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  • slockoslocko Member Posts: 111
    I can tell you the residuals on the Touring with Navigation:

    .56 for 36 months/15k miles, base factor is .00260. If you pay a deposit it drops to .00250

    .58 residual for 36 months/12k miles, same base factor.

    It seems the more gadgets a car has, the less the residual. I guess the logic is that someone looking for used Honda is not going to care that is has navigation and that it's a touring.

    On the other hand, it seems that the Acura has higher residuals and with the new Touring Odyssey, the ride is very comparable.

    I am about to look into leasing a 2005 MDX Touring and I think the payments are going to be almost the same because the residual is higher and the money factor is lower, despite that the MDX is like 6k more.
  • freshwaterfreshwater Member Posts: 92
    I Leased a 2004 Maxima SL for $440/month including TAX, title, etc... The base price they put was $29300. The Tax I paid was ~$1900. 12/39 leased. The residual value they put in was around $17170. Now when my leased expires and If I want to buy the Car do I need to pay any Taxes on it ?
    Somebody told me I need to pay taxes on the resudial price I already paid taxes on the Base price so why I need to pay tax again on the residual price.

    Thanks.
  • dv8tordv8tor Member Posts: 23
    Thank you slocko and car_man for the information! I'm sure this will help me in determining if the lease agreement I am presented with is fair. Wish me luck!
  • njlnjl Member Posts: 32
    w/ Option package HE.
    From Dealer:
    MSRP $39,956

    36 Mth, 15K/year $1K inception, $699/year

    Dealer says that they won't budge from MSRP. Why can't you get a reasonable lease on a minivan in central NJ?
  • njlnjl Member Posts: 32
    Let me add..

    with MF of .00225 and 57% residual (thank you Car_man), the maximum payment should be $655.50.

    Are they hosing me on the MF too?
  • stacinanstacinan Member Posts: 1
    Hi,
    Carsdirect shows that I should be able to get an 04 passat wagon gl for 18,448. The MSRP is 23,355. Can I base my lease off of the lower price? Do you know what a payment would look like for 48/12k?
    Thanks
  • ubrsfubrsf Member Posts: 51
    Dear Car_man,

    First off, thank you for all the helpful information you provide for this board. A quick question for you; I am looking at leasing and Land Rover LR3, would you know approximately what the residual and money factor is that Land Rover is currently advertising for this vehicle? I would appreciate your input. Thank you in advance.
  • hpoohhhpoohh Member Posts: 35
    Thank you so much, yes, the residual from BMW is really high coz even my 03 4runner's residual is 56% for 36mo 15k/yr, not to mention that BMW is a german car. I will go check out the 325i and Z4 tomorrow.
  • hpoohhhpoohh Member Posts: 35
    there is VW dealer across the street from my work, so i just gone check out the GLI, the lot is packed w/ tons of GLI (more than 10 of them). Seems like people is waiting for the 05 model due next Jan. Let me get approval from my wife for the stick shift and i will give it a shot next week
  • topgun7topgun7 Member Posts: 412
    They basically do the calculation of your lease payment based on the lower money factor (if you choose to do 5 payment, they will take the monay factor they offer you and subtract 0.0005 from it) and then you multiple it by the number of payment you are putting in deposit. When we leased our SC, the monthly payment come out to about 830 or so+tax and our 9 deposit come out to about 76xx or so. But our monthly saving (including sales tax) come out to about 105 or so a month (without the mulitple deposit, our lease would had been 930 to 940 + tax). So it is about 16 to 17% guaranteed return per year for your deposit. Don't have any investment idea better than this.

    Anyway, after you return the car or pay off the lease (e.g if you trade in your car), Lexus financial will send a check back directly to you. By the way, Volve had the best deal, each deposit they used to let you lower the money factor by 0.00015 and BMW 0.0001 but I lose track of how many deposit that they let you do and whether they continue it... By the way, some of the lexus finance manager that we talked to don't know it either and they have to contact Lexus financial to confirm it. We did it with our SC and LS (both are gone now and we are in the process of getting our deposit back for the LS). Good luck on your lease.. By the way what Car_man said about putting the minimum down payment for a lease is definitely true. Lexus and Honda (our kid is leasing an Accord) both offer free gap insurance (if you have a car accident and the insurance is not enough to cover the payoff on the lease, they will just take your insurance check and call it a day). If you have a lot of down payment, Lexus will come out ahead in this situation (since your payoff is lower by the downpayment, the insurance check may be able to cover the payoff) but you will not see your down payment back..
  • ponytrekkerponytrekker Member Posts: 314
    chew them down or buy it in a year.
  • soldamericansoldamerican Member Posts: 2
    IF you are looking at the Audi S4, TT and A4 your best lease is going to be on the TT or A4, 2004 if you can get it. Leasing on the 2005 Audis are not attractive right now since the newer models have just arrived.

