Lease Questions - Ask Here

audi_buyer · May 2004

Car_man, Could you tell me MF and Residual on an Accord EX V6 6MT 2-dr Coupe... for a 15/yr and 36 month lease......... and what will be numbers for an 15/yr and 48 month lease?and, I'm planning to lease it through American Honda
Also, are there any manufacturer to dealer incentives or lease specials on this model right now that would help me bring down my final selling price

Thanks in advance

anonymousposts · May 2004

There is $800 dealer cash on Accord coupes right now.

shaker58 · May 2004

Thanks Carman,

Went to dealer today special ny area numbers are 58% and .00076 MF msrp 46450 and selling for 43660
payment is 518 amth 3/36 bank fee 695 1st mth and taxes upfront no sec since coming out of volvo lease
Said no incentives are available since using special volvo rates no 2500 which I knew and the 1806 which I thought I would get. Still looks good since he's selling it for close to invoice.
Do you think I could do better??? he wouldnt budge.

ca_man · May 2004

Hello Car_Man

I'd be grateful, if you could provide the lease factor and the estimated payment for a 2004 Audi A6 2.7T for a period of either 36 or 29 months. I live in the SF Bay Area, California. Thanks !

neetak1 · May 2004

I would like to know what the MF and Residual Value on a JettaGL 4dr Sedan (2.0L 4cyl 4A). For a 15K/ year and 36 month lease & for 10k/yr, 36 month lease (would like to compare).
Also, what should i expect to pay on miles above the 10k? if i choose the 10k/yr.

I'm planning to lease it through VW dealer. I do not see any lease specials on this site but if you know of any, please let me know.

ps- why is it recommended not to put some money down?

fmiller · May 2004

The leases I am looking at are both 36 months, 15K miles, both cars without Navigation.

Acura TL base model MF and residual?

Accord EX V6 sedan MF and residual?

I understand there is $400 factory to dealer incentive on the honda, I also seem to remember something about $2,500 factory to dealer. Is that why I see alot of folks on this board getting cap cost well below invoice.

Does navigation actually lower residuals?
I expect to be doing a deal the last business day of May.
Thanx CarMan

hpowders · May 2004

Good morning Car Man. Please give me the residual and mf for a Lexus LS 430 in Florida.
Thank you.
Howard

CarMan@Edmunds · May 2004

I would be more than happy to help you out, joe222. If you were to lease a 2004 Audi A4 Avant through Audi Financial Services in California this month for 4 years with 15,000 miles per, its base lease money factor and residual value should be .00122 and 45%, respectively.

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CarMan@Edmunds · May 2004

Hello Simon. Here is the informaiton that you are looking for. If you were to lease a 2004 BMW 330i through BMW Financial Services this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00220 and 54%, respectively. The numbers for an otherwise identical lease of a 2004 BMW 330Ci would be exactly the same. As you are already aware, BMW has $2,400 dealer cash on all 2004 330 models, including the 330i, 330xi, & 330Ci.

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CarMan@Edmunds · May 2004

Hi jas413. Let's take a look at the current lease program for the model that you are interested in. If you were to lease a 2004 Honda Pilot EX-L with the rear entertainment system though American Honda Finance Corp. this month for 4 years with 15,000 miles per, its base lease money factor and residual value should be .00195 and 53%, respectively in every state but New York. The money factor for an otherwise identical lease with only 12,000 miles per year would be the same, but the residual value would increase to 55%.

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CarMan@Edmunds · May 2004

Hi siteexpert. I do not believe that Mercedes-Benz is providing any sort of lease support on the 2004 SLK right now. So, if you were to lease one through Mercedes-Benz Credit Corp. would would have to use its standard lease program. Its standard lease money factors vary, depending upon what your credit score is and possibly depending upon what part of the country you are in. MBCC's current 36 month base lease money factor for this car for consumers who qualify for its top credit tier should be around .00265. MBCC's 3 year, 12,000 miles per residual value for the 2004 SLK32 AMG should be 56%.

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CarMan@Edmunds · May 2004

Rxke, using the numbers that you provided in your post, I come up with a 3 year, zero down pre-tax monthly payment of $367 for the 2004 Toyota Highlander. I also come up with a payment of around $342 for the Ford Escape and around $378 for the 2004 Audi Avant.

