Lease Questions - Ask Here

rblnr

Hey Car Man,

Am officially posting my reminder on a Tribeca 7 pass LTD w/DVD and NAV. Looking at 2K down for 39 mo. -- am waiting on lease numbers from one dealer who quoted me a price of 36,6575. Another dealer quoted me $442.00/mo. w/2K down over 39 mo., this includes all taxes and charges (NJ 6%). What #'s do you come up with, 2K down over 39 mo.?

Thanks,

Bob

itaback

Dear alc5 - $1500 additional on top of GMS sounds great. What dealer is offering that? My local dealer won't give a dime more than GMS.

Thanks!

Ivan

davidd3

Thanks Car_Man. Since the base MF is the same for both the 325i and the 330i, the 325i would appear to be the better lease deal this month because of the higher residual. I was hoping that just the opposite would be true, in order to make the 330i more affordable to lease.

David D.

kyfdx

Historically, the 325i has always had better residuals than the 330i...

regards,
kyfdx

1075dallas

Car man, Could you please give me the MF and Residual % for a leases with the following specs: 2005 JGC Limited 4x2 . 24 and 36 months. 15,000 miles per year. I read your numbers from your post several weeks ago and the dealer told me the MF was way off. I want to double check. Thanks.

sharmabmw

Car_Man, Can you please give me x3 lease numbers. 3yr/ 12K and 3 yr/15K?
thanks.

mikekx

Car_)man,

Thank you for the bmw 325 numbers. I have been deciding between the BMW and an infiniti G35 sedan (2WD), aero package, sirus radio, window tint, premium package,

Doi you have the July infiniti numbers and possible incentives yet?

The infiniti cap cost is 34384 (includes 1st months payment), 12K/3 yr, No money down cost arount 420, money factor 0.00175, residual 60%.

Are the numbers correct? Is there a new July lease incentive?

I plan on completing the deal by the afternoon .. if you are able to reply that would be great!!

davidd3

Thanks, kyfdx. I appreciate the historical perspective. The better residuals give me yet another push in the direction of the lower priced 325i.

Regards,

David D

sandyl

are you sure that they did not use that price to figure out the residual.? Which nissan dealership in GA did you use? You could call and complain and see if that takes you anywhere, but once you sign the papers, I believe they can make you stick to it. Remember that they like those surveys to be completely satisfied. AT least the nissan dealership I worked with kept making sure I was happy.

I always leave my kids behind when I actually make the deal.. bring them when I am just browsing.

Sandy

clpurnell

I am in a rare situation while I am over miles right now my car is still worth more than my buyout at this point in time. So instead of racking up more miles I would like to sell it. How would I go about this. I was thinking I could have a dealer handle the transaction.. Me and buyer go to dealer the dealer buys car from me and sells to my buyer at set price I pay the dealer a nominal fee for paper work. Is this feasable? Please let me know what you think my options are in this situation. I do not plan on getting another car right away.

Thanks

shamme

Hi. I'm new to leasing and I'm getting ready to lease a 2006 3 series (haven't decided on 325i or 330i). I've seen numbers throughout this site e.g. 59%, 63%, .00250, etc. The problem is I have NO idea what these numbers mean. Can someone please explain how I use these numbers? FYI, I'm leaning towards a 330i (w/auto trans and xenons). Any help would be greatly appreciated. Thanks in advance!

dwynne

In most states that is the ONLY way you can sell your leased car to someone else. What happens is the title can only go to you (the lessee) or a licensed dealer - and not directly to a 3rd party. So in order to sell it yourself (w/o a dealer) you would have to buy it and pay taxes, then sell it and your buyer would owe taxes as well.

To beat the double tax you just go through a dealer. The one that I use charges $299 and the price includes the contracts, temp tag, registration (if needed), and all the overnight letters back and forth to do the deal. If you can't find someone locally to do it for you cheap, let me know. I just sold an lease car to a private party a couple of weeks ago - and it was a snap.

