Hi again kmouradian. The only cash incentives that are available on 2004 Chrysler Crossfire leases are the $1,000 loyalty cash that you mentioned and $1,000 bonus cash for deals through Chrysler Financial. You would qualify for the latter and should use it to negotiate a more attractive capitalized cost. While it is not as low as the factor for Crossfires that have sticks, Chrysler Financial's lease money factor for '04 Crossfires with automatic transmissions is still a low .00038 and the residual value would be the same.
The advertised deal that you mentioned definitely looks attractive to me. I would love to know this car's full MSRP and selling price though. These numbers would allow for a more thorough analysis of it.
Good luck in your negotiations. Let me know if you have any other questions and don't forget to stop back and let us all know how everything turns out.
My girlfriend is getting ready to get into an RSX...She is trading in her '02 Saturn SC2 which has a payoff of $9.7K. The dealer is offering a 36 month lease with 15K a year at $393 a month. That includes around $1.7K in negative equity and putting $1K down...I don't want her to put the $1K down...The MSRP on the vehicle is $22.5K. What kind of deal are we really getting here? I look very forward to any responses as we are looking to complete this ASAP.
Thanks for the quick reply. As soon as I find out what the details of the lease are, I will post up.
Just so I can get this straight, the 6 spd. manual Crossfires are the ones that have the MF of .00004? I thought it was the automatics. Honestly, I would rather have the manual anyway.
First off, I'd like to thank you for being a great help for us out here who doesn't know much about buying or leasing cars.
Regarding the vehicle on the subject, I was given this by All American Ford in Hackensack, NJ.
2004 EXPLORER 4-DOOR 4DR 4X4 XLT Exterior Color: BLACK CLEARCOAT Interior Color: GRAPHITE / LTHR SPORT BUCKET W/PWR DRVR Engine: 4.0L SOHC V6 ENGINE Transmission: 5-SPEED AUTOMATIC O/D TRANS Equipment Discounts: No Charge Third Row Seat MSRP - $35,160
A friend of mine who leased the same type/model got it for only $31800 from the same dealership with $6000 rebate, but I don't know what kind of rebate it is. Her lease rate is 3.5% and the residual value after 3 years (12K miles/yr) is $15,000. Does this sound reasonable to you? I think that this is a good deal and am hoping to get the same.
Honda is sponsoring a three year lease at $259 a month with $1999 down. If you rolled the down payment into the monthly payment, you would be looking at $315-320 a month with only fees and first payment due up front.
Honda's lease says - $2259/month for 36 months with $1999 cap. cost reduction, $3128 total due at signing, includes first month payment, security deposit, cap. cost reduction and upfront acquistion fee. Excludes tax and license.
I hate to admit I feel clueless - but I do! Any help is appreciated. I just want a fair lease price!
If your upfronts are only the difference between your trade-in equity and the check you get back (under $1100?), then they are rolling your acquisition fee into the cap cost (meaning into your monthly payment..a good thing). In the advertised example, you pay it upfront.
So, as close as I can figure, you are getting just about the same deal as advertised..
MSRP = $29920 Selling price = $28200 Acq.fee = $595 Cap cost = $28795 MF = .00136 (from search of this discussion) Residual = 63% (calculated from MSRP and your post)
Payment = $341/mo + tax.. 3yr/36K mile lease. Don't know your tax rate, but that looks pretty close... If I back out everything to match the advertised deal, It is within $6/month.
All of this assumes that you will have to pay nothing upfront.. that it is being deducted from the check they are cutting you for your trade-in, hence the discrepancy in amount.
Your first payment (which will actually be payment #2) should be due 30 days after delivery.
Although this is a good deal on a $37,000 car, I'm not convinced that the Saab Aero is $37,000 car. I can get this same deal on the phone with Acura TSX, without negotiating.
I will go at take a test drive tonight and see if I can get them lower. After all, tonight is end of 3rd quarter and end of the month.
Your info was 100% correct on the money factor buy rate was at 175. I got the negotiated purchase price $500.00 lower thanks to a Race to Audi coupon that expires today. So essentially I was able to get the purchase price about $300.00 below invoice. My total drive off was a hair over $1200.00 First month and licensing. With a hair raising monthly. It's a stomach churning amount to pay a month considering I haven't had a car payment in over 4 years. But dam life is short and this car is so fun.
