Lease Questions - Ask Here

wibble

If you need the extra mileage then definitely buy it up front. Infiniti charge 15 cents a mile at the end of the lease an it's nice not to have to worry about the miles you're driving throughout the lease.

lponz7

Car_Man: Dealer insists that the "Golden Opportunity Sales Event" MF rate (tier one) for the RX 330 is .00235, and that the .00175 figure does not apply to this model. I assume I'm having smoke blown...well let's say in my ear, but would deeply appreciate if you could confirm before I go to the mats on this one. Thanks again, you've been an enormous help. lponz7

pktrckt

In working with a local Mazda dealer they have given me the $3500 24 month lease allowance, the $1000 your invited mailer incentive but they do not see the $750 dealer incentive listed here on Edmunds. Is there any information I could provide to them that could assist in their "discovery" of it?

The current deal so far with just over the phone discussion.
MSRP $31200
Sale Price $29345
Incentives -$4500
Cap Cost $24845
Money Factor .00370 for 720+ credit
Residual for 15k miles 63% $19656

Clearly I believe they can come further down in their sale price but I haven't stepped in the dealership yet.

Anyone in the SD/LA area see better pricing, if so which dealers? Thanks everyone.

tracytemp

Thanks Car man-
What should I look out for specifically when leasing the XUV?
I won't be able to make a deal until after Sept 8. I heard something about a $4500 rebate , will that still be available? I have never leased anything before but we are eligible for the GMS price on the XUV. Which is an employee rate (which we get because my mother in law is retired GMC).Any input is greatly appreciated.
Is there anyway I can find out when you or anyone else replies?
Thanks.
Tracy

markussp

I leased a 2002 Honda Accord with an extended warranty option for 160,000km. I am currently in my twenty eighth month of the lease and have 65,000km left on the warranty. The sales representative that leased me the vehicle has asked me if I would be interested in trading in for a current model. What advantages are there for me in doing this outside of having a brand new vehicle?

shotgun5

Hello, this is my second post and I am trying to get a handle on some lease figures. I have not leased for over 15 years--here we go:
Location SoCal, Veh: 04 330I MSRP 42845 selling price:38855 plus fees govt fees 323. taxes 1435 residual 23136 also says residual .54--please explain term 36 mth at 15K per year initial payment 877. no other money up front, payment of 554 including taxes ?? wish I understood more but is this good or should I shop some more--this is a Costco deal and is supposed to be a little over invoice minus current rebate of 1200

CarMan@Edmunds

Hi houstonbeemer. The main problem with leasing used vehicles is that automakers often provide support on new vehicle leases to help them sell vehicles and keep their factories running, but they do not provide nearly as much, if any support on used vehicle leases. As a result, it is often almost as expensive or even more so to lease a used vehicle than it is to lease an equivalent new vehicle. Having said this, BMW is one of the few manufacturers that provides a decent level of support on leases of its Certified Pre-Owned vehicles. I do not personally follow the details of manufacturers' CPO lease programs so I can not tell you what to expect on this truck, but I certainly would not hold my breath for a better deal than what BMW is providing on new X5s right now.

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CarMan@Edmunds

Hi zimp4us. I have not personally seen the pricing for this car yet. You may be able to find out more information on its exact pricing by visiting the Edmunds.com Coupes & Convertibles Message Board. I haven't seen any sort of lease program for the 2005 3-Series convertible yet either. It is pretty safe to assume though that BMW is not currently providing any sort of support on it. As a result, if you were to lease one through BMW Financial Services, you would have to use its standard lease program. I believe that its current base standard money factor for 3 year leases is .00255. Of course, there is a very good chance that BMW's standard lease program will be different when you take delivery of your new car in October.

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CarMan@Edmunds

You're very welcome, mazdax605. I do not believe that the customer cash that Mazda is currently providing on the 2004 Mazda6 can be used in conjunction with its special lease program. The dealer cash that it has on this car right now probably can be though.