Dennis

dwynne

I don't know if the numbers are available yet, but if you are comparing the 2006 325 VS the G35 the G should be a much better deal, hands down. G's have fantastic residuals and if you can negotiate the price down near invoice you have a lot of car for little money. Keep in mind you are comparing the G with MORE POWER than the 330i with the 325i. I normally love BMWs, but bang for the buck the G35 sedan wins - and wins at leasing too.

Dennis

shamme

Hi again, I sent a post right before this one, but I found the articles about how to figure everything out (so you can disregard the last post). Now my next question is would $600 a month for a 330i with auto trans, heated seats, and xenon lights for 36 months/15K per year be reasonable (0 money down)? If not, should I expect to pay more or try to get it lower? Thanks again.

rstnpc

Cgray:

There is hope.....GA has a 72 hour "Right of Recision" statute. You should be able to return to the dealership and cancel the deal.

goofymd

Car_man
My LR3 is scheduled to arrive next week, when I spoke with the salesman about leasing he quoted a rate with a Money factor of .0038. Outrageous- it would be almost be cheaper to buy the truck for that much. I am going to contact my bank, but I was wonder about using an Internet service like Leasecompare.com. Has anyone used them? Are the trustworthy? The deal seems reasonable. Any thoughts?

thanks,
Mark

kyfdx

That doesn't apply to cars.. Once you have signed the papers and taken delivery, it is yours...

dwynne

I have done two leases with leasecompare and used them twice to sell coming-off-lease cars for me - all with good results. Looks like they are doing 0.00215 on the LR3 . You are right, I would not lease at 0.0038.

Dennis

mnjoe

Need a quick answer, if you can, on whether GMAC charges a $595 acquisition fee.

Also, have you seen the new money factor and residual numbers on a 36/36 STS V8 AWD?

davidd3

Car_Man,

Would you please tell me what the monthly payment should be on a lease of a 2006 BMW 325i with a MSRP of $36,945 and a sales price of $34,990, 36 months, 15,000 miles per year. When performing your calculation, please capitalize both the acquistion fee ($900 in NY) and the sales tax (7.5% where I live).

Thanks.

David D.

bdr127

What you're referring to is called a "courtesy trade." Many dealers will do it for a fee, as dwynne pointed out. If you are planning to buy/lease a new car at the same time, the best thing to do is to arrange the courtesy trade at the same time as you get that new car. There'll be two separate sets of paperwork, since it is really two separate transactions. In addition, because the paperwork acknowledges it as a trade, you get the tax reduction benefit toward your new purchase/lease. I've personally done this in the past, and it is really time-efficient and money-saving.

bennych

Can you tell me what the July rates are for the X5 4.4? Looking at 36 months, 12k miles/

sharmabmw

Okay Car_Man and kydfx,

I'm going to make a plunge and go against the family principles of never leasing a car. (then again, the business is going to write the thing off. Got Uncle Sam on my side). Here you go:

2005 X3 3.0; auto; metallic paint, prem package, privacy glass

3 yr/15K
MSRP: 39620
sell price: 36737
RV: 60%
MF: .001 (with $500 sec. deposit)
cap cost: 37607 (includes $45 doc fee, acquisition 825 (I know, marked up))
Orange Co. tax = 7.75%
drive off: 1291.98 (1st mo, 500 sec deposit, registration 311.75)
per mo: 480.23 (inclusive of tax)

What do you think?
So. Cal dealers are really giving good deals with no negotiations. Should I negotiate below invoice? I keep wondering if there is any marketing money wrapped in the car. Is the only incentive the slow sales of the X3 and the numerous cars on the lot?

thanks.

tcg1

Hi Carman,

I love this forum! Last month, I did EXTENSIVE research on this site and was able to get a great deal on a 2006 330i BMW for my husband! I would never lease a car without consulting this site again!

Anyway, it's my turn to get a car and I'm pretty set on getting a 2005 Volvo XC90 V8. I got a fantastic offer from a dealer on a 2005 Titanium Grey Metallic XC90 (Titanium Metallic Grey, w/ Rear Entertainment Package and parking assist). They offered me $44,250 for selling price - MSRP is $49,200.

