Right, Joel, $4,500 total. No, the $1,500 customer cash that Mazda is providing on this car can not be used in conjunction with these other offers. You should be able to use the recent college grad cash in conjunction with these other programs though.
Dealer invoice minus the current incentives that are available on this car certainly is an attractive selling price. The one thing that I would change about this deal is the $2,500 down payment. I always advise consumers against putting money down when leasing. Check out a few of my recent posts for my reasons. You also should find out what lease money factor and residual value are being used to calculate this payment. The dealer that you are working with might not want to tell you what they are but you are entitled to know them. You can convert the money factor into an interest rate equivalent by multiplying it by 2400. This will give you an idea of how decent this lease program is.
No problem, cdb. General Motors introduced a $1,000 bonus for 2005 GMC Yukon models that are financed or leased through GMAC in its Northeast region as part of its Red Tag Sales Event. I believe that this is the region that Pennsylvania is in. If so then make sure to take this cash into account when negotiating this truck's capitalized cost.
Hello, I hope you can give me some advice. I apologize in advance for this long winded story and I appreciate your time in reading it.
I recently (October) moved to California and have absolutely no US credit history. This has made many things difficult like renting an apartment, or more to this forums point, leasing a car. I am a US/Canadian citizen who's lived in Canada almost my entire life, thus my vacant credit history here.
I spent much of last Saturday at a Mazda dealership driving and negotiating the lease of a '05 Mazda6s Hatchback. I provided numerous references, US bank deposits and a letter from my employer to help compensate for my lack of credit history. All seemed to go well, at the end of the day we reached an agreement on price and I was to go ahead with the signing of the lease. Some problems occurred with the car details, the sales manager had left, and since I wanted some additions made to the car before we drove off I didn't mind coming back in a day or two.
Fast forward two days (Monday), I'm ready to go sign and pick up my car. I'm told all is going to plan, it should be ready by mid afternoon. I take time off of work, pick up the wife and baby drive down go to state farm close to dealer to get insurance, as we're discussing how many current miles the car has on it I call the dealer.. There I'm passed to the manager who informs me that there's a problem, that the Ford finance department has flagged my lease and that they need to run more checks on my Canadian credit history. So I've lost half a day of work, and I'm still renting a car. This is after I drove all the way to the dealership which with traffic is about a 50 minute drive.
Wednesday. Apparently there's a 0-5 tier system in place, and with no US credit history I fell into a tier 4 which = bad. Many reassuring and apologetic "it's not us it's them" phone conversations later, I was asked to provide another five references, copies of my payroll deposit statement and utility bills.
Fast forward today (Thursday). As I'm preparing to send them all the extra info they've asked me for, I get a call from them saying "good news, you've got the car!" I'm hardly excited at this point and I'm expecting a but... The "but" comes... and then they explain although my credit is good in Canada, it's not good enough because I'm a first time buyer, and because I've never bought a home. But my credit cards and bank credit is great. So I didn't fall into a tier 0-1 category, but instead into a 3. The Sales manager managed to squeeze Ford a little lower but my money factor, which was at 0.00161 almost doubled to 0.00306. So in order for me to keep my payments at $350 I needed to put another $1600 down.
I was so frustrated at this point, that I told them I can't accept the offer any more. Does this sound fishy to you? It feels to me like I'm being taken for a ride that I don't like much, but I don't have the experience to know for sure.
The fact is that I make decent money from my job which I'm employed full time, and my credit history in Canada and the UK which I've lived are both very good. I've only ever owned one Visa and One Mastercard. I personally don't see why I can't qualify for a lower tier/money factor.
I'll post what my deal was, which I thought was good but not great (before the change in price which I've not accepted)
Car: 2005 Mazda6s Hatchback
Details: Loaded, V6, Lux pkg (leather etc), bose and moonroof pkg, chrome rims, 6 speed AT, compass w/autodim mirror and homelink, wheel locks, dark tinted windows, cargo tray (have baby!), door guards
MSRP: $29300
Cap cost: $27630
Rebate: $1500
Drive off (incl all fees and down payment): $2450
Gross cap cost: $ 24937
Money factor: 0.00161
Lease Term: 42 months
Miles: 12000/year
Monthly payment (incl tax): $350
Was I right to walk away? Do you think the above deal would have been a good one had it worked out? Was the dealer taking me for a ride? Your opinions are much appreciated.
