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Lease Questions - Ask Here

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  • leeshuckleeshuck Member Posts: 73
    Hi Car_man,

    What lease program is available from Volvo for the S60 R? I would be interested in a 36-42 month lease for 15k miles/yr. I am getting selling price from dealers now.

    I noticed that some incentives and rebates for the S60 R ended on November 30th - do you think it is likely they will have something new for the end of the year?

    Thanks,

    Lee
  • baseballmom97baseballmom97 Member Posts: 101
    Hi Car_Man,

    You were immensely helpful to me 3 years ago on a lease deal. Now I'm back in the game and looking for the money factors and residual values of both an '04 and '05 Sequoia. The dealer is receiving $2000 cash back on the '04. How does this affect our lease deal? Thank you so much!!
  • jeffschujeffschu Member Posts: 48
    Hello Car_Man,

    Could you please provide me with the lease information on a 2005 Chrysler 300M? I am looking for 24/36 months and 12/15k miles. The area that I will be leasing in is the Greater Cincinnati area. Thank you in advance for your help.

    Jeff
  • theclutchtheclutch Member Posts: 21
    Hi all,
      Im not sure if this is the right place to post my question, if not i apologize for the ignorance. My question is as stated in the title, can anybody show me how to negotiate a lease, and the exacted calculation behind it ? thx in advance!
    Howard
  • chubby4chubby4 Member Posts: 11
    Any idea what the lease numbers (MF and residual) are for a '05 Mercedes C230 sport sedan? How much is a reasonable payment if I get the car for 32,500 for a 36 month 15,000 mile lease. Thanks.
  • galant00galant00 Member Posts: 12
    i am sorry carman i forgot to metion that those cars are 2004... thanks
  • theclutchtheclutch Member Posts: 21
    my friend is looking to lease Mercedes C230 also, can anyone advise us ? thx !
  • ajkl7476ajkl7476 Member Posts: 2
    My lease on a '02 Infiniti G20 w/ about 35k miles is about to end. Recently, I was in an accident (side air bag deployed and some body damage) however the car runs fine. I went to an autobody shop and they estimated the repairs to cost about $1500 not including airbag. I've been getting different info as to what I should do w/ the car now that it is in this state:(1) Repair and turn it in (2) Turn it in the way it is (3) Buy it. I'm not sure which is the best choice w/ the least amout of financial loss.

    The residual is $11,880 + $150 purchase fee + $900 tax. They (Chase/Subaru) has preapproved me for 5.9% on a 60 month term. Based on TMValues the residual price is not much higher, but it is a discontinued model. Is it possible for me to negotiate a lower price if I decide to buy?

    I'd really appreciate any advice or help~!
  • gold233790gold233790 Member Posts: 183
    Carman-

    Thanks for the info. An Audi dealer actually mentioned this morning that the residual for a 36 month lease, 15k miles was 58% for the new '05 A6. Did Audi further enhance this number when the calendar changed? Thanks.
  • pjo1966pjo1966 Member Posts: 159
    Car_man...

    I got more info from my Lease Company. To recap:

    2005 BMW 325i
    Steel Blue Metallic
    Premium (w/ black leather)
    Automatic
    Folding Rear Seats
    Navigation
    MSRP: $37,770

    36mo/36,000 miles
    Driveoff: $1403.70
    Monthly: $487.67 (inc. tax)

    And the new info:

    Cap Cost: $36,610
    Residual: $23,417.40 (62%)
    MF: .00140
  • theclutchtheclutch Member Posts: 21
    my friend is looking to lease Mercedes C230 also, can anyone advise us ? thx !
  • wasabi911wasabi911 Member Posts: 53
    Good to hear you had a good Thanksgiving.

    Thanks again for your help. I'll keep you posted on the purchase.
  • mellismellis Member Posts: 150
    Thanks Car_man, you've been a big help as always!

    Mark
  • vanpetevanpete Member Posts: 1
    I currently have a 2002 Honda Civic Lx with 59,000 miles on my car.I leased the vehicle for 36 months at 320 a month including taxes. My lease ends april 1, 2005. I will be over my allowed amount of miles which is 36,000 miles at 15 cents per mile penalty. Currently Honda has a Pilot for lease at 279 plus tax with 3000 down. how much is a reasonable monthly payment increase from $279 because I want to put 0 down and I am over in my miles plus I have fours months left in my lease. One dealer offerd 7000 for my car at kelly blue book fair value. My residual or payoff is 10,600.

