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Car Lease Questions: Ask Edmunds.com

Edmunds.comEdmunds.com Posts: 9,975
edited May 2017 in Editorial
imageCar Lease Questions: Ask Edmunds.com

Leasing a car can be complicated, so it's no surprise that we've been fielding quite a few lease questions lately here at Edmunds.com.

Read the full story here


Comments

  • atos2013atos2013 Posts: 3
    edited June 2016
    Hi there,

    Can you please help. What is a step by step procedure to become leasing auto broker. What type of license do i need (retail or wholesale)? Do i need auto broker endorsement or something else? I just passed my pre-license dealer class in SoCal. But my teacher didn't know non about leasing cars. What is a typical lease auto broker fees for customers? I have seen some lease auto brokers charge $350 per deal and some says they get paid from dealers. If so, how much does they get paid by dealers %(+ or -). Any information will help. Thank you very much in advance. Eugene:
  • joe131joe131 Posts: 996
    Seems like great lease deals are great... at least for the dealer.
    Let's say a dealer agrees to a price $1000 lower than MSRP, about a 3.5% discount, then gets the customer to sign over any applicable rebates and incentives to the dealer. If those amount to $2400, then the dealer is getting not only MSRP for his car, but $1400 over MSRP! So then the benevolent dealer "pays" the drive-off fees for the lessee: 1st month payment plus doc fee plus title/license plus $500 cash down payment, maybe a total of $1400. In that case, the dealer just made a full price MSRP deal. And if he buys the nice, late model, low mileage lease return from the finance company or factory rep, the car he just took in on the deal, maybe he can make a nice profit on it too.
  • patl123patl123 Posts: 1
    did any one hear of this before? Iam at the last couple of months of my lease, started looking for my next car and was told I can not return my Hyundai even if I pay the car lease in full. until all 48 months are up.
  • kyfdxkyfdx Posts: 104,325
    patl123 said:

    did any one hear of this before? Iam at the last couple of months of my lease, started looking for my next car and was told I can not return my Hyundai even if I pay the car lease in full. until all 48 months are up.

    To fulfill the contract without penalty, some banks require you to take it until end of term.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Hi guys, I never leased a car so I'd like your opinion.

    I'm interested to lease a 2018 Audi Q5 Premium Plus package with few extras. I don't have to pay anything just pick up the key and sign the lease papers. They even pay my first month lease.
    I will only have 35 months to pay.
    36 month term
    12,000 miles
    $0 due at signing.
    $0 money down
    Invoice amount of $48,760
    MSRP: $51.850
    36 month lease term (first month paid by the dealer)
    12,000 miles/annual.
    Premium Plus Package plus
    Extra Equipment included:
    - Bang & Olufsen sound system with 3D sound
    - 20" wheel package,
    - Navigation Package,
    - Cargo cover

    Sales tax: $4,142.58 included in the monthly payments.
    Dealer state fees: $445.00 included in the monthly payments.
    1.) Monthly payment is $746.72
    2.) Monthly payment is; $548.90 if 2008 Honda CRV EXL 84,000miles trade in value $6,500
    3.) Monthly payment is 518.46 if 2008 Honda CRV EXL 84,000miles negotiated trade in value $7,500 (once they see my car and is in good shape)

    Residual value is not listed on the proposal.

    Is this sound like a good deal and fair numbers?
    Thank you
  • kyfdxkyfdx Posts: 104,325
    @brigitta

    Please re-post in the 2018 Q5 discussion, here:
    https://forums.edmunds.com/discussion/45058/audi/q5/2018-audi-q5-lease-deals-and-prices#latest

    Also, please mention your state and tax rate, when you re-post.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • 2018 RAV4 LE on 24 months lease, 12K miles a year for $175 per month with $1500 down which includes Tax, Fee, 1st month payment.

    Does it is worth deal for CT state?

    Thank you

  • MichaellMichaell ColoradoPosts: 94,113
    rajesh12 said:

    2018 RAV4 LE on 24 months lease, 12K miles a year for $175 per month with $1500 down which includes Tax, Fee, 1st month payment.

    Does it is worth deal for CT state?

    Thank you

    Please repost in the 2018 RAV4 lease thread, here:

    https://forums.edmunds.com/discussion/48763/toyota/rav4/2018-toyota-rav4-lease-deals-and-prices#latest

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

This discussion has been closed.