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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, edhawk7. General Motors publishes lease interest rates for its vehicles rather than the money factors that most other banks use. Its lease rates must be converted into approximate money factors to calculate lease payments using the normal formula. OK, if you were to lease a 2003 GMC Yukon through General Motors Acceptance Corp. this month for 4 years with 12,000 miles per, its base lease rate and residual value should be 6.50% and 51%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi again msc5. If you were to lease a 2003 Audi A6 3.0L Sedan without quattro through AFS right now for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00025 and 48%, respectively. The numbers for an otherwise identical lease of a 2003 BMW 525i through BMW FS should be .00120 and 57%, respectively. We've double checked these numbers so they are definitely right. If the dealers that you are working with do not want to lease you vehicles using these numbers, then they are trying to mark up their manufacturers' base factors in an effort to add additional profit to your deal. If there is any sort of competition for your business in your area, use this to your advantage during your negotiations and tell them that you know what the base money factors are and that you will lease through their competitor if they do not let you use them. As far as the 2003 Lexus ES 300 goes, according to the most recent information that I have seen, if you were to lease one through Lexus Financial Services this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00180 and 53%, respectively. This car's 12,000 miles per year residual value would be 2% higher.

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  • taxd00dtaxd00d Member Posts: 8
    Sorry for another Audi post.

    CarMan could you give me the MF and Residual for 2y/15k per and 3y/15k per for an 2003 Audi 3.0L Quattro Sedan and the MF and Residual for the same terms for a 2003 Audi 1.8T Quattro Sedan? I live in West Virginia.

    Your information in regards to a Mercedes C320 4Matic kept me from falling prey to dealer tricks. When they wouldn't use your info, I walked. Thank you Carman!!!
  • twoof1twoof1 Member Posts: 308
    carman,
    Can you tell me what the money factor and residual are for a FWD Pacifica on a 3-yr, 15,000 mile lease.
    I just heard that they have already intiated a $1,000.00 lease rebate incentive.
    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Wow Audis sure are popular this month :). Let's take a look at the vehicles that you are interested in, taxd00d. If you were to lease a 2003 Audi A4 3.0L Sedan with quattro through Audi Financial Services this month for 2 years with 15,000 miles per, its base lease money factor and residual value should be .00070 and 63%, respectively. The numbers for an otherwise identical 3 year 15,000 miles per lease should be .00070 and 54%.

    As far as the 2003 Audi A4 1.8T Sedan with quattro goes, if you were to lease one through AFS this month for 2 years with 15,000 miles per its numbers should be .00115 and 66%, respectively. The numbers for an otherwise identical 3 year 15,000 miles per lease should be .00115 and 57%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello twoof1. Funny that you should mention the Chrysler Pacifica. I just saw my first one (on the road, I did get to check it out at the auto show) a few hours ago. If you were to lease a 2004 Chrysler Pacifica 2WD through Chrysler Financial this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00165 and 53%, respectively. Unfortunately, Chrysler technically has not introduced any lease cash on this model yet. However, it is now providing $1,000 owner loyalty cash on it to current owners or lessees of Chrysler, Dodge, and Jeep products. DCX also has some conquest cash on the 2004 Pacifica for owners of select competitive products.

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  • ct_yankct_yank Member Posts: 10
    Wow, a lot of Audi questions lately.
    Car man can you please provide the Residual Value and money factors for an Audi A4 3.0 with quattro for a 3 year / 36K lease in Connecticut. Thanks!
  • im_brentwoodim_brentwood Member Posts: 4,883
    Heya..

    I ran this through my Lease Prophet computer...

    SouthTrust Bank loves these suckers! Volvo Finance, as Car_Man said,stinks. Basically, there's no need to subvent these leases at the moment.

    South Trust:

    LEVEL 1 (720/740+ score) Buy rate is .00215

    On an '03 new..

    2.5T is 57% 36mos, 50% 48mos.
    T-6 is 58% 36mos, 50% 48 mos.

    Now, SouthTrust allows you to extend the terms for 3 mo with the same residual. I.E. 39/51.

    Add 1pt for 12k/yr versus 15K/yr.. in reality, 15K makes sense for 1 point on the res I think.

