Lease Questions - Ask Here

bisedogg · January 2005

Car Man,

Thanks for the info. If you wouldn't mind, I would really like to see the lease calculations for this car. The length and mileage that I have been considering are 3 years and 12k per year. I don't think it is any better, but I would go to 39 or 42 months if the lease is any better. Thanks again!

CarMan@Edmunds · January 2005

Hi shatzi. $350 over invoice is a very good price for this truck. Furthermore, .00138 is Toyota Financial Services' base lease money factor for Tier 1+ consumers in your area. This is also a good sign. The salesperson who you spoke with was correct, on the 2005 Toyota 4Runner in your area, consumers have the choice of 2.9% financing for up to 5 years, $900 customer cash, or a special lease program.

All of the aspects of this deal that you mentioned look good to me. I was not able to double check the calculated lease payment though because you never said how long this lease is for or how many miles per year you are allowed to drive with it.

Car_man

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CarMan@Edmunds · January 2005

Greetings gorbonzo. Chrysler Financial's lease program on the 2005 Jeep Grand Cherokee definitely is nothing to write home about. Its exact lease money factors for this truck vary by trim level. If you let me know exactly which truck you are considering, i.e. a 2005 Jeep Grand Cherokee Laredo 2WD, Limited 4WD, etc... I would be more than happy to tell you exactly what its lease program should be like. Generally speaking, most of its best money factors on this truck are currently around .00240 or so. This is equivalent to an interest rate of around 5.76%. You definitely will not be able to lease this car with a money factor that is below .00200 (4.8%). DCX's current lease program is only scheduled to run through January 3rd. It is difficult to say what its new January lease program will be like. I suspect that its residual values for most models will be lower, but it might also enhance its lease money factors on many vehicles to make up for the drop.

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CarMan@Edmunds · January 2005

Greetings gorbonzo. Chrysler Financial's lease program on the 2005 Jeep Grand Cherokee definitely is nothing to write home about. Its exact lease money factors for this truck vary by trim level. If you let me know exactly which truck you are considering, i.e. a 2005 Jeep Grand Cherokee Laredo 2WD, Limited 4WD, etc... I would be more than happy to tell you exactly what its lease program should be like. Generally speaking, most of its best money factors on this truck are currently around .00240 or so. This is equivalent to an interest rate of around 5.76% or so. You definitely will not be able to lease this car with a money factor that is below .00200 (4.8%). DCX's current lease program is only scheduled to run through January 3rd. It is difficult to say what its new January lease program will be like. I suspect that its residual values for most models will be lower, but it might also enhance its lease money factors on many vehicles to make up for the drop.

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CarMan@Edmunds · January 2005

You're very welcome, Rob.

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CarMan@Edmunds · January 2005

Hey Superep. Congratulations on your new truck. Thanks for taking the time to come back and let us all know how everything turned out.

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CarMan@Edmunds · January 2005

I responded to your original post in message #15872, shatzi. Please check there for my answers to your questions.

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CarMan@Edmunds · January 2005

Hi golfer0608. If I was in your situation and drove 30,000 miles per year I probably would just finance or pay cash for this car. How many miles per year are you allowed to drive with the lease that you were quoted?

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jpl · January 2005

Car_Man, Thanks for the info, guess I will look at 05. Be back later in the week with details, If You don't mind!!!

Thanks & Have A Happy-Healthy-New-Year

jpl

CarMan@Edmunds · January 2005

Sounds good to me, jpl. Talk to you soon.

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CarMan@Edmunds · January 2005

Here is the informaiton that you are looking for, ESH. If you were to lease a 2005 Audi A4 1.8T Avant through Audi Financial Services right now for 42 months with 15,000 miles per year, its base lease money factor and residual value should be around .00059 and 51%, respectively.

