Lease Questions - Ask Here

gteach26 · April 2004

Thanks for the advice Terry (and Carman). I wasn't very clear in my earlier post. You see, I am in no hurry to get this car. If I wait until December of course I'll be leasing an '05 LS430... and as to the "December to Remember "gimmick" -- here in South Florida it is not a gimmick.

I am by no means an expert car buyer, but I do know that there is a very competitive Lexus market here in South Florida (7 dealers within a couple hours drive), and in fact, one of our dealers here gets a special allocation of vehicles from Toyota. Cap costs here are MUCH lower than around the country, and in December --especially late December, things get really hot (yes, the weather too sometimes)

I know I cannot predict the future, but I'm willing to bet waiting 'till December will get me "close to invoice" cap costs on an '05 LS430 lease -- without them tinkering with the residual. I know of three people who've pulled off spectacular deals on Lexus products in December, and yes, they've showed me the details(proud little critters that they are) -- no fish stories there. If I can shave off 2-3K off of my total lease cost over 4 years on this car (let's say around $50-$70 bucks a month)I think it is worth it to wait. If my logic here seems off (and it might be) I'm eager to listen and learn if you have any other input.

Thanks!

imariquinn · April 2004

I had bought a 2000 honda odyssey used in august 2002 for $20000. It was financed. It was not a reliable car, tranny problems, went back to the honda dealer and traded in for a 2003 odyssey in nov 2002. This time I leased. I was upside down because the 2000 ody was worth substantially less than what I paid earlier that august. So I paid $3000 down and did a 48 month lease on the 2003 to get out of the 2000. Payments $486 plus tax on the lease. Now I have tranny problems with the 2003 and it is part of the recall. I have 31 payments left on my 48 month lease. I call up my honda salesperson to ask about the current lease deals. He tells me that I can get a 2004 (that is NOT in the current recall VIN#s) for the same payment I am paying now for 24 months and they will buy my 2003 back from me. So $486/m for 24 months on a 2004 ODY EX-RES (dvd player, cloth). At lease signing I pay $1600 including first lease payment, tax, tag, title, doc fees, etc). They have the color I want and I am all caught up in getting out of the 2003, but I don't want to make things worse, this is a better deal right? I have 7 months less in payments and I get a new car with a DVD Player and (hopefully) no tranny problems.

I know, you are asking WHY do I keep buying HONDA's?? I have to drive a van (6-7 seater) with 4 kids and seems like all the van makers have issues.

Do you think I would be better off trying to sell the car myself or to Carmax? I lease (or buy from dealers) to NOT have to deal with selling cars on my own and like (of course don't need!) a new car every 2 years or so.

thanks

gteach26 · April 2004

Imariquinn, that deal/trade you mention above simply sounds too good to be true... They are letting 31 months of lease payments "disappear" and letting you lease an oddy for 2 years at a that price?

I'd be VERY careful when you go to do the transaction...something smells fishy. I'd be curious to hear what the experts in here say about this deal...

imariquinn · April 2004

well, they told me that they would pay off my honda lease by BUYING the car from me to pay off the lease. They got the pay off from HFC-honda finance corp. Then with the new lease I would be paying the same amount (instead of the great $259/month currently offered) that I am paying now for 24 months (23 plus the one paid down during lease signing).

What questions should I ask before I sign? It looks like they are adding money ON to the purchase or cap cost of the car. HFC says their deal is based on a $27000 vehicle and mine looks like it would be $32000 cap cost if I read the negotiations correctly.

I am supposed to do this tomorrow (sign on the dotted line). They inspected my vehicle today.

Also, i have purchased 3 vehicles from this dealer in the past since 1998 and have a a mid 700 fico with previous HFC loans all satisfied. That does not mean they won't try and screw me of course.

kyfdx · April 2004

The current deal on the Odyssey lease is for $259/mo with $1600 due at signing... So, if they are hitting you for $486/mo, that seems about right.

You know, the bad transmission is just a straight swap-out. Unless you have had other problems, I don't think that one repair makes the Odyssey a bad vehicle. My wife had it done on her Accord and it was the only repair the car had in 50K miles.

I guess the good thing is, if you stick with this lease for the 24 months, you will be under warranty the whole time, and your negative equity will be gone by the end of the lease.

