2023 Lexus RZ available at largest ever $15K lease cash discount

2023 Lexus RZ available at largest ever $15K lease cash discount

Just around six months following the release of the 2023 Lexus RZ 450e into the US market, the all-electric crossover is now available with a substantial $15,000 lease cash discount, which marks a significant move in making EV ownership more enticing as well as accessible. The aforementioned lease cash discount surpasses the previous incentive of $10,000, which was offered in July this year. The remarkable reduction in lease costs positions the Lexus RZ 450e EV as an even more attractive option for eco-conscious consumers seeking pioneering electric driving experiences.

The new offer essentially trims down the Lexus RZ 450e’s monthly lease payment to $499 per month, the same as the 2024 Lexus RX 350.

However, after initially remaining tight-lipped, the EV manufacturer has confirmed that the new discount of $15,000 includes the federal government’s tax credit of $7,500. In response to a query, a spokesperson for the company said, "Yes, the $15,000 lease cash incentive includes the $7,500 federal tax credit. We are passing along the benefit of those tax credits to customers.”

As per available information, the new, attractive lease cash offer extends throughout the month of November this year, causing a substantial reduction in monthly lease payments, potentially up to $140 per month.

The 2023 Lexus RZ 450e Premium, for instance, with an outright buy price of $59,650, can now be leased for just $499 a month over a period of 36 months, requiring a $5,999 down payment on the West Coast. This translates to an effective monthly cost of $666 per month, making the lease $90 cheaper compared to the preceding month.

Notably, the East Coast also enjoys a considerable decline in monthly lease payments, with the battery-powered crossover available for as low as $519 per month with a $4,999 due at signing, which marks a reduction of $140 per month.

It is also worth-noting here that the new lease prices align the Lexus RZ 450e crossover with the popular Lexus RX, with both commanding a $499 monthly lease payment in the U.S. state of California. The 2024 Lexus RX 350, which starts at around $52,000, can be leased for the same price with a down payment of $5,999. It essentially means that one can lease a Lexus RZ for the same price as an RX.

The $15,000 lease discount has been offered only for the Lexus RZ 450e spanning most parts of the U.S. The luxury carmaker hasn't extended any rebates for customers opting to buy the electric crossover instead of leasing it.

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