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CarMan@Edmunds · January 2005

I certainly can help you out, samiam11. According to the latest informaiton that I have seen, if you were to lease a 2005 Subaru Legacy GT Sedan through its captive finance company prior to January 3rd for 36 months with 12,000 miles per year, its base lease money factor and residual value should be .00140 and 48%, respectively. The numbers for an otherwise identical 48 month lease of this vehicle should be .00125 and 42%.

if you were to lease a 2005 Subaru Legacy GT Limited Sedan through its captive finance company prior to January 3rd for 36 months with 12,000 miles per year, its base lease money factor and residual value should be .00125 and 50%, respectively. The numbers for an otherwise identical 48 month lease of this vehicle should be .00125 and 44%.

When shopping around for either of these models, keep in mind that Subaru is providing $1,500 lease cash on the 2005 Legacy that will help you to negotiate an attractive capitalized cost.

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samiam11 · January 2005

Thanks for your help Carman. Just one other question - does either the MF or residuals change if the vehicle is a wagon as oppposed to the sedan?

Thanks again.

golfer0608 · January 2005

Thanks for responding. As far as I know, there is no ceiling to the mileage/yr on the lease.

Any suggestions

rnw · January 2005

Car man,

Thank you very much for reviewing the details of my MB deal. It is good to know that the salesperson that I am talking with is working to put together a good deal. Unfortunately, when the dealer showed us the car, the wagon had a very light color interior (stone). This is not good for me. I will continue to work with this salesperson to get a different car. The information that you provided is invaluable for me in my negotiations. I may come back with additional information on another car; I will let you know final outcome.

Thank you, RNW

rbarone · January 2005

Carman,

Can you tell me what the money factor and residual would be on a 2005 Nissan Frontier Kingcab 4x4.what would be a reasonable monthly payment range i would be looking at for a 2005 Frontier LE King Cab with auto trans.Thanks.

sgsunny · January 2005

Car_man....thank you so much for your response...A VERY HEALTHY & HAPPY NEW YEAR TO YOU!!!! WOW!! Your calculation is eerily familiar! I AM APPROACHING THE FINISH LINE ON A

DECEMBER DEAL!! I have completed preliminary paperwork for a deal (to consumate NEXT WEEK, back-dated to December, unless the Jan lease programs look better) Here's where we're at:

2005 acura tl w/o navi

MSRP of $33,470

42 mo lease

$1000 due at signing (not optimum, I've learned)

15,000 mi/year

monthly payments = $460 TAX INCLUDED

(hoping to discuss $455/month, or $200-$210 savings)

many thanks again...and to all at edmunds---A

WONDERFUL NEW YEAR!!!

your thoughts? I do have another dealership I can try to counter-

offer....they were off (over) by $252 total (out of pocket + 42months

x quoted payment - tax in)compared to the above listed offer. that

means i would be seeking an adjustment of $462....however, they also

had my 1st color choice...

bigblueindy · January 2005

Hi Carman. I was wondering what the current money factor and lease residual percentage are on a 05 Honda Accord EX, 4 cylinder w/leather for 36 and 42 months? I have a family member looking at getting one tomorrow but I want them to be armed with some knowledge before going to battle. Thanks for your help.

dmgoodman · January 2005

Car Man:

This board provides a tremedous service. Thanks to information I found here I was able to lease a Lexus RX 330 for my wife at a very good price. Was able to use the money factor and residual data you provided and the information from another user that Lexus dealers would cap at or near invoice to get the right payment. Used info from this board on my last two leases as well. Thank you vey much. You and other posters have saved me thousands of dollars over the life of these leases. Truly appreciate the service you provide. Interestingly, the Lexus sales person monitors this board as well and when I mentioned Edmunds and the info I had the negotiations ended quickly in my favor. No long, drawn out battle.

auntie m · January 2005

Hi Car_Man!

I've got a net cap cost on a new subaru wagon, LL Bean edition, of $30,500...what's a good residual amount for that? (Money factor is currently at .00155 but I'm trying to get it down to .0012 for 39 months)

Thank you and happy new year!

