I am looking to lease an 05 Sequoia Limited, with the only option being with a rear spoiler and the 6CD in dash changer (but I believe this is standard on the limited). I live in Florida (Miami-Dade County) and want to get this deal done before May 31st. Toyota currently has a 1000.00 rebate on the Sequoia.
Can you tell me what the residual value and money factor should be for this vehicle? I also know that Toyota currently has a lease package for a base SR5 for $399.00 per month with $0 down for 48 months, 12k a year.
I am looking to lease my vehicle for 39 mths at 15k a year, $0 down (except `at month and incidentals) and want to know if it is possible to work my vehicle within this package, adjusting of course for the type of vehicle.
I calculated through Edmunds that the invoice on the vehicle I want is $39025.00 minus the $1000.00 rebate puts it at $38025.00. I was in a dealer the other day and the way they were structuring their numbers (without going into detail due to time constraints) was showing me invoice of the vehicle, reducing this number with the $1000 rebate, and then adding 3% for their profit.
Bottom line is I want to go in there tomorrow with numbers in my hand and say this is the deal I want, I have my checkbook with me.
Can you give me the right numbers on this car and also tell me based on the terms I want the vehicle for how will this effect the monthly rate? (39mth and 15k instead of 48 mth and 12k) I was also curious to know your thoughts on what the dealer told me about their calculations.
Thanks so much for the help and hope to get a quick reply since I wanted to go in tomorrow to the dealer. Sorry if this was confusing or involved....
I wish it were the case, but I doubt that is accurate. As I understand it, once I assume the lease, the lease is in my name and I would be liable for all damages, wear and tear and excess miles.
In any event, I'm looking to get any feedback from someone that has gone through the lease transfer process with IFS (or any bank) to determine how long it actually takes.
Both the current lessee and myself are motivated to get this done, so we'd move as fast as possible. If it takes a week or two, I can wait, but if it takes 6-8 weeks (as the IFS rep told me) then I will take the deal I have on the table for a new 05 coupe from the dealer.
Yup. It is amazing that BMW does as well as they do given the constant lambasting they get from the press and ordinary folk for turn-off exteriors, overly complicated iDrive and diminished quality. They couldn't even get comfort access ready for the 3 series release. Who is managing that company if anybody? As a person who has driven nothing but BMW for the last 12 years, it is most discouraging.
I see that VW is currently offering a cash to dealer incentive of $2K on the Touareg. Is that money in play when I begin negotiating cap cost on a 3/36 lease?
Maybe security deposit is being waived, with corresponding bump in MF? Or, acquisition fee is being added to cap cost? And/or, they are bumping up the money factor?
One or more of those three items is probably the answer...
From what I know of lease assumptions, you are correct... you are liable for all of the charges..
But, IFS holds the original lessee liable, in case they are unable to collect from you...
But, that shouldn't matter to you... though it may matter to him..
On another board, a BMW lessee transferred his lease to another person.. He said it took four weeks, and that was with him doing everything possible to expedite it as quickly as he could.. He said it could easily stretch into six weeks, if you were lax about the paperwork.
Car man, can you tell me if this lease is any good on a 2005 FWD Lexus RX 330 with all options EXCEPT Mark Levinson and rear dvd:
MSRP: $43,683 Price $39,146 48 mos./15k miles Residual: 44% Money Factor: 00065 9 Security Deposits totaling $4500 (refundable at end of lease) $1900 down payment Monthly payment which includes taxes: 475.69
thanks KYFDX. its an 06 525...i was very happy with the price (1200 over invoice) from a very big dealer that isnt known for its great prices.
there is a 700 security deposit included in the total due at signing. he is using the 900 acquisition fee to reduce my cap cost of 3000 to 21000. what-the-heck! i thought if you do a zero-down lease, the total drive-off costs are 1700 (which includes acq fee, no?)...so the extra 3K i wanna throw in is purely psychological...id like to keep my paymetns in the low 500's....which is how i get the 4700 total due.
so if i wanna get the pmts to 520+tax i should have a total drive-off cost of $5600?
Look at it this way.. He is giving you a low purchase price.. He is using the base money factor and the base acquisition fee. Not a bad deal.