    Acquisition fee is 595 or 795.. i can double-check if needbe.
  • twoof1twoof1 Member Posts: 308
    carman,
    Thanks for the quick response. I have a dealer offering the same money factor as you stated (.00165) but is saying the residual is a rediculously low 46%. Do you think he is trying to play me?
    Where did you get your 53% residual from?
    Thanks for the help!
  • im_brentwoodim_brentwood Member Posts: 4,883
    What term? Perhaps he's quoting you 48mos versus 36? Dealers do NOT have the ability to alter residuals as a rule.
  • twoof1twoof1 Member Posts: 308
    As I stated in my original message, this is for a 36 month 15,000 mile lease.
  • im_brentwoodim_brentwood Member Posts: 4,883
    I got 53%... he's quoting you a 48mo residual I would assume.

    What market are you in? If it slows down later I'll run it through Lease Prophet.
  • jon330cicjon330cic Member Posts: 20
    CarMan,
    I've scanned recent postings and haven't found this info specifically - can you tell me what the June base MF and Residual numbers are for 36 mo/12K mi lease, 2004 BMW 330Cic?

    Local dealer is telling me 0.0022(base) and 64%. Is the MF really that high for the '04 model (0.0012 for '03)?

    Thanks for your help!
  • twoof1twoof1 Member Posts: 308
    I'm in so. Cal if that helps.
    Thanks for your input.
  • mzinzimzinzi Member Posts: 33
    Hi CarMan...

    I am also possibly interested in an Audi A4, here are the details:

    2003 Audi A4 3.0 Quattro for June
    12k/15k miles
    36/39 months

    I live in CT

    If you can get the MF and Residuals, that woould be great!

    Thanks!
  • g17g17 Member Posts: 45
    Hey car_man, its me again. Just wanted to know if you got a chance to view MB's numbers for June yet. Here's what I was given on a '03 MB C230k sedan auto, C2, htd seats, 6 disc chgr.(mSRP 32,685)

    $445/mo for 39mo. 15k per year with $795 down. The 445 includes the doc fees and 6% NJ tax.

    thanks a ton...
  • gperrgperr Member Posts: 163
    Car_man,

    Have you had an opportunity to view the Toyota rates? Specifically the residual and MF for 12K miles for 36 & 39 months on the following:

    Toyota Highlander V6 AWD

    Thanks--Gregg
  • im_brentwoodim_brentwood Member Posts: 4,883
    Yeahup. I dont have Cali banks as I am in NJ, but my info jives with Car_Man's
  • wannaudiwannaudi Member Posts: 4
    Hi Car_Man,
    I've been quoted 30750 for an a4 1.8 quattro with all options up here in mass. I haven't decided whether to lease or buy but I was wondering what my payments would look like on a 39 month/36K mile lease, assuming I only pay the drive off fees of about $1300. I believe the residual is 59% but the dealer is being a little aloof about the MF, which I think is .00115? Thanks for your help yet again.
  • fernhillfernhill Member Posts: 17
    Your Acura TSX numbers are on the mark. Last night I leased a TSX, 3 yr, 15,000 miles, non-navi, with a money factor of .00205 and residual of 63%. Live near Phila.
  • 12341234 Member Posts: 28
    Hi Car Man,
    I'm thinking of leasing the 2003 Civic LX. Here's the promotion AHFC is currently running:

    2003 Civic LX Automatic Transmission Sedan Special AHFC Lease Special
    FEATURED LEASE: 2003 Civic LX sedan with automatic transmission (Model# ES1653PW) for $159.00 per month for 48 months with $999.00 capitalized cost reduction. $1,333.00 total due at lease signing (includes security deposit, excludes tax and license). SUBJECT TO LIMITED AVAILABILITY.
    Offer valid through: 6/30/2003

    It looks like a good deal. I checked the MSRP for this car; it's $16,010. Do you know of any other lease deals where I can get a better car for less down and lower monthly payments?
    Thank you in advance for your insights!
  • fladriverfladriver Member Posts: 64
    Hi there Car_Man and friends....tomorrow is signing day for new A4 1.8T for a coworker. We got the lease paperwork faxed to us today and there is a $250 credit for "cash from manufacturer" ....huh? Is Audi giving an incentive now on this car, and if so how much?

    If so maybe we are giving up too much...if it makes any difference this is a 2-yr lease, in Florida, and it's a base car/no options.

