Lease Questions - Ask Here

gunn81 · August 2001

I have read that in setting up a monthly budget, car payments should be roughly 20% of your net income. Does this equate to 20% of your income after fixed expenses AND taxes, or 20% after taxes? I am considering a couple of lease payments, but with a new house on the way, I don't want to stretch myself too thin. Any help is appreciated.

justindal · August 2001

Hey Carman could you give me the MF, residual and all the numbers for the Jetta Wolfsburg Edition? It's listed with an MSRP of $20,325. I want to do 36 or 39 months, 12k per year. Thanks.

deecee5 · August 2001

I'm currently leasing a 1999 Windstar SE for 36 months. I have about 6 months left on the lease and can turn the car in early if I lease a 2001. Ford is offering a $4500 rebate which seems pretty good. What is puzzling to me is the residual - on a 24 month lease they are stating the residual at 47%. This compare to about 50% on my '99 with a 36 month lease. The nearly identical vehicle will end up being about $30 more per month even with the rebate. I'm currently at around $390 with the 2001 looking like $420-430. Decent deal or no? This is my first post so I'd appreciate any input. I'm set on leasing since we drive low miles and my wife would like new cars every 2-3 years. I would rather buy but let's not go there

gwarren · August 2001

Car_Man

OK the 2002 Chrysler Sebring Convertibles are now in. As this is the car I am primarily interested in, I would like know the Lease particulars "when they become available to you". I know that it may be a while but I would either deal at the end of August or the end of September. Looking at a 36 month lease with 12,000 miles per annum. I would take the LXI model, but I really like the Silver Blue color and that is only on the Limited. So I may have to take a Limited to get the Color.
Also advise if any rebates or incentives.
Thanks in advance Car_Man

Gary Warren

CarMan@Edmunds · August 2001

Maxwella11, yes the residual values of 2001 TTs have fallen somewhat over the past several months, but they are still fairly high. It's difficult to say how much higher the residual values for the 2002 TT will be when they are introduced. If Audi further enhances the lease money factors for the TT next month, which I think is very possible, I have a feeling that this additional support would more than outweigh any difference in residual values. It is possible for you to get pre-approved to lease the vehicle that you want through an outside lending institution, but this does not happen very often. I have a feeling that Audi Financial probably has the most attractive lease program on this car right now.

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CarMan@Edmunds · August 2001

Justindal, I assume that you are talking about a 2001 Jetta. Please correct me if I am wrong. Volkswagen introduced dealer cash on all of its 2001 models this month, but they also discontinued the supported lease and special financing programs on them. So if you decide to lease a 2001 Jetta Wolfsburg Edition through Volkswagen Credit right now you would have to use their standard lease money factors for that car. The standard 36 month factor for it should currently be .00275 and the 39 month factor should be .00290. The residual values should be 55% and 53%, respectively.

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CarMan@Edmunds · August 2001

Deecee5, it definitely does not surprise me that the Ford Windstar has lower residual values right now than it did when you leased your last one a couple of years ago. One possible reason for this is that over the past six months to a year many banks have realigned their residual values on many vehicles. In the past many banks, especially those affiliated with automakers, frequently overestimated vehicles' residuals either intentionally to provide more attractive lease payments or unintentionally. As a result, many of these banks took huge financial losses and have become much more conservative in their estimation of residual values. Plus a completely redesigned Ford Windstar may be introduced as early as the 2003 model year. The further models are from their redesign or introduction, generally the lower their residuals are.

If you would like, let me know exactly what model Windstar you are interested in leasing, its full MSRP, its capitalized cost, how long you plan on leasing it for, what part of the country you're in, and how many miles year year you want to be able to drive without having to pay a penalty and I would be more than happy to estimate what I think your monthly payment should be for this van.

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CarMan@Edmunds · August 2001

Hi Gary. It is very possible that ChryslerFinancial's lease program will be different when you plan on getting your new Sebring. However, if you were to lease a 2002 Sebring Convertible Limted or LX through them right now for 3 years with 15,000 miles per, you would have to use a base lease money factor and residual value of around .00335 and 44% (ouch). There is no cash, lease or retail available on the 2002 Chrysler Sebring Convertible, yet.