I was wondering if you could get me some numbers for a friend of mine at work.He is looking getting a 04 ford F350 truck.I told him in his situation he may be better of leasing.He is interested in either a 36-48 month lease.The model he is looking for is F350 standard cab 4X4 with the 6.0 litre diesel,5 speed automatic,snowplow prep package,blackside wall tires,shift on the fly 4wd,and trailer hitch.He is interested in 12K a year.Could you please provide the base money factor,and residual figures for this truck or one similar?Thanks in advance.
Yes. It seems that Illinois and Texas both require you to pay sales tax on the "Sales Price" of the vehicle even for a lease.
I have not yet confirmed if this is the MSRP, the NET CAP COST, or the MSPR minus any discounts, OR the MSRP minus any discounts EXCEPT for lease incentives. THe Saab salesman told me that it would be the latter, but he also (initially) told me the residual value of the 2004 aero is 50%.
Also, I was told that in Illinois, if I decice to buy the car at the end of the lease, they require you to pay sales tax on that portion again.
Maybe I just need to move. I don't think the Saab lease is a good deal anymore. I'm going to go there tonight and lowball them anyway.
I think it was probably my post that mentioned the coupons. I have decided to lurk in the market a little longer and see what happens in 2005.
Part of my thinking is that the 9-3 has been subsidized for leasing with cash and good money factors since the model line was revised. Saabs do not have good residual values compared to other near luxury cars. I was quoted 44% on a 2004, realizing that the model year is over. So, I thought that the increased residual in a 2005 may offset a reduction in the cash discount. I hope so, because I want a manual transmission and there seem to be very few standard 2004s around.
"Thank you for your e-mail on a new Crossfire. The information is pretty simple. The deal is just an outstanding one for you the customer. The do at siging is $1995.00 plus sales tax on rebate and the tag fee of 188.00. Dealer fee is included as well the first payment.The acquisition fee is already figured in to the deal.There is no security deposit required on this deal. The numbers are all in your favor."
Even though I am still skeptical, it looks like I am going to contact the dealership and see how things go.
Yeah, I'm going to the dealership today after work to see if I can work out this deal. I'm just bracing for a catch once I get there. Like the car is a demo or there are a bunch of hidden fees.
With any luck, the car will be sitting in my driveway the next time I post.
upndwn - I think we are looking for the same car! This is a 5M Aero.
I test drove it last night, and haggled for price. The haggling included trade in of my high-mileage 98 Contour SVT. I know putting $ down on lease is not a good idea, but there is value to me (in time) in killing 2 birds with one stone.
I stood firm at my car as down (ACV of ~2800) and 295/month for 36/36k. He started at 410/months and got down to 355/month, which to my calculations (and he confirmed) meant he was discouting the car over $8000 off of MSRP and offering me $3000 for the trade in.
I wouldn't move up because after I drove the car, I felt it wasn't as good as I hoped it would be. If i didn't drive a G35 a few weeks ago, I'd probably have a Saab now. But I walked away. I told him we can discuss again if he can get closer with this months financing. I may move up a little, but not much.
Well, I called the dealership before going over just to check his inventory. Unfortunately, they only have 2 left. They are both white, one man. and one auto. No way am I driving a white car.
The sales manager re-iterated there were no games. They just wanted to move these units. I told him while that is a very attractive lease, I can't drive a white car no matter how cheap the payment is. I then figured if he is willing to give out this deal, surely the 14 other Chrysler dealerships in the area are willing to deal as well.
Found the car I want online through inventory search and will be talking with internet manager tomorrow. If they can match the deal, I'm pulling the trigger.
Here is what the lease calculator breaks it down to:
MSRP: $34495 Selling Price: $30018 (invoice minus $2500 rebates) Cap Cost Red. $1995 (including dealer fee, acquisition fee, and 1st month payment) Security Deposit Waived Tag Fee $188 Adj. Cap Cost $28211 Residual Value $19317 (56%) Money Factor .00004 Term 36 months 12k/yr
04 FX 45, MSRP approx 52400, selling to me for 48k, 39 month lease, 12k miles, 29800 residual, approx 1.9%, for $646.00 month.
