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I leased the accord coupe in satin silver..and I'm loving it! I picked it up last Saturday!
To answer your question, the cap. cost for this was $20825, and I think it's not too good of a deal, to be honest. The dealer kept playing with the numbers, but at the end, i was happy with the $309.45/mo for 39 mos with $1500 down, which only came to an actual $915 towards the cap cost reduction. the rest went to taxes, doc fees, first month payment and acquisition fee. What do you think? Thanks for your input!
deedee
Car_Man
Smart Shoppers / FWI Co-Host
Car_Man
Smart Shoppers / FWI Co-Host
About two weeks back I asked you for residuals and money factors for Olds Silhouettes. Has GMAC increased their rates? Dealers are quoting payment rates much higher than I'd figured using the numbers you posted. I'm trying to figure out if they're trying to clip me.
Thanks,
SST
Car_Man
Smart Shoppers / FWI Co-Host
Thanks for getting back to me regarding the Silo. lease question. In your opinion, has the lease market gotten a lot tighter? I've leased my last three vehicles, and this is by far the toughest time I've had getting a deal I can live with. Has leasing fallen out of favor with the manufacturers?
SST
Does anyone out there know of a good lease calculator? I have taken the example given in the Lease vs. Buy section on this site and set it up in a spreadsheet. However, I am curious about others.
Thanks,
SST
Car_Man
Smart Shoppers / FWI Co-Host
P.S. I just remembered that you're in the market for an Oldsmobile Silhouette. Did you hear yesterday's news that GM is phasing out Olds over the next couple of years and eventually will close down the division completely?
Anyway, Carman was going to help me with some numbers. I plan on leasing a 2001 Nissan Maxima, either a SE (stripped with 5-speed) or GLE (stripped.) I plan on leasing for a 36 month term, 12k miles/year and will only put fees down. This is my third NMAC lease if that counts for a better deal.
My question is: what are the money factor and residual on these two cars, and assuming a sales price of Edmunds TMV, what should I expect the monthly payments to be.
Thanks so much again for your help and information.
Christian
Car_Man
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I just received a letter from Mitsubishi credit telling me that I will have to pay a "disposition" fee if I don't buy a new car from them. They do not say how much this will be. I know I must pay $.10 a mile for every mile over my contract, but I cannot find the "disposition" fee in the contract. If I must pay them $4000 to get a new car or the "disposition" fee to return the car how can I win here?
This is a long winded way of asking for advise on how not to get ripped off. I loved the car and would like a new one, but every time I have talked to them(dealer) they want higher payments than I can afford and some fee or big down payment. I am currently paying $425.00 a month and would like to pay $100 less.
How can I make this work? Is my dealer just trying to put the screws to me?
Thanks
Many lending institutions charge what is called a termination or disposition fee at lease-end to cover the reconditioning vehicles. This fee usually amounts to around $300 or so, and will frequently be waived if you purchase another vehicle from the same manufacturer.
Car_Man
Smart Shoppers / FWI Co-Host
Car_Man
Smart Shoppers / FWI Co-Host
Also, do you know about the $500 end of year cash I have seen advertised. Is this applicable on this model, and is it only til the end of the year?
Thanks, Christian
Hi again. I am still shopping.
What are the current residuals and Money Factors for the following:
Honda Prelude (base) 5-spd
Honda Prelude SH
VW Jetta GLS V6 5-spd
24 months, 27 months, 30 months, 33, 36, and 39 months
all 12K miles???
Thanks
Gregg
Any companies still doing these?
I believe it is a lease of normal term but with no money factor and all payments are made in one lump at the beginning.
FYI- I am looking at a 2001 LX 470. approx 3 years- 12,000 miles.
Thanks,
Eric
Car_Man
Smart Shoppers / FWI Co-Host
The lease money factors for the 2001 Volkswagen Jetta GLS V6 with manual transmission through VW Credit are currently .00299 for up to 30 mo., .00270 for 36 mo., and .00261 for 39 mo. Its 12,000 mi/yr residuals are 67% for 24 mo., 63% for 30 mo., and 60% for 36 & 39 mo.
Car_Man
Smart Shoppers / FWI Co-Host
Car_Man
Smart Shoppers / FWI Co-Host
Car_Man
Smart Shoppers / FWI Co-Host
Could you please approximate the lease payments on a 2001 Chevrolet Venture van? The van is fully loaded and we are looking at a two year lease. The dealer has indicated the lease payments are going to be substantially higher than what we are currently paying ($231 per month on a 1998 Venture), due to lower residual values. I would like to ensure the dealer is providing accurate information before proceeding with the transaction. Thank you for your help.
Couldn't I create my own pre-paid lease? Lets say the car cost 65,000. I ask for a 3 year lease and they say the residual is 40,000. If I put 0 down, then I basically repay 25,000 plus interest over 3 years. What if, at inception, I put 25,000 down as a cap cost reduction? Then they would have nothing to charge me for the next 3 years, right? I have paid no interest then, except the interest I would have gotten on the 25K if I had kept it in the bank.
Example: (Cap Cost + Residual) X (Money Factor / 24) = Monthly Interest. (Always divid by 24, even if a 36+ month lease.
I hope this clears up some information. And every bit of it is true. Artmbgolf can back me up on this (FYI, it's Tccad1 from the cadillac boards)
I would like to know if this is a decent deal.
2001 MB E430 w/ E1, E2 packages 0 down, $898 per month for 39 months.
Also, if I decide to put lets say 10 payments up front, how much would a fair reduction in monthly payment should there be?
Thanks,
Jon
Car_Man
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Maybe you can help me understand a few things about leasing a car. I just recently, with the help of my father, leased a 2001 Jeep Grand Cherokee. In my new car search I was considering a 2001 BMW 325i. After the visit to the BMW dealership I realized it would not be financially possible.
