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One thing that I noticed about your deal is the substantial down payment that you are making. 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 G35 would be exactly the same, regardless of whether you had put thousands of dollars down, or had made absolutely no down payment at all. If you really want to trade your Elantra in, have this dealer cut you a check for it rather than using the proceeds as a capitalized cost reduction for your lease.
According to my calculations, if you were to lease a 2005 Infiniti G35 Sedan 2WD with an MSRP of $31,200 and a selling price of $29,750 through Infiniti Financial Services right now for 4 years with 15,000 miles per, your zero down, pre-tax monthly payment should be around $370 per month. As you can see this payment is much much lower than the outrageous ones that you have been quoted by this dealer. If I was in your situation I would walk away from this dealer and find another one in my area that was willing to be more reasonable.
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If you were to lease a 2005 Infiniti QX56 AWD through Infiniti Financial Services prior to the end of the month for 36 months with 15,000 miles per year, its base lease money factor and residual value should be .00179 and 53%, respectively. The residual value for an otherwise identical lease with only 12,000 miles per year would be 54%.
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I'm looking to get a lease on a cobalt but want to have some negotiating leverage just like anyone else.
Can someone give me some information about leasing a cobalt? What is the MF, residual and incentives.
I'm looking to get a cobalt sedan or coupe with a MSRP of $16,400 and I can get the GMS discount. What kind of payments can I expect for a 36month lease @ 12,000 miles. What kinda of dealer costs can I expect and should not give more than? What kind of security deposit would I expect with a FICO of 750?
Basically what can I expect to get my payments down to and what parts will I probably have to negociate to get it down to this?
Thanks
If you were to lease a 2005 Lexus GS 300 without navigation with an MSRP of $46,800 and a selling price of $45,900 through Lexus Financial Services prior to the end of the month for 3 years with 15,000 miles per, its zero down, pre-tax monthly payment should be around $696. You should be able to negotiate a more attractive capitalized cost on this car if you shop around a little bit.
If you were to lease a 2006 Infiniti M35 2WD Sedan with an MSRP of $47,760 and a selling price of $46,760 through Infiniti Financial Services prior to the end of the month for 3 years with 15,000 miles per, your zero down, pre-tax monthly payment should be around $634.
If you were to lease a 2005 Acura MDX Touring w/NAV with an MSRP of $43,294 and a selling price of $40,794 through American Honda Finance Corp. right now for 3 years with 15,000 miles per, its zero down, pre-tax monthly payment should be around $565.
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If she was to lease a 2005 BMW 325i through BMW FS prior to the end of the month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00225 and 57%, respectively.
If she was to lease a 2005 Volvo S40 2.4i through Volvo Finance prior to the end of the month, its base lease money factor and residual value should be .00175 and 54%, respectively in every state but New York. The numbers for an otherwise identical lease of a 2005 Volvo S40 T5 FWD should be .00185 and 53%.
Toyota is not currently providing any sort of lease support on the 2005 Prius. As a result, if your mother was to lease one through Toyota Financial Services, she would have to use its standard lease program. The last time that I saw it, TFS' base lease money factor for consumers who qualify for its "Tier 1" credit tier, was .00225. Its residual value for a 3 year, 12,000 miles per lease of a 2005 Prius should be 55% through the end of the month.
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Thanks,
Al
>> Accords right now for right at, or even a
>> couple hundred dollars below invoice.
Over in the Accord "price paid" forum folks are reporting more like $600-1,000 or more under invoice depending on the model and location. That is enough (almost) to get the advertised deal with $0 cap cost reduction - you can almost hit the next cap cost with the dealer discount (VS the advertised deal of $600 over and $1,500 out of pocket).
Most dealers are telling me that today (31st) is the last day those really cheap price, since the dealer incentive runs out.
Dennis
The short story is that the info your provided saved me about $37 per month, or $1332 over the course of the lease. Thanks!!!
You were "sticking it to the man" :-)
You were just lucky they would honor the buy rate, some dealers I have tried to work with just let me walk away or get 3rd party financing rather than giving the buy rate.
Enjoy your new car!
Dennis
Thanks for your info. Similar to the above post, the finance department tried to add 1% point to the rate. I said I understood it was 3.5%, then the sales manager tried a bunch of mumbo-jumbo (actually pretty funny stuff) to explain why the rate should be 4.5% vs. 3.5%. I said Ok, just show me in writing where it says what you are explaining, and I will pay the 4.5%. The finance manager then said to just go with the 3.5%!
Anway, here is the deal on my Galaxy Silver Maxx LT with 1SB package.