I didn't even haggle with them yet. THe sales manager came up and asked what he could do and I said if I like the car, I will come back. He said ok and then you can beat me up on the numbers. They really want to push these cars out. Any thoughts on what I should really be getting.
I'm still waiting for AHFC to publish the October numbers for their lease program. In the meantime, however, another dealer offered me a surprisingly good lease through Chase bank. Do you recommend people stick with a manufacturer's lease, or are leases from outside banks worth investigating. I've heard horror stories about high disposition fees on bank leases, as well as outrageous damage assessments when your car is inspected at the end of the lease. However, most of these "horror stories" came from salesmen at dealerships that don't use outside leasing companies, so I'm not sure how much faith to put in them.
Do you know if there's any truth to these stories, and what kind of reputation Chase in particular has.
Also, do you expect AHFC's October rates for the Acura TL to be better or worse than the September rates?
I am 6mos. into a 48-month lease on a 2004 Odyssey. I just saw the 2005 model, and now I don't want to wait 3 1/2 years. Is there any way I can get my lease shortened? The credit union that it is through says no, I have to buy the vehicle to get out of the lease. Any ideas? Thanks.
Hello Carman, do you have any information on the money factor and residual for an 05 RX330 FWD with Nav/Mark Lev.? Also do Lexus still have allow the mulitple depsosit to reduce the money factor? I am currently leasing an LS430 and did the 9 deposit and curious as to whether they are still allowing it. thanks.
With your selling price of 30018 (assuming your cap cost reduction doesn't include any reduction in selling price ie you only mentioned it included "dealer fee", acquis fee, and 1st month), my calculation was a pre-tax monthly payment of 299.22. Are you rolling anything else into the payment? It seems your tag fee was included in the cap cost reduction as well. Let us know. Good luck.
Brianj, while there is no rule that states that manufacturers must provide an equivalent level of lease support on balloon notes to that which they are providing on leases, they generally try to provide enough support for similar payments to be achieved through both types of programs.
The exact level of lease support often varies depending upon the exact trim level of the vehicle that one is interested in, but Honda and Subaru are providing lease support on all variants of the Accord and Legacy. The sample lease payments that you saw are published by them for one specific model just to illustrate what sort of deals are out there on these cars. Automakers usually pick an inexpensive trim level of a vehicle to advertise a sample lease payment, so that the payment is low and they attract a lot of potential buyers. You are free to use their supported lease programs lease whatever versions of these cars you want.
I know a lot of people in the industry and am usually able to find out what the lease programs should be like on vehicles that consumers are interested in. If you were to lease a 2005 Honda Accord EX-V6 through American Honda Finance Corp. right now for 36 months with 12,000 miles per year, its base lease money factor and residual value should be .00226 and 58%, respectively. I would be more than happy to give you an idea of what Subaru's current lease program is like on the 2005 Outback XT Limited 2.5T. However, its September lease program just expired on the 30th and I have not heard what its new October program is like yet. I should have an idea of what it is like in a week or so. Please feel free to post a quick reminder in this discussion for me then and I will be more than happy to fill you in on what I have been able to find out about it.
Welcome to the wonderful world of leasing, toddot. In your post I noticed that you mentioned that you are considering trading in your current truck. If you trade in your Durango and lease your next vehicle, I suggest that you have the dealer cut you a check for your trade rather than apply your trade-in allowance towards your new lease as a down payment. I always advise consumers against making any sort of down payment when leasing for two main reasons. The first is if your vehicle is totaled in an accident or stolen 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 leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your new Honda Pilot would be exactly the same, regardless of whether you had used the proceeds from your Durango trade as a down payment, or had made absolutely no down payment at all.
If the dealer that you are working with is willing to give you a trade-in allowance of $11,250 on a truck that you only owe $6,700 on, then you should be able to get them to cut you a check for around $4,500. I don't know where they came up with the $3,471 figure from. If you really want to reduce the cost of your new lease, rather than using this money as a down payment, you would be better off keeping it in the bank and using it to supplement or make your new vehicle's lease payment.
