Lease Questions - Ask Here

CarMan@Edmunds

Greetings ev12. I would be more than happy to calculate a lease payment on the truck that you are interested in for you, however I need some additional information form you first. This information includes, this truck's full MSRP, including destination charges, how long you want to lease it for, and how many miles per year you need to be able to drive it.

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CarMan@Edmunds

Thanks for the additional info, petoz. I don't know whether this is listed in the incentives section of this site or not, but Audi is currently providing $1,500 dealer cash on 2005 S4 models (the old version) that are equipped with manual transmissions. I have not seen the 42 month lease program for this car, but I can tell you that is you were to lease a 2005 Audi S4 Sedan (the old version) through Audi Financial Services right now for 39 months with 15,000 miles per year, its base lease money factor and residual value should be .00085 and 51%, respectively. This model's money factor jumps significantly for a 48 month lease, so you probably don't want to lease one for that long.

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CarMan@Edmunds

Hey keeferb. That's a new feature to Ford's site. I just scrolled back through some of our conversation and realized that I forgot that you are in Minnesota. For some reason, Ford's incentives always seem to be higher there than they are in the rest of the country. You are correct, Ford's lease rate for a 3 year lease of a 2005 Explorer in Minnesota should be around 7.0%. Ford is also providing $2,000 lease cash and $1,000 bonus cash in your area. Sorry for the confusion.

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CarMan@Edmunds

You're welcome, Mike. Paying for an entire lease through BMW Financial Services in advance does not eliminate the need to pay interest, it only lowers the interest rate that you have to pay.

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CarMan@Edmunds

OK, jbtwo. If you were to lease a 2005 Mercedes-Benz ML350 through Mercedes-Benz Credit right now for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00310 and 52%, respectively. When negotiating your lease on this truck, keep in mind that Mercedes-Benz is providing $2,000 dealer cash on it that will help you to negotiate an attractive capitalized cost.

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dguptaofnj

Hi,

I am looking for a low mileage ( under 10 K ) lease of a mid-sized SUV in Central NJ. I have narrowed it down to the MDX ( Base ), 4Runner V6 4WD Sport and Highlander Limited AWD V6. There is an incentive for the MDX, but the incentives for the 4Runner and the Highlander are for lower models ( 299 for SR5 and 259 Base V6 Highlander, each with no money down ). What should I be expecting to pay ? I am open to lease terms, but do not want to make a big down payment.
Thanks.

nikinnicky

Due to the constraints of the company I now work for, I can deduct $200 of lease payments(but not purchase payments) per month. I have never leased. I have the opportunity to lease a 2004 honda accord ex sedan, manual, 2000 miles, involved in "minor" accident($600, I have the report) which was repaired. Purchase price-$19,000...acquisition fee-$595...money factor-.00209...adjustment for low mileage-651.70...residual-44%...buyout-$8821 In reading the postings on this site it's clear there are some really saavy people out there. Your advice, please.

go8

You can very quickly get to $3500 in upfront costs (1100 cap reduction/600 bank fee/700 sales tax/450 1st month/350 sec deposit/200 title & reg). What are the terms of your lease? I've seen in NJ MSRP $36,910 a 39 month lease with $1931 down for $375/mth.

Go8

go8

Mike,

1 thing to keep in mind is if the car is a total loss (accident or stolen), you could loose a large chunk of your upfront lease payment. The worse case would be that you drove off the lot and the car is totalled in an accident. The more money you put down on a lease, the more you have to lose.

Go8

ev12

Car_man-

The MSRP is 33,820 and the destination charge is 515. I would lease for 3 years and 12K miles.

Thanks
ev12

wifeneedsvan

Car_man-

I forgot to mention that I'm wanting to lease for 36 mos w/ 15,000 miles per year. Thanks again.

lease_is_up

Car_Man- Thank you in advance for any help you can give. I am interested in finding out the Factor and
Residual for 2006 MB E350 4matic. Lease term of 36/39months, 10k and 12k mi/yr (NY lease). I appreciate it very much!!!

petoz

Thanks Car_man so much, this is invaluable information. I will probably try a 42 month lease then (trying to push down my monthly payment).