I'm not sure how upside down you are on your old lease... It looks like they are just trying to keep your payments the same to make the deal look good to you... you might try negotiating a little harder.... tell them you need to get out the door without paying $1600 up front... maybe ask them if they can do it for $1000. I'm betting with all the negative equity, they've got a lot of cushion on this deal.

This could all work out, if you stick with one of these leases till the end...

regards,
kyfdx

ira · April 2004

Your advice is requested on how to proceed on reporting a dealership for unprofessionalism such as yelling at a customer, catching the dealership in multiple lies, and threatening numerous times by the owner and the director of sales to not sell me a car and that they would not spend more than 30 minutes with me or tie up half his people just because I was asking intelligent questions from doing my homework and even after going down a second time to the dealership not being shown the information I requested even though I was promised it if I showed up. By the way, this was going to be the third vehicle I was going to buy from them. I deefinitely want to take action so this does not happen to other customers. I intend to buy this vehicle, but obviously not from this dealer. Please help.

purduealum91 · April 2004

Hello,

Are there any lease deals on this car at the current time? What can I expect for a 3 or 4yr lease? Which is better? Thanks!T

Tom

carlosrg · April 2004

Hi I like some advise.

I want to buy a Volvo S60 R I have loaded with auto, touring, premium, and climate. It adds up to an MSRP of 43470.

I understand that Volvo currently has till the end of the month today (being the reason I am asking for extreme help) is giving 4500 towards a lease option or atleast I understand it. And also $1000 cash back from manufacture. So I understand there is 5500 on the table.

My question how do I get the best deal on this car I will be trading in a 2003 G35 Coupe which has a payoff of 31K and probably 28K so I have 3K of negative equity in the car. And have a baby on the way and want something I can put a baby seat in.

So what kind of deals should I be seeing on this car?
I am thinking I want the car for say 39-42 months. My beacon score is 740 and my wifes is 760.

Thanks in Advance

njdriver1 · April 2004

Hi Car Man:

In talking to a dealer of one kind of car we were quoted a low money factor from a bank (say Chase). But other dealers were quoting higher money factors from different lenders (say Citibank). Can I suggest to a dealer, say of Acuras, that he call a certain lender that quoted a lowey money factor at, say, the Infiniti dealer (all names changed to protect the innocent)? Or do lenders quote different rates on different cars to different dealers?

cody · April 2004

Hi there,

Looking to lease a TSX non nav for 36 months. So far the quotes that I got are $390 a month with 2k down. This seems pretty high to me. Appreciate any help with lease info for this car you can give me.

Thanks !!!

cjs2002 · April 2004

MSRP on it was 32650, but if there going to start a new lease program in a week or two feel free to wait till you know those details then hit me back with the numbers

thanks

bmwannabe · April 2004

Thanks for responding Car_Man!
Would it be possible for you to update the board when you do find out about the May lease terms for the 325i? (24 or 30 or 36 month with 15k)

CarMan@Edmunds · April 2004

No problem, superman5. I'm always glad to help.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · April 2004

Hello scottyt24. I have seen this model's April lease program, but if I am not mistaken, I believe that Acura will begin using its new May program this weekend so the April info doesn't do that much for you. I should be able to get an idea of what its new May numbers are like by the end of next week. Please feel free to check back with me then and I will be more than happy to will you in on what I have been able to find out.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · April 2004

Thanks for the additional information, spatulaman. I am sorry to say that the highest money factor that I mentioned in my previous message to you is the one that is available in Texas right now. This wagon's most attractive money factors are available in the North Central U.S., in states like Illinois, Iowa, Missouri, and Wisconsin to name a few. I don't believe that you can get this rate just by going to one of these states and leasing this model. If I am not mistaken, the factors are based upon the lessee's home state, not where they physically take delivery. This program is only scheduled to run through May 5th. It is difficult to say what Audi's factors and residual values will be like for the allroad after that date. It's good to hear that you are eligible for Audi's owner loyalty cash. That makes a good deal even better. How do you like your TT? I have always been a big fan of it. I love its styling, but personally feel a little cramped when I try to drive it.