My Jeep has the sticker price of $28,500 and the BMW I wanted had a sticker of $32,500 (not a huge difference in my opinion). When we went and talked numbers with the BMW people it was going to cost $700 a month to lease the car for 48 months with $3000 down I wanted. They were not able to go down any lower.
I went to th Jeep dealership and put $3000 down and will pay $400 a month. My question for all of you is how the hell can a $4,000 difference in sticker price equal a $300 difference in monthly payments? It has something to do with dealer incentives and interest rates, please explain.
Also, what do you think my monthly payments would have been if I had wanted to buy the BMW over a seven year period (84 months). Thanks
Thank you for your response. Here is the additional information you requested in order to do some calculations. The Venture van is an LS model with the following options: RKE, A/C (including rear), r/wdo defogger, 6-way pwr seats (driver and passenger), radio with cassette and cd player, up scale interior (although not leather), automatic transmission, 6 cylinder engine and 2 sliding doors. Basically, the vehicle is optioned-out, although we are not getting the television. The two-year lease terms are $2000 down and allows 12,000 driving miles per year. There is also a $500 cash back offer if purchased prior to January 2. If you need additional information, please let me know. Thank you again for your help.
what would reasonable lease payments be for:
1) 2001 Mercedes E320 w/ E1, E2, active ventilated & multi-contour seats -- MSRP: 53080, Invoice: 49410, Edmunds TMV: 50903 for 48 months / 20000 miles per year 0 down and for 60 months / 20000 miles per year 0 down. Also, for each $1000 I might put down how would it effect the payment?
2) 2001 Lexus GS300 w/ All Season Tires, Gold Kit, ML Audio System Pkg, Wheel Locks -- MSRP: 45386, Invoice: 38949, Edmunds TMV: 41634 for 48 months / 20000 miles per year 0 down.
Thanks!
- We've kept the car under mileage. If we have to drive it back to Chicago, we may not go over our 12K per year mileage
- The car is in really good condition (now - that's not to say what will happen to it the first winter in IL)
- The lease says it's a max. $1000 charge for not turning the car back in where we got it- but does tea apply to out-of-state Ford delearships? Can we even turn it in at any Ford dealer?
- I wouldn't mind having another car, it's just a convertible is a bad choice for Chicago
Are there any other options besides turning it in before we go and paying the huge penalty, or taking it with us and possibly paying at the end of the term for additional mileage or excessive wear-and-tear?
Would you please help me with the following items? I would like to know what the residual values would be on an '01 Dodge Grand Caravan Sport for 24 & 36 months.
Also, do you know of any lease offers from Dodge?
Lastly, where can I find a good leasing organization to work with other than the Daimler-Chrysler financial group?
Thanks, Carman!
I'm planing to lease the 2001 3.2TL w/Nav. and I need some help with the numbers.
I'm looking for a 36 or a 39 mo. lease with down payment of $2000+first mo.+tax on the $2000 down+DMV fee+Acquisition fee. 12K mile per mo.
First I would like to know what kind of payment I'm looking at (36 and 39 mo).
And what is the residual value for this car after 36 mo. and 39 mo.
If I do have excellent credit, what kind of lease factor I'm looking at? (I was hoping for 0.0025 or 0.00292).
By the way, I can get this car for $29,000+tax+fee.
Thank You,
Ayu91076
Car_Man
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Car_Man
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OK, now let's take a look at the 2001 Lexus GS 300. If you lease this car (without the Navigation System) at the Edmunds.com True Market Value price through Lexus Financial Services prior to January 2nd for 48 months with 15,000 miles per year your $0 down pre-tax monthly payments will be about $630 per month.
Car_Man
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As far as other banks that you can lease this van through go, most dealerships have computer systems that allow them to query all of the various lease programs that independent banks across the country have available at any point in time. However, there has been quite a shake up in the independent leasing market lately and most banks that are not directly affiliated with an automaker have become much less aggressive with their lease programs. As a result, you may have a hard time finding a bank with a more attractive lease program that Chrysler Financial's.
Car_Man
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Happy New Year! Thank you very much for your reply. I can see you are using 62% residual value on the 36 mo. lease and 61% on the 39 mo. lease.
My local Acura is giving me 62%/36mo. and 61%/39mo. but with the lease factor of 0.004. They told me this is the standard lease factor for this car...they can get 0.0035 on only the CL Type-S.
My question is, how can I get standard lease factor of 0.00345 for AHFC?
Also, the acquisition fee is $550...is there any way I can reduce or waive this fee?
Thank You,
Ayu91076
"It's a fact! When the year ends lease residuals go down! Your payments will increase, so lease now!"
In general, do lease residuals change just because the calendar year changes?
Also, the last that I heard, American Honda Finance Corporation's acquisition fee is only $450. Either this has changed very recently, the dealership is using a bank other than AHFC, or they are marking-up the acquisition fee to bake additional profit into your deal. This $450 charge is something that is assessed by the bank that you are leasing through and the dealership that you are negotiating with really does not have any authority to waive it.
Car_Man
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Car_Man
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2. You are a current lease customer of theirs
New car lease residual %'s do decrease over time as the model year proceeds, but not as drastically as leasable used vehicle residuals.
I have ordered a Silver 2001.5 Audi A4 with Quattro celebration package, Quattro sport package, cold, xenon, ESP. I have agreed on a price and have not decided to lease or not. Please provide me with Residual and, Audi MF. I am in Kansas City and would like a 39 month with 15K/year. I do not take delivery of this car until early April, is this too early to get accurate info?
Thanks in advance
Car_Man
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