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I have a deal for 33K drive out on a new eddie bauer expedition, dvd, second row buckets and power third seat.....MSRP of 42,345....Getting it for 30,500 + TTL....so 33K drive out is the deal..my question is should I buy this vehicle or lease it? Its my wifes car and she would probably like a new car every 3 years but I want to do the smartest thing....let me know what you think..thanks
thanks
I am looking at the 2006 GS300 or 2005 LS430 and am trying to find out what the best lease should be for each.
For the GS300 the best I have seen in So. Cal is:
MSRP: $50,209
Sell Price: $47,995
Residual: $21,589
Money Factor: 0.0017
Term: 48 months
Miles: 15,000 / year
Down Payment: $2,000
Lease: $666 + Tax
For the '05 LS430 I saw the following post from 12/2004 and am wondering if this is realistic or I might even be able to do better.
MSRP: $62,489
Sell Price: $54,552
Residual: $35,562
Money Factor: 0.00188
Term: 36 months
Miles: 12,000 / year
Down Payment: $1,662 (1st payment+$200 down payment+$495 dealer fee+ some additional fees)
Monthly Payment: $738 (including 6% tax)
Finally, what would I expect to add for 15,000 miles/year?
Thanks!
Car_man
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Since you are seem to be to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. Once you have read these articles, stop back and I will be more than happy to answer any specific questions that you have on leasing.
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According to my calculations, if you were to lease a 2005 Volvo S40 T5 with an MSRP of $30,340, a selling price of $27,306, a money factor of .00175, and a residual value of 53% right now for 36 months, your zero down, pre-tax monthly payment should be around $388.
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Another problem that I have with this deal is the huge down payment that you made. 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 this Highlander would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all.
Anyhow, what's done is done. There's no reason to be upset about this deal now. Enjoy your new Highlander and make sure to do more research beforehand next time.
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Can you please refer to post 19156 about my question on the expedition? Thanks!
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TB
Please advise MF and res for Lexus RX330 AWD with Nav 36/15k in PA. Do you know of any promotions to lower cap cost?
Car man,
I have a deal for 33K drive out on a new eddie bauer expedition, dvd, second row buckets and power third seat.....MSRP of 42,345....Getting it for 30,500 + TTL....so 33K drive out is the deal..my question is should I buy this vehicle or lease it? Its my wifes car and she would probably like a new car every 3 years but I want to do the smartest thing....let me know what you think..thanks
Thank you so much on this information. These numbers will give me a better idea and the tools I need to negotiate my future M35.
By the way. What was the MF you used and residual ?
Sincerely,
Miguel.
Since I am moving from NY to FL, what are your opinions on getting the vehicle from another state like N Carolina?
Can you whip out your magic 8 ball of knowledge and work out the numbers as if I were buying from N Carolina? I'm not just pulling this out of my hat as a dealer in the State has been recommended to me.
I'd prefer to go with a financial company that supports lease tranfers should something happen financially, etc...
I know Toyota Financial has this, but as you state- I cannot lease from them down South.
I'm making a career change and either it will work great withint the 1st year or it will not. So, peace of mind knowing I can slap some nice pics on the 'net on the two big lease swapping sites and get out of a lease (if I ^really* needed to) would be worth any hassle of buying out of state.
I'm still in NY right now which is a horrible place to lease as you know. So, if you could work up the MF and residual for NE and I guess mid atlantic states- from Toyota Financial...I'd very much appreciate it.
BTW, what do you think of sites like leasecompare.com ? It's been advertised here on Edmunds, which is how I found it. It's a way to shop for leases.
Thanks in advance.
Regards,
Dean
Thanks
Dan
I read in an earlier post about Texas changing it's lease tax law. I wasn't sure to what degree it changed.
Also, I have the money factor on an Accord EX-L as 0.00113 and residual of 54%....is that correct?
Thanks a lot...going to buy this weekend...I'm excited and nervous.
BTW, thank you for your quick reply. I enjoy the car very much so I am not unhappy with the lease/purchase at all just a little curious now.
