Lease Questions - Ask Here

bradlake1

HI CARMAN:

Can you add info about 03 MDX Touring. We are in Atlanta and have an offer from the dealer of MSRP $38,800. Moreover, the dealer offered 42 months / 12K miles monthly payment of $504 + tax. and is requiring $1400(for fees and 1st month lease payment). Is this a good deal? What are the MF and residuals for the vehicle 15K mi 36/42 months? This later arrangement is what we prefer.

troyy2k

Hi Carman,

I am looking to compare the lease figures on three different cars:

1) Volvo XC90 2.5T AWD with Premium Package and Navigation Package. Price: $40,230: 36 and 48 month lease

2) Nissan Murano SE with AWD, Navigation, Premium package for $37,000: 36 month lease

3) BMW X5 automatic, list 42,000: 36 and 48 month lease

Any help would be greatly appreciated. Thanks!

troyy2k

Has anybody had any expereince leasing a car from LeaseCompare.com? Any positive or negative input would be appreciated.

probertstx

Hi Carman.
Any chance you could give me MF and residuals for a 2003 Volvo XC70 Cross Country, and a 2002 Audi A6 Avant Quattro. I'm interested in both 3 and 4 year leases, both with 15,00 miles in Colorado.
If you have them, I'd also like to know if the figures for a 2003 Audi (same model) would be much different.
Thanks.

granite_stater

Leased a 00 Dodge Durango for 36 mos/36K miles back in Feb of 2000...

Getting time to make a decision.. turn it in (and pay hefty penalty) or buy her.

Problem is, I'm going to end up somewhere around 60K miles (moved to another state... new job commute was 70 miles/day instead of the 6 miles/day when I first leased the vehicle! Throw in some long trips for skiing/etc... and I'm 24,000 miles over. Yikes!)

Thelease end residual is set up to be a laughable $20,500. Talked to the nitwit at Chrysler Financial the other day... they don't seem willing to budge on the buyout figure. I'm going to try to speak with this guy's boss.. but assume now that the price is what it is. Which is ludicrous.. for the options/mileage of this car, KBB has the wholesale at $10,800. Chrysler, even with my $3,600 in penalties, is going to take a bath on this sucker! Why they wouldn't take $15,000 or so from me and not have to deal with getting the truck back is just plain stupid.

So... do I suck it up and pay the fines and walk away or do I buy it to not cough up the cash? Will banks demand a good cash down payment because the purchase price is far over what normal market prices are? (TMV has it at ~ $17K).

Advice is appreciated!

Pete

CarMan@Edmunds

You're welcome, pemarsh.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds

Hey fotomaniak. You should be able to find out the answers to all of your questions on GMAC's lease excess wear and tear guidelines by visiting their web site at http://www.gmacfs.com/ and clicking on the Excess Wear Square link on the left sidebar.

You really can not "return" your vehicle early to GMAC without having to pay your remaining monthly lease payments. You can purchase your vehicle from them prior to your lease's scheduled termination date and trade it in on your next vehicle or sell it on your own, but consumers who investigate this avenue often find out that they are upside down on their vehicles, owe more money on them than they are worth on the open market, and it is not worth it.

Car_man

Host

Smart Shoppers / FWI Message Boards

CarMan@Edmunds

Sorry about the confusion, tnguyenmdc. By check back with me in a week, I meant remind me about your post. OK, let's take a look at this truck's current lease program. If you were to lease a 2003 Acura MDX Touring w/Navigation and Rear Entertainment System through American Honda Finance Corp. this month for 3 years with 12,000 miles per, their base lease money factor and residual value should be .00220 and 59%. The numbers for an otherwise identical 4 year lease should be .00205 and 54%. The entertainment system and the navigation have a negative impact on this truck's normal residual values. I haven't calculated a lease payment on a truck with both, but I believe that the numbers that I provided you with are correct. According to my calculations, using the numbers that I just posted and an MSRP / Cap Cost of $42,500, your 3 year zero down, pre-tax monthly lease payment for this truck should be around $633. The 4 year payment should drop to around $542.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds

Hi bradlake1. If you were to lease a 2003 Acura MDX Touring without the Navigation or Rear Entertainment Systems through AHFC this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00220 and 60%, respectively. I have not seen their 42 month lease program for this truck, but their 39 month program would provide you with a factor and residual of .00220 and 59%. Using the 39 month numbers and an MSRP / Cap Cost of $38,800 I calculate a zero down, pre-tax monthly lease payment of right around $544. The 42 month payment should be a little lower than that.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds

Hello troyy2k. Here is the information that you are looking for. First, if you were to lease a 2003 Volvo XC 90 2.5T AWD with Premium and Navigation through Volvo Finance this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00375 and 59%, respectively. The 4 year 15,000 miles per numbers for this truck should be .00365 and 51%, respectively.

I have not seen the lease program for the new Nissan Murano. NMAC may not have published numbers for it yet. They may do so in their December lease program. Please feel free to check back with me early next month and I may be able to give you an idea of what this vehicle's lease program should be like.

Last but not least we have the BMW X5. If you were to lease a 2003 BMW X5 3.0i through BMW Financial Services this month for 3 years with 12,000 miles per, their base lease money factor and residual value should be .00245 and 60%, respectively. Their numbers for an otherwise identical 4 year lease of this truck should be .00280 and 51%, respectively.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds

Hey probertstx. I would be more than happy to help you out. If you were to lease a 2003 Volvo XC 70 through Volvo Finance this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00240 and 60%, respectively. The 4 year numbers for an otherwise identical lease should be .00264 and 54%, respectively.

As far as the Audi goes, let me begin by saying that unless you are getting a substantial discount on the 2002 A6 that you are interested in, you would be much better off leasing a 2003 version because Audi has discontinued their lease support on '02 models. If you were to lease a 2002 Audi A6 Avant Quattro through Audi Financial Services this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00245 and 45%, respectively. Their 4 year numbers should be .00245 and 39%. The 3 year numbers for the '03 version of this car should be .00100 and 53% and the 4 year numbers should be .00110 and 46%.

Car_man
Host
Smart Shoppers / FWI Message Boards

bigguns11

I am in the market to lease a Subaru Forester XS for 2 years with 20,000 miles. The dealer told me the residual was 52% and money factor of .00240. Anybody know if this is true or where I can find the real numbers.

Thanks
Big

CarMan@Edmunds

Hi Big. I should be able to help you out. According to the information that I have seen, if you were to lease a 2003 Subaru Forester XS through their captive finance company this month for 2 years with 12,000 miles per year, their base lease money factor and residual value should be .00205 and 63%, respectively. I don't know exactly what their 10,000 miles per year residual value for this vehicle should be, but it likely would be around 1% higher than the 12,000 miles per year residual value.

Car_man
Host
Smart Shoppers / FWI Message Boards

digthisxl

Hi Carman:

Do you have data on the 2003 4x4 GMC Yukon & Chevy Tahoe? 12k miles/yr.

Thanks!
-dig

digthisxl

Hi Carman:

Also, do you have data on the Envoy XL 4x4 SLE&SLT? 12k miles/yr.

Thanks!
-dig

sawyer20

My lease is up in April for my 2000 Lexus RX300. I will probably be over the mileage by 2-3K. Not bad, willing to pay the price to give it back. Was wondering what other charges may come into play? I have a couple of scratches on it. On is bad. others just look like wear and tear. Should I get my deposit back? The lender (US Bank) gave me a buying price of $29,000. Carmax is selling the same vehicle with same mileage for 4-5k less. They must be crazy. He also said I would have to pay a $250 fee. I was not told that in the beginning. Can a dispute that? What should I look for as far as penalties go? I don't want to be blind sided.

ncjudge

Carman:
Do you have info now on leases for the new Mazda 6s V-6? I'm interested in terms for a 15K/36 or 48 month lease in North Carolina.

Thanks for all your good work!!