A 51 month lease, markp2? I've never seen a 51 month Volvo lease. The longest supported lease that I believe that I have seen through Volvo Finance is 48 months.
Car-Man. I have searched and looked back on the forum and no sign of the MB offer. Does it's absence mean it or the car is a dog? This is my first serious look at a lease, here goes. Any advice would be appreciated.
2005 MB E320 Sunroof and cd changer. Very basic.
MSRP 51190
Cap Cost 48192
Res. 31225
Cap Red. 2625
Pymt 529 p\mo. before tax
Acq. Fee 795
10k mi p\yr (seems low, but not a problem)
This info is off the MB website. Do you have the MF and RV for this car? Also, do you think there any wiggle room from the dealer on the cap cost? Thanks, Tony
Ok, damn this is a gruesome task. So knowing this, what terms would I need to do inorder to get the full $4500 rebate (ig. term of lease)?
Could you also please provide me with approximate figures I should try and get for a great deal for the following:
1) Money factor range
2) Residual percengtage (is this percentage taken on MSRP or Sell price?)
Any other figures you can give me that I should know for the 2004 RX-8s.
Sorry, if I am being bothersome, I just like to make sure I've done enough research before I go put my hard earned money into a car and get the best deal I can get.
I'm interested in comparing the cost between these two vehicles from two perspectives. The Acura has a 4 yr/50k warranty versus 3 yr/36k for the Accord, so this is the warranty matchup. The second view is to look at which lease term has the best numbers from AHFC for both cars during December. I would appreciate the MF & RV numbers from the above viewpoints for cars without Navigation systems based upon 12k miles yearly.
Stridor, I'm not a leasing expert, so I can't comment on the terms of your lease; however, I have been in the same situation. Mr. kirstie_h came to the US from the UK, and had the same difficulties as your credit history doesn't exist. It's as if you dropped down from the planet Zortran. There's no instant way to correct this, but the good news is that once you've purchased a vehicle, you're quickly back in the land of the creditworthy.
About the only way to overcome the high interest rate associated with no credit history is with a large cash downpayment. Additionally, some manufacturers' financial divisions are more willing to work with you. At the time, we found that Volvo was the most accommodating.
MODERATOR /ADMINISTRATOR Find me at kirstie_h@edmunds.com - or send a private message by clicking on my name. 2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h) Review your vehicle
I may have no way around this as I need a car in LA (it's weird to HAVE to have one to get around here). Other places I've lived you could get by quite fine without one. I do have one option other than a large down payment that has come up. I have an Aunt in Law living in California, if she was to co-sign (she has good credit) would that bring me into good leasing rates?
I wonder if someone could comment on the leasing deal as well, and tell me if it seems like a good deal or not.
It doesn't seem to be that bad of a deal... It looks like you got a pretty good monthly payment at the Tier 1 rate... So, chalk up the extra $1600 as the price to build your credit.. Once you complete that lease, you should have golden credit with Ford..
what kyfdx said - you've got a reasonable monthly payment. You could ask about having your aunt co-sign, but it's not likely to go down by a lot.
The other option is always to buy a decent used vehicle for awhile, make the payments, then go to a lease. But if you can make the stated deal work, it's a good way to get a quality vehicle AND build your credit at the same time.
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My sister was about to act on a lease for the TL when she saw different money factors being reported on this site and a difference between two dealers. You gave us the TL money factor for 36 and 39 month leases as .00235....but we've seen it at .00220 on here and she heard something slightly different from a dealer. I don't think it matters, but we're in NJ.
Volvo is advertising a $229/mo 10k/yr lease on S40's ($259/mo on V50) but they want $2495 cap cost reduction, which is silly IMHO.
