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Lease Questions - Ask Here

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  • krodrenkrodren Member Posts: 31
    My wife as financial officer cosigned a transferred car lease to provide a car for a company employee (don't ask!). Car was totalled shortly before lease end (other driver's fault) and insurance payout was less than lease payoff (no gap ins.). When she tried to negotiate the payoff with the lease co. (since the car had been taken off their hands by the insur. co.), they agreed to a lesser payoff but said it would show up as a credit deficiency on her credit report--even tho they were accepting the lesser amt. Maybe she should have gone further up the chain to get a more reasonable answer, but she just paid off the original owed amt. to preserve her rating.

    Anyone ever experienced this?
  • yazyaz Member Posts: 4
    I am planing on leasing a new '05 Lexus LS430 through my business shortly and will cover the payments on a pre-tax basis. Most of my miles will be business related but I travel nearly 30K miles per year. Any advice on a 3 or 4 year lease with the lowest possible residual value? I plan on buying the vehicle with my personal money at lease-end. Even if I dont like the vehicle, my pre-tax savings should cover a good portion of the depreciation if I turn around and sell it.
  • littletroutlittletrout Member Posts: 1
    I've just had a lease draft sent to me for a Subaru Forester XS. It includes $300.00 Disp Fee and $523.81 Init Pymnt. I'm assuming that this is the disposition fee and initial payment. Is the disposition fee not supposed to be paid at the end of the lease if the vehicle is returned? If this is my first monthly payment (included because I wanted to pay 0 down), shouldn't it be the same as the others?
  • leonine99leonine99 Member Posts: 4
    Hi...can anyone shed some light on the offer that is listed on Edmunds.com that indicates a lease offer from Honda Finance for a Acura RSX Type S for $229/month. None of the dealers are aware of this offer, and there is no such offer on either the Acura or AHFC sites.....anyone?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello hpowders. Here is the information that you are looking for. If you were to lease a 2005 Acura MDX Touring without navigation or the rear entertainment system through American Honda Finance Corp. right now for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00210 and 62%, respectively.

     

    If you are not completely sold on leasing, you may want to consider taking advantage of the new special financing program that was introduced on all Acura models last week - 2.9% for up to 5 years.

     

    Car_man

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, vicc. Ahhh, the Detroit Auto Show. That's a good one, you're making me jealous :).

     

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  • shaker58shaker58 Member Posts: 130
    looking into both these vehicles 30 or 36 month leases. thanks for your help
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi leonine99. For someone who has never leased before, you definitely seem to know what you are talking about. You are absolutely correct, you should try to negotiate as low a selling price as possible on the vehicle that you are interested in leasing. Doing so is no different than negotiating an attractive price on a car or truck that you were going to finance or pay cash for. Do some research here at Edmunds.com to figure out what a reasonable price is for the car that you want. You should be able to get a good idea as to what sort of price to pay by visiting the following discussion: "Acura RSX: Prices Paid & Buying Experience". Once you know around how much you want to pay, comparison shop with a couple of dealers in your area and go with the one that offers you the best deal, provided that you feel comfortable with them. If you let me know how long you are interested in leasing this car for and how many miles per year you need to be able to drive it, I can tell you what its current lease program is like. You then can take these numbers, along with this car's MSRP and selling price, and use the formula that is outlined in the following article to see how much your lease payment should be: Calculate Your Own Lease Payment.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, ackerman. The lease money factor and residual value that you were quoted are right around what I expected them to be for a lease of this car through Mazda's captive finance company. You never mentioned this car's exact selling price though, other than to say that you have estimated it. This is a number that you need to know so make sure the dealer that you are working with tells you exactly how much money you are paying for this car. The only cash incentives that I am aware of on the '05 RX-8 are $1,000 Dealer Cash for leases and another $1,000 customer lease cash for 24 to 30 month leases through Mazda's captive finance company, so if this lease is indeed based upon a selling price of $1,000 under invoice, then you are getting a very good deal and I do not see any reason not to pull the trigger if you like this car.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    That is a very interesting question, yaz. Usually consumers want to know which vehicles have the highest residual values so that they can get a low lease payment, but I definitely see where you are coming from. I have heard that even though banks will not allow consumers to negotiate higher residual values for vehicles that some will actually allow the lowering of residual values, but I have never personally seen this being done nor do I know which banks allow this. If you are looking for a vehicle with low residual values, you are definitely barking up the wrong tree with Lexus. Toyotas, including its luxury arm Lexus, generally speaking have very high residual values. If you are not completely sold on getting a Lexus LS 430, I should be able to steer you towards models that have lower residual values.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes, littletrout, lease disposition fees are billed at lease-end when you return your leased vehicle.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi leonine99. I have not seen any advertised leases on the RSX Type-S from Acura recently either. I am not involved in the maintenance of the incentives section of this site, but if you want to ask them about this specific offer that they have listed, you should be bale to contact them by clicking on the following link: Edmunds.com - Contact Us.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Shaker58, how many miles per year do you need to be able to drive them, 10,000, 12,000, or 15,000?

