Hi gtom71. There is a great discussion over on the Smart Shoppers Message Board called Real-World Trade-In Values where a couple of our most knowledgeable community members, Bill and Terry, are kind enough to share their thoughts on what vehicles would currently bring at auction. They personally go to many auctions every month and usually can give others a pretty good idea of a vehicle's current value. You should check there for feedback on this vehicle's price.
Hello mchlhgn1. I would be more than happy to tell you what I think of the monthly lease payment that you were quoted for this car. It would be very helpful if you could provide me with its full MSRP and selling price. Do you have this information?
Car_man, I'm still shopping the Saab 9-3. Can you give me the money factor and residuals for both the Arc and Linear, 36 mo, 15K per, for the month of April? Also, what is the GM rebate on these models and is the rebate available with a lease?
Hi nbm. Let me begin by saying that General Motors does not actually publish lease money factors for its vehicles. Instead it issues lease interest rates for them. These rates can be converted to approximate lease money factors by dividing them by 2400. Here is the info that you are looking for. If you were to lease a 2003 Chevrolet Trailblazer EXT through General Motors Acceptance Corp. in Alabama this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be 6.5% and 50%, respectively. The numbers for an otherwise identical 4 year lease should be 6.5% and 44%. If you were to lease this truck with only 12,000 miles per year, its residual values would be 3% higher than the 15,000 miles per year residual values that I just gave you. I would be more than happy to calculate a sample lease payment on this truck for you. It would be a big help if you could provide me with its full MSRP and selling price first. Do you have this information?
Welcome back, garonoff. I should be able to give you an idea of what the current lease rate and residual value should be like for the truck that you are interested in. First though I am going to need a little additional information from you, like the exact trim level of the Escape that you are interested in, how long you plan on leasing it for, how many miles per year you need to be able to drive, and what state you are in. Once I have this info I should be able to help you out. Talk to you soon.
Hi lease_rx300. I have not seen Lexus' April lease program yet. The lease money factor that you were quoted seems very reasonable though. I should have an idea of what Lexus' April program is like within the next couple of days, but it may be too late to help you out. Sorry about that. Please feel free to check back with me in a couple of days if you have not finalized your deal yet and I would be more than happy to fill you in on what I have been able to find out.
Hey Steve. I have not seen all of the details of Jaguar's new dealer cash on the X-Type yet. However, if it is anything like the dealer cash promotions that Jaguar has offered in the past, there is a very good chance that this dealer cash is only available on non-Jaguar Credit deals. This means that it is only available for consumers who purchase an X-Type with cash or who finance one through an outside lending institution. If this is the case, then it will not provide you with any sort of advantage in your negotiations since you are leasing through Jaguar Credit.
Greetings wayde. I have not seen Acura's or Honda's April lease programs yet. Please feel free to check back with me early next week and I should have most of the information that you are looking for. Talk to you then.
I am aware of the Dealer Cash for leasing outside of Jaguar Credit and buying for cash, but Automotive News specifically says CUSTOMER incentives for the $2000. Also, the amount that the dealer gets is not the same $2000. Strange. Steve
Hi again Car Man. I need your help concerning the MF and RV for a 2003 Nissan Maxima SE with sunroof and Titanium Package. The MSRP is around 28300, and the target asking price is 23200. This is for 15,000 miles and 36 months. I am not sure if Nissan is still offering leases on 03's but every dealer in the Philly area has 15-20 Maximas on the lot and are advertising to get rid of them. I developed an excel program to calculate leases using the article from edmunds on leasing, but I am not sure if I have all the elements correct. using the 2003 Altima MF and RV (.0017/ 53%), 0 down payment,550 acquisition fee, and taxes rolled into the lease, I came up with around 380/month. If you have time could you tell me if the figure is accurate based on the given numbers above. If you can't do the whole calculation, the RV and MF would be sufficient. Thanks Again, Lou!
Could you provide the current residual value and lease interest rates on a '03 Ford Expedition, Eddie Bauer, 4x4, in the state of IL. I'd like to know for both 12xxx and 15xxx over a 36 month lease.
