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Car_man
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Are the base MF's the best they offer--i.e. to those with the best credit or will an excellent credit sore reduce the MF even more? Also, do you know the acquisition fee for the Acura? Thanks.
Thanks for your prompt response. I understand the 'option value' of staying with a lease, which can be significant in case of an accident or if I end up liking a different car and my original lease residual was inflated. As you indicate, the value of this option, while hard to quantify, can be quite significant.
Alternatively, using a very rough calculation, the total interest I pay is about ~$6K (~$30K cap cost, ~$18K residual, ~$19K total payments). If I buy now, I could technically save $3-4K in interest payments. This is probably significantly higher than the break IFS would give me at lease end. I believe they don't have an early termination fee.
If I ignore the option value, it does seem like reasonable savings, especially considering that banks pays out <1% these days. Am I missing something else?
Thanks
You also might check your payoff. Even though it isn't listed as a prepayment penalty, some lessors charge a percentage of the unpaid rent charge if the lease is ended early. The payoff may be more than you think.
regards,
kyfdx
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Two options:
BMW 325iT 42 month/12K, MSRP 39,450. Can I get the MF and Residual?
Audi A4 Avant, 42 month/12K. Not sure if Audi is better at 39 or 42 Months.
Thanks much!
Dave
Thanks again!
Can you tell me the MFs & Residuals you were using to calculate my lease payments for the Honda Accord LX & the Toyota Camry LE?
Thanks!
Please let me know what you think about this lease I received from a local BMW dealer in the SF Bay Area:
04 325i $34530
Black
Black Leather
Premium
Sport
Navigation
MACO $ 245
Training Service fee $160
Cap Cost $35960 ($500 over invoice & $525 Aquisition fee rolled in)
36 months lease/15K miles $467.47/month (tax included)Residual 61%
24 months lease/15K miles $495.79/month (tax included)71%
30 months lease/15K miles $479.08/month (tax included)66%
MF: .00125
Total Drive Off: $1258.47
In answer to your question about acquisition fees, I believe that American Honda Finance Corp.'s current base fee is $595.
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An early termination fee is the difference, if any, between the unpaid adjusted capitalized cost and the fair market wholesale value of the vehicle. This basically represents the present value of monthly payments not yet due on your lease and the purchase option price less the wholesale value of the vehicle." For more info on leasing through IFS, check out the following site: Frequently Asked Questions Regarding Infiniti Leases.
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Thoughts? Did I calculate wrong? Thanks.
I came up with right around $489.00 including tax.
If they are indeed using all those numbers, then something smells. That MF looks just slightly low to me.. But that would only make a difference of a few dollars. My guess is the price he gave you doesn't include destination, document fee, cigarette break fee, and My boat payment is due fee...
Ask them for the cap cost.. It should be $30,300 plus $595 acquisition fee for a total of $30,895. If it is higher than that, then they are playing with you.
regards,
kyfdx
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I suspected I would be unable to lease the CLK 55; perhaps the dealership will discount the vehicle enough that I could afford the purchase. Are there any leasing incentives for 2003 Mercedes E500s? The cap. cost is $55K, 36-39 months, and 15K miles per year.
Thanks again.
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I really lit into him last night on the phone when he quoted me $580/54% residual. I told him I know the residual is 56, you're playing games and ticking me off, you should be at about $490 out the door w/ 56% and invoice. Told him get real if he wants to sell the car. Well, this morning I got a contrite, tail-between-the-legs apology in my voicemail claiming he was using the navi residual of 54% by mistake. Yeah, right.
I've got another dealer who I've told I will do $490 out the door. I'll keep you posted. Thanks for all your help.
Now that you know about where it should be, I would focus on my monthly payment and drive-off costs. $475/mo with $1000 due at signing with all taxes included would be what I would shoot for.
regards,
kyfdx
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The MSRP is $37820.
Where do you think the sweet spot is on my lease? 36, 30 or 24 months?
Thanks again.
Two things:
1) Why is drive off so high? Registration or DMV fees in addition to the security deposit?
2) You might ask if they can waive the acquisition fee.. They can do that by adding .00015 to the MF, giving you an MF of .0014. Taking the ACQ fee out of the cap cost and using the higher MF lowers your payment by about $7/mo. on the 36 month lease.
regards,
kyfdx
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Thanks for the advice. I will follow up with IFS and see what the actual numbers are.
Sec Dep. $500
Lic. $286
Tire fee $5,
Acq. Doc $5 and
first payment $467.47
Thanks for your advice on the Acq. fee., I'll check with the dealer.
Thanks Again,
k-train.
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My quote:BMW 325ci coupe
Titanium silver metallic
Black Leather
Premium package
Sport package
Steptronic automatic
Heated front seats
MSRP $37,895.00
Sell price $35,900 with floor mats
Lease 15,000 miles per year
36 months
$492.32 / month(seems high)
New plates, reg , tire fee etc $167.50
Security deposit ( refundable at lease end ) $500
Taxes $1,462.19
Total amount cash down $2,612.01
Deposit $1,000
Total amount due at signing $1,612.01
Also he said the lease acquisition was $800.
This drive off seems high.
Also he said you have to pay taxes up front. Is it because we are in NY?
Thanks for your help.
selling price $37,996.56
+gmac capital cost reduction $1400
+gm card bonus $1000.
=2400 down payment
48 month lease 12k miles a year
also please state money factor along with residual. thanks car man
I am looking into leasing a 3-series pretty soon. I was told to run the following by you before I lock the deal.
325 Ci (coupe) 36 months residual 60.1%, 24 months residual 67.7%
OR
325 i (sedan) 36 months residual 64%, 24 months residual 73.5%
Money factor 0.0018, bank fee $725
Can I do better? I was told that I can not negotiate the residuals but I can negotiate the money factor and bank fee.
Thanks a lot in advance!
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You are correct. Audi had a very aggressive lease program available on the 2004 A4 in March. Somewhat similar vehicles that had attractive lease programs available on them in March include the BMW 3-Series, Saab 9-3 / 9-5, Volkswagen Jetta / Passat, Jaguar S-Type / X-Type, Nissan Maxima, and Volvo S60 / S80. Having said this, the majority of these vehicles' March lease programs only run trough today and it is difficult to say what their April programs will be like. If you see any models on this list that interest you, take them out for a spin to decide if you like them. If you do, feel free to ask me what their April lease programs are like in a few days.
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