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I'm new to leasing so please help...looking at BMW 325I..$30,080....which is $1,000 below MSRP.
Quotes: $1,700 down, $564 for 36 months
OR
$0 down, $625 for 36 months.
How does this look? People are telling me it should in the mid-upper 400 range. Thanks very much.
I have worked out a deal on a new Volvo V70 2.4 non turbo w/ leather, touring pkg, versatility pkg, Winter& trac. ctrl pkg, auto and sunroof. I got 300 over invoice and the color I wanted.
My question is what are the official numbers on the car for the Volvo Finance June lease specials for 39 mo. and 15 K a year? 2 different dealers have given me quotes of:
-Residual 48% Money factor of .00036 on a similar car
or
-Residual 52% Money factor .00056 on the car I want.
Can I ask them to give the lower MF with the higher residual, or do they somehow correspond? Its not a major deal, but it might save me $500 over the lease term. Also my credit/beacon score was 780. Does a higher rating get them to sometimes waive a security deposit or does Volvo Finance require it.
I plan on picking up the car and signing papers Thursday, just wanted to know the "real numbers"
Thanks, Kevin O. in Minneapolis
1. Lease with minimum down
2. Lease with multi deposits to lower payment
3. Cash chunk down & finance the balance
4. Cash it out
Thoughts? I'm leaning towards #2. It'll cost me $13K total down, leasing $55K for 48 months with a payment in the $730 range. I think #4 would be the cleanest, but why tie up the cash?
Per my earlier post while you were away, I am still interested in the mf and residual rates for a 2001 OB Wagon base 5sp in California for 36 mos 12K and 15K miles.
Also, I learned from a dealer that Subaru uses Chase for manufacture leases, i.e. there is no Subaru Finance Crop. Is that correct? Is that common, using a third party bank in the role of a captive finance co?
Regards.
Good Luck.
Here's the situation...my wife and I need a larger vehicle due to the birth of our first child.
We currently have a 99 BMW 328i, Titanium Silver, 26K miles, good/excellent condition, all options except NAV and rear seat air bags. It was acquired through BMW's Owner's Choice Program (basically a lease with a balloon payment due at the end) for 3 years at 15K miles per year. There are 10 payments remaining at $621 each and the current payoff is $32,305. Research of multiple sources shows avg. trade-in of $29,000+ and average retail of $35,000+.
We'd like to lease a 2001 GMC Yukon Denali.
Two issues:
1. What should we expect our lease payment to be on the Yukon? Our choice would be 3 years, 15K miles. MSRP is $46,150, Invoice is $40381, Dest. charge is $730, Dealer Holdback is $1,385. It seems very possible to pay about $1000 over invoice at local dealers(state of IL).
2. In your opinion, will the BMW be a liability for us? It appears to me that its value is strong versus the lease payoff. Could this help lower the cost of the Yukon as a trade-in?
Thanks very much for your consideration!
Jeff in IL
thx
Can you please provide the MF, Reisidual and if there are any acquisition
fees when leasing directly with Honda. Also, if you happen to know what
60 month financing Honda is offering for the civic, could you post that as
well. Thanks.
looking at a 2001 grand am gt sedan w/value package
leasing at 36 months @ 12,000 miles per year
also, can a dealer fluctuate from this residual factor? if so, what would be the difference be between a lower or a higher residual factor and which would benefit me more?
thanks
.0028 for a 525.
Trejos28, your question sounds really familiar to me. I believe that you must have posted it in a different topic where I responded to it yesterday. If you have trouble finding it, please let me know and I will try to figure out where it is. Thanks.
Car_Man
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Generally speaking individual dealerships do not have any authority to alter the lease money factors and residual values that banks publish. The one exception to this is that they often are allowed to mark-up lease money factors in order to bake additional profit into their deal.
From time to time Volvo Finance will waive the security deposit on certain models. They frequently do so for returning customers, but I don't think that whether they will or not has anything to do with your credit score.
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Some manufacturers do run their lease programs through major banks rather than having a captive finance company of their own, but Subaru does have its own financial arm. I do know that for some reason many Subaru dealers choose to lease their vehicles solely through Chase. They must have a very competitive program, but I don't know its exact details.
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Thank you, but I have a follow up question. Are you saying that at some dealers I cannot use Subaru's own finance company and I have to go with Chase? I don't have the choice? If that is correct, why would that be the case? It doesn't make sense. I would think I would be able to choose the best deal. What do you think? Many thanks.
I have heard some great lease deals are available on the allroad right now, and am wondering what information you can provide me. I would greatly appreciate any of the current numbers for an allroad lease, and your opinion on whether to act now or wait for something better in a few months.
I'm looking for no money down, and either 36, 39, or 48 months, depending on which is most favorable. Also might want to purchase some extra miles up front (do you have Audi's upfront cost vs. lease-end cost??).