It is difficult for me to analyze the deal that you were offered on this Honda Pilot without knowing its full MSRP and selling price. These numbers enable us to figure out how much of a discount you are being given on its selling price and to work up a sample lease payment on it. If you find them out and let me know what they are, I will let you know what I think of this deal.
Hi air00max. I definitely do not think that it is a good idea for your girlfriend to put any money down on her new lease. See my previous post for my argument against making a capitalized cost reduction when leasing. I would be more than happy to work up a sample lease payment on this car that you and your girlfriend can use as a benchmark for your negotiations. However, in order for me to do so, I need you to provide me with its selling price. This is a very important number for you to know anyhow. Remember that the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price, it is difficult to tell what sort of a discount your girlfriend is receiving on it. Furthermore, it is tough to calculate a sample lease payment on a vehicle without knowing its selling price. If you find out what this number is and let me know I will be more than happy to give you my opinion of this deal.
You're very welcome, kmouradian. Chrysler Financial's current special lease money factor on the 2004 Chrysler Crossfire with an auto transmission is .00004, while its factor for '04 Crossfires with sticks is slightly higher at .00038. To be honest with you, these are both very attractive money factors. They are both equivalent to interest rates of less than 1%.
I am glad that you find this discussion so informative, phenom525. I believe that Ford Credit's current base lease rate for the 2004 Explorer XLT 4WD is 3.0%. I am not sure why the dealership that your friend leased through quoted her a slightly higher rate. While 0.5% isn't that big a deal there must be an explanation for it. Perhaps she leased this truck a while ago when a different program was available on it. Or perhaps the dealership that she leased it through marked-up Ford Credit's base lease rate on it slightly to add additional back-end profit to her deal. In any event, when you lease this truck, make sure they use a lease rate of 3.0% to calculate your payment.
The selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Work with the dealership that you are considering getting this truck from to achieve the lowest possible selling price before any cash incentives are taken into account. I suspect that you should be able to get an '04 Explorer for a few hundred dollars above invoice prior to the deduction of any incentives. Once you have arrived at an attractive price, have them deduct the $4,500 lease cash and $1,000 cash for deals through Ford Credit ($5,500 total) from your negotiated price. Getting the above lease rate and a selling price of slightly above invoice minus the cash incentives will allow you to get a very good deal on this truck. Good luck and please let me know if you have any other questions.
Hey edmunds_noob. Using the numbers that you provided in your post and Saab's base September lease program, I came up with a zero down, pre-tax monthly payment of right around $377 for this car. So even after tax is taken into account your calculations still appear to be a little off. If you do not lease this car prior to the end of September, its October numbers will be different.
Last year you helped me on my BMW 325CiC. Your knowledge and support was instrumental in putting a great lease deal together. Thank you!
Now its my Wife's turn - She really would like to lease a BMW as well. We're looking at X3/2.5's and 325XI sedans and wagons. Could you please let me know what cash incentives, MF's and residuals are out for october for these vehicles based on 15K/36M terms? Thanks David T
I'm planning to lease a 2004 or 2005 RX 330 in the near future and I'm trying to get an approximate lease price for 3 years and 12,000 miles. The MSRP would be about $42,000. Do you think that Lexus is willing to negotiate much? I would appreciate any help. Thanks, Donna
Hello again Chris. I would be more than happy to help your friend out. However, Ford's September lease program on the 2004 F-Series Pickup was continued until October 4th. As a result, I won't know what its new October program is like until the 5th or the 6th at the earliest. Please feel free to post a quick reminder in this discussion for me mid-week and I will be more than happy to fill you in on what I have been able to find out. Talk to you then.
Thanks for the additional information, salaamti. If I am interpreting the data that you posted correctly, it appears as though this truck's MSRP is $30,973.73 and that you were charged $32,167.73 for it. If this is indeed the case, then you paid over this truck's full MSRP for it. Perhaps there were some options added in there, but it still looks to me as though the selling price for this truck is too high. Remember that the selling prices of leased vehicles can be negotiated, just as if you were had paid cash for them.