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CarMan@Edmunds

Hey Sandy. As you may or may not be aware, Toyota does not send its vehicles directly to dealers in the southeastern U.S. Instead it ships its vehicles to a distributor who in turn allocates its vehicles to dealers. The problem with this is that the SE Toyota distributor adds all sorts of options and charges to vehicles that usually make them more expensive to purchase in your area than they would be in other parts of the country. Also, I believe that SE Toyota has its own finance company and does not lease vehicles through Toyota's normal captive finance company, Toyota Financial Services. I am not familiar with what the SE region distributor's lease program is like on the Camry at this time.

I would be more than happy to try to give you an idea of what the lease program is currently like on the Volkswagen Passat. However, in order for me to do so, I need you to tell me the exact model that you are considering, how long you want to lease it for, and how many miles per year you need to be able to drive it.

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CarMan@Edmunds

Thanks for the additional information, sandy. Chrysler Financial's current base lease money factor and residual value for a 3 year, 12,000 miles per lease of a 2004 Chrysler Pacifica AWD should be .00150 and 48%, respectively. When negotiating your lease on this vehicle, don't forget the $4,000 lease cash and $1,000 Chrysler Financial Bonus Cash, $5,000 total, that will help you to negotiate an attractive capitalized cost. The type of financing arrangement that you described in your post sounds like a balloon note program. Chrysler Financial does offer balloon notes, which are very similar to leases, on all of its products.

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CarMan@Edmunds

Hi staceman. The lease programs on the two vehicles that you mentioned, the 2005 Chrysler 300 Limited and the 2005 Chevrolet Corvette, are actually fairly similar. I believe that the 300 model that you are considering has a money factor that is equivalent to interest rate of slightly over 5% on it while the '05 Vette has a lease rate of 4.75%. The Vette's residuals are a couple of points higher, but this is at lease partially offset by the $1,000 Chrysler Financial bonus cash that is available on the Chrysler 300 right now. Basically what I am saying is that neither of these cars' lease programs is significantly better than the other's so you should just pick the one that you like better.

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CarMan@Edmunds

Thanks for the additional info, Copper. OK, so you are interested in leasing a 2004 Audi A6 2.7T s-line in New Jersey right now for 3 years with 15,000 miles per. This is a great car for the money right now by the way . I believe that this car should have a base lease money factor and residual value of .00010 and 47%, respectively. The money factor for an otherwise identical lease with only 12,000 miles per year would be the same, but the residual value would increase to 49%. When negotiating your lease on this car, keep in mind that Audi is providing $1,500 dealer cash on Audi Financial Services leases of it in your area this month. This cash will help you to negotiate a more attractive capitalized cost that you would have been able to without it.

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CarMan@Edmunds

Hello audiman2. I am not sure exactly how much money your leased car is worth on the open market right now, but you should be able to get an idea of its current value by visiting the Edmunds.com Used Vehicle Pricing section of this site and by stopping by the "Real-World Trade-In Values" discussion that appears on this message board. One of our most knowledgeable community members, Terry, is often kind enough to give others his opinion of their vehicles current value.

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CarMan@Edmunds

Let's see what sort of payment you can expect, garevels. According to my calculations, if you were to lease a 2004 BMW 330Ci with an MSRP of $45,495 and a selling price of $42,830 through BMW Financial Services right now for 3 years with 15,000 miles per, your zero down, pre-tax monthly lease payment should be right around $529 or so.

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CarMan@Edmunds

You're very welcome, cuco. Congratulations on your new car! Enjoy and thanks for taking the time to come back and let us all know how everything turned out.

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njl

Hi...I'm new to the forum and find the information extremely interesting, although many of the numbers quoted seem too low. For example, the last BMW 330CI for $529 + tax?? No dealers in NJ are doing that deal.

Anyway...I need the works on the Toyota Sienna XLE Ltd. I'm in NJ and need numbers for 15K mileage and 3 year lease.

