Longer answer: Check your present value [Real-World Trade-In Values], check your residual, DON"T tell them the miles and try to buy the car for less. Pay the residual if you have to and if it makes sense. Keep the car or sell it on the street. The difference in value between 29k and 75k "should" be huge, but there are many variables in your problem.
If I were you, I'd look into it.
-Mathias
EDIT: When I say "don't tell them the miles", the THEM you're talking to is the leasing company (Chrysler Financial or whatever they're called). I wouldn't lie if they asked me how many miles I have, but I'd certainly say someothing like, "well, I've got another car, so I'll make sure I don't creep over the 75k".
You paid for the milse, *try* not to pay for them again. Also, keep the dealer out of it; Terry always advises people to speak with a "regional or district manager" about the purchase price; 5-6 weeks before the lease is up, when they can look at auction reports and now what the score is.
It would probably help if you had NOT serviced the car at DC dealerships... they might get industrious and look up your maintenenace history and hence the mileage...
We usually have this history of driving vehicles for less than 10,000 miles a year everytime we lease one, and don't want to deal with getting a new lease every 3 years.I just felt that 53% residual on a 5 year old vehicle with almost 60K is too optimistic. Presently Pilots are selling at invoice, compared to MSRP earlier, that shows signs of a depreciation trend, not present before
I'm with Mathias... Have them run the numbers for a 36 month lease.. Hondas are very reliable, but you don't want to take the chance of getting stuck with a big repair bill on a car you don't own... I'm betting the 36 month lease won't be more than $15/month more..
You're welcome, gatts201. Your plan sounds a little dangerous to me, but I am relatively conservative financially speaking. If I was in your situation and was positive that I would exceed any mileage allowance that I would have if I leased by a significant margin I probably would purchase a less expensive used vehicle rather than lease a brand new Nissan Maxima. Having said this, its your money and you are certainly welcome to use it as you please. If you still want me to estimate what sort of lease payment you can expect if you were to lease a Maxima, post the pricing info in a message later on this week and I will be more than happy to help you out.
I am glad that you enjoy this discussion so much, joeb38. In order to evaluate the lease that you were quoted, I really need to know the full MSRP and selling price of the car that you want. This information will tell me how much of a discount you are being given on it and enable me to work up a sample lease payment on it for you.
No problem, buckeyeman. You're right, I don't think that Nissan is providing much in the way of lease support on the 2005 Frontier right now, but I haven't seen its new January lease program for this truck yet.
I see, golfer0608, the payments that you were quoted included excess mileage purchased on a per-mile basis. If you are positive that you will use the mileage then it definitely is to your advantage to purchase it at lease signing rather than waiting until lease-end and having to pay an excess mileage penalty.
Hi pakdelight. The monthly payment that you were quoted definitely is attractive. I would be able to give you a more detailed analysis of this deal if you were able to provide me with this car's full MSRP and selling price though.
Hi cpagem. The selling price of this car looks pretty good to me. I definitely would not make a capitalized cost reduction if I was in the market for it though. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for this LS 430 would be exactly the same, regardless of whether you had put $2,000 down, or had made absolutely no down payment at all. If you really want to trade your current vehicle in, I certainly understand the convenience that doing so provides, have the dealer that you are trading it in to cut you a check for your equity rather than using it as a down payment on this deal.
I would be more than happy to work up a sample lease payment on this car for you, however Lexus' December lease program was only scheduled to run through yesterday, January 3rd. I have not seen its new January lease program yet. Please feel free to post a reminder in this discussion for me later on this week and I will estimate a lease payment on this car for you using the new program.
That is a very good question, lwv. I suspect that GMAC's SmartBuy interest rate is fairly similar to its SmartLease rate for this car, but I do not personally keep tabs on the details of manufacturers' balloon note programs.
Dave, most banks do not provide lessees with refunds for unused mileage. Having said this, some banks do provide refunds for additional miles over 15,000 that were purchased on a per-mile basis at lease signing. To name one, I believe that Jaguar Credit does so.