    I think people on here are little to paranoid about money factors. Go to Edmunds.com, print out what it says, go to a dealership. Edmunds doesn't take into account there are ad fees and the PDI process. This should run you about $300 more than the "what others are paying."

    Plus, Audi has alot of TTs on the ground right now. you just have to be flewable about what you are looking for. Also, if you are dealing with a vehicle on the lot you can always get a better deal. Hardto get a dealer to hire someone to get your dream car when you are paying invoice with no dealer cash.
  • dv8tordv8tor Member Posts: 23
    Can you negotiate with the dealer to waive the security deposit on a lease?
  • markm124markm124 Member Posts: 19
    Hi Car_man.
    Could you please give me the residual and MF on the 2005 Subaru Forester XS (LL Bean). Interested in 36 months / 12 or 15,000 miles per year. Also, have you heard about an $850. rebate and $850. dealer incentive (neither mentioned on Edmunds). I am in MA. Thanks.
  • kyfdxkyfdx Moderator Posts: 265,441
    It really isn't "negotiable". It is either required by the bank or it isn't.

    Some banks will waive the security deposit for an increase in the money factor.. Usually .00015

    It is usually more cost efficient to make the security deposit.

    regards,
    kyfdx

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  • redwood1redwood1 Member Posts: 8
    Hi
    I am looking into leasing an 2004 Infiniti FX35. I spoke to the dealership - The car invoices at 41,570 and the price is 39060.84; I know I can get the dealer to come down in the price, but the money factor seems high. The money factor is .00249 and the residual is .55. Do you know what the money factor and residual approximately should be?

    Thanks for your help.
  • kiwkiw Member Posts: 2
    Can anyone help me with a leasing question for a VW Touareg? I went to the dealership and we agreed on a 48 month/15K lease with no money down and sales tax would be "waived" (well they said I still had to pay $500.00...I guess VW is promoting a special). The cost was agreed upon to be $40,939 with a .9% APR and a residual of .42. I didn't do the math in my head at the dealership (I still have 48hrs to change my mind) so I took the MF at face value but when I had some time, I did a calculation and the .9%did not equal .00145...I came out with .0038. Is this correct? Using the .00145 the monthly payments equal $580.52 but using the .0038 it came to $484.64. This creates a disparity of over $4,000. Did I miss something?

    Any help would be greatly appreciated!
  • pktrcktpktrckt Member Posts: 9
    After months of shopping, pricing, etc we finally leased a car. We leased a 2005 Subaru Outback XT Limited 5 Speed manual. The final push came as our lease on our 2002 WRX was up in 8 days and a letter from Subaru offering us a trade-in value $1160 higher than the lease buyout price. They also included $500 of Subaru Dollars that can be used for future service.

    Details of the lease:

    3 Year / 15,000mi
    MSRP: 32177
    Purchase Price: 30060
    Invoice (according to their fleet purchase sheet): 29660
    Invoice (according to Edmunds): 29461
    Residual (56%): 18019
    Money Factor : .00150
    Cap Cost reduction: 950
    Acquisition Fee: 595
    California Fees
    Initial Title: 45
    Registration: 252
    Sales/Use tax: 74
    Tire Fee: 8

    Drive off payment: 595

    Monthly Payment(incl tax): $426

    They were clearly flustered by someone that understood leases as the sales guy was completely lost and needed several trips to get the numbers right. In the end I couldn't get them to understand how much I wanted to pay in drive off fees, thus the odd breakdown above. Overall there were better deals to be had, especially with the Legacy GT Wagon but this was a vehicle we both could agree on.