Also curious if that RV is negotiable with the dealer. I plan to purchase using the X-Plan, so I'm trying to figure out what I can or can't expect to be charged in fees and what all is really negotiable. The dealer I've started talks with seems VERY willing to deal right now.
On http://www.Jagtalk.com there was a response to my question. Perhaps it will help you with respect to the published $2000 rebate. I am in New York but a local dealer told me exactly the same thing. It is: Steve
Not sure where you all live but the incentives on West Coast are as follows
$2000 Dealer incentive (not customer rebate) on 2003 S-Types with the either the v6/manual combo or the Sports package(only the old style with the grey wood).
$2000 Dealer incentive for X-Type with Manual transmission OR with the old style sport package.
This may be a stupid question, but if you pay for the entire lease amount up front, do you still have to pay the lease interest/money factor amount? Can you just pay for the vehicle depreciation in one lumps sum?
I am trying to run the numbers on a recent lease quote. The dealer gave me a quote of $225 for a '03 Civic EX w/ side airbags with $935 down (tax rolled in)
When I added the numbers he told me that there is tax on the bank fee:
> the bank fee of $550.00 is taxes upfront and is not factored. ($47.37) When I multipled the BF by my NY Tax rate 8.25 it equals 45.38. Bank Fee $550.00 Tax on Bank fee 8.25 45.38 DMV (Plates) $112.00 ------ 707.38 1st month DownPayment $205.00 ------- Total Down 912.38
In every calculator I've seen Bank Fee is a Fee and NetCap = DealerQuote + fees - credits
Does Netcap = DealerQuote + BankFee? + Tax on bank fee? + plates? -DownPayment? Or are BankFee + Tax on bank fee not considered a fee and do not affect NetCap? Also is the bank fee tax also rolled into the monthly payment?
I just called the Chevrolet dealer about residuals for a Corvette. The Chevy dealer tells me the residual is 60 %. If I use the "True Cost to Own" I would've got a 79 percent residual. This makes a huge difference in the monthly payment.
I don't think you're gonna be able to find that kind of reference. I think Car_Man has to work pretty hard to pull that info together, and he's the best I've seen. From what I've picked up, each lender/lessor sets their own residual values and for their own reasons. Best prediction about average retained value however far into the future and after however many miles is just one influence or factor. Set artificially high, residuals can move cars that are in over supply, for example.
Most manufacturers give you a reduced interest rate (money factor) when you pre-pay a lease. For instance, with the Ford Credit leases that I am familiar with, they reduce the interest rate by 2.25% on a pre-paid two year lease. Pre-paying does not mean you shouldn't pay any interest though. Interest is based on the entire car, not just the depreciated part. You are, in effect, "borrowing" the amount of the residual for the term of the lease. And you pay interest on money that you "borrow."
Steve, I still doubt that this cash may be combined with Jaguar Credit's special lease program. Jaguar's main cash incentives usually are not compatible with special lease rates.
Hey ncjudge. You slipped a message in during one of my posting frenzies...I almost missed that one . Here is the information that you are looking for. If you were to lease a 2003 Saab 9-3 Arc Sedan through Saab Financial Services Corp. for 3 years with 15,000 miles per right now, its base lease money factor and residual value should be .00022 and 50%, respectively. The numbers for an otherwise identical lease of a 2003 9-3 Linear Sedan should be .00096 and 50%. Saab also has $2,000 lease cash available on the 9-3 Linear Sedan that may be used to negotiate a lower capitalized cost. There is no lease cash available on the recently introduced 9-3 Arc Sedan yet.
Hi again lmp180psu. If you were to lease a 2003 Nissan Maxima SE through Nissan Motor Acceptance Corp. this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00097 and 47%, respectively. I imagine that you will be able to negotiate a fairly attractive deal on an '03 Maxima right now given the fact that there is already a decent supply of the completely redesigned 2004 models out there. Creating an Excel spreadsheet to calculate lease payments is a great idea. I have done so myself. I will calculate a sample lease payment on this car using the program that I just posted the details for so that you can see if your spreadsheet is working properly. According to my calculations, if you were to lease a 2003 Nissan Maxima SE (MSRP: $28,300 / Cap. Cost: $23,200) through NMAC this month for 3 years with 15,000 miles per, your zero down, pre-tax monthly lease payment should be right around $311.
