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Lease Questions - Ask Here

I created this new topic in an effort to
consolidate all of the various topics that contain
specific questions about leasing. Please feel free
to post any questions that you have on this
subject in this area. Thanks.

Car_Man
Smart Shoppers / FWI Co-Host
«1345671169

Comments

  • jim52jim52 Posts: 161
    In PA. But I think it is a national program. Let me know when you get the new leasing figures.
  • Hey Carman... what do you think about a deal for a 2000 Maxima GLE with leather,AT,Traction, Bose,Roof. basically everything but a 6cd changer for 25,125+tax+license fee$130 at this time of the year? It's a car that's been sitting on the lot for a few months now and is gathering dust. It's about 500 under invoice with no dest charge. I understand it's a great deal anytime during the year...but i'm just wondering its' the end of the year, plus there could be a clearance rebate anytime now for the max and it's black.. which is almost last in my choices of color. (have a black truck already) do you think there would be a rebate in the next few weeks from nissan on the max and whether should i just bite the bullet and go for it. thanks
  • Welcome to this new topic, bretfraz. It would be a big help if you could provide me with the length of time that you want to lease for and the mileage that you want (12,000 or 15,000 miles per year).

    There are definitely some decent deals available right now, but I think that the days of unbelievably low monthly payments are gone for the time being now that the Fed raised interest rates numerous times. It seems to me as though it is more expensive to lease a vehicle today that it was to lease the same one several years ago in many cases.

    Car_Man
    Smart Shoppers / FWI Co-Host
  • Kyleknicks, if you can get a 2000 Maxima for $500 under invoice and not have to pay the destination charge and you like the car then go for it. I doubt that you will be able to find one for much less than that. There hasn't been any cash incentives on the Maxima in quite some time. I haven't seen Nissan's September incentive program, so I guess that it is possible that they introduced some sort of cash on this car. It is tough to say for certain. If you want to be absolutely positive that there aren't any cash incentives on the Maxima, their new incentives should be available here at Edmunds.com sometime late this week or early next. If you like the car, the price is right and I probably would buy it before someone else did if I was in your shoes. Good Luck.

    Car_Man
    Smart Shoppers / FWI Co-Host
  • bretfrazbretfraz Posts: 2,021
    ...I know better than to leave out critical info.

    I'd like 15K mi/yr. and both 24 & 36 month residuals, just to play with.

    Thanks!!
  • the lease is for 15K/year
  • Carman,

    where can I get a detailed description of lease calculations?

    slardy
  • CarMan:

    a while ago you provided me with accord coupe and volvo residuals and money factors. I would assume that the money factor is variable as well as the residual, both dependent on what lender you end up using - I see you were using the manufacturer's finance co's numbers. But, anyway, I would like to know what the approximate residual and money factors would be for an '01 Audi A4 1.8T with 5 speed/roof/premium sound - no quattro. Thanks
  • Don't worry about it, bretfraz. The 2001 Oldsmobile Intrigue is the only one of the vehicles that you mentioned that has a lease program that didn't expire on September 5th, so I will start with it. Both the 24 and 36 month GMAC lease money factors for all 2001 Intrigue models are 4.1%. If you lease one through GMAC with 15,000 miles per year prior to the end of 2000, the 24 month supported residual value will be 54% and the 36 month residual will be 46%.

    As I just mentioned the Acura and Infiniti lease programs just expired and I have not seen their new ones yet. I will probably have the information that you are looking for if you check back with me late next week.

    Car_Man
    Smart Shoppers / FWI Co-Host
  • You're welcome, henckels. I haven't seen Nissan's September lease program yet. However I ran a sample 36 month NMAC lease on a base 2000 Maxima GLE with a selling price of $25,329 and 15,000 miles per year and the monthly payment came out to slightly less than $400 per month not including tax. If you received this lease quote in September it is possible that the lease program on this car has changed enough to account for the difference in the payments. Also, perhaps they are already including tax in the quote that they gave you.

    I suggest that you run the price that you were quoted for this car and the monthly lease payments that you have been given by some of your fellow community members over in the Town Hall Sedans Conference. Perhaps some Maxima owners and shoppers in that part of this site will be able to tell you exactly how much they are paying for their vehicles so that you have a few real world examples to compare with. Click here to go there: Edmunds.com Sedans Conference.

    Car_Man
    Smart Shoppers / FWI Co-Host
  • Slardy, I posted a detailed explanation on how to calculate monthly lease payments quite some time ago in this conference. Here is a link to that particular post: Town Hall Finance, Warranty, & Insurance Conference Topic #35 "How to Calculate Monthly Lease Payments". Enjoy!