Last question: how negotiable is the money factor (I have good credit)? Is it an Audi Financial Services rate that the dealer has no control over or can the dealer subsidize the MF from somewhere else (maybe rfom a share of the profits Audi makes from the financing)? I will already be pushing him down to invoice on the cap cost so I doubt he can afford anything from there.

elag1

interseted in getting a price fro 2005 TSX without nav. 10 k or 12k miles for 36 or 42 months .what is the money factor and residual value . thank you

craigmil

Hey Car man.

Interested in a Volvo S40 with automatic and Select package. That's a MSRP of $27305, invoice of $26168. Terms would be 36/12 or 15K.

What types of payments am I lookin' at?

Thanks.

kbrown

Carman can you give me the MF, Residual for a g35x w/ premium package for a lease of 36 or 39 months with 15k per year, $500 out of pocket and a sale price of 33,700.. Msrp roughly 36,500. IF you can calculate payments including or excluding nj 6% sales tax. it would be greatly appreciated..

jetfan

Hello car_man & others: I am looking to lease an AWD sedan. I have a volvo quote for the 2005 S60 R AWD with a MSRP of 42,850.00. Discounted to 33,751.00 with inception fees of $765.66 & $499.46 a month for a 36 month lease with 12K a year. I told the dealer I have a pin number for the Ford Zplan & he indicated this deal is better than the Z plan. Is he correct? Is this a good deal? Is this a good car?

jcrawford

Hey guys,

Thanks for running this discussion group. We consumers need all the info we can get! Question: I'm trying to get a 2 yr./12,000 m/yr. lease on a Saab 9-3 automatic. The dealer wants $3,851.44 cash at signing which includes the first payment, tax, tags, the cap cost, and a $595 acq. fee. The payments are $269.94/mo. The sale price is $25,467, the money factor is .00016, and the residual is .57 of the MSRP ($28,920.)

When I plug the numbers into the Edmunds Basic Lease calculator, I'm getting $229 and some change as the monthly payment. What am I doing wrong? Or better yet, where am I getting screwed? I figured the acq. fee should not be part of the equation since it's included in the down payment.

Thanks again for an invaluable service.
-Jim

brickyarddog

jcrawford,

In order to come up with an answer, I think we'll need to know the breakdown of the $3851.44 cash at signing. Specifically, how much of that is actually going toward cap cost reduction?

I took a swipe at it, guessing $3000 is going toward cap cost reduction, and I'm coming up with a pre-tax payment of $255.51.

agillman

Carman,

I am reposting from #17792 because I don't think you responded. I apoligize if I missed it.

Can you please provide money factors and residuals for a 2006 Lexus GS 430. I'm in Southern California and would be interested in 12,000/15,000 mile leases for 3, 4, and 5 years.

Thank you.

leapfrog

Help! Iam getting a lease rate of $524.80 on 36 month lease 15,000 miles (no-money down) on a 2005 Honda Odyssey EX-L-DVD.
Purchase price is $30,408 on an MSRP of $32,410, there is a $595.00 Acquisition fee that Honda has included. The useage rate in my county is 5%.Does this seem realistic?

scott31

"Vovlo can't seem to give their convertibles away and most dealers have left over 04s still on the lot and Volvo has LOTS of money on them to help them move. "

Since I can't find the info on Edmunds price pages, could you put a $$ on "LOTS"?