Can I get the MF & residual at 36 mos on an S40/V50 please? I'd like to know how much payments would increase with little to no cap cost reduction up front, just security deposit, 1st payment and any fees.
Also would like residual value and MF for Saab 9-2X Linear & 9-3 Linear. Saab is advertising $189/mo with $2500 down on a 9-2X Linear, and again, I wish to put minimal cash down.
My VW lease ends shortly and I'm a bit tempted to lease another VW since they'll waive my security deposit and turn-in fee if I do so.
the dealers is saying $3500 down 429 month for 39 months and 22,752 buyout for a 05 pathfinder LE fullyloaded Nav TV DVD what do you think of this? Thanks
Thanks for your help Car_man. I have taken your advice and I am getting a check for the value in my car, via Carmax, if you can believe it they gave me the highest value on my Boxster and I have negotiated with your information to 3315.00 off of MSRP and a .00125 MF with a residual of 58%. The dealer is telling me that they can only do the .00125 with a security deposit = to one months payment rounded to the nearest 50.00, does this sound correct to you? Also they are doing 625 acquisition fee, 100 over BMW's cost, and Doc & Tags fees of 460.00. How does this deal sound to you?
I ordered a BMW 530 with a very good lease rate. I was told they will hold the rate for 60 days. The only problem is that the car will likely not be delivered until after the 60 days expire. When I asked the manager what happens then, he said we start all over!
DOes anyone have experience with this situation? I do not want to wait for something that is not a sure deal.
into a new car. I have a 2003 Vw Passat Wagon with about 21 months left on the lease. We just had a baby and have a 3 year old plus a dog, could use more room. Thinking of a larger SUV.
Would appreciate it if you could answer the following questions regarding single pay lease:
1. Is this the correct calculation ?
(cap cost-rv/term)+(mf*JUST the rv) * Term
i.e. the money factor is NOT applied to the cap cost, as with the normal lease calculation.
Of course, TTL and upfront fees would be additive.
2. Other than the upfront cash requirement and time value of money, would this approach leave me with the same disadvantage as exists when any down payment is made (i.e. if totaled or stolen, insurance only pays off remaining amount owed) ?
Can I chime in here? I have a deal in NJ on a BMW 545 at $3920 off of MSRP, money factor of .00140, 60 % residual. How did you get them down to a money factor so low? They insist I have the lowest there is at .00140? Thanks!
I am supposed to pick up this car monday so could use your expertise fast!
The deal is a 2005 545 for $3920 off MSRP, $4990 inception (including $2594 downpayment, First mo, Security, MVC for 3 years, Bank fees), 12k miles/yr, money factor .00140 - they insist this is the lowest available money factor (I have top tier credit rating). They are giving me 27k for my trade of a 2002 BMW 530 that I paid 45K for (they need to replace bumper and windshield on trade)
How do I get them to give me the .00125 money factor you mentioned and what do you think about the deal?
All I had to do was tell them that I found out on the internet that BMW has a special rate for the 5 series cars for December of .00125. They do require a security deposit of your monthly payment rounded to the nearest 50.00. I tried to get this rate at another dealer and they gave me the runaround when I asked for it as well.
You're welcome, westtx. For the 3 year, 15,000 miles per year sample lease payment of the 2005 Toyota Camry that I worked up for you, I used a lease money factor and residual value of .00055 and 54%, respectively.
No problem, halebop. Definitely do not visit any dealers when trying to purchase your vehicle at the end of your lease. They have absolutely nothing to do with its purchase price. That number is between you and the bank that you are leasing it through. In fact, not only does the dealer not have the ability to get you a better deal, they often try to pad consumers' lease-end purchases to try to make some money off of the transaction.
Most banks will offer consumers who purchase their leased vehicles the option to finance their purchase through them. Some banks even have very attractive finance rates. You may want to look around to get an idea of what sort of rate you would be able to finance your vehicle at and then see what sort of rate the bank that you are purchasing it from quotes you.
