Lease Questions - Ask Here

kyfdx

The Odyssey lease is good because the residual is HIGH.. That is what makes a LOW lease payment.. If you plan on purchasing at the end of the lease, then it isn't as good a deal.. The HIGH residual makes for a HIGH price when you buy it.

It is a very good deal if you just plan to lease it, then turn it in.

regards,
kyfdx

njl

Therefore, is it advantagous to lease a new car at the start of a model year rather than at the end?

cole

It's advantageous from a residual standpoint, not necessarily from a capitalized cost standpoint (due to lack of rebates, high demand driving up selling price, etc.) and therefore not necessarily from a 'best lease deal' standpoint.

Kirstie_H

Depends on the model as well, and what options you want on it. At the end of the model year, you might find that a limited selection of vehicles is available, and you have to take what's on the lot. We just did a Pacifica lease, and for what we wanted on the vehicle, we were able to get a better lease on an 05 than on an 04 - the 04s on the lot were fully loaded.

So, you may find out more just by going to the dealership and looking for the best deal you can make. What car are you looking at?

kirstie_h
Roving Host & Future Vehicles Host

kyfdx

It just depends.. sometimes low residuals are made up by low money factors (interest) and low sale prices.

The Odyssey is a particularly good deal right now.. but, there is a brand new model coming out in '05, so they need incentives to move the old one.

In general (that means, generally..lol), I think good lease deals seem to peak in March.. Residuals are still decent, and manufacturers are trying to move product after a slow winter. Residuals are strong on new models in the fall, but sale prices are usually high also..

regards,
kyfdx

kyfdx

Is it Friday?? thought so..LOL

cuco

njl,

  I can tell you how I saved money.

  I knew the dealers were getting a manufacture-to-dealer incentive to unload the 2004 cars. That incentive will not be there for 2005. Since the car was new, the residual was still pretty high, 58% for the 2004 car.

   Higher residual and lower capitalization cost, because of incentive, meant a better lease.

   Next, you go to the website for dealers in your area and write down the stock number for the model of car that you're looking for and the options listed for each car. Then, you go to www.carsdirect.com or Edmunds, and you get the Invoice, MSRP and TMV for that model car with the options listed for each car in the dealers lot. Now, since you know the dealer is getting a rebate from the manufacturer, give the dealer $1000 profit after you subtract the incentive from the invoice price that you found at Edmunds. That gives you the capitalization cost of the car at the lot. Then, try to get the best money factor that you can, and you have a great lease deal.

ketava

My husbands 04 f-250 powerstroke diesel truck has been in the shop 4 times in his 4 month old lease, tranny failure, our truck is for work we get paid when it goes to work so our lease payments are paid, we pay nearly $1000 a month for this truck and we have lost nearly $2000 because the truck keep breaking down, we feel that our truck is unsafe and we don't want it anymore we would like a different truck we ask for a reliable and sturdy vehicle and went brand new, we have be refused any help from our dealer and any other ford dealer, we have warranty and the truck is fixed for free but the repairs aren't done right away and we are out a truck, our lease is so new why can't they give us a new truck and send this one back to the manufacturer, it is obviously defective, they refused and said we would have to pay out the lease, we can't afford to do that, do we have any rights, seems to me I have been hearing about a lot of tranny problem in ford I think maybe they need to take some responsibility for the product. if any one has any advice they can give me we would much appreciate it.

cstowe

I am in need of a nice sedan and had decided on trying to find a low-mile CPO Lexus gs430 (2001) to purchase. After reading some of the comments and monthly payment figures on this board I am intrigued by the option of leasing a new car instead of buying a CPO. CarMan, what do you think are the best deals right now on midsize Lux sedans in the leasing world? I live in Tulsa OK and want something comfortable with a little sport. I am open to most non-domestic makes. Thoughts?

anonymousposts

Complaining to Ford might be a double-edged sword. A lot of consumer leases state that the vehicle is NOT to be used for commerical purposes. Did you lease in the company name or your name? If you leased in your name and didn't notify Ford Credit it would be for your business you might end up in trouble.