I really appreciate you being here for us--the service you are providing at no cost is awesome!
Thanks in advance,
Brent
Welcome back - good to hear you had a nice vacation.
I would appreciate your advice - I am looking to lease a Certified Pre-Owned 1999 RX300 from a Lexus dealership in New York. The models I am currently looking at have about 30K miles on them.
The advertised price is $28,500, which I feel is fair according to Edmunds's TMV, but will try to negotiate down (always worth a try). It's pretty much loaded.
My questions are:
What should be the residual value be on a 36 month lease? Since this is a pre-owned car, I would assume the residual should be much higher than the 56% range for new cars.
What would be a fair money factor from Lexus Finance?
To follow your advice, I would like to put no money down - is this possible with Lexus?
How should I initiate the process - should I submit a credit application with the dealership prior to negotiating price or after we lock the price/residual down?
If possible, would you please provide a sample lease scenario based on the above? Again, I am looking to lease for 36 months - and possible in late July, when hopefully the sales incentives kick in.
Thanks in advance for your help!
Aculex
Even though you still have payments remaining on your current car, if its actual market value turns out to be higher than your purchase option then yes it actually could provide you with some equity to use in your negotiation of the lease on the truck that you want. You will need to speak with the GMC dealership that you are working with to see how much money they would be willing to give you for your BMW as a trade to find out where you stand.
Car_Man
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Generally speaking individual dealerships do not have the authority to alter a bank's published residual values, so this really is not something that you will have to worry about during your negotiations. Just for your information though, the higher a vehicle's residual value is, the less depreciation you are paying on it, and in turn the lower your lease payments would be.
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Thanks for the response to my questions in post 1210. A couple more...Can you tell me what money factor and residual you used in your calculation? How are IL taxes paid? On the lease amount or on the entire purchase price? $717 seems a bit high, is that because the residual on a Denali is not strong? Is GMAC the best lease source in your opinion?
Thanks and have agreat day.
Jeff in IL
Thanks for your previous information on my earlier post. As you suggested, I wanted to check back with you on the money factor in Volvo's June lease special. It may have been lowered and you said you might have more info today. Vehicle: V70 2.4 non-turbo, leather, sunroof, auto, traction, 15k/yr 39 mo. I pick up the car and sign papers tomorrow (THURS) and am curious to know if the dealer is trying to mark up the money factor.
Thanks as always,
Kevin O. in Minneapolis
1. Lease with minimum down
2. Lease with mufti deposits to lower payment
3. Cash chunk down & finance the balance
4. Cash it out
Thoughts? I'm leaning towards #2. It'll cost me $13K total down, leasing $55K for 48 months with a payment in the $730 range. I think #4 would be the cleanest, but why tie up the cash?
1) If I exceed the mileage (36k), how common is it for the dealer or menufacturer to waive the excess fees in exchange for loyalty (i.e., buy or lease another car from them)?
2) If answer to #1 is favorable, then is this type of thing usually dealer-specific or is it manufacturer-specific? Out of curiosity, who then bears the excess mileage depreciation expense?
I'm sure all of this is semi-negotiable, just curious as to how common thir practice is. My dealer implied that it is fairly common, at least with them. Worst case, if under, buy and sell at profit; if over, buy and keep (or sell, depending on market value of the car); if even, buy or turn in, depending on what you want.
Thanks in advance.
36 mths 12000 miles taxes in payment
695.00 mth 525 bank and 1st mth sec wavies + plates. I get 67% and .0030 for my payment of 695
Using your info, the payment is calculated as follow -
depreciation = (43958-29500) = 14,458/36 = 401.61
interest = 47500+43958*.003 = 274.38
total payment should be 401.61 + 274.38 = $675.99 plus tax based on the info you gave.
Unless the $695 includes tax, it sounds like the dealer's numbers are off a little bit on the high side - they may be padding the money factor a bit or the sales price of the car is really a little higher than 43958.
You the man. Thanks for the info on the Jetta and Civics. I have
a few follow ups since the lease numbers for 3 year leases that
you provided were much better than I originally anticipated.
What is the MF and Residual for a 2 year lease and 15K/year
mileage allowance on both the Jetta GL and Civic LX ? Also,
is there an acquisition fee when financing through VW.
Thanks.
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So there's some serious dealer manipulation going on there, methinks...$70 per month is a big jump. That's like inflating the sales price by $2,500, or raising the money factor up to .004 (9.6%).
In case I can't get the deal I want on a Jetta GL or Civic LX, I'm looking
into a Corolla LE as a back up. Can you provide the MF and Residual
for both 2 yr and 3 yr leases, each with 15K miles/yr. If you know of
rebates that can be applied and if there are any acquisition costs that
info would be greatly appreciated.
Thanks.