Lease Questions - Ask Here

CarMan@Edmunds · February 2005

Hi prince812. I still have not seen a lease program for the 2005 Toyota Avalon. Sorry that I could not be of any more help.

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CarMan@Edmunds · February 2005

Hi ajpbf7. Let me begin by saying that both Ford Credit and General Motors Acceptance Corp. publish what are known as lease rates instead of money factors for the vehicles that they lease. The following lease rates can be converted into approximate money factor equivalents by dividing them by 2400.

If you were to lease a 2005 Chevrolet Corvette Coupe through GMAC right now for 3 years with 12,000 miles per, its base lease rate and residual value should be 6.5% and 55%, respectively. The 2 year numbers for this car should be 6.5% and 62%. If you were to lease a 2005 Ford Mustang GT Coupe through Ford Credit right now for 3 years with 12,000 miles per, its base lease rate and residual value should be 7.5% and 55%, respectively. The 2 year numbers for this car should be 6.75% and 62%.

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CarMan@Edmunds · February 2005

You're welcome, caromba.

Car_man

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CarMan@Edmunds · February 2005

Hello hsp. BMW is scheduled to publish its new February lease program some time today. I should have a chance to take a look at its new program by the end of the week. Please feel free to post a reminder for me then and I will be more than happy to try to give you an idea of what the numbers should be like for the M3.

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ddelise · February 2005

Hi -

I am wondering if you can let me know the current lease programs for these two cars. I am looking for 12k miles/year, 36 months.

I am also looking for dealer/consumer incentives, and lease aquisition fee. I am coming off of a current Volvo Finance lease (in case there are any incentives for that).

If a different month program has better lease rates/residual, I would be interested in that as well.

Thanks - Damon

If

carshopper22 · February 2005

Hello,

car_man we just got an offer for an Acura RSX Auto w/ Cloth for $275 a month before taxes for 36 months, 12k miles per year; with $500 up front money for the first month and misc charges . . . is this a good/fair deal? what are others paying for the same car?

thanks.

dawnf · February 2005

Thanks for the info. Can I negotiate with them?

scott31 · February 2005

Ouch, you got nailed.

naft2717 · February 2005

Car_man,

A while ago I asked you about GM's pull-ahead program. Do you know if they are currently running the program? If so, what are the details? If not, do you know when they will be running the program next and what the details will be?

Much thanks.

hfang · February 2005

You're awesome, thanks for the help on the Boxster!

CarMan@Edmunds · February 2005

Hi trneal276. I am sorry to hear that you did not enjoy your recent shopping experience. Looking at your deal, I would say that the selling price of the Escape that you leased is a little on the high side, even after taking the money that you owed on your previous lease into account. There is a good chance that you would have been able to get this truck for less has you comparison shopped a little bit more. As far as your lease payment goes, I just played with some numbers and according to my calculations, a 2005 Ford Escape XLT 4WD leased through Ford Credit for 39 months with 15,000 miles per year should have a pre-tax monthly payment of around $315 per month, had you made a $2,000 down payment. As you can see, not only is this truck's selling price a little high, its lease payment looks to be a little high as well. There really is nothing that you can do about this now. Chalk it up as a learning experience and thoroughly research the vehicle that you want beforehand next time.

Car_man

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CarMan@Edmunds · February 2005

You're very welcome, seacarfan.

Car_man

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CarMan@Edmunds · February 2005

Greetings chrisbeau. Nissan just introduced its new February lease program late yesterday and I have not had an opportunity to take a close look at it yet. Please post a reminder stating the info that you are looking for in this discussion for me in a few days and I will be more than happy to try to give you an idea of what this truck's new lease program is like.