Thanks in advance and please keep up all the good work!!

shotgun5

I am on the fence between the 530I lease I asked you about and taking a hard look at the G35 again, can you tell me if there is any special rates on Infinity right now and if not what I could expect on a G35 for 36mth at 15k a yr--thanks in advance this is the best part of all the foreums I have ever been on

CarMan@Edmunds

Thanks for the additional info, cabaiste. If you were to lease a 2004 Dodge Durango 4WD SLT (non-Hemi) through Chrysler Financial this month 2 years with 12,000 miles per, its base lease money factor and residual value should be .00080 and 56%, respectively. The numbers for an otherwise identical 3 year lease should be .00141 and 51%. When negotiating your lease on this truck, don't forget about the $4,000 lease cash and $1,000 Chrysler Financial bonus cash that are available on it right now. This $5,000 in cash incentives will help you to negotiate a very attractive capitalized cost.

Ford publishes what are known as lease rates instead of lease money factors. You can convert a lease rate into an approximate money factor equivalent by dividing it by 2400. If you were to lease a 2004 Ford Freestar SE through Ford Credit this month for 2 years with 12,000 miles per, its base lease rate and residual value should be 7% and 46%, respectively. The numbers for an otherwise identical 3 year lease of this van should be 4.75% and 37%. In most areas, Ford is also providing $4,500 lease cash and another $1,000 Ford Credit bonus cash on '04 Freestars that can be used to reduce your capitalized cost.

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CarMan@Edmunds

You're very welcome, jaa37. The lease money factor that you were quoted is right in line with Volvo Finance's current base money factor for this wagon. This is a good thing because it means that the dealer that you are working with is not marking-up this car's base money factor to add additional back-end profit to your lease. So from that perspective this looks like a very good deal. It's tough for me to double check the payment that you were quoted or give you my opinion on this vehicle's selling price though without knowing this its full MSRP, how long you are leasing it for, and how many miles per year you need to be able to drive it.

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jaa37

Sorry, Car_man: here's the full info

Three years, 36K
MSRP: $39,940
Cap cost: $36,700 (including $1,000 Volvo loyalty rebate)
Money factor: .00045
Residual value: 55%
Monthly pre-tax payment: $436

Is this a good deal, or do you think I could get a better one? I've been trying to negotiate the cap cost down with little success--most of the current rebates apply only to purchases...

copper

Thanks for the info Carman, but are you sure about that 49% residual? That seems like a big drop from July.

Thanks,
Copper

pdurant

Hello, I was wondering if you could tell me what the money factor and residual values would be on an Acura TL and TSX for both 36 and 48 months at 15k per year.

Thanks for the help!

ctorrey

Copper:

Since the new 2005 A6 is due to hit showrooms soon, residual values will continue to take hits on the '04s. Additionally, residuals tend to decrease throughout the year as a normal course of events. This combination is having a drastic impact on '04 A6s. That said, it appear that AFS is making up for it in the form of low MFs and cash support.

Using carman's figures, I calculate a lease of about $525 for a loaded S-Line (incl MA sales tax) for a 36mth lease, 12k miles, and $0 cap cost reduction. I'm also assuming that the negotiated cap cost is invoice (~44k) less $2500 ($1k for loyalty - I am a returning customer - and $1.5k for Audi cash). There have been reports of '04 S-Lines being sold for invoice less incentives.

If my assumption above are correct, it's a great deal. For comparison, in 1998, I leased a loaded A4 2.8q for 36 months, 12k miles, and $0 cap cost and the payment was $550! Amazing.

I'll be back in the market for one of these next month, myself!

parm

Until recently, my local credit union offered a lease-style auto loan that worked similar to a lease in that the amount to be financed was equal to the purchase price less the residual value. I've attached a write-up below from my CU's website that explains it in more detail.

I've come to find that the CU dropped this program because the insurance underwriter kept getting burnt on the residuals. Other CU's have dropped this program as well.

My questions are; (1) Is anyone still offering this lease-style auto loan?, and (2) Are they financially good deals for the consumer?

I'm assuming since the CU's have dropped them that they were probably great for the consumer, but lousy for the financial institutions/underwriters offering them.

Hope to get some good feedback. Thanks.

What is a Lease Style Auto Loan?

Our Lease Style Auto Loan option is an extremely popular program designed to provide members with many of the advantages of leasing, without having to enter into a costly contract. Here is how it works:

Who Owns the Car?