    Car_Man
    Smart Shoppers / FWI Co-Host
  • Hi demclaughlin. You are correct, a vehicle's specific lease money factors and residual values will vary depending upon what bank you lease it through. It is obviously extremely difficult to track the thousands of different lease programs that are available from all of the various banks that are out there. So, I personally keep an eye on the lease programs run by manufacturers' captive finance companies. It usually turns out that captive finance companies are able to provide the most attractive leases on vehicles that receive factory lease support. However, it is frequently less expensive to lease an unsupported vehicle through an unaffiliated lending institution.

    The Audi Financial Services lease program on the A4 expired at the end of today, and as you might imagine I haven't seen their new program yet. Please feel free to check back with me towards the end of next week and I should have the info that you're looking for.

    Car_Man
    Smart Shoppers / FWI Co-Host
  • Carman: regarding my previous inquiry. received news of a quote for $388 for the Max. GLE 15K/36month lease with TCS/Floormats. This might just be the right quote i was looking for.
  • Good job, henckels. Shopping around definitely pays. This latest quote sounds right around what I would expect this car to cost you. Enjoy.

    Car_Man
    Smart Shoppers / FWI Co-Host
  • Ramd02, if you were going to lease a GS 400, I would say wait until the GS 430 is introduced in the not so distant future. However, the Lexus GS 300 came out in 1993, had a major redesign in 1998, and it has changed relatively little since then. So both of these cars should be relatively similar.

    As far as the deals go, I would say that both the price that you are being charged for the 1998 GS 300 and the lease interest rates seem very reasonable to me. However, even though the interest rate seems fair for the 2001 model the price sounds a little on the high side. Of course, I have no way of telling how this car is equipped by reading the post that you made. So if this car is loaded than this price might not be that high after all. It is in your best interest to pay a visit to another Lexus dealership or two to see if they would be willing to give you more than a $500 discount on this car. If not, then this is what the market dictates for this particular vehicle in your area.

    Which one you should get is really a personal decision. It depends upon several factors, including how much more you want to drive a brand new car over a used one and what your budget is like.

    Car_Man
    Smart Shoppers / FWI Co-Host
  • bretfraz: also here in Florida a license tag for a lease vehicle will, car for car, cost almost double as well. just another way to "tax your sox off" I would not recommend anyone lease unless they can charge it off as biz expense. Plus at lease end we have always had a BIG hassle about excessive wear and tear, not worth it IMHO.

    Floridian
  • I am currently considering leasing one of the following 2001 models: Expedition, Tahoe, Suburban, Durango and Yukon (2 wheel drives). Can you give me the residual percentage for each of these on a 3 and 4 yr lease? Or, please tell me where I can find this information.

    If some of these models have a lower residual than the others, I may eliminate them from my consideration.

    Also, what is an average money factor to use?

    I want to do my own calculations before I make an offer.
  • Hello,
    I am planning on leasing a 2001 Acura 3.2TL (when it comes out later this month). Does anyone have residual and money factor info on this car (or the 2000 Acura 3.2 TL)? I am looking at a 36 month lease with 15,000 mile per year. Thanks..
  • car_man:

    here's the deal I got for the Max: Fully Loaded GLE, all options except gold badging. 389/month for 39 months. I thought it was a pretty dang good buy.

    Do you have any idea about the end of lease procedures for nmac? I just found out my existing honda lease will be charged some bogus "disposition fee" in the amount of $400. Leaves a pretty bad taste in my mouth, would that be a norm?
  • Hi hodgesja. Fortunately, all of the lease programs for the vehicles that you are interested in are scheduled to run at least through the end of the month. However, I have not seen the lease program for the 2001 Expedition yet. I probably will have that data by the end of this week. OK now for the other trucks that you are looking at. Neither the Tahoe, Suburban, or Yukon currently have any lease support available on them through General Motors Acceptance Corp. So if you decide to lease one of these SUVs through them you will have to pay their standard lease rate of 9.5% for all lease terms. This rate assumes that your credit is in good shape and will be higher if it is not. I haven't seen the residual values for the 2001 versions of these trucks yet, but again may have them in a few days.

    If you decide to lease a 2001 Dodge Durango through Chrysler Financial Corp. the lease money factor is currently .00340 for both 36 and 48 month terms. The 15,000 mi/yr residuals for this truck are 54% for 36 mo. & 47% for 48 mo. for the 2WD version and 55% and 48% respectively for the 4WD version of this truck.

    Car_Man
    Smart Shoppers / FWI Co-Host
«1345671169
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