    Thanks a lot.
  • im_brentwoodim_brentwood Member Posts: 4,883
    In New Jersey, Toyota Motor Credit, for a Highlander V6 AWD with sunroof, is 60% residual and .00240 Money factor for a 36 month term. The rate stays the same but the residual drops to 57% for a 39 month term effectively keeping the payment about the same.

    In other words.. 36 months looks like the term to go with.
  • im_brentwoodim_brentwood Member Posts: 4,883
    Hello,

    If you're in Jersey like me...

    36 Months/15K a year.. SouthTrust Bank beats Mercedes Bens Motor Credit by about $13/mo with their program. It's 57% residual with a .00215 Money Factor. Their cutoff is 720 on the beacon score last I checked.

    If you go 39 Months.. it's a $1 spread between SouthTrust and Mercedes Benz.

    SouthTrust is 55% with a .00215 rate and Mercedes is 57% with a .00250 rate.

    So the payment will be the same effectively.. but the Buyout will be a tad cheaper if you go through SouthTrust.

    Bill
  • jmcwhorterjmcwhorter Member Posts: 8
    Some nice person from the Murano board led me over here. I was gonna ask ya (Car Man) about the Murano lease rates, but I already found them.

    MF 0.00216 Resid 56%

    Thanks...

    How long is that good for. Does Nissan start offering rebates when the 2004 models arrive.
  • ljg4554ljg4554 Member Posts: 4
    Hi Car_man,

    I'm considering leasing a 2003 X5 3.0 for 3 years and 15,000 miles. Could you provide me with the money factor and residuals for this scenario. Also, could you provide the residual for 10,000 and 12,000 mile options for the same term as well.

    Thanks!
  • dave_h2dave_h2 Member Posts: 100
    Hi Car Man (and anyone else who cares to comment),

    I met with my first Honda dealer last night in Long Island, NY (where I live).

    He was a nice guy. Very pleasant. But a "car salesman" nevertheless ;-) more on that later - first, the numbers.

    After the first third-of-the-hour I spent there listening to fluffy nonsense and him showing me where the cup holders are (as if the placement of cupholders would make or break *any* deal) we find got around to throwing numbers back and forth.

    The Ody EX-L RES based on the MSRP with destination of 30,360; money factor .00210 and residual at 61% (12,000 mile allowance) had him quoting me a payment of $489.96 for 36 months. This payment included the tax, and bank fees. The only thing not included are the DMV fees.

    At first he said I would need $1,000.00 at signing, for the first month and security deposit. When I said that sounded a bit high he ran back and forth to his sales manager a bit and then brought him over to help secure what they thought might be a deal on the spot.

    Curiously they said that they would waive the security deposit. I would only then need the first month at signing.

    Car Man - does this sound like a good deal to you?

    We did speak a bit about how the leases were going to go over to baloon payments but it seems we may be in a grey area where deals done before the end of June may not be subject to the new standards. Do you have any additional info on that?

    Thanks in advance.
  • dave_h2dave_h2 Member Posts: 100
    I'm sure Car Man will reply to you, but in the mean time I would like to ask you a question regarding your potentional lease, as I too am looking to lease from AHFC.

    I think the lease offer you mentioned is the one they are running on televions and in the small print they refer to "baloon payment". Did you talk directly to a dealer regarding this?

    I curious as to how it is being presented at this time. I spoke to a dealer and even he seemed a bit confused as to exactly when they were going over completely to the balloon payment rather than the previously structured lease model. The impression I got was after the 4th of July sales closing would be the switching time. However, seeing those ads on televion indicates it may be starting on this particular vehicle.

     The fact that is says
    "Offer valid through: 6/30/2003" might possibly suggest a changeover at this point.

    Thanks for any info you can provide.
  • bama60bama60 Member Posts: 15
    Anybody heard of rebates from their BMW dealer? See link below regarding "hidden rebates".

    http://www.imakenews.com/autospies/e_article000158659.cfm
  • audia4wantedaudia4wanted Member Posts: 4
    Hi there!

    ...I was just down at Audi of Rochester Hills tonight and have tried negotiating for the following car:
    2003 A4 1.8T Quattro, Amulet red
    Auto, Premium package w/power seat, Cold weather package, 16" wheels
    MSRP: $31800
    Capitalized value: $30500
    Money factor: .00115 (i.e. about 2.8%)
    Residual value: 55%
    39 month lease and 20k miles per year (15 cents per mile over 15k).