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CarMan@Edmunds · May 2004

Hey spatulaman. Chrysler Financial's current base lease money factor is .00200 for leases of 2004 Dodge Ram Pickup 4WD models. I haven't seen any sort of residual values for the "Rumble Bee" model that you mentioned. CFC's current 3 year 15,000 miles per residual value for a 2004 Dodge Ram Pickup Regular Cab ST is 43%. I believe that its 12,000 miles per year residual value for this term would be 45%.

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CarMan@Edmunds · May 2004

Greetings jets613. I would be more than happy to calculate a sample lease payment on the car that you are interested in for you. However, in order for me to do so, I need you to tell me what its full MSRP and selling prices are. You can look up its MSRP on the following page: Edmunds.com New Vehicle Pricing Page. On that page, you will also be able to look up this model's Edmunds.com True Market Value. This will give you an idea of what sort of price you would pay for one at this time. You also may want to stop by the following discussion to see what others are paying for similar cars right now: cjfairman "Acura TL: Prices Paid & Buying Experience" Aug 7, 2003 7:51am. Once you have this data I would be able to tell you exactly what it should cost to lease this car.

It is difficult to predict what automakers will do with their future incentives and lease programs with any degree of certainty. If I had to make an educated guess, I would say that Acura will not increase its lease support on the 2004 TL at any time in the near future. If this is indeed the case, then this car will actually become more expensive to lease as the model year progresses and its residual values continue to drop.

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CarMan@Edmunds · May 2004

Hi mzinzi. Let's see what we can find out for you. According to the latest information that I have seen, if you were to lease a 2004 Mazda 6s Sedan through Mazda's captive finance company for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00166 and 48%, respectively. I have not seen any information on any of the other terms or mileage allowances that you mentioned in your post. I believe that Mazda is providing $1,500 lease cash on this car as well that will help you to negotiate a more attractive capitalized cost.

Mazda is not providing any special lease money factors on the 2004 RX-8 at this time. As a result, I am not sure what its lease money factor and residual value should be. I can tell you though that Mazda is providing $1,500 dealer cash on this car that will help you to negotiate a lower capitalized cost. In fact, Mazda just increased this dealer cash to $2,500 in its western region.

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CarMan@Edmunds · May 2004

Hello zitromex. One can not exactly refinance a leased vehicle. You can purchase the vehicle that you are leasing from the bank that you are leasing it through, but in order for you to do so you need to call them directly to see how much money it will cost you to do so and if you have to pay any sort of penalty for early lease termination. You may find that it is actually fairly expensive to purchase your leased vehicle well before its scheduled termination date.

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CarMan@Edmunds · May 2004

You're very welcome, nycadguy. I just worked up some numbers for you, and according to my calculations, this car's zero down, pre-tax monthly lease payment should be right around $517. So the payment, including tax, that you came up with looks reasonable to me. Good luck and make sure to come back to let us know how you like your new car.

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CarMan@Edmunds · May 2004

Rxke, manufacturers and dealers advertise leases on vehicles with down payments of thousands of dollars in an effort to tout lower monthly payments, making their deals more attractive. Most consumers just look at the payment when they look at ads. A monthly payment of $399 with a couple grand down that many consumers overlook is more attractive than one of $450 per month. Unfortunately calculating a lease payment without any money down for a vehicle that is advertised with a down payment is not quite as simple as just dividing the down payment by the number of months in the lease, but I suppose that one can get a very general idea of how much a zip down lease on a car or truck would be by doing so. Unfortunately, I do not personally keep tabs on manufacturers' balloon note programs so I can not help you out with your Subaru question. Sorry that I could not be of more help. You can convert an interest rate into an approximate lease money factor by dividing it by 2400. For example an interest rate of 5.0% would be equivalent to a money factor of around .00208.

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CarMan@Edmunds · May 2004

Let's play with some numbers and see what sort of payment we come up with, ralphiewigs. According to my calculations, if you were to lease a 2004 Honda Pilot EX with the rear entertainment system (MSRP: $32,800 / capitalized cost: $31,000) through American Honda Fiance Co. in any state but New York this month for 3 years with 12,000 miles per, your zero down, pre-tax monthly lease payment should be right around $415. At lease signing, you would have to pay this car's first month's payment of $415, a security of that payment rounded up to the nearest $25 increment ($425), and AHFC's acquisition fee of $595 for a total of $1,435.