I just used the info you gave me on my excel spreadsheet, and got $310.38; I guess I set it up right BTW, did you have an acquisition/ lease-startup fee in your calculation, because I got the $310.38 without an acquisition fee, and $326.19 with a $550 acq. fee. 2 more questions: 1) Can you roll sales tax into a lease ( I did my spreadsheet assuming you can)? 2) Do you think Nissan would still offer leases on the 03 Maxima in 3-4 months, if there are still vehicles on dealer lots (most dealers in the philly area have 20-25 now)?
I am surprised that the residual value is so low, almost like it is an american car
Carman: Hello again, this car shopping thing takes longer than you expect...
Do you have April mf and rv for Infinity G35 sedan manual trans, 36 months 15K miles/year?
Wanted to close something last weekend, but couldn't find the right inventory - guess not too many want sport sedans stripped with manuals. Both 3 series and G have that problem.
Hi Car Man: Just a couple of questions for you. I've recently put down $500 to acquire a 2003 BMW 325 Ci. I've decided to lease and here's how the numbers fall:
36 mo / 12k miles/yr MSRP 34595 Dealer giving $1000 off MSRP I'm planning for total $1500 out of pocket, which includes 1st payment. To get the cap cost, they subtracted their $1000 disc, and my 1009.86 down payment. Then added in 3% Virginia tax ~$1038, $525 Acq Fee, $399 Document Fee, $38.50 DMV fee. This gives a cap cost of $34635. Residual is $21103. That makes depreciation $375.88/mo. They quoted a rate factor of 0.00205 because they "waived the security deposit." Otherwise it would be 0.0019. That sounded a little weird to me. I told them that I thought others were getting 0.0015 and they told me the rates are set by BMW Finance. Does that sound right? That makes for $114.26 interest/mo for a total payment of $490.14. Also, is it right that they are charging me 3% VA state tax on the full cost of the vehicle? I had thought that the 3% would just be added to each lease payment. Does it sound correct to pay tax on the full cost of the vehicle? If I find myself with an extra 1K prior to signing the papers, I'll put that to reduce the cap by another 1k which should bring payments to $460 (then I won't be paying interest on the fees over 3 years). Thanks for any advice!
First, please disregard my earlier request for Ford Escape leasing info. I did some more research, and came to the determination that Ford, nor the Escape are good leasing paths. Onto other deals...
I've got a quote for a 2003 RX300. Please let me know what you think:
Millennium Silver AWD 4dr Premium Plus Value Pkg with Electorchromatics HID Headlamps Rear Spoiler Wood and Leather Steering Cargo Mat Accessory Crossbars Wheel Locks Cargo Net
Negotiated Cap Cost $36,609 No cap cost reduction Dealer pays half bank acquisition fee ($300) 39 Month lease 12K Miles Residual value $21,024 MF .00131 Monthly Payement $498 INCLUDING sales tax
I'm about to order a 2004 325Ci with metalic paint, leather, prem pkg, sp pkg, and heated seats (MSRP $36,620). I've been quoted $35,865 for the car. I will be putting $2000 down and want a 36 month 12K mile lease. Can you please tell me what the residuals, money factors, and lease payments I should expect to get. I can't order till May so that I can take delivery in June. Should I be able to lock these figures in if I want to?
I have a 98 Toyota Corolla with 84K miles and $3 grand in overmileage I owe when I return it in 2 months. The car has a residual buy of $8,000 at 1.9% though KBB says it is worth $4000.
I want to purchase, not lease my next car.
How do I minimize the loss on the lease when I go to buy another car?