    $320@36months
    four months left
    10,600 payoff or residual
    7000 offer from dealer(-3000)
    miles allowed 36,000 (additional 15 cents)
    $279@42months 3000 down Pilot Offer lease
  • alex123alex123 Member Posts: 36
    Car_man, did BMW FS came out with new numbers for December or everything is still same as November?

    530I 36m/10k
  • ponytrekkerponytrekker Member Posts: 314
    How is this possible? The car is 15k new!
  • denverg35denverg35 Member Posts: 54
    I am in Denver, Colorado. I pick up my S4 on Friday, and yes, I am pretty excited as well.

    Using Edmunds and Kelly BB, I was looking at MSRP- $500 for a 2005 s4 sedan-----however, I was able to get $1700 off sticker, and $1000 more on my trade than 5 other dealers {go figure]

    Never have driven a car that performs at the S4 level, just hoping I don't get too many tickets :)
  • denverg35denverg35 Member Posts: 54
    Thanks for all your help Car-man. I hope you understand just how much you, and other kind folks, are helping the users of this discusion. I found it very difficult to get dealers to give me a price, unless I could point to a internet equivalent...

    Bought my 2005 S4 yesterday, and saved a ton of bucks due to this forum.

    Thanks again, and hope you have a great Xmas!
  • canngacannga Member Posts: 20
    At the risk of wasting bandwidth, :-), thanks so much!
    Regards,
    Can
  • apothnyapothny Member Posts: 9
    Return date is in mid january...residual is
    $15,727. Dealer couldn't find a 2004 Arc in Merlot red... Kinda giving up on getting into an '04 or '05 9-3 arc at this point.

    My '02 9-3 just hit 17000 miles in just under 36 months...I am considering financing thru saab Financial and getting it "Certified" to get the additional warranty. Any similar experiences or advice??
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello galant00. You never mentioned if the cars that you are considering are 2005 or 2004 models. Either way, the prices that you were quoted look pretty good to me. If you are interested in an '04 G35 Sedan it looks as though you are getting it for a little over invoice after taking the $1,000 dealer cash that is available on it into account. If this is an '05 model this price may even be below invoice. For more feedback on the price of this car, you may want to stop by the following discussion: "Infiniti G35: Prices Paid & Buying Experience". I would be more than happy to try to work up a sample lease payment on this car for you, however in order for me to do so, I need to know how long you want to lease it for and how many miles per year you need to be able to drive it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Toyotajim. Most of the direct mail pieces that dealers send out trying to get consumers to end their leases early are not worth the paper they are printed on. The only way you can get out of your current lease prior to its scheduled end date is if you are leasing it through a captive finance company, its manufacturer decides to run an official early lease termination program, and you purchase another product from the same company. Trying to get out of your lease early without the assistance of an early lease termination program, which are few and far between, will either be fairly expensive or hurt your ability to get a good deal on your next vehicle.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings Lee. Volvo just introduced its new lease program for the month of December yesterday and I have not had an opportunity to take a look at it yet. I will look around and see what I can find out about it for you. Please post a quick reminder in this discussion for me in a couple of days and I will be more than happy to fill you in on what I have been able to find out. Talk to you soon.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Wow, you're making me feel old, baseballmom97 :). Toyota's incentives vary depending upon which one of its 12 regions you are in. In order for me to give you an accurate picture of what the lease program is like, I need you to tell me what state you live in. Once I have this additional information, I will try to give you an idea of what this truck's current lease program is like.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello Jeff. DaimlerChrysler just revised its lease program for most models yesterday. I have not had an opportunity to take a close look at its new program yet, but should be able to within the next day or two. Please post a quick reminder in this discussion for me in a few days and I will be happy to fill you in on what I have been able to find out about this car's new December lease program. Talk to you then.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You've definitely come to the right place, Howard. Edmunds.com has a number of helpful articles about leasing that you definitely should check out prior to visiting any dealers. Here links to the two that you should read first: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. Once you have read them, stop back and I will be more than happy to answer any specific questions that you have about leasing.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi chubby4. Rumor has it that Mercedes-Benz will introduce its new December lease program sometime today. It may take me a day or two before I have an opportunity to take a close look at it. Please post a quick reminder in this discussion for me in a couple of days and I will be more than happy to try to answer any questions that you have about it. Talk to you then.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ajkl7476. I am sorry to hear about your accident. I hope that everyone is OK. There are so many nice used vehicles out there that regardless of how well the repairs were done, consumers will usually shy away from purchasing ones that have been in an accident. As a result, vehicles that have been in a crash are worth less than otherwise identical ones that have not. This phenomenon is known as diminished value. The one thing that you DEFINITELY do not want to do is purchase this car at the end of your lease. One of the beautiful things about leasing is that if your leased car or truck is in an accident as long as it has been repaired properly you can just turn it in at the end of your lease and let the bank that you were leasing it through deal with any sort of diminished value that resulted from it having been in an accident. If I was in your situation, I would file a claim with my insurance company or if the repairs that are needed are not too expensive pay for them out of my own pocket and leave insurance out of it and then turn this car in at the end of your lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, gold233790. I am not sure why the person that you spoke with at this dealer told you that the 3 year 15,000 miles per residual value for an '05 A6 3.2 leased through AFS is 58%, because I am almost positive that it is currently 55% and that Audi did not change its lease program for this car for the month of December. The only way that this car's residual value would be 58% for this term is if you were to lease it with only 10,000 miles per year.

