Lease Questions - Ask Here

cmks02 · February 2005

Thanks for your assistance!!

Also working on another deal for the same car, same MSRP, same terms, but a sell price of $31,919 and $396/mo for 48 months.

rttexas · February 2005

Dear Car_Man:

I'm within 90 days of the lease expiration on my 2001 Audi TT. Which means I can trade it in on another Audi lease without any sort of early termination penalties. However, right now, there seem to be no incentives available from Audi on any cars other than the A4 1.8/3.0 Special Editions. My salesperson said this month's numbers (residuals, money factors, etc.) are the same as last month and not to expect any program changes until next month. Do you have any insight into the March (or beyond) residuals and money factors for both 2004 and 2005 S4s?

Thank you much!

RTrip

bstreet · February 2005

Just wanted to thank you both for your excellent information and help! This board, an your help, is invaluable to me.
becky

tal · February 2005

2005 BMW 330i

Jet Black

Sand Leather

Automatic Transmission

Premium Package

MSRP $39,870

Selling Price $34,320

Term (Months) 36

Mileage Per Year15000

Residual 53

Money Factor 0.00225

Residual 53%

Monthly Payment (pre tax) $491.12

Tax on Payment $34.38

Total Monthly Payment $525.50

Total Due at Signing $2,151.16

Total at signing breaksdown as follows:

Break Down of Money Due at Signing

$64.16 Sales on Taxable Items

$161.50 License Fee

$525.50 First Months Payment

$550.00 Security Deposit

$625.00 Lease Acquisition Fee

$225.00 Documentary Fee

$2,151.16 Total Due at Signing

Is this a good deal?

kyfdx · February 2005

Invoice minus incentive on this car is $32,750.. Your selling price is $1795 over invoice..

($34,320 + 225 doc fee).

While I feel that is about $600-$1000 too high, the rest of your deal is perfect... The residual, money factor and acquisition fee are all the base rates...

And, when doing the calculation, I get the same lease payment to the penny..

And.. of course.. that is only my opinion about the selling price.. That might be rock-bottom for your dealer... All in all... this is the best lease quote you have received.. If you are happy with the selling price, and that particular car, I see no reason not to go ahead with the deal.

regards,

kyfdx

(not the expert)

richpost · February 2005

I have a 2000 Chrysler 300M with 42,000 mies in good condition coming to lease end of April 2005. The residual value is just over $13,000. I called the bank and they used the black book and said they would go below the residual and offer me the car for $10,000. Their best deal they tell me. I made a bad deal on the car with a not so reputable Chrysler dealer in my city and have already over a 5 year lease spent $32,000 for the car. I like the car and can handle buying the car outright, just not crazy about investing another 10 grand but on the other hand do not want to get into a new one where the only cars I like are close to $30,000. Cut my losses and chalk up the experience and keep this car???

thanks

rxke · February 2005

Hi Car Man

You have been very helpful in the past with leasing numbers. I am looking to lease one of the following cars at the end of March, begining of April but many manufacturers are no longer leasing in NY. Are any of the following leasing in NY: Audi, Acura, Lexus, Infiniti? I am looking at 2006 A6AWD, GS 300 AWD, M35AWD, and the RL?

Thanks for your help.

vishpool · February 2005

Hello again,

Just got the following offer:

"The MSRP of the 2005 Infiniti is $48,430. We are willing to sell this vehicle for $44,806.

For 36 months, 15000 miles your payment with $3693.56 down is $593.26.

Fees:

$129 Documentation Fee

$2240.30 5% Maryland Tax

$181 Maryland Tags

$593.26 1st month payment

$550 Bank Fee

Does this sound good to you? I don't know about the down payment, seems kinda high. I have the option to combine the tax with the payments, right?

The lease price sounds about $1000 over invoice. This is their first offer. How low do you think I should push it to?

Thanks Car_man!

tal · February 2005

is that the invoice of just the vehicle or with the options i mentioned?

bodble2 · February 2005

I'm new to leasing, and I'm sure this has been asked before -- somewhere, but I don't have enough time to go thru 16,840 posts! I think I've read somewhere that the general rule of thunb is to put as little down as possible. Can anyone tell me, in 100 words or less, the rationale for this? And a related question is: do you generally have to break the dealer's arm to get a zero-down lease?

vishpool · February 2005

Also, (hope I am not annoying you too much

), question about '04 FX45...

do you know how much a '04 FX45 with premium and tech, etc. is going for at this time? How much below invoice?