Even though you will not receive a refund for your unused mileage, as Mathias helpfully mentioned your vehicle's low mileage might end up causing it to be worth more on the open market than you could purchase it for at the end of your lease. If you are positive that this is the case, it would be to your advantage to buy your leased car or truck and then try to sell it on your own or trade it in on your next new vehicle.
Thanks Carman. What is your opinion on the smart buy and smart lease? They seem very similar. Both work the same way with similar results. Any advantage to one or the other?
Please advise current Dealer and Customer Incentives, Rebates, Money Factors and Residuals for Mazda American Credit on 30 and 36 Month Leases on 2005 Mazda RX-8 with Grand Touring Package A/T, Appearance Package, Rotary Accent Package, Rear Wing Spoiler, and In Dash 6 Disc CD Changer.
I have been looking at Volvo XC90 T6 leases in NY: 36 mos / 12k per year. I'm also planning to do the maximum 10 multiple security deposits to buy down the money factor. Every dealer seems to be coming up with a different number for the money factor. Could you clear it up by explaining the base money factor and then how each of the multiple security deposits buy down the rate?
Also, you mentioned a few days ago that residual value for the above term would be 61%, but I've been told 60% by all.
One more thing, heard anything about what lease terms on the XC90 V8 will be?
I have a 2003 Dodge Durango on a 39 month lease with CFC. My lease expires on 02/06. I have 12 payment left (or 11 if you figure the deposit being held). My current mileage is 36,500 miles so I am sure to go over by lease end.
Would like to get out of this car into a newer Durango. Any ideas. The buyout on my vehicle is $15,000.00 at lease end.
Someone said I could use the incentives being offered to cover the outstanding lease payments and quite possibly could end up with a newer car at the same payment.
Is this possible? Also I hear that CFC has an early termination where they will forgive 6 payments if you buy into a new Chrysler. I called CFC to see what their position would be on negotiating the final buyout and they said it was a firm non-negotiable price.
What do you think? Can I upgrade with very little out of pocket expenses?
I just wanted to let you know that through you, this leasing forum, and the rest of Edmund's site, I saved myself a lot of money purchasing a brand new Lexus RX330. I ended up getting this SUV without nav or dvd for $800 under invoice and then picked up the following lease terms after putting down multiple security deposits:
I am looking to move into a new vehicle, either a T&C loaded van or a mid size SUV (Mountaineer, Aviator, Highlander ) I am just starting my search but am mostly looking for comfort and options (DVD, leather and etc). I have $20K cash and a 2001 Altima and was planning on looking at 2003ish vehicles. I am now thinking I should save my cash and look at leases. Where should I begin researching what would be the most logical choice for leases. Do extra options make a difference on the residual or do they work against me. Is there a greater residual on luxury cars.. should I look at the smaller Lexus SUV?
Thank you for your help. I feel like the more I know the less I understand...
As a rule, is there ever a scenario where leasing a vehicle (paid by individual, not employer) at 30k miles/yr. is wise.
Most articles I read try to dissuade the consumer from leasing high miles. As I said, if I leased the acura, I'd be saving $4000 at the outset by having no downpayment, but my monthly payment would be $67/month higher for the 42 month period.
Also, is the acquisition fee ($595) negotiable? The cynical me questions all these fees.
I am looking into assuming a lease for a 2003 Honda Element with 22 months remaining on it. I can handle the monthly payments of 286.00 and there seems to be ample mileage available (1200/m). I have never done a lease before and am wondering what kinds of questions I should be asking to make my decision. The rep at LeaseTrader told me that all their listed vehicles have closed-end leases, and he told me that Honda will simply charge $350.00 at the end of the lease. Neither LeaseTrader nor the seller are giving me much other information though. Any suggestions as to what I should be asking or any thoughts on what I have said so far? TIA
You're welcome, lwv. You're right, balloon notes and leases are indeed very similar. They both provide consumers with low monthly payments and the option to purchase their vehicles after a certain period of time for a specific amount of money. The main difference between balloon notes and leases is that with leases the bank's name is on your vehicle's title while with balloon notes yours is. This often causes taxes to be calculated differently on balloon notes than on leases. The reason who balloon notes are becoming popular is the vicarious liability laws that exist in some states. These laws allow people who were involved in an accident with a leased vehicle to sue both the driver and the bank that the vehicle is being leased through, since its name is on the title. Balloon notes eliminate this risk by removing the bank's name from vehicles' titles. I personally prefer leases to balloon notes because I am much more comfortable calculating lease payments than I am balloon note payments and in my area taxes are much higher on balloon notes than they are on leases, but neither option is really bad.