Car_man
Host
Smart Shoppers / FWI Message Boards

hpowders · April 2004

Hello Car Man. Please provide me with the residual and money factor for a 2004 BMW 530i, 36 months, 12,000 miles per year in Florida.
Thank you!
Howard

CarMan@Edmunds · April 2004

Hi imariquinn. You definitely should be able to lease a Honda Odyssey for much less now than you would have been able to a couple of years ago. Honda is providing dealer cash and special lease rates on this van to help dealers unload them before the redesigned 2005 models begin to arrive. Plus dealers are much more willing to provide discounts on this model than they were a couple of years ago. Unfortunately, the payment that you were quoted is fairly high, compared to what you would be able to lease an Odyssey for at this time if did not want to get out of your lease early. If is often very expensive for consumers to get out of leases well before their scheduled expiration dates. To give you a point of reference, this month Honda is advertising a 2004 Odyssey EX cloth with DVD for $259 per month over 24 months with $999 down. This is a lot less than what you are currently paying and were quoted on a new similar van. You may be able to get out of your current lease and lease a new Odyssey for less than the deal that you were quoted if you negotiate a little bit or comparison shop with a couple of dealers. If you try to sell your leased vehicle on your own, you will have to purchase it from the bank that you are leasing it through and may end up having to pay money out of your own pocket to cover any negative equity that would have been rolled into your next lease. This may be a better way for you to go because consumers usually can get more money by selling their vehicles on their own rather than trading them in, but if you sell on your own you will have to pay money rather than rolling your negative equity into your next deal.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · April 2004

Imariquinn, the reason why the capitalized cost of the van that you are leasing is so much higher than the one in Honda's advertisement is the dealership that you are working with had to purchase your old van from American Honda Finance Corp. They most likely had to pay more for it than it is worth on the open market right now. They are adding the difference in what they had to pay to get you out of your lease and the van's current value onto the price of the new van that you are leasing.

Car_man
Host
Smart Shoppers / FWI Message Boards

spatulaman · April 2004

Highest MF. Great. That's just ghey as he||. Why do they vary the MFs like that....would that be negotiable at all?

Anyways....the TT, I don't feel cramped in it...its really quite roomy, espescially when I compare it to my '94 RX-7. Now the side windows are kinda short, but I don't mind that, and there's plenty of space everywhere else. Yes, the car is pretty to look at, but the brakes, acceleration, and handling are mediocre at best. I don't detest it to the point that I would get rid of it, except for the fact that I usually need more cargo space than it has.

spatulaman · April 2004

Okay...since the numbers on the Allroad are so rotten for us Texans, and I'm not totally in love with the way it looks, wouldya please look up the lease numbers on a 2004 FX 35 RWD with touring and sport packages? 36 months 12k and 15k miles

jbowman3 · April 2004

Car Man,

Drove an A4 Avant 3.0 and I like it! What are the numbers ...39mo./15K in NY. for this car. Thank you so much for your help.

JB

nickjc · April 2004

Carman--

I have an interesting scenario, and hope you have an answer that I can pass along.

Buyer and dealership come to an agreement on a certified pre-owned vehicle at a purchase price of $44K AND dealer agrees to payoff buyer's lease (~$4800). Purchase price of vehicle on the contract of sale is $50K and a "We Owe You $4800." Contract is signed due to idiocy. This occurs in Maryland.

Does buyer have right to rescind the contract, and if so, for how long (i.e. limitations/notice requirement)? Thanks again.

chris23 · May 2004

Hi Car_Man,

We finally got our Accord EX-L yesterday, however, I wasn't happy with the money factor they gave us. We agreed to $22,500 for our cap cost on a 36 mo lease at 12k per year. The residual value was exactly what you had told me - 59% of MSRP ($24790) - but the money factor was 0.0001 higher than expected. At first I thought they had made a mistake and added that .0001 because the security deposit was waved - but this is our 3rd AHFC lease in a row, so under AHFC's rules, the security deposit is waved as part of their Leasing Loyalty (whatever the name is) Program. Plus, what makes it worse, is I specifically asked the sales person about this possible scenario, and she said the leasing program waiver had no impact on money factor. When I questioned the sales manager - he was the one doing our F&I paperwork - he actually got defensive with me and was extremely rude. He basically said I didn't know what I was talking about. I pushed as hard as I could, and was very close to just walking away, but decided it wasn't worth more than about $130 over the lease life. Anyway, we got out the door with $290/mo payments, which I'm satisfied with. I probably could have gotten them down to invoice or maybe a little below, but it wouldn't have made much difference over these next 3 years.

Anyway, I'd like to know what scenarios could lead to us having to pay a higher money factor than the base money factor of 0.00146 you quoted to me earlier. Our credit rating is very good. I was under the impression that if AHFC qualified you for a loan, THAT was the MF you got. Thanks again for all your help with this lease, Car Man.

