Lease Questions - Ask Here

CarMan@Edmunds

You're welcome, b4z. I am glad that you found my posts helpful. $5,000 is a pretty significant discount on a 2004 Cadillac SRX. I personally doubt that you will be able to give you much more of a discount than that. You may want to stop by the Cadillac SRX: Prices Paid & Buying Experience discussion that appears on the Smart Shoppers Message Board to see what others are saying about this car's pricing right now through.

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CarMan@Edmunds

You're welcome, ricochet600. The advertisement that you recorded was for a balloon note and not a lease. Many banks have started to promote balloon notes in states like New York, where the vicarious liability laws are an issue. Balloon note programs have different interest rates associated with them than banks' lease programs do. Unfortunately I do not personally keep tabs on balloon note programs because even with their recent increase in popularity, they really still are not that common. I can tell you though that the "$5,250 cash allowance" that was mentioned in the commercial is correct. It includes the $3,500 customer cash that DaimlerChrysler is providing on this vehicle PLUS the $1,750 total owner loyalty / conquest cash ($1,000 national and another $750 that is regional, but apparently available in all of DCX's regions) that is available on it. This cash is good on cash purchases, leases, or balloon notes. Many manufacturers use conquest cash to target specific groups of people who own vehicles that they are in competition with. For instance, Lincoln is currently offering $1,000 conquest cash to current Cadillac owners. DaimlerChrysler's current conquest promotion on this model is open to anyone who owns a non-Chrysler, Dodge, or Jeep vehicle.

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CarMan@Edmunds

Hi 307web. I would be more than happy to calculate a sample lease payment on the car that you are interested in for you. However, in order for me to do so, I need you to tell me exactly what model you are interested in, ie. the 2004 CLK320 Coupe, 2004 CLK500 Coupe, etc. Once you provide me with this additional informaiton I will be able to help you out.

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307web

It is the 2004 CLK320 Coupe

rerecoops

Could you please post the Feb MF and Residual % for a 2004 Jaguar X-Type 3.0...
Also I noticed that Jaguar is offering $3250 dealer incentive but not if you lease with Jag finance. How easy is it to get a third party lease? Can you recommend someone? Thank you so much for this forum. Two weeks ago I didn't know the difference between a Money Factor and a candy factory. I'm still no expert but at least I have some idea of what to look for. One more thing the Jag gets terrible reviews but it's such a pretty car do you have an opinion? I don't want to lease a lemon.

bmolloy

Hi, I'm British and moving to Los Angeles later this summer. I'm in the Real Estate business, rehabs, fixers etc over here in England and will be doing the same in the US. I have perfect credit in the UK, I bank with the UK's largest bank and have credit cards etc with no debt.

My question is this: I am looking at a run-around car for me/my business, it doesnt have to be a specifically nice car as my fiancee has a nice car that we can use. I have looked at some models and don't know if I should lease, buy using the low interest rate's available from some dealers, orbuy outright with cash.

I think I'll have to setup a Limited Company (LLC) to conduct my house business through, so are there any tax benefits available to me by leasing, buying, financing etc if I buy the vehicle through the company etc etc

Any help would be appreciated as I don't know at this time which is the best option for me.
Thanks
Bill

harleycaptain

msrp 39613.00 initial cap cost 36212.00 residual 47% money factor .00210 monthly payment 460.15 plus tax(calif). I understand all that, but my drive off is 2450.00 They show 600 acq fee, 291.00 license, 1538.92 cap reduction, and 119.27 tax on cap reduction. Adjusted cap cost 35.273.08 48 month 12k miles

Questions, I am in 800+ credit score "club", is this money factor correct? I am offered the car at 36212 to buy or lease(1000 over invoice). I feel like somehow the lease is skewed. I guess the acquisition fee and first month's payment and license is all I should pay for drive off. I didn't ask for the cap reduction and it throws the numbers off so I am wondering if this "set up" somehow increases the dealer profit above our agreed upon amount. Could you clarify a little for me? I was told they are using Lexus Leasing. I prefer to lease as I don't like paying sales tax on entire car purchase if I am going to trade every three to four years anyway.

