Lease Questions - Ask Here

petal1

Thank you "Car Man"....your helped me so much.....not only to get a better deal
but to feel a little confident. I leased a C230 Mercedes Benz 2005, the residual was terriable and so was the money factor, my credit score was average, so I just worked on getting to MSRP low.

MSRP $34, 360.00
Selling Price $29, 558.47
Monthly Payments $500.00
Down Payment $500.00 (also my first months payment)
3 year lease
15k miles

I'm not sure if this was the best deal ever but I'm happy because the sales man looked frustrated....it felt good to inflect a little pain.

Thanks a million this site is wonderful....your the best "Car Man"
regards
Petal1

timmboj

Thanks Car_Man, but don't waste your time finding out about GMAC Saturn info -- I drove the Vue this morning and didn't like it. Not to say it wasn't very nice, and had lots of nice features. It just wasn't for me.

Thanks Car_Man.

summitguy

Hi Car_Man, great forum--thanks in advance.
I just signed on for a lease on
Infiniti M35 (base) + Journey + Tech + Mats + Splash Guard
MSRP 47800
Capitalized Cost: 44800
MF: 0.00204
36 months / 12,000 (63% residual)
Down: $550 Bank fee, $200 registration / tags + 1st payment
Payment: $551 before tax ($585 including NJ tax).

any thoughts?

also, the dealer told me IFS is running a program whereby You can give IFS $5400 for the 3-year term of the lease, dropping your payments to $531, and they refund $1944 on top of the $5400 as intereste at the end of the lease term. What do you think?

jzcarr25

Car_man, I saw the new BMWFS rate for the 330i posted on another forum. Can you or anyone confirm these? Much better if these are legit. Thanks ahead of time

24 mo/15k mi – 65% Residual Value – Money Factor .00120 Base Rate
36 mo/15k mi – 58% Residual Value – Money Factor .00120 Base Rate
48 mo/15k mi – 44% Residual Value – Money Factor .00240 Base Rate
60 mo/15k mi – 37% Residual Value – Money Factor .00240 Base Rate

koberry

Hi Carman:

Do you have any inkling whether BMW will be enhancing its lease program on the 5-series? I'm in market for a 525i.

Thanks,

Ken

samsone

I drove the Subaru this morning and liked it.

I'm now looking at these three, can you give me an idea of what I should expect to pay and the current deals?

2005 Subaru Outback Sport SE
2005 Saab 9-2x Linear (if I could find one)
2005 Honda CRV 4WD EX

Thanks for your help!

ajamo

Topgun,
I cut and pasted this from an Infiniti dealer in PA.

"Sorry it took a bit to get back to you - busy morning. Anyway, the current money factor for 39 months for the M45 Sport is .00209 = 5.016%. For every security deposit put down (maximum of 9 allowed), deduct .0001 = 0.24%."

cutfoot

Could you give me some idea of what a decent lease would be for an Acura Rl. I'm absolutely new to this as I have always bought cars before and tend to hold on to them for a long time. thanks

ajamo

summitguy, which dealer in NJ? curious as i've been speaking to a few for the M45 Sport

ajamo

Anyone know how much the security deposit is on these?

I'm trying to run numbers for a lease negotiation and the dealer says I can put up to 9 sec. deposits down, each of which would result in the MF decreasing by .24% ~ it would help to have that figure huh? Dealer is closed.

Thanks

summitguy

Ajamo, Douglas Infiniti in Summit, NJ 908-522-7300. Talk to John Weber, and tell him Reza sent you (I dealt mostly with him). My approach was to name my price. He simply budged down to meet me. I didn't beat him down too much--my approach is that I decide how much the car is worth it to me, and I just ask them if they can give it to me at that price. Spending 3 weeks to haggle with 6 different dealers would be a waste of time. Besides, I didn't mind paying a couple of hundred bucks extra (if I did) for taking the car from a dealer that is less than a mile from where I live and work. I can take advantage of their free loaners, etc.

summitguy

I got my M35 - Journey - Tech with 0 Deposit. You can put up to 9 monthly payments worth of deposit down, which drop your money factor progressively, with interest returned to you from IFS at the end of the lease. I didn't go for this, but it basically sounded like a 8-9% return on your investment.