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bstreet · August 2001

Hi Car Man. I was wondering if you could help with the lease particulars on a Durango? I'd want no more than a 36 month lease on a 2001 2wd SLT. I'm not sure if I want to lease or purchase.
thank you!!

infinitimn · August 2001

Thanks for your responses.

deecee5 · August 2001

Thanks for the info Car_Man. The van I'm looking at is an SE with a sticker of 31,500, cap cost of 25,900, 24 mo. lease with 12k miles per year, residual of 47% and a money factor of "2". I live in SE Michigan.

gwarren · August 2001

Car_Man
Thanks for the info, ouch is right not a plausible lease @ 8% interest and poor residual.
I would assume on a 12,000 mile the residual would be 2 points higher?
Either way no good right now, but I do have some time. I will ask again once I am closer to making a deal and Chrysler becomes more competitive. Otherwise I will be looking at other options.
Gary

melech · August 2001

Car Man;
My daughter is considering leasing either a Civic or Protege: 3years, 12,000 miles, no money down, top notch credit, Boston area.
Can you give me the MF and residuals, and when these will expire? Also, can you make a rough estimate, is it better to wait and pay 2002 prices and get a better residual, or get a "bargain" 2001 with a lower residual?

Thanks again for all the help you provide to us sheep before we head for the slaughter.

Melech

justindal · August 2001

Thanks Carman for the info. Yes it is a 2001. Could you tell me how much dealer cash is being offered?

garyking · August 2001

Car Man,

Could you let me know what the current money factor and residual numbers would be for a 36 Mo., 15K lease on a 2001 ML320 through MBCC?

joestein · August 2001

Carman,

I am looking to buy an SUV in NJ (Monmouth County) soon after I move later this month(I am sure you have seen quite a few messages from me). This weekend my wife and I saw the Nissan Pathfinder and the Chevy Trailblazer, and we like both of them.

On the Nissan Pathfinder, Nissan is running a special promotion for $329/month with $1999 due at signing plus tax for the SE automatic. I asked the sales person how much more a LE would cost me (The MSRP is only another $1000 or so), they told me that the program didn't extend to the LE and would cost me mid 400's. Is this correct, what is the money factor and residual percentage on this ease program (39 months) and can I apply these to the LE?

The Trailblazer is a fairly new car, is there any lease specials on the car? What would be the money factor and residual on a 36,39 or 48 month lease?

And is there any cash back on either model. I own a pontiac grand am, does this qualify me for any loyalty rebate on the Chevy? (Both GM)

Plus, has the lease deals on the Grand Cherokee Laredo been incrased at all since last month?

Thanks for all your help.

Joe

joestein · August 2001

Carman,

My father-in-law is leasing a Lincoln LS. His 36 month lease ends in September 02. He has approx 12 payments left. He (and everbody else) hates the car and would like to lease another car. He is interested in a Navigator, Continental or Mountaineer. I have read messages on this board that Ford has allowed customers out of their lease early if they lease another Ford. Is this true? and how can it apply to my Father-in-law? (i.e. How many months early can he turn it in, etc.)

Thanks for your help.

Joe

CarMan@Edmunds · August 2001

Hi bstreet. DaimlerChrysler is not providing any lease money factor support on the 2001 Dodge Durango at this point. So if you decide to lease one through Chrysler Financial right now, you would have to use their standard money factors. For 3 years, this should be .00335. The residual value for a 2001 Dodge Durango 2WD SLT leased for 3 years with 15,000 miles per should be 45%. In most areas DaimlerChrysler is offering $2,000 to $3,000 Lease Cash on this truck. If you let me know exactly where you live, I would be happy to let you know specifically what the cash should be like in your area.

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CarMan@Edmunds · August 2001

Deecee5, according to my calculations a 2 year lease with 12,000 miles per on a 2001 Windstar SE with a MSRP of $31,500, a cap. cost of $25,900, a residual value of 47% and a lease rate of 3.25% should have an approximate zero-down pre-tax monthly lease payment of $517.

