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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Green. Saab is providing a ton of lease support on most of its models right now. Its base lease money factor for a 3 year lease of the 2005 9-2X Linear is .00074. This is equivalent to an interest rate of right around 1.8%. In addition to this low money factor, Saab is providing $2,000 lease cash on this model that will lower its capitalized cost. On the 2004 9-5 Arc sedan, the 3 year base lease money factor is .00040, which is equivalent to an interest rate of slightly less than 1%. In addition to his low money factor, Saab is providing an amazing $6,000 lease cash on this car that will help to lower its capitalized cost.

    So as you can see these low monthly payments are arrived at using a combination of lease cash and low money factors. The problem with most lease calculators is that they do not use manufacturers' actual lease programs to estimate payments, but rather use some standard source of for residual values like ALG and an average interest rate. As a result, general lease calculators often overestimate the lease payments that are available on vehicles by quite a bit.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, lstufleb. A large enough SUV definitely would provide a similar level of utility to the minivans that you are considering. Let me know if you think of any SUVs that you would consider leasing and I will be more than happy to tell you what I think of them and what their current lease programs are like.

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  • mattyomattyo Member Posts: 3
    Yesterday, I had negotiated what I believe to be a good price on an 04 Wrangler, however I became very concerned when i reached the F&I office and some of the numbers began to change. In particular, they were using a money factor of .0035 for a 36 month lease at 15k per year, especially since they said I had A+ creditand qualified for their best rate. Is this money factor typical for a Jeep Wrangler lease? some of the other numbers I had worked out were as follows. Purchase price of 22,200 minus $2250 in rebates for a total of $19,950. They were using a residual value of 55%.
  • totcessptotcessp Member Posts: 6
    Hi Carman, I need to know if there are any special lease programs for the X3 and the Explorer. Money Factor, Residual,etc. MSRP about $38,000 for the X3 2.5 and and about $27,000 for the Explorer. 12K, 24-36 months,no down payment. I don't have an offer yet; but please give me what a conservative payment more or less should be for both vehicles. Thanks again, Thomas.
  • colecole Member Posts: 67
    I was just quoted invoice (37,652) for an '04 FX35 AWD w/ Sport, Touring, Cargo Cover, Splash Guards and sunroof wind deflector. MSRP is $41,240.

    The GM stated that they add 15 bps to the MF to waive the security deposit? Is this true for Infiniti?

    The payments worked out to $549.12/mo. for a 39 month lease @ 15k miles/year. This includes the local tax of 7% and nothing down besides 1st mo., doc fee, acquisition fee, etc. which totaled $1,324.62.
  • friendsfriends Member Posts: 1
    I am looking to lease a Lexus GX 470, and I am not sure how leasing works, and need to know if this is a good deal or not. here's what the dealer quotes me for a 2004 GX 470.

    36 months, 15K Miles per month:

    sticker price: 49,332 (with NAV system)
    invoice: 43,316
    residulal: 28,762 (after 36 mos.)

    1 month's security dep, and $795 bank fees
    lease amount per month $668.00

    They also saidthey would pay my last month's payment on my esisting car, which the lease expired 11/01. This amount they would pay is $509.00

    Is this a good deal??

    I would appreciate your input and advise.

    Thanks!
  • maxim49maxim49 Member Posts: 41
    Car_Man -
    Can you please provide me the money factor and resdiual for a 2004 Honday Accord EX Auto with Leather. The lease term should be 36 months with 12K miles/yr.
    And if you know of any incentives for this car, that would be great!

    I did great with your help in leasing my G35 Coupe, now I'm hoping to do the same with the Accord.

    Thanks again!!
  • kyfdxkyfdx Moderator Posts: 265,514
    Car-man..

    As always, thanks a lot!!

    regards,
    kyfdx

    Edmunds Price Checker
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  • penn1penn1 Member Posts: 2
    Car_man:

    Just wanted to ask a quick question on the C230 Sport lease. The sticker price is 37,000 and some change. I plan to try to get the sticker down closer to 35,000 and put about 5,000 down. So total cap cost is approximately 30,000. The dealer has said that the residual will be 57% on a 42 month lease. Money factor is .00220, which is 5.28% interest. I have an "A" credit rating and think this is too high of a money factor. Do you agree? Is the money factor negotiable? Do you agree with the residual value stated? What about the plan to try and negotiate the price down to 35,000 and put 5,000 down; mistake?? Thanks
  • vikeriivikerii Member Posts: 5
    Hello,

    The Edmunds lease calculator says to multiply the tax rate onto the calculated lease monthly payment. However, when I was at the dealer, they said we are supposed to calculate tax by the capitalization cost of the car. That doesn't sound right, but can anyone tell me what the truth is? I live in Cook County in Illinois if that makes a difference.