     

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  • hpowdershpowders Member Posts: 4,331
    Thanks a lot Car_Man. I am completely sold on leasing-love driving a new vehicle every 3 years and I don't drive more than 12,000 miles a year. For me it's perfect, just like your advice!
  • googlezgooglez Member Posts: 4
    A 2005 Mercedes E-320 W/ tiptronic.

    its peuter in color.

    has full leather package,

    premium sound package

    navigation

     

    Sticker on it was 59120.

     

    The lease came out to

    5,000 down

    450.86 a month (thats with TAX INCLUDED)

    39 Month lease, 12,000/year..

     

    Was wondering if this is pretty good? or was i too hastey in accepting it?
  • atfryaratfryar Member Posts: 30
    Hi Car_Man, I hope I'm in the right forum for this questions... Could you post the money factors and residuals for the following vehicles (all assuming 10K miles/year - 36 months)? Thanks!

     

    2005 Infiniti FX35 AWD

    2005 Volvo XC90 AWD

    2005 Volkswagen Toureg V6

    2005 Saab 9-3 Convertible (arc and/or aero)

     

    ...And if you have the 2004 info, that'd be helpful too as it looks like there're a few dealerships in my area still looking to unload 04's. I guess that raises another question though. Is there an advantage to buying/leasing an 04 at the very end of the year?

     

    Thanks again.
  • bigguy44bigguy44 Member Posts: 4
    Hello all.

     

    Total Lease newbie here. Have owner several cars, some bought new, some bought used, but never leased before.

     

    Assuming I am sure that I can keep a car under 15,000 miles per year, would anyone advise against leasing a 2005 Nissan Pathfinder for 39mo/15K? I heard that the 39 mo. deal is much better than the 36 mo. deal.

     

    Basically, I really like the 2005 Pathfinder, but don't want to have to make payments of 500-600 a month if I buy new. I'm also not 100% convinced that the Nissan will be reliable after 80k miles (I'm a Honda/Toyota person usually).

     

    What is the best way to approach such a lease? Given the choice, I'd prefer to deal with car salesperson as little as possible. I'm not someone who gets taken advantage of usually and as a result most conversations with car salesfolk always get hostile before anything gets done. Wish I could just say "yes, I want that offer, period", sign paperwork, and go.

     

    I thought I heard an offer on the radio for a 05 pathfinder 39 mo. lease for $329 a month. and something like 2500 down. Not sure where it ends, what the catches may be, etc.

     

    Before I contact a dealership or anything would love to hear some insight as to how to approach this.

     

    Thanks in advance.

     

    BigGuy44
  • bigguy44bigguy44 Member Posts: 4
    Hmm ...

     

    Looks like that lease is only for 12,000 miles per year, which is a hair under my average of about 13k per.

     

    Too bad too, sounded like a good deal. a 15k lease for same terms is probably 400 a month, or more.
  • clonesclones Member Posts: 1
    Car_man,

     

    I live in Michigan. Saw 2005 Toyota Highlander Model 6910 lease advertised for $259 per month over 36 months with $1599 due at lease signing, lease-end purchase option of $15,511. Any idea what the lease money factor and residual value percentage were used to calculate it.
  • big_sbbig_sb Member Posts: 4
    After seeing the Pathfinder ads on tv and internet, we decided to test drive one and liked it. We've had quite an education on lease advertising. Please correct me if any of this is wrong:

    -in order to get an advertised price, the vehicle must be the same MSRP with the exact options. If the MSRP is less than the advertised price, that doesn't mean your monthly payment will go down...in fact a $500 less vehicle increased the monthly payment by $22 /mo.