Of course, the car is still fairly expensive to lease, because there aren't any low money factor incentives..
Putting a lot of money down, to get a lower payment is just playing mind games with yourself, though...
My advice: Just make the 1st payment and security deposit... Given the rest of the terms, you'll have a good lease price.. It just won't look as good as $520+tax... In the end, you'll pay about the same amount. With just 1st payment and security deposit upfront, you payment will be right around $638/mo. +tax.. That is the way I would go.
Car_Man, Do you know the minimum money factor and the minimum fees in addition to the residuals for a 2003 BMW 754Li and a 2003 Audi A8L? Thank you, Rich
ANy response to post Nr. 20878?? Was hoping to have your comments. What I need to really know is the residual and money factor and the Limited and the SR5, I am thinking about leasing an SR5 with the following: Preferred Package / Alloy Wheel Package #2 / JBL In-Dash 6 CD changer / Rear Spoiler / Fog Lamps / Keyless Entry / Running Boards. This is almost the same vehicle as a Limited just without the fancy trim I believe but for about 4k less. My lease term would be 39mth / 15k a year with $0 down (except first month payment and the usual ref fee, etc etc). I know there is a 1000 rebate offered, let me ask you - can you apply this rebate to the negotiated final price under a lease or is the 1000 rebate only applied afterwards, such as using it for a down payment? The dealer said I cannot apply it to the negotiated rate - I am skeptical.
Anyway - your input and assistance is much appreciated.
Welcome taddec. Thanks for offering to share the details of your lease with everyone. The lease money factor and residual value that you were quoted for this car look about right to me. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the car that you are interested in for you if you let me know what these numbers are. I also need to know how much you were given as a trade-in allowance for your old A4.
Insane? For $638 plus tax you will have the privilege of driving a 2006 BMW 525 that can accelerate to 60mph in 7.6 seconds with the wind behind you! Come on. What a deal!! Heh heh!
Hi liltash. Since you are new 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.
You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the car that you are interested in for you if you let me know what these numbers are. You should be able to get good feedback on this vehicle's pricing by stopping by the following discussion: "Subaru Outback: Prices Paid & Buying Experience".
A 4 year lease of this vehicle will provide you with a low monthly payment, but one thing that you should think about leasing for 4 years instead of for 3 is that the Subaru Outback only comes standard with a 3 year /36000 mile basic warranty. If anything happens to your vehicle during the last year of your lease, you will have to pay for it out of your own pocket. I personally prefer 36 or 39 month leases because I like to get new vehicles more frequently than every four years and leases are usually expensive to get out of early.
Hi timd3. Lease payments are always negotiable because the selling prices of leased vehicles are negotiable, just as if you are paying cash for them. Comparison shop with a few Cadillac dealers in your area for the best possible price on the SRX that you want, and then have them work up a lease payment on it for you using GMAC's lease program.
You are correct that the $1,000 "Hot Button" cash can be used to reduce this vehicle's selling price. In addition to this bonus cash, GM is providing $1,250 lease cash that can be as well. Make sure to take these incentives into account during your negotiations.
Furthermore, consumers can and should lease any vehicle that they are interested in without making any sort of down payment. 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 SRX would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. At lease signing, consumers are usually required to pay their vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 or $50 increment, the acquisition that the bank that they are leasing through charges (in GMAC's case this is $595 in most states), and any required state taxes or fees. Even a number of these items can be rolled into your vehicle's capitalized cost if you would like.
GMAC's current base lease rate and residual value for a 3 year, 12,000 miles per lease of a 2005 Cadillac SRX V6 are 3.95% and 55%, respectively.
Welcome aboard Jiten. I haven't seen Audi's 42 month lease program for this car recently, but if you were to lease a 2005 Audi A8L through Audi Financial Services right now for 39 months with 15,000 miles per year prior to June 1st, its base lease money factor and residual value should be .00125 and 50%, respectively. I don't believe that Audi is providing any sort of lease support on 48 month leases of this car right now, so if you were to lease one for that long its interest rate would triple. You obviously don't want to lease one for that long. If you let me know this car's full MSRP and selling price, I would be happy to calculate a sample lease payment on it for you.