    The dealer's price was $3000 due at signing (my choice....) and $440 per month for 39 months.

    When I asked him to deal on anything he said that he had already given me the best price and this dealership does not deal. It is not like a US OEM and doesn't want to be. They have to make a profit to stay in business and for that profit they will provide excellent service, free loaner cars, quality, phenomenal driving experience, etc.

    I asked for his very best price and he said that was it. As I'd like to take this car at this dealership, can anyone tell me if this is a fair deal??? Should I be able to get more off in Michigan?????

    I appreciate your feedback.

    Oops! Forgot to mention that sales tax is 6% and the payment includes tax.......so it is something like $415 + $25 tax = $440

    Also, the $3000 down is about $1800 paydown and then about $1200 for 1st months payment, sec dep, transfer plates, acquisition fee, etc...

    If the total payment and deal looks high, can you give me any information that I can take to the dealer to negotiate something less??? Thanks!
  • clone2clone2 Member Posts: 6
    Carman, I'm back. The Nissan dealer quoted me numbers from NMAC on the 2004 Maxima SE (for June) on a 39 month lease, 39,000 mile lease of .00204 and residual of 55%, with no security deposit. These numbers are different from your earlier information. Is there any reason they would be different or are they just jacking the numbers to increase their profit? (Excellent credit rating for myself.) Would NMAC give me the numbers directly, and how do you get your info? Thanks C-Man.
  • 12341234 Member Posts: 28
    I don't know about the balloon payment on the Civic. Haven't spoken to a dealer yet either. All the information I have on this lease deal is what I've read here: http://www.hondacars.com then click on "current offers".
  • dave_h2dave_h2 Member Posts: 100
    I will look into that. Let me know how your experiences with the dealerships progress.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello ct_yank. You're in luck, you are in the part of the country where Audi has additional lease support on 2003 A4 models. If you were to lease a 2003 Audi A4 3.0L Sedan with quattro through Audi Financial Services in your area this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00045 and 56%, respectively, plus Audi will waive the security deposit without any money factor increase.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for confirming what I have heard and for the info about South Trust, Bill.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, twoof1. It's strange that you were quoted the same money factor, but a different residual value. Usually it's the other way around. I just double checked and the 3 year 15k residual value for this vehicle is definitely 53% right now. As Bill helpfully suggested, 46% is indeed the 48 month 15k residual value for this vehicle. I think this is just a case of miscommunication between you and the dealer.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jon330cic. You certainly have a very appropriate user id. Let's take a look at this vehicle's current lease program. If you were to lease a 2004 BMW 330Ci Convertible through BMW FS this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00220 and 64%, respectively. BMW really has not introduced much in the way of lease support on '04 models yet. So as you can see, your dealer is being very straightforward with you.

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  • jmcwhorterjmcwhorter Member Posts: 8
    Is the Residual amount calculated using the MSRP or the settled upon selling price?
  • im_brentwoodim_brentwood Member Posts: 4,883
    The residual is always a percentage of the MSRP.. not the selling price as the MSRP is a benchmark number.
  • landru2landru2 Member Posts: 638
    Just to follow-up to Bill's post... MSRP is used because the selling price has no bearing on the vehicle's value in 36 (or whatever) months. The ONLY things that can change the residual are vehicle equipment, term, and expected mileage.
  • im_brentwoodim_brentwood Member Posts: 4,883
    But based on the lease returns we see.. the residual values have no bearing on what the cars are actually worth either 8)
  • kbmartin1kbmartin1 Member Posts: 4
    Carman,

    Got a lease quote on a new Honda Odyssey...2003. It has ALL the options with the exception of NAV system and CD-changer. EX-L with factory DVD and single CD...leather...all else. They're giving me a money factor of .0021. They want me to do a 48-month lease with $1,000 down. 12K miles/year. They say the residual after 48 mos is 55%...very respectable I think. I'm trying to keep my payments in the mid-300's...and they say this should come in around $365/month. The "asking" price they're basing the lease on is $29,700. What do you think???

    Thanks!