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CarMan@Edmunds · May 2004

Toyota is leasing the '04 Prius through its captive finance company right now, but I am not sure if it has any sort of special lease money factors on it. If it doesn't and you had to use Toyota Financial Services' current base standard lease money factor of .00225 here is what your payment should be like. If you were to lease a 2004 Toyota Prius with an MSRP of $25,755 and a capitalized cost of $25,755 through TFS this month for 2 years with 15,000 miles per, your zero down, pre-tax monthly payment should be right around a whopping $583. The payment for an otherwise identical 3 year lease would drop to around $445.

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rroyce10 · May 2004

...... ** cost of $25,755 through TFS this month for 2 years with 15,000 miles per, your zero down, pre-tax monthly payment should be right around a whopping $583. The payment for an otherwise identical 3 year lease would drop to around $445 **

Yeeeow.! .. you would have to drive it 88,693.6 miles, keep it 7.7 years just to break even .l.o.l....

Terry

CarMan@Edmunds · May 2004

I have a feeling that the sample lease payments that you got here were a little optimistic, cjs2002. Let's run a sample lease on this car for you and see what sort of payment we come up with. According to my calculations, if you were to lease a 2004 Nissan 350Z Touring Convertible (MSRP: $33,280 / Cap Cost: $31,000) through Nissan Motor Acceptance Corp. this month for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be right around $441. The payment for an otherwise identical 39 month lease would drop to $424.

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CarMan@Edmunds · May 2004

You're right about that one, Terry. I don't think that I am going to lease a Prius any time soon. As you may already be aware, the problem with electric and hybrid vehicles is they have not been around for very long so banks A) don't know how well they will hold up

know how much money consumers will be willing to pay for them as used vehicles in the future and C) assume that they will become obsolete (see the Saturn EV1). As a result, their residual values usually stink and they are fairly expensive to lease.

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CarMan@Edmunds · May 2004

You're welcome, Sal. Thank you for the complement and for taking the time to come back and let us all know how everything turned out. Enjoy your new van!

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katkison · May 2004

Car_Man,

Can you please provide the lease details on the following vehicle?

Z4 2.5 with premium, metallic, convenience, auto, fog lights and heated seats has an MSRP of $41,155. I know there is substantial dealer cash on the Z4 3.0, but what is the dealer cash on the Z4 2.5? Please assume that I am paying invoice, which is $37,720 for this car in calculations.

For the z4 3.0, can you please provide the lease details for the following vehicle?

Z4 3.0 with premium, convenience, metallic paint, auto, xenon, and heated seats with an MSRP of $47,295. Please assume the price paid is $43,310 (invoice).

Please assume a 36 month lease and 12K miles a year for both leases.

Thank you very much for the information.

Kelly

CarMan@Edmunds · May 2004

Hi ssinhas72. If you were to lease a 2004 BMW X3 3.0 through BMW Financial Services this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00190 and 57%, respectively. This vehicle's 12,000 miles per year residual value would be 2% higher.

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CarMan@Edmunds · May 2004

Hello rubinstein7. Here is the information that you are looking for. If you were to lease a 2004 Acura MDX Touring without the rear entertainment or navigation systems through American Honda Finance Corp. this month for 42 months with 15,000 miles per, its base lease money factor and residual value should be .00190 and 53%, respectively in every state except for New York.

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CarMan@Edmunds · May 2004

Hello delahoussaye72. You may be able to get out of your leased Jeep right now even though your lease is not scheduled to end until September, if you agree to purchase or lease another Chrysler, Dodge, or Jeep product. DaimlerChrysler is waiving up to seven lease payments for current Chrysler Financial lessees who get a new vehicle. This offer has nothing to do with the dealer that you leased your vehicle from. In fact, you should be able to turn your leased Jeep into any dealer that sells them. However, if you are not getting another DCX product, you may have to pay money out of your own pocket or have your dealer eat into some of the profit that it would have made on your next deal to get out of your current lease early. If you do opt to turn you leased truck in early remember that you are still liable for any excess wear and tear or excess mileage penalties, unless you or the dealer that you are working with decides to buy your leased vehicle. The exact amount of the excess mileage penalty that you have to pay will depend upon how much money you have to pay per mile over your allowance. This should be spelled out in the lease contract that you signed when you leased your truck. I suspect that you will have to pay $.20 to $.30 per mile for every mile above 60,000 for a 12,000 miles per year lease.