    Thanks!
  • JNorthstarJNorthstar Member Posts: 25
    Hi Car_man,

    lease numbers please for an 05 Equinox LT, for 48 months 12,000 miles per year. thanks in advance.
  • richpostrichpost Member Posts: 2
    My 2000 300M comes out of lease in April/05. The bank says a person will be assigned to my account 90 days before the lease ends. How negotiable are banks when you express interest in buying the car? I cannot help they would make more money selling to me than sending the car to auction. The car has 39000 miles, very good condition.
    thanks
    richard
  • kyfdxkyfdx Moderator Posts: 265,514
    Illinois charges sales tax on the entire price of the car.. very disadvantageous to leasing.. It would make me purchase rather than lease, if I lived there....

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  • a2ja2j Member Posts: 7
    Car-Man,

    Can you you tell me the current AHFC residuals and money factors for the 2005 Acura TL without Navigation option? I'm especially interested in a 36 month 15k mile lease.

    Thanks!
  • mister22mister22 Member Posts: 32
    Hey Cole,

    I am working on a similar deal on a FX35 2WD w/ Tech, Touring, Cargo, splash. I have them at invoice too. One dealership said I could have MF=0.00179 with security deposit. The other said I could have MF=0.00194 without. So there is your 0.15 difference. I guess it's true.
  • mister22mister22 Member Posts: 32
    Hey penn1,

    From reading this forum and taking Car_man's advice, I would advise you to put NOTHING down (ie no cap cost reduction), except first month's payment and whatever acquisition fee there may be. Regardless of your cap cost reduction, the residual value will not change. Put your money in a money market account and draw on it once a month to help with the monthly payments. This also protects you from losing your down payment if your car is stolen or totaled. Insurance companies will only pay for what the car is worth at that time. Good luck.
  • arcainearcaine Member Posts: 3
    Hi Car_man,

    I'm looking to lease an '05 S4 Avant and was quoted the following:

    36 Months @ 12k /yr
    MSRP of $53,520.00
    Invoice of $49,974.25

    MF = .00190
    Residual of 55% @ $29,436

    Do you have any hints on getting a better deal?

    Thanks,
    Arc.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mattyo. The lease money factor that you were quoted is definitely way too high, even for a vehicle like the Wrangler that does not have any lease support on it. If you were to lease a 2004 Jeep Wrangler through Chrysler Financial this month for 3 years, its base lease money factor should be .00255.

    Car_man
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  • cherasdadcherasdad Member Posts: 1
    Hi Car_man,

    Lease numbers please for an 05 AUDI A4, for 36 and 48 months, 12,000 miles per year. Prem Pckg added, with add $950 in options. Thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings Thomas. Both of the trucks that you are interested in have lease support available on them right now. If you were to lease a 2004 BMW X3 2.5 through BMW Financial Services right now for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00070 and 59%, respectively.

    Ford Credit's lease program is a little different than BMW Financial Services' program in that it publishes what is known as lease rates rather than lease money factors for vehicles. Lease rates can be converted into approximate money factor equivalents by dividing them by 2400. If you were to lease a 2004 Ford Explorer XLS 4WD through Ford Credit this month for 3 years with 12,000 miles per, its base lease rate and residual value should be 3% and 42%, respectively. When negotiating a lease on this model, keep in mind that Ford is providing $4,500 lease cash plus an additional $1,000 cash for models that are financed or leased through Ford Credit for a total of $5,500 that will help you to negotiate a more attractive capitalized cost.

    If would be more than happy to calculate approximate lease payments on these models for you, but in order for me to do so, I need you to provide me with their selling prices. You should be able to get a good idea of what sort of price to expect by looking up their Edmunds.com True Market Values in the New Vehicle Pricing section of this site. You also may want to stop by the following discussions that appear here in the Town Hall: "Ford Explorer/Mercury Mountaineer: Prices Paid & Buying Experience" and "BMW X3: Prices Paid & Buying Experience".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey cole. Infiniti Financial Services will waive its lease security deposit requirement in exchange for a slight increase in a vehicle's base lease money factor. For most banks that have this sort of program, the required increase is indeed .00010 to .00015. You can either use the higher factor to calculate your vehicle's payment or pay a security deposit that is equivalent to that payment rounded up to the nearest $50 increment when you take delivery.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello friends. If you are not familiar with how leasing works, you definitely should read the following article prior to doing any more negotiating: 10 Steps to Leasing a New Car. It is very informative and will help keep you from being taken advantage of by dealers.