Chris

epz123 · May 2004

Researching my first ever lease for a BMW 325i-330i. Im hopefully trading a 2002 Toyoya Camry
Edmunds TMV worth 12K now, bought used at 15K and I have roughly $6K left to pay.

How does a trade-in work with their promotion offer at $289/mo?
How does that breakdown with what is due at signing? Im assuming it lowers the upfront costs but is there any fees I should be aware of? In addition, is it worth getting the premium package to help with residual?
Which is better, a 24 vs 36 mo lease with the projected new designs coming?
At the end of the lease , better to continue to lease a new model or buy out ?

I would appreciate any guidance .
Thanks in advance to Car man and this forum!
Ejz

jbowman3 · May 2004

Car Man,

After driving everything available (and I mean everything) I've come to the conclusion that the allroad is my 'soul mate' vehicle. Nothing I've driven comes close to providing the utility, quality, and the 'fun factor' that the allroad does. My only hope is to get a good one this time. "It's hard to keep them down on the farm once they've seen the the bright light of the big city".

If you will Car Man Sir, please provide numbers for a 39/15K and 12K lease in NY. BTW, do you think the MF will go down in May?

Thanks again....

phauol · May 2004

Hi Carman

I was given a G35 sedan with auto/leather/premium/trunk matt/splash guard for a cap cost of 31500 in San Jose/CA. The money factor is 0.00197, term is 36 mth and residue is 58%. Bank fee is 795. All of them except the cap cost seems high to me. I would like to ask does the Dealer able to mark up money factor, residue (mark down) and Bank fee for profit? Thanks for your help in advance.

phauol · May 2004

I forgot to state that the term for the G35 lease is 12k/yr.

BTW, I am also interested in leasing a 3 series. Since my commute is short I need only 10k/yr, does it help to bring the residue up for the 2 yr lease? What is the base MF for 330i, is it different than 325i? Thanks

anonymousposts · May 2004

We just took advantage of the Honda Odyssey 2 year lease deal. We took it on the advertised terms. We tried to negotiate a bit but I am now wondering if we should have negotiated more?

CarMan@Edmunds · May 2004

Hi purduealum91. I April, Audi had an attractive lease program on the 2004 A4. It's April lease program was only scheduled to run through May 5th. I have not had an opportunity to take a look at its new May program yet, but should have had a chance to by the end of the week. Please fee free to post a quick reminder for me in this area then and I will be more than happy to fill you in on what I have been able to find out. If you would like me to work up some sample lease payments for you, make sure to provide the full MSRP and selling price of the vehicle in question.

Car_man
Host
Smart Shoppers / FWI Message Boards

joesu · May 2004

Car_Man,

  BMW's current lease offer for the 325xi is $329. Is that priced based off the current MSRP, or could I expect to negoiate down to a lower lease payment? Also, how are the lease rates looking for the Acura TSX and Infiniti G35 AWD???
   Thanks,
     Joe

andymotm · May 2004

Hello Edmunds.com and Carman...you are excellent. I went into my local infiniti dealership to inquire about a g35 lease. I was emailed numbers and would like your opinion.

Stock# I7176 Black on Tan Cloth
>
> MSRP $28,865
> Your Price $28,640
>
> $420 a month for 48 months at 15,000 miles a year
>
> Tax savings of $1430
>
>
> Stock# I7149 Twilight Blue on Willow Leather (No Premium Package
Leather
> Only)
>
> MSRP $31,030
> Your Price $30,203
>
> $435 a month for 48 months at 15,000 miles a year
>
> Tax savings of $1507
>
>
> Stock# I7178 Garnet Fire on Willow Leather (Premium Package)
>
> MSRP $34,395
> Your Price $33,598
>
> $475 a month for 48 months at 15,000 miles a year
>
> Tax savings of $1680

FYI, the tax savings expired April 30th. And i am not planning to put any money down. He did say that the only payment would be 1st month payment and the car was mine.
I'm new at leasing and don't want to get played. I do believe that the pricing is a bit high. What do you say? Thank you in advance.

ponytrekker · May 2004

You didn't ask me but I think you're getting ripped.

