Lease Questions - Ask Here

CarMan@Edmunds

Congratulations on your new truck, hcombs. Thanks for taking the time to come back and let us all know how everything turned out. Enjoy!

 

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CarMan@Edmunds

Apothny, the fact that you plan on purchasing your current leased car from the bank that you are leasing it through will have no impact upon your ability to negotiate an attractive lease on your next new Saab. While the dealer that you turn your current leased car in at will probably have the option to purchase it from Saab Financial Services Corp., or whichever bank you are leasing it through, lease returns and subsequent new vehicle purchases are usually treated as completely separate transactions. The only exception to this is in cases where leased vehicles are clearly worth more money than it would cost to purchase them from the bank that they are being leased through. There definitely is no guarantee that your current leased car will be worth more than its residual value. Saabs usually are not, even ones that have low mileage. So in reality, even if you were to turn your car into the dealer that you plan on getting your next one from and they can purchase it from the bank at your lease-end purchase option price, there is no guarantee that it would be able to make a significant amount of money off of it.

 

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CarMan@Edmunds

Hi Joel. Mazda definitely has a lot more support on the 2004 RX-8 than it has on the 2005 model. The only incentive that I am aware of on the '05 RX-8 at this time is $1,000 for vehicles leased through Mazda's captive finance company for 24 to 30 months. Unfortunately, that is really all I can tell you about this car's lease program because I have not seen any lease money factors or residual values for this model lately. I suspect that Mazda will introduce much higher cash incentives on the '05 RX-8 later on in the model year.

 

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CarMan@Edmunds

Don't worry about it, njl. OK, if you were to lease a 2005 Cadillac DeVille through General Motors Acceptance Corp. right now for 3 years with 15,000 miles per, its base lease rate and residual value should be 3.5% and 46%, respectively. The numbers for an otherwise identical lease of a 2005 Cadillac DeVille DTS should be 3.5% and 48%. As you can see, GMAC publishes what are known as lease rates for the vehicles that it leases instead of the lease money factors that most other banks publish. You can convert its lease rates into approximate money factor equivalents by dividing them by 2400. When negotiating your lease on whichever one of these cars you ultimately decide to go with, keep in mind that GM is providing $4,500 lease cash on the 2005 DeVille and $3,750 on the DTS. This money will help you to negotiate an attractive capitalized cost.

 

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CarMan@Edmunds

Hey hpowders. According to the latest information that I have seen, if you were to lease a 2005 Acura MDX Touring without navigation or the rear entertainment center through AHFC right now for for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00210 and 62%, respectively.

 

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CarMan@Edmunds

You're welcome, gmeow. $1,000 over invoice sounds reasonable to me as well for a 2005 C240 4Matic Sedan right now. Let's run a sample lease payment on this car just to double check the numbers. According to my calculations, if you were to lease a 2005 Mercedes-Benz C240 4Matic Sedan with an MSRP of $37,460 and a selling price of $35,500 through Mercedes-Benz Credit Corp. right now for 39 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $454. If you were to make a $3,800 capitalized cost reduction (I still think that you would be better off using this money to supplement your monthly payment or to buy down your car's money factor by making additional security deposits) it would drop the monthly payment to around $350.

 

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lanks

sorry the reason for this is because previously i had not added leather interior so that is the new selling price

lanks

ha one more thing that would also mean the new msrp is 22,150. sorry for the mix-up

chubby4

I put down a deposit on a lease, but I've since realized that the dealer's math on the payment amount is incorrect. Do I still have recourse to get that to the right payment amount or am I stuck because I put down a deposit? Thanks.

steine13

Car-man,

Me, too, please!

 

2005 Pontiac Vibe base wagon, 24 or 36 months, 12k per year.

 

MF and residual, please indicate if 5sp/auto makes a difference.

 

Thanks in advance,

-Mathias

njl

Car_man..

 

If I divide 3.5%/2400, that yields a MF of ~.000015. If I use this number in the lease calculator, the MF portion of the payment is ~$1.

 

The actual lease number calculates correctly, but the MF portion is a little out of whack. What am I doing wrong?

lwhite

Car_Man

 

Haven't seen this one posted recently. Can you provide SmartBuy info on the following truck? I would like to see how the Suburban compares in lease value with other models you have posted info on.

 

2005 Chevy Suburban Z71

10k/36 (but I bet chevy doesn't have a 10K program- if so then 12k)

MSRP $53,020.00

Invoice $47,114.00

Zero down

Fees/ tax up front

NYC registration (I know what everyone is probably thinking, but I have free parking, a pregnant wife and only use a vehicle for road trips.)