MSRP is $51,965 for my config.



Here is an intial offer from a dealer:

"msrp is $52865.00 cap cost is $48800.00

money factor is .00101 which includes .00015 to waive security deposit. residual is 56% of msrp or $29604.40 for 15000 miles. 36 months x 15000 per year = 687.57 with 687.57 on delivery."



I can't seem to figure out how he even got to the 687 price. Too tricky for me. Help me out here, please!

hpowders · February 2005

Hello Car_Man. Need the residual and money factor for a 2005 BMW X5 4.4. 3 years, 36,000 miles.

Thank you.

CarMan@Edmunds · February 2005

Hey dkjr. I made some calls and was able to find out what Volkswagen's lease program on the 2005 Touareg is like for you. If you were to lease a 2005 VW Touareg through VW Credit right now for 4 years with 12,000 miles per, its base lease money factor and residual value should be .00122 and 48%, respectively. Using these numbers, an MSRP of $38,350 and a selling price of $32,500 (which would be a heck of a deal if you could actually get a dealer to sell you one at that price), I come up with a zero down, pre-tax monthly payment of right around $368. You can compare this payment to the one that you were quoted.

Car_man

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CarMan@Edmunds · February 2005

Here you go, rodist. According to the latest informaiton that I have seen, if you were to lease a 2005 BMW 325cic through BMW Financial Services right now for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00150 and 62%, respectively. The numbers for an otherwise identical lease of a 2005 BMW 330i should be .00225 and 55% with $3,800 dealer cash that will help you to negotiate an attractive selling price. Lastly, the numbers for an otherwise identical lease of a 2005 BMW 330ci should be .00080 and 60%.

Car_man

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CarMan@Edmunds · February 2005

Hey tal. Given the fact that BMW is currently providing $3,800 dealer cash on the 2005 330i, I suspect that you should be able to negotiate an even lower selling price than the one that you were quoted. You may want to stop by the following discussion to see how much other community members have paid for similar cars lately: "BMW 3-Series: Prices Paid & Buying Experience". For now I will calculate a sample lease payment on this car for you using the price that you mentioned in your post. According to my calculations, if you were to lease a 2005 BMW 330i with an MSRP of $39,870 and a selling price of $34,820 through BMW Financial Services right now for 3 years with 15,000 miles per, your zero down, pre-tax monthly payment should be right around $507. I used a lease money factor of .00225 and a residual value of 53% to arrive at this payment. At lease signing, you would have to pay this car's first month's payment of $507, a security deposit of $550, and BMW FS' acquisition fee of $625 (in every state but New York).

Car_man

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CarMan@Edmunds · February 2005

Greetings salamon. Let's work up a payment on this truck for you and see what we come up with. According to my calculations, if you were to lease a 2005 Acura MDX (non-Touring and without navigation or the rear entertainment system) with an MSRP of $37,270 and a selling price of $34,732 through American Honda Finance Corp. for 3 years with 15,000 miles per, your zero down, pre-tax monthly payment should be around $437.

Car_man

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CarMan@Edmunds · February 2005

You're welcome, vishpool. I thought that we were talking about the 2005 Infiniti FX35 AWD. This vehicle's (the 2005 model) 3 year, 12,000 miles per base lease money factor and residual value are currently .00179 and 60%, respectively. The numbers for an otherwise identical lease of a 2004 model should be .00163 and 58%.

In addition to the $550 lease acquisition fee that Infiniti Financial Charges at lease signing (this fee is a little higher in some states) it also charges a disposition fee, or lease termination fee. I believe that IFS' disposition fee is currently $350. Many banks will waive this charge if you lease another vehicle through them. At lease signing, most consumers only have to pay their vehicle's first month's payment, security deposit, acquisition fee, and any required state taxes or fees.

I would be more than happy to work up a sample 39 month lease payment on this vehicle for you. What MSRP and selling price do you want me to base my calculations on?

