DBXL

It seems to me that most people on this site have purchased their Lexus (as opposed to leased it). I am looking to lease a fully loaded RX450h F sport with an MSRP of $63K and change with a 36-month term. If anybody has recently entered into a lease for this type of vehicle, please let me know the following:
Base monthly payment (before taxes):
Amount due at lease signing:
Term:
Residual value:
Mileage allowance:
Gross Capitalized Cost:
Anything else to know of value:
Also, since I am not in a huge rush, I can wait for the 2018's to come out. On a %tage basis, how much more would you expect a negotiated lease (or purchase) price to be?

Thank you very much for your help with this.

CrackerJac

Nobody can tell you the payment without knowing the other relative values. Search the Edmunds forums for the current residual value based on months/mileage. Once we have the RV along with the terms, aim for 10-12% off MSRP. The money factor is still .0008 for the month for the central region. Im sure its the same for you although dealers will tend to inflate this number for their own profit.

FastFord

Kind of hard to tell you numbers when each case is slightly different. I traded a car in, left some down as a security thing and got 0.4% interest with the security deposit. I also got some money back. Also have a low mileage lease, 12K miles per year (I think)

Leasing a 2017 will be cheaper than a 2018 if you can even find a 450H loaded at this point. I know in my City there are no 450H loaded, or F sport, only base ones left.

GunnyFitz

I can tell you MY numbers on the 2017 RX350 "Luxury Package" = but unfortunately NOT the F-Sport!

Actually - I was initially set on the F-Sport from the beginning until I looked at all the features side by side, etc. You know how it is with packages? This one gets THAT option you want, but it DOESN'T come with THIS option - but Luxury comes with BOTH! Its like Catch-22 man. So I finally went with had more Pros than Cons for me which = The Luxury model in Nightfall Mica & Noble Brown Interior LOADED !!!!!! - All I read (and heard thru here, and from Reps, Owners, etc, was that F-Sport lacked)
So take it all with a grain of salt. Hit me up via PM if you want figures DBXL?

FastFord

I didn't know that the F sport could not get what the Luxury RX has. Other than different seats, steering wheel and then a few cosmetic things.

GunnyFitz

Thats kinda what meant. Tiny things like this which should not make or break a deal if ones heart is set on the F-Sport. Some just don't like the front grill on it either?

So "Fast Ford" - you have just replied to EVERY post I put up this am buddy! Are you free with your time so often, or just love the forum enough to assist those of us with lower Post Counts my friend? (Also, may I ask what Lexus you are currently driving now yourself? Do ya actually have a Ford GT as well, or another model?

When I first entered the Marine Corps in 1985 (Dating myself) I was stationed down at Camp LeJeune, NC which was HORRIBLE!
Got myself into a brand new Mustang GT with the famous T-Tops and wicked fast 5.0 engine I drove like a Pro too! LOVED that car which I sold to an Uncle after only like 6-8 months of ownership before I was off to Embassy Duty in Lagos, Nigeria! That Uncle held onto it all these years and just sold it to a used car lot for dirt cheap without even letting me know! I would've loved getting that car back just to beat on - Oh and sun myself with those T-Tops of course!! LMAO

FastFord

Had a bit of experience with vehicles and like to help people out. Especially when they are getting the run around. Still have many contacts in the Automotive business. Just spent 4 hours detailing the car and taking a bit of a rest. Have a 2016 rx350 F sport 3.

Don't want to get off topic too much or they will steer us back to the posted thread.

Good Luck with your new lease, I can tell you are happy!

CharSiuBao

I just leased a fully loaded 450h F-Sport last week, one of the last 2 in Canada in the colour I wanted

Base price for the car was CAD $71,800. OTD price (before tax) including freight, accessories, ECP, etc. was CAD $80,866.

I put a $10,000 security deposit on a 39 month lease to buy down the interest rate to 0.4%.

Monthly payments before tax are $1,165 and the buyback at lease end is $36,190.