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bstreet · August 2001

Carman,
As always, thank you so much for helping me wade through this muck!
I live in Florida. I think the cash incentive on the lease was $3000, but am unsure. At which point in the equation is the incentive on a lease taken out? Finally, is the cap cost on a lease whatever I negotiate, or is there a set price that is X dollars or percent below the MSRP? thanks again and again!
Oh, given the lease factors on a durango, would you recommend buying over leasing? i'm really up in the air on this one.
becky

alreadytaken · August 2001

OK, my ex leased a 98 corolla that's gonna be turned in this week. Last week they hit a deer...needs new hood, left front lights, about $1600 in damages. Small problem...she dropped the insurance on it about a week before because 'I only have a couple weeks left and I thought I could get by'. Another small problem...I'm the cosigner on the lease (we were still married when she got the lease...long story). The lease is throught Toyota Motor Credit Corp. Even if they had insurance, no body shop here in the boonies could've got it fixed within 2 weeks. She was gonna turn in the car...horrible car for a toyota. Only strong point she has is that it has only 34k miles on a 45k lease. I tried ordering cheap parts on the web but they probably won't get here in time. I was thinking at least get the lights and the hood replaced and save some bucks on parts (not enough time to paint the hood of course). The residual on it is $11k...way over fair market value and we both hate the car. Anyone got any bright ideas to get out of this one? lol
btw, I know my ex is not the sharpest tool in the shed, which is one of the reasons shes an ex lol.

CarMan@Edmunds · August 2001

Welcome back, Melech. Long time no speak. I would be happy to give you an idea of what the lease programs for these two cars should look like. Honda is not providing any sort of lease support on the Civic right now. So if you choose to lease one through American Honda Finance Corp. you will have to use their standard lease money factors, which fortunately aren't really that bad. Right now AHFC's 3 year standard money factor is .00260 and the corresponding 12,000 miles per year residual value for a 2001 Civic Sedan is a solid 57%. This lease program is scheduled to run through September 4th.

Right now, Mazda seems to be promoting 39 month leases instead of 36 month ones, so I will provide you with the lease date for that term instead. If you lease a 2001 Protege through Mazda American Credit for 39 months and with 12,000 miles per year prior to October 1st, the lease money factors should be .00130 for the DX, LX, & LX2 and .00242 for the ES2. The corresponding 12,000 miles per year residual values for these models should be 42% for the DX, 48% for the ES2, and 44% for the LX & LX2. Cars with manual transmissions or without air conditioning will have slightly lower residuals than the ones that I mentioned.

It is difficult to say if it would be better to lease a 2001 model right now with a decent discount or wait until the 2002s hit showrooms to take advantage of their higher residual values. I have a feeling that on these cars you may actually be slightly better off waiting for a 2002 model. Of course, as I mentioned it is tough to say for certain and I definitely don't seen anything wrong with getting a 2001 right now if you are in the market.

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CarMan@Edmunds · August 2001

Justindal, I believe that Volkswagen is providing its dealers with $1,250 Dealer Cash on the 2001 Jetta through August 15th. After that date, they have a Dealer Volume Bonus Program on all of their 2001 models that provides them with $0, $1,250, $1,500, or $1,750 per unit depending upon the percentage of their dealership-specific sales objective that they attain for the month.

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CarMan@Edmunds · August 2001

Hi Gary, the last time that I saw MBCC's lease program their 3 year 15,000 miles per lease money factor and residual value for a 2001 ML320 were .00329 and 61%, respectively. Keep in mind that Mercedes-Benz is providing its dealers with $1,500 Dealer Cash on this truck that should have an effect upon your ability to negotiate the price of the one that you are interested in.