Another thing that I really don't like about this deal is the down payment that you made. It appears as though this truck's high selling price was partially offset by the $2,778.96 down payment that you paid. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen 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 leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Pilot would be exactly the same, regardless of whether you had put $2,700 down, or had made absolutely no down payment at all.
Hey kmouradian. Did the dealership that you are corresponding with really send you an e-mail that said, "The do at siging is...?" I am usually not that big a stickler for grammar and let things like that slide, especially in these forums, but if I was going to lease a $30,000 vehicle I would expect a certain level of professionalism from the person who I was dealing with. Oh well .
The deal that you were quoted, $249/month with $1,995 due at lease signing for 36 months with 12,000 miles per year for a 2004 Chrysler Crossfire certainly sounds very attractive to me. As I may have mentioned in the past, I would love to know this car's full MSRP and selling price to see exactly how they arrived at this payment.
Hey Copper. Volvo supposedly introduced its new October lease program on Friday, but I have not had an opportunity to find out what it is like yet. Please feel free to post a quick reminder in this discussion for me mid-week and I will be more than happy to fill you in on what I am able to find out. Talk to you then.
Greetings mia. Here is the information that you are looking for. If you were to lease a 2004 Infiniti FX35 AWD through Infiniti Financial Services this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00179 and 55%, respectively. The numbers for an otherwise identical lease of a 2004 Infiniti FX45 should be .00173 and 57%. If you were to lease either of these models with only 12,000 miles per year, their residual values would be 1% higher. The 2005 versions of these "trucks" are not available yet, and as a result I have not seen their lease programs.
If you choose to go with the FX35, when you are negotiating its capitalized cost, keep in mind that Infiniti is providing its dealers with $500 certificates that they can use to help clear out their leftover models. Up to 3 of these certificates may be used on each FX35.
Comments
Can anyone out there comment if
this Pilot lease is a "good deal".
(Post # 13595)
Thanks in advance.
Toddot
The advertised deal that you mentioned definitely looks attractive to me. I would love to know this car's full MSRP and selling price though. These numbers would allow for a more thorough analysis of it.
Good luck in your negotiations. Let me know if you have any other questions and don't forget to stop back and let us all know how everything turns out.
Car_man
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Smart Shopper Message Board
Thanks!!
Just so I can get this straight, the 6 spd. manual Crossfires are the ones that have the MF of .00004? I thought it was the automatics. Honestly, I would rather have the manual anyway.
good lease deal:
2004 Pilot EX -cloth seats = purchase
price $28,200
3 year - 12,000 miles = payment $368/month
residual $18875
Thanks.
First off, I'd like to thank you for being a great help for us out here who doesn't know much about buying or leasing cars.
Regarding the vehicle on the subject, I was given this by All American Ford in Hackensack, NJ.
2004 EXPLORER 4-DOOR 4DR 4X4 XLT
Exterior Color: BLACK CLEARCOAT
Interior Color: GRAPHITE / LTHR SPORT BUCKET W/PWR DRVR
Engine: 4.0L SOHC V6 ENGINE
Transmission: 5-SPEED AUTOMATIC O/D TRANS
Equipment Discounts: No Charge Third Row Seat
MSRP - $35,160
A friend of mine who leased the same type/model got it for only $31800 from the same dealership with $6000 rebate, but I don't know what kind of rebate it is. Her lease rate is 3.5% and the residual value after 3 years (12K miles/yr) is $15,000. Does this sound reasonable to you? I think that this is a good deal and am hoping to get the same.
Thanks again Mr. Car_man
-Phenom525
So your deal looks a little high.
What is the MSRP of the Pilot?
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Honda's lease says -
$2259/month for 36 months
with $1999 cap. cost reduction,
$3128 total due at signing,
includes first month payment,
security deposit, cap. cost
reduction and upfront acquistion
fee. Excludes tax and license.
I hate to admit I feel clueless -
but I do! Any help is appreciated.
I just want a fair lease price!
If your upfronts are only the difference between your trade-in equity and the check you get back (under $1100?), then they are rolling your acquisition fee into the cap cost (meaning into your monthly payment..a good thing). In the advertised example, you pay it upfront.