Could you please tell me what the MF and residuals are for this car on 12K/36,000 miles? Does .00148 and 59% sound right? Thanks!!

rroyce10

........ **GA has a 72 hour "Right of Recision" statute. You should be able to return to the dealership and cancel the deal** ...

Sorry, no such thing .... once your over the curb you're an owner ....

Terry.

scubaguy

what we all want is something simple in terms of price and no games...yet even the GM plan and the Ford Family plan still play games with rebates...they advertise one price but its not really...its two or three prices depending on whether you lease or not...which gets me to my lease question...with the new ford and gm plans, if they advertise one price, then shouldn't the leases take into account the $4k rebate on Ford Explorers (for example)? Do any dealers give you this benefit or are you automatically paying $2,500 to $4,000 more for a lease vs buying?

Also, what I'm also seeing with GM, for example, (in the lease worksheet they gave me)is that it doesn't even tell me what the MF number is! They use a code on the worksheet which refers to a cross reference rate on a cheat sheet with the real MF numbers!! ... so the consumer can't tell what numbers they are using! Its just more of the same BS ... :mad:

I'll ask my specific lease question another day, but I'm curious car man if you see these same things or am i misunderstanding (a) the loss of big rebates by lease customers and (b) the use of hidden codes so that customers can't see the real numbers until it comes time to sign on the bottom line...(can't get much sleazier than that)

rroyce10

...... Careful here Clp .... you have some folks here giving you some half-truths ...

Some dealers "will" do a courtesy trade .. but thats if your flipping into their new vehicle and it's shown as a trade straight out .. also not every dealer will flip the trade just for the grins and glory, or even $299 because of the tax man, ya know what I mean.? .. but they may want the trade - or not .. if they don't have a home for it or it's not needed in their inventory, they will pass .. there not getting $299 to spend $500/$600 to run it off to the auction ----- are boy Dwynne gets a "little" confused sometimes ........

Have the buyer ready, have the dealer ready at purchase time and they can triple flip the vehicle - legally.



Terry.

tgp1810

Thanks alot Car_Man. The information is greatly appreciated.
Hope you had a fun 4th.

dwynne

there not getting $299 to spend $500/$600 to run it off to the auction ----- are boy Dwynne gets a "little" confused sometimes ........

Another attack, seems like that is all you want to do.

I am not "confused" at all - I have sold two BMWs off lease to private parties and both times paid $299 for all the paperwork. That included a drive out tag for the buyer, contracts, overnight letters back and forth, etc. $299 - yep, that is all I paid. I just completed the sale of my M5 less than two weeks ago - a $45k sale for, you guess it - $299.

I said they could try to find a local dealer to handle it, but if they could not I could point them to someone who could do it for $299. What part of that do you not understand? I realize that in some cities and states they charge a business or other tax for everything that rolls through the lot - and carrying the buy-and-bye sale could cause a tax hit in those places. So they may not could do it for $299, if so, then use the folks I did - for $299.

I don't understand your reference to "trade" or "run it off to the auction". - that just makes no sense. The seller shows up with a buyer with check in hand. The dealer just does the paperwork - the dealer does not buy the car for inventory nor do they have to take it to the auction, the buyer comes with the seller to the dealership. The buyer leaves with the car, the seller with a check from the dealership (the profit, if any) and the dealer makes a few bucks for a few minutes work. Once the dealer gets the title from the lease bank, they forward it on to the buyer. You do seem to get "confused" since you don't seem to read the WHOLE post - just pick something out of it and go off.

By the way, the word you want is "they're" not "there" - here is a link to clear up your "Confusion".

http://www.gcse.com/english/there.htm

Dennis

CarMan@Edmunds

Hi cgray. I am sorry to hear about your terrible shopping experience. Unfortunately, there is no such thing as a two or three day period where consumers can get out of new vehicles that they have purchased. Once a consumer signs a lease agreement and drives off in a new vehicle, it is theirs and they cannot give it back. Having said this, if you feel as though you were deceived when you leased your new van it would be in your best interest to go back to the dealership that you got it from ASAP and explain your situation to the sales manager, general manager, or owner. They may be willing to work with you.