sross

Carman will have a more sophisticated answer for you, but here's what I've heard. Although you can take a tax deduction for business use of a car whether you buy or lease, the accounting advantages of leasing are tremendous. I think this has to do with the simplicity of taking the depreciation into account wen you lease.
The only other consideration for you as an expat, though, is that whether you may be in the position of having to terminate the lease early, for instance if you have to return to the UK. The penalties for early lease termination can be large.

mileshoover

I also was in real estate; for 20+ years. I leased only one auto, a Mercedes 560SEL. Generally, here's what I found out - from 1988-1991 - (there has been some tightening up on leasing for business use since, so discussing this matter with a tax consultant also would be the best route to go).

First, one must use the auto for over 50% in business.

Second, excellent records must be kept since IRS loves to audit tax deductions for autos using in business.

Third, you must negotiate more than the usual 12K per year mileage allowance. Determine what kind of mileage you will need. (I used to put over 30K per year on a car, but I transported customers, you may not since apparently your method of business may be different). If not, you will quickly find that the excess mileage cost at the end of the lease will overwhelm you and lose all gained advantages.

Fourth, you must keep the auto properly maintained for the same reason given above. If, at turn in time, there is a problem, you most likely end up paying for it, one way or another,

Fifth, I detect that you might not want a new car. If so, you will probably find it very difficult to lease in the first place.

Business leasing has the deductible advantage, as indicated, but you have to be very careful to ensure it is the way to go. There are may stumbling blocks in that path. It COULD be better than buying, what with the depreciation loss, but...

I will never lease again, even with that loss.

Financing is a personal matter; it does permit you to utilize your capital elsewhere rather than tied up in a depreciating asset.

crashtestdingo

A couple of things I noticed as I punched in your numbers on my calculator:

• Your drive-off figure of $2,450 doesn't include your first month's payment.

• If you subtract the capitalized cost reduction of $1,538.92 from the initial capitalized cost of $36,212, you get $34,673.08, but you give the adjusted capitalized cost as $35,273.08, which is $600 more.

gordo95

Carman - I am about to come off a 39 month lease and am looking to lease once again. The Lexus ES 330 is at the top of my list. Can you tell me the current residual/money factors from Lexus? MSRP on the desired model is $37934; dealer quotes in my area have ranged anywhere from 88% to 93% of MSRP. My target monthly payment is $500, and I'd like to put nothing down, other than first month/acquisition/sec dep. Lease term preferably 39 month, 12K miles. Am I correct in first trying to negotiate a low as possible sales price, and then posit the leasing scenario? Many thanks.

ipoddin

Car_Man will be able to help you with figures...but you should definitely negotiate the sales price first and then discuss leasing. Do not negotiate on monthly payments!

gosteelers36

Hello, I was wondering what my monthly payments should be for a 2004 Toyota Sienna 36 month lease based on the following data. $4000 down, $1800 for my trade-in. MSRP is $27,953 negotiated down to $26,750. Was told the residual value would be $17,343.26 (seems kind of high to me). The money factor is 0.00190. The state sales tax is 6% with no other fees involved. Thanks!!!

ashleyandersin

BMW X-3 Current Lease Special 'til end of March?

Does anyone have any details regard a special leasing for the X-3? I am told that BMW is running a special until the end of March. Is it same for 2.5 and 3.0 Versions. If anyone knows the details, I would totally appreciate any information on them. I am having a hard time getting honest answers here in Southern California and also in trying to decide which model will be best.

neptunedude

Car_Man, I need your advice. I am about to close this deal on a lease for a 2004 silver Acura TL with Navi. The lease is for 36months $499 a month, 15k/yr with $3,000 down which includes everything including the 1st months payment. I didn’t get the specific about the residual, money factor, and the break down of the $3,000 down payment. This is my first lease and I am a bit nervous. Does this sound like a good deal considering I am locating in New Jersey? When I sign the lease papers this week, what should I be looking for? Any suggestions would be appreciated.