 

Chevy has tons of incentive cash out there(as always), but unsure of what can and can't be applied to a SmartBuy. There are enough Chevy dealers around NYC/ NJ that I feel one would give me $1000 under invoice(hold back is $1500) + available incentive cash near the end of the year. Does this sound realistic for an expensive Chevy that isn't a Corvette?

 

Again, thanks for your help

kyfdx

njl..

 

3.5/2400 = .00146

hpowders

Thanks very much for your help Car_man as always.

gold233790

Carman-

 

Well, you've really helped my sister and I negotiate excellent deals for our vehicles. She's in a new TL, while I am about ready to pounce on a 530i. This has led to another (hopefully final- can't these people do their own homework!!???) request-

 

I need the MF and residual for 36 or 39 month and 15k per for MB E320 4-matic. Thanks!

lycanthris

I have posted before about MF and residual for a 2005 G35 sedan. I have a new question. The MF currently available doesn't seem to be at a discount and most dealers wont sell much below MSRP. What are the chances this will go down in the coming month or two as the 04's are gone and dealers need to start selling the 05's?

cdb

Carman,

 

Can you please give me the residuals and money factors for the 2005 Yukon XL and Yukon Denali XL? I was interested in a 36 or 42 month lease with 12K miles a year.

 

Also, what's your opinion on adding the extra 6 months to a lease to get a cheaper payment?

 

Thanks.

 

CB

mathewsommers

Car_man,

 

I am in Ohio, thanks for your help.

 

-Matt

halebop

i still have time on my lease but i already know turning the car in will not be an option. i'm WAY WAY over on mileage. my buy out at the end is $6K. it's a toyota corolla. i've heard it may be possible to buy it for less but i don't know how people make that happen. i'm trying to learn now so i get the best deal i can. any tips on when to start the process and what to try in order to buy the car for less than $6K?

st7

Car_Man,

Appreciate the information. That money factor on the SLK350 is staggering! Anyway, can you also provide the residual values for these two cars at 12,000 miles per year ?

mss1

Thanks Car_Man. I've started soliciting dealers in the area (I'm in New England) and am amazed at the differences in quotes that I'm getting. Monthly payments varying by $30 or more for the same car, with similar cash due at signing. Do you think that I should try and play them off each other and get them into a bidding war, or just make them an offer that I think is fair (after running the numbers) and tell them that if they accept, I'm in there the next day signing the paperwork?

Thanks.

corvette

Wait until close to the lease end (3 months or so) and call Toyota Financial Services (or whoever carries the lease). Tell them you are interested in purchasing the car, and ask if the purchase price is negotiable. Some do, some don't (I don't know about Toyota).

 

Even if they won't negotiate, let's say you would incur $5000 in excess mileage charges were you to turn the car in (but the car is worth less than $6000). If you buy the car for $6000, you could sell it at fair market value (say $4000) and recoup some of your costs. Or you may determine that it is worth more than $4000 as transportation and keep it.

corvette

Depends on how far apart their offers are from what you consider fair. Don't put any money down besides the security deposit and the first month's payment.

mtgman

Car Man,

I am really close to pulling the trigger on a 2004 Saab 9-5 Aero on a lease - 36 months, 15,000 miles/yr, 43,785 MSRP, 34,485 sales price. I think the money factor is .00001 and residual 39%.

Can you provide me the money factor and residual for a 2005 Aero?

I just want to be sure 2004 is a better deal versus 2005.

thanks

cdb

Carman,

 

Actually I am interested in the Yukon SLT (4wd) and the Denali, not the XL models for the residual and the money factor.

 

Thanks.

steine13

steine13, "Chronic Car Buyers Anonymous" #1957, 14 Dec 2004 10:35 pm

Click if you dare; lengthy rant from "Chronic Car Buyers Anonymous".

-Mathias

toky

Hi Car_man,

 

Thanks for the quick response.

 

Since there is not much going on for the MY 2005, is there any current special incentives for leasing the left over 2004 model?

 

My local dealer is offering:

 

Monthly payment: $299 (out the door)

Term: 30 Months

Deposit: $2,500

Risidual Value: $20,000

Yearly Mileage: 12K Miles

 

2004 RX-8 6-Spd

Grand Touring pkg.

Navigation System

 

Is this a great deal, or can I do better. Haven't negotiated anything yet, this is what the sales person told me up front.

 

Kind regards,

Joel

gmeow

Thanks so much, Car man! And since the $350 quote is after tax, looks like I got a winner here.

 

Thanks again and have a wonderful holiday!