civic2003

I have a leased 03 Civic with 39000 miles on it and is due to be turned in on August 2006. I am allowed 12000 miles/year. Not only am I struggling with the monthly payments because I will be going to school full time soon, but I realize I will be seriously over my mileage allowance by then, and therefore seriously need good advice. What are my options in order to avoid the huge fees that I anticipate? Is buying or selling the car an idea, or re-leasing it?

jarjoura

Hello all,

Please advise me as to whether or not this is a good lease-deal. :confuse:

2006 E350 w/ Appearance, Premium, Trunk Closer, Wood/Leather Steering wheel.
MSRP w/ destination: $59,505

I was able to secure the following:
1 time lease payment, ALL inclusive (tax + 1st. year license) of $15,500 (out the door)
It is a 27 Month lease with 7,500 miles a year (I am going to buy more mileage up front).

The deal is I sign a check for $15,500 and drive the car for 27 months and bring it back with less than 7,500 miles a year and pay a a$500 lease-disposal fee.

Is this a good deal?

This is my first lease, and I spent the entire day trying to negotiate the price based of a similar deal I heard of at a local dealer for $13k out the door; 27 month lease, 7.5K a year miles on a car that had an MSRP of $54,975.

I appreciate any advice or guidance , as this is my first lease, and I am quite new the entire car-buying/leasing experience.

FYI, this is in California.

peachtree103

Hello Car Man, Appreciate your service here. Been reading for a while. Now it looks like it may be time to retire my Tahoe, which is a business vehicle. Type of vehicle will depend on the lease deal, but I think I've narrowed to the following. Could you please give me money factors and residuals for the following.

24 and 30 months, 15K/year.

1) GMC Yukon XL SLT
2) GMC Sierra 1500 4x4 SLT Extended Cab
3) Jeep Grand Cherokee 4X4 V8 Limited.

Presuming '05 models because of the employee discount, but may consider an '06 if they are added to the employee discount programs. Just want the lowest payment, whichever model year it is.

Also, do you know the per mile charge for GMAC and Chrysler Financial to purchase additional miles up front?

Thanks in advance.

CarMan@Edmunds

Welcome idjiot. $500 over dealer invoice is an attractive price for this car, if that is indeed what this offer is. You may want to stop by the following discussion to see how much other community members have paid for similar cars lately: "Audi A4: Prices Paid & Buying Experience". As far as this car's lease program goes, the last time that I saw Audi Financial Services' program for the 2005.5 A4 2.0T quattro its buy rate lease money factor and residual value for a 24 month, 10,000 miles per year lease were .00135 and 75%, respectively. Using these numbers, an MSRP of $36,995, and a selling price of $35,142, I estimate that this car should have a zero down, pre-tax monthly payment of around $394. If you were to do an otherwise identical lease with 15,000 miles per year, the payment would increase to around $438. I calculated this as a zero down lease, because 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 A4 would be exactly the same, regardless of whether you had put $3,000 down, or had made absolutely no down payment at all.

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CarMan@Edmunds

Greetings timmboj. I have had an opportunity to take a look at Saturn's current lease program for the 2006 VUE and would be more than happy to give you an idea of what it is like, however in order for me to do so I need you to tell me how long you want to lease it for and how many miles per year you need to be able to drive it. You are not going to get taken just because you want to lease an '06 model. In fact, the 2006 model's lease program is actually better than the 2005 model's is right now. The main difference between these two trucks is that the '05 qualifies for GM Employee Pricing for Everyone and the '06 does not.

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steine13

"Selling the car" is not a good idea. You don't own it, you can't sell it.

"Buying the car" may be a good idea... depending on the details.
You lease contract specifies two things: the price you can buy the car for at lease end, and the amount of money you have to pay per mile over the limit. These mileage charges used to be 10 cents for smalll cars, but it's more likely to be 15 cents for your Civic... since nobody pays attention to them when they get the car, it's free money for the finance company...

Anyway, if present trends continue, you'll be at 58k, which is 22,000 over, which is going to be $3,300 out of your pocket to turn the car in. You don't say what kind of Civic, but if we assume a buyout price of $10, just to have a round number, then you can look at it as follows:
You'll need $3,300 in hand to give up the car... this is cash money, nobody loans you money to pay overmileage....anyway, this money is gone no matter what...
And an additional $6,700 to buy the car. That's cheap money for a 3-year-old Civic.