    While you provided quite a bit of information on the deal that you have been offered, you never mentioned this vehicle's selling price. The selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without this number, it is difficult to tell what sort of discount you are receiving and to estimate what your lease payment should be like. To give you a reference point to work with, I will work up a sample lease payment on this vehicle for you, assuming a selling price of $1,000 over dealer invoice. According to my calculations, if you were to lease a 2004 Lexus GX 470 with navigation (MSRP: $49,332 / selling price: $43,316 invoice + $1,000 = $44,316) through Lexus Financial Services right now for 3 years with 15,000 miles per, your zero down, pre-tax monthly lease payment should be right around $662. With this deal, you would be required to pay your vehicle's first month's payment, a security deposit of that payment rounded up to the nearest $50 increment, and Lexus Financial Services' base lease acquisition fee which is $600 in most states at lease signing.

    As you can see, the payment that I cam up with is very similar to the one that you were quoted. As a result, I think that this is a pretty good deal. You still should find out this truck's selling price through, just to see what sort of discount you are being given.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey maxim49. How are you enjoying your G35 Coupe? I personally love that car. When Honda introduced its special lease program on the 2005 model year Accord, it did away with the lease support that it was providing on the 2004 model. As a result, if you were to lease one through American Honda Finance Corp. right now, you would have to use its standard lease program, which still isn't too bad. The good news is that Honda is providing $1,000 dealer cash on '04 Accords that will help you to negotiate a more attractive capitalized cost. AHFC's current 3 year, 12,000 miles per base lease money factor and residual value for an '04 Accord EX are .00265 and 53%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, kyfdx.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi penn1. 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 this C-Class would be exactly the same, regardless of whether you had put $5,000 down, or had made absolutely no down payment at all.

    The good news is that the lease money factor that you were quoted by the dealer that you are currently working with, is Mercedes-Benz Credit Corp.'s exact base money factor for a lease of a 2005 C230 Sport Sedan right now. While certain dealers do try to mark-up banks' money factors to add additional back-end profit to deals, they do not have the authority to provide consumers with a lower factor than the base factor that is being offered by the bank that the vehicle is being leased through is providing. There is no marking-up going on here, so this is as low as this car's factor gets, even with your outstanding credit. While it doesn't look great, it is still over 2% less than MBCC's standard lease money factor.

    The bottom line is that this money factor is good and you should not make any sort of capitalized cost reduction.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi vikerii. Different states use different methods for calculating sales tax on leased vehicles. There are three main methods of calculating tax on leased vehicles (I suppose that you could say that there are four if you count the states that don't charge sales tax at all). In the first, the state taxes the payment and down payment. Most states, including Florida, Georgia, Missouri, Connecticut, and California use this method. The second way is to tax the entire selling price of the vehicle. This is how sales tax is calculated on leases in states like Illinois, Texas, and now Ohio. Lastly, some states only tax the depreciation portion of leases. This is tax is calculated on leased vehicles in New Jersey.

    If you let me know what state you are in, I would be more than happy to try to give you an idea of how sales tax should be calculated in your area, or at least provide you with links to a site or two that might have the answer to your question.

    Car_man
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  • maxim49maxim49 Member Posts: 41
    Thanks a lot Car_Man. I'm absolutely loving my G35 Coupe - it's amazing. My family thinks I'm crazy because I wash it at least once a week..oh well.
    Thanks for the numbers. Would you happen to know what the special lease program is for the 2005 Accord?

    Thanks again!
  • grngardngrngardn Member Posts: 5
    Hello! Ok I've spent most of the evening and morning trying to figure this all out and feel like banging my head against the wall :)! I negotiated a lease deal but not sure if it is good or not since I can't even comprehend how to figure of what the risdual value is. Here is the specifics: MSRP $38,270 Lease 36 Month 12,000 miles per year $1,700 out of pocket for tax title and first month security then $513 a month. I am in the Chicagoland area. Would someone be so kind as to help me before I quite possibly make a mistake. Thanks in advance.
  • mattyomattyo Member Posts: 3
    Thanks Car_Man,