    Ken Martin
    kbmartin@us.ibm.com
  • kbmartin1kbmartin1 Member Posts: 4
    Carman,

    Got a lease quote on a new 2004 Grand Cherokee - Special Edition. It has ALL the options with the exception of leather. They're giving me a money factor of .00160. They want me to do a 39-month lease with $1,000 down. 12K miles/year. They say the residual after 39 mos is 43%...not too bad I think. I'm trying to keep my payments in the mid-300's...and they say this should come in around $360/month. The "asking" price they're basing the lease on is $26,200. What do you think???

    Thanks in advance for your comments!

    Ken Martin
    kbmartin@us.ibm.com
  • dave_h2dave_h2 Member Posts: 100
    Where do you live? Where are you leasing? New York area?

    I'm in Long Island.

    I was quoted similar numbers. But I can see they are jipping you on the residual. The money factor is correct. They also wouldn't move off the MSRP as well. But like they say - I am looking at total cost of vehicle usage - and not just only one of the three primary lease components (price, mf and residual).

    Also - what are they telling you the $1,000.00 down is for? First month and security?

    That is the exact vehicle I am looking for as well.

    My email is visible in the forum if you want to correspond about it and compare notes. I am seeing two other dealers this weekend.

    I'll have a firmer view of the picture after that.
  • dave_h2dave_h2 Member Posts: 100
    Just a simple question.

    The Mazda dealer I spoke with today said the money factor is different from 36 to 48 months. I had never heard this before. Can anyone confirm this?

    Thanks
  • landru2landru2 Member Posts: 638
    Different lease terms all have different rates (money factors) - the longer the tern the higher the rate. Nothing too surprising there - you wouldn't expect the same rate on a 1 year loan as on a 10 year loan.
  • jbowman3jbowman3 Member Posts: 15
    CarMan,

    Kudos to you, and for all the time you spend helping us out here in jungleland.

    -You mention Saab is providing $4000 lease support on the Arc Sedan. what about the Arc wagon? Aero Sedan and Aero Wagon? What, if any lease supports are available on the BMW 525 and 530 series?
    -Could you please post the June MF and residual for Arc Wagon (36 mo. 15K) I live In NY.
    -Saab Dealers are offering "balloon support" for leasing. Is this the same as lease support? I've read about hidden dealer rebates of $4000. Is this available for purchase only, or can this be applied to leases? With the balloon program salesman said I can't pay taxes up front . Is there any truth to that?
    -One interesting aside, I was at BMW on 6/12 when a salesman said " I hope you're buying a 5 series because the money factor and residual just changed for the worse on 6/10". Was this 'smoke', or has BMW discouraged leasing this vehicle for the month of June?

    So CarMan tell me, why are manufacturers discouraging leasing?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mzinzi. Audis Audis everywhere :). OK, if you were to lease a 2003 Audi A4 3.0L Sedan with quattro through Audi Financial Services this month in the state of CT for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00045 and 54%, respectively. The 39 month 15,000 miles per money factor for this car would be exactly the same, but the residual value would fall to 52%. If you were to lease with only 12,000 miles per year instead of 15,000, increase the aforementioned resids by 2%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi again g17. Why yes, I have indeed had an opportunity to take a look at June lease program for Mercedes-Benz. Mercedes has done away with supported lease money factors on the majority of vehicles and has replaced it with close-out dealer cash on the models that need it. So, if you were to lease a 2003 Mercedes-Benz C230K Sedan through Mercedes-Benz Credit Corp. this month for 36 months with 15,000 miles per, its base lease money factor and residual value should be .00275 and 54%. I posted the 36 month numbers because I have not seen any 39 month numbers from MBCC. Since there is not any sort of lease support on this model right now, you may find that your dealer is running your lease through a bank other than MBCC in an effort to get a slightly better money factor or residual value. Unfortunately, the dealer cash that MB is currently providing dealers with is only on C240, C320, & C-Class Coupe models so it doesn't really help you. You can use the above numbers in conjunction with the lease formula that is outlined in the following article to calculate an approximate lease payment for this car: Calculate Your Own Lease Payment.

    In your last post you mentioned this vehicle's full MSRP, but never talked about its selling price. Remember that the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. It is important to know the actual selling price of the car that you are interested in leasing in order to be able to determine if you are getting a good deal. Plus, you need the selling price in order to calculate a sample lease payment on it.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Gregg. I have finally seen Toyota's June leas program, but don't need to repeat it given the fact that Bill was kind enough to post it for you in message number 6871. Please let me know if you have any other questions.

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