    Thanks to everyone, especially Car_man for all the assistance and information. This board was an incredibly valuable tool in our search and shopping.
  • eagwheelseagwheels Member Posts: 7
    When calculating a lease in NY should the $515 destination charge or any part of the $1095 AHFC charges be included in the MSRP? Or should both these amounts be included in the Cap cost assuming I choose to roll the AHFC & destination charges into the lease payments?
    I received quotes on leasing a 2005 Pilot EXL. MSRP 32,635 Cap cost 32,230 inc acq fee (which I was told is $1500 off MSRP)
    When I look at the TMV price for my zip code and color preference it is $32,203. Is my comparable figure $31,135?

    Appreciate Your assistance
  • st7st7 Member Posts: 12
    Car_Man,
    My local BMW dealer is telling me that their cost on a 2004 Z4 is about $700 greater than what is posted in Edmunds for invoice. This difference is largely due to something they call Marketing assistance (MOC for short) that BMW is charging to the dealer, and that this is norm for all cars. Is this accurate? If so, why is this information not included in the invoice cost information in the Edmunds Pricing section?
    Also, what should the money factor be on the 2004 Z4? My dealer quoted me .00255 (equates to 6.12% apr), which seems really high to me.
  • gregm3gregm3 Member Posts: 11
    Car_Man

    Thanks for the great job you do and the very good information you give. I have a question on a lease for a 2004 Mazda RX-8. For various reasons I was interested in a 12 mo. lease. Is that possible with Mazda? I get the impression that good deals can be had now on the 2004 RX-8. Do you know what the MF and residual would be on a 12 mo. lease, assuming it is possible? Thanks in advance.
  • newsquirtnewsquirt Member Posts: 1
    Hello there,

    Ive recently done something Im not sure was a good idea. I went and bought a 2003 used Chevy Tahoe, which I still have a couple days left to take back for any reason. I financed this so this is not my question. I was trying to get out of a lease on my Jeep Cherokee Sport which is due in Jun05. Anyways, the remaining $3000 left on the lease payments were put into the cost of the tahoe. So what I was wondering is if you think I will be tagged by some unknown charges, when I pay off remaining payments for the Jeep and try to take it back in? The Jeep is in great condition with no major dents or dings and no broken glass. Some wear on the seats but not that bad. I just replaced the tires on the front but the back tires are not bad, but could use new tires as well. Im really curious as to what happens when you try and just walk away after you have paid up all your lease payments? The residual is around 10,000 I believe. It was a 6 yr lease and payments are around $385 a month. Wondering if I was right to assume that the Chevy dealership was good on giving my the $3000 to put towards my Jeep and take it back with no additional cost to me? Am I being nieve? Thanks so much for comments!
  • hpoohhhpoohh Member Posts: 35
    Dear Car_man,

    There is a YES on a stick shift car from my wife. And due to financial concern, i think i am gonna stick w/ the Jetta GLI and the RSX Type-S.

    The Question is, in the Edmunds Incentives & Rebates section, it shows that the RSX Type-S has a lease program of $2573 due at lease signing and $229+tax for 36mo 12k/yr. May i know the money factor and residual for this program?

    I will check out the insurance premium between the two to make the final decision.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Tdevane, Maryland is in Toyota's Central Atlantic region. I am not aware of any lease support being offered on the 2004 Toyota 4Runner in that region at this time. So, if you were to lease one through Toyota Financial Services right now, you would have to use its standard lease program. The last time that I saw it, TFS' base standard money factor was are around .00225.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey eclipse2. I am not surprised that your dealer is not willing to discount the new 2005 Acura RL very much. Most new or redesigned vehicles that are well received by the public, which I believe the new RL with AWD will be, are not discounted much by dealers. To be honest with you, I am surprised that you were even able to negotiate $1,000 off. Many dealers have waiting lists for this car and I am sure that most of the consumers on these lists are paying fairly close to full MSRP.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello alex123. I would be more than happy to try to give you an idea of what the lease programs for the cars that you are interested in are currently like. However, in order for me to do so, I need some additional information from your first, including how long you want to lease them for and how many miles per year you need to be able to drive them. Also, these vehicles' lease programs vary by trim level. As a result, I also need to know the exact models that you are considering, i.e. a 2005 Audi A4 1.8T sedan with quattro, a 2004 TT 1.8T coupe, etc...

