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Thanks for the info, the knowledge of the $500 does help being they are having trouble getting me a vehicle with my specs. Anyway yes I looked back and it appears that I have been using Edmund's with your help since at least 1998, and maybe even before that? So with a three car family and every three years it looks like this will be the sixth. I can say with certainty, you have made the car buying / Leasing experience more tolerable for the average consumer.
You did not comment on the reality of my Lease end with the Chrysler? Being this is truly something I did not expect and still have some apprehension about, I would like to hear your "EXPERT" comments. :confuse:
Gary
I'm interested in the 3 yr/ 36k mile lease for a sr5.
Also, when is the 06 coming out? Would it be worth it to wait so the residual values are higher on the 06 instead of now on a 05?
Thanks
This comming weekend I will be leasing/purchasing a car and was hoping you would be able to give me some numbers to help my decision. I am currently deciding betweent these three cars and was hoping you could give me some residual/MF as well as any dealer cash that is available for them. I currently know all the numbers for the Civic thanks to you! but still need numbers on the other 2. Thanks in advance for helping me get the best out of my money.
Chevy Cobalt Sedan MSRP $15910
Kia Spectra EX Sedan $15785
Honda Civic LX Sedan $16925
Would like residuals/MF and dealer cash on each of these. 36month/36,000 miles
Thanks, I will be getting one of these this coming weekend and would like the numbers.
I did a little figuring on my own on the cobalt based on the special lease they have and came up with these numbers. Please verify that they are correct if you know.
Cobalt
Residual 57%
MF 0.0014
And I have no idea on the Kia, please let me know.
Thanks
It depends on the dealership. In some, the sales folks don't know anything about the lease or finance specials. This one is not a "secret" or anything, if you go to the Honda web page and click on "current specials" it comes right up. In the deal (as listed) they have the LX I4 AT Accord sedan for $199 a month with $1999 cap cost reductions. This is based on the dealer making $600 or so over invoice, if you negotiate the price down low enough you basically get the same payment with $0 cap cost reduction. If you work the numbers backwards in a lease calculator it confirms the cheap numbers I posted.
http://www.edmunds.com/apps/calc/CalculatorController?tid=edmunds.n.pcalc.calculator.tab.1- .*
is the link for the lease calc here at Edmunds.
Dennis
Unless Kia has some serious lease help, I think you will find that this is a better purchase car than a lease car. The ALG 3/36k residual appears to be a terrible 31% !!!
The Cobalt is not much better at 35%. So unless there is a GMAC special lease, this car is not likely to lease well either.
To compare, the Civic LX is 53% - so you could have a higher cap cost on the Civic yet pay a much smaller payment for the Civic.
With Civic sales in the dumps right now and cheap leases available and dealer incentive money the Civic would seem the righ choice. Not to mention the best car of the 3 you listed
From the right dealer, the Accord LX lease deal can be done for $199 a month with $0 cap cost reduction, just pay the $595 acq fee, security deposit, first month's payment, tags and taxes and signing. Heck, with some of the price I have seen you might could even roll some of that into the lease and still be $199.
Dennis
I see above someone just requested info for an RX330 FWD. Please advise MF and res for RX330 AWD in PA. 36mo/15k. Thanks!
Thank you for the reply. I am looking for the residual and money factor for the Accord LX with both a 36/12 lease and a 36/15 lease. I used the Edmunds lease calculator and it works well. I would just rather know these figures before I enter the finance department office.
Thank you
Mark
We are considering a lease, either 39 or 48 months, 15,000 mi/year, on a 2005 Nissan Pathfinder SE. Credit is excellent. Dealer says Nissan has great money factors/residuals available but did not disclose. Can you share current money factors/residuals through Nissan Motor Acceptance? Thanks,
DNKG
The Infiniti dealer quoted me the following money factors
36 months 2.10
39 months 2.15
42 months 2.25
Residuals were the same. Your numbers match those for the G35 - are you sure these are also used for the M35? I know Infiniti has specials for the G35 but none for the M35. Just want to be double sure before I confront the dealer about his significant markups!
I see above someone just requested info for an RX330 FWD. Please advise MF and res for RX330 AWD in PA. 36mo/15k. Thanks!
The 36/45k should be the same MF and the residual will drop to 52% or 53%
car_man has posted 53% for the 36/36k residual, but if you look at the LX I4 AT lease special at hondcars.com you will see residual/MSRP = 54%. Also if you look at the lease contract I signed for my wife's new Accord you would see 54% is the right number.
The dealer can't change the residual percent or dollar amount, they can (and often do) jack up the money factor. So just be sure their numbers come out with the buy rate money factor no matter which way you go.
The miles are cheaper to buy now - accepting the lower residual - than by paying for them at the end of the lease ($0.15 per mile) so get enough. Of course, don't get too many - since they don't give you ANY credit back for unused miles at the end of the lease. If you plan on buying your are at the end of the lease, the lower residual of the 45k mile lease just means you pay more each month but less at the end to buy it out.
Dennis
If you compare paying closer to MSRP for the car, but getting the buy rate to your deal - which is cheaper? Probably your deal, but run the numbers and see.
3rd party (and captive) money factors have been going up - I just checked and leasecompare is doing 0.00220 on the M35. .
If you want a super deal on the M, you may have to wait until they are stacked up on the dealer lots and they are more willing to deal and give you the buy rate on the lease. Otherwise, ask if they will take you out in the new boat you are helping them buy
Dennis
AAA is offering a $500.00 rebate to all it's members who purchase or lease a Volvo by 04/30/05.