CarMan@Edmunds

Here is all of the information that you need to get a good deal on this car, saaber1. If you were to lease a 2005 Saab 9-5 Arc Sedan through Saab Financial Services Corp. right now for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00042 and 47%, respectively. When negotiating the selling price of this car, keep in mind that Saab is providing $3,000 lease cash on it right now. Using the prices that you mentioned in your post, an MSRP of $36,240 and a selling price of $28,538, and the aforementioned lease program, I estimate that this car has a zero down, pre-tax monthly payment of around $339.

 

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CarMan@Edmunds

Hi bravest086. The salesperson who told you that they are not allowed to negotiate the selling price of this truck was not telling you the truth. The selling prices of leased vehicles are always negotiable, just as if you were paying cash. In fact, I would never lease a new car or truck without knowing its exact selling price. This is an important number to know because it shows you how much of a discount you are being given and allows you to calculate a lease payment. I would be more than happy to give you my opinion of this deal if you let me know what this truck's selling price is.

 

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CarMan@Edmunds

Ah ha, lanks. OK, let me see if I've got this straight. You are interested in leasing a 2005 Acura RSX that has a full MSRP of $22,150 and a selling price of $21,175 through American Honda Finance Corp. for 42 months with 12,000 miles per year. Using these parameters, I estimate that this car should have a zero down, pre-tax monthly payment of slightly less than $270.

 

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CarMan@Edmunds

Hey chubby4. The fact that you gave the dealer a deposit on this vehicle definitely gives them more leverage over you than if you had not. Having said this, most deposits that are given to dealers are fully refundable unless you caused them to order a vehicle for you that has some wacky combination of colors or options that might be difficult for them to sell. Were you told that this deposit is refundable?

 

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CarMan@Edmunds

You're in the market for a new ride again, huh, Mathias ? If you were to lease a 2005 Pontiac Vibe through GMAC right now for 24 months with 12,000 miles per year, its base lease rate and residual value should be 5.0% and 64%, respectively. The numbers for an otherwise identical 36 month lease should be 5.0% and 56%. As you may already be aware, GMAC publishes what are known as lease rates instead of lease money factors for the vehicles that it leases. You can convert its rates into approximate money factor equivalents by dividing them by 2400. GM is also providing bonus cash on '05 Vibes that are financed or leased through GMAC in certain areas. Let me know where you live and I will tell you if there is any bonus cash available in you area.

 

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CarMan@Edmunds

Njl, when I said to divide the lease rate by 2400, I meant 3.5 / 2400. You can achieve the same result by dividing the actual percentage .035 / 24. This lease rate is equivalent to a money factor of around .00146.

 

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steine13

Car_Man,

thanks for the reply; I'm in Lansing, MI (north central region). That's what I need; some more GMAC money, and maybe (like last time), the "in-the-driveway" rebate. I'm tellin' ya, they are giving those cars away...

 

GM upped my GM card earnings by $1,500 to $2k, there's $1,500 in incentive money, and the residuals are way too high... if I lease one of those things for 24 months at the stated values, I have to cover interest and $70-$80 "depreciation" per month.

 

Anyone looking for a nice clean '04 Vibe?

 

This is NUTS!

-Mathias

CarMan@Edmunds

Hi lwhite. General Motors' SmartBuy program is what is known in the industry as a balloon note. Even though they have gained a little popularity because if the vicarious liability laws that exist in states like New York, balloon notes still are not nearly as popular as leases are. I do not personally keep tabs on the latest balloon note programs that manufacturers are offering. Sorry that I could not be of any more help with he SmartBuy. I can give you an idea of what this truck's lease program is like though if you are interested.

 

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CarMan@Edmunds

You're very welcome, hpowders.

 

Car_man

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CarMan@Edmunds

I'm glad to hear that everything has worked out well for your sister and her TL and hopefully soon with you and your 5-Series, gold233790. Here is the latest information that you are looking for. If you were to lease a 2005 Mercedes-Benz MB E320 Sedan with 4-matic through Mercedes-Benz Credit right now for 39 months (this is definitely the way to go with this car) with 15,000 miles per year, its base lease money factor and residual value should be .00310 and 57%, respectively. Mercedes-Benz has a decent level of cash and lease support on 2005 E320 Sedans that are not equipped with 4Matic, but do not I believe that this support is available on 4Matic models.

 

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CarMan@Edmunds

You are right, lycanthris. Infiniti is not providing any sort of lease support at all on the 2005 G35 Sedan. Its current money factor for this model, .00215, is Infiniti Financial Services' standard lease money factor. As I always say, it is difficult to predict what manufacturers will do with their future incentives programs with 100% accuracy. If I had to make an educated guess as to what will happen with this model's incentives, I would say that there probably will not be any lease support on it for several months. Again though it is difficult to say what will happen for certain. This will depend a great deal upon how well this car sells versus its competition and how strong sales are in the auto industry overall in the coming months.