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CarMan@Edmunds · February 2005

Hi joec1210. Most consumers lease vehicles for around 3 years, or 36 months, although longer leases definitely seem to have gained in popularity lately. For now, I will estimate what a lease payment for you on a 39 month lease of this truck with 12,000 miles per year. Always remember that the selling prices of leased vehicles are negotiable. For now I will assume that you are getting a $1,000 discount off of this car's full MSRP. If you are able to negotiate a larger discount than this, this car's lease payment would be lower. You may want to stop by the following discussion to get a better idea of how much RX330s are selling for in your area right now: "Lexus RX 330: Prices Paid & Buying Experience". OK, now let's play with some numbers. According to my calculations, if you were to lease a 2005 Lexus RX 330 4WD with navigation, but without the rear entertainment system with an MSRP of $44,833 and a selling price of $43,833 through Lexus Financial Services right now for 39 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $613.

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CarMan@Edmunds · February 2005

Hi carshopper22. I would be happy to give you my opinion of this lease, but it would be a big help if you would provide me with this car's full MSRP and selling price first. You can find its MSRP by asking the dealer that you are working with or by looking it up in the Edmunds.com New Vehicle Pricing Section. In order to find out the exact selling price of this car, you need to ask this dealer, but you may be bale to get an idea of what others are paying for it by visiting the following discussion: "Acura RSX: Prices Paid & Buying Experience". Let me know and I will be more than happy to work up a sample lease payment on this car that you can compare to the one that you have been quoted.

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CarMan@Edmunds · February 2005

Hey Damon. In order to give you an idea of what these car's current lease programs are like, I need you to be a little more specific about the exact trim levels that you want, i.e. a 2005 Volvo S40 T5 AWD, a 2005 Volvo V50 2.4i, etc... Let me know and I will let you know.

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CarMan@Edmunds · February 2005

You're welcome, dawnf. While some banks will negotiate the lease-end purchase prices of vehicles a month or two before leases are scheduled to end, I highly doubt that Toyota Financial Services, or whichever bank you are leasing this car through, will be willing to negotiate with you so many months before the scheduled end of this lease.

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CarMan@Edmunds · February 2005

Hi naft2717. General Motors just announced its new February incentives yesterday. As of right now, I do not believe that it is running an early lease termination program. However, there is always a chance that it will introduce one later on this month. It is difficult to say exactly when or if GM will reintroduce this program.

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CarMan@Edmunds · February 2005

You're welcome, hfang. I am glad that I was able to help you out.

Car_man

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bebe2 · February 2005

I recently went to purchase a hybird honda civic and was told that I couldn't purchase the vehicle. They said I had to lease the vehicle, so I did, come to find out this was not true. I filed a complaint about them and did some checking up on them, come to find out they have done this several times before. A friend of mine recently send me a Car buying IQ test http://209.12.22.19/alice/cartest/ and I received a low score. This proves that I didn't know what I was doing. My rip off is over but how do we stop other people from falling in the same trap.

ddelise · February 2005

Hi Car_Man -

Sorry about that.

I am interested in the following:

Base S40, S40 T5 (no AWD), base V50, V50 T5.

Only reason I am also interested in the T5 models is I heard they may have better lease figures which might make leasing one barely more expensive than a base engine version.

Thanks Again - Damon

eanderson · February 2005

Can you tell me what the estimate residual value would be for a Saab 9-3 Linear for a 24 month and 36 month lease. Also do you know of any lease specials for Feb.

sp_martin · February 2005

I am getting ready to purchase a 2005 Toyota Tacoma 4 door. I have never leased, but am considering. THe msrp is $24,265. The purcahse price is $22065. I definitely want to own the car, but I don't quite have the down payment I would like. Would it be wise to even considering leasing?

THanks

mazda04rx8 · February 2005

Hi Car Man,

I am interested in either purchasing or leasing my fourth RX8 for my son. Do you have the current lease or rebate information for both the 2004 and 2005 models. Thanks for your help.

seabone · February 2005

hi - just wanted to pass along that chrysler is currently offering a subsidized lease on the 05 pacifica for $239 per month for 39 months 12k per year.

lycanthris · February 2005

Still interested in leasing an 04 or 05 G35 sedan. Wanted to know current MF and residuals for each at 24/15k and 36/15k. Thanks so much for all of your help!

stalnaker · February 2005

Car_Man,

After comparing several Acura, Audi, Infiniti, and Lexus vehicles; I am really starting to lean towards the Lexus ES330 as my next car.