You're welcome, frommx5tomz3. I am glad that you find this discussion so informative. If you were to lease a 2005 Lexus ES 330 without navigation through Lexus Financial Services right now for 36 with 12,000 miles per year, its base lease money factor and residual value should be .00165 and 59%, respectively. This car's money factor is actually a little lower than this in certain areas. If you let me know what state you are in, I would be more than happy to let you know if you are in an area that has additional support. Since you included pricing information in your post, I will work up a sample lease payment for you. According to my calculations, using the above lease program, an MSRP of $33,795, and a selling price of $30,000, this car's zero down, pre-tax monthly payment should be right around $362, which is pretty attractive.
Hi erectsteel. While you are right that vehicles' residual values are important, their selling prices actually very important as well. There is a great article here at Edmunds.com that explains how to calculate lease payments. You definitely should check it our prior to negotiating with any dealers: Calculate Your Own Lease Payment. You also may want to check out the following informative article: 10 Steps to Leasing a New Car.
You should not pay extra when you send in your vehicle's lease payment because unlike conventional loans, paying extra does not reduce your vehicle's lease-end purchase price. In fact, to take things a step further, you really should not even make any sort of down payment when leasing because it will not reduce your vehicle's lease-end purchase price either.
I would be more than happy calculate a sample lease payment on this truck for you so that you have an idea of how much you should pay for it. However, in order for me to do so, I need you to provide me with its approximate selling price. You should be able to get a good idea as to how much you should pay by visiting the following discussion: "Nissan Murano: Prices Paid & Buying Experience".
I am glad that I was able to help you out. I think that your Bonds prediction is right on the money, though if pitchers are less afraid of him it may give him an opportunity to get more hits and drive in more runs instead of getting walked every single at bat. It sure will be interesting. I've considered getting XM satellite radio to listen to all of the MLB games next year. I really enjoy listening to a good game on the radio. I just wish my new (relatively) car had come equipped with it, grrrrr.
Leasing a new 3-Series for $300 over invoice, including the use of the base money factor is an excellent deal. Congratulations on your new car and thanks for taking the time to come back and let us all know how everything turned out.
Hello stridor. Unfortunately, I am not surprised that some banks are not willing to lease you a new vehicle using their lowest lease money factors because of your lack of credit history in this country. I have heard similar stories from numerous new citizens and residents. Perhaps you should consider financing your next new vehicle instead of leasing it. By financing, you could shop around with independent banks on your own to see what sort of interest rate you can get. Then once you have been approved to finance the vehicle that you are considering, you can see if the dealer that you are working with is able to beat the rate that you have been quoted.
Thanks for the additional information, darknight1. I now can give you an idea of what this vehicle's lease program is like. If you were to lease a 2005 Cadillac SRX V6 through General Motors Acceptance Corp. right now for 3 years with 15,000 miles per, its base lease rate and residual value should be 3.95% and 52%, respectively. The lease rate for an '05 SRX V8 would be the same, but the residual value would be 53%.
Hi leaserook. I wouldn't look too much into the fact that this car hasn't been mentioned in this forum recently. I think that the Mercedes-Benz E-Class is a very nice vehicle. If you were to lease a 2005 Mercedes-Benz E320 Sedan without 4Matic through Mercedes-Benz Credit right now for 39 months with 10,000 miles per year, its base lease money factor and residual value should be .00235 and 61%, respectively. The selling prices of leased vehicles are negotiable and most manufacturers' advertised lease payments usually leave a little meat on the bone so to speak. The fact that there is $2,000 dealer cash on this model right now may indeed help you to negotiate a more attractive selling price than the one that this advertised payment is based upon.
You're not being bothersome at all, Joel. I am always more than happy to help community members out. It is difficult to say what sort of lease money factor you will be able to lease this car with. I would think that an unsupported lease through an independent bank would probably have a money factor that is equivalent to an interest rate of 5% to 6% or so. This would put the range of lease money factors around .00208 to .00250, but anything under .00300 is probably fine. The lower this car's lease money factor is, the lower your lease payment will be.