Unlike a standard lease arrangement, you own the vehicle and we simply finance the same amount you would request on a conventional auto loan!

Monthly Payments are Lower!

Lease-style loan payments are significantly lower because you only need to pay the original amount financed down to a balloon payment balance equal to the vehicle's residual value at a future date that you select up front!

Who Stands Behind the Residual Value?

Rather than the leasing agent disposing of the vehicle in an effort to recover its agreed upon residual value, we obtain an insurance policy up front that guarantees the residual value at the end of the term.

You Have Many Options When that Balloon Payment Rolls Around!

If your vehicle is worth more than the residual value, you are free to either sell it or trade it in and keep the difference between the balloon balance and the amount you were able to get out of the car!
If you want to keep the vehicle, you are free to either pay the balloon balance or talk to us about simply refinancing the balloon amount!
If you want to turn in the vehicle and walk away clear, you are free to do so and we will recover the residual value from the insurance carrier!
Other Items of Interest:

Our program gives you annual mileage options ranging from 10,000 to 18,000 miles, and our over-mileage costs are as low as 8 cents per mile.
If you decide to turn in the vehicle at the end of the term, you won't have to be hassled about Normal Wear and Tear. While we do require you to turn in the vehicle without damage other than from normal wear and tear, just remember that you do not have to pay a damage deposit up front. Therefore, no one needs to find a list of damages to keep from having to return it to you!
There is also a non-refundable fee, which may be included in the amount financed:

Residual Value Fee
Less than $10,000 $500
$10,000 to $15,000 $600
More than $15,000 $700

ctorrey

Car_man -

While were still on the subject of 2004 Audi A6's, could you supply the MF & Residual for an '04 A6 4.2, leased in MA for 36 months & 12k miles. Are the same '04 A6 2.7T S Line incentives available for this model as well?

I'm going to get out there and lease one of these, hopefully in the two - three weeks. I guess I'll have to check back in if my search goes though the end of the month.

Thanks!

CarMan@Edmunds

Hi gccambridge. Since you are new to the world of leasing, you might want to check out the following helpful article that is available here at Edmunds.com: 10 Steps to Leasing a New Car. In answer to your question about leasing, the mileage allowance that one has impacts their monthly lease payment by altering their vehicle's residual value, which in turn changes the amount of depreciation that they have to pay over the length of their lease. If you think about it, it makes sense that the more one drives, the less their leased vehicle will be worth when they turn it in. Most banks lower vehicles' residual value percentages by 1% for consumers who want a lease with 12,000 miles per year instead of 10,000 miles per. Interestingly enough through, I did some research and there actually is not any difference in Infiniti Financial Services' 4 year residual values for vehicles with 12,000 miles per year and 10,000 miles per. As a result, I do not believe that you would have to pay anything extra to move from 10K to 12K on the lease that you are considering. Which sounds sort of strange, but that's what I was able to find out.

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CarMan@Edmunds

Hello daltongang. The first thing that you need to do is figure out exactly how much money your 2003 GMC Yukon is worth right now. You can do so by looking up its Edmunds.com True Market Value in the following section of this site: Edmunds.com Used Vehicle Pricing or by stopping by the following discussion that appears here on the Smart Shoppers Message Board: "Real-World Trade-In Values". One of our most knowledgeable community members, Terry, hangs out in that area and he is usually more than happy to give consumers an idea of what their vehicles are worth if they give him a detailed description. Once you have a good idea of your truck's current value you can see if you have equity in or, or owe more than it is currently worth. Either way, if you want a new vehicle and don't want to keep the Yukon you are going to either have to sell your current truck on your own or trade it in to a dealer. Selling it privately is probably the best way to get the most money that you can for your current truck. The only benefit of trading vehicles in, other than the obvious convenience of doing so, is the fact that some states only charge tax on the difference in price between your new vehicle and your trade. That really isn't an issue here anyhow because it is in consumers' best interest not to put any money down when leasing. So even if you were to trade your truck in, you should have your dealer just cut you a check for it rather than using the proceeds as a capitalized cost reduction on your lease.