Am I way off base here?

gah

I'm thinking about a lease on a 2004.5 S40 w/Premium, Audio & Sports Pkg. What would be a good deal re cap cost? What is the residual on a 36 mo. lease and money factor? Other suggestions? Thx!

nycadguy

Hi carman, i was wondering if you had the residuals and moneyfactors for an 04 RX330 AWD no nav, no rear entertainment, 12K miles a year, 36 months.

also, does lexus do 10K mile a year leases? if so, do you have numbers for a 3 year 10Kmile lease?
thanks!

rroyce10

.. **we have be refused any help from our dealer and any other ford dealer** ....

            Hmmmm, another interesting story .. the dealers LOVE warranty work, they get get paid big money from the factory to repair them -and you can't find anyone to work on your Ford product.?
             

               I know there's a lot of Big money in Vancouver, but not that big .l.o.l...

                 sniff sniff, do I smell another troll coming on.? ............ ;-)

                         Terry.

scottg1

My lease expires in Oct. on a 2001 Suburban 1500LT. My residual is 24K. My bank called me and offered me a "deal" to purchase the vehicle at a wholesale price of 15,875 + tax, and my next two payments. The final price will be about 20K. What's your thoughts about purchasing the vehicle? Should I buy or walk away in Oct.? Thanks for your response.

Scott

rroyce10

....... It depends ........

        2wd/4wd ...? .. location, slider, miles, condition, quads, 3rd seat...??!?

                              Terry.

dlubin

Hi,

We're looking at an 04 Odyssey, and know about the great 2yr lease deal (68% residual, .00089 Money). Question is, does it apply ot all models (EX-L especially) or just the cloth model EX's??

Thanks!

ponytrekker

Incredible deals on the A6 2.7T right now. Also decent deals on the BMW 3 series but the A6 is a far better deal.

dlubin

Hi,

We're looking at an 04 Odyssey, and know about the great 2yr lease deal (68% residual, .00089 Money). Question is, does it apply ot all models (EX-L especially) or just the cloth model EX's??

Thanks!

kyfdx

Lower residuals on models with rear entertainment systems (DVD).

andre1

I noticed that most information on this forum is for 36 and 48 months, but I'm looking for a 24 month lease deal. Has anyone run across any good 24 month lease deals (12K mileage, less than $500/month, no cap cost reduction, SE location)? I'm primarily interested in BMW, Audi, Mercedes, Lexus or Chrysler (330C or Magnum RT)? I'd even be interested in used car lease deals.

kupe

hey carman...any info. on the august lease details for 2004 acura TL w/o navi?

kupe

hey carman,
any info. on the lease details for august. can you let me know the money factor, residual, and payment for a 36 and 48 month lease on 2004 acura TL auto w/o navigation. MSRP $33,349. selling price $30,661. can you figure it with $2000 down.

thanks, kupe

inverness1

HELP CAR_MAN
I'm about to sign a lease today for a '04 Honda Pilot EX with leather. I just found this board, wish I knew about it before! These are the numbers

MSRP 30,870
Selling Price 28,260
Residual 18,816
Money Factor 0.00252 (I live in NY)
Term 36 mos.
Mileage 15K
Money Down $1592 (I'm calling my dealer today to remove this after reading your reasons not to put money down)
Inception $1298
Tax 7.5%

Monthly Pymt. $351

I need to get a new quote on the monthly payment without any money down, but does everything else seem good?

billtodd

I am also a first time leaser and have not found that much on leasing a 911 Cabriolet...I would be interested in hearing some experiences of people leasing this vehicle...also what can I expect the 'markdown' on a 911 to be?
Thanks

billtodd

I am also a first time leaser and have not found that much on leasing a 911 Cabriolet...I would be interested in hearing some experiences of people leasing this vehicle...also what can I expect the 'markdown' on a 911 to be?
Thanks

fish8

$1000 per month? WOW!!!! Your post is not very clear, but has your truck been in the shop all 4 times for transmission failure? If so, look into the lemon Law in your state. Also, its not that easy to "give you a new truck" and "take your's back". You have to go through the Lemon Law process outlined in your your owners manual.

Good Luck!

aknab

What are the current lease rates and such for a BMW z4, 36 month at 15K miles?

Secondly I have used a few lease calcs and using the MSRP vs. what I would pay, which is a lot less due to the holdback, I get some very low payments. Is this correct?

cuco

aknab,

  I got a 2004 Z4, 36-month, 10000 mile / year.

  Money Factor: 0.0019
  Residual 58%. You may be able to get 55% on 15k miles.