Maggie aka auntie m

ralstonian · January 2005

Wondering if I could qualify for a lease with my mixed bag of details. Credit scores of 679,779, and 730; income over 60K, but 40K of that from overseas employer - same company for 7 years. One collection listed with the 679 score. I'm targeting a 28k car. Do you think it's possible or should I just opt for trad financing at higher rates, if that is even possible? Thanks

shatzi · January 2005

Thanks for the response. The lease is for 36 months at 12,000 miles. Actually, I leased the car with another dealership yesterday for $420 a month on a 2005 4Runner Sport Edition V6. It is loaded and I feel pretty good about the deal.

Shatzi

CarMan@Edmunds · January 2005

Hi everyone. Welcome to 2005! I am posting a general note to let you all know that most manufacturers' December lease programs have either just expired or are scheduled to run through today, January 3rd. I have not had an opportunity to take a look at any of the new January 2005 lease programs yet. As a result, I will hold off on answering any specific questions about manufacturers' lease programs for now and instead just answer any general questions that you have about leasing. If you have a question about a specific vehicle's or vehicles' lease programs, please post it for me towards the end of the week and I will be more than happy to fill you in on what I have been able to find out. Talk to you soon.

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CarMan@Edmunds · January 2005

Yes, samiam11, Subaru's lease program for Subaru Legacy Wagons is normally a little different than its lease program for Legacy Sedans. As I mentioned in my previous post, I have not seen the January lease program for Subaru yet so I can not tell you exactly what the factors and resids should be like for these models this month yet. Please feel free to check back with me towards the end of the week with a quick reminder. Thanks.

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CarMan@Edmunds · January 2005

Hey golfer0608. All banks that lease vehicles to consumers place a limit on the number of miles per year that vehicles can be driven. If they didn't lessees could run their leased cars and trucks into the ground, putting hundreds of thousands of miles on them without any consequences. Most banks' lease programs allow for either 15,000 or 12,000 miles per year. Some banks, but not American Honda Finance Corp., allow the lease of vehicles with only 10,000 miles per year.

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CarMan@Edmunds · January 2005

You're very welcome, RNW. I am glad that I was able to help you out. Let me know when you decide upon another vehicle and I will do my best to give you an idea of what its lease program is like.

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CarMan@Edmunds · January 2005

No problem, sgsunny. Good luck in your negotiations and please let me know if you have any other questions.

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CarMan@Edmunds · January 2005

Hey bigblueindy. I was holding off on answering most specific lease questions because most manufacturers programs only run through today, but since your relative plans on leasing something new today here is the information that you are looking for. If they were to lease a 2005 Honda Accord EX 4 cylinder through American Honda Finance Corp. today for 36 months with 15,000 miles per year, its base lease money factor and residual value should be .00192 and 55%, respectively. I have not seen this car's 42 month lease program, but I can tell you that its factor and residual for a 39 month lease should be .00192 and 52%. If your relative was to lease with only 12,000 miles per year, this car's residual values would be 2% higher.

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CarMan@Edmunds · January 2005

You are very welcome, dmgoodman. I am glad that we were able to help you out. Congratulations on your new ride and thank you for taking the time to come back and let us all know how everything turned out.

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hartt · January 2005

Thanks for your reply. He did end up leasing a new F-150 XLT 4X4 Supercab on New Year's Eve day. I was hoping you might still have the numbers for a 2yr/24K mile lease for December. I know it doesn't matter now but I would like to see how well he did.

He ended up leasing the vehicle for 2years with 12,000 miles a year for $303 plus tax of $20. Total payment is $323. He only put the required up front down. I think he did well. What do you think?

therose400 · January 2005

CarMan:

Can you tell me what the money factor and residual should be on the following cars:

2005 Crossfire Roadster - 39 & 48 month leases

2005 Crossfire Roadster Limited - 39 & 48 month leases

Please try to hurry as incentives end tonight! Thank you!!

gatts201 · January 2005

Anyone have any idea approx what the lease prices are I should be lookin at for a 2005 nissan Maxima se. The sticker on the car was $28,130.

stein · January 2005

Carman,

My wife and I would like to lease a Toyota Sienna XLE (FWD). We are planning on closing a deal either later Jan or Feb.

