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Still looking for the best overall deal on any of these:
Audi A4 -- Salesperson believes lease deals will get better. This may explain why their current deals end May 16. Four years ago I was able to lease a '01 TT at a great deal. Shopped and shopped and he was $100 lower than everyone else on the same car. At that time I got a residual value of 59% on a four year lease! Shopping now, I'm having trouble getting a RV greater than 58% on a three year lease for any car. What's going on?
Infiniti G35 coupe -- One salesperson said he was giving me the .00199 money factor, but his payment didn't come close to my calculations. Another won't give me the low rate MF without sitting down with the finance manager. These guys are trying hard to make more money on the lease. In post 20108, you have different MF and RV for a G35 2WD sedan. Can those values apply on a coupe?
Saab 9-3 Linear Conv. -- Haven't test driven this yet. In a previous post you said there is a 2 year lease with monthly payments of $345. Can you give details on this deal? Is there an ad I can refer to when I visit the showroom?
Lexus ES or IS -- Will test drive this weekend. What kind of deals are others getting?
Volvo S60 T5 -- Still in the running, but haven't started dealing yet. How have others done?
Well, for warranty items they are free if you go to the dealer, for oil changes and things like that (probably the only thing your service schedule will call for during your lease) then you could go some place else to have the work done. Just save the receipts so you have proof of the work. I prefer to use the OEM filter, so you can order some from a discount Lexus dealer online.
20 miles really is not that far, and Lexus will probably give you loaner car if they can't get right to your oil change (my BMW dealers does this too) - so other than a premium price they will charge, you might just go to the Lexus shop.
There may be a way to reset the service light, someone that works on Toyota/Lexus probably has a tool to do this - just like the indy BMW shops have reset tools for those.
BTW, unless there is something wrong with the car I can't recall ever hearing of anyone asked to prove they maintained the car when they turned their lease in.
Dennis
thanks for the feedback. That was still with nothing down but the first month and security? That particular dealership has a horrible rep anyway - but he sent me numbers and it was a starting point for me to get a sense of what payments should be. Interestingly, two separate dealersz sent me pricing also on the XC70, assuring me it was the better deal of the two. I dunno...a dealer pushing me into a less expensive car makes me think that maybe...just maybe...there's more profit in it for them.
$625 is the actual acquisition fee and the dealer has marked it up for an extra $200 in profit.
This is the cost of starting the lease - all lease banks charge several hundred for this - no way around it.
In this case, the dealer is pocketing $200 extra profit and sending the $625 on to BMWFS.
$329 is their "doc fee" - all dealers seem to charge this now. This is supposed to cover the cost of doing the paperwork, title your car, getting the tags, etc. In reality it is just extra dealer profit. They even have it pre-printed on all their forms so it appears "you can't change it".
What you have to do is comparison shop for your truck and compare prices including the truck, destination, and dealer fees. Then those that charge really high fees will be account for in your comparison.
Based on: jacked up money factor, jacked up acq fee, and $329 doc fee I would bet you are talking to BMW of Nashville. Part of the Sonic Auto group they have to make money on everything and would rather you walk away than get the buy rate on a lease. You may have better luck than most, but you will likely waste a lot of time trying to squeeze a deal out of them.
The good news is the service department is fine (if you have a warranty) and will not care that you got your truck at some other dealership.
Try BMW of Bowling Green, or "my guy" down in Augusta.
Dennis
The incentive as said is $1500.
What they offered to me is:
The MSRP $35,690
Vehicle Cost to least is $33,695 <=== is this good enough??
MF is 2.2 ( I have to negotiate this to .002 for buy rate)
GRS CAP COST: $35,158.60
NET CAP COST: $35,020.60
What are these CAP COSTS they used on my lease quote????
No security Deposit because this is my 2nd lease.
Cap Cost reduction is $138 (part of $1,000 due on signing which includes 1st mth payment and other fees)
for 3/30k it came up to $519/mo <=== good deal ???
Please advise...Thanks a lot!!!
The gross cap cost is the price of the car ($33,695) plus any other junk that the dealer has rolled into the lease. The difference is $1,463.60 . I think you said you are in NJ, so a little over $800 of this is tax. You need to find out what else they stuck on there. Since you are paying $1,000 down and only $138 is going towards the cap cost, you are paying $862 + $663 worth of some other "fees" to get the lease. The acquisition fee should be $625 - I have no idea what these others are.