CarMan@Edmunds

Hi again, dig. Sorry for the delay in my response, I have been away for a few days for Thanksgiving. The 2003 GMC Yukon and the Chevrolet Tahoe both have the same lease program. If you were to lease either of these two trucks through General Motors Acceptance Corp. this month for 3 years with 12,000 miles per, their base lease rate and residual value should be 6.50% and 55%, respectively.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds

Oops, I missed your second post, dig. If you were to lease a 2002 GMC Envoy XL 4WD through General Motors Acceptance Corp. this month for 3 years with 12,000 miles per, their base lease rate and residual value should be exactly the same as the ones that I mentioned in my previous post.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds

Hi sawyer20. Most banks have some sort of pamphlet that describes their excess wear and tear policy for leased vehicles. You should contact the bank that you are leasing your vehicle through to see exactly what their guidelines are for evaluating vehicles at lease-end.

Many banks charge their customers what is known as a disposition fee. This charge usually amounts to a couple of hundred dollars that is due at the end of their lease term. These fees seem to be a lot more common with independent banks than they are with manufacturers captive finance companies, who tend to waive their in an effort to retain customers. In order to find out if you are obligated to pay this fee, take a look at your lease contract. If you are required to pay it, it should be mentioned there.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds

You're welcome, ncjudge. I believe that Mazda's November lease program is scheduled to run through today. I would be more than happy to share any details that I can find out about their new lease program for the 2003 6 when I have an opportunity to take a look at it within the next couple of days. Drop me a note towards the end of this week to remind me of what you are looking for and I should be able to help you out. Talk to you then.

Car_man
Host
Smart Shoppers / FWI Message Boards

glebel

Hi Car_Man
Could you give me the latest leasing variables through VW credit for a 2003 Passat GLS 1.8T 5speed. This would be for a 36 or 39 month 15000 miles per lease.
Thanks for your help!

digthisxl

Car_man:

Thanks for all the answers so far. No problem on taking your time; what a great service you provide!!!

How about the December #s on a 4x4 model Totoya Sequoia SR5 (I think that's the less-fancy one).

Thanks again!
-dig

lazura

Car_Man,
Now that December has rolled around, I need the lease numbers (residual %, money factor) for the following vehicles for 3yr/15K mile per year. Thanks again.

2003 Audi A6 3.0 quattro
2003 Audi A6 2.7T quattro
2003 Lexus IS300 w/manual
2003 Infinity G35 w/leather

rshaffer1

Car_Man:

Could you help me with December's Residual% and Money Factors for the following vehicles, assuming a 36 month lease term and 12K miles per year?

2002 Mercedes E320 4Matic (New)
2003 Audi A6 2.7T Quattro
2003 Acura 3.2TL-Type S (no NAV)

My lease of a 2000 Acura 3.5RL is winding up(last payments 12/5 and 1/5/2003), and I'm anxious to move on. Any advice regarding negotiating with Acura dealership to early terminate, so i can get into the 3.2TL-S, would be much appreciated.

Thanks alot!
RS

CarMan@Edmunds

Hi glebel. I would be more than happy to help you out. If you were to lease a 2003 Volkswagen Passat GLS 1.8T Sedan through VW Credit for 3 years with 15,000 miles per prior to the end of the month, their base lease money factor and residual value should be .00220 and 50%, respectively. This car's 39 month money factor should be exactly the same, but its residual value would fall 2%.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds

You're welcome, dig. I have not seen Toyota's December lease program yet. Please stop back and give me a reminder early next week and I will let you know what I have been able to find out about this truck's current lease program. Talk to you soon.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds

Good morning, lazura. Let's take a look at the lease programs for the vehicles that you are interested in. First, if you were to lease a 2003 Audi A6 3.0 Sedan with quattro through Audi Financial Services this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00100 and 53%. The numbers for an otherwise identical lease of a 2003 Audi A6 2.7T Sedan with quattro should currently be .00130 and 54%.

Even though Lexus' lease program for the IS 300 was not scheduled to expire until January 2nd, they just introduced their new "December to Remember" promotion and may have enhanced this car's program even further. Check back with me in a few days and I will find out exactly what this car's current program is for you.

I have not had an opportunity to take a look at Infiniti's December lease program yet either, make sure to mention the G35 in your post when you check back with me in a few days and I will fill you in on what I have been able to dig up for you.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds

Hi RS. Unfortunately, Acura is not running any sort of early lease termination program that I am aware of. So if you were to turn in your current leased vehicle a month or two early, you would be liable for the remaining lease payment(s). You may be able to get the dealership that you are working with to make your last payment(s) for you, however doing so will just hamper your ability to get a good deal on your new car. There is no such thing as a free ride. For now, I will provide you with whatever information I have seen on the lease programs for the vehicles that you are interested in.