 

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michael10

carman, Can you provide the current details including monthly price and residual on a 05 Aviator, leased in NJ, msrp $52605 with a selling price of $47456 - 36 month w/ 15k miles w/ no money down? Thanks

lwhite

Car_Man

 

Yes, please let me know what the current lease program for the 2005 Suburban would be.

 

I didn't think Chevy leased in NY because of the crazy liability. Maybe its Ford I'm think of.

 

Thanks

hpowders

Hello again Car_Man. Please be so kind as to provide me with the mf and residual for a BMW 545i:3 years, 36,000 miles.

Thank you for your help.

westtx

Car_Man,

Can you let me know an approx lease payment for a 2005 Toyota Camry LE in Texas, MSRP 20,515, selling price 17,248 for 36 and 48 months with 15k miles per year? Selling price includes 1000.00 rebate. Also, does credit rating impact money factors? Thanks for everything you do!

upndwn

May I please know the numbers for a 2005 Acura TSX, 15,000/yr. 36, 42 and 48 months. Please also advise whether the numbers change for navi or non-navi as they do/did in the TL.

 

Is Honda likely to ever offer support for the TL or TSX and, if so, which is likely to get more or receive it sooner?

 

In post #15346 you indicated that the 2005 A4 1.8Q was .00049 & 51% for 12,000/yr. and 42 months. How about 15,000/yr. and 36, 42 and 48 months.

 

Any idea when the 2005s will be gone and the 2005 1/2 or 2006 style A4s will arrive?

gogiants

Car man -thanks as always for your insights. Regarding your prior response to one of my questions yes I am a lifelong SF Giants fan and yes Yikes is a good word to describe the Barry Bonds situation. We will have to see how he does this year without the "juice." Now my question, am about to close lease deal on BMW 325 had to go to SF Bay area even though I am from Sacramento becuase local dealer claimed that all dealers pad their money factor. Thanks to this website I called some other dealers who were willing to give me the base MF. Here is the deal

 

BMW 325 sedan

MSRP 34,490

Cap cost 33,185 (includes $625 acquisition fee)

MF .00095 (.00080 plus .00015 for no sec. deposit)

Residual 62%

36 months/12k

drive off $700.00

payment w/ tax $419

 

Seemed like a good deal to me. what do you think?

kyfdx

butting in.. not the expert.

 

If the tax portion is about $39/mo, then that is indeed a very good deal...

 

However, I would be inclined to make the security deposit and get the base MF..

 

It will cost you $425 more upfront, but your payment will drop by $9/mo saving you $325 over the life of the lease, plus you will get the $425 back.

 

regards,

kyfdx

lanks

thanks for the help Car man, thats much lower than the 289 a month which i was offered

ridenow

I am new to leasing and am interested in the z4 2.5i.

 

BMW is advertising a $369 for 36 mo lease with 10k/year with a 1,975 down payment in NY. Are advertised lease deals usually negotiable?

 

I would want to pay 0 down and need at least 12k (probably 15k) per year.

 

Sorry for the newbie questions. Please advise me what my next steps should be.

 

BTW, I checked the forum for prices on the z4 but there hasnt been anything recent.

kyfdx

Any advertised lease can be tweaked..

 

No down payment? $1975/36 = about $60/mo. more once interest is figured in..

 

15K vs. 10K? Residual drops 3%, so add another $37/mo..

 

Now, the advertised lease is about $466/mo.+tax.

 

Can you negotiate lower? Probably... maybe a $1000 left to play with, depending on how loaded with options the car is... and the dealer's propensity to deal.

 

Save $1000? Deduct $30/mo. from above payments.

 

not the expert,

kyfdx

bernard2o6

We are new to leasing and have decided on a new '04 G35 Coupe. We qualified for the premium 1.9%APR thanks to that Infiniti winter sales event that was recently launched on '04 models. We are trading in 2 cars also. For someone that's new to the leasing negotiation, do you have numbers that we can use for benchmarking? We've done the regular research on for invoices and KBB/NADA trade-in values and have looked at a few leasing advice sites. But I don't know what I should be looking at in terms of money factor and residuals. We've already gave a refundable deposit also. For reference, the car we have a deposit on is identical to this one:

http://www.infinitioftacoma.com/vehicle.aspx?id=87b14710-7ee4-460- c-adbe-8db65c76abd5

 

Any advice would be appreciated! Thanks!