Thanks!

scott31

Smith83, where are you located? I would be interested in taking over your TL w/Nav lease.

penn2

Hello

I believe you've referenced in previous exchanges Audi A6 leases but, not sure how specific...
Current lease factor, accordingly to dealer for 36 mos./12K mi. is .00189
Question is: how Flexible is that number? Likely to change(lower) come April?
Finally - what do you recommend(outside of actual sale price)that I focus my efforts to reduce monthly cost, assuming no down payment?
thank you !

jcrawford

Thanks for responding so quickly. The $3851.44 is broken down as follows:

$2155 cap cost
$269.94 first mo. payment
$764 tax
$67.50 tags
$595 acquisition fee

What do you think?

auburn97

Car-man, could you please calculate a lease for me based on the current money factor and residual values for a 2005 Nissan Murano SL, 42 months, 15,000 miles?

MSRP: $29,330
Negotiated price: $26,779
I asked him for his out the door price as if I were to purchase rather than lease, and here is what he stated:

$26,779.00
+$1,013.55 tax
+ $249.00 doc fee
+ $16.50 title
-------------------
$28,058.05

My initial post about a $299/mo lease with nothing down was too good to be true when I showed up at the dealer. Go figure

smith83

Dennis. Thanks for your response. The $1,011.00 being added to the Cap Cost is for an Acquisition Fee and Notary Fee. Does this sound feasible?

I am working very hard on the interest rate.

lmacmil

With your numbers, I get a payment before tax of only $196. Without the cap cost reduction of $2155, I get $256. I built an Excel spreadsheet based on the Edmunds formulas.

coffee_fan

Thanks much again Car_Man. I am going to bug you one more time.

The current offer since 3/11 for SAAB Arc wagon here in the NW is:

24 month/12Kmile year lease with:
MSRP = 37770
Residual = 22834.30 -- 59%
24 Monthly payments of 368.04
Inception fees = 2999 - includes down pmt. sec. dep., ac. fee & first month payment.

Based on data from previous messages and my numbers I am guessing the following:

1) SAAB is providing Lease cash of $3000
2) Dealer incentives at the tune of $2000
3) MF -- unknown.
4) Acq fee = 595
5) Sec. deposit = unknown.

Can you validate items 1 through 5? Specially can you provide the 24 month MF and whether Dealer incentives at $2000 can be true?

Thanks in advance

go8

Mike,

Didn't mean to upset you. You said you were a 1st time lessee and I was trying to provide you with some info. I am assuming that you have more than gap insurance since it only pays the difference between what you owe the finance co and the car's blue book value.

Go8

asd302

2005 Volvo S60R 39mo 15k/yr
MSRP $44390
LEV% 50% = $22195
MONEY FACTOR 0.00239
INIT. CAP COST RED = $42534
ACQ FEE INCL. = $895
TAXES TABLE = $1727.66
CASH CAP RED. = $1350
REBATE = $6500
ADJ CAP COST = $34684
BASE MONTHLY RENTAL = $456.17
TOTAL MONTHLY RENTAL = $497.23
MV FEES = $50
UPFRONT FEES = $984.87
AMOUNT DUE AT START = $3008.60

UPFRONT FEES =
TITLE & LIEN $22.50
AQC FEE $895.00
DOC FEE $55.00
ONLINEDLR FEE$12.37
=$984.87

This deal is through USBANK, the dealer says their leases are great right now, $6500 rebate seems pretty awsome. Let me know what you think.
thanks

md_outback

Hi Car_man,
I've seen recent posts about lease details for Honda Accords without Navigation. Can you tell me the details (Money Factor and Residual) for a 2005 Honda Accord Coupe EX-L, 4-Cyl. Auto Trans., with Navigation (MSRP $27,115) and also 2005 Honda Accord Coupe EX, 6-Cyl, Auto Trans., with Navigation (MSRP $29315)? I looking for 36 mos term @ 12,000 mi/year. Thanks in advance for your help.
MD_Outback

CarMan@Edmunds

Welcome jetfan. One can lease a ton of nice cars for $500 per month, including an Audi A4, BMW 3-Series AWD, Infiniti G35 AWD, and Mercedes-Benz C-Class 4Matic to name a few. Take a look around this site and try to narrow your search down a little bit. After you do, let me know what cars you are interested in and I would be more than happy to give you an idea of what their lease programs are like.