CarMan@Edmunds

Thanks for the additional information, 307web. According to the latest info that I have seen, if you were to lease a 2004 Mercedes-Benz CLK320 Coupe through Mercedes-Benz Credit Corp. this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00250 and 65%, respectively.

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CarMan@Edmunds

I would be more than happy to help you out, rerecoops. However, in order for me to give you an idea of what this car's lease program is currently like, I need you to tell me how long you are interested in leasing it for and how many miles per year you want to be able to drive it. Jaguar does indeed have $3,250 dealer cash on the '04 X-Type 3.0L. This cash may not be used in combination with Jaguar Credit's special financing or lease programs. If you were to lease this car through a different bank you could use this dealer cash to reduce this car's capitalized cost, if your dealer was willing to share it with you. It is difficult to say if there is an independent bank out there that has an attractive enough lease program to provide lower lease payments when combined with this cash than the payments that can be had by using Jaguar Credit's low lease money factors. If I had to make an educated guess, I would say that you are probably better off leasing through Jaguar. It is difficult for consumers to find out which independent banks have the best lease programs available on vehicles on their own and even if one was to find out this information, many banks only lease vehicles through dealerships and do not deal directly with the general public. Most dealerships have computer systems that allow them to search the country to see which bank has the best lease program available on a particular vehicle at any given time. If you were able to lease this car for less through a bank other than Jaguar Credit, that is probably the direction that your dealer would steer you.

I personally feel as though the X-Type is a pretty nice car and a good value for the money when one leases it. I definitely would not want to own one out of warranty through. I have a very good friend who is leasing an X-Type right now. A couple of months ago the transmission in it completely went. When they took it to the Jaguar dealership to fix it, they were not surprised in the least and said that it is a much more common occurence than it should be. Eventually the entire transmission was replaced under warranty. Funny enough, when they gave her another brand new X-Type as a loaner car, it ended up having major electrical problems and had to be exchanged. So Jags are nice and make good cars to lease because they have attractive lease programs. Just make sure not to lease one for longer than its warranty.

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CarMan@Edmunds

Welcome to the U.S., Bill, well soon enough anyways. Funny enough, my brother just spent a month over in England in business. Unfortunately, many people who move to the United States from abroad find that they have trouble finding banks to provide them with attractive interest rates because they have not established any sort of credit history in this country. I wonder if there are any banks that have branches both in England and in California. Perhaps you would have an easier time getting approved for an auto loan if you can find a bank that deals with both of these countries. If you do end up having difficulty finding a bank to provide you with an attractive interest rate, you may want to purchase a relatively inexpensive vehicle, make a large cash down payment on it, and then finance the rest with a bank here in the U.S. By making a large down payment you will increase your chances of being approved and also will limit the amount of interest that you have to pay if you don't get the best interest rate. Taking out a small loan will help you to establish a credit history in this country and make it easier for you to get a loan the next time that you need one.

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CarMan@Edmunds

Hi harleycaptain. The reason why the dealership that you are working with calculated your deal using a down payment is probably to make this vehicle's monthly payment look more attractive. I haven't seen Lexus' lease money factor for the RX330 in California lately, but the factor that they are charging you may be slightly high. If I was in your situation, I would comparison shop at a few other Lexus dealers, there should be tons of them in CA, to see what sort of deals other dealers offer on this vehicle. If they are all in the same ballpark then you don't have anything to worry about. It is always a good idea to shop at at least two or three dealers to make sure that you are getting the best possible deal for your area.

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jumper4

Dear Carman,

Could you please post the lease rates for the Audi Avant 1.8 and 3.0? I noticed the end of a T.V. commercial for their leasing. Are the current rates better than normal for Audi? Thank you all your help.