Tom Wood Lexus in Indianapolis, IN, has quoted me the following leases prices. These are for the base ES330 with the Premium Package added (MSRP: $35,419.00. These leases are for nothing down except first payment, security, and acquisition:

36 months/12K miles: $471/month + tax

42 months/12K miles: $458/month + tax

Are these good prices? I'm not sure of my exact credit rating, but I think it's around 730. I always pay my bills on time, don't carry a credit card balance, etc. But I'm not sure if I would qualify for Tier 1+ credit or not.

Basically I want to know what I should expect to pay for a lease with the following terms:

36 months/12K miles

36 months/15K miles

48 months/12K miles

Would you be able to run those numbers for me?

Thanks a bunch!

Ernest

stalnaker · February 2005

Car_Man,

Also, could you give me the residuals for those terms and give me some guidelines to help me determine what credit tier I would qualify for?

Thanks again,

Ernest

CarMan@Edmunds · February 2005

No problem, Damon. Thanks for the additional information. Here is the info that you are looking for. According to the latest information that I have seen, if you were to lease a 2005 Volvo Base S40 with an automatic transmission through Volvo Finance right now for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00018 and 54%. The numbers for otherwise identical leases of the 2005 Volvo S40 T5, base V50, and V50 T5 would have money factors and residuals of .00185 / 53%, .00052 / 56%, and .00185 / 56%. While Volvo does have loyalty cash on some models this month, it does not have any on the S40 or V50. It does not have any dealer cash that is compatible with the aforementioned lease programs either.

Car_man

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CarMan@Edmunds · February 2005

Hi eanderson. Saab is providing lease support on the 2005 9-3 Linear this month. I would be more than happy to calculate a sample lease payment on one for you, however in order for me to do so I need you to provide me with the full MSRP, including destination charges, and the selling price of the exact model that you want. If you are not sure what this car's selling price will be, at least provide me with its invoice price and I can estimate a selling price for you. You can find these numbers in the New Vehicle Pricing section of this site. As far as this car's residual values go, if you were to lease one through Saab Financial Services Corp. in February for 2 years with 15,000 miles per, its residual should be 56%. The residual for an otherwise identical 3 year lease should be 46%.

Car_man

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CarMan@Edmunds · February 2005

Hi sp_martin. Toyota is not currently providing any sort of lease support on the 2005 Tacoma. As a result, if you were to lease one through Toyota Financial Services, you would have to use its standard lease program. I haven't seen its standard lease money factors lately, but the last time that I saw its standard program its base money factor was something like .00225 for consumers who qualify for its Tier 1 credit tier. This is equivalent to an interest rate of around 5.4%. Given this decent lease money factor and fairly attractive residual values the 2005 Tacoma is an OK vehicle to lease, but it is certainly nothing to get excited about. Toyota's lease program on the Tundra is much much better. In summary, there's nothing wrong with leasing a Tacoma right now, but you definitely don't need to go out of your way to do so.

Car_man

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ddelise · February 2005

Thanks Car_Man for the information. Just to be clear - it looks like the money factor on the S40 T5 is about 10x's more than the money factor on the base S40. I want to make sure there aren't any missing zeroes!

Thanks Again - Damon

iwantasaturn · February 2005

Hi Car_man-

Can you please tell me what the February money factor (or interest rate) would be on the lease of a '05 Saturn Vue? I would like to lease this car for 3 years and 36k miles. Last month the interest rate was 2.09%.

Also, can you please tell me what incentives are currently available?

Lastly, I heard that the residual is up to 61% on this car, as of 2/1/05. Can you please confirm?