    -dealerships are not in the business of losing money. 2 sales people told us that if any dealer sold a vehicle for the advertised price, they would lose money (lol)

    -we were told by one salesperson that Nissan puts those deals out without the intention of honoring it :O. We may need to bring him in as a witness during the class action lawsuit (ignorent salesperson).

    -funny i just saw the ad on tv again

    -dealer called, they will do the so-called loser deal now.

     

    All this in the last 2 hours. Now we'll see what kind of fun and games we will experience tomorrow. Thanks for your help on this forum.

     

    2005 SE Pathfinder 4x2 w/ comfort & premium pkg for $309 /month.
  • mjfergusonmjferguson Member Posts: 1
    I am looking into leasing an Acura TSX with a one time (all money up front) lease payment. How much can I expect to pay for a 36, 48 or 60 month lease? Just a ballpark figure is fine. The price of the car is 27,250.
  • gwl4001gwl4001 Member Posts: 1
    Hi, I'm thinking about leasing a new Grand Prix GT. My Dad is a GM employee in Michigan. I would like to know if there are different prices from different dealers or if the cars should cost the same regardless of dealer. When I got quotes from dealers they were never the same, even for the same car. I supposed this would be because some said $0 down or tax included. I would also like to know how much more it should cost to add things like leather interior and premium sound. Do they change the residual value or do you just pay the residual value for the whole car? I also have seen the non GT car advertised for $160/month for 24 months but that sounds too low. Is this real or not? The car I will probably lease would be a GT MSRP 26,265 GMS 23,379.30. I have been told a 2 year lease would be less per month than a 3 year. I also think I should get 15,000 miles instead of 12,000. How much should this car cost? Thanks for any help you can give me.
  • ackermanackerman Member Posts: 16
    Thanks again Car_Man:

     

    Dealer said he would charge $29,882.50 cash sale based on sticker price of $32,899 and including Spare Tire Kit at N/C that has MSRP of $395 and dealer cost $320.

     

    As I am planning on the 36 month lease according to my calculations the dealer will be paid $28,582.61 on the 36 month lease. The dealer invoice cost of $29,326.50 plus cost to install the Spare Tire Kit lets say $320, puts the dealer $1,063.89 under cost. As per your email the dealer is getting $1,000 per lease but this still puts them $63.89 under their cost.

     

    Are you sure the other $1,000 you mention below is only for 24 to 30 month leases and not 24 to 36 month leases?

     

    You wrote, "The only cash incentives that I am aware of on the '05 RX-8 are $1,000 Dealer Cash for leases and another $1,000 customer lease cash for 24 to 30 month leases through Mazda's captive finance company".

     

    Also, when I asked the dealer for a 30 month lease they quoted $525 per month + tax based with money factor of .00325 (7.8% APR) and 60% residual ($19,739.40). According to my calculations the dealer would receive $30,612.81 from this 30 month lease. The dealer never mentioned the $1,000 customer lease cash on the 30 month lease. Do they have to disclose the $1,000 customer lease cash or can they keep it for themselves?

     

    Please advise as soon as you can because I'm supposed to sign the 36 month lease and take delivery tomorrow.

     

    I pasted the numbers from my original email below:

    --------------------------------------------------

    According to my financial calculator the Dealer receives $28,582.61 from the lease for this car.

      

    Also, my calculations reflect that this is $1,100 below their invoice price even after factoring in their 2% Holdback on the Base MSRP.

    --------------------------------------------------

    MSRP with Options $32,899

    36 Month Residual 52% ($17,107.48)

    36 Month Money Factor .00295 (7.08% APR)

    36 Month Payment $453 + 6% FL Sales Tax = $480.18

    Dealer wants the following amounts up front:

    1st Month's Payment $480.18

    Bank / Acquisition $495.00

    Registration & Tags $225.00

    ---------------------------

    Total Up Front of $ 1200.18

    ---------------------------

    The question is are the any Incentives and/or Rebates on the 2005 RX-8 that we're just not seeing?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, hpowders. Make sure to let us know how everything turns out.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your new car, googlez. The first thing that I notice about the lease that you just signed is the large down payment. 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 your E320 would be exactly the same, regardless of whether you had put $5,000 down, or had made absolutely no down payment at all.