If they are all legit, then get them to lower the price of the car by $500 or so and give you the 0.00200 money factor and it would sound like an OK deal.
Dennis
Lease payments as follows:
term 39
miles 12,000
due at signing $959
monthly pay. $394.70 NJ tax & lic fee included
M.F. 0.00229
residual 52%
Those this sound good? I think I should get a better M.F, plus I rater lease only for 3yrs
what are the money factors and residuals for these vehicle. i live in new york state. thanks for your help.
apress
Help. I have leased a Honda Odyssey 2001 before, but don't remember all the specifics. I've bought since then. Mine and my husband's scores are VERY high and we have excellent credit. I am currently in a 2004 Honday Odyssey EX. I am happy with it, but thinking of an SUV; Toyota 4 Runner Sport. So I am wondering should I lease or buy? How do you know if a lease is better? What are all the . somethings you all are talking about? How do I know what is a good lease and what is not? The reason I am even thinking of it is I put nothing down, got my odyssey for invoice for 25k with options so my payment is $465. I think that is a lot and would like to be in a nicer 4 runner for less. When I leased my last oddy; though an LX, I paid $350/mth.
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,
Also: how can I learn how leases work/educate myself. I seem to get tired of cars/vans and trade pretty fast... so a lease may be best?????
help?????
please
MSRP $37,039
negotiated cost - $33,166
factory rebate - $4000 (includes $1000 if financed through Chrysler Financial)
lease term - 39 months
RV - $20,248
MF - .0028
acquisition fee - $645
payment - $357.86
Lessor - Chrysler Financial
In comparing other lease deals out there, my monthly payment would be higher, MF would be much lower, but the RV would also be much lower (and I would lose the $1000 rebate). Seems Chrysler is subsidizing the RV while charging a higher MF. Yet it's the best deal overall I have found. What do you think?
'Waiting with baited breath, but 'haven't seen your update yet on the latest money factors and residuals for Honda's May program for the '05 Odyssey EX (cloth). I'm interested in a 36 month, 15K lease.
Can you enlighten us?
Thanks -
429
***
Hey Damon. Sorry, I didn't see your post when I was on-line yesterday. Here is the info that you are looking for. If your mother was to lease a 2005 Jeep Cherokee Laredo 4x4 through Chrysler Financial right now for 36 months with 12,000 miles per year, its base lease money factor and residual value should be .00206 and 53%, respectively. The numbers for an otherwise identical 39 month lease should be .00214 and 52%. I don't believe that Chrysler Financial offers leases with only 10,000 miles per year. Its base lease acquisition fee in your state is currently $550. DaimlerChrysler is currently providing $2,500 lease cash plus an additional $1,000 bonus for going through Chrysler Financial, $3,500 total, that will help you to negotiate an attractive capitalized cost on this truck. If you can find one that has been on a dealer's lot since July 1 of last year or earlier, there is an additional $2,000 bonus on it.
***
And here is some interesting news.
The dealer gave my mom a money factor of .00015 (not .00214) for the 39 month lease, but in doing so she had to forgoe the extra $1000 lease cash. According to the dealer, if you take the lease cash you then need to take the higher money factor. He said he worked the numbers and it was to her advantage to do so this way.
Additionally, the acquisition fee was $700, not $550. But by paying the $700, my mom did not need to put down a security deposit.
Finally, for leases in NJ, it seems like most deals now include the sales tax as a limp sum into the lease vs. paying it monthly. So when people from NJ are reporting their deals and thinking they got ripped off, sometimes the cap cost includes $600 or more of sales tax - just something to keep in mind.
Anyway, my mom did Ok overall. She leased a 2005 Grand Cherokee 4x4 with an MSRP of $29,145 with 12k miles/yr. for $359/month and with no money out of pocket (all state fee, taxes, dealer fees, acquisition fees, 1st payment rolled into lease).
***
Based on her deal, I think you can do about $20/month better (partly due to the inflated money factor) and less $ out of pocket.
Good luck!