I have not seen Mercedes-Benz's December lease numbers yet. Please check back with me in a few days for the E-Class's information. As far as the Audi goes, check my previous post for this car's lease program. The only difference would be that vehicles leased through Audi Financial Services with only 12,000 miles per year would have residual values that are 2% higher than ones leased with 15,000 miles per year. Last but not least, we have the 2003 Acura 3.2TL Type S without Navigation. If you were to lease this car through American Honda Finance Corp. this month for 3 years with 12,000 miles per, I believe that their base lease money factor and residual value should be .00220 and 62%, respectively. AHFC may revise their standard lease money factors for December, so if you would like, ask me to check on this when you check back with me for the Mercedes info in a few days. Talk to you then.

Car_man
Host
Smart Shoppers / FWI Message Boards

troyy2k

I live in California, but and am planning on leasing an MDX for 4 years. If I were to lease the car from a dealership in Oregon, is there any way I could avoid paying taxes for the length of the lease?

troyy2k

Now that December has rolled around, I would like to know if Nissan has released any lease figures on the Murano SE or the Murano SL. Also, is there a decrease in the residual value if the car has the navigation option installed?

clscflm

Car_man,
Back again as finally expecting delivery of Passat 1.8T 5-spd in three weeks! In addition to the figures you gave a few messages up, are the 12,000 mile 39 month figures very different? Is VW still putting on the Greenlight leasing special this month? If so, could you give some details? Is it any better than their regular program? Thanks very much. ClscFlm

CarMan@Edmunds

Hi troyy2k. Unfortunately states have already figured out this tax loophole and closed it. If you purchase, or lease, a vehicle in a state that has low or no sales tax, you are still liable for your home state's tax. You will likely be assessed California's tax for your leased vehicle when you go to register it in your home state.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds

Hi again, troyy2k . The new Nissan Murano is finally on sale, and I suspect that they will indeed publish lease money factors and residual values for it for December. I have not had an opportunity to take a look at Nissan Motor Acceptance Corp.'s latest lease program yet, but I probably will within the next few days. Please check back with me in a couple of days with a reminder and I will be more than happy to fill you in on what I have been able to find out. Talk to you soon.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds

Hey clscflm. I just found out late yesterday that Volkswagen made some slight revisions to their lease program for December. I will try to find out exactly what these changes are and let you know tonight or tomorrow morning what I have been able to find out.

Car_man
Host
Smart Shoppers / FWI Message Boards

bigelm

Hi Car_Man:

Here I am again... :-)

Question.. I don't have all the details but hopefully you can guide me...

'03 Subaru Outback Wagon (4 cyl.) $1000 COD $323 15k/36 months and $316 12k/36 months. Does this sound right based on what lease programs are out there for Subaru? I live in Elizabeth, NJ. Thanks.

wbenedict

Car_man - I'm looking for residual & money factor info on a 2003 Explorer XLT - 36mo 12K mi/yr. We are already Ford Motor Credit customers, so this is a renewal lease. Any other pertinent info would be appreciated.

troyy2k

Hi,

I am interested in the following lease rates for the month of December:

1. 2003 Acura MDX base model (48 months and 51 months at 12,000 miles/year)

2. 2003 Acura MDX Touring + Navigation (48 months and 51 months at 12,000 miles/year).

Also, in general do the lease rates usually change (become better) towards the end of December? Thanks!

Troy

CarMan@Edmunds

Welcome back, bigelm. Unfortunately, I am going to need a little more information from you in order to calculate a sample lease payment for this vehicle. Preferably, it would be great if you would be able to supply me with this car's full MSRP and selling price. To be honest with you, you as a consumer should always know exactly what the selling price of the vehicle that you are interested in leasing is prior to finalizing your transaction. Knowing your vehicle's capitalized cost will allow you to see exactly how good a deal you are getting. If you can not come across this information, I at least need to know what trim level the vehicle that you are interested in is, i.e. L.L. Bean Edition, Limited, Base. Once I have this info I will try to calculate a sample lease payment for you that you can use for comparison sake.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds

Hi wbenedict. Although Ford's lease rates often vary depending upon what part of the country one is, in most areas the Ford Motor Credit 3 year 12,000 miles per base lease rate and residual value for the 2003 Ford Explorer 4-Door XLT 4WD should be 3.50% and 46%, respectively. In addition to this special lease rate, Ford is also providing $1,000 to $1,500 lease cash that may be used to reduce the capitalized cost of 2003 Explorers depending upon what area of the country you are in. Since you are a returning Ford Motor Credit lessee, you also should be eligible for $1,500 owner loyalty cash on this model. In some areas, Ford has a dealer volume bonus program on this model as well that provides a minimum of $500 cash to dealers to help them move product. Although you are not directly entitled to this money, it should assist you in getting a good deal.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds

Hey Troy. Acura is not providing any sort of support on the MDX, so if you were to lease one through American Honda Finance Corp. at this time you would have to use their standard lease money factors. I have not seen if Acura has revised their standard lease factors for the month of December yet, so for now I will provide you with the most recent numbers that I have seen. AHFC's 48 month, 12,000 miles per year (I have not seen a 51 month program from them) base lease money factor and residual value for a 2003 MDX non-touring, non-navigation, non-rear entertainment system should be .00205 and 57%. The money factor for the 2003 MDX Touring w/Navigation should be the same, but I believe that the residual value would fall to 55% or 54%.

Once a manufacturer, like Acura, sets their lease program for the month it is unlikely that they will make any revisions to it. Of course, certain manufacturers, most often domestic ones, do occasionally make mid-month enhancements to their incentives programs, sometimes including their lease programs. However, I find it highly unlikely that Acura will enhance their program for the MDX.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds

OK, ClscFlm, I am back with the information that you are looking for. If you were to lease a 2003 Volkswagen Passat GLS 1.8T Sedan through VW Credit this month for 39 months with 12,000 miles per year, their base lease money factor and residual value should be .00160 and 56%, respectively.

Volkswagen is indeed still running their "Green Light" lease program that does not require any money at lease signing, but in order to take advantage of this program, your base lease money factor for this car would increase to .00210. If I was in your situation, I definitely would stick with this car's normal lease program.

Car_man
Host
Smart Shoppers / FWI Message Boards

gperr

Car_man,

As I sit here and dig out from our 8" of snow...

Can you please provide me the December IFS and Chase Bank (if you have it), residuals and money factors for the Infiniti G35 Sedan- Luxury Leather for 24, 36, 39, and 42 months and 12k miles.

Thanks

Gregg

clscflm

Car_man for the information! I think the numbers for 39/12 on the '03 VW Passat sound pretty good too. Cheers, ClscFlm

cek1967

Hi Car Man: do you have the numbers for December for the Pilot yet? Thanks very much!

rshaffer1

Car_Man:

You were going to check into Money Factor and Resid% for 2002 E320 4Matic. Any luck?

Also, I've been talking to a friend who put up a substantial "refundable security account" in order to reduce his monthly lease payment on a Mercedes. How do these work?

Thanks!
RS

tvandy

Car man,

I've gone away from the MB's and back to the trusty Lexus models. I'm not sure about a RWD car in the Chicago winters yet. I'm considering the new ES (even though I'm not thrilled about the design) the RX and the GX. Can you give me the MF and the residual for these 3 cars if I were to lease for 3 years at 10,000 miles.

Thanks in advance

dll2000

Hi Car_Man!

I just wanted to see if you had the December lease numbers for the Audi A4 yet?

Here are the specifics:

Washington DC Area Dealers
2003 A4 3.0 Sedan 6sp
36 month term
15K miles per year

Looking for the Residual/Money Factor figures for this region.

Thanks!

cutehumor

my dad has a 2000 ranger that he will have to turn in on 4/21/03. he has a big mileage penalty coming. close to 55k miles at 12 cents a mile; he leased through ford motor credit. will they allow him to make payments on the mileage penalty? or will he have to make the penalty payment in full when he turns in the truck?

hicaira

He might be better off negotiating to purchase the truck. Based on the $6.6k mileage penalty, he would end up with the truck for only a couple of grand more.

HiC