As far as leasing a new Yukon XL goes, I would be more than happy to give you an idea of what it would cost to do so at this time. However, in order for me to do this, I need some more information from you. This info includes how long you want to lease it for, how many miles per year you want to be able to drive it, its full MSRP, its selling price, and the state that you are in. Once I have this data, I can give you a very good idea as to what a lease payment would be like on this model right now.

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CarMan@Edmunds

Lponz7, dealers, especially dealers that sell luxury brands like Lexus and BMW, love to mark-up banks' base lease money factors to add additional back-end profit to deals. The special .00175 lease money factor is Lexus Financial Services' highest 36 to 48 month base money factor this month for every part of the country that I have seen. I would be very surprised if this wasn't just a case of your dealer marking up the base factor. The RX is still selling very well, despite the fact that it is the end of the model year. Have you tried comparison shopping at all? Perhaps you can find another dealer in your area who would be willing to lease you this car at the base money factor.

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CarMan@Edmunds

Hi pktrckt. Here's how the incentives on the 2004 Mazda RX-8 break down: $2,500 dealer cash on leases of this model through Mazda's captive finance company + another $1,000 lease cash for 2 year leases of this car + $750 dealer cash = a total of $4,250 that I am aware of on 2 year leases of the RX-8. Despite the fact that it is not mentioned in the incentives section of Edmunds and your dealer's denials, the aforementioned dealer cash definitely exists.

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P.S. Shoot for a lease money factor in the low .00300 range, i.e. .00305 - .00315, rather than the .00370 that you were quoted.

CarMan@Edmunds

You're welcome, Tracy. General Motors is providing $4,500 customer cash on the 2004 GMC Envoy right now, but this cash can not be used in conjunction with GMAC leases of this vehicle. It does have a cash incentive that is compatible with leases of this model, but it is much less than the customer cash. General Motors' current incentives on the GMC Envoy are only scheduled to run through September 7th. I suggest that you check back with me after that date to get an idea of what its new September lease program on this truck is like. I should be able to give you a very good idea of what to look for when leasing this vehicle then. The fact that you are eligible for GM employee pricing should make the process of leasing or purchasing this truck fairly simple and straightforward. Purchasing through this program will give you an attractive non-negotiable selling price. I think that I've answered most of your questions. For specific feedback on that September's lease program is like on this model, check back with me around the 8th of that month. Talk to you then.

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CarMan@Edmunds

Hi markussp. Other than the obvious benefit of getting a brand new vehicle, you will not benefit from getting out of your current lease at all. In fact, it will end up being fairly expensive for you to do so, unless you leased your current car through American Honda Finance Corp. and it is running some sort of early lease termination program, which is highly unlikely. In order to get out of your lease well before its scheduled end you will have to purchase your current vehicle from the bank that you are leasing it through and then trade it in on a new one. To purchase it you will likely have to pay its full residual value plus any remaining lease payments. As you can imagine, this has the potential to add up to quite a bit of money. There is a very very good chance that you will receive less for your current leased vehicle than it will cost you to purchase it at this time. If this is the case, then you will have to roll your negative equity into your next loan or lease or pay it out of your own pocket to get into a new car or truck.

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CarMan@Edmunds

Hi shotgun5. Since you haven't leased a vehicle in a while, you may want to brush up on your leasing knowledge. Edmunds.com has a couple of very informative articles that will help you to remember exactly how leasing works: 10 Steps to Leasing a New Car, Leasing Glossary, and Calculate Your Own Lease Payment. You definitely should check them out.

Let's take a look at the current lease program for the car that you are interested in. According to the latest information that I have see, if you were to lease a 2004 BMW 330i through BMW Financial Services this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00150 and 54%, respectively. When negotiating your selling price of this car, keep in mind that BMW is currently providing $2,400 dealer cash on it, not the $1,200 that you mentioned in your post. Using these numbers, an MSRP of $42,845, and a selling price of $38,855, I come up with a zero down, pre-tax monthly lease payment of right around $530 or so.