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CarMan@Edmunds

Funky1020, as long as this money that you paid at lease signing does not include a capitalized cost reduction, this deal looks good to me.

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CarMan@Edmunds

Hi Sri. A selling price of below invoice is a very attractive deal on a 2005 Sienna. I would be more than happy to try to calculate a sample lease payment on this van for you id you let me know what its full MSRP is.

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CarMan@Edmunds

My what a descriptive username you have, wifeneedsvan. I would be more than happy to help you out with the information that you are looking for. According to the latest information that I have seen, if you were to lease a 2005 Honda Odyssey EX w/ Leather and Rear Entertainment System through American Honda Finance Corp. right now for 3 years with 15,000 miles per (let me know if you need info on a different term / mileage, you never mentioned which one you want), its base lease money factor and residual value should be .00225 and 57%, respectively. Using these numbers, an MSRP of $28,987, and a selling price of $31,500, I come up with a zero down, pre-tax monthly paymet of around $525. Having said this, I think that you mixed up this van's MSRP and selling price. The selling price is almost always lower than the MSRP. If one was to reverse these numbers, the monthly payment would be a much more reasonable $413.

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CarMan@Edmunds

Hi krishno22. I can tell you right now that you were mislead when you were told that the only lease program that was available on the Nissan Altima right now requires $2,600 down. Consumers can lease whatever vehicle they want without making any sort of down payment at all. In fact, it is in your best interest not to make any sort of capitalized cost reduction when leasing. 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 new car would be exactly the same, regardless of whether you had put a ton of money down down, or had made absolutely no down payment at all.

Nissan's current lease money factor and residual value for a 2 year, 12,000 miles per 2005 Altima S leased through NMAC right now are .00060 and 59%, respectively. Using these numbers, an MSRP of $20,550, and a selling price of $18,925, I come up with a zero down, pre-tax monthly payment of $218.

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CarMan@Edmunds

Hello smith83. As one might expect, Lexus is not currently providing any sort of lease support on the redesigned 2006 GS 300. As a result, if you were to lease one through Lexus Financial Services right now, you would have to use its standard lease money factors. Its base standard lease money factor varies depending upon what your credit rating is. If you qualify for its absolute best credit tier, its base money factor is .00215, which is quite a bit lower than the .00275 that you were quoted. This credit tier is called Sign and Drive +. LFS' Tier 1 credit tier's money factor, which for some reason is not the best tier, is still only around .00235. My guess is that the dealer that you are working with is marking-up LFS' base lease money factor to add additional back-end profit to a deal on a new product that is in relatively high demand.

I would be more than happy to calculate a sample lease payment on this car for you, but in order for me to do so I need you to tell me its selling price.

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CarMan@Edmunds

You're welcome, ncdriver1. I believe that Mazda Credit's lease acquisition fee in your state is currently around $475. I do not believe that it charges a disposition fee at lease-end, but I am not absolutely positive.

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CarMan@Edmunds

You have a really nice car, peteg. It should last you much longer than it already has without causing you any major problems. Your least expensive option would be to continue driving your current car. Whether or not you should get a new vehicle, completely depends upon how badly you have that new car itch.

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CarMan@Edmunds

Hi lbumbalo. Your car's first month's payment, security deposit, bank fee (or acquisition fee), sales tax, plates, and registration are all normal fees that lessees have to pay at signing. The only one that will vary is your car's sales tax, as the methods for calculating sales tax on leased vehicles vary from state to state.

You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important number for you as a consumer to know for two reasons. First, 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 in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the car that you are interested in for you if you let me know what these numbers are.