Hi Don. Mazda was not scheduled to publish its January incentives program until some time yesterday. I have not had an opportunity to take a look at it yet, but should be able to within the next few days. Please post a reminder in this discussion for me in a few days and I will be more than happy to fill you in on what I have been able to find out about this car's new incentives. Talk to you soon.
Hello sparky99. Volvo was not scheduled to publish its January incentives program until some time yesterday. I have not had an opportunity to take a look at it yet, but should be able to within the next few days. Please post a reminder in this discussion for me in a few days and I will be more than happy to answer any questions that you have about this model's new lease program. Talk to you then.
Greetings Ed. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least a significant portion of their remaining lease payments. As you can see, this can get very expensive.
You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". One of our most knowledgeable community members, Terry, frequents that discussion and he is often kind enough to give community members who give him an accurate description of their vehicles with his opinion on their value. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
Hey m.l. Volvo was not scheduled to publish its January lease program until some time yesterday. I have not had an opportunity to take a look at it yet, but should be able to within the next few days. Please post a reminder in this discussion for me in a few days and I will be more than happy to answer any questions that you have about this model's new lease program. Talk to you then.
Congratulations on your new truck, zanskar. It sounds like you got a heck of a deal. Thanks for taking the time to come back and let us all know how everything turned out and enjoy!
Hi isingh. Lexus and BMW were not scheduled to publish their January lease programs until some time yesterday. I have not had an opportunity to take a look at them yet, but should be able to within the next few days. Please post a reminder in this discussion for me in a few days and I will be more than happy to answer any questions that you have about these cars' new programs. Talk to you then.
Hello Kamran. You never mentioned the selling price of the car that you are interested in leasing. 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 want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease 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 you are interested in for you if you let me know what its selling price is. Or you can do so yourself armed with the information that is available in this discussion and the formula that is outlined in the following article: Calculate Your Own Lease Payment. If you are new to leasing, you might also want to check out the following informative article that is available here at Edmunds.com: 10 Steps to Leasing a New Car.
Hi stillsmilin321. I personally believe that no new vehicle is a good value if you don't enjoy driving it. It is important for you to figure out exactly which vehicle or vehicles you would be happy with. Once you have a specific list, figure out what the exact MSRP and approximate selling prices for these vehicles are. You can look up their MSRPs and Edmunds.com True Market Values in the New Vehicle Pricing section of this site. You also can get feedback on what sort of selling price to expect by visiting the Prices Paid forum. Once you know these numbers, I would be more than happy to give you an idea of what sort of lease payment you can expect to pay if you let me know how long you want to lease for and how many miles per year you need to be able to drive, ie. 12,000 or 15,000.
No problem, golfer0608. If the price that you would have to pay per excess mile is less than the actual depreciation that you expect the vehicle would incur from these miles then it can be to your advantage to lease with such a high mileage limit.
Just about all banks that lease vehicles to consumers charge an acquisition fee. Individual dealers do not have the authority to waive or lower this charge, but in some cases they can pad it to add additional profit to deals. American Honda Finance Corp.'s base lease acquisition fee in most states is currently $595.
I am glad that you find this discussion so informative, vw_vrooom. Acura's December lease program is scheduled to run through today, January 5th. I suspect that you are not going to finalize this lease this afternoon. If that is indeed the case, then you will have to use Acura's new January lease program. Since this program has not been published yet, I have not had an opportunity to take a look at it. I should be able to a few days after it is released. Please feel free to post a reminder in this discussion for me and I will be more than happy to tell you what this truck's new lease money factors and residual values are like as well as comment on your deal. Talk to you soon.