Damon
Thanks
Take away that requirement, and you have the Saturn ION, Honda Civic, Mazda 3, base Acura RSX, Honda Accord LX... all nice cars, but no AWD...
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Dennis
2005 Forester X models $1,750
2005 Forester XS models $1,300
2005 Forester XT models $1,500
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That might work for some people, though...
Actually, the website shows $189/mo..
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The details from Mazda are:
2005 RX-8 6-Speed $299/Month, 24-Month Lease, $2,598 due at Lease Signing. Includes 1st Month’s Payment and Security Deposit. Excludes taxes, title and fees.*
* The Amount due at Lease Signing is higher in the following states: Arkansas ($2,927); Kentucky ($3,026); Louisiana ($3,125); and Missouri ($3,240).
* Dealer participation required. Not all lessees will qualify for lowest payment through Mazda American Credit. Some payments higher, some lower based on residency and other factors. Not available for NY residents. Lessee responsible for excess wear and mileage over 24,000 at $0.15/mile. Total payments of $7,176. Purchase option at lease end for $16,187. Take new retail delivery from dealer stock by 5/31/05. See participating dealer for qualifications.
From this what I figured:
The residual is at 59% for this.
If you take the money shown down and remove the first payment and security deposit you end up with $2,000 as a "Cap cost reduction" (down payment).
If I take the invoice price ($25,638) - $2,000 from the customer and a 24 month term and a money factor of 0.00001 (free money) I get a payment of $310 per month. So we know the MF is not 0, so there must be more incentive to take the selling price under invoice.
If I use invoice ($25,638) - $4,000 ($2k from the customer and $2k from Mazda) then the MF works out to 0.00190 (4.56%) with a $299 payment.
If you say the MF is actually 0.00107 (assuming this is the same 24 month special) then the net cap cost would be $22,372 or invoice - $3,266 with $2,000 coming from the customer and $1,266 coming from the dealer. Note that this net is $372 higher than what the dealer quoted you for the car.
So if the customer decides not to put in the $2k, the payment rises to $384.44 per month + tax. If you roll the $495 acq fee into the lease then $405.59.
In your case a $399 "fee" (man that is high) and $1,236 in taxes and I get $475.47 with deposit and first month's payment due.
So I am not seeing the $503 payment, must be more stuff stuck on the cap cost?
Anyway, the $299 special goes up to $475 or $503 in your case - with nothing down. Still, not bad for a 24 month lease w/$0 down. You should ask the dealer is this good on something other than the base car and do they have similar deals on a 36 month lease - which would normally be a good bit cheaper per month.
You also don't really want the base car, get at least the sports pack - xenon headlights, stability control (big plus in a RWD car), traction control, and fog lamps. Of all the packages it gives most bang for the buck.
Dennis
What are the latest MFs/Resids on these vehicles, assuming 15K miles?
Dodge Dakota Quad Cab 4X2 Laramie.36-48 mos?
Dodge Dakota Quad Cab 4x2 SLT 36-48 mos?
These are for my stepdaughter...her credit score is about 700...can she get into a lease with a score like that?
As always, thanks!
Chigirl
PS I'm still doing my looking , will probably do my deciding this weekend on my deal!
Considering leasing an MDX Touring. Have been shopping around for several weeks via Internet/Fleet Managers. Here's the best numbers I've gotten:
Gross Cap Cost - $35,500 + 595 Acq Fee + 45 doc fee
Out Door - $2K (1169 Cap Reduction + 433 1st mo + 292 Reg + 8.75 CA Tire)
36 mos/12K per year
Residual 61% = $24579.95
money rate of .00188 and a payment of
$400.60 plus tax = $433.65
I think this sounds pretty good. What do you think?
I am not personally all that familiar with what the market is like for this vehicle in your area right now, but you may be able to get an idea of who much you should pay for it by visiting the following discussion: "Subaru Impreza & Impreza WRX STI: Prices Paid & Buying Experience". For now, I will calculate a sample lease payment on this car for you based on a selling price of $1,000 over invoice. If you are able to negotiate a lower selling price than this, your lease payment will be lower. According to my calculations, if you were to lease a base 2005 Subaru WRX Sedan with an MSRP of $27,120 and a selling price of $26,431 through Subaru's captive finance company right now for 3 years with 12,000 miles per, its zero down, pre-tax monthly payment should be around $400.