Anything for April on the RX-8? Last month you posted the $2,000 lease incentive (which was never posted on the Edmund's incentive page) and I was wondering if Mazda had any factory to dealer money on the RX-8 for April? Any lease specials?
Thanks,
Dennis
Thanks on the numbers for the 2005.5 Jetta - I was quoted 310/month. A little too steep for me! Was wondering if you could give me residual and money factor for a 36month/15000 mile lease for a CorollaS and the Mazda3S. Also if yoo could let me know of any lease specials this month for either that would be great! Thanks!
Thanks
Also... do they take trade ins on leases? Or is it better to sell PP?
Thanks!
Janell
Do you know the residual and money factor of 2005 Saab 9-3 Linear Sedan?
Is it too harsh to ask for an offer like this:
2005 Saab 9-3 Linear + auto. trans. + moon roof
With $3000 cash(down payment+bank fee+first month payment)
$270/month for 2 year lease with 12000miles/year.
Thanks a lot in advance.
Your help please...Current lease on 2002 Jaguar X Type was to expire 05-05. We took advantage of Jaguar's Loyalty Program and turned in the 2002 X Type with one (1) month remaining on lease receiving a $1,000. noncash credit applied to new lease (Jaguar Credit) for the S-Type.
The 2002 X Type, lease dated 2-16-02 through Jaguar Credit also, was for 39 months at 10,000 miles per year. We turned in the X-Type with the odometer reading 22,816.
Included in the 2-16-02 lease under the Section Extra Mileage Option Credit it states:
"At the scheduled end of this lease, You will receive a credit of .18 cents per unsued mile for the number of unused miles between 48,768 and 32,518 miles, less any amounts You owe under this lease. You will not receive any credit if the Vehicle is destroyed, if you terminate Your lease early, exercise any purchase option, are in default or the credit is less than $1.00."
Since I didn't have a clear understanding originally how many miles we would drive in this 39 month lease, I negotiated with the salesman and he agreed to 15,000 miles per year as an "insurance policy." since he wanted to move the X-Type. We received the above as stated in the lease agreement at no additional charge to us. I think my figures are correct... (48,768 - 32,518 = 16,250 miles. 16,250 x .18 = $2,925).
I bought this up a closing on the S-Type we leased 04-16-05 and the finance manager said you need to contact Jaguar Credit to resolve this "unusual issue". Now, Jaguar Credit informs me I didn't purchase the Extra Mileage Option Credit and they are right! But, I did indeed negotiated my "insurance policy." which was a lotof work and it is written in my lease dated 02-16-02. I feel that Jaguar Credit should honor this signed lease agreement.
Car Man, where do I go from hear? I feel strongly that I negotiated in good faith and the signed lease agreement is a legal and binding contract, but now Jaguar Credit wants to put up a fight.
Thanking you in advance,
Bill L.
Right now there are little/no deals on Avalons so this really should not be a car you are looking at IF you are unsure about your financial future.
The lease trade/swap sites may work - but you have to offer some incentive for the folks to take over your lease (rather than just get their own car). If you have to pay close to MSRP for the car and there are no Toyota incentives then your payment will be high. And why would anyone want to assume your high payment? Lots of extra miles and/or below average payment might lure someone into taking over your lease, but payments the same as they get from the dealer will not.
I would suggest getting something a lot cheaper - like a Honda Accord. With the current $750 dealer incentive and < 1% lease money factor you can get a nice car with a low payment. I even know of a cheap dealer in Atlanta you can stop in on the way down and pick up the car
Down the road a cheap Accord lease will be alot easier to you to afford no matter what happens in your career - and be more attractive to someone else assuming the lease should it come to that.
Also, you should not lease while still in NY - and if you are not moved (yet) then all the numbers will change by the time you do, so I am not sure asking here NOW will be much help. Keep in mind residuals decline in stages as the model year progresses, money cost is also on the rise right now as well.
Dennis
I don't think BMWFS does odd (30 month) leases, if they do I have never seen the rates published.