Car_man

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CarMan@Edmunds · February 2005

Hey Damon. General Motors Acceptance Corp. publishes what are known as lease rates instead of money factors for the vehicles that it leases. You can convert its lease rates into approximate money factor equivalents by dividing them by 2400. If you were to lease a 2005 Chevrolet Cobalt LT through GMAC right now for 3 years with 12,000 miles per year, its base lease rate and residual value should be 3.5% and 57%, respectively. GM is currently providing $900 lease cash on this car that will help you to negotiate an attractive selling price if you lease one through GMAC.

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CarMan@Edmunds · February 2005

Ernest, the selling prices for these cars look reasonable to me. IFS' 3 year, 15,000 miles per base lease money factor and residual value for the 2005 and 2004 G35 AWD Sedan should be .00172 / 58% and .00147 / 57%, both assuming that you pay a security deposit. I personally always pay a security deposit rather than have my vehicle's money factor increased because you get the deposit back at lease end, but you never get back the additional money that you are paying per month. Of course, one could go into all sorts of calculations about the present value of money, etc... but for a couple hundred dollars, I would rather just pay the deposit and get it back.

Car_man

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vishpool · February 2005

Thanks Car_man,

Sorry about the confusion. At this point, I am thinking about '05 FX35 OR '04 FX45 - from what I can tell, with a good neg, both of them should be a similar deal....so, could you run the #s for me, please?

1) '05 FX35 AWD

Your Calcuation:

"MSRP of $46,110 and a selling price of $42,421 through Infiniti Financial Services for 3 years with 15,000 miles per, your zero down, pre-tax monthly payment should be around $548."

2) '04 FX45 - here's where I need your help

An intial offer from a dealer:

"MSRP is $52865.00, cap cost is $48800.00, money factor is .00101 which includes .00015 to waive security deposit. residual is 56% of msrp or $29604.40 for 15000 miles. 36 months x 15000 per year = 687.57 with 687.57 on delivery."



I can't seem to figure out how he even got to the 687 price. Too tricky for me. Help me out here, please! Apparently, the dealer is offering a lower mf than the .00163.

Also, do you know how much a '04 FX45 with premium and tech, etc. is going for at this time? I mean, how much below invoice should I expect to pay? I have read thru the FX35/45 Prices Paid thread, and saw a post about someone paying around $46.2k. Could you please analyze this and let me know if this might be a fair play at this moment for an '04. Also, could you run some lease #s from this deal.

"MSRP/Sticker = ~$53k, Invoice = $48.3k, TMV = $49.2k. There is a $1500 below invoice incentive on all purchased 2004 FX45's through the end of November, but I had read numerous accounts on another board that dealers in "high competition areas" (such as SoCal) were discounting $2500 off invoice at the drop of a hat. This dealership was motivated to sell, I think; the lot was so jam-packed with 05's he couldn't get the FX I wanted out for a test-drive. (I had to test-drive another.) It wasn't until two hours later that they were able to get "mine" out so I could take it for a 'sanity spin' before pulling the trigger.



Cap Cost was ~$46.2k. I bargained him downward by explaining to him why nobody in their right mind would pay invoice on a car that would be 1 year old in six weeks, and promising to finance through them. Downpayment was $1999 but ~$700 of that went towards "stuff" (title, registration, California 'tire tax', etc) so only $1300 went towards the lease. Final lease price was ~$44.9k. Residual was 50% (an exact $23k). Money factor equated to 2.1%.



Ok, so here are the exact numbers from my monthly payment stub: Monthly payment on depreciation is $456.17, the monthly lease fee is $59.41, so the final monthly w/o tax is $515.18. Monthly tax/usage fee is $42.53 (Based on 8.25% tax rate). My total monthly bill is $558.11. "

Again, THANK YOU SO MUCH!

nadia · February 2005

Hi Car Man,

I would appreciate your imput. I would like to lease this 2004 mercedes E320 RWD wagon.

MSRP $52990.00

Cap. cost $4480.00

Residual 28614.00

money factor .00285

lease term is 39 months 15000 miles/yr.