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CarMan@Edmunds · August 2001

Hi Joe. I definitely remember seeing your posts. The salesperson who you spoke with was telling you the truth. Nissan has two different sets of supported lease money factors available on the 2001 Pathfinder. The factors that are available on the SE are slightly better than the factors that are available on the XE and LE. The 3 year money factor on an SE should currently be .00150 versus a factor of .00190 on all other Pathfinder models. The higher money factor combined with the higher price of the truck that you want may very well push the payment for a similar lease on an LE to over $400 per month.

Even though the 2002 Chevrolet Trailblazer is a fairly new truck General Motors is already providing lease support on it. Right now the I believe that the GMAC lease rate for a 3 year lease on this truck in most areas is 3.3%. That is equivalent to a lease money factor of around .00138. The corresponding 15,000 miles per year residual value on the 2002 Trailblazer is 52%.

As far as lease cash goes, Nissan currently has $1,500 Lease Cash available on the 2001 Pathfinder. There is no lease cash available on the 2002 Trailblazer yet. In your part of the country, General Motors is providing lease loyalty cash that can be used to reduce the capitalized cost of a new Trailblazer, but it is only available to currrent GMAC lessees.

The incentives on the Jeep Grand Gherokee Laredo are still fairly similar to what they were in July.

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dkchips · August 2001

Car Man,

How does this stack up for a deal on a 2001 ML 320 with an MSRP of $42,470 - 48 month lease -
Cap. cost of $39,700 with a drive off of $5,400
15K miles a year allowed - residual is %54.5

Monthly payment is $499 plus tax

Is this a good deal?? Please advise

okada · August 2001

Carman,
Can you give me the residual values for the 2002 Mercedes C32 AMG. My credit union will not lease the car to me because they do not have any residuals on this car. My car is at the dealer and they do not want to hold it for me. If you can, 36 and 48 months. Thanks!

topgun7 · August 2001

Car_man, does envoy or Bravada has any lease support from GM? What is the money factor
and residual for 4 yr, 15kmi for these 2 suv? thanks.

maxwella11 · August 2001

why do some companies do 39-month leases? these seem to be very popular. are there are any advantages? is it to make comparisons between different deals more difficult?

don't you have to pay for a full year's registration into the fourth year? which could be expensive if you live in a state that bases fees on a car's value.

probertstx · August 2001

Hi Carman.
Do you have money factor and residual information on the following trucks?

Ford F150 Supercrew XLT 4X4
Ford F150 Extended cab XLT 4X4
Ford F250 Superduty Crewcab XLT 4X4

Silverado 1500 Extended cab LS 4X4
Silverado HD1500 Crew cab LS 4X4

All of these would be for a 36mo/12000mi. lease.

As you can see, I'm pretty much covering the field here as far as pick-ups go.

Thanks,
Paul

CarMan@Edmunds · August 2001

Joe, I am curious why your father-in-law is considering another Lincoln product if he hates the LS so much. It is very similar to the Jaguar S-Type and is supposed to drive significantly better than any other Lincoln product out there right now. Your father-in-law is fortunate if he does want to get out of his current lease early. Normally this sort of thing could be very expensive, but as you mentioned Ford is running a special early lease termination program right now. This Early Bird Program is for lessees whose leases are scheduled to expire from October 2001 through January 2002. Ford will waive up to 2 monthly payments and provide $1,000 bonus renewal cash for those who enter into another 24 or 36 month Ford Credit contract prior to 9/3/01. It sounds like the LS lease still has a few more months than this remaining on it, but perhaps this program could be used to waive at least part of his remaining payments. You will need to check with someone at a dealership or with Ford to find out for certain.

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CarMan@Edmunds · August 2001

You're welcome, bstreet. You definitely are not alone, those who have never leased before often find leasing difficult to understand at first. Fortunately, we can all get together here at Edmunds and exchange out knowledge and thoughts on the subject. Any lease cash that is available on the truck that you are interested in should be used to assist you in your negotiation of the vehicle's capitalized cost. A car or truck's cap cost can be negotiated just like its price would be if you were paying cash or financing it.