CarMan@Edmunds · May 2004

Hi carlosrg. Congratulations on the expected baby. You need to do a little research on your current car's value prior to entering into any negotiations. You can do so by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also should stop by the following discussion: rroyce10 "Real-World Trade-In Values" May 2, 2004 8:38am. One of our most knowledgeable community members, Terry, hangs out there and he is usually kind enough to give others an idea of their vehicle's current worth if they provide an accurate description and where they live.

As you already seem to be aware, Volvo's April incentives just expired. I would be more than happy to work up some sample lease payments on the car that you are interested in for you. I should have an idea of what the new May program is like late this week. Check back with me then with its full MSRP and selling price and I will be able to give you an idea of what sort of payment you can expect.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · May 2004

Hi njdriver1. Banks definitely do have different lease programs for certain models than they do for others. This does not necessarily mean that Chase isn't leasing Infinitis right now or doesn't have as attractive a program on that brand though. Infiniti Financial Services actually has a reasonable lease program on most models. I have a feeling that you will be able to lease most Infinitis for less through IFS than you would be able to through an independent bank. What model are you specifically interested in?

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · May 2004

Hello cody. Acura is expected to introduce its new May lease program this week. I would be more than happy to give you an idea of what it should cost to lease the TSX that you are interested in right now. Please feel free to check back with me in this discussion late this week with the full MSRP and approximate selling price of the car that you want. I should have had an opportunity to take a look at Acura's new lease program by then and will be more than happy to help you out. Talk to you soon.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · May 2004

No problem, bmwannabe. Post a quick reminder in this area for me towards the end of the week and I'll fill you in on what I have been able to find out.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · May 2004

Hi Howard. BMW is introducing its May lease program very soon. I should have had a chance to take a look at it by the end of this week. Please check back with me then and I will be more than happy to try to give you an idea of what this car's new program is like. Talk to you soon.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · May 2004

It is difficult to say why Audi decided to go with a regional lease program in April, spatulaman. I have seen them run similar regional programs in the past, but that was a while ago. I haven't heard yet if they will have a regional program again in May or what it will be like. The money factor that I provided you with earlier is Audi Financial Services' base factor for your area. This is the lowest possible rate that you can get and individual dealers do not have any authority to lower it.

Car_man
Host
Smart Shoppers / FWI Message Boards

P.S. In response to your second post, I have not seen Infiniti's May lease program yet. I should have had an opportunity to take a look at it by the end of the week. Please post a reminder here for me then and I will try to give you an idea of what the latest numbers are like.

CarMan@Edmunds · May 2004

I'm glad to hear that you like the car so much, JB. The quattro certainly is nice to have in the Northeast. I believe that Audi's April lease program runs through May 5th. If you don't plan on finalizing your deal on this wagon before then, check back with me a few days after that and I will try to give you an idea of what the May numbers are like.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · May 2004

Hello nickjc. The person who is in this situation stands a much better chance of getting out of the deal if he or she has not physically taken delivery of the used vehicle yet. The dealership may try to give you a hard time, but if you haven't driven off of their lot in the used car or truck there is not much that they can do to force you to follow through with this deal. Of course, if you gave them a deposit they may give you a hard time when you try to get it back if you cancel the deal.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · May 2004

Congratulations on your new car, Chris. The 2004 Honda Accord is a heck of a lot of car for the money. Don't let your experience with the F&I guy ruin the joyous experience of getting a new ride. If you don't like the way that you were treated, you can always let Honda know when they send you your survey. With AHFC I believe you either qualify for its lowest lease money factors or you don't lease though them. The only reasons that I can think of for you money factor being higher than the number that I provided you with earlier are that you live in New York where AHFC's factors are higher, you were having it increased in order to waive your security deposit, or your dealer marked it up slightly to add additional back-end profit to your deal.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · May 2004

Hey Ejz. It is in consumers' best interest not to make any sort of down payment when leasing. I say this for two main reasons. The first is if your leased vehicle is stolen and never recovered or totaled in an accident 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 leased BMW's end of term purchase price will be exactly the same, regardless of whether you were to apply your entire trade-in allowance towards your BMW lease, or absolutely none of it. If you really want to trade in your current car on this new one, have the dealership that you are leasing from cut you a check for your trade rather than apply it towards a capitalized cost reduction for your lease. At lease signing, most banks require their lessees to pay their vehicle's first month's payment, a security deposit that is equivalent to that payment rounded up the the nearest $25 increment, and a lease acquisition fee, which in BMW's case should be around $525. You can apply part of your trade-in allowance towards these fees without any worries.