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CarMan@Edmunds · May 2004

Hi Joe. Some banks allow one pay leases, while others do not. Paying for an entire lease in advance does not prevent you from having to pay interest, but most banks do reduce their money factors for pre-paid leases. Lease programs vary tremendously depending upon the exact model that you are considering, so it is impossible for me to generalize about how much it would cost you to lease the vehicle that you described in your post. If you let me know what model or models you are considering, I would be more than happy to give you an idea of what their lease programs are currently like and if their captive finance companies provide any sort of discount for pre-paying leases on them if I am able to find this info out.

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CarMan@Edmunds · May 2004

Hi accord_buyer, er uh I mean audi_buyer. Anonymousposts is correct, Honda is providing $800 dealer cash on '04 Accords right now. This cash may be used to reduce the selling prices of leased vehicles. If you were to lease a 2004 Honda Accord EX V6 Coupe through American Honda Finance Corp. this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00118 and 55%, respectively in every state but New York. You definitely do not want to lease this car for 4 years because Honda is not providing any support on 4 year Accord leases and its money factor for that length lease will be double that of a 3 year lease.

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307web · May 2004

Payments sound super high. Maybe with 12K miles per year instead of 15,000, the payments would drop alot.
The residuals must be really bad.
I think I could probably lease a $30K+ BMW 325i with the same terms for less when BMWFS runs their frequent lease promotions.

kyfdx · May 2004

I think another key to that high lease payment on the Prius, he is assuming a selling price of MSRP. I think almost any lease that is figured at MSRP is going to be outrageous.

regards,
kyfdx

shap1 · May 2004

Hi Car_Man. I'll be in touch in a couple of weeks for some BMW lease figures. In the meantime, I'd like to just confirm a MF rate you quoted on an X3 2.5 for May. Is .00190 the current base rate? I thought it was something like .00220?? That could impact my final decision between the X3 and a 325i.

wibble · May 2004

There's no discounts to be had on the Prius in most markets at the moment. In some areas dealers are asking a $3000 to $5000 premium.

jkmb · May 2004

What is the MF from MB finance for May. 39 month. CLK320. Residual value %?
Should I be shopping lease companies the way you shop for financing rates?

cargirl81 · May 2004

I just visited a Toyota dealership and received some quotes on how much a Toyota 4-Runner lease would be. He said he just did a lease for someone with a sport edition, 4x4, for $433.00 a month. I think that is still really high. I feel I would be better off paying the guy his $200.00 over invoice price and just purchase the car. He said that it would be a 12,000 mile lease, also after paying for the lease dues, tax, license, etc. of $1,500.00. I also don't know what price he goes of to figure my lease, is it the sticker or could I go off the invoice price. Please let me know and any other advice. it would be so helpful. THANKS

doggie · May 2004

Could you tell me the lease cost of a 2004 FX35 with touring package and navigation system.
MSRP $43,050

I am looking for a 2 or 3 year lease with 15,000 miles per year.

rroyce10 · May 2004

........ Oh I understand what your saying, plus there doing stupid money at the auctions .. with 9/10k the 04's are doing "around" the $22ish figure .. has any of those potential buyers taken a pad and pencil to any of the figures .l.o.l.... it's Crazy.!

Terry :}

cjs2002 · May 2004

I hope I didn't confuse you... I wasn't talking about the roadster... or at least I didn't mean to... I'm talking about the hardtop coupe... can't afford the roadsters insurance... thats the lease price I wanted or was looking at...for the touring 5sp auto or 6sp manny... the prices I put up earlier were for the non convertable model... sorry if I confused you

zitromex · May 2004

Hello

I have a 48 months lease with 10000miles each year. Is there any way I could ask to reduce the leasing term and maybe reduce the monthly payments.

CarMan@Edmunds · May 2004

It sounds like a pretty good deal to me. You can always comparison shop with another dealership or two in your area, but if you feel comfortable with the deal then go for it.