I was quoted by BMW dealer (on a 10,000 mile/yr 36-month lease) of 65% residual and money factor of .0026. He's giving me a $1,400 discount off msrp (seems pretty good for an 04) and, after adding in $525 fee gives a payment (no down) of $528 (msrp of $39,370). 65% and .0026 seems flakey to me. Too high residual and too high money factor. I thought I had read that the BMW Financial money factors on these cars were more in the .00225 to .00235 area and residuals of 63% on a 10,000 mile lease. Can someone clue me in as to whether these numbers seem realistic??? Thanks!
Hello gbrumley. Let me begin by saying that Ford's lease program for vehicles often varies by region. I have not seen its exact lease program for your area, but I will provide you with info on what I believe is Ford's mode widely available program. According to the information that I have seen, if you were to lease a 2003 Ford Expedition Eddie Bauer, 4x4 through Ford Motor Credit this month for 3 years with 15,000 miles per, its base lease rate and residual value should be 7.50% and 48%, respectively. It's 12,000 miles per year residual value would be 2% higher. Ford also has lease cash available on this truck in certain areas that may be used to reduce its capitalized cost. If you are taking advantage of Ford's X-Plan, I don't think that you need to worry about any of these numbers because I believe that your dealer is obligated to use Ford Motor Credit's base lease program to calculate your monthly payment.
Thanks for the additional information. I was finally able to dig up all of the details of the new Jaguar incentives. Let me know if you have any additional questions about them.
Hi jesse253. That is not a stupid question at all. Interestingly enough, consumers who pre-pay leases still have to pay interest. Pre-paid leases are calculated exactly the same as normal leases, with one minor exception. That is many banks will provide consumers with a reduced interest rate if they make all of their payments in advance. The exact break in the rate will vary from bank to bank.
Hi jasmith52. I am not aware of any free on-line source of lease money factor and residual value data. I usually am able to find out that information for consumers through. I would be more than happy to give you an idea of what this car's current residual value should be like if you let me know the exact model that you are interested in, how long you plan on leasing it for, and how many miles per year you plan on leasing it with.
Yep, you did an excellent job setting up your spreadsheet, lmp180psu. That is exactly the same monthly payment that I came up with. I didn't bake the lease acquisition fee into your vehicle's capitalized cost when I calculated the sample payment for you, but consumers are usually allowed to do so. Sales tax laws vary from state to state. I believe that some states will allow consumers to have tax added into their monthly lease payments and some require that it is paid at lease signing. I really do not know exactly how tax is calculated on leased vehicles in your area. It would be best to check with your dealer or your local Department of Motor Vehicles to find out exactly how it works where you are. In answer to your second question, I definitely expect Nissan to continue offering a special lease program on the 2003 Maxima for the next several months.
Hey Squirrel. Unfortunately, I haven't seen Infiniti's current lease program yet. For some reason no one seems to know much about it this month. I suspect that its program for April is still very similar to its March program. You can probably base your calculations on last month's info and come pretty close to what it would cost to lease one now. I'll keep digging for you.
Car_man Yes, I would very much like to know the details of the new Jaguar incentives. In my case 2.5 or 3.0, 36 months, 15,000 miles. Thanks again!!! Steve
Car_man - can you suggest a way I could figure out whether or not the state of Ohio charges a Sales/Use Tax (that is paid upfront) on consumer leases? I thought the only tax paid was the sales tax that gets added to your individual payment. One lease quote makes mention of this as part of the down payment, others I've gotten do not? Thanks for your help!
Let me preface this by saying that I have never leased before. I'm in a situation where I'll be going back to school starting this fall and I'm not sure how much longer my current car is going to make it.
I found this deal, where you can lease a Ford Mustang or Ranger for $5 day. It looks like you have to put down about $3K up front.
I would like to know if this looks like a decent deal. Please make me aware of any potential "gotchas" when it comes to leasing and any questions I need to get answered before I go to the dealship.