  Manufacturer to dealer incentive of $4500 on 3 liter and $3500 on 2.5 liter.

  You may be able to get a price of (Invoice - incentive + $1000)

  Good luck.

uconsumer

Inverness1,
I was quoted .00240 MF on a Pilot EX-L in New York. It sounds like the dealer may be marking up your rate. I live in WNY, what dealer quoted you a price of $28,260?

By the way, based on Selling price of $28260 with a residual of 61% and MF .00252 and no money down, your monthly payments would be $380.59 with a MF of .0024 your payments would be $374.94
Good Luck,
Joe

inverness1

Thanks Joe for the info on the money factor. Can the dealer change the money factor? I thought that was determined by AHFC. The dealer is in Westchester County, NY.

I really shopped the price, so maybe they're trying to make up for the low price. hmmmm.

uconsumer

Carman can confirm, but I believe that a dealer can and will mark up the MF. AHFC set the residual value and MF, but allows the dealers to add profit into the MF.
Joe

mazdax605

Hello again Car_Man,

I was wondering what you know about a mazda financing AVP lease?The salesman I spoke with(one who I bought a few cars from in the past) told me about a program called AVP through MAC.He says it is like a lease,but the car is essentially ours,and is registered in our name.He also said I can turn it in at the end of the term like a lease and pay $350 or buy it for 40% as the residual.He also told me it didn't use a MF but that the interest rate was 1.87%.He gave me a payment of $319 a month for 48 months and 15 K a year.$1400 due at inception which was sales tax and registry fees along with a doc fee.The residual fee was $9400 he said.The cap cost he told me was $23500 on a 6 sport wagon w/auto,bose package,and LEV package in Squall blue.I have no idea on this AVP thing.Is it a good deal?The thing is I have a quote from the dealer I leased my RX-8 from on the same 6 wagon in silver and they gave me a price of $329 a month on a 48 month lease w/12k a year 43% residual which included all taxes per month(sales and excise taxes)and $765 due at inception.The cap cost from that dealer was $22200.Help please.

Chris

mazdax605

Hey andre1,

I know this car wasn't on your list,but I think I got a good deal on a 04 Mazda RX-8 about 3 weeks ago.My deal was a 24 month 12k a year lease on a base 6 speed RX-8.I got $4250 off of invoice price through mazda financing,and my payments are a smidge over $300 including local state and excise taxes.My out of pocket was 1st,security,plate fees,and the acqusition fee.All totalled to around $1200.I hope this helps.There are some 24 month lease deals to be had.This was/is my first ever lease I hope I did ok.Good luck.

Chris

inverness1

I just spoke to my dealer and I'll get the .0024 money factor. Thanks again.

Are you in the market for a Pilot EX-L?

jhk04

Hi there,
Problem, second car 1995 Bonneville died this weekend on a long road trip. We've been saving up for a new car, but wondering is there such a thing as a 1-year lease? Will be moving overseas in 12 months and can only take one car, so don't want to buy and sell a car within 12 months.

Any advice? Thanks!

ortega

Hey CarMan. I'm looking for Money factors and residuals on 15K, 36 & 48 month leases for the S80 and S60 models. Also, is there an attractuve deal on a 39 month program? I live in Northern NJ.

Thanks for your help.

ortega

I failed to mention...I'm referring to 2004 models. If you have this infor for '05's as well, by all means tell me.

Also, I'm assuming these vehicles should be selling right around invoice price right now? Please give me your opinion (I live in Northern NJ).

need_a_new_car

I am looking at a 2004 X5 with Leatherette, Panoramic Moonroof and automatic. It lists for $44,120. the money factor is .00125 and the residual is 61%. Since the dealers want to move the 2004s what type of capital cost should I look for? I am looking at 15k miles for 39 mos for a lease so based on that cap cost what should my payments be? My salesman says that this deal ends at the end of the month, is it true or am I better off waiting longer for a better deal?

pgill

I am also shopping for a 2004 X5 (in NJ). Are you sure the residual on your 39 month, 15k miles per year is 61%? I believe the 61% residual is for 10k miles per year for 36 months. I was able to get quotes of $2,000 off the MSRP without breaking a sweat so I'd imagine you can do a bit better (again, this is in NJ). The current lease terms are due to expire at the end of August (they started running them in beginning of July). Based on what I hear from the dealers around here, there isn't much inventory of X5's left for BMW to sweeten the deal for September, for what that's worth. Hope this helps.