    I didn't think that it sounded right. I find it amazing that dealers are allowed to mark up these rates. How do you go about negotiating a money factor? I can't seem to find much information on how to negotiate this point.
  • aegaeg Member Posts: 23
    What is the conventional wisdom about leasing.
    I put approximately 17,000 miles a year on my car.
    I am interested in either buying a Volvo XC90,
    S80 or a the new Audi 6.(Have had Volvo foryears but not overwhelmed by them at themoment) It has always been my impression that the kind of mileage I put on a car it is better to buy yet I hate to have to put all the money in one place.I do not like to be restricted
    by mileage. Would it be prudent to lease and if I exceed the mileage to then buy the car at the end of the lease.Thanks for you input
  • totcessptotcessp Member Posts: 6
    Hi Carman I got an offer for $35,000 on a MSRP of $36,500 for an X3 2.5. What is a fair monthly payment for 10k 36 months, 12k 36 months. Thanks again, Thomas.
  • vikeriivikerii Member Posts: 5
    Thanks for the reply kyfdx. I guess I shouldn't be surprised. They tax EVERYTHING here...twice when they can.
  • vikeriivikerii Member Posts: 5
    Hi Car_man,

    Thanks for the reply. I live in Illinois, so I guess I fall under the second way. It's frustrating...that adds $30 onto each monthly payment over the other ways. And unless I buy the car at the end of the lease (why lease then?) that is wasted money. I can easily see why the state does it, but how do they justify it?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi JNorthstar. Here is the information that you are looking for. If you were to lease a 2005 Chevrolet Equinox 2WD through General Motors Acceptance Corp. in its Western region right now for 4 years with 12,000 miles per, its base lease rate and residual value should be 6% and 49%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello Richard. Some banks are willing to negotiate the lease-end purchase prices of vehicles, while others will never do so. In order to find out if the bank that you are leasing your car through, most likely Chrysler Financial, is willing to work with you, give them a call. Do not involve the dealer that you took delivery of your vehicle at because it does not have any authority to work with you. If your initial contact at your bank is not willing to work with you, you may get better results by working your way up the ladder a little bit. There certainly is no guarantee that your bank will lower your vehicle's purchase price, but you don't have anything to lose by asking. For more informaiton on purchasing leased vehicles, check out the great article that is available here at Edmunds.com: Buying Your Leased Car.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings a2j. I am sorry to say that I have not seen any residual values for the 2005 Acura TL yet. I can tell you though that Acura is not providing any sort of lease support on it. As a result, if you were to lease one through American Honda Finance Corp., you would have to use its standard lease money factors. Its base factor for a 36 month lease is currently .00260. Acura is scheduled to publish a new lease program for October in a few days anyhow. I would be more than happy to give you an idea of what this car's new October program is like if you post a quick reminder in this discussion for me a few days into the month. Talk to you then.

    Car_man
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  • penn1penn1 Member Posts: 2
    Thanks. I geuss the only room to negotiate is on the initial purchase price. Thanks again for the advice.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Let's take a look at the current lease program for the car that you are interested in, Arc. If you were to lease a 2005 Audi S4 sedan through Audi Financial Services this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00175 and 56%, respectively. I suspect that you were quoted a higher money factor because you are probably having AFS' lease security deposit requirement waived. It will waive this charge in exchange for a .00015 increase in the money factor that is used to calculate a vehicle's payment. If you do not want to use the higher money factor, then you would have to pay a security deposit that is equivalent to your car's monthly payment, rounded up to the nearest $25 increment. You would be able to get this deposit back when you turn in your vehicle, assuming that you do not have to pay a penalty for excess mileage or excess wear and tear. AFS will also waive its required lease acquisitoin fee, which is $575 in every state but New York, in exchange for a money factor increase of .00050.

    The two main profit centers for dealers on leases are the money factor and the vehicle's selling price. As I mentioned above, the money factor that you were quoted looks good to me. In your post, you mentioned this car's full MSRP and dealer invoice price, but made no mention of its selling price. Make sure to negotiate as good a price as possible.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cherasdad. Audi has a number of different versions of the 2005 A4. In order for me to give you an idea of what the lease program is like on this car, I need to know exactly which one your are interested in leasing, i.e. a 2005 A4 1.8T sedan with quattro, a 2005 A4 3.0L Avant, etc... Once you provide me with this information, along with a reminder of how long you want to lease for and how many miles per year you need to be able to drive I will be able to help you out.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I don't blame you for washing your car so often, maxim49. Nice cars always look better when they're clean. I wash my cars relatively frequently and wish that I had the time to do so more often. Brake dust especially drives me nuts :).

    In answer to your question about the 2005 version of this car, if you were to lease a 2005 Honda Accord EX through AHFC this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00226 and 58%, respectively.

    Car_man
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  • xc90fan1xc90fan1 Member Posts: 1
    Hi carman...