Thanks in advance Car_man!

twoof1 · February 2005

car_man,

I was wondering if you could supply me with the money factor and residual through Ford Financial for a 2005 Ford Freestyle Limited FWD based on the following factors:

36 month, 12,000 mile per year lease with a FICO score of 770

My dealer is quoting me a money factor of .00125 (3%) which does not sound bad however he is quoting a residual of 54%. I read in the following post dbauer, "Real-World Trade-In Values" #23838, 21 Dec 2004 9:15 am

that Ford is offering a 62% residual. Just wondering if you have any insight into this?

coby03 · February 2005

Car_man,

Any information on the current money factor and residual value for the 300C RWD, 3 year/12k per year lease? Thanks.

mitchs3 · February 2005

Hi Carman... I am interested in leasing a 2005 BMW 330i sedan. Do you have the residual and MF, their "buy" best rate, for this vehicle for 36 months 10k and 12k miles per year. Also I heard that there was $3,800 dealer cash last month on this car..Still available? I'm not sure I want to wait till the 06 comes out and this may be a great opportunity to get the fully evolved car..Thanks

jumpmaster · February 2005

Car Man--

Looking to lease a Honda Odyssey here in Texas. Trim is EX with leather. Term = 36 months; 12K miles per year. Selling price is $28500. What is the money factor and residual? I want to get my estimates before I walk into the dealership. THANKS!

qbrozen · February 2005

not only that, but why is the base V50 money factor half of the others?

jim53 · February 2005

Hi Car_Man. Do you know yet if there were any changes to BMWFS's lease package for February. I am looking at 36 months, 10K per year. Do they have a 39 month option?

smbass · February 2005

Hi Car_Man,

Could you please provide the residual value %s and money factors for 36 mos/15k per year leases on the following vehicles?

1) 2005 Saab 9-5 Aero

2) 2005 Saab 9-3 Arc Convertible

Are there any additional cash incentives in Feb?

Thank you!

00boxsters · February 2005

Hello and thanks in advance Car Man!

The list price for the Lexus 2006 GS300awd has been announced. Since it is unlikely to be discounted for the next six months or so I would presume list will be the cap cost. ($52,500 and using February Lexus lease numbers.)

If I wanted to lease it for 36 months with 12K miles per year what is the payment with tax included/month in Pennsylvania?

stalnaker · February 2005

Car_man,

Although I'm still leaning towards a Lexus ES330 as my next car, a nearby Infiniti dealer has made me an offer that I might be tempted to take on a 2004 G35x with the Premium Package. Here are the numbers:

Term: 36 months/15,000 miles per year

MSRP: $36,070.00

Selling price: $33,125.00

Residual: 57%

Money factor: 0.00162845

Nothing down except first payment and acquisition (he is waiving the security deposit)

Monthly payment: $417.00 + tax

Is this a good deal, or should I try to talk him down further? Is the money factor and residual correct?

Thanks a bunch!

Ernest

kyfdx · February 2005

Just my $0.02...

$417 + tax for a 3yr/45K lease on any car that MSRPs for $36K is a steal... the fact that it is a nice car like the G35 is just gravy..

If you were buying, I'd say that the selling price is too high for an '04 model.. but, since you are leasing, not a problem.

regards,

kyfdx

(not the expert)

jlg008 · February 2005

Dealer I thought gave me good price. bUT LOOKING AT IT CAREFULLY I DON'T THINK SO. HELP!!

Here it is:

Base Price:$33,195

PP 1640

CWP 685

Folding Mirrors 230

Destination 695

color 0

(if Metalic Paint 430)

THEN HE ADDS!!

.......profit 750

Total Cost ....$36,645

(add $430 if metalic paint)

NY MVD $155

Doc fees $173.50

plus Nassau COUNTY tax 8,50%

to lease he gives me this scenario:

(based on him giving me the following figures with sales tax of 8.625% NOT 8,50%)

Mthly payment of $489.06 reflects metallic paint and includes the price (plus $750 profit $37,825 invoice, and MSRP $40,270

very confusing here.

security deposit $500.00

Bank fee $900.00

MVD Fee $155.00

Doc Fee $173.50

Tax $1,51853

TOTAL DRIVE OFF $37,036.09

YIKES!!!!! IT SEEMS TO ME THAT THERE ARE MARK UP FEES HERE. ANYONE GIVE ME THE REAL NUMBERS HERE FOR THE LEASE.??? I INDICATED TO THE DEALER THAT IT HAD TO BE BASE LEASE OF .00125 MONEY FACTOR AT 57% RESIDUAL 3YR/45K (15 CENTS PENALTY PER MILE)AND NO OTHER "ADDITIONAL DEALER MARK UP FEES" Upon delivery of vehicle out of pocket I WILL ONLY PAY 1ST MTH/TAXES AND MVD FEES.
I will not finance any of those fees. But still confused as to how to figure it out. I thought I was just leasing on the dealer quote agreed upon.!!!!