Dennis
2005 Pilot Special Featured Lease
$279.00 per month for 36 months
$1,999.00 capitalized cost reduction.
$2,873.00 total due at lease signing (includes first month’s payment, security deposit, capitalized cost reduction and AHFC upfront acquisition fee; total net capitalized cost and base monthly payment does not include tax, license, registration, options and the like).
Model YF1845EW (2005 Pilot EX)
Special lease rates available on all new 2005 Pilot models. Subject to limited availability. The specific featured lease listed is not available to New York residents. New York residents should contact their dealer for New York featured lease. Terms and conditions vary for New York Residents. In addition, AHFC limits leasing terms to 39 months or less to residents and dealers in the state of Rhode Island.
Offer valid through 5/2/2005 for new and unregistered Pilot vehicles only and only on approved credit by HFS (Honda Financial Services) through participating dealers. HFS' standard credit criteria apply. FEATURED SPECIAL LEASE: Closed-end lease for 2005 Pilot EX (Model YF1845EW). MSRP $30,635.00 (includes destination). Actual net capitalized cost $26,788.66. Dealer participation may affect actual payment. Taxes, license, title, registration, documentation fees, options and insurance extra. Total monthly payments $10,044.00. Option to purchase at lease end $19,300.05. Lessee responsible for maintenance, excessive wear/tear and 15¢/mile over 12,000 miles/year. SEE DEALER FOR DETAILS. The specific featured lease listed is not available to New York residents. NY residents should contact their dealer for NY featured lease. Terms and conditions vary for NY Residents. In addition, HFS limits leasing terms to 39 months or less to residents and dealers in the state of Rhode Island.
Notice it says: "Actual net capitalized cost $26,788.66". Dealer invoice on this truck is $27,611, but looking at carsdirect.com with an Atlanta ZIP I see a dealer will sell it for $27,311 (there is over $900 in dealer hold back on this truck).
If you get the cap cost - net price after dealer discount, cash down, or trade to this number then your payment will be $279 per month plus tax. The tax varies with where you live, but for MOST states it is charged on top of the monthly payment.
What you do:
1) Negotiate a low, low price on the truck
2) Negotiate a fair price on your trade - or sell it yourself
3) Make sure the dealer gives you the "buy rate" on the lease special
You should come out OK.
The Pilot is a nice truck, but the horrible EPA numbers (17 city,22 highway?) might make you think about something that sips at the pump a little more
Dennis
I'm looking to lease an '05 Pathfinder SE with the P01 package in Chicago. I looked in Indiana and I was offered a montly payment of $304 and then when we reminded the dealer we lived in Chicago they came back with $350 which was acceptable a few minutes later they said that because we actually lived in the city we would have to pay city tax as well and this would put the monthly payment over $400. I know you have to pay taxes up front on a lease in Chicago and on the monthly payment, but were they trying to gouge us?
Thanks
First, the $200-$750 dealer incentives that have been mentioned, is that a national program? How does it work? $200 for the first X number of cars that a dealer sells, going up from there based on total vehicle sales?
Second, if my reading on the forums is correct, I've gleaned the following numbers for 2005 sedans (3years / 36000 miles)
Civic EX: .00136 Money Factor and a 56% residual (which is based on the Base MSRP)
Accord LX (both the V6 and 4cyl): .00038 and 53%
Accord EX: .00113 and 54% (Is this on the base as well as the EX-L?)
Are the numbers the same for the coupes?
Thanks for your help!
The high volume, aggressive dealers "know" they will make their goal so they have been offering cheap deals all month. With others you might have to wait until the end of the month, they will have either made their number or need your sale/lease to hit it - in either case will be a lot more willing to deal.
Those numbers sound right, to check just search this thread for Accord to see. car_man has posted 53% for the LX I4, but my wife's lease was at 54% (as is the sample promo lease on the Honda web page). In any case, the dealer can't change the residual so you know you are getting the "right rate" on that.