No problem, joeb38. The Mercedes-Benz December lease program has expired since we last talked, or wrote I suppose I should say. I have not had an opportunity to take a look at its new January program yet, but I expect to be able to check it out within the next few days. Please post a reminder in this discussion for me in a few and I will be more than happy to work up a sample lease payment on this car for you. Talk to you then.
Greetings ajpbf7. General Motors did not publish its new January lease program until yesterday and Honda is not scheduled to do so until tomorrow. As a result, I have not had an opportunity to take a look at them yet, but should be able to within the next few days. Please post a reminder in this discussion for me in a few days and I will be more than happy to answer any questions that you have about these cars' new programs. Talk to you then.
A big welcome to the wonderful world of leasing, to the the appropriately named newtoleasing. The first thing that I would do if I was considering assuming the lease of a vehicle is compare the cost of doing so with that of leasing a similar brand new model. It often turns out that consumers who want others to assume their leases did not get a very good deal. Honda is scheduled to publish its new January lease program tomorrow. Check back with me in a few days with the full MSRP, including destination charges, and an approximate selling price for a similar 2005 Element and I will tell you approximately what its lease payments will be like. Once you know how much it will cost to lease a brand new one you can make an educated decision about whether it is worth it to assume the lease on this used Element.
Hi stever12. General Motors was not scheduled to publish its January lease program until some time yesterday. I have not had an opportunity to take a look at it yet, but should be able to within the next few days. Please post a reminder in this discussion for me in a few days and I will be more than happy to answer any questions that you have about this model's new lease program. Talk to you then.
Hi goodman. You never mentioned the selling price of the car that you are interested in leasing. 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 want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease 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 you are interested in for you if you let me know what its selling price is.
Also, General Motors was not scheduled to publish its January lease program until some time yesterday. I have not had an opportunity to take a look at it yet, but should be able to within the next few days. Please post a reminder in this discussion for me in a few days with all of the informaiton that you have already mentioned plus an approximate selling price and I will be more than happy try to give you an idea of what this car's lease rate and residual value should be like and to calculate a sample lease payment on it for you. Talk to you then.
I am considering either an 04 or 05 Ultimate based on lease value and buy price. I think I can pick up an 04 for $47.5K and an 05 for $50-51K. Both carry the 63K MSRP. I was wondering if you had info on 3 yr/36K residuals and money factors. The dealers have been unwilling to share. This will be my 7th lease in 5 years, and I always come within a few dollars of my target lease payment when I have current info.
i'm looking to lease a volvo xc90 and have one dealer who wants to negotiate the price of the car and then go to the "business office" to work up the lease cost based on my credit. the other dealer just offered a monthly price for a 36 month lease. since i'm most interested in the bottom line monthly cost am i better off just asking for the monthly cost or is it best to negotiate as if i'm buying and then negotiate again on the money factor/residual, etc?
Thanks car_man. I'm still kind of in awe that this forum exists :-) I found some links you posted for other users and will read more to help educate myself before burdening you with redundant questions. I was planning to go to a Honda dealer today and get a comparative quote on a lease, but I will also gather information to get the MSRP on a similar new vehicle. I will be back in a couple days.
It looks like Audi has sweetened the deal on these through February. Can you give me the residuals and money factors on 12k/yr for 24, 30 and 36 months? It also looks like they're offering some dealer cash or marketing support, but there's nothing on the incentives page yet. Thanks.
Comments
Thanks
Dave
Longer answer: Check your present value [Real-World Trade-In Values], check your residual, DON"T tell them the miles and try to buy the car for less. Pay the residual if you have to and if it makes sense. Keep the car or sell it on the street. The difference in value between 29k and 75k "should" be huge, but there are many variables in your problem.
If I were you, I'd look into it.
-Mathias
EDIT: When I say "don't tell them the miles", the THEM you're talking to is the leasing company (Chrysler Financial or whatever they're called). I wouldn't lie if they asked me how many miles I have, but I'd certainly say someothing like, "well, I've got another car, so I'll make sure I don't creep over the 75k".