No problem nyatl. If Lexus Financial Services has a multiple security deposit program, which I believe it does, you would be able to use it to lower your vehicle's monthly payment without making a capitalized cost reduction. The last time that I saw it, LFS' base lease money factor on the 2005 RX 330 for consumers who qualify for its top credit tier was .00146. I am not sure what sort of reduction it provides for each additional deposit.
The selling price that you were quoted looks reasonable to me, but you may want to run it by the community members who are over in the "Lexus RX 330: Prices Paid & Buying Experience" discussion as well. If you tell me the exact selling price and MSRP of the truck that you want, I can tell you exactly what its payment will be.
C0v3rr1d3, the selling price that you were quoted for this car looks very attractive. The money factor that you were quoted looks good as well. I don't like the fact that you are making a $1,500 down payment, I always advise consumers against making down payments when leasing, but many people do make capitalized cost reductions. You can always just have the dealer cut you a check for your trade rather than using the proceeds as a cap cost reduction if you want. I just double checked the payment that you were quoted for this car and came up with exactly $393.70. If you like the car, I don't see any reason not to go for it.
Hey shivan. Through May 31st, Infiniti Financial Services' base lease money factor and residual value for a 36 month, 15,000 miles per year lease of a 2006 M35X are .00210 and 62%, respectively. The numbers for an otherwise identical 39 month lease of this car should be .00209 and 61%.
Hi Rich. While BMW does offer leases on Certified Pre-Owned models, and it even occasionally provides support on select models, I do not personally keep tabs on used vehicle lease programs. I don't for two reasons, the first is that used vehicle leases are much less popular than new vehicle leases. The second is that there is a large amount of data associated with used vehicle leases because of all of the mileage and model year combinations. Sorry that I could not be of more help.
Hi jetfan. While GM does run lease pull ahead programs on vehicles from time to time, I was not aware that it was currently running one. If one is not available at this time, you will not be able to get out of your current lease for free. General Motors is providing low lease rates and lease cash on the 2005 Buick Rendezvous. GMAC's current 3 year, 15,000 miles per base lease rate and residual value on the 2005 Buick Rendezvous are 4.5% and 57%, respectively. You never mentioned the selling price of the truck that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to work up a sample lease payment on the Rendezvous that you are interested in for you if you let me know what its selling price is. GM's lease program on the Cadillac SRX is not much different than its program on the Rendezvous, so it would only be a better option if you like it better.
Hi cgreen1. Unfortunately, in most instances consumers do not receive refunds for unused mileage on leased vehicles. The only way that you can take advantage of your leased Passat's low mileage is if you find a dealer that is willing to give you more for it as a trade-in than it would cost you to purchase it from the bank that you are leasing it through. I would negotiate the selling price of the new vehicle that you want and then see what they will give you for your trade if I was in your situation.
I can give you an idea of what sort of lease payment you can expect on any vehicle that you are interested in. However, in order for me to do so I need you to tell me its full MSRP and provide me with an approximate selling price. All of that informaiton is available here at Edmunds.com. Let me know if you need any tips on finding it.
As far as owner loyalty incentives go, I believe that VW Credit is currently providing returning customers a $500 incentive, but I do not believe that there are any loyalty incentives on Audis for current VW lessees.
Hello Richard. Here is the information that you are looking for. If you were to lease a 2005 Acura TL without navigation through American Honda Finance Corp., prior to the beginning of June for 36 months with 15,000 miles per year, its base lease money factor and residual value should be .00240 and 57%, respectively. The numbers for an otherwise identical 48 month lease should be .00220 and 49%. Its 12,000 miles per year residual values are 2% higher. These money factors assume that you pay a security deposit that is equivalent to your car's monthly payment rounded up to the nearest $50 increment and AHFC's $595 (this charge is higher in some states) at lease signing. It is negotiable in that dealers can mark it up so you have to make sure that the published rate is being used to calculate your vehicle's payment, but dealers can not use a lower monty factor than this. I am not personally all that familiar with that the Acura TL is selling for in your area right now. You should be able to get a good idea though by visiting the following discussion: "Acura TL: Prices Paid & Buying Experience".
The dealer quoted me a base money factor of .00180 (which I thought was HIGH) for top Tier 1 credit consumers and worked it down to .00065 if I agreed to the 9 additional sec. deposits ($4500) which is fully refundable at the end of the lease. What interest rate does this amount to?