     

    Also, you never mentioned the selling price of the car that you leased. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you leased you it is difficult to tell how good a price you are got it for. The second reason is that we need to know the selling price of this vehicle is that it is necessary to calculate its lease payment. I would be more than happy to work up a sample lease payment on the car that recently leased for you so that you can compare it to the payment that you are making if you let me know what its selling price is.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi atfryar. If you have questions about leasing, then you definitely have come to the right place. Here is the information that you are looking for.

     

    If you were to lease a 2005 Infiniti FX35 AWD through Infiniti Financial Services right now for 3 years with 10,000 miles per, its base lease money factor and residual value should be .00215 and 59%, respectively.

     

    If you were to lease a 2005 Volvo XC90 2.5T AWD through Volvo Finance right now for 3 years with 10,000 miles per, its base lease money factor and residual value should be .00174 and 62%, respectively.

     

    If you were to lease a 2005 Volkswagen Toureg V6 through Volkswagen Credit right now for 3 years with 10,000 miles per, its base lease money factor and residual value should be .00151 and 57%, respectively.

     

    Last but not least, if you were to lease a 2005 Saab 9-3 Convertible Arc through Saab Financial Services Corp. right now for 3 years with 10,000 miles per, its base lease money factor and residual value should be .00110 and 57%, respectively. The numbers for an otherwise identical lease of a 2005 Saab 9-3 Convertible Aero should be .00104 and 55%.

     

    Late in the model year, unless one can negotiate an unbelievable selling price on a leftover model one is usually better of leasing a vehicle from the new model year, in this instance a 2005 model. This is because vehicles' residual values gradually drop as the model year progresses. The lower a vehicle's residual values are, the more expensive it is to lease. In fact, out of the vehicles that you are interested in, only the 2004 Saab 9-3 Convertible and 2004 Infiniti FX35 still have lease support available on them. VW and Volvo pulled the plug on their lease support on the Touareg and XC90 because their residuals had gotten too low.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome to the wonderful world of leasing, BigGuy44. Since you have never leased before, you may want to check out a couple of the informative articles on the subject that are available here at Edmunds.com. Here are links to two articles that I always recommend to community members: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

     

    What you heard about Nissan's current lease program on the 2005 Pathfinder is correct. Its 39 month lease program is much more attractive than its 36 month program is. If you want to lease this truck, 39 months is definitely the way to go.

     

    The most important numbers to focus on when negotiating a lease are your vehicle's selling price and its lease money factor. The selling prices of leased cars and trucks can be negotiated, just as if you were paying cash for them. Do some research here at Edmunds.com to figure out approximately how much money you should pay for the truck that you want and then comparison shop with a few dealers. you should be able to get an idea of what sort of prices others are paying for the '05 Pathfinder by stopping by the following discussion: "Nissan Pathfinder: Prices Paid & Buying Experience".

     

    As far as this truck's lease money factor goes, I can tell you exactly what is should be right now. In order for me to do so, I need you to tell me exactly what Pathfinder you want to lease, i.e. a 2005 Pathfinder XE 2WD, Pathfinder SE 4WD, etc... Let me know and I will tell you what its lease program currently is.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello clones. I believe that Detroit is in Toyota's Cincinnati region. Unfortunately, have not seen the exact special lease money factor that Toyota is providing on the 2005 Highlander in this area this month. I can tell you for certain that Toyota Financial Services' 3 year, 12,000 miles per year residual value for the 2005 Highlander 2WD non-Limited is currently 64% and its residual for the '05 Highlander 4WD non-Limited is 65%. In most areas that I have seen its special lease money factors for, its 36 month factor for Tier 1 customers who lease this truck is around .00130. There is a good chance that is what Toyota's money factor is in your area as well.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey big_sb. It is true that in order to achieve the lease payment that is being touted in an advertisement that the same MSRP and selling price must be used. However, unless you are interested in a trim level that has a different lease program than the one that was advertised, a less expensive vehicle would have a lower lease payment, assuming that you are able to negotiate a lower selling price.