This car's exact residual value will vary depending upon how long you lease it for and how many miles per year you are allowed to drive it. I would expect this car to have a 3 year, 15,000 miles per residual value of slightly lower than 50% for a 2004 RX-8. The higher this car's residual value is, the lower your lease payment will be.
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Car_man
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Dealer invoice minus the current incentives that are available on this car certainly is an attractive selling price. The one thing that I would change about this deal is the $2,500 down payment. I always advise consumers against putting money down when leasing. Check out a few of my recent posts for my reasons. You also should find out what lease money factor and residual value are being used to calculate this payment. The dealer that you are working with might not want to tell you what they are but you are entitled to know them. You can convert the money factor into an interest rate equivalent by multiplying it by 2400. This will give you an idea of how decent this lease program is.
Car_man
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I recently (October) moved to California and have absolutely no US credit history. This has made many things difficult like renting an apartment, or more to this forums point, leasing a car. I am a US/Canadian citizen who's lived in Canada almost my entire life, thus my vacant credit history here.
I spent much of last Saturday at a Mazda dealership driving and negotiating the lease of a '05 Mazda6s Hatchback. I provided numerous references, US bank deposits and a letter from my employer to help compensate for my lack of credit history. All seemed to go well, at the end of the day we reached an agreement on price and I was to go ahead with the signing of the lease. Some problems occurred with the car details, the sales manager had left, and since I wanted some additions made to the car before we drove off I didn't mind coming back in a day or two.
Fast forward two days (Monday), I'm ready to go sign and pick up my car. I'm told all is going to plan, it should be ready by mid afternoon. I take time off of work, pick up the wife and baby drive down go to state farm close to dealer to get insurance, as we're discussing how many current miles the car has on it I call the dealer.. There I'm passed to the manager who informs me that there's a problem, that the Ford finance department has flagged my lease and that they need to run more checks on my Canadian credit history. So I've lost half a day of work, and I'm still renting a car. This is after I drove all the way to the dealership which with traffic is about a 50 minute drive.
Wednesday. Apparently there's a 0-5 tier system in place, and with no US credit history I fell into a tier 4 which = bad. Many reassuring and apologetic "it's not us it's them" phone conversations later, I was asked to provide another five references, copies of my payroll deposit statement and utility bills.
Fast forward today (Thursday). As I'm preparing to send them all the extra info they've asked me for, I get a call from them saying "good news, you've got the car!" I'm hardly excited at this point and I'm expecting a but... The "but" comes... and then they explain although my credit is good in Canada, it's not good enough because I'm a first time buyer, and because I've never bought a home. But my credit cards and bank credit is great. So I didn't fall into a tier 0-1 category, but instead into a 3. The Sales manager managed to squeeze Ford a little lower but my money factor, which was at 0.00161 almost doubled to 0.00306. So in order for me to keep my payments at $350 I needed to put another $1600 down.
I was so frustrated at this point, that I told them I can't accept the offer any more. Does this sound fishy to you? It feels to me like I'm being taken for a ride that I don't like much, but I don't have the experience to know for sure.
The fact is that I make decent money from my job which I'm employed full time, and my credit history in Canada and the UK which I've lived are both very good. I've only ever owned one Visa and One Mastercard. I personally don't see why I can't qualify for a lower tier/money factor.
I'll post what my deal was, which I thought was good but not great (before the change in price which I've not accepted)
Car: 2005 Mazda6s Hatchback
Details: Loaded, V6, Lux pkg (leather etc), bose and moonroof pkg, chrome rims, 6 speed AT, compass w/autodim mirror and homelink, wheel locks, dark tinted windows, cargo tray (have baby!), door guards
MSRP: $29300
Cap cost: $27630
Rebate: $1500
Drive off (incl all fees and down payment): $2450
Gross cap cost: $ 24937
Money factor: 0.00161
Lease Term: 42 months
Miles: 12000/year
Monthly payment (incl tax): $350
Was I right to walk away? Do you think the above deal would have been a good one had it worked out? Was the dealer taking me for a ride? Your opinions are much appreciated.