    Car_man
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  • galant00galant00 Member Posts: 12
    the 2004 g35 34,670 and selling for 31,270 plus tax and title. lease 12k miles a year for 36 months. they want 42 i dont want that.

    the 2004 rx8 the msrp 30,270 and selling for 26,600. 12k miles a year for 36 motnhs they want 48 months. its not going to happen.

     i only want 36 moths even if i have pay a little more.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, pjo1966. It is difficult to say without seeing the actual dealer invoice price for the exact model that you want, but it appears to me as though the selling price that you were quoted is around $1,300 or so over invoice. I am not intimately familiar with what the market is like for the '05 BMW 325i right now, but if you are in an area where there is a decent amount of competition for your business, you may be able to beat this price. You should stop by the "BMW 3-Series: Prices Paid & Buying Experience" discussion that appears here on Edmunds.com to see what other community members have recently paid for similar cars.

    As far as the lease money factor that you were quoted goes, BMW FS' base money factor for the '05 325i is currently .00125. There are three possible explanations as to why the factor that you were quoted is higher. BMW FS will waive its lease security deposit requirement in exchange for a slight increase in a vehicle's money factor. I believe that this increase is around .00010. It will also waive its lease acquisition fee requirement in exchange for an increase of I believe .00015. If you are not having either of these fees waived then the dealer that you are working with may be marking-up this car's money factor to add additional back-end profit to your deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi theclutch. Rumor has it that Mercedes-Benz will introduce its new December lease program sometime today. It may take me a day or two before I have an opportunity to take a close look at it. Please post a quick reminder in this discussion for me in a couple of days and I will be more than happy to try to answer any questions that you have about it. When you post your reminder, please include how long you want to lease this car for and how many miles per year you need to be able to drive it. Talk to you then.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks wasabi911 and you're welcome. Talk to you soon.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I am glad that I was able to help you out, Mark. Take care.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello vanpete. I am sorry to say that it is probably going to be fairly expensive for you to get out of your current lease. There are two ways that you can do so, you can either make your remaining payments on your truck and pay an excess mileage penalty or you can try to purchase your leased vehicle from the bank that you are leasing it through and trade it in on your next vehicle or sell it on your own. Both of these methods are probably going to cost you quite a bit of money.

    You are smart to want to not make any sort of down payment when leasing your next vehicle. I have seen the advertised Honda Pilot lease that you referred to in your post. I believe that this lease offers a 2005 Honda Pilot EX at $279 per month for 42 months with $1,999 down. If you were eliminate the capitalized cost reduction on this specific lease, it would increase the monthly payment to around $330.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey alex123. BMW's November lease program on 2005 models was scheduled to run through January 3rd without any changes. As a result, I suspect that this car's money factors and residual values are currently the same as they were last month. Having said this automakers do make unscheduled changes to their incentives programs from time to time, so I'll ask around just to make sure that nothing has changed. It probably hasn't, but please feel free to check back with me in a few days and I will let you know for certain.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, denverg35. I am glad that you have found this discussion so helpful. Congratulations on your sweet new car!

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, Can. Thank yous never waste bandwidth ;).