As far as whether you should lease or buy a Durango at this point, I personally think that it is a toss-up. Some vehicles that have lots of Cash available on them and no lease support or terrible residual values without much lease support often really stand out as ones that consumers should buy. Conversely, certain vehicles which have outstanding lease programs, but not much in the way of retail incentives often stand out as ones that should be leased. The Durango seems to be somewhere in the middle of these two scenarios at this time, so it really all boils down to whether you feel comfortable leasing and think that it is a good fit for you.

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CarMan@Edmunds · August 2001

You are right, alreadytaken, that is definitely a post that I have never seen anything like before. I am sorry to hear about your tough situation. Rather than just turning the car in or hurrying to try to repair it and not doing the repairs properly, I would probably see if the bank which you are leasing the car through would allow you to extend your lease a few months if I was in your shoes. If you try to extend your lease, you don't even have to mention why you want the extension. I did this when I had an Acura a while ago. American Honda Finance Corp. gladly allowed me to extend my lease four months, and they would have allowed me to extend it another time if I needed to. Not all banks allow lease extensions, Nissan Motor Acceptance Corp. does not seem to for some reason, but it's certainly worth a shot. If they allow you to extend your lease, the additional time will allow you to fix the damage properly so you can minimize your lease-end penalty on the car.

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CarMan@Edmunds · August 2001

Dkchips, Something doesn't seem to add up with the numbers which you gave me. A vehicle's capitalized cost should be the price that you were able to negotiate on it minus any down payment that you make. If this truck really had "Cap. cost of $39,700 with a drive off of $5,400," that means that you are really paying around $43,700 for it which is over its full MSRP and probably is not the case. Furthermore, I usually advise consumers against making such a large down payment on leases. There are several reasons for doing so one being that the down payment that you make only serves to reduce the amount of interest that you pay over the length of your lease but has no effect upon your vehicle's residual value. As a result, even if you put thousands of dollars down on a vehicle, it will still cost the came amount of money to purchase at lease-end as it would if you had not put any money down. Of course, this really does not matter if you don't plan on buying the truck at the end of your term. Secondly, if your truck is totaled in an accident or stolen and not recovered at some point during the four years that you are leasing it for, your down payment essentially disappears and you are not reimbursed for it. If you like the lower monthly payment that a down payment would provide I suggest that you see if the bank that you are going to lease this truck through, probably Mercedes-Benz Credit Corp., allows consumers to make multiple security deposits on leases. For every security deposit you make, your lease money factor will be reduced by a certain amount, thus reducing your monthly payment. However, unlike a down payment you actually get your security deposits back at lease-end.

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P.S. Don't forget that Mercedes-Benz has $1,500 Dealer Cash on the ML 320 right now that should allow you to lease one at a price which is fairly close to dealer invoice.

CarMan@Edmunds · August 2001

Hi okada. Fortunately, I have seen the Mercedes-Benz lease program for 2002 models. MBCC's lease money factor for a 2002 C32 AMG, excellent choice in cars by the way, should be .00329 for both 3 and 4 years for all consumers who qualify for their top credit tier. The residual values for this car leased with 15,000 miles per year are a solid 65% for 3 year and 58% for 4 year lease terms.

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CarMan@Edmunds · August 2001

Yes, topgun7, General Motors is providing lease support on both of these trucks right now. However, the lease support is only good for 24, 30, and 36 month terms. If you opt to lease one of these trucks for 48 months as you indicated in your post you will have to use GMAC's standard lease rate, which is significantly higher than their supported rates would be. Are you sure that you still want to lease for 48 months?

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kmurray66 · August 2001

Could someone please provide me with the applicable money factor and residual % for a 36 month lease on an EX. Thanks.

lostwages · August 2001

Car Man - Love the sight - Hopefully you can help with some questions. I have never leased before, but am interested now with deals that I am seeing offered.

I was planning to lease an Acura TL Type S, but have found that I can lease an Audi A6 2.7t for about $50-$75 more per month (values of cars differ by $13,000 +/-).

Audi has offered a car w/ MSRP of $45,975 for $43,275 for 39 months w/ a money factor of .00139 and a residual of 54% ($24,826.50). They are offering monthly of $500.15 with $2,499 down.

