What is the residual value of the 2024 Lexus RX 350?
The end-of-lease value, or residual value, for a 2024 Lexus RX 350 is not a single fixed number. It’s an estimate set by the lease provider and varies with the term, annual mileage, trim level, and market conditions. For a typical 36-month lease with about 12,000 miles per year, the residual commonly ranges roughly from the mid-50s to around 60 percent of the vehicle’s MSRP, with exact figures depending on the deal you lock in and where you are located.
Understanding where that residual comes from helps you compare offers, estimate monthly payments, and assess whether you’d want to buy the car at lease end. This article explains how residual values are determined and how to obtain the precise figure for your RX 350 lease.
What determines residual value for the RX 350
Leases are priced with a residual that reflects how much the vehicle is expected to be worth at the end of the term. The main factors that shape this estimate are:
- Lease term: The most common choice is 36 months. Shorter terms (e.g., 24 months) usually carry higher residuals as depreciation occurs over a shorter period, while longer terms (e.g., 39–48 months) typically have lower residuals.
- Mileage allowance: Options like 10k, 12k, or 15k miles per year affect the end-of-lease value. More miles reduce the residual because higher depreciation is expected.
- MSRP and trim level: The residual is often expressed as a percentage of MSRP. More expensive trims can have higher absolute residuals but may depreciate more in dollar terms depending on demand and wear expectations.
- Market demand and resale outlook: Overall used-car values and demand for luxury crossovers influence the residual lenders expect at lease end.
- Lease program specifics: Different lenders or dealership programs can assign slightly different residuals for the same model and term, so offers can vary.
In practice, these factors mean the same RX 350 can have different end-of-lease values across offers, making it important to compare the actual residual figures in each lease contract rather than relying on a single headline percentage.
How to confirm the exact residual value for your 2024 RX 350 lease
To get the precise residual for your situation, use these steps with a dealer or financial calculator.
- Ask the dealer for the residual percentage and the end-of-lease buyout amount for your chosen term, mileage, and MSRP. Request both the percentage and a dollar figure.
- Use the official Lexus lease calculator or the dealer’s online tool: input the MSRP, negotiated price, money factor, and residual to estimate monthly payments and the end-of-lease value.
- Compare multiple offers: Obtain quotes from different dealers for the same term and mileage to see how residuals vary across programs.
- Review the contract carefully: The residual value in the lease agreement sets your guaranteed buyout price if you choose to purchase at term end.
Note: Residuals can change with incentives or shifts in market conditions. Always verify the current numbers shown in your signed contract before committing.
Summary
The residual value for a 2024 Lexus RX 350 is not a single universal figure—it’s a lender- and program-specific estimate that depends on the lease term, mileage, trim, and region. For a typical 36-month lease with about 12,000 miles annually, you’ll commonly see a residual in the mid-50s to around 60% of MSRP, but exact numbers vary by offer. To determine the precise end-of-lease value for your situation, obtain formal offers from dealers and use their calculators or review the signed lease contract carefully before signing. This end-of-lease value will influence both your monthly payments and your buyout options at the end of the lease.