Car_man
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CarMan@Edmunds

Greetings thedriver. I have not seen Volvo's July lease program for the 2006 S40 yet. Please feel free to check back with me in a few days and I will be more than happy to fill you in on what I have been able to find out about it. Talk to you soon.

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CarMan@Edmunds

Hey Bob. I would be more than happy to calculate a sample lease payment on the Subaru that you are interested in. However, in order for me to do so I need you to provide me with its full MSRP with the destination charge added in.

Car_man
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CarMan@Edmunds

No problem David. You are absolutely correct, the '06 BMW 325i has the better lease program of these two cars this month.

Car_man
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CarMan@Edmunds

Hello 1075dallas. I have not seen DaimlerChrysler's new July lease program for the Jeep Grand Cherokee yet. I suspect that I will have an opportunity to take a look at it within the next couple of days. Please post a reminder in this discussion for me then and I will be more than happy to fill you in on what I have been able to find out.

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CarMan@Edmunds

Here is the information that you are looking for sharmabmw. If you were to lease a 2005 BMW X3 2.5 through BMW Financial Services right now for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00160 and 57%, respectively. The money factor for an otherwise identical lease with only 12,000 miles per year would be the same, but the residual value would be 2% higher.

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CarMan@Edmunds

You're welcome mikekx. I have not seen Infiniti's new July lease program yet, bus suspect that I will have an opportunity to take a look at it within the next couple of days. Please feel free to post a reminder in this discussion for me then and I will be more than happy to fill you in on what I have been able to find out. Talk to you soon.

Car_man
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CarMan@Edmunds

Hi clpurnell. If your leased car is indeed worth more than it would cost you to purchase at lease-end you certainly are in a good situation. I have heard about consumer using dealers to facilitate the sale of leased vehicles in the past, but keep in mind that the dealer that you ask to do this is going to want to make money on your deal to make up for the hassle that is associated with this transaction and the liability that they are exposing themselves to by technically selling your leased vehicle. If you can't find a dealer that is willing to do this, you can always purchase your leased vehicle on your own and turn around and sell it to the consumer who wants it but this forces you to have to pay tax on it.

Car_man
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CarMan@Edmunds

Hi shamme. 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. Once you have read these articles, stop back and I will be more than happy to answer any specific questions that you have.

Car_man
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CarMan@Edmunds

Hey shamme. I am glad to see that you found the articles that I referred to earlier and found them helpful. I guess that you can disregard my previous post . I would be more than happy to give you my opinion of the lease that you were quoted, but 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.

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CarMan@Edmunds

Unfortunately, rstnpc, no states have "72 hour 'Right of Recision'" laws that apply to the sale of automobiles. Once a consumer signs the necessary contracts and drive off in their vehicle they are stuck with it unless the dealership that they purchased it from is willing to work with them.

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CarMan@Edmunds

Hi Mark. A lease money factor of .00380 is indeed outrageous. It is equivalent to an interest rate of around 9.12%, which is very high by today's standards. While I have not seen Land Rover's new July lease program yet (it supposedly was not out yet as of yesterday), I think that it is very safe to say that this factor is quite a bit higher than Land Rover's captive finance company's base money factor for this model. Post a reminder in this discussion for me in a few days and I will be more than happy to fill you in on what I have been able to find out about the LR3's base July lease program. Though I have leased vehicles through independent banks, I have always had dealers arrange these leases for me and have not arranged them on my own. If I was in your situation, I would wait a couple of days until I can tell you about this truck's new July lease program and then armed with that knowledge shop around with a few Land Rover dealers to see what sort of deal you can get.

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CarMan@Edmunds

Hey mnjoe. Yes, GMAC charges consumers who lease vehicles through it a $595 lease acquisition fee in most states. I believe that Cadillac's base lease program for the car that you are interested in is the same as it was last month. Specifically, if you were to lease a 2005 Cadillac STS V8 through GMAC right now for 3 years with 12,000 miles per, its base lease rate and residual value should be 4.45% and 59%, respectively.