You paid for the milse, *try* not to pay for them again. Also, keep the dealer out of it; Terry always advises people to speak with a "regional or district manager" about the purchase price; 5-6 weeks before the lease is up, when they can look at auction reports and now what the score is.
It would probably help if you had NOT serviced the car at DC dealerships... they might get industrious and look up your maintenenace history and hence the mileage...
-Mathias
We usually have this history of driving vehicles for less than 10,000 miles a year everytime we lease one, and don't want to deal with getting a new lease every 3 years.I just felt that 53% residual on a 5 year old vehicle with almost 60K is too optimistic. Presently Pilots are selling at invoice, compared to MSRP earlier, that shows signs of a depreciation trend, not present before
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
I would be more than happy to work up a sample lease payment on this car for you, however Lexus' December lease program was only scheduled to run through yesterday, January 3rd. I have not seen its new January lease program yet. Please feel free to post a reminder in this discussion for me later on this week and I will estimate a lease payment on this car for you using the new program.
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Even though you will not receive a refund for your unused mileage, as Mathias helpfully mentioned your vehicle's low mileage might end up causing it to be worth more on the open market than you could purchase it for at the end of your lease. If you are positive that this is the case, it would be to your advantage to buy your leased car or truck and then try to sell it on your own or trade it in on your next new vehicle.
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Thanks
Please advise current Dealer and Customer Incentives, Rebates, Money Factors and Residuals for Mazda American Credit on 30 and 36 Month Leases on 2005 Mazda RX-8 with Grand Touring Package A/T, Appearance Package, Rotary Accent Package, Rear Wing Spoiler, and In Dash 6 Disc CD Changer.
Thanks,
Don Ackerman
I have been looking at Volvo XC90 T6 leases in NY: 36 mos / 12k per year. I'm also planning to do the maximum 10 multiple security deposits to buy down the money factor. Every dealer seems to be coming up with a different number for the money factor. Could you clear it up by explaining the base money factor and then how each of the multiple security deposits buy down the rate?
Also, you mentioned a few days ago that residual value for the above term would be 61%, but I've been told 60% by all.
One more thing, heard anything about what lease terms on the XC90 V8 will be?
Thanks
Would like to get out of this car into a newer Durango. Any ideas. The buyout on my vehicle is $15,000.00 at lease end.
Someone said I could use the incentives being offered to cover the outstanding lease payments and quite possibly could end up with a newer car at the same payment.
Is this possible? Also I hear that CFC has an early termination where they will forgive 6 payments if you buy into a new Chrysler. I called CFC to see what their position would be on negotiating the final buyout and they said it was a firm non-negotiable price.
What do you think? Can I upgrade with very little out of pocket expenses?
Ed
61% residual value
.00134 money factor
36 mo 12,000 miles per year
I just wanted to let you know that through you, this leasing forum, and the rest of Edmund's site, I saved myself a lot of money purchasing a brand new Lexus RX330. I ended up getting this SUV without nav or dvd for $800 under invoice and then picked up the following lease terms after putting down multiple security deposits:
MSRP: $42,483
Initial Cap Cost: $37,300
Bank Acq. Fee: $600
Mileage: 12K per year
Term: 36 months
Residual Value: $25,064.97
Residual Value: 59%
Lease Money Factor: .00045 (after paying multiple deposits totaling $3,825)
License: $291
Doc Fee: $45
Monthly Cost Before Tax: $384.86
Monthly Cost after 8.75% Oakland CA. Tax: $418.54
I couldn't have done it without Edmunds.com
An ingratiated Edmunds loyalist,
Zanskar
Could you give me the money factor and residual for the 2005 lexus es330 and the 2005 BMW 325i sedan. Both 10K/year for 36 months.
Thanks
I see that everyone is asking for advice so I guess I'll give it a try...can't hurt.
I'm currently looking at leasing a 2005 Jetta GLS (MSRP 22,220) and leasing it for 48 months.