CarMan@Edmunds

Hi gordo95. You definitely should negotiate as low a price as possible on this car before talking with any dealers about monthly payments. Dealers love to find out what sort of lease or finance payment consumers want and then play with the numbers to arrive at their target payment, making sure to add as much profit as possible to their deal. Once you have arrived at an attractive selling price, then talk about this car's lease program. Lexus' lease program often varies a little depending upon what part of the country one is in. You never mentioned where you are in your post, so I will just provide you with info on what I believe is Lexus' most widely available program right now. If you were to lease a 2004 Lexus ES 330 through Lexus Financial Services this month for 39 months with 12,000 miles per year, its base lease money factor and residual value should be .00160 and 56%, respectively.

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CarMan@Edmunds

Hello jumper4. You're in luck, Audi just enhanced its lease program on most A4 models a few days ago. I would be more than happy to give you an idea of what these wagons' current lease programs are like. However, in order for me to do so, I need you to tell me how long you plan on leasing them for and how many miles per year you need to be able to drive them.

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CarMan@Edmunds

Hi gosteelers36. The higher this van's residual value is, the better it is for you. This is because half of your lease payment is based upon the depreciation that this vehicle will experience over the length of your lease. The more it is worth at the end of your lease, the less depreciation you have to pay, and the lower your lease payment will be. I would be more than happy to calculate a sample lease payment on this van for you. It would be easier for me to do so if you would let me know how many miles per year this lease includes. I have to say though that $4,000 is way too much money to put down when leasing. I say this for two main reasons. The first is that if your vehicle is stolen and never recovered or totaled in an accident during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on lease vehicles do nothing to reduce their lease-end purchase prices. So if regardless of whether you were to put $4,000 down on this van or absolutely nothing down, its lease-end purchase price would still be $17,343.

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CarMan@Edmunds

Hi Ashleyandersin. When BMW initially introduced its February lease program, it was not providing any sort of lease support on the X3. I believe that consumers who wanted to lease one through BMW Financial Services had to use its standard lease money factor of around .00245. It appears as though BMW has since enhanced its lease program on the X3. I can honestly say that I am not very surprised. The dealers who I have spoken with lately have told me that it is not selling very well. Many of them believe that there is not enough of a price difference between the X3 and the X5. I have not seen this new, enhanced lease program yet. I will take a look around and see if I can find anything out for you. Please post a quick reminder for me in this discussion in a few days and I will be more than happy to fill you in on what I have been able to find out. Talk to you soon.

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gosteelers36

Hi Car_Man,
The mileage allowance would be 12k per year on the '04 Sienna lease. My thinking with the large down payment was drastically lower monthly payments. Please advise.

Thanks!!!

CarMan@Edmunds

Hello neptunedude. Let me begin by saying that I always advise consumers to lease without making any sort of down payment. You should be able to lease the TL that you are interested in, only having to pay its first month's payment, security deposit, and lease acquisition fee at lease signing. And if you really want to you can always roll the acquisition fee into your vehicle's capitalized cost and not have to pay it at signing. I say this for two main reasons. The first is that if your vehicle is stolen and never recovered or totaled in an accident during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on lease vehicles do nothing to reduce their lease-end purchase prices. So if regardless of whether you were to put $5,000 down or make absolutely no down payment, its lease-end purchase price would be exactly the same.

I would be more than happy to calculate a sample lease payment on this car for you to give you an idea of what your lease payment should be like on it at this time. However, in order for me to do so, I need you to tell me what its full MSRP and selling prices are. It is important for you as a consumer to know what this car's selling price is anyhow because without it it is difficult for one to tell just how attractive a deal they are getting. Once you provide me with these figures, I will tell you exactly what this car's lease payment should be.