The MSRP price is $43,683 which includes 18" rims, rain sensor, 6 CD changer, accessory group, wood trim (steering & shifter knob), towing package, HID lamps, heated front seats and navigation/camera. Selling price: $39,146--could I get this lower?? I'm seeing different invoice amounts from various websites ranging from $38,601 to $38,794. Residual: 44% Doc. Prep. fee: $298 Title/License fee: $41 Tax: 7% In order to have a monthly payment of $475.69 (includes GAP ins. and $515 acq. fee) I would have to also put down $1900.
Skobola, if you were to lease a 2006 BMW 330i through BMW Financial Services right now for 36 months with 15,000 miles per year, its base lease money factor and residual value should be .00255 and 58%, respectively. The numbers for an otherwise identical lease of a 2006 BMW 525i should be .00250 and 60%, respectively. BMW's multiple security deposit program allows lessees to make up to 5 additional security deposits on leased vehicles, with each one providing a .00005 reduction in the money factor that is used to calculate their monthly payment.
Hey natas. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the car that you are interested in for you if you let me know what these numbers are.
Loefflerb, I respond to a ton of questions in this discussion. What vehicle were we talking about again? I can tell you that all vehicles' money factors are the same, regardless of whether they are leased with 15,000 miles per year or 12,000 miles per year. Most banks' 12,000 miles per year residual values are 2% higher than their 15,000 miles per residual values, but there are some exceptions. If you let me know the exact model that we were discussing, I can tell you the exact residual value difference.
Thanks kyfdx. That is a very good question. I don't know exactly what sort of money factor reduction BMW Financial Services offers for pre-paid leases. The number .00125 comes to mind, but I could be wrong. Perhaps someone else out there knows and would be kind enough to tell us. Your dealer should be able to tell you as well.
You're welcome kd270. OK, so the and approximate selling price of the FX35 AWD that you are interested in are $42,060 and $40.000 (let me know if these don't already include destination because if not it has to be added in) , respectively. Using these numbers, I estimate that this vehicle should have a pre-tax monthly payment of around $502 without a capitalized cost reduction.
Julie6, you should be able to find the dealer invoice price of any vehicle that you are interested in by looking it up in the New Vehicle Pricing section of this site.
Here is the informaiton that you are looking for, munchmouth. You definitely want to lease this car for 39 months. For some reason, Chrysler is not providing any sort of lease support on it for the other terms that you mentioned. If you were to lease a 2005 Chrysler Crossfire Coupe Limited with an automatic transmission through Chrysler Financial right now for 39 months with 12,000 miles per year, its base lease money factor and residual value should be an outstanding .00001 and 47%, respectively. When negotiating your lease on this car, keep in mind that there is a $1,000 bonus on it for leases through Chrysler Financial. There are additional cash incentives for consumers who qualify for the employee, supplier, etc... purchase programs and on models that have been on dealer lots since mid-2004. All of these offers can be used in conjunction with Chrysler Financial's supported lease program.
I finally signed an order for a 2005 545i with: NAV System Steptronic Cold Weather Premium Sound Sport Package Rear Side Airbags Rear Sunshades Fold Down Rear Seats Rear Seat Heating SAT Radio Heads Up Display
MSRP: $67,525.00 Invoice: $61,700.00
36 months, 10k miles p/year, $2555.00 total out of pocket, $730.33 per month including 6% NJ tax. I got pricing from 2 dealers here in NJ that were only $10.00 apart on the monthly payment.
Based on my original negotiations it looks like I did alot better, as I was originally looking at a 545i with a $64,??? MSRP, $2700 out of pocket,36 months 12k miles per year, $776 per month. Is BMW giving dealers a rebate on the 05's? According to my figures it looks like I'm getting this car very close to invoice.
Car_Man: I know that you are trying to catch up on the backlog of requests, if you get the chance to look at post #20883...the info would be appreciated....going into purchase tomorrow....thanks as always for the time and info.