    The Volvo dealer I spoke with today told me that XC90 MF's are going up in October and lease deals will be more expensive. is this true? How much can they increase by if they do?

    Thanks!
  • sukinsynsukinsyn Member Posts: 23
    Hello Carman,

    Would you please provide numbers on a 2004 Pontiac GTO? The MSRP is $33,190, they are offering it for $31,378, minus $3500 incentive making the price approximately $27878.

    I am in Ohio. The car would be a manual transmission. I am interested in 36 months, 12 or 15,000 miles.

    Also, might it be better to wait for a 2005, due to higher residuals?

    Thanks for your help!
  • grngardngrngardn Member Posts: 5
    Hello! Ok I've spent most of the evening and morning trying to figure this all out and feel like banging my head against the wall :)! I negotiated a lease deal but not sure if it is good or not since I can't even comprehend how to figure of what the risdual value is. Here is the specifics: MSRP $38,270 Lease 36 Month 12,000 miles per year $1,700 out of pocket for tax title and first month security then $513 a month. I am in the Chicagoland area. Would someone be so kind as to help me before I quite possibly make a mistake. Thanks in advance.
  • kyfdxkyfdx Moderator Posts: 265,514
    Ideally, we'd need to know the selling price of the car to figure the lease.. plus, I'm not sure what your tax rate is in Illinois, just that you pay on the whole selling price.. But, here is some info making basic assumptions..

    1)selling price $2000 under MSRP
    2)8% tax on selling price..rolled into cap cost.
    3)$1700 up front includes 1st pymt, sec.deposit, acquisition fee.

    MSRP $38,270
    Cap cost $36270 + $2900 sales tax = $39170
    MF = .0007
    Residual = 59%

    Payment = $506/mo.

    So, as you can see.. only $7/mo. off what you were quoted..

    Caveats:
    1) I'm estimating your sales tax.. I may be wrong.
    2) I'm estimating the sale price of the car, but $2K off is reasonable.

    You might be able to get them down to $500/mo.. But, make sure sales tax is included.. If it isn't, then this is a very bad deal ($2900 bad).

    regards,
    kyfdx
    (not the expert)

    Edmunds Price Checker
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  • dstaydstay Member Posts: 1
    Hi,

    I want to lease an 05 Highlander. I'm curious about the program that Toyota has where you can pay the entire lease amount upfront, thus avoiding finance charges. Is this a good idea?

    Also, do you know the residual factor for this car for a three year lease?

    Finally, do you have a ballpark estimate for the money factor through Toyota financial in Los Angeles?

    Thanks in advance.

    Dennis
  • a2ja2j Member Posts: 7
    Car-man,

    Thanks for the information. Does acura change its residuals and money factors every month? I ask because a dealer already gave me offered me a lease rate on a 2005 model, but doesn't expect to have the cars in stock for another two weeks. Just wondering what he used to compute the lease if the figures will change next month anyway.
  • edmunds_noobedmunds_noob Member Posts: 8
    I'm looking at a deal for a 2004 Saab Aero

    The car MSRP is 37k, Invoice is 34,697. Edmunds TMV is $35k.

    The lease deal that I've found is

    $320/month
    $5859.50 due (2999cc + tax, doc, lic, 1st payment)
    12k miles/year

    Of course I don't like the initial payment, but when I run this through edmunds calculator I get a WAY higher monthly payment...

    Am i missing something? I wasn't very interested in a Saab until I started looking at their 2004 lease specials.
  • lwhitewolflwhitewolf Member Posts: 1
    Car-man,

    I've read about all the great lease options for the Saab and was wondering if you could work one up for me. 2004 9-3 Arc MSRP 35,180/TMV 31,180/36 Month lease/0 down/CA resident/15000 miles per year. Test drove it this weekend and going back to the dealer later this week.

    Thanks,
    Lance
  • a2ja2j Member Posts: 7
    Car-man,

    I just posted about the money factor on the Acura TL a few messages back. I have one more question. Exactly what does "base lease money factor" mean? Does this mean the money factor is not negotiable? I was under the impression that AHFC sets the residual, but the money factor was negotiable? Forgive me if this elementary question has already been discussed, but I'm new to this forum (and to leasing in general).
  • arcainearcaine Member Posts: 3
    Hey Car_man,

    Thanks for the Money Factor info! The negotiated price for the S4 is $50,178.13 fully loaded except heated seats. I should be headed to the dealership today to sign paperwork. I'll probably try to get the lower money factor and whatever else I can get!

    Thanks again!
    Arc.
    :)
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