I originally wanted to purchase, but leasing was a no-brainer when compared with putting a $10,000 down payment with an finance rate of 2.9%. Just need to have he discipline to save up enough money over the next 3 years to buy out the car in one shot at the end.

GunnyFitz

You dropped 10k for a down payment on a LEASE????

Did your Sales Rep have ANYTHING at all to do with this decision man?? - Did you ever tell him you were highly interested in what the "Monthly Costs" were going to be??? What sort of numbers did you come up with by running that 10k down payment on a "Purchase" - and who gave you the rate of 2.9 BTW? Did you search around on this rate at all "CharSiuBao" ?? - Brother I am seriously biting my tongue right now trying to decide if I should speak up on this entire thing?????

All I can figure is that there is something seriously jacked up about Lexus sales in Canada my friend. For the life of me, I cannot understand why you went so far out on this? To me it literally seems like that plank walk the old Pirates used to do before being shot off the end - or they were rescued by Robin Hood?

"CharSiuBao" - I think you should seriously be on the lookout for Robin Hood because this entire deal sounds absolutely insane (Anyone else concur here?) I TRULY wish to look out for you and if you had posted this entire deal BEFORE you made this purchase I, at least, would've told you to double check these with another Dealer asap!!

Please tell me if I am of base folks. Maybe I missed something here?

FastFord

Gunny, we get hosed in Canada. The 10G is to bring the rate down and since our banks give you around 0.5 % interest, this makes sense. Also the 10G is a security deposit, that goes as a credit at the end of the lease. You get it back or apply it to a purchase of the lease or another car.

We pay 20G more than you for the same car, made in Canada....Don't move here!!!

Plus Lexus USA and Lexus Canada are basically two different companies. Deals in the States are different from the horrible deals in Canada

Good morning Gunny, good to see you back here.

CharSiuBao

I have an MBA with a background in finance. The $10,000 on the lease is not a downpayment -- it is a security deposit that you get back at the end of the lease (and can apply to the buyback). Also, the interest rates (whether lease or finance) are generally not negotiable in Canada.

Buy vs. lease calculation:

Buy

• $80,866 + tax = $92,995
• $10,000 down
• Amount to finance $82,995
• Monthly payment of $1,833.39 over 48 months @ 2.9%. Math in Excel: =PMT(0.029/12, 48, -82995)
• Total payments $10,000 + 48 x $1833 = $98,003

Lease

• $80,866 cap cost
• $10,000 security deposit (to be refunded at lease end)
• Amount to finance $80,866 with $36,190 buyback.
• Buyback with tax of $41,618. Effective buyback of $31,618 net of security deposit.
• Monthly payment of $1,165 + tax = $1,340 over 39 months @ 0.4%. Math in Excel: =PMT(0.004/12, 39, -80866, 36190)
• Total payments 39 x $1,340 + $41,618 = $93,880

Difference of just over $4,000 in favour of leasing (and keeping the car) vs. financing. The 9 month difference in term length is trivial to me.

FastFord

This is great. I'm going to get you to do my next purchase/lease calculation. I don't remember the last time I actually checked the breakdown, but am glad you posted it...Thank-you!

Don't worry about the other post. Most USA purchases don't pay anywhere near the same as Canada. So when we post numbers they can hardly believe it!

Great Choice on your new ride. 450H for me is the next one

CharSiuBao

The only "tricky" part of a lease vs buy calculation is the monthly payment math and making sure you don't get hosed there. I've updated my post to include the Excel formulas so that you can figure out the payments without resorting to a finance calculator.

CharSiuBao

Car prices in Canada are FUBAR - MSRP on the car was $79,440.

We also don't really have options for "shopping around" for the finance/lease rates. All dealers from a given brand will have the same rates (because they all get their financing from the manufacturer). Bank or credit union car loans are WAY more expensive (think 7-8% vs. 1-3%). If you go to a bank and ask for a car loan, the bank will even tell you not to bother and to go with the dealer financing.

FastFord

That's great. Thank you!