$26,260 MSRP
$24,420 Sell Price (GM Supplier price - they honored the price without using the program so I could use my GM Card money) minus
$500 GM bonus cash minus
$500 GM lease cash minus
$500 GM Auto Show in Motion Incentive minus
$1000 GM March Madness cash minus
$3450 GM Card rebate money plus
$499 dealer fee plus
$595 GM Aquisition fee plus
$850 start-up fees (1st month payment, taxes on rebates, tag, title, state fees).
56% residual and 3.5% interest rate for 36 month, 12k miles/yr. lease.
So, no money out of pocket at all (just drove the car home) - payment with tax is $223/mo.
And, as part of the deal, the dealership is cutting me a check for $499 to refund the dealer fee.
Great deal, great car!
MSRP $34,335.00
agreed value of vehicle and any items i pay for over the lease term (such as taxes, fees, service contracts, insurance, and any outstanding prior credit or lease balance-- $33,533.15
gross cap cost $35,118.98
acq fee $595.00
cap cost reduction $234.57
residual value $19914.30
rent charge $3038.17
total at signing $1000.00
total monthly payment $500.23
+ they're paying off my wife's old lease for $1050.00
my wife and i priced a sample lease on leasecompare.com and got $492 mo + $500 at sign plus tax & tags. so she's happy w\the dealer's offer w\ the pay-off. what do u think?
thanks for your help and time
A follow-up to this question - what about the acquisition fee? I'm assuming I have to pay the entire amount, even if I want to roll it into my payments, but maybe I've got it wrong.
Thanks,
Sean
I know you are going to get asked this one several times so I thought I should ask for it all in one shot.
2006 325i residuals and money factors for a 3 year lease with 10K/12K/15K miles.
2006 330i residuals and money factors for a 3 year lease with 10K/12K/15K miles.
Just in case that is too much to request, I am interested in a 325i with 10K and 12K, so you can start with that one!
Thanks for helping so many of us.
Some lease banks make you pay it up front, others will let you roll it into the cap cost. With a really cheap promo money factor I would say anything they let you roll into the cap cost is a good thing. Likewise, they don't pay any interest on the security deposit so if you can get out of paying one it might be worth it - you have to plug the numbers in for yourself and see.
With a high money factor, then you really increase the effective amount of the acq fee by not paying it up front.
If you car is totalled or stolen the insurance will pay off whatever the payoff on the lease is (assuming the lease or your insurance has gap coverage). So anything rolled into the cap cost would get paid off as well.
Dennis
I am sorry that I wasn't clear. I wanted the information on the 2006 Ml350. What is the residual after 36K, what is the money factor, and what other information do you have regarding getting a lease on this car?
I was wondering if you could review a lease for me. This is a fantastic service that you supply, and I hope you are well rewarded for it. Anyway, here's the deal.
2005 Acura RSX S-Type
36 months\ 12,000mi
Starting value- 22,700
Residual- 14,059
money factor- .00061
Annual rental fee- 1.46%
$1358 due at signing
Payment $265 plus monthly sales tax (Georgia law)- About 274/mo total.
Thanks a ton for looking at this.
Sincerely,
Josh
I was able to lease my G35 Sedan base model w/ sunroof last night. Terms are $460/mnth, 15k miles, 39 mnths. Anyway, I'm happy with the specs, but finance person asked me if I wanted the wear and tear plan for an additional $614 for the duration of the lease. It covers up to $5k at lease end. Is this worth it or is this another profit center? Please advise.
I am in NY and today leased a g35x AWD with premium package for 39 months, 15k miles for $475/mo. I asked about allowance for wear and tear at the end of the lease since the Chase lease I previously had allowed for $1500. I was not offered any extra wear and tear option. Also, my bank fee was $795 and 1st mo payment and security deposit and misc charges totalled about 1900. What were your other charges? Did they tell you that this was the last day for the existing rates and that they would probably go up shortly.
Al
In trying to figure out the financing approach I have purchased leasewizard, a little tool that allows one to plug in numbers and save comparisons to help do the math and figure out the finances.
There is also an option to get quotes from lenders
(Best for the M was 60% residual, .00228 Money Factor, 550 acquisition. 15k mile.
I am a SBF and have often read that we get the worst deals in buying cars so I am doing a lot of research.
I was contacted by a guy from autoleaseconsultants an internet service who described an approach to avoid the dealer. There were several incentives such as better lease rates.
This sounds great to me. Once I know what I want and what I think is a reasonable price, it is worth a few hundred dollars for someone else to do the work in securing the car for that amount.
Do you know of anyone who used this service? If so, are their experiences positive or negative?
I really appreciate all of your help.
smith83.