Does toyota ever offer any lease support on the Sienna? What are the money factors and residuals on a Sienna lease for either 36 or 39 months and 10K vs 12K a year (we have only 15K on our last 39 month lease, so unless they have support on the 12K, we prefer 10K).

Thanks for your help.

CarMan@Edmunds · January 2005

Here is the information that you are looking for, hartt. In December, Ford Credit's 2 year, 12,000 miles per base lease rate and residual value for the 2005 F-Series Light Duty SuperCab XLT 4WD Pickup were 2.5% and 65%, respectively. You can convert this lease rate into an approximate money factor equivalent by dividing it by 2400. In addition to the special lease rate, Ford was providing $1,500 lease cash and an additional $500 bonus for leases of this truck through Ford Credit ($2,000 total) that would have helped one to negotiate an attractive capitalized cost. I would be more than happy to work up a sample lease payment on this pickup for you if you let me know its full MSRP and selling price.

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CarMan@Edmunds · January 2005

Hi therose400. While DaimlerChrysler's December lease program is only scheduled to run through January 3rd, I am fairly certain that it will continue to provide a similar level of support when its new January program is introduced. It was only providing special lease money factors for 39 month terms under its December program, so that is the length lease that I will give you information for. If you were to lease a 2005 Crossfire Roadster (non-Limited) through Chrysler Financial using the December program, its 39 month, 15,000 miles per year base lease money factor and residual value should be .00062 and 56%, respectively. The numbers for an otherwise identical lease of a 2005 Crossfire Roadster Limited with an automatic transmission should be .00123 and 53%. DaimlerChrysler is providing a $1,000 bonus on leases of these models through Chrysler Financial.

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CarMan@Edmunds · January 2005

Hi gatts201. If by lease price you mean the selling price of the 2005 Maxima that you are interested in, you may want to stop by the Nissan Maxima discussion in the "Prices Paid" forum to see what sort of prices other community members have paid for this car lately. If you wanted to know what sort of lease payment you can expect on this car, give me a few days to find out what its new January lease program is like and provide me with the full MSRP and selling price of the car that you want along with how long you want to lease it for and how many miles per year you need to be able to drive it and I will be more than happy to try to give you an idea of what your lease payment should be like.

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CarMan@Edmunds · January 2005

Hi stein. Toyota had not provided any sort of lease support on the Sienna since it was redesigned, that is until a month or two ago. It has now begun to offer a very small amount of lease support on this van in certain parts of the country. I suspect that this is because it is feeling a lot of sales pressure from the more recently redesigned Odyssey. It is difficult to say what Toyota's lease program will be like for the 2005 Sienna in January or February at this time. Please feel free to check back with me when you are closer to the actual date that you plan to lease this van and I will be more than happy to try to give you an idea of what its lease program is like. When you do so, make sure to tell me what state you are in because Toyota's lease program varies regionally.

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yspec · January 2005

I am interested in buying my 02 RR at the end of the lease (2 months from now) I leased it through Land Rover Capital. Any advice on negotiation and results?

yrs

ortega · January 2005

Hi CarMan. I was wondering if you had the January lease numbers for Acura. I've been offered a 2005 Acura TL w/NAVI for $33,000 (this is in NJ). Looking into 36 or 39 month lease, no money down. What are the residuals and money factors with AHFC for January?

CarMan@Edmunds · January 2005

Hi yspec. In order to find out if the bank that you are leasing your truck through is willing to lower its lease-end purchase price, you will have to place a call directly to them a month or two prior to the scheduled end of your lease. Don't bother involving that you got the dealer from because they do not own your vehicle and do not have any authority to help you. You may find that your initial contact is not willing to work with you. If so, work your way up the ladder to a manager who may have the authority to do so. There certainly is no guarantee that they will be willing to work with you on your truck's purchase price, I would say that more often than not banks will not, but you definitely do not have anything to lose by trying.