I have a leased, 2003 Lexus IS300 Sportdesign with 14,000 miles that's contract ends 09/06/06. My current payoff for the Lexus is $23,402. I plan to buy an SUV, and would like to use the Lexus as a trade in. The best offer I have been given from the dealers is $24,100.00, which gives me $698 of positive equity.
The agreed price of the Lexus, when I signed the Lease on 06/09/03, was $31,795, and I payed $2,479.46 tax (Schaumburg, IL) on the entire value of the car...bringing my total cost at that time to be $34,874.46 (includes $600 acquisition fee).
My question is this: If I trade in my Lexus for $24,100 to buy an SUV that costs $30,685, do I get a tax advantage? i.e...Do I pay tax on $30,685 - $24,100 = $6,585, which in Crystal Lake, IL tax is 6.5%, which would be $428.03 tax?...Or, do I have to pay tax on the entire cost of the new SUV at $30,685 *6.5% = $1,994.53?
I am not sure if I have to pay tax again, since I payed tax on the full price of the leased car in the begining of the lease.
The tax advantage difference here is $1,566.60...so, I want to be sure on this.
:confuse: Dear Car_man I hope you do not mind my questions since it is not about Lease, I just need some more information sooooo bad
I just bought a Dodge Dakota 2005 Club Cab Slt and that was 3 months ago, It was my first time to trade (which up to now I am still upset about it) HUH! I went to the car dealership like shopping for a new shoes, my big mistake!!!!! because I did not research online.
Anyways, now no offense to dodge dakota owners but I realized that this is not the right one for me, I thought this would be great i can put my bikes on the bed and it runs very good.
NOW I am deciding about doing an early trade-in finance, do you think a car dealer would be willing to pay what I owe 23K ?(after all I deposit and trade) I tried to visit kelley blue book to appraised the worth of this truck but I can't for some reason the truck is still good as new like how I purchased it although there is 4,500 miles in it already.
can you please give me some advice on how to get rid of this truck? If I can I am thinking about trading it in for a 2005 ford explorer that they sells for 18,000.
any advice is needed and will be greatly appreciated...regards
Hey guys, Could one of you assist me with the lease numbers for the 2005 Avalon XLS? I'm looking for a 36 or 39-month lease with 0 down, 12K miles/yr, MSRP $31, 340 (options: VSC and premium audio), negotiated price $29,100. Thanks much,
Thank you Car_man. I have forgotten to note that I intend to lease for 10,000 miles per year, however, as I have already ordered the 325, I guess that I will have to check with you about MF and residual for 325 in about 2 months. I am a little surprised that the BMW FS made the additional security deposits so worse for lease, as they were before allowing up to 10 deposits, where each deposit would decrease the MF for 0.0001, thus bringing the maximum to reduction to 0.001, i.e., to 2.4%. Now it appears that the maximum reduction is almost negligible at 0.6%, which really does not give a good return on the money; for example if the lease would be $500/month, the additional sec. deposits would decrease the lease for only about $15. Provided that the total security deposits would amount to $2,500 (5x$500), this would bring the savings of $540 for 3 years, or about 7% per year. I remember that before the return was about twice than that. Are you sure that your numbers are correct? In other words, if the BMW FS has reduced only the number of sec. deposits, the return would stay the same, at about 14% per year, which sounds kind of right for the money that is not doing anything.
Comments
First things first - KEEP UP THE GREAT WORK!
I am looking to lease an 05 Sequoia Limited, with the only option being with a rear spoiler and the 6CD in dash changer (but I believe this is standard on the limited). I live in Florida (Miami-Dade County) and want to get this deal done before May 31st. Toyota currently has a 1000.00 rebate on the Sequoia.
Can you tell me what the residual value and money factor should be for this vehicle? I also know that Toyota currently has a lease package for a base SR5 for $399.00 per month with $0 down for 48 months, 12k a year.
I am looking to lease my vehicle for 39 mths at 15k a year, $0 down (except `at month and incidentals) and want to know if it is possible to work my vehicle within this package, adjusting of course for the type of vehicle.
I calculated through Edmunds that the invoice on the vehicle I want is $39025.00 minus the $1000.00 rebate puts it at $38025.00. I was in a dealer the other day and the way they were structuring their numbers (without going into detail due to time constraints) was showing me invoice of the vehicle, reducing this number with the $1000 rebate, and then adding 3% for their profit.