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gosteelers36

Hi Car_Man,
In essence, the two drawbacks (as I see it) to putting a large, or any down payment on a leased vehicle, is 1)if the vehicle gets stolen or totaled (heaven forbid), your down payment is essentially lost and 2)the leasing company is holding your down payment instead of you, thus, reaping the interest rewards, if any. Please let me know if there are any other drawbacks to putting down a significant down payment. Also, does Gap Insurance fully cover your liability if the vehicle is stolen or totaled? Thanks again!!!

rerecoops

It would be a 3year/15k lease. Again, it was the Jaguar X-Type 3.0. Could you also post the MF & Residual for the Volvo S60 2.5T for Feb. Thank you so much Car_man. I am going to make a deal this week. Also looking at the lexus is300 e-shift sedan.

jumper4

Carman, thank you for your response. Sorry--I know you need more than the info I gave you. I am looking for a 3 year/10 K miles lease for either the 1.8 or 3.0 Audi Avant. Thank you very much for your help.

gordo95

Thanks Car_Man. I am in the DC Metro area, so let me know if that impacts your numbers at all. Can you provide a sample lease payment, assuming a $35,500K sales price, and nothing down other than first month/security/acquisition fee. I plan to roll tax and license into the lease, so the sales price estimate is inclusive of these amounts. Is that something you would recommend? Also, does going from 39 to 49month, or 12K to 15K miles, have a significant impact on payments? Thanks!

307web

Car_man,

In my original post I was was looking for specific monthly payment to expect. I had posted the selling price and MSRPs and you said you could provide a sample payment once I clarified the specific model of CLK coupe. I thought the model would be apparent from the MSRP I had posted, but I replied with the specific model in the next post (which was a CLK320).
I had originally asked only for 12K miles per year, but can you list sample payments for both 12K and 15K miles per year based on the prices listed in the original post 9470?

Thank you.

steeler_fan

Hi Car_Man,

If you would be so kind as to offer your opinion on these lease terms on a non-Nav 2004 TL, it would be greatly appreciated:

36 mo/15,000 miles
$700 total down
$485/month, tax incl. (tax rate 7.5%)
Price of vehicle: $30,600, residual value: $19,253.10. I am pre-qualified for financing via my credit union (0.0016 leasing factor = 3.9% or so)

I'm from Ohio, and I contacted all of the Acura dealerships in my area and I've gotten one to accept those terms so far. I'm waiting to hear from the Acura location about 10 minutes from my house, however (the one I heard from is about 40 miles away). What do you think of the terms? Thanks in advance!

dal71

Hi Car Man,

On Feb 9, you responded to my question about Vovlo XC-90 lease rates by saying that Volvo is giving no lease support and the deal I was given was certainly better than straight Vovlo financing. In light of this, do you have any suggestions on how I can determine how good the offer is, and perhaps get a target to try to negotiate to?

Thanks!

ricochet600

Could you also provide the MF and residual for 15K miles/yr for 36, 39, and 42 month lease terms for a 2004 Nissan Altima 2.5SL and the 3.5SE? Are you aware of any lease deals in the NYC area, or any incentives other than the $1500 customer cash?

Thanks

ricochet600

Thanks for putting up with all my questions, Car_Man:) I've since also decided to consider the Jeep Grand Cherokee Special Edition 4WD and possibly a longer lease term. For the SE 4WD, as well as the Laredo 4WD, what would the residual percentages be with 15K miles/yr for a 39 month and 42 month regular lease (as opposed to the balloon lease I was asking about)? Are there any other factors I should consider when deciding on a non-traditional lease term? Also, would the MF of .00137 change for the SE 4WD?

Thanks again.

CarMan@Edmunds

Thanks for the additional information, gosteelers36. While the down payment makes your monthly payments lower, you can achieve a similar savings without the risk by keeping the money that you would have put down in a bank account and using it to supplement your monthly payments or to pay one occasionally. I haven't seen Toyota's lease program recently, but the last time that I did, Toyota Financial Services' 36 month, 12,000 miles per year base lease money factor and residual value for the 2004 Toyota Sienna .00220 and 62%, respectively. In your post, you mentioned a money factor of .00190, so I will use the one that you provided me with to calculate a sample lease payment for you. According to my calculations, it you were to lease a 2004 Toyota Sienna with a full MSRP of $27,953 and a selling price of $26,750 through TFS for 3 years with 12k per, its zero down, pre-tax monthly lease payment should be around $346.