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pdurant

Hey Carman,

Can you please give me the current money factor and residual on an Acura TSX without nav for 15k a year for 36 and 48 months? Thanks for the help!

jiii267

Carman-

I'm following up to a message earlier in the month about Touareg lease information. What money factor, residual value, and lease price can I expect to get for a 2004 V6 Touareg with the following terms:

MSRP: $36,515
Negotiated price: $34,000
Term: 36 months
$1000 down
12,000 miles/year

Again, thanks very much in advance for your help. I'll let you know how my search ends.

Great service!

JP

ranajo

Here are the details:

I live in Northern Virginia and bought the X5 3.0 yesterday. It had 83 miles on the odometer. It came with auto transmission, premium package, navi, xenon, cold weather package, rear climate package.

Bank fees, sales tax, tt&l were all rolled into the monthly lease payment.

Signed a 39 month lease with 39K miles for payments of $605.96 per month. The only cash out was the first month's lease payment and a security deposit of $650.

MSRP 50620
Money Factor 0.00125
Residual 60%

Carman - thanks for all your help and thanks to this forum for all the helpful information.

ksharma01

Okay folks... I wanted to give an update here on where I am at. Between three dealers in the Seattle area I found the car I want: 330i ZHP, steptronic, leather, moonroof, cold and in black sapphire.

I negotiated the net cap price to $500 below invoice. They will be making a nice profit from the 2400 dealer cash.

They are insisting on the following number:
Acquisition fee = 525
(had to talk them down from 725)

MF = .0017 (they want profit above .0015 that Car_man quoted)
Residual = 56% (I was assuming 57%)

If I take the residual out of it, since they have no control over this, I essentially will pay $550 more than I planned on over the three year lease. They are not budging on the numbers since they know (and that I know) that there are only a handful of ZHPs available in this area and they are going fast. At least that is what the three dealers around here said when I called up... not sure if more 2004s are coming in, however.

What do you all think? I am signing papers this afternoon after work.

parm

Let's try this again. Until recently, my local credit union offered a lease-style auto loan that worked similar to a lease in that the amount to be financed was equal to the purchase price less the residual value. I've attached a write-up (see my previous post #12690) from my CU's website that explains it in more detail.

I've come to find that the CU dropped this program because the insurance underwriter kept getting burnt on the residuals. Other CU's have dropped this program as well.

My questions are; (1) Is anyone still offering this lease-style auto loan?, and; (2) Are they financially good deals for the consumer?

I'm assuming since the CU's have dropped them that they were probably great for the consumer, but lousy for the financial institutions/underwriters offering them.

Hope to get some good feedback. Thanks.

pktrckt

Hi Car_man,
Thanks for the reply, the $750 IS mentioned in the Edmunds incentive list, the dealer was very forward about the $2500+$1000 for leases and looked up the information on the $1000 incentive mailer I received. I have mentioned the $750 incentive several times and no luck on their agreement that it exists. Do you or maybe Mazdax605 know of a program number? Reason I ask is they were able to find the info on my $1000 off mailer by using the program number I provided. With regards to money factors, I will shoot for lower but haven't started pricing out other dealers yet.

Thanks again everyone.

307web

Most leases do not include mileage any higher than 15,000 per year and then charge $.15-.20 per excess mile.
I know you can prepay for additional miles at a lower rate than the excess mileage rate. What are "typical" prepaid mileage rates and what are the lowest and highest you can expect? Which manufacturer's lease programs offer lower than typical excess mileage rates and do they have limits on the amount of excess mileage you can prepay at the discounted rate?

njl

Update on pricing...Here's what I got from a central NJ dealer an XLE Ltd.