So if the car is nice, and if it hasn't had a $10k accident repair, you'll probably be better off buying it from the leasing company. If you leased through AHFC (Honda's own), then it's unlikely they'll negoatiate the buyout price.... if you want to try,use the "advanced search" feature and read what people -- esp.l Terry (rroyce10) -- have written about how to do this. Rule #1 don't tell them you're way over the miles.

"What are my options in order to avoid the huge fees that I anticipate?"
You cannot avoid paying for the miles that you have used.... it's a problem only money can fix.

To come back to "selling the car"... having paid the $10k to get the Civic, there is a chance that you might sell it to a private person for close to that.. maybe $9, maybe even the full $10.... but it depends on the details... Terry can help you with the value over in RWTIV... Civics bring "stupid" money; I normally wouldn't buy one for wholesale they're so overpriced... but the devil's in the details there... a nice, clean Civic is usually an easy sale for quite a bit of money...

I might add that when I was in school full time, as recently as a decade ago, I drove 10-year-old domestics... and a good touring bicycle...

Good luck,
-Mathias

CarMan@Edmunds

You are correct, tremere. Since you have a copy of your car's lease-end inspection you should not receive any surprise charges for excess wear and tear. However, one can never be too careful. If you really want to cover yourself you can always snap a few digital photos of your car with a copy of a recent newspaper or the inspection sheet in them before turning it in. You can use these to defend yourself if the bank that you are leasing through tries to charge you for problems with your car that it never had.

You won't receive an early termination charge for returning your car the during the last month of your lease, you will still have to make your final lease payment though.

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CarMan@Edmunds

Hi duckg. This is quite a complicated transaction. You're working with a dealer that is several hundred miles away and are trading in two trucks. Regardless of how complicated it is, I unfortunately will not be able to calculate a sample payment on this truck for you because you are getting it through Chrysler Financial's Gold Key Plus Program. This program provided balloon notes, not leases on vehicles. I do not personally keep tabs on manufacturers' balloon note programs because they are much less popular than leases. In fact, they will soon become even less popular as leasing begins to return to the state of New York. I can at least work up a sample lease payment on this truck for you using the numbers that you provided. It will give you a general idea of how much to expect to pay. According to my calculations, if you were to lease a 2005 Dodge Ram Pickup 1500 Quad Cab SLT 4WD with an MSRP of $30,385 and a selling price of $21,973 through Chrysler Financial right now for 48 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $272. As you can see, the balloon note payment that you were quoted looks a little high even after tax is taken into account.

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CarMan@Edmunds

Hi smbnj. I suppose that it is possible that Volvo Finance charges higher lease money factors for leases to companies than it charges for leases to consumers, but if it does I certainly have never heard about it. According to the latest information that I have seen, if most consumers were to lease a 2006 Volvo S80 2.5T through Volvo Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value would be .00025 and 48%, respectively. Looking at the prices that you were quoted for this car, it looks as though the dealer that you are working with may be running your lease through an independent bank rather than through Volvo Finance. Leases of the '06 S80 through independent banks qualify for a special $6,500 incentive that make their capitalized costs very attractive.

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CarMan@Edmunds

Here is the information that you are looking for Chris. According to the latest information that I have seen, if you were to lease a a 2005 Honda Accord EX-L Sedan non-nav through American Honda Finance Corp. right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00112 and 54%, respectively. I don't believe that AHFC offers leases with only 10,000 miles per year, but it wouldn't hurt to ask your dealer just to make sure. The dealer cash that is available on this car right now cannot be used in conjunction with this special lease program.

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CarMan@Edmunds

That is a good question, 23tigger. AHFC's standard lease program has different money factors for consumers depending upon what credit tier they qualify for. When I quote its standard money factor for consumers, I always post its "Super Preferred" credit tier numbers. I am not sure about its special lease programs though. I suppose that it would make sense that it worked the same way, but I am not positive that this is the case.

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CarMan@Edmunds

Hey marcz. The numbers that you were quoted to lease this truck look a little high to me. Though I don't know its exact numbers, I suspect that the 2006 LR3's buy rate lease money factor for a 36 month lease is probably around .00250 - .00275. The residual value that you were quoted looks about right to me though. You might want to try shopping around with another dealer or two to see what sort of money factors they quote you for this truck.