So, as close as I can figure, you are getting just about the same deal as advertised..
MSRP = $29920
Selling price = $28200
Acq.fee = $595
Cap cost = $28795
MF = .00136 (from search of this discussion)
Residual = 63% (calculated from MSRP and your post)
Payment = $341/mo + tax.. 3yr/36K mile lease.
Don't know your tax rate, but that looks pretty close... If I back out everything to match the advertised deal, It is within $6/month.
All of this assumes that you will have to pay nothing upfront.. that it is being deducted from the check they are cutting you for your trade-in, hence the discrepancy in amount.
Your first payment (which will actually be payment #2) should be due 30 days after delivery.
Regards,
kyfdx
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2004 Saab Aero.
MSRP = $37405
Total Discounts (MSRP - Invoice + $3500 Saab incentive + $1200 dealer "coupons") = $7408
Residual 45% (3yr, 36k miles)
$0.00 down (doc, lic, 1st payment due at inception)
Monthly Depriciation Costs = $382.33/Mo (includes $599 aquisition fee)
Money Factor Payment Portion = $10.91/Mo
Illinois Tax Payment Portion = $62.65/Mo
Total $455.88
Although this is a good deal on a $37,000 car, I'm not convinced that the Saab Aero is $37,000 car. I can get this same deal on the phone with Acura TSX, without negotiating.
I will go at take a test drive tonight and see if I can get them lower. After all, tonight is end of 3rd quarter and end of the month.
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Your info was 100% correct on the money factor buy rate was at 175. I got the negotiated purchase price $500.00 lower thanks to a Race to Audi coupon that expires today. So essentially I was able to get the purchase price about $300.00 below invoice. My total drive off was a hair over $1200.00 First month and licensing. With a hair raising monthly. It's a stomach churning amount to pay a month considering I haven't had a car payment in over 4 years. But dam life is short and this car is so fun.
Thanks again for your insight!
Arc.
I was wondering if you could get me some numbers for a friend of mine at work.He is looking getting a 04 ford F350 truck.I told him in his situation he may be better of leasing.He is interested in either a 36-48 month lease.The model he is looking for is F350 standard cab 4X4 with the 6.0 litre diesel,5 speed automatic,snowplow prep package,blackside wall tires,shift on the fly 4wd,and trailer hitch.He is interested in 12K a year.Could you please provide the base money factor,and residual figures for this truck or one similar?Thanks in advance.
Chris
I have not yet confirmed if this is the MSRP, the NET CAP COST, or the MSPR minus any discounts, OR the MSRP minus any discounts EXCEPT for lease incentives. THe Saab salesman told me that it would be the latter, but he also (initially) told me the residual value of the 2004 aero is 50%.
Also, I was told that in Illinois, if I decice to buy the car at the end of the lease, they require you to pay sales tax on that portion again.
Maybe I just need to move. I don't think the Saab lease is a good deal anymore. I'm going to go there tonight and lowball them anyway.
Part of my thinking is that the 9-3 has been subsidized for leasing with cash and good money factors since the model line was revised. Saabs do not have good residual values compared to other near luxury cars. I was quoted 44% on a 2004, realizing that the model year is over. So, I thought that the increased residual in a 2005 may offset a reduction in the cash discount. I hope so, because I want a manual transmission and there seem to be very few standard 2004s around.
Good luck.
Here is the information that I got from the lease paper:
Value of Vehicle: $30973.73
Gross Capitalized Cost: $32167.73
Capitalized Cost Reduction: $2778.96
Adjusted Capitalized Cost: 29388.77
Residual Value: 19691.00
Capitalized Cost Reduction: $2778.96
Sales/Tax on Amount Paid : $243.16
Advance Monthly Payment : $370.88
Initial Title Fees : $277.00
CaTire Fee : $5.00
Total Drive Off : $3675.00
Monthly Payment : $370.88
Total Payment at the end of lease: $16655.00
Hope this information is sufficient to describe, whether I got the good deal or I got ripped off.
Thanks.
