Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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Invoice is $36,572 - so $37,700 is not TERRIBLE for a BMW, mark-up wise.
I think $625 is the actual acquisition fee and the dealer has marked it up for an extra $200 in profit.
Which dealership is this? I posted another reply to you with a couple of different dealers you can try.
Dennis
Got a link? I looked and did not see any RL lease promos on there. Could be a promo deal, or could be a LONG lease or require a ton off up front money.
The new RL is a nice car, but its residual is dragged down by the poor sales and resale value of the older (not nearly as nice) RL. The older RLs can be had really cheap now that the bottom fell out of their value - and at these much discounted prices is not a bad car
Dennis
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If you opt for $0 cap cost reduction then the payment is $656.58 + tax with $595 + $656.58 + $656.58 due at signing (plus taxes and fees). $663.92 would be the payment w/o no cap cost reduction and a waive security deposit - only $595 + first month due. $677.69 if you roll the acq fee into the lease.
Worth noting that this deal calls for $1,073.51 worth of "dealer participation" (discount). So I would assume that you do a shorter term lease or 3rd party lease with at least that much discount. The new RL is nice, but the new M and GS are nicer cars and all prices are in the same range - where buyers may be in short supply - so time to deal.
Dennis
2005 RL AHFC STANDARD FEATURED LEASE
Lease rates available on all new 2005 RL models. FEATURED LEASE*: *Available in all states except Alaska and Hawaii* 2005 RL V6 5 Speed Automatic Transmission with Navigation System (Model KB1655KW) for $599.00 per month for 48 months with a $2,500.00 capitalized cost reduction. $4,294.00 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). Not all buyers may qualify. SUBJECT TO LIMITED AVAILABILITY. Offer valid from 05/01/2005 through 05/31/2005. *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 for new and unregistered vehicles and only on approved credit by AHFC through participating dealers. AHFC standard credit criteria apply. FEATURED LEASE: *Available for all states except Alaska and Hawaii* 2005 RL V6 5 Speed Automatic Transmission with Navigation System (Model KB1655KW). MSRP $49,670.00 (includes destination) Actual net capitalized cost $46,096.49. DEALER PARTICIPATION MAY AFFECT ACTUAL PAYMENT. Taxes, license, title, registration, documentation fees, options and insurance extra. Total monthly payments $28,752.00. Option to purchase at lease end $24,835.00. Lessee responsible for maintenance, excessive wear/tear and 15¢/mile over 12,000 miles/year. Lease rates subject to change without prior notice. SEE DEALER FOR DETAILS. AHFC does not offer leasing to residents and dealers in the State of New York and AHFC limits leasing terms to 39 months or less to residents and dealers in the State of Rhode Island.
Thanks.
I double checked, the invoice shown here on Edmunds for the EX-L w/DVD is $30,937 . It is a little different depending on where you look, but you are still $1k or more away from that.
If you post your base payment we can check to see if they stuck more profit on the deal or not, but I would get another $1k off the price before I signed.
Dennis
It is possible that your "Selling price" includes the acq fee, since I can't get to $450 a month sign and drive. Find out if that is true, if so that makes your deal $595 better
You can check here in the Honda Pilot: Prices Paid & Buying Experience Forum for what others in NJ are paying for Pilots. I know in Accords, Open Road/Jersey Honda and others are dealing really low.
Dennis
I wanted to lease a 05 Acura TL w/ navi(5AT) this weekend. Could you please tell me the market MF and the RV? My lease term would be 36 months and 15K per year. My county tax is 7.75% and my credit score is 730+. I've been shopping around and the MSRP is $35,670 and they're offering me the car for $33,555.13
May be I can get them down to $33,000 even, if not I will have lease it at $33,555.13. Can you give the info with 0 down or $2000 down?
Thank A lot
Ken
But, I'm just guessing...
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Have a couple months left in a 9-5 lease and need a bigger car. Shopped the XC90, then contacted a broker thinking it would make things easier. Here's what he gave me: 2.5T with convenience, climate, versatility, park assist and metallic, all for 43,880. To lease for 4 YEARS, about 1162 down (first month plus security) then 562 mo plus tax. I've looked at the Volvo boards and that seems high to me. Tha rate was 3.91, so maybe it's just the price that's the problem. Any thoughts? It seems there are no lease deals right now on the Volvo...
thanks.
Thanks!
I posted a message a few days ago asking for the current money factor & residual on the GMC Envoy SLT, but never saw a response. Any chance you guys can dig that up? I'm in Chicago, if that helps at all.
Thanks!
I saw your earlier post about 15k miles and 36 months for G35x sedan. I just want to get info (MF and Res) and confirm, info for 36 & 39 months, 12K miles.