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CarMan@Edmunds

I am sorry to say, tguerino, that I do not personally follow manufacturers' balloon note programs. This is because balloon notes are much less popular than leases, soon to be even less popular once manufacturers return to leasing in New York. I can tell you that balloon notes are calculated differently than leases. Their residual values are usually fairly similar to the residual values that are used for leases, but unlike leases where the interest portion of the payment is calculated using a money factor, a percentage, such as 3.0% or 8.0%, is used to calculate the interest portion of balloon notes.

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CarMan@Edmunds

Hello zoomee. I would be happy to give you an idea of what sort of lease payment you can expect on this car. However, in order for me to do so I need you to tell me how long you want to lease it for. The highest mileage allowance that Infiniti Financial Services publishes residual values for is 15,000 miles per year. If you need to drive more than that, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty. There's nothing wrong with leasing with such a high mileage allowance when you purchase the miles in advance. Where consumers get into trouble is when they lease a vehicle with say 10,000 miles per year and actually drive say 20,000 miles per year. They end up owing a gigantic excess mileage penalty at lease-end.

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CarMan@Edmunds

Hi again zoomee. If you were to lease a 2005 Infiniti G35x through Infiniti Financial Services right now for 39 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00143 and 57%, respectively. As I mentioned in my previous post, if you need to drive more than 15,000 miles per year you will have to purchase additional miles on a per mile basis. I believe that IFS' lease-end excess mileage penalty is $.15 per mile. If you purchase additional miles at signing, you probably receive some sort of discount off of that price, to say around $.10 per mile. Using the prices that you provided, an MSRP of $39,230 and a selling price of $36,000, I estimate that this car should have a 39 month, 15k, zero down, pre-tax monthly payment of around $434. It is difficult to say whether it would be less expensive to lease a 2006 G35x when it arrives at dealers because I do not know what its lease program will be like. Its residual values will almost certainly be higher, but there will probably be less money factor support available on it. If I had to make an educated guess at this point, I would say that when it first hits showrooms the '06 version of this car will likely be slightly more expensive to lease than the '05 model is right now, but again it is difficult to say for certain.

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summitguy

Hello Car_man
Here's one to hit up:
Infiniti M35 (base) + Journey + Tech + Mats + Splash Guard
MSRP 47800
Capitalized Cost: 44800
36 months / 12,000
Down: $550 Bank fee, $200 registration / tags + 1st payment

What payments do you come up with? Thanks in advance.

CarMan@Edmunds

Hi hunt4car. Whether it is better to lease or to buy is a difficult thing to generalize about. I definitely would not say that it is better to lease than it is to buy if you plan on keeping your vehicle for less than five years. Which is better depends upon what the lease program is like on the vehicle that you are interested in. Specifically, what sort of interest is being charged on leases of it and how strong its residual values are. If I was in the market for the model that you are interested in right now, a 2005 BMW 325xi, I personally would not lease it. It's current lease program is not very attractive. You may want to look into leasing a used 325xi if you cannot afford to finance a brand new one. BMW is one of the few manufacturers that provides attractive leases on used vehicles from time to time. I don't know what sort of lease support it is providing on used 3-Series models this month, but it's worth looking into.

As far as Lexus goes, it is providing a decent level of lease support on most models this month. If you let me know what Lexus vehicle you are interested in, I can give you an idea of what its lease program is like.

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CarMan@Edmunds

Hi Mikeko. Thanks for providing such detailed information in your post. According to the latest information that I have seen, if you were to lease a 2006 Mercedes E350 4Matic in August for 39 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00235 and 60%, respectively. Using these numbers, an MSRP of $57,965 and a selling price of $55,500, I estimate that this car should have a zero down, pre-tax monthly payment of around $744. You definitely should be able to negotiate a more attractive selling price than the one that you mentioned though because Mercedes-Benz is providing a cash incentive of $1,500 on leases of this car in August. Make sure to take this cash into account when negotiating your car's capitalized cost. Mercedes' lease program is fairly attractive on this car right now. It is difficult to say what its new September lease program for it will be like. there is a chance that its residual values will drop next month. This would make it more expensive to lease unless Mercedes increased its support on it by raising the cash incentive or lowering its money factor.