The dealership was giving me a rough estimate of around ~250/month
I would like to know what would a good way to figure out how much I really should be paying per month and any how I calculate it. Thanks in advance
Kamran
Thank you for your help. I feel like the more I know the less I understand...
As a rule, is there ever a scenario where leasing a vehicle (paid by individual, not employer) at 30k miles/yr. is wise.
Most articles I read try to dissuade the consumer from leasing high miles. As I said, if I leased the acura, I'd be saving $4000 at the outset by having no downpayment, but my monthly payment would be $67/month higher for the 42 month period.
Also, is the acquisition fee ($595) negotiable? The cynical me questions all these fees.
Haven't decided between Base Model or Touring.For the MDX Touring in NYC I am getting $541/42m no $ down, taxes and all fees (except DMV)in pymt.
Purchase Price = $37,475
MSRP=$40k
Residual=59%
MF=.0023
Do this number sound reasonable. Base Model is $500 with a purchase price of $34,300 and Res=60%, same MF.
Thanks for your help and I'll let you know how it goes.
MSRP is $52,550, Selling Price is 46,821.
Taxes, bank Fee and 1st months payment total $4200.
12k miles per yr 39 mo lease term.
Thanks for yor help ( This is still a live issue)
36 or 39 month lease with 12K per year. Thanks as always Carman.
I am looking into assuming a lease for a 2003 Honda Element with 22 months remaining on it. I can handle the monthly payments of 286.00 and there seems to be ample mileage available (1200/m). I have never done a lease before and am wondering what kinds of questions I should be asking to make my decision. The rep at LeaseTrader told me that all their listed vehicles have closed-end leases, and he told me that Honda will simply charge $350.00 at the end of the lease. Neither LeaseTrader nor the seller are giving me much other information though. Any suggestions as to what I should be asking or any thoughts on what I have said so far? TIA
MSRP 49818
12,000 MILES/YR
48 MOS
WHAT SHOULD THE RESIDUAL BE?
WHAT'S THE IDEAL DEAL?
AND IS THERE ANY VALUE TO MAKING MORE THAN THE MIN. DEPOSIT THAT THEY REQUEST.
DRIVING THE CAR TOMORROW A.M. HELP.....
GOODMAN
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". One of our most knowledgeable community members, Terry, frequents that discussion and he is often kind enough to give community members who give him an accurate description of their vehicles with his opinion on their value. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Just about all banks that lease vehicles to consumers charge an acquisition fee. Individual dealers do not have the authority to waive or lower this charge, but in some cases they can pad it to add additional profit to deals. American Honda Finance Corp.'s base lease acquisition fee in most states is currently $595.
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Also, General Motors was not scheduled to publish its January lease program until some time yesterday. I have not had an opportunity to take a look at it yet, but should be able to within the next few days. Please post a reminder in this discussion for me in a few days with all of the informaiton that you have already mentioned plus an approximate selling price and I will be more than happy try to give you an idea of what this car's lease rate and residual value should be like and to calculate a sample lease payment on it for you. Talk to you then.
Car_man
Host
Smart Shopper Forum
I am considering either an 04 or 05 Ultimate based on lease value and buy price. I think I can pick up an 04 for $47.5K and an 05 for $50-51K. Both carry the 63K MSRP. I was wondering if you had info on 3 yr/36K residuals and money factors. The dealers have been unwilling to share. This will be my 7th lease in 5 years, and I always come within a few dollars of my target lease payment when I have current info.
Thx
thanks
I took your advice and priced out the average selling price through edmunds ($21,653)
I also noticed that you recommmend 36 months....i was leaning towards 48 months but i'll stick with 36 months right now.
Do i need to provide any other information to calculate a lease payment per month on a 2005 Jetta GLS?
I just want to get an idea of how much i really should be paying before the dealer makes me an offer.
Thanks
Kamran
It looks like Audi has sweetened the deal on these through February. Can you give me the residuals and money factors on 12k/yr for 24, 30 and 36 months? It also looks like they're offering some dealer cash or marketing support, but there's nothing on the incentives page yet. Thanks.