As a barometer, go to carsdirect.com and check prices at your zip code and see what comes up. If a dealer in your area is dealing down into the holdback you are in luck!
Dennis
i was all set to purchase an 05 pathfinder for $35,000. including tax, title, everything else it was going to be $38,000 even (6.5% sales tax). i plan on owning this car for the next several years, so i wasn't even thinking of leasing but the salesperson put some details of nissan's lease to own program and it seemed interesting. need ur help to see if this is a good deal or not. details are as follows:
39 month lease
monthly payment is $350
amount i write the dealer a check for the vehicle at end of 39 months: $21,200
$5,000 down payment
no other fees or charges according to dealership.
by my calcs, my total out of pocket costs if i purchase the car after 39 months is $39,850. if i financed the car for 3 years, $5000 down, 4.5% rate, my total cost would be $40339. the advantage of the lease is lower payments for 3.25 years but then i have to come up with the 21,200 at the end of the lease (that's fine with me). i want to minimize my upfront and monthly cash costs and the lease seems to do this. am i missing anything? thanks for your help
My local NJ dealer offers on a new 2005 Accord LX-4, 4dr auto; $159 x 36 months, $2699 total cash plus m/v-registration.
1. Could I get the cash way down, maybe to the $1000 - 1500 range?
2. The quoted residual is $11,388 - doesn't this seem high?
3. We want to take delivery and pay in late May, but dealer says the lease deal ends around May 1, with any new deal to be higher cost. Any thoughts on that?
thanks in advance!
Thank you very much for the response! I'll go ahead and perform some research on the Audi A4 you suggested as well as the Saab 9-3. On the Sebring, I've heard that many times (regarding a horrible residual) ... I'd end up spending as much leasing that as I would a vehicle that was 10k more. As far as the MINI is concerned, that choice wasn't "allowed".
Thank you again! I'll continue to research and update what I find ...
Thank you much for the suggestions ... all of those vehicles have been "ruled out" by the significant other ...
I'm showing her the Audi and the Saab now to get some feedback.
Thank you again for the thoughts! I really appreciate it!
I took a look at leasecompare when I saw your note. It looks pretty cool, but I think their purchase prices are a little on the high side ... It would probably be excellent for creating a baseline though.
2005 G35 coupe, automatic with premium package
MSRP is $35610.00 selling price is $33409.00
36 months/12000
residual value is 61%, cap cost reduction is $2085, aquisition fee is $915, money factor is 0.00188
Car is in california with 8.25 tax.
The dealer is saying that monthly payments come out to $425, but I am getting different numbers from various online calculators. Any advice? Is this a good deal? Why are my numbers different from the dealer's numbers?
Thanks
Arthur
Do you know the residual and money factor of 2005 Saab 9-3 Linear Sedan?
Is it too harsh to ask for an offer like this:
2005 Saab 9-3 Linear + auto. trans. + moon roof
With $3000 cash(down payment+bank fee+first month payment)
$270/month for 2 year lease with 12000miles/year.
Thanks a lot in advance.
Need to know if I am getting a good deal on a lease for the G35 Coupe. 39 months with 12K per year.
MSRP is $36,260 for the base car plus premium pkg P01 and the 18" Tire Pkg.
T01. Dealer will charge me $33,620 which is $400 over invoice. I am putting one month down ($467) and a $795 Bank Fee. The residual is $21,918 and the money factor is .00215. I don't know if the money factor is the best that Infiniti can do. How can I find out?
New York state sales tax is 8.75% but that should only be on the difference between the dealer price quoted and the residual right? Dealer also says there I have to pay sales tax on the Bank Fee is this correct? They are waiving the security deposit. The monthly payment is $467. Do you think the dealer can do better?
Thanks,
Bonnie
The MSRP is $29,500 - the dealer is taking $2500 off so the selling price is
$27, 000.
Again, I would like a lease price with $1000 down , 36 months/12K miles
the Nissan Exterra SE is loaded and the only additions would be splash guards, bumper guards and side rails-
Please advise on a lease price. thanks