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CarMan@Edmunds

You're very welcome, rerecoops. According to the latest informaiton that I have seen, if you were to lease a 2004 Jaguar X-Type 3.0 through Jaguar Credit this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00174 and 47%, respectively. If you were to lease a 2004 Volvo S60 2.5T through Volvo Finance this month for 3 years with 15,000 miles per, its base lease money factor and residual should be an amazingly low .00004 and 51%, respectively.

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CarMan@Edmunds

No biggie, jumper4. Let's take a look at this model's current lease program. If you were to lease a 2004 Audi A4 1.8T Avant through Audi Financial Services this month for 3 years with 10,000 miles per, its base lease money factor and residual value should be .00100 and 58%, respectively. The numbers for an otherwise identical lease of a 2004 Audi A4 3.0L Avant should be .00110 and 56%.

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CarMan@Edmunds

You're welcome, gordo95. The lease program that I provided you with informaiton on should be available in your area. I would be more than happy to calculate a sample lease payment on this vehicle for you. According to my calculations, if you were to lease a 2004 Lexus ES 330 with a full MSRP of $37934 and a selling price of $35,500 through Lexus Financial Services this month for 39 months with 12,000 miles per, its zero down, pre-tax monthly lease payment should be right around $457. If you were to increase this car's mileage allowance to 15,000 miles per year, the payment would increase to around $475. A 48 month, 12k lease of this car would have an approximate payment of $437 and a 48 month, 15k lease would have an approximate payment of $452.

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CarMan@Edmunds

I am sorry for all of the confusion, 307web, but I read tons of posts every day and it is very difficult for me to remember who posted what information where and to bounce around between several posts to come up with all of the information that is necessary to calculate a sample lease payment or to remember that is even what a community member wanted. Here is the sample payment that you want. If you were to lease a 2004 Mercedes-Benz 2004 CLK320 Coupe with a full MSRP of $48,210 and a selling price of $44,836 through MBCC this month for 3 years with 12,000 miles per, its zero down, pre-tax monthly lease payment should be right around $566. If you were to increase your mileage allowance to 15,000 miles per year, the lease payment would increase to around $590.

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CarMan@Edmunds

Let's take a look at the deal that you were offered, steeler_fan. It's difficult for me to calculate an exact lease payment on any vehicle without knowing its full MSRP, but I can evaluate certain parts of this deal. The lease money factor that you were quoted is great for this model. It is so low that it may not even be through American Honda Finance Corp. The problem is though that the lease payment that you were quoted looks a little high to me. Assuming a full MSRP of $32,650 and the selling price that you mentioned, $30,600, using AHFC's base lease program, I come up with a zero down, pre-tax monthly payment of right around $431 for this car. I think that you may still be able to lease this car for a little less than the deal that you have on the table right now.

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CarMan@Edmunds

Hey dal71. Normally, I would advise consumers to comparison shop at a few dealerships to see what sort of selling prices and lease payments they are quoted for the vehicle that they are interested in. This may be a little difficult in your situation since you ordered the exact model that you are interested in getting. If you made a non-refundable deposit on this order or if you ordered a color / combination of options that is unusual comparison shopping may not be that easy to do, but at least it would give you a reference point that you could use in your negotiations. I can calculate a sample lease payment for you using Volvo Finance's unsupported lease program on the exact model that you ordered if you would like. Doing so will at least tell you the most that you should spend to lease this vehicle. If you want me to come up with a payment for you, I need you to tell me this vehicle's full MSRP and selling price.