uconsumer

I am in the market for a Pilot EX-L, and trying to get the best price. I'm haggling with dealers in Buffalo, but none have offered anything close to what you are getting. Email me with your dealer info, and I will contact him.
Thanks,
Joe
edmunds@welchoff.com

need_a_new_car

I think you're right about the residual. I believe the salesman said that 12k dropped it by 1% but I'll have to recheck. My bad. I'm just trying not to overpay on the discount from MSRP. Thanks for the $2k discount info.

gt1

I see on this forum 24 month lease incentives, with the $2500 and $1000 customer incentive easy to obtain. I have 3 questions:
1) I have contacted two dealers who absolutely will not accept there is a $750 factory to dealer incentive. I do not know how to get through to them on this. Is there a program # for this? Anything else to convince them?
2) How about the $1000 your invited mailer incentive? - Is it possible to obtain this without the letter, is there a program # I can refer to? How would it be possible to obtain this "your invited" letter?
3) I am thinking about immediately buying out of the lease to gain the incredible incentives. Capital One has a decent rate for lease buyouts (5.8%?) but I am confused by all the calculations. Would it be better for me just to accept the Mazda 0% financing or go through all the ropes to obtain the most incentive, purchase it and hope that after all the associated fees and interest it is still worth it?

I hope Car_man or other experts on this board are available to help, and I am sorry for barraging with questions, I really have spent a long time looking at this, but it is time I ask some experts!

Thanks!
Bruce

spatulaman

Alrighty, I think I've decided what I'm going to get if/when my TT sells...its either going to be a Titan or a Tundra, and it will defintely be a lease. Here are the candidates:

2004 Titan King Cab LE 2x4 w/ Big Tow & Nav

or

2005 Tundra Access Cab Limited 2x4 w/ Leather, Nav & VDC

I'm going for 15k miles/year and 36 or 39 months

What kind of MFs and Residuals am I looking at through Nissan/Toyota finance??

I'm in Texas, BTW

Kirstie_H

A reporter is doing a story for Parade magazine (the magazine in most Sunday papers nationwide). She is looking for someone who, this year, traded in their SUV, pickup truck or minivan for a car, preferably a domestic car, but that’s not necessary.

If you have done this, or someone you know has, and would be willing to speak with the reporter, please e-mail pkrebs@edmunds.com by 5 pm PT today. Thanks!

KCRam

Be sure to check in with Edmunds.com's Phil Reed during one of his two chat session tomorrow on "More Strategies for Smart Car Buyers" tomorrow (Wednesday) Aug 25 at noon PDT/3pm EDT and 6pm PDT/9pm EDT. Use the link at the top of the page or go to the Town Hall home page for more info.

kcram
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richd

Most NYS car dealers have now changed the lease terms because of this old Vicarious Liability law. So you actually own the vehicle and the lease has a balloon payment to buy or you return the vehicle to satisfy the payment debt. The big "but" is whether the vehicle value is equal to it, otherwise you have to make up the difference!!!
Anyone have any experience with this, advice or know the risks of the value being low??

KCRam

Rich, these are called "balloon loans/notes" and have been around a long time. GM has had their SmartBuy balloon program foir a number of years all across the country.

As you mentioned, its use in NYS is a result of the VL laws, but it's not really the dealers who have made this choice, as they have nothing to do with the transaction in terms of leasing/financing. The manufacturters and banks made the switch collectively, and dealers can only offer a customer what lenders offer them.

If you enter Smartbuy in the Search box on the left, you'll have a few discussions to choose from; entering "balloon" will give you a couple more.

kcram
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ch7656

Hi Carman-
Hoping you can help with the following info. 2004 VW Bug...looking for MF & Res on a 36/12k...also if there's anything else I should know about current incentives (to dealer or buyer) that would be great. Thanks so much!

adfsa1

Can you please provide the residual/MF on an '04 Land Cruiser for 3 years and 15K miles? Thanks much! Have heard about significant discounting on these.

CarMan@Edmunds

Hi everyone. As you may or may not have noticed, I have been away for a few days. I just wanted to post a quick note in this forum asking those of you who still have questions to post them again. Thanks and talk to you soon.

Car_man
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