I want to lease this loaded 3.5 V6 Altima with an MSRP of 28,200 and some change. Hoping to get it for 25,500. What would be the lease amount for a 36 or 48 month lease with 12K miles. Hoping to put nothing or little down. What are the MF and residuals on the 3.5 V6 Altima (loaded)? Thanks.
hi car man, sorry for buggin you but what is the MF and residuals for a 2004 Lexus RX330 and a 2003 Mercedes c230k sedan for 48 months/12k miles a year in southern california, thanks
Hi martini4me. Pour me one too, I need it . The dealership that you are working with told you that BMW Financial Services' base lease money factor for the 2003 325Ci is .00190, but it actually is .00150. It definitely appears to me as though they are marking up BMW FS' base lease money factor to add additional profit to deals. This really does not surprise me because I have been hearing more and more about BMW dealers marking up lease money factors lately. However, you should insist that they use BMW's base lease money factor when they calculate your monthly lease payments for this car. This rate will increase slightly if you decide to have your security deposit waived.
As far as this car's tax goes, states calculate tax on leased vehicles differently. I wouldn't worry about them calculating the tax on your leased car incorrectly. They obviously lease vehicles all of the time and know what they are doing. It would be a major violation for them to intentionally overtax consumers.
Finally, as far as the down payment that you are considering making goes, I personally would not do it. I usually advise consumers to lease with as little money down as possible. Consumers almost always can lease vehicles without making any down payment at all. The problem with down payments on lease vehicles is two-fold. One is that if your vehicle is stolen and not recovered or totaled in an accident during your lease term your insurance company pays off the bank that you are leasing through and your down payment essentially disappears. The second problem is that down payments on leases do nothing to establish any equity. So if you were to make a $10,000 down payment on this vehicle or no down payment at all, its lease-end purchase price would still be exactly the same.
No problem, garonoff. I can see why you wouldn't want to lease the Escape. It doesn't have the best lease program available on it right now. As far as the Lexus RX 300 goes, I believe that the lease money factor that you were quoted is indeed Lexus Financial Services' base money factor for this model. I just worked some numbers and the payment that you were quoted looks to me in line with the numbers that you were quoted too. If you like the truck, I personally don't see any reason not to go for this deal.
Greetings madmanager. If you were to lease a 2004 BMW 325Ci through BMW Financial Services right now for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00225 and 64%, respectively. According to my calculations, if you were to lease this car (MSRP: $36,620 / Cap: $35,865) using this program, your zero down pre-tax monthly lease payment should be right around $479. I based this payment on zero down because I usually advise consumers to put as little money down as possible when leasing. See post #6125 for an explanation why. If you still decide to put $2,000 down, your payment would drop to $419. Having said all of this, BMW's current lease program only runs through the end of April. So if you can't place your order until May, then there is a chance that the lease program for this car will be different.
Hi js34. Unfortunately you are in a difficult situation. If you just turn in your car at the end of your lease term, then you will owe $3,000 in excess mileage charges plus a penalty for any excess wear and tear that your car may have, if any. If you decide to purchase your vehicle at the end of your term in an effort to avoid this penalty, you currently will have to pay $8,000 for a vehicle that you estimate to only be worth $4,000. Your best option in this situation is to just turn the car in and pay the penalty, unless your bank is willing to work with you on the car's purchase price. Some banks will negotiate and others will not. I have heard that Toyota Financial Services is not all that willing to negotiate in some areas. Even if your lease is through them you might as well see if they would be willing to work with you on the price, you certainly have nothing to lose by asking. Place a call to your bank and see what they can do for you. You may have to work your way up the corporate ladder in order to find someone who has the authority to work with you. In your negotiations, make sure to give the indication that you are going to be right at your mileage limit at lease-end. If they believe that you are significantly over, they will be less likely to work with you because they want your fat excess mileage check and if you are way under they would be less likely to work with you because your car will be worth more at auction. There certainly is no guarantee that they will lower your purchase price, but it's worth a shot. If not, you will have to bite the bullet, turn your car in, and pay the penalty.
Hi white6. It appears to me as though another BMW dealer is attempting to mark up BMW Financial Services base lease money factor. BMW FS' base factor for a 2004 330Ci is currently only .00225. They were correct when they stated that this car's 3 year 10k residual value is currently 65% and that BMW FS' lease acquisition fee is $525 though.