    Car_man
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  • baseballmom97baseballmom97 Member Posts: 101
    Hi again, Car_Man,

    I'm in Ohio. Just to recap: I'm looking for money factor and residual on an '04 and '05 Sequoia. The dealer says there is $2000 dealer cash incentive on the '04. Would you suggest that I offer invoice price and then figure the deal from there? After all, they are making $2000 just by us driving off the lot. Or do I need to offer $100 over invoice? Thank you so much!!
  • chubby4chubby4 Member Posts: 11
    Someone earlier said they were quoted with 58% and a MF of .0026 for an '05 Acura TSX. Is that right? The MF seems a little high, I haven't seen a dealer yet but I was trying to get a good idea of what to be looking for when I get there. Looking at a 36 mo. 15,000 mile lease. Thanks.
  • sandylsandyl Member Posts: 42
    carman,

    what are the new numbers for the base and touring FWD pacifica?

    Also, what about the nissan altima S. have the
    december numbers changed from nov?

    thanks once I again. I know I have to make up my mind at some point!

    sandy
  • jim53jim53 Member Posts: 118
    Car Man, do you know if Lexus Financial sweetened their lease deals for their December to remember promotion. I am interested in 36 or 39 months at 12K per year (10K if available).
  • squirreljamsquirreljam Member Posts: 71
    Car_Man - just checking in - a coworker is interested in a new vehicle and I was sharing some lease knowledge.

    After searching some old posts here, it appears that Hyundai's captive lease program is essentially defunct, and even when they do publish numbers, Santa Fe residuals hover in the mid 30% range. As to MF, I took a quote he got from a lease co. and converted, ending up with around .00210.

    Based on that, I advised this buddy not to lease a Santa Fe but rather purchase and if possible, a late model used one. Or take advantage of any good finance deals from the factory - Are there any you know of? Location is St Louis MO.

    Just wanted to check my thinking - any obvious errors, or has anything changed with Hyundai? Philosophically it seems their residuals are lagging their reputation (cust. sat. going up but residuals not), as perhaps Honda/Toyota residuals are higher than expected - you agree?

    -Squirrel
  • 4thbmw4thbmw Member Posts: 5
    Car_Man:

    Is this an OK set-up for a 2005 BMW 545? Please let me know!

    MSRP is $64,740
    Sale price is $63,240
    M3 trade in $40,000
    M3 payoff $44,200
    No security deposit.
    No money down.
    First lease payment due at signing.
    15,000mi/yr, 36mo.
    MF .00190
    Res: 58%
    about $1,100/month

    I know the money factor from BMWFS is .00150. I was worried that I would not qualify for the lease due to credit, so when they said .00190, I felt that was OK.
  • warpackwarpack Member Posts: 5
    Hi Carman,
    I still working on getting a 2005 A4 1.8t quattro. Can you provide me with updated Dec lease numbers? I looking at 36 or 39 months with 12K a year. Also, what upfront fees does Audi Financial services charge?

    Thanks
    John
  • artd1artd1 Member Posts: 9
    I am interested in a lease or purchase of a new Nav Ultimate. I was wondering what the lease #'s would be as I have been quoted invoice from central NJ dealers. My neg. is a $3,000 upside down trade in and interest rate. Someone told me a lease would be mid$800's. Welcome back and thanks.
  • gold233790gold233790 Member Posts: 183
    Car man-

    Thanks for the A6 info. Before jumping, I just wanted to see if Infiniti changed their residual or MF #'s for the '05 G35x. Looking at MSRP of $39,310, with a cap cost 1k+ below that, maybe more.

    Anyway, 36 month, 15k miles. Last time I checked it was 57%, .00215. Still the same?
  • lwhitelwhite Member Posts: 18
    Alex,

    I was quoted today(12/2/2004) by my dealer around the NYC area .000145 and 63% on 5's 36/10k. He quoted .000171 and 63% on November 29th.
  • lwhitelwhite Member Posts: 18
    Car_Man:

    Thanks for the previous numbers and info regarding '05 BMW's

    I would like to get additional info to compare BMW lease values in the NYC area with other models I'm considering- namely the '05 Volvo XC90 AWD 2.5T & T6 and the Touareg V6 & V8. All with 10K/ year. I'm open as to the length of term.

    So I may set future goals and just for fun, what are the lease numbers on the ultimate off-road BMW- '05 Range Rover.

    Again, thanks for your valuable(and free) service.
  • andre1andre1 Member Posts: 85
    Car_Man,
       I've narrowed my purchase down to two vehicles. I need the 36, 42 and 48 month (15K miles a year) lease numbers (residual, money factor) for the following for December. Thanks again for this great service you provide!

    2005 Chrysler Pacifica Touring FWD
    2005 Acura MDX Touring w/Entertainment Center
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