PLEASE GIVE ME BREAKDOWN - THANKS MUCH!

By the way, the bank fee, security fee, doc fee are excessive. I leased a MB350 and looking at my lease contract there is no security fee, and the doc fee is $20.00,MV fee for first years title, license and reg fee of $27.75, and acquisition fee (same as bank fee )of $595.00. Sales tax was $1908.37 So out of pocket was a total of $3,111.54. This vehicle was more $ too. The dealer is waiting for my email reply, but I want to reply with real knowledge. If I start with $36,875 (which includes metallic paint) I don't want to finance the other fees. What would my numbers look like then? Thanks again, I hope I didn't sound to convoluted. Please hurry and email me.or answer this message board.

coby03 · February 2005

Car_man,

Another one for you. What is the MF and RV for this vehicle at 36 and 42 month lease programs (12K per year)? Thanks as always!

cwestfall · February 2005

How long does one have to unwind a leased vehicle? I leased an 05 Jetta GLS on Saturday and it has been in the shop for 3 of the 5 days and it will be there longer due to a camshaft adjustment valve problem and no parts in the country. I spoke with the owner of the dealership and I want to know what rights I might have to simply get another vehicle. Thanks

spingrinder · February 2005

Carman - I've got lease quotes from a dealer as follows for a 2005 TL w/navi:

Invoice (refuses to move off) + aquisition = $35065 12k per year

36 mo.

0.00190 money factor

58% residual

48 mo

0.00175 money factor

49% residual

Are these numbers reasonable? Thanks for any help.

bottl3 · February 2005

Hi Car_Man. Subaru is running a leasing promotion right now for all their vehicles. I'm specifically interested in the WRX. It looks like this:

2005 Impreza WRX Sedan (excludes STi) are eligible for a special sign and drive lease. $0 first payment, $0 down, $0 due at signing.

12,000 miles a year, $.15 per mile over limit.

Models Monthly

Payment

2005 Impreza WRX Sedan (excludes STi) (5JE) Manual Transmission $305

Taxes, title, license, and registration fees extra. Dealer participation may affect final price. See your participating dealer for details.

For special leasing deals like the above, is it necessary to work the car down to the lowest selling price and then go from there? I would think probably not, but I know the tax would be different if they were working from the sticker and I was working from an agreed price. What do you think?

trneal276 · February 2005

Car_man,

I appreciate your reply, and there is no point crying over spilled milk. I made a few mistakes, but I think the #1 and 2 mistakes was going back to the same salesman and going back to Ford period. I should have gone to a few other manufacturers, Nissan, GM, etc. As you get older, you definitely get wiser. If I do decide to lease again in 3 years, I will most defintely be more the wiser and will comparison shop and not be some damn anxious. You live and you learn. I am tempted to call my salesman and give him a huge piece of my mind, but can I really be upset with him? It's a job for him, nothing more, nothing less.

on another note, can rebate $$ be used to pay the taxes, tags, etc. I know in NY, leasees are required to pay the tax on the entire car now.

CarMan@Edmunds · February 2005

Hey mazda04rx8. Did you say that you are going on your fourth Mazda RX8?!?! You certainly have earned your screen name

. If you were to lease a 2005 RX8 through Mazda's captive finance company right now, you would be able to take advantage of $1,000 customer and $1,000 dealer lease cash ($2,000) to help you negotiate an attractive capitalized cost. I am not aware of any lease cash that is available on the 2004 version of this car. Mazda is not currently providing any lease money factor support on the RX8. So if you were to lease one through its captive finance company, you would have to use its standard lease program, which I have not seen lately. Sorry that I could not be of more help with that aspect of your deal.

Car_man

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