Mitsubishi Outlander Lease Questions

matrsoskin · May 2008

Hi tootired!

You are welcome!

Just to give you an idea regarding the range of the 2008 Outlander lease offers, I have also received one from the Dorsett Mitsubishi (Indiana): $560/month with $3000 cap reduction + taxes and fees for the similarly equipped vehicle.

Cheers

jimzigg · February 2014

I live in WI. Looking for Feb residual and MF for a 2014 outlander se. AWD and FWD models with 2.4L engine. 36 mos and 15k per yr. also the 48 mos figures please. thx

kyfdx · February 2014

@jimzigg said:
I live in WI. Looking for Feb residual and MF for a 2014 outlander se. AWD and FWD models with 2.4L engine. 36 mos and 15k per yr. also the 48 mos figures please. thx

.00006 MF and 57% residual for 36mo, 15K/yr. for either AWD or FWD

The 48 month program is really not competitive with this...

blindjoni · August 2014

Looking for residual and MF, 15,000 mi. on 2014 Outlander GT with Touring, Everything but rear DVD and towing. I am in upstate NY. Price was reduced from $36,270 to $30,990. They are saying 39 mth lease at $359 with $1500 fees, first payment up front...seems high. Was also wondering about a 24 month lease.

Michaell · August 2014

@blindjoni said:
Looking for residual and MF, 15,000 mi. on 2014 Outlander GT with Touring, Everything but rear DVD and towing. I am in upstate NY. Price was reduced from $36,270 to $30,990. They are saying 39 mth lease at $359 with $1500 fees, first payment up front...seems high. Was also wondering about a 24 month lease.

Mitsubishi does not offer 39 month leases.

24/15 - .00004 and 58%

36/15 - .00014 and 58%

With your MSRP and selling price, the 24mo pre-tax payment is $416.81 and the 36mo pre-tax payment is $283.77.

The 39 month program your dealer is quoting could be from a finance company different from Mitsubishi.

blindjoni · August 2014

Is residual value based on MSRP, invoice, selling price?

Michaell · August 2014

@blindjoni said:
Is residual value based on MSRP, invoice, selling price?

Residual value is expressed as a percentage of the MSRP.

blindjoni · August 2014

I ran the numbers and they agree with yours, but I am seeing lease interest rates on car.com of over 5%...what is the story with that?

Michaell · August 2014

@blindjoni said:
I ran the numbers and they agree with yours, but I am seeing lease interest rates on car.com of over 5%...what is the story with that?

could be inflated, could be with other finance companies .. really, hard to say.

blindjoni · August 2014

Is residual value % a fixed value and if so by whom? What other factors can the dealer alter to change the payments? Got another quote today that is at least $65/mth too high by ANY calculations I do. Thanks so much! This forum has been a great asset to me.

Michaell · August 2014

@blindjoni said:
Is residual value % a fixed value and if so by whom? What other factors can the dealer alter to change the payments? Got another quote today that is at least $65/mth too high by ANY calculations I do. Thanks so much! This forum has been a great asset to me.

Residual value is set by the finance company and cannot be altered by the dealer. Only two variables in a lease are the MF and he selling price.

ken117 · August 2014

If you lease through the OEM (Mitsu), the OEM establishes the residual value. If the lease is through a third party, it is possible they would set the residual value. It is good to research this to know the OEM residuals before visting the dealer. The higher the residual the better the lease.

The OEM may have subsidized money factors (MF) which can be low. However, dealers may elect to try to lease using some other source or may inflate the OEM's MF. It is important to research this before heading to the dealer to determine what MF you qualify. As with interest, the best MF are reserved for those with good credit, usually 720 or more. The MF can be equated to the interest rate by multiplying the MF by 2400.

The amount capitalized (financed) through a lease is set via negotiations. You should negotiate the price of the vehicle exactly as you would if you were purchasing the vehicle. Make sure the price negotiated is total excluding only legal fees. Make sure the price includes an dealer concocted fees such as documentation fee.

Once you settle on a price the only "fees" should be an acquisition fee, which is charged by the financing source and is usually $600-$700, and legal fees such as registration and tax. Regarding tax, some states tax the selling price on a lease and some tax the payment. You should know this before visiting the dealer.

Any other fee which a dealer attempts to add, such as documentation, is not a fee in any sense of the word. Those amounts are simply part of the selling price. If a dealer states anything to the contrary they are not being honest.

In no state is a documentatin fee required by law. What is required is if a dealer is successful charging one customer the fee it must show it charged all customers the fee or risk a law suit. Therefore, you will often see the documentation fee printed on the contract. Once again this is simply the dealer trying to give the appearance of legality. If you negotiate a price and later see the doc fee on the contract, simply tell them to reduce the price to compensate for the fee. Usually they will or they will offer some other concession.

In essence, dealers have learned to separate the selling price into two parts, price and documentation fee. This is intended to give the impression of a better deal. Goggle Earl Stewart On Cars to read an honest dealer's comment on these fees.

Mitsubishi Outlander Lease Questions

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