Payment is 703.00/month including tax

Due at signing 1st month pmt + tag,title=$750.00

the financing is through MBCC.

The acquistion fee is $895.00. Is this a typical acquistion fee for MB or is that high. Also I feel the money factor is high. But the car is a 2004, it is new untitled with 170 miles on odometer. I am told by the dealership that is the best money factor available on 2004's. My beacon score is 775. I have gone and gotten emotional about this car....hehehe. Car fever! I would appreciate your comment.

Thanks!

gwudc · February 2005

Car_Man,

I am interested in a 2005 Infiniti G35 coupe, automatic, non-navigation, with the premium package.

Based on the pricing information below, I was wondering if you could provide me with the following information for a lease term of:

a) 36 months

b) 39 months

c) 42 months

1) Current Residual Rates for a 12,000 mile per year lease.

2) Current Money Factor(s) for a 12,000 mile per year lease.

3) Estimated payments (using the pricing information below) and assuming $0.00 down except for first month's payment.

Pricing Information:

MSRP: $35,610

Selling Price: $32,918

Thanks so much for all of your help. Your advice in this forum is great and very helpful!

rxke · February 2005

Hi CarMan

Could you provide me with the residuals, money factors and any other info I need to figure out the montly lease on the following vehicles:

Acura RL 2006

Audi A6 Quattro 3.2 2005

Infiniti M35AWD 2006

Lexus GS 300AWD 2006

I would need 15,000 miles per year for 39 (or 42 whichever they do) or 48 months. I live in NY.

Thanks for your help.

ereynihc · February 2005

car_man,

I am sending you a friendly reminder for this request. can we comapre the best lease deal on the 2004 FX35 demo car ($35,777-MSRP), and new 2005 leases? I'm looking for 3 years, 15K. Thanks so much

cdb1 · February 2005

I'm interested in leasing an '05 Honda Accord EX V6 6-speed in Silver. Only problem is, there is only one in my area and it's a dealer demo with approx. 1500 miles on it. They've added a spoiler, rain and splash guards and wheel locks. The dealer said he would give me $9900 for my trade ('00 Civic Si, 46k miles, great condition, $7100 left on loan) making the lease payments $336 for 36 mo's with 12k mi/yr. I thought that was high considering it's on a demo and with $2800 down. I asked for a worksheet and entered his #'s into your lease calculator and came out with a monthly payment of around $248. How can his payment be almost $100 more? Is he adding some hidden fee or just pocketing the extra cash? How much does a vehicle depreciate within a 3-4 month period, in other words, how much should he come down off the msrp on the demo?

sulimios · February 2005

what is the current residual and money factor on the audi tt 225 hp coupe. 36 mos/ 15k yr

The dealer quoted me MSRP of $39,670. Vehicle price of $38,100. With first payment, taxes and tags (approx. $2302) down and a payment of $563.

I thought the residual was 51% and the money factor was .00075, but payment seems high?!

thanks.

jkr2 · February 2005

Car Man,

You may have overlooked my response to your request for additional information on Audi A4. Here are the details on the vehicle I am looking for:

Audi A4 1.8T Special Edition AWD Automatic

Metallic Paint

Special Edition Package

Cold Weather Package

Destination Charge

MSRP: $32,370

Invoice (using Edmunds information): $30,123

Selling Price: $31,070 ($1,300 off of MSRP).

36 months Premier Purchase (should be similar to lease financially, according to the salesman, except no acquisition fee and security deposit required) with 15k miles per year.

I was also wondering if you have leasing details (lease factor and residual) on the A4 3.0 CVT Special Edition and A4 3.0 AWD Automatic Special Edition.

Thanks so much.

cbc · February 2005

What is the best way to research current lease promotions applicable to east central Florida? I prefer to shop by price: no money down/15,000 miles per year/$400 month/36-39 months. Must I check each manufacturer's website or are lease promotions summarized "somewhere"? Do you know of any great lease deals on 4 door sedan model no smaller than Lincoln LS?

ctdw · February 2005

I am looking for the 05 Audi A6 4.2 3yr 15K money factor and residual.

jeff a · February 2005

Car Man - hoping you can help...