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, dv8tor. Let us know if you have any other questions.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey njl. You definitely need to shop around a little bit. I am not intimately familiar with what Siennas are going for in your neck of the woods, but I know that the days of the Sienna getting full MSRP are long over. When it was first redesigned some dealers were probably getting that much for it, but with all the competition in the minivan segment, especially from the all new Honda Odyssey, you shouldn't have much trouble negotiating a discount on an '05 Sienna with some dealer in your area.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings stacinan. The selling prices of leased vehicles can and should be negotiated. You should be able to get a 2004 Passat Wagon for a couple hundred dollars over invoice minus any available cash incentives. Volkswagen is currently providing $3,500 dealer cash on the 2004 Passat Wagon GL 1.8T. I am not sure if the selling price that you were quoted, $18,448 is $3,000 under this wagon's invoice but that is what your target selling price should be. Using a full MSRP of $23,355 and a selling price of $18,448, I estimate that if you were to lease this model through VW Credit for 4 years with 12,000 miles per, your zero down, pre-tax monthly payment should be around $248 or so.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, ubrsf. Thank you for noticing :). It will be interesting to see how well Land Rover does with the LR3. It is a very nice vehicle, but it is much more expensive than the Discovery that it is sort of replacing. I suspect that Land Rover will eventually have to provide quite a bit of lease support on it. Its exact money factor and residual value varies by trim level. If you let me know how long you want to lease this truck for, how many miles per year you need to be able to drive it, and which trim level you are interested in, i.e. an '05 LR3 HSE, LR3 SE, etc... I will try to give you an idea of what its lease program should be like.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, hpoohh. Let me know if you have any other questions.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I have to disagree with your statement about it being much more expensive to lease 2005 Audis right now to a degree, soldamerican. Audi is providing a ton of lease support on 2005's, especially on the '05 A4s in October. While Audi did reintroduce a little dealer cash on '04 models and dealers will be a little more willing to negotiate on them, Audi Financial Services' money factors are much lower and residual values are higher on the 2005 A4 right now. Combine this with the fact dealers should be quite willing to negotiate on 2005 A4's right now with the all new A4 being introduced mid-way through the 2005 model year and one should be able to get a heck of a deal on an '05 A4.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dv8tor. Lease security deposits are required by most banks that lease vehicles. Some banks will waive their security deposit requirement on select models from time to time or for loyal customers. Others will waive their security deposit requirement in exchange for a slight increase in the money factor that is used to calculate your lease payment. Individual dealers do not have the authority to waive this charge so trying to negotiate it out of your deal won't do much good.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello markm124. According to the latest information that I have seen, if you were to lease a 2005 Subaru Forester 2.5 XS L.L. Bean through its captive finance company right now for 3 years with 15,000 miles per, its base lease money factor and residual value should be around .00150 and 52%, respectively. The factor for an otherwise identical lease with only 12,000 miles per year would be the same, but the residual value would increase to 53%.

    I believe that Subaru is providing $850 customer cash on this model in your area right now, but this cash can not be used in conjunction with the aforementioned lease program. Subaru is providing $1,500 lease cash on the '05 Forester X. This is the only cash incentive that can be used on leases of the Forester through Subaru's captive finance company.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi redwood1. The money factor that you were quoted to lease this model is a little on the high side. If you were to lease a 2004 Infiniti FX35 AWD through Infiniti Financial Services right now for 3 years with 15,000 miles per, its base lease money factor and residual value should be around .00179 and 55%, respectively.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Volkswagen is providing some very low money factors on the 2004 Touareg right now, kiw. Its current 3 year base lease money factor for an '04 Touareg V6 is .00027. This is equivalent to an interest rate of right around 0.65%. I am not sure where you got the money factor of .00145 from. Perhaps you are looking at an old post about this truck. VW publishes a new lease program that often has very different money factors on a monthly basis.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your new ride, pktrckt! Thanks for taking the time to come back and let us all know how everything turned out. Enjoy.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi eagwheels. When negotiating a lease payment, the destination charge is considered to be a part of vehicles' MSRPs but acquisition fees are not. If you choose not to pay your vehicle's acquisition fee out of pocket at lease signing, you should be able to roll this charge into its capitalized cost. After backing out the AHFC's lease acquisition fee for residents of New York, $1,095, a capitalized cost of $32,230 is indeed equivalent to a selling price of $31,135.