Car_man
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2005 MB E320 Sunroof and cd changer. Very basic.
MSRP 51190
Cap Cost 48192
Res. 31225
Cap Red. 2625
Pymt 529 p\mo. before tax
Acq. Fee 795
10k mi p\yr (seems low, but not a problem)
This info is off the MB website. Do you have the MF and RV for this car? Also, do you think there any wiggle room from the dealer on the cap cost? Thanks, Tony
Could you also please provide me with approximate figures I should try and get for a great deal for the following:
1) Money factor range
2) Residual percengtage (is this percentage taken on MSRP or Sell price?)
Any other figures you can give me that I should know for the 2004 RX-8s.
Sorry, if I am being bothersome, I just like to make sure I've done enough research before I go put my hard earned money into a car and get the best deal I can get.
Sincerely,
Joel
It does seems to be the reoccurring thought in here.
Have you tried the lease calculator they have on Edmund's? that thing gives me even higher numbers than the dealer is quoting!
I'm interested in comparing the cost between these two vehicles from two perspectives. The Acura has a 4 yr/50k warranty versus 3 yr/36k for the Accord, so this is the warranty matchup. The second view is to look at which lease term has the best numbers from AHFC for both cars during December. I would appreciate the MF & RV numbers from the above viewpoints for cars without Navigation systems based upon 12k miles yearly.
Thanks!
wing5nut
Can you provide me the money factor and residual for a 36 month lease on a 2004 Infiniti QX56?
Thanks for you help.
Question for you, what should the residual value percentage be on the XC 90 for a 3 year lease?
Mark
I'm being offered the following on a fairly loaded Volvo S40 T5.
MSRP: 32,058
39 mos. @ $378.03/month (including taxes)
11,077 annual miles
Money factor = .00188
No security deposit
Upfront bank fee of $795
This is the best deal I've been able to track down. How does it strike you? The lease is through USBank, not Volvo.
About the only way to overcome the high interest rate associated with no credit history is with a large cash downpayment. Additionally, some manufacturers' financial divisions are more willing to work with you. At the time, we found that Volvo was the most accommodating.
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I may have no way around this as I need a car in LA (it's weird to HAVE to have one to get around here). Other places I've lived you could get by quite fine without one. I do have one option other than a large down payment that has come up. I have an Aunt in Law living in California, if she was to co-sign (she has good credit) would that bring me into good leasing rates?
I wonder if someone could comment on the leasing deal as well, and tell me if it seems like a good deal or not.
Many thanks.
regards,
kyfdx
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The other option is always to buy a decent used vehicle for awhile, make the payments, then go to a lease. But if you can make the stated deal work, it's a good way to get a quality vehicle AND build your credit at the same time.
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I am being offered the following through Lexus Finance in So. Cal. Could you please check the lease numbers? Thanks!
RX330 2wd w/nav
MSRP $42,608
Sales Price $37,446
$600 bank fee
36 month/ 12k miles
-0- sec. dep
.00135 money factor
56% residual
477.62 + tax mo. pymt
My sister was about to act on a lease for the TL when she saw different money factors being reported on this site and a difference between two dealers. You gave us the TL money factor for 36 and 39 month leases as .00235....but we've seen it at .00220 on here and she heard something slightly different from a dealer. I don't think it matters, but we're in NJ.
Any ideas? Thanks.
Volvo is advertising a $229/mo 10k/yr lease on S40's ($259/mo on V50) but they want $2495 cap cost reduction, which is silly IMHO.
Can I get the MF & residual at 36 mos on an S40/V50 please? I'd like to know how much payments would increase with little to no cap cost reduction up front, just security deposit, 1st payment and any fees.
Also would like residual value and MF for Saab 9-2X Linear & 9-3 Linear. Saab is advertising $189/mo with $2500 down on a 9-2X Linear, and again, I wish to put minimal cash down.
My VW lease ends shortly and I'm a bit tempted to lease another VW since they'll waive my security deposit and turn-in fee if I do so.