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lovebmw330i

Car Man I am getting ready to pull the trigger on the BMW 330i lease. What should I be looking for in the paperwork to make sure the dealer does not play any games? I am not anticipating paying any additional or "hidden" fees or extra money for anything other than the 1 payment for the total cost of the lease according to the verbal agreement with the dealer. Please provide me with any feedback or recommendations.
Thanks,
Mike

krishno22

I went to 2 calculators online and plugged in the numbers that you gave in the last paragraph. Both calculators came up with $301.96 with zero down, pre-tax monthly.

The two sites that I tried were

http://www.leaseguide.com/calc.htm

and

http://www.calculator.com/pantaserv/lease.calc

I also tried out the Edmunds calculator. So the only place that I think I'm making a mistake is the car value at the end of the loan which I have at 12,125. Is that the number that is throwing me off?

funky1020

Thanks Car_man, you are the best!! Before my initial post to you I knew nothing about leases and with your discussions I feel like a pro. I actually picked up my new X3 yesterday. I feel even better now knowing that you sanctioned it. I wouldn't have been able to do it without you!!!

mkcal

About 2 years ago, I decided to trade-in my Passat (2 years into a 6 year loan) and lease a Jetta for 4 years/48,000 miles. I was upside a sizeable amount at the time and felt that after my lease was up, I could “start new.” At the time, I was working about 10 miles from home. About 14 months later, I took job that was 30 miles away. Needless to say, I have 21 payments left and 36,000 miles on my odometer. Based on my estimations, I will hit the 48,000 mile mark by November 2005. So I’d be driving over 12 months on “bought” miles. At the end of the lease, I estimate I’ll be about 25,000 miles over, which translates into $3,750. Currently, I’m a good $7,000 “upside down.” (I’m not too keen on buying the car at this point in the lease.)

My question is would it be better to simply wait out the lease and deal with the excess mileage at the end? Is there a chance that "wear and tear" will be considerable?

The next time out I plan on buying a car, but there’s no way I could come up with almost $4,000 at the end of this lease. I think $3,000 would be more feasible, but I also want to stop digging the hole further. Should I just plan on buying another VW?

Thanks.

jq31

"Money factor", "gap insurance" . . . never heard of it. Any suggestions on good online resources for general lease education? I've got a lot of research ahead of me!

corvette

I get 14250 miles over if you're working 5 days a week, 50 weeks a year, and don't drive anywhere else. Still a pretty large overage fee. You could plan on buying the car at the end of the lease to avoid the fee, perhaps driving it another year or two.

There should be no wear and tear fees if you haven't beat up the interior, excessively dented or scratched the car, and you have good tread on the tires. The mileage fee would be all you pay when you turn the car in, plus a disposition fee if there is one.

jetfan

Car_man you are correct. I do have alot of work ahead of me to find my next car. The BMW dealership is closer to my house than the others so that may be the best option. I test drove the Volvo S60. Very nice. I will try & get to the Infinity dealership this weekend. Would love to hear from some owners of these cars with either good or bad reviews. Thanks for your help.

petoz

Thank you Car_man so much for your help. Do you happen to have the residuals and money factors for the 36 month lease as well? I wonder if it is a better deal than the 39 month lease.

Lastly, the dealer says that the gas guzzler tax should be excluded from the MSRP of the vehicle for the purpose of calculating residuals. Do you know if this is true? This makes a material impact on the lease of course.

Petoz

litlbstard

Ok, I need help bad. Leased a 2000 Audi TT, used with 12,000 miles in 2002. It was Audi Certified. Soon after my warranty ran out, my engine died last October. Talked to Audi, they refused to do anything for me. Replaced the engine ($6000)Just found out i need a new clutch, $600.(didn't replace it yet, but its slipping really bad!!! My car lease is running out in 7 months, so i dont want to put any more money into the car.

Should I
A) Try to sell the car with a busted clutch? MY buy out is $12,000, maybe i can get $13000 for it.
B)Drive another car until this lease runs out and hand it in?
C)Buy another car at a delearship and make them buy my car out, but they will only give me around $10000 instead of $12000 if i cell it myself?