Bottom line is I want to go in there tomorrow with numbers in my hand and say this is the deal I want, I have my checkbook with me.
Can you give me the right numbers on this car and also tell me based on the terms I want the vehicle for how will this effect the monthly rate? (39mth and 15k instead of 48 mth and 12k) I was also curious to know your thoughts on what the dealer told me about their calculations.
Thanks so much for the help and hope to get a quick reply since I wanted to go in tomorrow to the dealer. Sorry if this was confusing or involved....
Best regards!
What are the May #'s for a 2 yr 12k per year, and a 3 yr 12k per year (lease and balloon note) on a Mazda 3i sedan (manual trans).
Any dealer cash, rebates, etc? Didn't see any here on edmunds.
Thanks!
I wish it were the case, but I doubt that is accurate. As I understand it, once I assume the lease, the lease is in my name and I would be liable for all damages, wear and tear and excess miles.
In any event, I'm looking to get any feedback from someone that has gone through the lease transfer process with IFS (or any bank) to determine how long it actually takes.
Both the current lessee and myself are motivated to get this done, so we'd move as fast as possible. If it takes a week or two, I can wait, but if it takes 6-8 weeks (as the IFS rep told me) then I will take the deal I have on the table for a new 05 coupe from the dealer.
They couldn't even get comfort access ready for the 3 series release.
Who is managing that company if anybody?
As a person who has driven nothing but BMW for the last 12 years, it is most discouraging.
I see that VW is currently offering a cash to dealer incentive of $2K on the Touareg. Is that money in play when I begin negotiating cap cost on a 3/36 lease?
Looking at going ahead with a purchase on Monday...my 2 choices...
05 Maxima SL non/nav, DPP, Mats, Splash, MSRP 31,420 Purchase price 28,300...includes $500 lease cash discount
05 Acura TSX non/nav ...MSRP 27,760 purchase price 25,800...
Looking at 36 month...12k......can you give me base MF..residual...and appox payment.....Thanks..
Anyway, just using your numbers, regardless of model, I get the same $520/mo.+tax that you get.
However.. I don't think $4700 upfront covers everything..
$900 acq.fee
$5XX 1st payment
$600 security deposit
$3000 cap cost reduction.
That is over $5000 right there..
Maybe security deposit is being waived, with corresponding bump in MF? Or, acquisition fee is being added to cap cost? And/or, they are bumping up the money factor?
One or more of those three items is probably the answer...
regards,
kyfdx
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But, IFS holds the original lessee liable, in case they are unable to collect from you...
But, that shouldn't matter to you... though it may matter to him..
On another board, a BMW lessee transferred his lease to another person.. He said it took four weeks, and that was with him doing everything possible to expedite it as quickly as he could.. He said it could easily stretch into six weeks, if you were lax about the paperwork.
regards,
kyfdx
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MSRP: $43,683
Price $39,146
48 mos./15k miles
Residual: 44%
Money Factor: 00065
9 Security Deposits totaling $4500 (refundable at end of lease)
$1900 down payment
Monthly payment which includes taxes: 475.69
MSRP: $63284
Price $56,000
36 mos./12k miles
Residual: 54%
Money Factor: .00245 --from lexus
$0 down payment
Approx.Monthly payment which includes taxes: 881.00
Would Like to bring Payment down to around $600 ?
its an 06 525...i was very happy with the price (1200 over invoice) from a very big dealer that isnt known for its great prices.
there is a 700 security deposit included in the total due at signing. he is using the 900 acquisition fee to reduce my cap cost of 3000 to 21000. what-the-heck! i thought if you do a zero-down lease, the total drive-off costs are 1700 (which includes acq fee, no?)...so the extra 3K i wanna throw in is purely psychological...id like to keep my paymetns in the low 500's....which is how i get the 4700 total due.
so if i wanna get the pmts to 520+tax i should have a total drive-off cost of $5600?
many thanks kyfdx
M35x/Journey-Tech-splash guards--full size spare--mats
MSRP--50560
Selling Price--48060
39 months
15k miles
MF--.00209
Residual--61%
0 cap cost reduction
Paid 1st month+finance fee ($550), MV and documentation fees=$1680
NJ Taxes in advance=$1033
Tire and wheel insurance--$250 (well worth it!)