Also, the MF jumped up quite a bit from April, ouch.
Gregg
They are overcharging you by 0.0002 - so it will take you 4 extra security deposits ($2k or more total on the truck you are looking at?) just to overcome this dealer gouging - and 5 before you truly save money.
Dennis
Got a quote from a BMW dealer for a 2005 325i w/ C weather Pkg.. in MI
Car has around 7K miles (was a demo car).
Lease details:
$ 2500 down
15K miles/ year
Closing costs around $1000
3year/36 month lease for $ 400 a month.
Is it worth it or not?
Many thanks for your advise
What is the MSRP and what options? What money factor and residual are they using? This is most likely a service loaner, and I know when I had/have my 330i or M5 in I might drive the BMW service loaners a little "harder" than I should - and I am probably not the only one
For example, a 325i w/premium and auto would have an MSRP of $33,570 and should be purchased around $30,300 with the dealer money available. With a 54% residual and 0.00225 MF it would lease for $447.08 a month + tax with no cap cost reductions (just acq fee, security deposit, and first month's payment due at signing). With a $2,500 cap cost reduction the payment would be $371.01 a month + tax. These would be for 36/45k leases on a new car.
Dennis
Let me add my voice to the scores of others complimenting you on your site. Lots of helpful information. I also appreciate that you don't get cranky even when we ask you the same question that you answered several posts earlier!
Dennis, thank you for taking time out of your day to research people's questions.
Ok, now down to business. I'm in a tailspin. I contacted you originally about leasing a used 04 Accord. You said why lease a used when the programs for the new look so good. I said to myself, hmnnnnn-started looking for new. Got email quotes and lots of duplicity. My local dealer told me that $500 above invoice was a great deal. He saw the back of me as I unceremoniously walked out of the dealership. I started looking for the May incentives for the Accord and in the process heard about the RX-8 lease. On a whim I walked into my local mazda dealership(Virginia) and they have a base model, manual. I asked them to crunch the numbers for me and give me all the details.MSRP $27,395, Sell Price $24,000, Acq fee $495, Processing fee $399, Taxes(state and personal property) $1236, Security $550, Disposition $0, Only SD down, money factor .00107, residual 59%. Monthly payment $503. Comments? MF right?
I just got a quote from a Volvo dealer on the XC90 via e-mail. AWD, Versatility, climate, premium and metallic paint. On Volvo's site, the MSRP is 43,995. He offered me an Internet SALE price of 39,699.00, which is about 1k less (I think) than the TMV price on this site. Plus tax, but no fees. For the lease, he said sign and drive was 549/mo, 51 months, 48k miles.
Here's the rub - I read that there was a 3k to dealer incentive.
Two quick questions - I know dealers don't realize all of the incentive on a lease, but the numbers between the two seem off. Or am I wrong? Never was good at math.
If the price of 39,699 includes the dealer incentive, I get a true invoice of about 37,755 on that car, which leaves a very big mark-up for the dealer. Should the sale price be lower? If the deal is good enough, I may buy instead of lease.
Thanks so much. This entire site is really of incredible value and I really appreciate any help.
Furthermore, if I were to go to a local auto shop, is there a way for them to reset the service maintenance light on the dashboard?
Thanks.
So 51 month is a rip off.
Now that you know invoice and you have seen what two sources tell you is a good price for the car, you have some idea about where you should be. If there are no incentives or rebates, then start near invoice and go up - don't start and full price and go down.
Dennis
I have a 3.25% apr on the current odyssey. So I am in good shape. but if I buy a toyota, then I am in for an even higher payment.
Are there options? Can a lease let me drive a 4 runner cheaper than my oddy?
Or should I just stay put???
HELP... What do I ask the dealer for about a lease?? Then I can tell you what they say.
Any advice????
We are a military family with 3 children, so we need to keep payments low. We can swing the oddy, but we are kind of "sick" of a van.
Thanks,
Thanks
Thanks in advance.
Could you please tell me the current MF and residual for a 3 year lease on a Volvo S40 T5, at 10,000 miles per year?
Thanks.
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As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: sysop, "Real-World Trade-In Values" #, 15 Dec 2000 2:07 am. One of our most knowledgeable community members, Terry, frequents that discussion and he is often kind enough to give community members who give him an accurate description of their vehicles with his opinion on their value.
You aren't going to be able to get out of your leased RL several months before the scheduled end of your lease unless it is worth more than some dealer is willing to give you for it as a trade, which is unlikely. Your least expensive option is probably to wait until June or July to get a new vehicle.
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Now, I just wish we could find me a car!