     

    Trust me, no manufacturer would advertise a lease on a vehicle that would cause its dealers to lose money. If you saw an official manufacturer run advertisement for a Pathfinder lease, there is definitely a decent level of profit in it for the dealer. In fact, to take this a step further, most manufacturers' advertised lease payments actually leave a little meat on the bone so to speak. Knowledgeable consumers who shop around for their new car or truck are usually able to negotiate a lower selling price and monthly payment on vehicles than the ones that are being advertised.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mjferguson. Most banks provide consumers with a discount in the lease money factor that is used to calculate the cost of their lease if they pay for the entire thing in advance. I am not sure how much of a money factor reduction American Honda Finance Corp. specifically provides for this sort of lease though. You need to check with the dealership that you are working with to find out for certain.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gwl4001. General Motors' employee purchase program is a great thing for those who are eligible to purchase through it. It eliminates the need for negotiation by providing the same low price for vehicles, regardless of the dealer that one purchases from. It is strange that you were given different payment quotes from different dealers on the same car. Perhaps this difference in payments had to do with the amount of money due at lease signing or the inclusion / exclusion of tax.

     

    Vehicles' residual values are based upon a percentage of their MSRPs including destination charges plus the MSRPs of any options that can be residualized. I believe that General Motors Acceptance Corp., GM's captive finance company, allows the full residualization of all factory options.

     

    Generally speaking, the longer a lease is, the lower your lease payment will be. There are exceptions to this rule though depending upon the lease program that is available on the vehicle that you are considering. Let's work up a couple of sample lease payments on the car that you are considering for you. According to my calculations, if you were to lease a 2005 Pontiac Grand Am GT with an MSRP of $26,265 and a selling price of $23,379.30 through GMAC right now for 2 years with 15,000 miles per, its zero down, pre-tax lease payment should be right around $333. The payment for an otherwise identical 3 year lease of this car would be around $304.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, ackerman. I am pretty sure that the customer lease cash that is available on this car is only available for 24 to 30 month leases. I am not sure what sort of disclosure of incentives Mazda requires its dealers to provide.

     

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  • marcus2marcus2 Member Posts: 1
    I am looking to lease a Honda Odyssey EX-L in NY. The dealers I have spoken with all claim that Honda adds a $1,095 bank fee to the Price to calculate the Net Cap Cost. Do you know if this is a non-negotiable fee? Is the dealer taking any part of this that could be negotiated away, etc.?

     

    Also, every time I ask for all of the appropriate info to calculate the lease myself (net cap cost, other fees, residual value, money factor, term, sales tax) I wind up calculating a different lease payment then the dealer. I assume there are other hidden fees here I am not being told about, any guess as to what they might be?

     

    Thanks!

     

    Marc

     

    Thanks,

     

    Marc
  • hartthartt Member Posts: 79
    I'm looking for some opinions on the following offer.

    24 month lease with 12,000 miles a year for $299 a month (tax not included). Requires only first months payment and security deposit down.

    Vehicle is very well equipped and stickers for $33,680.

    What do you think of this offer?

     

    Tim
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Marc. Just about every bank that leases vehicles to consumers charges a lease acquisition fee. In most states, banks charge an acquisition fee of $400 to $600 or so, but over the past year or two many banks have increased their fees for residents of New York significantly to help make up for the additional liability that they are exposed to through the vicarious liability laws that exist there. American Honda Finance Corp.'s (Honda's captive finance company) lease acquisition fee for residents of New York is indeed currently $1,095. Unfortunately, this fee is not negotiable and individual dealers do not have the authority to waive it. You can either pay it at lease signing or have it added to your vehicle's capitalized cost.

     

    It is difficult for me to say why your lease payment calculations are turning out differently than the calculations of the dealers that you have been working with. If they provide you with the MSRP, capitalized cost, length, money factor, and residual value for the vehicle that you want you both should come up with identical lease payments. Did you use the formula that is outlined in the following article to calculate your payment: Calculate Your Own Lease Payment? Perhaps the dealers are including tax in their payments and you are not.

     

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  • jacqueusijacqueusi Member Posts: 55
    TOTAL newbie when it comes to leasing as I've always buyed used. Today, I stopped by the local Dodge dealer. The salesperson informed me that current buy incentives for 2004 Durangos are $4,500 + $2,000 (til Dec. 31st) if I can get a Chrysler employee to "sponser" me. No problem on the sponsership.