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marcz

Thanks for the information. I wound up leasing a fully loaded 2005 SE instead. MSRP in CA is $53,645,invoice is $48,888. I got $3,500 in rebates and dealer discount, plus $500 of additional equipment thrown in. For the 36 month lease, Land Rover is subsidizing the residual so it's 57%, which I thought was good considering it's the end of the model year. The money factor was .00203.

CarMan@Edmunds

Hi bosoxin04. The lease money factor and residual value that you were quoted for a 42 month lease of this truck are right in line with American Honda Finance Corp.'s lease program for it. In my opinion, you would be better off leasing this truck for 36 months though. The reason why the money factor that you were quoted is higher than AHFC's special .00178 factor is that the special lease program is only available for leases of up to 36 months in length. Since you are leasing for 42 months, you have to use AHFC's standard lease money factor for that term.

As far as how much you should pay at lease signing goes, at signing consumers usually have to pay their vehicle's first month's payment, a security deposit that is equivalent to that payment rounded up to the nearest $25 or $50 increment, the acquisition fee charged by the bank that they are leasing through (AHFC charges $595), any capitalized cost reduction that they choose to make (ideally this would be $0), and any required state taxes or fees.

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CarMan@Edmunds

You're welcome timmboj. According to the latest information that I have seen, if you were to lease a 2006 Saturn Vue AWD V6 through GMAC right now for 24 months with 15,000 miles per year, its base lease rate and residual value should be 2.72% and 58%, respectively. The numbers for an otherwise identical 36 month lease should be 2.72% and 49%.

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baserunner

Good morning ! Car Man

I am going to lease a 2005 Nissan 350Z Grand Touring Roadster. The MSRP is at $41,000. The lease term is 36 months. Mileage allocated per year is 15,000. Monthly payment is $595.00. Close end lease. $5,000 downpayment at the time of signing. My questions are as follow :

1. Since September is just around the corner, should I lease a 2006 instead of 2005? Should there be a different in the monthly payment since 2005 model is already a year old? Is there any major changes in 2006 model?

2. What is the lease amount I should go by? MSRP, Retail or Invoice. Would the dealer give me the invoice amount?

3. Is there any rebates, dealer incentives or others that you know of for 350Z Roadster?

4. What is the purpose of the $5,000 downpayment? Is it to pay down the cost of the Z, so the monthly lease payment would be smaller?

Thanks for your advice.

Baserunner

CarMan@Edmunds

Yes, smd5, American Honda Finance Corp. offers 24 and 30 month leases on Acura models. It is not currently providing lease support on any length lease of the 2005 Acura TL though. As a result, if you were to lease one through AHFC right now, you would have to use its standard lease program. According to the latest information that I have seen, AHFC's current buy rate lease money factor and residual value for a 24 month, 15,000 miles per year lease of a 2005 TL without navigation should be .00365 and 66%, respectively. The numbers for an otherwise identical 30 month lease should be .00365 and 61%. AHFC's standard lease money factors decrease as the length of leases increase. You would be much better off leasing this car for 33 to 39 months. Its factor for those terms drops to .00240.

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aggietx

CarMan,

Would you provide me with the Resid. & MF for 05 Accord EX V6, Leather @ 36 & 39 months with 15K per year miles. Thanks.

Also, 05 G35 sedan, premium & Sport package, auto for 36 & 39 month with 15k per year. Dealer told me 39 month would be 57% and .00171. Are these correct. Also dealer has 100% tax credits available. Do you know how long tax credits typically last?
Thanks.

CarMan@Edmunds

I'm glad that you find this discussion so helpful, steveholly. Excellent choice in cars. The new VW Passat is a great value for the money. The 2.0T engine is fantastic. Let's just hope that it proves to be more reliable that certain VW models have been in the past. I can give you an idea of what its lease program should currently be like. According to the latest information that I have seen, if you were to lease a 2006 VW Passat 2.0T Sedan (not the Value Edition) through VW Credit on or before September 6th for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be an attractive .00065 and 57%, respectively. 15,000 miles per year is the highest mileage allowance that VW publishes residual values for. If you need to drive more miles than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

I would be happy to give you an idea of what sort of monthly payment to expect on a lease of this car, but in order for me to do so I need you to provide me with an approximate selling price for it. 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 car 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 car that you are interested in for you if you let me know what its selling price is.