First - Do these #'s calculate? I have attempted to calculate what the monthly should be based on the formula I have seen here on Edmund's and my figures showed a smaller monthly payment.

Second - In you opinion - is this a fair deal and how would I attempt to negotiate a better monthly w/ (ideally) less down?

Thanks

dkchips · August 2001

Car Man,

Thanks for your reply - Yes I did leave out some numbers - the car was negoiated down to invoice of $39,500 - and the money factor was quoted as .000389 for a 48 month lease - the drive off of $5,400 was the first month plus acquisition fee - so the cap reduction was around $4,300.

Monthly payments are $499 plus tax with 15k miles per year - MSRP is $42,470

How doses this deal sound to you?

Thanks,

DKCHIPS

melech · August 2001

and thanks for the leasing info.
In a few days I will have what I believe will be an educational story to tell about my lease buy-out experience here in AZ, where, under a new law, only dealers can sell you a car, even if you are already leasing it from the manufacturer's credit company.

Melech

CarMan@Edmunds · August 2001

Hi Paul. Full-Size Pickups are one of the few types of vehicles that domestic manufacturers have an edge over the import brands in and as a result they are still able to sell them without much difficulty. In fact, the Ford F-Series pickup has been the number one selling vehicle in the U.S. every single month for something like the past fifteen years! So these manufacturers really don't need to provide much in the way of lease support on these models.

I believe that all F-Series Non-Super Crew Light Duty Pickups have lease rates around 7.75% for 3 year terms. This is equivalent to a lease money factor of around .00323. Super Crew models should have a 3 year lease rate which is a little higher at around 9.0%, which is equivalent to a lease money factor of around .00375. 2001 F-Series Super Duty models will have to utilize Ford Motor Credit's standard lease rates, which likely aren't much different than the rates which I mentioned above. As you can see none of these lease rates are very good. The residual values if you were to lease the trucks that you mentioned through Ford Motor Credit for 3 years with 12,000 miles per are as follows, 2001 Ford F150 Supercrew XLT 4X4 = 50%, 2001 Ford F150 Extended Cab XLT 4X4 = 49%, and 2001 Ford F250 Superduty Crew Cab XLT 4X4 = 50%.

Chevrolet is not providing any sort of lease rate support on the 2001 Silverado. So if you decide to lease one through GMAC you will have to utilize their standard lease rates. The last that I saw, their base standard lease rate for consumers with excellent credit was 6.85%. The residual values for the models that you are interested in are as follows, 2001 Silverado 1500 Extended Cab LS 4X4 = 52% and 2001 Silverado HD1500 Crew Cab LS 4X4 = 50%. GM does have a slight amount of lease support on the 2002 Silverado, let me know if you are interested in the details.

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CarMan@Edmunds · August 2001

Kkmurray66, as you are probably well aware, the Honda Odyssey has been an extremely popular minivan ever since it was redesigned. So, Honda does not feel the need to provide any lease support on it. Fortunately, American Honda Finance Corp.'s standard lease program is very reasonable. The base 3 year 15,000 miles per lease money factor and residual value for a 2001 Honda Odyssey (without Navigation) leased through AHFC should currently be .00260 and 57%, respectively.

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CarMan@Edmunds · August 2001

I am glad that you enjoy your visits to the Town Hall, lostwages. The lease money factor and residual value that you were quoted are exactly what Audi's captive finance company is offering right now. According to my calculations a 39 month lease with 15,000 miles per year on a 2001 A6 2.7T (nice car by the way) with an MSRP of $45,975 and a selling price of $43,275 should have a zero down pre-tax monthly lease payment of around $568. With the $2,499 down that you mentioned I calculate the exact same monthly payment that you were quoted, $500.15, right down to the penny. It is nice to see that they dealership which you are working with is being very straightforward with you. If you would rather not put $2,500 down on this car, remember that you almost always can lease any vehicle without making any sort of down payment. Audi is no exception to this. I know several people who have leased Audis without any money down. The deal that you were quoted sounds very reasonable to me. They only way that you would be able to get a lower payment is if you were able to negotiate a lower selling price for it.