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  • 64221306422130 Member Posts: 47
    Hi I was wondering what the money factor and residual are for a Pilot EX-L RES for both 36 and 48 months with 15K. Also, if you ahave any comparable 2005 info, would be much appreciated.

    Thanks!!!
  • njlnjl Member Posts: 32
    Car_Man...do you have the MF and residual for the 2005 Chrysler Town and Country Limited minivan? NJ, 15K/year, 36 month.

    Thanks
  • alex123alex123 Member Posts: 36
    Car_man, i am considering all 2005's 36 month 10-12000 miles A41.8T Quattro, S4 Sedan Tiptronic, TT 3.2 Coupe. I' am pretty much flexible if some other term has a lower money factor ( for example 39 month better then 36 )
  • bpd196bpd196 Member Posts: 9
    I'm looking into leasing a 04 murano sl with touring pkg. On the Nissan site they are running a lease special for $349 for 42 months. But the cap cost is Sticker $35,000, then 1999 down and 2100 dealer discount. Can I negotiate a better deal Starting with invoice. And edmunds is only advertising a $1000 rebate not 2100.

    Thanks
    chris -nj
  • bpd196bpd196 Member Posts: 9
    For 04 murano sl awd touring package,42 months 12k
    thanks
  • corvettecorvette Member Posts: 11,270
    Quickest/best way to build your credit is to open a credit card account or two, pay them off every month, and keep them open. Having someone with a good credit history cosign can drop the money factor, or get them to ignore your income and look at the cosigner's income instead. There are a handful of legitimate consumer credit forums on the net, and more than a handful of illegitimate sites promising a quick fix...
  • eclipse2eclipse2 Member Posts: 64
    Thanks car man!!! my wife has a 2003 tl type s and we have been in the acura famliy for about 10 years. I would love to get the car but I want a good deal on a lease. the dealer said the Residual will be 58% $29,000 on a 42 month lease is this good or sould I wait for the car to be out for awhile longer? he has 5 left and more coming next month. oh and 15K miles a year.
  • ubrsfubrsf Member Posts: 51
    Since I still don't trust Land Rover's quality, and reliability, even though this is a whole new beast, I need to lease this truck. I would like to try a 36 month lease with 12K and/or 15K miles a year, I am interested in the HSE trim level. Thank you for your help.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi st7. It is difficult to say why your dealer claims that the dealer invoice price of the car that you are interested in is higher than the price that is listed for it here at Edmunds.com. It sounds as though this dealer is adding in some sort of advertising fee that BMW is charging them to the vehicle's price. It really doesn't matter what sort of fees this dealer tries to tack onto the price of this car as long as you focus on its out-the-door price. If I was in the market for a 2004 BMW Z4, I would look up its invoice price, subtract the dealer cash that is available on it ($5,000 on the '04 Z4 2.5 and $6,500 on the '04 Z4 3.0), and then add around $500 or so to that price. Offer this before tax out-the-door price to the dealer that you are working with without going into great detail as to how you arrived at it. If they accept it, great. If not, I am sure that there are BMW dealers out there that will gladly take $500 or so over invoice for a leftover convertible as winter approaches.

    Since BMW is providing so much dealer cash on this car, its money factor is relatively high. BMW Financial Services' base lease money factor for the 2004 Z4 is currently .00235 for leases of up to 42 months in length. The only reasons why this factor would be higher are if you were to have your car's security deposit or lease acquisition fee waived.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, gregm3. The shortest lease that I have ever seen through Mazda's captive finance company is 2 years. I am not positive, but I do not believe that it offers 12 month leases. If you find out otherwise, please let me know.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi newsquirt. Many banks do not want to take leased vehicles back from consumers early, even if they agree to pay all of their remaining payments in advance. The only way to know for certain if the bank that you are leasing your Jeep Cherokee through will take it back and how much money it will cost you to turn it in at this time is to place a call to the bank that you are leasing it through.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    The old manual transmission, alas good friend, I knew ye well. I had a streak of three consecutive cars with sticks before I got married. I taught my wife how to drive a stick and she was very good at it, but she says that driving them makes her nervous so I'm back in automatic land again.

    Acura has a pretty attractive lease program available on the 2005 RSX right now. Its current base lease money factor and residual value for a 3 year, 12,000 miles per lease of a 2005 RSX Type S are .00057 and 59%, respectively.

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