Here is what the dealership emailed me:
"Thank you for your e-mail on a new Crossfire. The information is pretty simple. The deal is just an outstanding one for you the customer. The do at siging is $1995.00 plus sales tax on rebate and the tag fee of 188.00. Dealer fee is included as well the first payment.The acquisition fee is already figured in to the deal.There is no security deposit required on this deal. The numbers are all in your favor."
Even though I am still skeptical, it looks like I am going to contact the dealership and see how things go.
What do you think?
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Did the Volvo #'s come out yet? Or are they coming out on Monday?
If you have them, please post #'s for 36/12K for a 2005 xc90 T6 and 2.5T.
Thanks,
Copper
Would you kindly post the Oct. lease rates & residuals on the '04 AND '05 Infiniti FX35/45?
I'm particularly interested in 36/12K and 36/15k
Are there any more incentives to the dealer or customer on the leftover '04 model?
Thank you so much....
$1995 out of pocket and only $249/mo.?
If I was in the market, that would be in my driveway already. That is as cheap as a 4-cylinder Accord.
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With any luck, the car will be sitting in my driveway the next time I post.
MSRP: $60,145
Selling Price: $58,235
2005 X5 4.4
36 mos./12K miles/yr.
$874.61/month
$1499.61 due at signing (security waived) 2.75% money factor 60% residual ($36087.00)
This doesn't sound like too good a deal, espically when they are making over 3k on the car!
Any help out there on this???
I test drove it last night, and haggled for price. The haggling included trade in of my high-mileage 98 Contour SVT. I know putting $ down on lease is not a good idea, but there is value to me (in time) in killing 2 birds with one stone.
I stood firm at my car as down (ACV of ~2800) and 295/month for 36/36k. He started at 410/months and got down to 355/month, which to my calculations (and he confirmed) meant he was discouting the car over $8000 off of MSRP and offering me $3000 for the trade in.
I wouldn't move up because after I drove the car, I felt it wasn't as good as I hoped it would be. If i didn't drive a G35 a few weeks ago, I'd probably have a Saab now. But I walked away. I told him we can discuss again if he can get closer with this months financing. I may move up a little, but not much.
The sales manager re-iterated there were no games. They just wanted to move these units. I told him while that is a very attractive lease, I can't drive a white car no matter how cheap the payment is. I then figured if he is willing to give out this deal, surely the 14 other Chrysler dealerships in the area are willing to deal as well.
Found the car I want online through inventory search and will be talking with internet manager tomorrow. If they can match the deal, I'm pulling the trigger.
Here is what the lease calculator breaks it down to:
MSRP: $34495
Selling Price: $30018 (invoice minus $2500 rebates)
Cap Cost Red. $1995 (including dealer fee, acquisition fee, and 1st month payment)
Security Deposit Waived
Tag Fee $188
Adj. Cap Cost $28211
Residual Value $19317 (56%)
Money Factor .00004
Term 36 months 12k/yr
Monthly Payment: $248.96 plus tax.
Did I calculate this correctly?
I didn't even haggle with them yet. THe sales manager came up and asked what he could do and I said if I like the car, I will come back. He said ok and then you can beat me up on the numbers. They really want to push these cars out. Any thoughts on what I should really be getting.
I'm still waiting for AHFC to publish the October numbers for their lease program. In the meantime, however, another dealer offered me a surprisingly good lease through Chase bank. Do you recommend people stick with a manufacturer's lease, or are leases from outside banks worth investigating. I've heard horror stories about high disposition fees on bank leases, as well as outrageous damage assessments when your car is inspected at the end of the lease. However, most of these "horror stories" came from salesmen at dealerships that don't use outside leasing companies, so I'm not sure how much faith to put in them.
Do you know if there's any truth to these stories, and what kind of reputation Chase in particular has.
Also, do you expect AHFC's October rates for the Acura TL to be better or worse than the September rates?
Thanks!
I just saw the 2005 model, and now I don't want to wait 3 1/2 years. Is there any way I can get my lease shortened? The credit union that it is through says no, I have to buy the vehicle to get out of the lease. Any ideas? Thanks.