     

    So I'm looking at $6,500 in rebates less the negotiated price of the Durango. CR invoice including holdback but not the $6,500 in rebates with the options I was interested in came out to be $35,561.68, that includes a 4% profit for the dealership that I threw in for good measure.

     

    Normally, I would buy, but the salesperson is telling me the $6,500 can be applied to a lease as well. He's offering me a 2/24K lease for around $384/month with 0 down. I was stunned because if I understand the process correctly, I'm getting $6,500 over 2 years to offset the lease price. Is this correct? Is this a good deal? Sooo confusing!

     

    Thank you in advance.

     

    RRL
  • fp2003mufp2003mu Member Posts: 1
    I have a toyota 2003 sequoia sr. I have 36 months left on the lease. What is the advantage of paying off just the lease for the 36 months (lease maturity of $14,700) .. I still have Residual is 16,000+ to take care if buying out this car. I was considering swap-a-lease but by my financial institution does not allow lease transfer. I need a zer0 balance for my credit report on the car.

     

    Any advise out there for me? ? ? Thank u.
  • shaker58shaker58 Member Posts: 130
    Hi carman

     

    sorry about that 12000 per yr

     

    I also heard they have multiple sec deposit deals in ny this month any info on them? I saw ad for 30 months lr3 for 579.00
  • valleydrivervalleydriver Member Posts: 5
    hey guys,

    i want to lease a Mazda3 hatchback. got the numbers from the edmunds site. also read the '10 Steps to Leasing.' at the Calculator, i wasn't sure how to deal with the 'Lease Residual Value.' do you have a figure for that line item?

     

    also, although you suggest three year leases, the Mazda3 comes with a four year/50,000 mile warranty. i'm just coming to the end of a four year lease on a volvo V40. it's held up pretty well. would you suggest going for four years with the Mazda3: i assume the lease payment would be lower and there wouldn't be any extra expense for an extended warranty.

     

    thanks,

    valleydriver
  • scrapluvscrapluv Member Posts: 12
    Ok. Can you factor in The Bank Fee of $600 and $1340.03 total sales tax. What do get as far as monthly payment?
  • beccag873beccag873 Member Posts: 1
    Hello. I have been reading some of your posts and found them to be quite helpful! Would you kindly let me know if you think this is a good deal. I have 5 quotes and this one seems to be the best:

    2005 Jetta GLS 2.0L

    Automatic (CA/NE emissions)

    Leather Package

    Cold Package

    ESP option

     

    msrp: 22,200

    selling price: 20,499

    $645 due at signing

    Residual 49%

    RI tax 7%

    Lease payment based on 48months/12k mi year $220

     

    I know you do not recommend a 48mo lease, but it is what we can afford right now.

    Any help is greatly appreciated!! We're looking to make a deal within 48 hours.
  • lwhitelwhite Member Posts: 18
    Car_Man:

     

    Thank you for all your information I've requested over the past month. It looks as if I've (read my wife) decided to continue our BMW relationship and turn in our 5 series and lease a new 2005 X5 3.0. Probably something to do with the stork showing up in 6 months I guess.

     

    The numbers work as follow:

    MSRP 54,570

    Cap 50,735- really quoted as 51,000 due to 200 ad fee. Does this exist in the NYC area?

    10k/ 36 months

    0 down

    Fees up front

    December base MF/ residual 10K

     

    My salesman has been very straight forward with me( our second dealing)quoting $597/ month with ad fee, and just wondering what does this equate to monthly on your calculator?

     

    Looking forward to sharing my final deal information with everyone.
  • mrmusicmanmrmusicman Member Posts: 4
    On a 2005 v8 Touareg with a sticker of $54,185 (premium plus, towing hitch, 19 inch wheels), I've been quoted the following lease price: no money down, except title, tax and 1st month payment, and a payment of $599 a month 4 years, 12k miles per year. Won'thave the exact details until tomorrow. This looks pretty good to me, but I wanted to get a sanity check. Thanks.
  • sgsunnysgsunny Member Posts: 20
    my current acura tl (2002-s-type) lease terminates on jan 11 2005. I've been driving

    acuras for 8 years - impeccable payment hx w/them. i would like to lease another tl (2005),

    no navi. recently acura informed me i have the

    option of extending my current lease as long as i

    want, same mo'ly cost ($465); my thinking: if it

    sounds too good to be true- - it probably is!!!

    perhaps the residual value goes down..??? unfor-

    tunately i am not as lease-savvy as i should be.

    looking at 2 offers: the best i've heard is $478/month (tax in); "not a penny down" ("sign &

    drive") as was said to me; 42 months; 12k miles/yr. however, i believe i need 15k mi/yr.