$2963 upfront
$606.52 monthly...
Look at it this way.. He is giving you a low purchase price.. He is using the base money factor and the base acquisition fee. Not a bad deal.
Of course, the car is still fairly expensive to lease, because there aren't any low money factor incentives..
Putting a lot of money down, to get a lower payment is just playing mind games with yourself, though...
My advice: Just make the 1st payment and security deposit... Given the rest of the terms, you'll have a good lease price.. It just won't look as good as $520+tax... In the end, you'll pay about the same amount. With just 1st payment and security deposit upfront, you payment will be right around $638/mo. +tax.. That is the way I would go.
regards,
kyfdx
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Do you know the minimum money factor and the minimum fees in addition
to the residuals for a 2003 BMW 754Li and a 2003 Audi A8L?
Thank you, Rich
Thank you.
hpowders
is appreciated.
About the only way to check them would be to ask multiple dealers for each make..
Usually the best CPO lease deals are on cars coming off lease... That would be mostly '02 models, right now.
regards,
kyfdx
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ANy response to post Nr. 20878?? Was hoping to have your comments. What I need to really know is the residual and money factor and the Limited and the SR5, I am thinking about leasing an SR5 with the following:
Preferred Package / Alloy Wheel Package #2 / JBL In-Dash 6 CD changer / Rear Spoiler / Fog Lamps / Keyless Entry / Running Boards.
This is almost the same vehicle as a Limited just without the fancy trim I believe but for about 4k less.
My lease term would be 39mth / 15k a year with $0 down (except first month payment and the usual ref fee, etc etc). I know there is a 1000 rebate offered, let me ask you - can you apply this rebate to the negotiated final price under a lease or is the 1000 rebate only applied afterwards, such as using it for a down payment? The dealer said I cannot apply it to the negotiated rate - I am skeptical.
Anyway - your input and assistance is much appreciated.
Best regards,
jnijankin
gee, im starting to reconsider this. :confuse:
im gonna keep my fingers crossed and hope the MF decreases next week.
$555/mo. + $83/mo. = $638/mo.
I'm not sure why you are surprised... You see what I mean about how the lower amount sounds better, but really isn't?
Capitalized cost reductions (aka downpayments) are just there to make you think the cost is lower.
I also happen to think that an '05 545i is one of the best leasing deals going right now... It isn't like the new '06 will look any different.
regards,
kyfdx
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You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the car that you are interested in for you if you let me know what these numbers are. You should be able to get good feedback on this vehicle's pricing by stopping by the following discussion: "Subaru Outback: Prices Paid & Buying Experience".
A 4 year lease of this vehicle will provide you with a low monthly payment, but one thing that you should think about leasing for 4 years instead of for 3 is that the Subaru Outback only comes standard with a 3 year /36000 mile basic warranty. If anything happens to your vehicle during the last year of your lease, you will have to pay for it out of your own pocket. I personally prefer 36 or 39 month leases because I like to get new vehicles more frequently than every four years and leases are usually expensive to get out of early.
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Thanks.
hpowders
You are correct that the $1,000 "Hot Button" cash can be used to reduce this vehicle's selling price. In addition to this bonus cash, GM is providing $1,250 lease cash that can be as well. Make sure to take these incentives into account during your negotiations.
Furthermore, consumers can and should lease any vehicle that they are interested in without making any sort of down payment. 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 SRX would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. At lease signing, consumers are usually required to pay their vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 or $50 increment, the acquisition that the bank that they are leasing through charges (in GMAC's case this is $595 in most states), and any required state taxes or fees. Even a number of these items can be rolled into your vehicle's capitalized cost if you would like.
GMAC's current base lease rate and residual value for a 3 year, 12,000 miles per lease of a 2005 Cadillac SRX V6 are 3.95% and 55%, respectively.
Let me know if you have any other questions.
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The selling price that you were quoted looks reasonable to me, but you may want to run it by the community members who are over in the "Lexus RX 330: Prices Paid & Buying Experience" discussion as well. If you tell me the exact selling price and MSRP of the truck that you want, I can tell you exactly what its payment will be.