To why you can't get the low, March program figures is because they are using these incented numbers to remove the '05 stock from their dealers lots. Remember, both the 2006 525 and 530 e60's have new, all aluminum 6 cylinder engines with considerable more HP/torque than the '05's.
It would not be a prudent business decision to use such low MF and residuals when they know they'll have a hot new model on their hands.
As an aside, an overlooked winner in this scenario is those who ordered the 545. This car remains an '05 until September when it is rumored to be replaced by the 550.
You could have ordered a 545 for April/May delivery and taken advantage of an even lower, .001 MF on the 545 than incented March 525/530 program which was .00125. This would result in one getting "more" of a car over the '06 530, for a relatively similar lease payment because the '06 models MF will be 2x the '05 545's.
Going further, if one were to do this using European Delivery, the monthly payment on the 545 would be lower than a US delivered '06 530 and near even with a '06 525!!!!!! because you negotiate the cap. cost off the Euro Delv. invoice price but the residual off the US MSRP which equates to you effectively leasing "less" of the car over the 3 year term.
Thanks for all of your help again. My wife and I are going to pick up her new 2005 Honda Accord Sedan LX-V6 in about 2 hours. I negotiated $800 below invoice and will be paying $305/month including all taxes, fees etc, for 36 months 12k miles, with absolutely no money out of pocket except for the first months payment. The MF was .00048 due to not using a security deposit, so even with this slightly higher rate, it is like free money (1.152% APR is a killer). Thanks for all your help, knowing about the dealer cash saved me a bundle.
gperr
My salesman says he has locked the March lease rates for me. He hasn't given me anything in writing - is that ok?
I will push hard on getting the acq. fee down to the base level. Or have them give some free accessory (e.g. iPod adapter). Let's see.
I will be eager to see the April numbers for 330Cic. I am sure, come tomorrow, all of us want to see the next month numbers for all the cars :-) Are these numbers posted somewhere on the web?
Dealers can and will jack up the MF on leases - and will do the same on the interest rates on loans. Anything they get you to sign for over the "buy" or base rate = extra profit for the dealer. That is why the server car_man does is so valuable - you know the buy rate and can spot them jacking it up.
The residual can't be changed by the dealer, it is set by the lease bank. The higher the residual the lower the payments - but the higher the buy out is at lease end. This is one way they have "lease specials" - jack the residual way up to get a low payment. If the lease OR your car insurance does not have "gap" coverage this can be a problem. If you car is stolen or totalled then the insurance will want to pay out "market value" or "replacement value" for your car - with a jacked up residual this may not be enough - which is why you need gap insurance.
Dennis
3/36 msrp price with running boards 40595.00
sold for 36215 505 per month. 1st month and sec upfront
nyc taxes 1585 and bank fee 1095 in payment
thanks for all your help!
My best deal is > $1,000 under invoiuce including the doc fee - but the dealer is WAY too far way.
My next best deal is $834 under invoice including the DOC fee, but I got a much closer dealer to get really close to that number - so I am going to save several hours of driving tonight and get it closer to home. They are thowing in some discount coupons for service - and I can use them on the new car or my S2000 (this is where I take it for service anyway).
Like you, I am rolling the $595 acq fee into the lease. Undecided on the security deposit - the payment is so low it is not THAT much money - and taking the 0.25% rate increase adds up to about $120 in extra interest. I will pay the tax ($80) and tags ($77 or so) up front, I think.
BTW, what color did your wife pick?
Dennis
Do you have the residual % and money factors for the NEW 2006 BMW 325 and 330?
Any recommendations of good BMW dealers in the NYC area would be appreciated as well.
Thanks.
Thanks!
Also, is it better to use a trade-in as upfront money thereby increasing the down payment and reducing monthly costs or should I just try and sell it myself? (I have a 97 Honda Accord LX Coupe)
You should never put money down on a lease. If the leased car is totalled, you lose your downpayment. If you trade the car in, have the dealer cut you a check for it. You will do better selling the car yourself, if you think it's worth the hassle. Post in the Real World Trade-In Values discussion to get an idea what it's worth.
39 mnth/15k miles - $478.93/mnth includes W&T plan
Gross capitalized cost: $33,027
MSRP: $32,200
Negotiated Price: $29,877
Acquisition Fee: $550
Negative Trade-in: -$2600 (had a Hyundai Elantra GT)
Wear & Tear Plan: $614
Upfront Cost: Total - $2000
Cap reduction (down payment) and tax: $902.93 and $63.21
First month payment: $478.93
Doc fee and Tax: $533.93
Title and Registration: $21.00
Any ideas about Infiniti incentives for April?