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I notice that you are considering making a $2,500 down payment on your lease. 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 X3 would be exactly the same, regardless of whether you had put $2,500 down, or had made absolutely no down payment at all.
BMW Financial Services' charges an acquisition fee on every vehicle that it leases, however its base acquisition fee is currently only $625 in all states but New York. The additional $200 that your dealer is tacking onto this fee is nothing but profit for them.
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Thanks.
Thanks for your help!!
Awesome forum. Thanks for all the help you have given so far.
I am looking at a 2005 Escalade EXT. GMAC Leasing is offering what appears to be a pretty good subsidized lease deal. Their advert says '0 Down, $694./mo.' When I e-mailed for details this is what I got:
" This model is the "select edition" which includes a sunroof, DVD
navigation and chrome wheels in addition to all of the standard
Escalade equipment (Bose stereo, with 6 disc CD changer, etc.).
The lease is a 48 month, 48,000 mile lease.
As spelled out in the "fine print" - tax, tag and state of FL fees
must be added and your first payment is due at signing - total amount
at signing would be $1,150.00 - again that includes your first payment
- so you would have 47 payments remaining at $694.43. "
I asked for more specific details and found out:
" MSRP is $57,675
$4,250 is the cap cost reduction
this is a 12,000 mile per year lease - total of 48,000
residual is 53%, money factor 4%
20 cents per mile if you go over
if you would be more comfortable with more mileage - they can be purchased "up front" for 15 cents per mile "
So......what do you think? 53% residual for 4 years seems generous but the Escalades have been very highly rated and seem to be holding their value well. I know you do not recommend leasing for over 36 mos. The Cadillac warranty is for 48mo/50K.
Like I said, I realize this is a 'subsidized' lease but here is my quandry....I will put 28K miles a year on this vehicle. It may be worth it for me to just lease for the lowest amount out of pocket at this time, drive it like I own it and then just plan to buy it at the end. Maybe just take my chances on the residual vs. actual value in 2009. I figure I can haggle with GMAC on my buyout price anyway.
I'd really like to know what you think.
Thanks in advance.
05 V6 4x4, SR5 sport w /moonroof, rear spoiler
Lease details
3y/12k miles
0 down
MSRP: $33,050
LEV % 100.00
Lease end value: $20,094
initial cap cost: $30,905
adjusted cap cost: $ 31,305
MF: .00171
Monthly: $424.00
Please advise if this deal seems ok
05 V6 4x4 Toyota 4Runner, SR5 sport w /moonroof, rear spoiler
Lease details
3y/12k miles
0 down
MSRP: $33,050
LEV % 100.00
Lease end value: $20,094
initial cap cost: $30,905
adjusted cap cost: $ 31,305
MF: .00171
Monthly: $424.00
Please advise if this deal seems ok
Since your MSRP is lower your invoice should be lower - so the price sounds too high to me. Check at carsdirect.com with your ZIP code and what price comes up.
If I plug $30,905, $20,054, and 0.00171 into my lease calc I get $399.31 per month. So I assume your payment includes sales tax?
The $400 bump in the cap cost is you rolling the acq fee into the lease? Or is that already in the cap cost?
Dennis
I should have asked for these numbers when I was at the dealer but I wasnt so informed then
anyways lets try these numbers,
the MSRP price of this Service Loaner vehicle was $32,050. This car has 7k miles on it.
with discounts they said the selling price would be $28,000 (which is the selling price of invoice).
additional Lease details are:
Lease details:
$ 2500 down
15K miles/ year
Closing costs around $1000
3year/36 month lease for $ 400 a month.
Please advise, thanks much!
here are the numbers from carsdirect for MI, 4x4 SR5 sport V6
MSRP: $ 31, 905
Invoice: $29,115
Cars direct price: $29,290
and yes $424 includes tax.
$400 bump in cap cost does seem to be Adjusted Cap cost (rolled into initial cap cost which is $30,905.0).
with these numbers what lease payment would you get??
thanks much!!
If you leased at the $29,290 price from carsdirect the payment would be $339.89/month + tax. If you rolled the acq fee, etc in to pay less up front the payment would be higher.
Dennis