I'm interested in leasing a 2005 Acura MDX with the navigation system and the rear seat entertainment option. I would like a 2 or 3 year lease, with 20,000 miles a year. What would be an estimate on a payment with $2000 down? Would it make more sense to buy with my driving needs?

Thank you.

coby03 · February 2005

Car_man,

Still searching! I test drove a 330Ci today and was very impressed. I asked the salesman to work up some numbers on a 3yr/36K lease for a 330Ci with 6 speed/premium/sport/cold weather pkg/metallic. MSRP $42020, Sales Price $40000 (about $1500 over invoice). The lease payment quoted to me was $500/mo. At the MF of 0.0008 and Residual of 60% you provided, I calculate the lease payment should be $463/mo. Am I missing something? Thanks as always for your great insight!

ken5 · February 2005

Using lease calculators I've found, what I'm being quoted on the Dodge web site and also by the dealer seems high. MSRP is $39465, cap cost is $34439 with $1K reduction for leasing wth CF. Dealer is quoting me 39 months 12 miles for $660.

carbert · February 2005

I'm interested in hearing thoughts on a paid-in-full lease. The goal would be to minimize finance costs, while maximizing any tax reduction.

For any lease specifications, there is some capital cost reduction, call it 'x', which would lead to monthly payments of zero. My thought would be to negotiate a lease with a capital cost reduction of zero, and a single three year lease payment of 'x' (or 36 lease payments of x/36, paid at signing).

Any thoughts? Is this a crazy idea? A stupid idea? Ever heard of anything like this?

car_man?

CarMan@Edmunds · February 2005

No problem, jkr2. Let's take a look at the lease program for the car that you are interested in. If you were to lease a 2005 Audi A4 1.8T AWD Special Edition through Audi Financial Services right now for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00025 an 56%, respectively. The numbers for an otherwise identical lease of a 2005 Audi A4 3.0 2WD Special Edition should be .00030 and 53%. The numbers for an otherwise identical lease of a 2005 Audi A4 3.0 quattro Special Edition should be .00025 and 53%.

Using the above numbers, I estimate that a 2005 Audi A4 1.8T AWD Special Edition with an MSRP of $32,370 and a selling price of $31,070 (I suspect that you may be able to do better than $1,300 off MSRP), I come up with a 3 year, 15,000 miles per, zero down, pre-tax lease payment of around $372.

Car_man

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cjsot · February 2005

Carman

Is there a way to compare these two leases???

Msrp is 80370 selling price 74700 with a MF .00125 36 @10k with payment at 945 with 1800 in fees and stuff.

The other is a BMW lease deal that start on the 7th which is 799/mth with3500 down 10k mileage and 5099 due at signing

Which is the better deal?????

CarMan@Edmunds · February 2005

You're very welcome, lycanthris. You are correct, Infiniti's current lease program is only scheduled to run through February 28th. Infiniti's and Nissan's lease programs typically only run for one month at a time.

Car_man

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CarMan@Edmunds · February 2005

You're welcome, cmks02.

Car_man

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CarMan@Edmunds · February 2005

Hi rttexas. Audi is actually providing a decent amount of lease support on the 2005 S4 Sedan. Its current base lease money factor for this car is .00065, which is equivelent to an interest rate of around 1.56%. It is not currently providing any sort of dealer cash on this car though. It is difficult to say what Audi will do with its future lease program for this car. If I had to make an educated guess, I would say that it will probably stay about the same for the next month or two.

Car_man

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CarMan@Edmunds · February 2005

OK, tal, so you were offered a 2005 BMW 330i with an MSRP of $39,870 for a price of $34,320. After adding back the $3,800 dealer cash that BMW is providing on this car to the selling price, you are getting a discount of $1,750 on this car. A base 2005 BMW 330i has a round a $3,000 spread between its MSRP and dealer invoice prices. The price that you were quoted is decent, but there is a very good chance that would be able to beat it by shopping around if there is a decent level of competition for your business in your area. The money factor and residual value that you were quoted are right on the money.

Car_man

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rttexas · February 2005

Thanks Car_Man - You're the best!

BTW... my dealer said that the .00065 MF expired last month - I'll ask him to double check that. Also, if you have the residuals available on 36/39 month leases, would you please share those? Thanks!