If you like the Premium Package by all means go for it, but the packages that this car is equipped with will have no impact upon its residual value percentages. As far as how long you should lease this car for goes, the longer you lease for, the lower your monthly payment will be. This is because new vehicles experience their highest rate of depreciation during the first 12 months of ownership. You can get a lower payment by increasing the number of payments that this initial depreciation hit is spread over. If you don't mind being committed to this car for 3 years instead of 2 there's no reason not to go with the longer lease because it will still be completely covered by your factory warranty for the entire 3 years.

Whether you should purchase your lease vehicle at the end of your term will depend upon how high its lease-end purchase price if. If you car's purchase price is comparable to or less than what you would have to pay for a similar car on the open market then you may want to consider buying it. If not, just turn it in and walk away. The nice thing about leasing is that if you are in an accident and your leased car has been repaired, you can just walk away from it at the end of your lease rather than being forced to take a hit for any reduced value as a result of the work that has been done.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · May 2004

Excellent choice in vehicles, jbowman3. If you were to lease a 2004 Audi allroad 2.7T through Audi Financial Services in New York prior to May 5th for 39 months with 15,000 miles per year, its base lease money factor and residual value should be .00090 and 53%, respectively. Its 12,000 miles per year residual value should be 2% higher than that. It is difficult to say what Audi's May lease program will be like. If I had to make an educated guess, I would say that this vehicle's residual values will fall a point or two and that Audi may lower its money factors to help maintain a similar payment, but again it is difficult to say exactly what will happen.

Car_man
Host
Smart Shoppers / FWI Message Boards

phauol · May 2004

Car_man

Would you help to answer the qs I had in the messages mentioned. Thanks

CarMan@Edmunds · May 2004

Hi phauol. Dealers definitely do have the authority to mark-up banks' base lease money factors and acquisition fees to add additional profit to deals. In fact, this sort of thing happens all the time. Dealers usually can not alter residual values though. Infiniti's April lease program just expired and I have not had an opportunity to take a look at its new May program yet. I would be more than happy to give you an idea of what it is like if you post a quick reminder in this area for me towards the end of the week.

Car_man
Host
Smart Shoppers / FWI Message Boards

phauol · May 2004

aries1 · May 2004

Dear Car_Man,
Please help. My Acura TL 2001 w/Navi lease is due on September 07. I have had preliminary talks with 2 Acura dealers and they both came with $2,600 down and $409 +tax for 2004 Acura TL w/Navi. I was told to make an order in June for the car. I've received a call from one dealer, who told me he has a car I want (Navi, Black/Black)and he will cut me a check for my 3 remaining payments and will finance them into a new lease. The numbers will be: $3,000 due at signing, $425 +tax/month for 48 months, 12,000 miles/year. The MSRP is $35,195.
How the original numbers look to you?
And second: should I take the offer now or wait till my lease is due? With interest rate to about start rising and residual value less in September, what should I do?
Thank you very much.
Aries1.

eagleeye3 · May 2004

Just my 2 cents re: the deal posted, because I was also consdiering a TL recently. However, I went with a BMW 325 - MSRP of $36,720 and my deal is $428/month plus tax. The term is shorter (36 months), same miles (12k), but at signing all I owed was the 1st payment plus DMV (zero down, sec. deposit incorporated into money factor, and acquisition fee rolled into sell price). So if your lease if for 48 MONTHS and they want $2600 at signing for a car with a lower MSRP and a questionable value 4 years from down - I'd say you're getting RIPPED OFF.....

anonymousposts · May 2004

Sales of the 3 series are down and the new body stle is right around the corner so I would think BMW has lease support on it right now vs. no lease support on the TL from Acura. And why would a TL have questionable value in 4 years?

aries1 · May 2004

Thank you for an input. I am not sure about being ripped off. Here is why: The True Market Value of 2004 TL w/Navi is $34,022. My original sale price is in the vicinity of $33,700. The second dealer who wants to incorporate my remaining 3 payments told me the price of the car will be $32,800 which is not far away from the invoice price. He told me he searched several banks and have found one with a "very aggressive" lease program. Since I have not seen all the details, including the money factor,etc.. I can't say at this point if this is RIPP OFF or not, since I talked to a sales person on the phone only.
While both dealers have plenty TL's without Navi, ones with Navi are in a great demand.

Lease Questions - Ask Here

Comments

Helpful Tools

Most popular vehicles