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CarMan@Edmunds

Hey David. Let's work up a sample lease payment on the car that you are interested in and see what we come up with. According to my calculations, if you were to lease a 2006 BMW 325i with an MSRP of $36,945 and a selling price of $34,990 through BMW Financial Services right now for 3 years with 15,000 miles per, its zero down, pre-tax monthly payment should be around $490. If you were to add the $900 acquisition fee into this car's cap cost, it would increase your monthly payment to around $517.

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mnjoe

Thanks Car Man, just wanted to make sure everything was on the up and up. They are going to roll the acquisition fee into the lease, so I think I will pull the trigger. I'll let you know if it happens. 2005 STS AWD V8 66,035. GMS price 58,055 (plus $595 acquisition fee = 58,650). 36 mos 36k. payment I'm quoted is 730.85 + 6.5% tax = 778.36. Out of pocket is 1st pmt, title, $79 doc fee for a total of approx $1500.

mvs1

This holds true for other manufacturers as well. The can offer differing rebates for purchases and leases.

Now ask yourself, If you were GM and you give everyone an employee discount on a lease and the residual is based on the MSRP and not drastically lowered would you want your cars back in 3 years???

davidd3

Car_Man,

Thank you very much for taking time to calculate a sample lease payment for me.

As a rule of thumb, is it fair to say that each $1,000 added to the capitalized amount of a BMWFS lease with a MF of .0025 would increase the monthly payment by roughly $30? I ask this question because you calculated my monthly payment ($517) on a pre-tax basis, and I am now trying to determine how much higher my payment would be if I rolled the sales tax (7.5%) into the lease rather than paying it up front. 36 x $517 = $18,612 total monthly payments. Tax on that would be $1,396 ($18,612 x .075). I roughly figure that capitalizing the $1,396 would increase the monthly payment by about $42 (based on $30 per $1,000). Then the monthly payment would go from $517 to $559 or thereabouts. Does my math sound about right to you???

David D.

1075dallas

Thanks for the quick reply Car Man. I "pulled the trigger" on the JGC Limited last night. For info purposes, I got the Jeep at the employee price, no haggling. The employee price was about $1000 below invoice. Plus I received a $2000 rebate and $1000 loyalty rebate. The deal turned out to be over $7000 less than the MSRP. For the 24 month 15k miles lease the MF was .0019 and the residual was 57%.

bmwccc

Car-Man

I have been sent here on a quest for your help. I have never leased a car before and this weekend am going to finalize a deal for my first bmw.

Here is some info to work with on the 2006 bmw 330i. Car's msrp at $43,545 and invoice at $39,915. Lets work the figure around $41,300. Could you let me know what the current MF rate is, residual is etc. Looking to lease it for 36 no. and 15k per year. Wanting to put little or no money down ( of course ).

Another question I have is if I order the car in July and they don't deliver it until sept ish, do i lock in the better lease rate? Take the rate once I ordered the car? or take the rate when the car is delivered?

Thanks in advance for all your help!
bmwccc

chrono

Looking to lease a base g35 coupe 12K miles a year for 3 years possibly. MSRP is $33,360 but I believe I can get close to invoice which is $31K. Let me know the monthly payment numbers and what possible up front fees there are. THANKS!

testykaren

Car Man:

Just a reminder to get me the rates of Mercedes New Lease Program for Tier one rates with the MF and residuals on the ML 350 2006. Also, can you get the same information for Hann Financial Services? I appreciate you sending me the above as soon as you have the information. Thank you for your help.
By the way, I got the ML 350 for about $700 over invoice price, but this was negotiated when I ordered the car in the beginning of April. Nice deal then. But the car has been really late in arriving and I have the dealership picking up the rental bill since my previous car was returned at lease end a few weeks ago. I told them that if they wouldn't pay for the rental I was going to cancel my order and go across the street to Volvo to get an XC90 V8. This amounts to another $900.00 that they are paying and I have not had a car payment for the month so I feel pretty good about this deal.