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Jetfan, can you please provide some more details on this rebate and how it works? I am a member of AAA. I will check with them also but any info you can share will be appreciated. Thanks.
Thanks
Even without a BMWFS lease I would not pay this for this coverage - but that is just me.
Dennis
If you plug these numbers in to a lease calculator you get the advertised $249 per month payment.
Even if you negotiated the price down to this amount, you would still need to pay the $595 acquisition fee (higher in some states), refundable security deposit ($250 or $275), first month's payment, any up front taxes, title, tag, and dealer's fees out of pocket at signing. You CAN roll this stuff into the lease, but then your payments will go up.
I plugged in the I4 EX /AT into carsdirect.com and using the Atlanta ZIP code the price comes up $20,263 - which is below the magic number to get the $249 a month lease. But you would still have to pay this other stuff up front or pay more than $249 a month. Also taxes in Florida are applied to the monthly payment and it varies depending on where you live - this is added to the $249 a month payment.
If you can do without the alloy wheels and moonroof the LX is a better lease deal. Same residual percentage, but the money factor is 0.00038 (0.912%) and the car is cheaper. A dealer in KY just quoted me $18,200 for the car including destination and dealer fees. A dealer in GA quoted me even less than this! With the lower price of the car and the lower money factor, you can roll the acq fee and security deposit into the lease and still be under $250 a month. Heck, you could also do a sign and drive and be close to $250 a month (roll in everything, even the first month into the lease and pay nothing - just sign and drive).
Dennis
My husband has me in the middle of this....all I'm sure of is that I want the car.
Ok,
Lease agreement is as follows:
Purchase Price 2005 Lexus SC430: $59,569
39 month closed end lease
residual: $36,777
simple interest rate of 4.9%
$595 bank fee, $150 doc fee
payments $837.37
license fee: 169.90
Sales Tax: 3,723.06
Miles 11,600/year
This will be my fun car - I expect to put less than 6000/miles year on it which is why I want to lease it.
My husband is trying to figure out if this is a good deal or should we just go buy one from the local dealer for $61, 500 and pay cash.
I don't want to buy it outright because I read here that the body style will be changing in 2007.
Can you please tell me if the lease is a good lease?
I'm looking for ACURA TSX money factor and residual value for April on a 36 month, 15k/yr lease from AHFC.
Many thanks in advance.
TC_EY
Instead of giving me a quote, he e-mailed back that his dealership will try and beat any quote I bring them in writing from other dealerships.
What is the best way to respond?
My instinct is to cross this dealership off my list.
I hate playing games.
Any help will be appreciated.
Thanks.
hpowders :confuse:
I am still in the market for a Sequoia. Can you tell me the current lease rates and residuals for April? I am looking at a 36mo/12K lease on a SR5. Thanks.
tcmotorcity
Any thoughts on whether I should buy it or give it back? I am more concerned with issues about maintenance/repair costs and reliability as opposed to the terms on the deal. Is buying a car off-lease a wise choice? I typically turn my cars back after a lease.
What should I look for prior to buying? What are the common problems that occur at what miles/age? Is a third party warranty a good idea/which company and type? Any suggestions, information or experience is appreciated.
Any information from anyone who has also bought off-lease from VW Credit would be appreciated, i.e. negotiation tactics or items, experience, etc...
Thank you for all your help - you guys are great!
Mark
I just wanted to share with you what I ended up getting. I did decide to trade in the leased Maxima because I estimated that I would be 25k miles over the lease at the end and needed tires, brakes and 464 a month for the next 12 months. The Dealer gave me 14K for my Maxima and sold me the Altima for 17995. According to Edmunds, these were both good numbers-especially for my trade. I ended up being 2k upsided down on my lease which I thought was not that bad considering I wouldve owed over $3.5K for mileage costs. They did hit me with a 10.5% finance but I refinanced same day with Capital One at 6.45%. My payments went from 468 to 406 and I now own instead of lease. Im happy/satisfied with the outcome. Now I just need to Altima to run well for the next couple years. :shades: Thanks for your help.
I'm in the Chicago area.
I've been reading through all the posts - thanks for all the great information!
I'm about to lease a V-series and want to make sure the dealer is on the up and up with their numbers.
cheers,
Frank
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If you were to lease a 2005 Chevrolet Cobalt through General Motors Acceptance Corp. right now for 3 years with 12,000 miles per, its base lease money factor and residual value should be 4.6% and 55%, respectively. As you can see, GMAC publishes lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rate into an approximate money factor equivalent by dividing it by 2400. When negotiating your lease on this car, keep in mind that GM is providing $1,000 bonus cash on it that will enable you to negotiate an attractive capitalized cost.
Good luck with your negotiations this weekend and make sure to let us all know how everything turns out.
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Also, if I fill in everything that the calculator can take, what would be due at signing? just the first months payment or would there be more other stuff?
Thanks
I ran into this when price shopping for a car for my wife. I send faxes and/or e-mails to a lot of the dealers and got back nothing from some and from others got a less than positive reply.
If you can afford to, I would just take your business elsewhere.
Dennis
I typically have low miles as well, and it pains me to think of turning in a car with too few miles on it. If we go over, then they charge us - if we come in under then we get nothing back.
Check the trade in and retail value of your low mile car. It is possible you could sell it or trade it in at lease end and make some money (selling my require you go through a dealer). Someone just posted that CarMax would give him more than the buyout on his leased car, for example. At least that way you avoid the turn in fee (if any) and get some reward for the low miles and good care of the car.
If you really like it, see if VW offers and extended warranty you can purchase.
Dennis