Lexus RZ Lease Deals Now Offer Massive $15,000 Discount

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Prospective buyers eyeing the Lexus RZ 450e in the US this November are in for a pleasant surprise, with a substantial $15,000 discount available in leasing deals. This levels the playing field in terms of leasing cost between the fully electric SUV and the Lexus RX, despite the RZ 450e having an MSRP at least $10,000 higher.

The newly introduced $15,000 discount for the RZ, unveiled in November, represents the most substantial price reduction to date, surpassing the previous $10,000 discount offered in July.

More: The 2023 Lexus RZ 450e Makes Going Electric EZ

According to CarsDirect, the 2023 Lexus RZ 450e Premium, with an MSRP of $62,100, is now available for lease at an enticing rate of $499 per month on the West Coast—a reduction of $90 from last month’s rate. This lease agreement spans 36 months and requires a hefty $5,999 initial deposit at signing, while including an annual mileage allowance of 10,000 miles.

It’s important to note, as a standard advisory, that making down payments on leases is generally discouraged. In the event of any unforeseen circumstances affecting the vehicle, such down payments are typically non-refundable.

Interestingly, in California, the same lease deal of $499 per month applies to the 2024 Lexus RX 350, even though the internal combustion engine-powered SUV has a $10,000 lower purchase price, with an MSRP of $52,000. This peculiar leasing parity occurs mainly due to a loophole (or exemption) in the Inflation Reduction Act (IRA), which renders the RZ eligible for the full $7,500 EV tax credit.

On the East Coast, the most favorable offer for the 2023 Lexus RZ 450e Premium now stands at a monthly fee of $519, which is $140 less than the previous rate. This deal requires a deposit of $4,999 at the time of signing.

Lexus has not yet disclosed any rebates for those interested in buying the RZ 450e, which makes the aforementioned leasing deals even more attractive. It remains to be seen if the upscale sibling of the Toyota bZ4x and Subaru Solterra will see further price reductions as Lexus aims to attract more consumers away from competitors like the Tesla Model Y.