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Thank you.
hpowders
I can give you an idea of what sort of lease payment you can expect on any vehicle that you are interested in. However, in order for me to do so I need you to tell me its full MSRP and provide me with an approximate selling price. All of that informaiton is available here at Edmunds.com. Let me know if you need any tips on finding it.
As far as owner loyalty incentives go, I believe that VW Credit is currently providing returning customers a $500 incentive, but I do not believe that there are any loyalty incentives on Audis for current VW lessees.
Let me know if you have any other questions.
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The dealer quoted me a base money factor of .00180 (which I thought was HIGH) for top Tier 1 credit consumers and worked it down to .00065 if I agreed to the 9 additional sec. deposits ($4500) which is fully refundable at the end of the lease. What interest rate does this amount to?
The MSRP price is $43,683 which includes 18" rims, rain sensor, 6 CD changer, accessory group, wood trim (steering & shifter knob), towing package, HID lamps, heated front seats and navigation/camera.
Selling price: $39,146--could I get this lower?? I'm seeing different invoice amounts from various websites ranging from $38,601 to $38,794.
Residual: 44%
Doc. Prep. fee: $298
Title/License fee: $41
Tax: 7%
In order to have a monthly payment of $475.69 (includes GAP ins. and $515 acq. fee) I would have to also put down $1900.
Does this sound fair?
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I finally signed an order for a 2005 545i with:
NAV System
Steptronic
Cold Weather
Premium Sound
Sport Package
Rear Side Airbags
Rear Sunshades
Fold Down Rear Seats
Rear Seat Heating
SAT Radio
Heads Up Display
MSRP: $67,525.00
Invoice: $61,700.00
36 months, 10k miles p/year, $2555.00 total out of pocket, $730.33 per month including 6% NJ tax. I got pricing from 2 dealers here in NJ that were only $10.00 apart on the monthly payment.
Based on my original negotiations it looks like I did alot better, as I was originally looking at a 545i with a $64,??? MSRP, $2700 out of pocket,36 months 12k miles per year, $776 per month. Is BMW giving dealers a rebate on the 05's? According to my figures it looks like I'm getting this car very close to invoice.
Again, Thanks for all the help!
Frank
I know that you are trying to catch up on the backlog of requests, if you get the chance to look at post #20883...the info would be appreciated....going into purchase tomorrow....thanks as always for the time and info.
The agreed price of the Lexus, when I signed the Lease on 06/09/03, was $31,795, and I payed $2,479.46 tax (Schaumburg, IL) on the entire value of the car...bringing my total cost at that time to be $34,874.46 (includes $600 acquisition fee).
My question is this: If I trade in my Lexus for $24,100 to buy an SUV that costs $30,685, do I get a tax advantage? i.e...Do I pay tax on $30,685 - $24,100 = $6,585, which in Crystal Lake, IL tax is 6.5%, which would be $428.03 tax?...Or, do I have to pay tax on the entire cost of the new SUV at $30,685 *6.5% = $1,994.53?
I am not sure if I have to pay tax again, since I payed tax on the full price of the leased car in the begining of the lease.
The tax advantage difference here is $1,566.60...so, I want to be sure on this.
Thank you.
I just bought a Dodge Dakota 2005 Club Cab Slt and that was 3 months ago, It was my first time to trade (which up to now I am still upset about it) HUH!
Anyways, now no offense to dodge dakota owners but I realized that this is not the right one for me, I thought this would be great i can put my bikes on the bed and it runs very good.
NOW I am deciding about doing an early trade-in finance, do you think a car dealer would be willing to pay what I owe 23K ?(after all I deposit and trade)
I tried to visit kelley blue book to appraised the worth of this truck but I can't for some reason the truck is still good as new like how I purchased it although there is 4,500 miles in it already.
can you please give me some advice on how to get rid of this truck? If I can I am thinking about trading it in for a 2005 ford explorer that they sells for 18,000.
any advice is needed and will be greatly appreciated...regards
Could one of you assist me with the lease numbers for the 2005 Avalon XLS? I'm looking for a 36 or 39-month lease with 0 down, 12K miles/yr, MSRP $31, 340 (options: VSC and premium audio), negotiated price $29,100.
Thanks much,
samosval