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CarMan@Edmunds · May 2004

Hi ca_man. Say are you trying to steam my name

? I would be more than happy to help you out. If you were to lease a 2004 Audi A6 2.7T through Audi Financial Services in California this month for 36 months with 15,000 miles per year, its base lease money factor and residual value should be a very attractive .00005 and 49%, respectively. The numbers for an otherwise identical 39 month lease should be .00005 and 47%. In addition to this low money factor Audi is providing $500 dealer cash on this model that will help you to negotiate an attractive capitalized cost.

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CarMan@Edmunds · May 2004

Let's take a look at the current lease program for the car that you are interested in, neetak1. If you were to lease a 2004 Volkswagen Jetta 2.0L Sedan through VW Credit this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00075 and 48%, respectively. This car's 12,000 miles per year residual value would be 2% higher and its 3 year residual value would be 3% higher. In addition to this low lease money factor, VW is providing $1,000 dealer cash on leases of this model that will help you to negotiate a more attractive capitalized cost.

I personally advise consumers not to make down payments on leased vehicles 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 this car's lease-end purchase price would be exactly the same, regardless of whether you were to put $2,000 down or absolutely nothing down at all.

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CarMan@Edmunds · May 2004

Hello fmiller. Here is the information that you are looking for. If you were to lease a 2004 Acura TL without navigation through American Honda Finance Corp. this month in any state but New York for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00215 and 55%, respectively. Acura is not providing any cash incentives on this model at this time. If you were to lease a 2004 Honda Accord Sedan EX through AHFC this month in any state but NY for 3 years with 15,000 miles per, its base factor and residual should be .00118 and 55%. As you mentioned in your post, Honda is providing $400 dealer cash on '04 Accord Sedans that you can use to negotiate a more attractive capitalized cost. There is no $2,500 incentive on this car, but the dealer cash on Coupes is $800.

Adding the navigation option would lower the residual values for the aforementioned models by around 2%.

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CarMan@Edmunds · May 2004

Good morning Howard. I do not believe that Lexus is providing any sort of lease support on the LS 430 at this time. So if you were to lease one through its captive finance company, Lexus Financial Services, you would have to use its standard lease money factor, which is currently .00205 for any length lease. In order for me to give you an idea of what this car's residual values are like, I need you to tell me exactly how you want it equipped, how long you want to lease it for, and how many miles per year you need to drive it.

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CarMan@Edmunds · May 2004

Hi Kelly. Let's see what we can do for you. BMW has a decent amount of dealer cash on the 2004 Z4 2.5 as well, $3,500. Taking this cash into account, I suspect that you should be able to easily get this car for less than invoice. For now I will use the conservative figure of $1,000 below invoice for this lease payment. According to my calculations, a 3 year, 12,000 miles per BMW FS lease of a 2004 Z4 2.5 with an MSRP of $41,155 and a capitalized cost of $36,720 would have a zero down, pre-tax payment of right around $500. The payment for an otherwise identical lease of an '04 Z4 3.0 with an MSRP of $47,295 and a selling price of $42,310 should be around $577 or so.

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CarMan@Edmunds · May 2004

Hi shap1. I believe that BMW FS' base lease money factor for the 2004 X3 2.5 is .00215 in May. The .00190 factor that you mentioned is only available on the 2004 X3 3.0.

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CarMan@Edmunds · May 2004

Jkmb, leasing is a little different than financing in that consumers usually can not find the best deals that are available on models by shopping with independent banks on their own. Dealers have computer systems that allow them to search the country for the most attractive lease programs on any given model. Plus in today's market manufacturers' captive finance companies usually have the most attractive programs on vehicles. I would be more than happy to give you an idea of what the current lease program is like on this car, but in order for me to do so I need you to tell me if you want the coupe or the convertible and how many miles per year you need to be able to drive it.

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hpowders · May 2004

Good Morning Car Man. The LS 430 has premium package. No other options. I would lease it for 3 years, 36,000 miles. MSRP is $57,599. Please provide me with a residual value.
Thank you.
Howard

beady23 · May 2004

Hi Car_man, Would you please provide info for Leasing an Acura TL w/ and w/o Nav in NY for a 48 month lease?

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