    ...by the way, though i paid for 15k mi/yr, i am

    under by over 15k miles!!! is this quote for the

    $478 fair...will be higher b/c i'll need 15k...or

    @## very overwhelmed..

    female going at it alone....!!!!!!!
  • polyvwpolyvw Member Posts: 59
    car man,

      

    Long time lurker, 1st time poster,

      

    I was hoping to get some lease info from you about a couple of different cars.

      

    Can I have the residuals and moneyfactors based on 24/36 mos and 15k/yr for the following cars:

      

    04/05 Lexus IS300 5-spd

    04/05 Audi A4 1.8t fwd&quattro

      

    Thank you so much in advance!! This will really help
  • sgsunnysgsunny Member Posts: 20
    please forgive me...in my previous posting i for-

    got to indicate that i live in Palm Beach County,

    florida...if that is of any cosequence...any

    guidance is helpful...i am NEW to this...

     

    thank you very much...what a wonderful venue!!!

    having perused sev'l postings your info is sooo

    valuable!!!!
  • rshlachterrshlachter Member Posts: 4
    thanks car man. One more question. I now have a lease quote in portland oregon of money factor of .00120 on 36 mo., 12k/year lease. I have been quoted 58% residual on 2005 limited. Is that residual number correct? is it too low?

     

    thanks.

     

    rob
  • jhcolojhcolo Member Posts: 3
    Today my dealer offered me a 36 mo. 12K annual miles zero down lease on a loaded G6 for $265/mo + tax. He said he was taking into account my 3500 GM Card points to get to that payment. First, how do these points work in a lease scenario? Dollars off MSRP? I have not seen all the figures going into the lease - will do that tomorrow. Second, my impression is that this is a pretty good lease deal. What do you think?

    Vehicle is 2005 G6 GT (new) Premium Value Pkg with sunroof, XM Radio, OnStar, Side/head air bags, Keyless entry/Remote starter, Leather pkg. MSRP $27,800
  • zanskarzanskar Member Posts: 3
    Hi Car_man,

     

    I'm hoping you can help me out. I've just finished negotiating for a 2005 Lexus RX330 and heading into the dealer tomorrow to discuss financing. I'm hoping that you can answer a few questions, before I get to the dealer. First, what is the current money factor and residual value for a 36 or 42 month lease. Second, I'm trying to figure out if I should lease or buy. I'm not sure what Lexus is offering as far as finance rate. If you don't know then let's assume 3.95%? Please note that my purchase price with the premium plus package is $37,300, I plan on driving 15,000 miles a year, and I believe the current money factor is .0018 (correct me if I'm wrong). Finally, do you have any advice about purchasing this vehicle at the end of lease term vs. purchase/finance from the start? Thanks so much for adding great value to Edmunds site. You're a keeper.
  • jag7jag7 Member Posts: 3
    Hello Car Man,

     

    I've been attempting to calculate a lease based on the following information, however, the numbers that i came up with are different from the dealer. Before i present them with the new numbers, i thought i'd ask an expert:

     

    Cap Cost: 29,000

    First Month: 330.00

    Security: 400.00

    Bank Fee: 795.00

    Residual: 17,881

    Money Factor: .00096

    Trade In: 4,000.00

    Tax: 1108.00

    Registration, & Other fees : 100.00

    Term: 36 months

     

    I came up with 299/ month and the dealer 330/ month.

     

    Could you provide me the proper formula to use, assuming that my trade in, of $4,000 will cancel out all fees, taxes, security and first month (4,000-[330+400+795+1108+100]=1267), with the remaining 1267, being used to reduce my monthly payment... not sure if my thinking is correct.

     

    thanks,

    zack
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