RT

CarMan@Edmunds · February 2005

Hey rxke. I am glad that I have been able to help you out in the past. While some manufacturers' captive finance companies have stopped leasing vehicles in New York, the ones that have have replaced their lease programs for that state with very similar balloon note programs. As a result, you should be able to get a lease or a balloon note on just about any vehicle. The specific brands that you mentioned, Acura, Audi, Lexus, and Infiniti all still lease vehicles to residents of New York. They charge a higher lease acquisition fee to consumers who live in that state than they do for the rest of the country though.

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CarMan@Edmunds · February 2005

Hello again vishpool. Let me begin by saying that 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 FX35 would be exactly the same, regardless of whether you had put over $3,500 down, or had made absolutely no down payment at all.

I will work up a zero down lease payment on this truck for based upon the prices that you were quoted. According to my calculations, if you were to lease a 2005 Infiniti FX35 AWD with an MSRP of $48,430 and a selling price of $44,806 (which looks reasonable to me, but may be able to be beaten) through Infiniti Financial Services right now for 3 years with 15,000 miles per, your zero down, pre-tax monthly payment should be around $583.

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CarMan@Edmunds · February 2005

Hi bodble2. 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 the vehicle that you are getting would be exactly the same, regardless of whether you had put $5,000 down, or had made absolutely no down payment at all. Consumers are free to lease any vehicle that they want without making any sort of capitalized cost reduction, so you should not have to haggle with your dealer very much to lease a vehicle without any money down.

Car_man

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CarMan@Edmunds · February 2005

Vishpool, I am not personally all that familiar with what the market is like for this vehicle right now, but you may be able to get an idea by visiting the following discussion here at Edmunds.com: "Infiniti FX45 / FX35: Prices Paid & Buying Experience".

Car_man

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CarMan@Edmunds · February 2005

Hey hpowders. Here is the information that you are looking for. According to the latest information that I have seen, if you were to lease a 2005 BMW X5 4.4 through BMW Financial Services for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00125 and 60%, respectively.

Car_man

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CarMan@Edmunds · February 2005

Hi nadia. In your post you stated that the 2004 Mercedes-Benz E320 Sedan that you are interested in has an MSRP of $52,990 and a Cap. cost of "$4480." It sounds like you are getting one heck of a deal on this car. The price that you were quoted is over $48,000 off the full MSRP

. I assume that you meant the cap cost is $44,800. This selling price looks very good to me. The only things about this deal that look a little off are the money factor and acquisition fee that you were quoted. Mercedes-Benz Credit's current base 3 year money factor for this car is .00265 for consumers who qualify for its "Tier 1" credit tier and its base acquisition fee for non-New York residents is $795. There may be a little marking-up going on with these items. Other than that, this deal looks good to me.

Car_man

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hpowders · February 2005

Hey Car_Man-Thank you for the information regarding the BMW X5.

hpowders

bodble2 · February 2005

Thank you for your advice.

volvoxc90 · February 2005

With incentives, the buy price is 38,700 with a cap cost of 40,155. I want a 48 month lease with 15K miles per year. What should I pay?

cstowe · February 2005

CarMan,

I will be in the market for a new car soon and since I will need something nice (for clients and such) I am considering leasing a bit more up-market car than I would be willing to purchase outright. I have read about the (apparently) good deals that audi is offering right now on the a4 (SE) and wanted to know what the MF and Resid. would be on a 24 month lease with both 12k and 15k per year (I can get the 36mo numbers from a previous poster). Also, is there much difference between the 1.8t FWD CVT, the quattro and the 3.0?

Since I am new to leasing let me see if I have all of this right, is the resid. calculated on MSRP or on selling price, I assume it is on MSRP. Since the monthly payment is calculated on the diff between the selling price and the resid. then I assume that the lower selling price one can negotiate then the lower the monthly payment will be (since the resid., calculated as a % of MSRP, is static) while, conversely, a higher resid. will result in a lower monthly payment as well.

Do you know of any other manf. that are offering a similiarly good deal?

Thanks for all of the help you provide here and plase let me know if I have any of this wrong.

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