Can you give me the lease numbers for a 2003 Toyota Prius. MSRP = 20,980; negotiated price = 18,500. I'm in N. Virginia and would like a 3 year 15k/year lease. Is Toyota offering any good lease plans now?
Here's the new info, Steve. In early to mid-march, Jaguar made an unscheduled enhancement to the incentives program for the 2003 X-Type. They introduced $2,000 consumer cash on 2003 2003 Jaguar X-Type Sport models with any transmission and on Jaguar X-Type Non-Sport models with manual transmissions. I believe that this cash may be combined with Jag's special financing and lease programs. The lease money factors and residual values that Jaguar introduced on January 24th remain unchanged and are scheduled to be good through the end of April. I believe that I have already provided you with that data, but let me know if you need it again.
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I'm still shopping the Saab 9-3. Can you give me the money factor and residuals for both the Arc and Linear, 36 mo, 15K per, for the month of April? Also, what is the GM rebate on these models and is the rebate available with a lease?
Thanks.
Car_man
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Steve
0 down payment,550 acquisition fee, and taxes rolled into the lease, I came up with around 380/month. If you have time could you tell me if the figure is accurate based on the given numbers above. If you can't do the whole calculation, the RV and MF would be sufficient.
Thanks Again, Lou!
Could you provide the current residual value and lease interest rates on a '03 Ford Expedition, Eddie Bauer, 4x4, in the state of IL. I'd like to know for both 12xxx and 15xxx over a 36 month lease.
Also curious if that RV is negotiable with the dealer. I plan to purchase using the X-Plan, so I'm trying to figure out what I can or can't expect to be charged in fees and what all is really negotiable. The dealer I've started talks with seems VERY willing to deal right now.
Thanks for your help!
Steve
Not sure where you all live but the incentives on West Coast are as follows
$2000 Dealer incentive (not customer rebate) on 2003 S-Types with the either the
v6/manual combo or the Sports package(only the old style with the grey wood).
$2000 Dealer incentive for X-Type with Manual transmission OR with the old style
sport package.
Ideally it would be an online link that is no charge.
Thanks -
lease quote. The dealer gave me a quote of $225 for a '03 Civic EX w/ side airbags with $935 down (tax rolled in)
When I added the numbers he told me that there is tax on the bank fee:
> the bank fee of $550.00 is taxes upfront and is not factored. ($47.37)
When I multipled the BF by my NY Tax rate 8.25 it equals 45.38.
Bank Fee $550.00
Tax on Bank fee 8.25 45.38
DMV (Plates) $112.00
------
707.38
1st month DownPayment $205.00
-------
Total Down 912.38
In every calculator I've seen Bank Fee is a Fee and NetCap = DealerQuote + fees - credits
Does Netcap = DealerQuote + BankFee? + Tax on bank fee? + plates? -DownPayment?
Or are BankFee + Tax on bank fee not considered a fee and do not affect NetCap?
Also is the bank fee tax also rolled into the monthly payment?
At this point I'm truly at a loss. Help
Avi
I need a better reference for residuals.
Any suggestions for a reference ??
From what I've picked up, each lender/lessor sets their own residual values and for their own reasons. Best prediction about average retained value however far into the future and after however many miles is just one influence or factor. Set artificially high, residuals can move cars that are in over supply, for example.
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I am surprised that the residual value is so low, almost like it is an american car
Do you have April mf and rv for Infinity G35 sedan manual trans, 36 months 15K miles/year?
Wanted to close something last weekend, but couldn't find the right inventory - guess not too many want sport sedans stripped with manuals. Both 3 series and G have that problem.
Oh well, and thanks a million,
Squirrel
36 mo / 12k miles/yr
MSRP 34595
Dealer giving $1000 off MSRP
I'm planning for total $1500 out of pocket, which includes 1st payment.