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CarMan@Edmunds

Hi max19. While GMAC's lease program for the 2005 Pontiac GTO is bad, it's not as bad as the numbers that you were quoted. GMAC's current buy rate lease rate for a 48 month lease of a 2005 GTO is 7.25%. Did you say that you are currently $8,681 upside down on your current vehicle?!?! If that is indeed the case you would be MUCH better off waiting until you are less upside down on your current car or truck to get something new. I would be happy to calculate an approximate lease payment on the GTO that you are considering for you, but in order for me to do so I need you to tell me its full MSRP (with the destination charge added in).

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CarMan@Edmunds

Ahhh, I see that you provided the MSRP that I asked for in a subsequent post. OK, According to my calculations, without your negative equity a 48 month, 12,000 miles per year lease of a 2005 Pontiac GTO with an MSRP of $34,185 and a selling price of $31,700 leased through GMAC right now would have a zero down, pre-tax monthly payment of around $464. I highly doubt that you would be able to add all of your negative equity into this lease. Chances are that GMAC would only let you add in enough to make this car's capitalized cost say 110% or so of its full MSRP. Let's say that you were able to add $3,000 in negative equity into this car's cap cost. That would increase the payment for an otherwise identical lease to around $536.

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CarMan@Edmunds

No problem x021627. Thanks for the additional information. According to my calculations, if you were to lease a 2005 Lexus EX 3300 without navigation with an MSRP of $35,909 and a selling price of $32,508 through LFS right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $437.02. Your calculations were off by a penny . If you like the car, I don't see any reason not to pull the trigger on this deal.

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CarMan@Edmunds

You're very welcome msdavis. The money factor and residual value that they quoted you to lease a 2005 Phaeton V8 are right on the money. You should be able to get this car for well below full MSRP though. Unfortunately, Volkswagen is not providing any sort of lease cash on this car right now. The only cash incentive that it has on it is $5,000 dealer cash that cannot be used in conjunction with the aforementioned special lease program. This car's 48 month money factor is higher than its 36 month factor. VW Credit's 15,000 miles per year residual values are 2% lower than its 12,000 miles per year residuals.

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samsone

Hey CarMan, forgot to include prices. The negotiated price on the Subaru is 17,990 and on the Saab is 20,000. Can you tell me what I should expect to pay?

CarMan@Edmunds

Hi Bhavin. I think that your calculations are a little off, using the numbers that you provided in your post I came up with a zero down, pre-tax monthly payment of $665. I'm not sure why neither your payment nor the dealer's payment match the one that I came up with.

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msdavis

Many thanks for all of the help. I was able to use swapalease.com to get rid of my dad's old lease and am looking for the best deal on a nice car for him. Because it is so close to the end of the month and last year vw put pretty special leases on the phaeton I am going to hold tight and check for special money to reduce the price of this lease. Thanks again

baserunner

I posted a message an hour earlier under " Leasing 2005 vs 2006". When can I expect an answer from Mr. Car Man.

Please advise.

Baserunner

CarMan@Edmunds

Hey djocks. According to my calculations, if you were to lease a 2005 Honda Accord Sedan EX-L with navigation through American Honda Finance Corp. with an MSRP of $32,120 and a selling price of $29,000 right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $410.

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kyfdx

Car_man usually gets through the posts about once per day... sometimes more, sometimes less...

Subscribe to this discussion... then check back later.... tonight... or tomorrow morning... Once you subscribe, you can click on Read Subscriptions and it will pull up any new posts...

regards,
kyfdx

CarMan@Edmunds

Hi hunt4car. The shortest lease that most banks offer is 24 months. I have seen a few banks that allow consumers to lease for 12 to 18 months, but these leases are extremely expensive. New vehicles experience their highest rate of depreciation during the first year of ownership. Short leases like the ones that you are interested in are very expensive because they do not provide the large number of payments to spread out this large initial depreciation hit out over that longer leases do.

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CarMan@Edmunds

Hello benj100. I would be more than happy to give you an idea of what this van's lease program is like. However, in order for me to do so I need you to tell me what state you plan on leasing it in. I ask because Toyota's lease program often varies depending upon which one of its twelve regions one is in.

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CarMan@Edmunds

Hi smbnj. You never mentioned if you are interested in leasing a 2005 or a 2006 Volvo S80. This makes a big difference because the lease programs for these two cars are completely different. Let me know and I will give you my opinion of your deal.

Car_man
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