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CarMan@Edmunds · January 2005

Hi ortega. Acura's December lease program was scheduled to run through today, January 3rd. It will not publish its new January lease program until tomorrow at the earliest. I should be able to give you an idea of what its numbers are like for the car that you are interested in if you post a reminder for me towards the end of the week. Talk to you then.

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gatts201 · January 2005

Thanks for your reply. I'm goin to take a ride to the dealer tonite and get you that information. Another question in the meantime. I do drive alot and will probably drive well over the allottment. I currently have a low income, but in my industry will probably jump significantly in the next 2-3 yrs. I'm considering leasing due to my cash flow problems right now (getting lower mnthly payments) and fully intend on buying the vehicle at the end to avoid the penalty of going over the mileage limit. Is this a bad idea, do you have any other suggestions. First time car buyer/leaser.

joeb38 · January 2005

Hi guys, you are Great! I've been offered a pewter metallic 4dr e-320 rear wheel with sun, nav and 6 -cd changer for 579 a mo/39 months. 12k miles per year and 3794 total due at signing including tax. Is this a good deal?

buckeyeman · January 2005

Hi Car_man,

First off thanks for the reply.

The Toyota dealer is having a hard time locating this vehicle, so I haven't gotten a price yet.

I did get a price on a '05 Nissan Frontier from a local dealer.

4X2, 4cyl., 5-speed

XE King cab

XE Preferred Pkg.

Cruise Control,

Floor mats,

Bedliner

MSRP $18,320.00 I don't have invoice pricing yet.

2 yr. lease w/no $$ down, 15K miles, $399.09 a month. After 2 yrs. he said residual value is 65%.

There are no lease deals currently w/Nissan.

golfer0608 · January 2005

Car Man-

The acura dealership quoted me a specific price with either 30k/miles per year($659/yr) for 42 months or 28k/yr(at $645/yr.). I was told I would pay 10c/mile from the outset vs. 15cents/mile if I go over the allotted mileage.

The bottom line is that I save $4000 up front.

Please advise.

Thanks for all your help.

pakdelight · January 2005

Please advise on the 42 month lease on a 2005 Honda Civic VP (Value Package) as follows:

1. $150/month (includes 5% MA sales tax) for 41 months.

2. $1000.00 down payments (includes first month payment of $150, registration fees etc.)

3. $1500.00 (approximately) MA excise tax for 42 month

4. 12K miles per year

Thanks

steine13 · January 2005

With those numbers, sounds like a great deal.

I challenge you to buy a used civic of pretty much any age and drive it 3.5 years for $150/month including repairs.

Only thing I don't like, you're out of warranty for 6 months; I'd try to get that taken care of "somehow".

-Mathias

pakdelight · January 2005

Many thanks for a quick response. This is the first time that I am going to lease a car.

What kind of risk could I run into for not taking care of the last 6 months of lease?

Thanks,

Zahid

cpagem · January 2005

Carman,

I would appreciate your thoughts....

?Good Deal



48month lease, 15K/yr

Cap Cost $61300

MSRP $67489



Custom Luxury Selection with additional options: includes Mark Levinson® 11-speaker 240-watt Premium Audio System, Lexus voice-activated DVD Navigation System with backup camera and Bluetooth® technology, Perforated leather seating surfaces, Dynamic Laser Cruise Control, Laminated side glass, Intuitive Parking Assist, Front climate-control seats with heat/cool knobs, Headlamp washers, Power door closers and Rear-seat heaters.

Additional Options:



  - Interior Upgrade Package with perforated semi-aniline leather trim

  - 18-inch all-season tires with Lexus Chrome Wheels

  - SmartAccess

  - Preferred Accessory Package (includes Cargo net, Trunk mat and Wheel locks)





Lease rate/month: $742.00 plus tax

Lease rate based upon 2K equity applied as part of a trade in.

Thanks in advance.

lwv · January 2005

Carman,

Is the rate the same for Smart Buy on the o4 GTO?

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