I'm looking to lease a G35x with premium package for probably 39 months - maybe longer. I have a decent price on it so far:
VPP price $33,982
39 Month: $458 $2100 on delivery (All 12k miles)
42 Month: $449 $2200 on delivery
48 Month: $442 $2400 on delivery
Effective APR is 4.85% according to them.
I don't know the exact residual value - but am concerned that with the new quarter it may change. But at the same time there potentially could be some other incentives? (Not likely that the MF goes down - but who knows?)
Dennis
Dealers can make extra profit by marking up this rate. Any customers they get to sign for over the buy rate - they get a "rebate" from the lease bank of this extra money. So if you don't get the buy rate, you pay more and the dealer makes more.
You negotiate the price of the car, just as if you were paying cash. You don't say anything about a lease, how much you want to spend, etc. Once you hammer them down as low as you can then you tell them you want to lease at the buy rate. By doing your homwork online you can find out what others are paying for THEIR similar cars, what the dealer cost is, any rebates or dealer incentives on the car, and finally you find out here what the buy rate is on the lease.
A Honda Accord should be EASY to sell - they are relable and always in high demand. Clean it up really nice (maybe even pay a detail service to do it) and run it in the paper or "Trader's Paper" in your area and it will be snapped up quick. Use the private part selling prices from here on Edminds and KBB.com to see what to ask for the car. Stick the money from the sale in the bank or something, you normally don't want to pay down a lease. If the money factor on the lease is really cheap, then you can usually roll most of the lease costs into the lease. With higher interest, you would want to pay the tags, title, taxes, acq fee, security deposit (if any) up front.
Dennis
MSRP $37,252 Purchase price $33,000( est)
45,000 miles .00215MF (rates just went up, so actual is about .0002 higher) - 5.16%; 20,664 residual
36 mos 490
Purchase option is residual + $350
Again this is my first time so I have a headache, I feel like I could get a luxury SUV for a 500/mo payment. Any help would be appreciated. Thanks Car Man
1st deal:
Selling Price $34,430
Money factor .00187
Payment $529 month including sales tax 7.75% of selling price( In IL, so you're taxed on the full selling price).
$724 due on delivery. 1st month payment and fees
2nd deal:
Selling Price $34,465
Money factor .001928
Payment $468 month not including sales tax 7.75% of selling price( In IL, so you're taxed on the full selling price.
$1164 due on delivery. 1st month payment, $500 security deposit and fees
Just for the heck of it I asked for a lease on a M35 AWD with journey package
MSRP $45,880
Selling Price $45,880
Money factor .00193
Payment $749 month including sales tax 7.75% of selling price( In IL, so you're taxed on the full selling price).
$944 due on delivery. 1st month payment and fees
The 1st G35x and M35 lease were done online and the second G35x done in person. Both places were pleasant to deal with.
Do you have the April residual and interest rate for a 36mth suburban/yukon xl lease? Do you also know what incentives GM is offering? Thanks for the help.
Go8
I am planning to lease an MDX for mainly business use and wanted to know if I needed to do it thru the business (s corp) to get the tax benefits
Can you tell me the money factor/interest rate and residuals %'s of the following vehicles? I haven't went to work a deal out yet, just want something to start with.
Also, how much would the acquisition fee be on GMAC financing?
All 2005 Models of course:
Cavalier
Cobalt
Impala
Monte Carlo
I'm really looking to hopefully lease something this week if possible. I really appreciate your help getting a good deal on a lease, I have never leased a vehicle before... always purchased used before.
Thanks,
Blaine
Also, if you could tell me any additional incentives that I may not know about on these vehicles that woudl be great... I'm doing my homework just not sure what all I need to find all the incentives... here are the ones I found: and I do get the GM Supplier Discount
Cavalier $4,000 Cash Allowances
Cobalt $1,000 Cash Allowances
Impala $3,500 Cash Allowances + $1000 for eligable GM Participants
Monte Carlo $3,500 Cash Allowances + $1000 for eligable GM Participants
Just not sure if there is any additional lease money or anything.
Thanks a lot,
Blaine
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I'm just running an estimated example lease for myself to make sure I'm doing it correctly... can you verify that I know what I'm doing?
2005 Cavalier
Base MSRP: $14975
TMV From Edmunds: $14244
Minus Incentives: $4000
Minus GMS Discount (est 7%): $715 (14244-4000)*7%
Est Residual 50% of MSRP: $7488
Est MF/Intrest: 5% or 0.00209
Sales Tax 7% of MSRP: $1048
Est Title/Reg: $225
36Months / 12k mile
Est Acquisition Fee: $600
Est Security Deposit: $150
Monthly Payment of $147
Does all of this sound correct to you Carman?? I just want to make sure it looks like I know what I'm doing so I can come up with some senerios before heading to the dealers...
Thanks