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CarMan@Edmunds

Hi ricochet600. The $1500 customer cash that you mentioned in your post can not be used on conjunction with Nissan Motor Acceptance Corp.'s special lease program. The only cash incentive that is available on this car that probably can be combined with NMAC's lease program is the $350 dealer volume bonus allowance. If you were to lease a 2004 Nissan Altima 2.5 SL through NMAC this month for 36 months with 15,000 miles per year, its base lease money factor and residual value should be .00110 and 56%, respectively. The money factors for otherwise identical 39 and 42 month leases of this car should be exactly the same but the residual values would fall to 55% and 52%. If you were to lease a 2004 Nissan Altima 3.5 SE through NMAC this month for 36 months with 15,000 miles per year, its base lease money factors would be exactly the same as the previous model's, but the 36 month, 39 month, and 42 month 15,000 miles per year residual values should be 56%, 55%, and 52%.

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CarMan@Edmunds

No problem, ricochet600. I'm always glad to help. Let's take a look at the Jeep Grand Cherokee's current lease program. If you were to lease a 2004 Jeep Grand Cherokee Laredo 4WD through Chrysler Financial for 39 months with 15,000 miles per, its base lease money factor and residual value should be .00135 and 42%, respectively. The numbers for an otherwise identical 42 month lease should be .00178 and 40%. In addition to this supported lease program, DaimlerChrysler is providing $3,500 lease cash AND an additional $1,750 loyalty / conquest cash on all 2004 Jeep Grand Cherokee models that may be used to negotiate a lower capitalized cost.

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njgladiator

Thanks in advance CarMan. looking to lease an 04 MDX w/touring package ( MSRP $39,000) for 48 months, 15,000 miles and $2500 down. I was given a quote of $512.38 (Gap insurance and $1500 wear and tear allowance included)

does that sound like a good deal ?
do I really need wear and tear insurance ?

thanks again CarMan.

cjs2002

Wondering what a 36 or 39 month lease on an Armada would be... 12K 13K miles a year I'm only conserned with the base model its MSRP is like33950 or something like that I'm sure we can get it for about 32 any ideas what the monthly payments would be? don't need anyother options

hartt

Hi Car_man. Could you please provide the MF and residual on the following vehicles? I have gone through the previous posts but would like to make sure I have the right information. I am helping my parents with the research. All vehicles are 36 month/15K a year.
04 Infinit G35 with AWD and without
04 BMW 325i
04 Acura TL
04 Audi 1.8T
04 Lexus ES330
04 Maxima SE
Thanks for your help.

Tim

neptunedude

Car_Man

I called my dealer today and I got some more information on the deal for the Acura TL auto with Navi. The money factor is .00225, residual $19,098, and selling price would be $34,000. MSRP is $34,650. The down payment itself would be around $1665 out of that $3,000 drive away fee. The lease is for $499/36months 15k/yr. Is this where my payment should be for this car? Once again thank you so much for your help.

steeler_fan

Hi Car_Man,

Thanks for your earlier reply.

After looking at your response, I went and had my credit union run some numbers, and this is what they offered for a non-nav:

MSRP: 33195
Selling price: 31200
Tax: 7.5%
Residual: 17593 (53%)
MF: 0.0016
No sec. deposit, no acq. fee, nothing down (it is not rolled into the price)
$518/mo, 15K/yr.

I realize that the monthly is higher than you think it should be, but I was told that the residual was based on ALG data instead of AHFC data. I like the fact that the only thing I pay for at closing is first month. I think the lower residual covers them in the long run, as the car is not overvalued as much at the end of the lease, so they can get most of their money back if it goes to auction, and it is more attractive to the lessee at the end of the lease, and I like that flexibility.

Any input is always appreciated. Thanks!

CarMan@Edmunds

You're welcome, njgladiator. In order for you to be able to tell if this is a good deal, you need to know what this vehicle's selling price is. Without this figure, it is difficult for you to know exactly how much money you are paying for the vehicle that you are leasing. In the past, Acura MDXs were almost always selling for full MSRP or close to it, but now that this model has been around for a little while and that there is an ample supply of it, I have a feeling that you should be able to negotiate around $1,000 off on one in your area. As an added bonus, if you find out what this vehicle's selling price is, I can use it to calculate a sample lease payment for you.

Car_man
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