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CarMan@Edmunds · August 2001

Thanks for the additional info, DKCHIPS. I knew that something didn't look right with the earlier numbers. It is good to see that you were able to negotiate the price of this truck down to Dealer Invoice. However, unless you don't qualify for Mercedes-Benz Credit Corp.'s top credit tier, it appears as though the dealership that you are working with is trying to make a little of the money that you negotiated off of this truck's price back by marking up its base lease money factor. The base MBCC money factor for Tier 1 credit customers was .00329 the last time I saw their program. Using the MSRP of $42,470 and the capitalized cost of $35,200 ($39,500 Dealer Invoice Price - $4,300 down) I come up with a 4 year 15,000 miles per pre-tax monthly lease payment of $447 on a 2001 ML320. Using the higher .00389 lease money factor that they told you I come close to the payment that you were quoted at $482. In closing, if your credit is in good shape, I think that you may be able to do a little better by comparison shopping with a few other local Mercedes-Benz dealers.

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CarMan@Edmunds · August 2001

You're welocme, Melech. I am looking forward to hearing your story. Talk to you soon.

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topgun7 · August 2001

Hello Carman, if the GM support lease is only for 36 months, that would be the one that I am interested. I have an olds owner coupon for $1,500 off ($1,000 for other GM car). I read in the envoy/bravada board that it looks like the car is selling close to invoice now. Please let me know the money factor and residual for 3 yrs, 15kmi/yr for these 2 SUV.

By the way, remembered I asked you some questions about the lease for 02 lexus SC430 a few months ago? Looks like the wait is close to be over, the dealer has a blue/tan for us next monday. The lease will be about $808/months with max number of security deposit (9 payments worth) to lower the money factor down to 0.002. After all the tax benefit (it is for my wife's business car), it will probably cost us out of pocket about $400 a months. Anyhow, we are thinking about trading in her current car (01 RX300) and see if the Bravada and Envoy will give us a better payment for us (since this is going to be my suv, there is not going to be any tax benefit. I have to watch the payment closely. Isn't this unfair?)

gremit · August 2001

Car_man, I have a question on residuals I am hoping you can help me with.

First, are residuals negotiable or are they set in stone?

Second, I was quoted a residual of 59% for 36 mos. and 54% for 42 mos. for a 2002 BMW 330i. Do those figures sound right?

Third, I was told by a dealer that the residuals for new BMWs have dropped. I have a 2000 328i and the residual is higher. Is that true?

Thanks for your help!

probertstx · August 2001

...unfortunately, all they did was reinforce the wifes idea that I don't really need a truck, and a nice family car would be better.

So could you give me the money factor and residuals for a 36mo/12mi lease on a 2001 Ford Taurus (if I'm going to get a car it might as well be a big 'un)? I'd be interested in the SES sedan, and the SE wagon. If the 2002 has different figures, I'd be interested in those too.

Also, does anybody know what sort of discount Ford's X-plan pricing would give me on this car?

Thanks again,
Paul

tlauro · August 2001

Being newer to this section, which has lots of good information thanks to many, I just wanted to say hello.

I grew up in the car business and worked in it for all too many years and hope to be able to add some information where I can.

As others have said, I just couldn't make my way through the tons of posts, but if anyone is interested in reviewing and helping improve a simple MS Excel File I have on calculating a lease, feel free to visit the below link, download it and share your thoughts back. More than anything, I wanted to get the formula out there for others to use and play with.

I'll gladly re-post the improved versions on my site for others to benefit from.

Enjoy and I look forward to further reading/learing.

tim

http://www.iwaynet.net/~tlauro/go-tim/lease-page.html

kbehnke · August 2001

Car_man,

Can you provide me with the money factor and residual for a 2001 Nissan Sentra GXE? We're looking for a 36 month, 15k/yr lease. Also, is Nissan offering any other lease cash rebates at this time? If so, when do they expire?

Thanks a bunch!

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