$2495/36 = $69.30 X 1.05 = $72.77/mo. increase.
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I ordered a BMW 530 with a very good lease rate. I was told they will hold the rate for 60 days. The only problem is that the car will likely not be delivered until after the 60 days expire. When I asked the manager what happens then, he said we start all over!
DOes anyone have experience with this situation? I do not want to wait for something that is not a sure deal.
Thanks.
Is the 3 1/2 year residual .62 ?
Lets assume a potential deal.
Pilot EX-L Invoice is $29,400
Cap Cost is Invoice Plus $400 or $29,800
The $400 is $300 over plus $100 doc fee.
Residual is .62 or $18,500
lease term is 42 month (3.5 years), 12,000 miles allowed
Monthly Depriciation is (29800-18500)/42 = $269/mo
assume Honda is offering 1.9%
Interest is (29800+18500)*1.9/2400= 38/month
then with zero down payment would be 269+38 = 307/mo
end of lease buyout would be residual of 18,500.
Would this be a deal ? Is this sound logic ?
Do I need to include a loan acquistion fee in the capital cost?
I assume ther would be a security deposit tah i would get back at the end on the lease
Is it possible without paying a big price?
Thanks.
Thanks in advance for your help! I live on Long Island, NY and just got the following lease deal quoted over the phone from South Shore Honda:
*2005 Honda Accord Sedan EX
*Cloth interior
*No $ down
*$335 per month for 36 mo.
*Based on claimed invoice price of $21,259
Is this a decent deal?
Would appreciate it if you could answer the following questions regarding single pay lease:
1. Is this the correct calculation ?
(cap cost-rv/term)+(mf*JUST the rv) * Term
i.e. the money factor is NOT applied to the cap cost, as with the normal lease calculation.
Of course, TTL and upfront fees would be additive.
2. Other than the upfront cash requirement and time value of money, would this approach leave me with the same disadvantage as exists when any down payment is made (i.e. if totaled or stolen, insurance only pays off remaining amount owed) ?
I am supposed to pick up this car monday so could use your expertise fast!
The deal is a 2005 545 for $3920 off MSRP, $4990 inception (including $2594 downpayment, First mo, Security, MVC for 3 years, Bank fees), 12k miles/yr, money factor .00140 - they insist this is the lowest available money factor (I have top tier credit rating). They are giving me 27k for my trade of a 2002 BMW 530 that I paid 45K for (they need to replace bumper and windshield on trade)
How do I get them to give me the .00125 money factor you mentioned and what do you think about the deal?
Thanks!
Could you please tell me the residual and money factor for an 05 LX350 FWD w/NAV?
15k miles
36 month
Also, do you know how much Lexus charges per mile if you exceed the 15k a yr?
Thanks!
Thanks
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Most banks will offer consumers who purchase their leased vehicles the option to finance their purchase through them. Some banks even have very attractive finance rates. You may want to look around to get an idea of what sort of rate you would be able to finance your vehicle at and then see what sort of rate the bank that you are purchasing it from quotes you.
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You should not pay extra when you send in your vehicle's lease payment because unlike conventional loans, paying extra does not reduce your vehicle's lease-end purchase price. In fact, to take things a step further, you really should not even make any sort of down payment when leasing because it will not reduce your vehicle's lease-end purchase price either.
I would be more than happy calculate a sample lease payment on this truck for you so that you have an idea of how much you should pay for it. However, in order for me to do so, I need you to provide me with its approximate selling price. You should be able to get a good idea as to how much you should pay by visiting the following discussion: "Nissan Murano: Prices Paid & Buying Experience".
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Leasing a new 3-Series for $300 over invoice, including the use of the base money factor is an excellent deal. Congratulations on your new car and thanks for taking the time to come back and let us all know how everything turned out.
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This car's exact residual value will vary depending upon how long you lease it for and how many miles per year you are allowed to drive it. I would expect this car to have a 3 year, 15,000 miles per residual value of slightly lower than 50% for a 2004 RX-8. The higher this car's residual value is, the lower your lease payment will be.
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