With your selling price of 30018 (assuming your cap cost reduction doesn't include any reduction in selling price ie you only mentioned it included "dealer fee", acquis fee, and 1st month), my calculation was a pre-tax monthly payment of 299.22. Are you rolling anything else into the payment? It seems your tag fee was included in the cap cost reduction as well. Let us know. Good luck.
The exact level of lease support often varies depending upon the exact trim level of the vehicle that one is interested in, but Honda and Subaru are providing lease support on all variants of the Accord and Legacy. The sample lease payments that you saw are published by them for one specific model just to illustrate what sort of deals are out there on these cars. Automakers usually pick an inexpensive trim level of a vehicle to advertise a sample lease payment, so that the payment is low and they attract a lot of potential buyers. You are free to use their supported lease programs lease whatever versions of these cars you want.
I know a lot of people in the industry and am usually able to find out what the lease programs should be like on vehicles that consumers are interested in. If you were to lease a 2005 Honda Accord EX-V6 through American Honda Finance Corp. right now for 36 months with 12,000 miles per year, its base lease money factor and residual value should be .00226 and 58%, respectively. I would be more than happy to give you an idea of what Subaru's current lease program is like on the 2005 Outback XT Limited 2.5T. However, its September lease program just expired on the 30th and I have not heard what its new October program is like yet. I should have an idea of what it is like in a week or so. Please feel free to post a quick reminder in this discussion for me then and I will be more than happy to fill you in on what I have been able to find out about it.
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when leasing for two main reasons. The first is if your vehicle is totaled in an accident or stolen 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 leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your new Honda Pilot would be exactly the same, regardless of whether you had used the proceeds from your Durango trade as a down payment, or had made absolutely no down payment at all.
If the dealer that you are working with is willing to give you a trade-in allowance of $11,250 on a truck that you only owe $6,700 on, then you should be able to get them to cut you a check for around $4,500. I don't know where they came up with the $3,471 figure from. If you really want to reduce the cost of your new lease, rather than using this money as a down payment, you would be better off keeping it in the bank and using it to supplement or make your new vehicle's lease payment.
It is difficult for me to analyze the deal that you were offered on this Honda Pilot without knowing its full MSRP and selling price. These numbers enable us to figure out how much of a discount you are being given on its selling price and to work up a sample lease payment on it. If you find them out and let me know what they are, I will let you know what I think of this deal.
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The selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Work with the dealership that you are considering getting this truck from to achieve the lowest possible selling price before any cash incentives are taken into account. I suspect that you should be able to get an '04 Explorer for a few hundred dollars above invoice prior to the deduction of any incentives. Once you have arrived at an attractive price, have them deduct the $4,500 lease cash and $1,000 cash for deals through Ford Credit ($5,500 total) from your negotiated price. Getting the above lease rate and a selling price of slightly above invoice minus the cash incentives will allow you to get a very good deal on this truck. Good luck and please let me know if you have any other questions.
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When you get a chance, could you provide me the mf and residual numbers on a '05 Escape Limited AWD? I appreciate it.
Last year you helped me on my BMW 325CiC. Your knowledge and support was instrumental in putting a great lease deal together. Thank you!
Now its my Wife's turn - She really would like to lease a BMW as well. We're looking at X3/2.5's and 325XI sedans and wagons. Could you please let me know what cash incentives, MF's and residuals are out for october for these vehicles based on 15K/36M terms?
Thanks
David T
Thanks,
Donna
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Another thing that I really don't like about this deal is the down payment that you made. It appears as though this truck's high selling price was partially offset by the $2,778.96 down payment that you paid. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen 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 leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Pilot would be exactly the same, regardless of whether you had put $2,700 down, or had made absolutely no down payment at all.
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The deal that you were quoted, $249/month with $1,995 due at lease signing for 36 months with 12,000 miles per year for a 2004 Chrysler Crossfire certainly sounds very attractive to me. As I may have mentioned in the past, I would love to know this car's full MSRP and selling price to see exactly how they arrived at this payment.
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If you choose to go with the FX35, when you are negotiating its capitalized cost, keep in mind that Infiniti is providing its dealers with $500 certificates that they can use to help clear out their leftover models. Up to 3 of these certificates may be used on each FX35.
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