Buy Price: $38,212
Payment: $755/$2000 down
Lease price: $700 / $0 down
Lease Term: 36 months, 15K/yr
Inception
-1st month lease payment
-security deposit (may be waived - depends on the bank and credit) - if not waived then lease payment to nearest $ 50
-acquisition fee - depends on the bank, but can be $ 400 - 795
-motor vehicle - for Sienna in NJ - $ 121
-document fee - $ 149

$700/month??? Are you kidding me???? Anyone have an idea of what a reasonable number would be for a 2004 Sienna XLE Limited?

cabaiste

Thanks Carman for the info on the Durango and Freestar. Can you also let me know what the numbers are on the Durango Limited 4WD for 24 and 36 months with 12,000 miles. Thanks.

mazdax605

Hey pktrckt,I don't know of a program number but I do remember my dealer telling me that when i made my deal that the additional $750 was an incentive that each dealer earns by the month.I made my deal on August 2nd ,and they told me(may have been lying) that it was the last day they could offer it.They said it was held over til then because I talked to them in July about the deal.They said they would most likely quailify for the incentive again for august,but that it all depends on how many cars they sell.Now I am by no means an expert on car buying or leasing(this is my first lease)but I tended to believe this dealer.Regardless I probably would have leased it anyway even without the $750 extra off,because $3500 off is still a good deal I think,but then again I am new to this type of car buying/renting.Any savings will help with this thirsty little car.I wish Mazda had made more room for a bigger fuel tank.Good luck let me know how you make out.Car_Man can help more I am sure.

cole

Carman -

The wife and I are seriously considering leasing a 2004 Infiniti FX35 AWD or RWD. Do you know of any support currently being offered on this vehicle? We would most likely go for a 12k/36mo. lease.

Can you also tell me the base money factors and residuals for:
12/36
15/36
12/48
15/48
leases? Thanks!

kyfdx

Are they running the same lease specials as on the 2.5? I know the 2.5 has a special 39 month lease with residuals of 62/61/59 for 10K/12K/15K leases with MF of .0011

Does the 3.0 have similar deals? If not, then the MF and residual for 36mo/15K lease, please, or 39 months if those are better.

Thanks,
kyfdx

CarMan@Edmunds

I am glad that you find this discussion so interesting, njl. Any of the sample lease payments that I work up for consumers definitely are realistic. The New York / New Jersey area is actually a very competitive automotive marketplace. Many dealers, including some BMW dealers, are willing to cut deals on vehicles that there is a decent supply of to the bone. The trick is to comparison shop until you find a dealer that is willing to do so.

Let's take a look at the vehicle that you are considering leasing. Toyota is not currently providing any sort of lease support on the 2004 Sienna in your area. As a result, if you were to lease one through Toyota Financial Services, you would have to use its base standard lease money factor, which I believe is currently .00215. Its current 3 year, 15,000 miles per residual value for the 2004 Sienna XLE Ltd. is 54%.

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CarMan@Edmunds

Thanks for the compliment, shotgun5. Infiniti is providing a little lease support on the 2004 G35 2WD Sedan right now. It's most attractive lease term for this model is 39 months. I would be more than happy to work up a sample lease payment on the exact model that you are considering for you if you provide me with its full MSRP and selling price.

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CarMan@Edmunds

Thanks for the additional information, jaa37. According to my calculations, if you were to lease a 2004 Volvo XC70 with a full MSRP of $39,940 and a capitalized cost of $36,700 through Volvo Finance this month for 3 years with 12,000 miles per, its zero down, pre-tax monthly lease payment should be right around $436. This is exactly what you were quoted, which is very good news. I would say that you are indeed getting a good deal on this wagon.

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CarMan@Edmunds

You're welcome, Copper. I just double checked and AFS' current 36 month 15,000 and 12,000 miles per year residual values for the 2004 A6 2.7T S-Line are 47% and 49%, respectively. Vehicles' residual values gradually drop as the model year progresses. This decline is often even steeper if a redesigned model is going to be introduced in the near future.

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CarMan@Edmunds

I would be more than happy to help you out, pdurant. According to the latest informaiton that I have seen, if you were to lease a 2004 Acura TL without navigation through American Honda Finance Corp. this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00260 and 56%, respectively in every state but New York. The numbers for an otherwise identical 4 year lease of this car should be .00220 and 49%. If you were to lease a 2004 Acura TSX without navigation, its numbers should be .00260 and 57% for a 3 year 15K lease and .00220 and 50% for a 4 year lease.

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