To get the cap cost, they subtracted their $1000 disc, and my 1009.86 down payment. Then added in 3% Virginia tax ~$1038, $525 Acq Fee, $399 Document Fee, $38.50 DMV fee. This gives a cap cost of $34635. Residual is $21103. That makes depreciation $375.88/mo. They quoted a rate factor of 0.00205 because they "waived the security deposit." Otherwise it would be 0.0019. That sounded a little weird to me. I told them that I thought others were getting 0.0015 and they told me the rates are set by BMW Finance. Does that sound right? That makes for $114.26 interest/mo for a total payment of $490.14. Also, is it right that they are charging me 3% VA state tax on the full cost of the vehicle? I had thought that the 3% would just be added to each lease payment. Does it sound correct to pay tax on the full cost of the vehicle? If I find myself with an extra 1K prior to signing the papers, I'll put that to reduce the cap by another 1k which should bring payments to $460 (then I won't be paying interest on the fees over 3 years). Thanks for any advice!
I've got a quote for a 2003 RX300. Please let me know what you think:
Millennium Silver
AWD 4dr
Premium Plus Value Pkg with Electorchromatics
HID Headlamps
Rear Spoiler
Wood and Leather Steering
Cargo Mat
Accessory Crossbars
Wheel Locks
Cargo Net
MSRP 40,431 (including $575 Destination)
Invoice $35,360 (including $575 Destination)
TMV $36,600 (including $575 Destination)
Negotiated Cap Cost $36,609
No cap cost reduction
Dealer pays half bank acquisition fee ($300)
39 Month lease
12K Miles
Residual value $21,024
MF .00131
Monthly Payement $498 INCLUDING sales tax
Please advise, and thanks much for your time!
I have a 98 Toyota Corolla with 84K miles and $3 grand in overmileage I owe when I return it in 2 months. The car has a residual buy of $8,000 at 1.9% though KBB says it is worth $4000.
I want to purchase, not lease my next car.
How do I minimize the loss on the lease when I go to buy another car?
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Yes, I would very much like to know the details of the new Jaguar incentives. In my case 2.5 or 3.0, 36 months, 15,000 miles. Thanks again!!!
Steve
I found this deal, where you can lease a Ford Mustang or Ranger for $5 day. It looks like you have to put down about $3K up front.
I would like to know if this looks like a decent deal. Please make me aware of any potential "gotchas" when it comes to leasing and any questions I need to get answered before I go to the dealship.
Thanks
http://www.new-cars.com/incentives/ford-rebates.html
I recently was looking around at a 2003 Taurus SES with the following options:
Leather
Power Pedals and Drivers seat
CD-Player
Alloy Wheels
Heated Front Seats
Base 3.0 V6
MSRP: 21k or so
The lease I got was as follows:
$0 Down, with first months payment and security deposit due at signing.
36 months
12,000 miles per year
$.15 per mile over that
Monthly payment: $260 and change
How did I do?
Thanks.
AS
Nicole
As far as this car's tax goes, states calculate tax on leased vehicles differently. I wouldn't worry about them calculating the tax on your leased car incorrectly. They obviously lease vehicles all of the time and know what they are doing. It would be a major violation for them to intentionally overtax consumers.
Finally, as far as the down payment that you are considering making goes, I personally would not do it. I usually advise consumers to lease with as little money down as possible. Consumers almost always can lease vehicles without making any down payment at all. The problem with down payments on lease vehicles is two-fold. One is that if your vehicle is stolen and not recovered or totaled in an accident during your lease term your insurance company pays off the bank that you are leasing through and your down payment essentially disappears. The second problem is that down payments on leases do nothing to establish any equity. So if you were to make a $10,000 down payment on this vehicle or no down payment at all, its lease-end purchase price would still be exactly the same.
Car_man
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Car_man
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Car_man
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Car_man
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Can you give me the lease numbers for a 2003 Toyota Prius. MSRP = 20,980; negotiated price = 18,500. I'm in N. Virginia and would like a 3 year 15k/year lease. Is Toyota offering any good lease plans now?
Thanks for the great service you provide!
Car_man
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EX with 12,000 miles for both 36 and 48 months
also if you have it for the LX model with the same specs, that would be great.
Thanks!