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Car_man
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According to my calculations, if you were to lease a 2005 Jeep Grand Cherokee Laredo 4WD with the w/26E options package, an MSRP of $32,040, and a capitalized cost of $27,370 ($29,370 invoice - $1,500 lease cash + $1,000 Chrysler Financial Bonus + $500) through Chrysler Financial right now for 3 years with 12,000 miles per, your zero down, pre-tax monthly payment should be around $361.
I just realized that you did not specify which Murano you are interested in, i.e. the '05 Murano S AWD, Murano SL 2WD, etc... Without this informaiton I can not estimate this vehicle's lease payment for you.
I can not estimate a lease payment on the Buick Rendezvous for you either without knowing what state you are in because its incentives vary by region. I can tell you though that the $4,500 in incentives that you mentioned can not be used in conjunction with GMAC's lease program.
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You never mentioned the selling price or MSRP of the truck that you are interested in leasing. These are 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 this Envoy's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the exact truck that you are interested in for you if you let me know what these numbers are.
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Highlander ltd v6 awd.
MSRP= 35554
Sell= 32356
NY.
Thanks for clearing that up. In case you're looking for a 2005 GS300, I was at a Lexus dealer in Nassau County, Long Island yesterday and they were offering it for 36,800 which was below invoice and close to the carsdirect price with the usual options (leather package, heated seats, & sunroof).
Unfortunately I didn't get the car because orginally the saleswoman told both me and my wife 2 separate times on the phone that the lease payment for a 36mon/15K lease would be $500 including tax with zero down and my last 4 payments on my '02 would be waived. This was what caused me to change my plans yesterday and go to the dealer to finalize the deal. When I went down to the dealer they suddenly couldn't do that deal claiming they would be losing $4,000 and the saleswoman claimed her manager had agreed to it and the manager there yesterday didn't know why the other sales manager agreed to it and of course he was "unreachable" by phone or pager to ask him why. They sent over the "sales manager of the day" who apologized and offered me a few free services, although they were vague with as to what this real entailed. They tried to get me to take the lease for a monthly price over $625 with a cap cost of $36,800. I walked out because I told them that I don't expect Lexus to pull that bait and switch crap, especially to a repeat customer and they have, at least for the time being, lost what had been up to this point a completely satisfied customer. In any event, I haven't had one problem with my '02 GS and would recommend the '05 since it's basically the same car although if you do a lot of driving in the snow I would stay away from it since it's horrible in the snow.
I wanted to get your take on this deal. 2005 Tundra Dbl Cab SR5, 4x4- MSRP w/ options 35,010. 345/month (plus sales tax) with zero out of pocket, everything rolled into the monthly payment, for 36 months with 15k miles/year. Plus, $1000 cash back to me.
I have been trying to find the residual, I think it is 72% after 3 years. Not sure though. I have a beacon score of over 770. I live in Florida, and the lease is being offered by Southeastern Toyota Finance. The info below is the standard deal Toyota is offering on the SR5. This deal is zero down, 12k miles/year with an MSRP of $27,969. I thought this might help you with the residual if you didn't have access to it.
In lieu of customer cash and/or Special SETF APR Program; through SETF only. No security deposit. Excludes dealer documentation fees. Closed-end lease on all new 2005 Tundra Double Cab SR5 model number 7744 with select equipment. Adding options increases payment. $27,969 Adjusted Capitalized Cost based on $0 down payment. Lessee pays maintenance, excess wear and tear and $0.15/mile over 12,000 miles per year. Monthly payments total $10,404. A Disposition Fee of $350 is due at lease-end. Lease-end purchase option $20,328. Offer only available to qualified lessees through Southeast Toyota Finance. Retail delivery must be taken out of dealer stock by February 28, 2005. PROGRAM DATES: 02/01/05 - 02/28/05
Thank you very much.
Joe
What would you say is a reasonable price to pay on a monthly basis?
Looking for any advice you might be able to offer.
Thanks
Cosmos2
I want to make sure I don't get into a bad lease contract but don't fully understand the process. I received an information sheet from the salesperson. The terms that I discussed with the salesperson are there but so are a lot of extra numbers, which is confusing. It looks like a good money factor number but when I try to crunch the numbers myself, they don't seem to add up to the monthly payment I was quoted. I will list the numbers on the information sheet first and then the numbers that appeared on my contract (which I refused to sign).
0 down
Original MSRP: 21590
Base Value MSRP: 19700
Selling PRice: $20,085
Inception Fees: 1274.38 (verbally told that this included 1st mo pmt, title, reg)
Assignment fee: 550
Total Cap Cost: 21,909.38
Residual Value (69%) 14897.10
Annual Miles: 15000
Discount/Buy Rate: .000210
Payment: $299.91 + 7.8% = $323.30
I told the salesperson that I was fine with the numbers but the payment didn't match up to what I expected it to be. He said that I could get a better explanation from the "finance people." When I went to sign the contract, the payment was the same, but the inception fees were now lower (927.96) which I assumed would lower my lease payment a little. The contract also states that I am paying the $927.96 at lease signing, which I was not. They tried to say that this amount was really rolled into the payment down below on the contract. Is it normal to show that a customer is paying x amount of dollars when s/he is doing a zero down lease?
Also, on my lease contract, the following numbers are entered:
Gross Cap Cost: $21909.31
Residual Value: -14897.10
Depreciation: =7012.21
Rent Charge: +185.63 (??Is this legit??)
Total of Base Monthly Payments: =7197.84
Lease Payments: / 24
Base Monthly Payment: =299.91
Monthly Tax: +23.39
Total Monthly Payment: =323.30
Also, I was told that the $1500 rebate did apply to leases but upon my arrival was told that the rebates were for purchases only. Is this true?
Did I do the right thing by walking away to look things over or did I overreact?
Any help would be greatly appreciated!
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Whats there to fight.? .. it's a contract, and there's no difference in a lease and a finance contract .. right now, you owe all the remaining payments, plus the residual, minus any future incurred interest ..
If the lease company will "allow you" to get out via the auction route .. you will pay the difference between what the vehicle does at the auction - minus any recon, the auction fee, transport and any administration cost, which can be anywhere from $250 to $900++ depending on the condition of the vehicle and what auction it ends up at .... the residual and the market value have nothing to do with each other, they are 2 separate entities ...
You can try to sell this one on your own - or make the remaining payments, not much difference than any other loan or mortgage payment you will ever have ....
Terry.
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I know that the Feb deal ended yesterday, but I essentially locked in this deal. THe truck is on the way! I ordered it under the Feb lease terms. Just wanted to do a final check up on the price.
Also, thank you for the quick response.
Thank you very much,
Joe
Thanks for your time.
Excludes 5/60 extended vehicle coverage and personalization allowance.
It seems like the way to go for us, we have two small children, but don't want a minivan forever...this will get us past the car seat stage. we have never leased and are not sure if this is a good deal. What do you think?
Can I still use the rebate cash with a lease through Nissan on a Titan?
Also, I heard that the Titan's have $1,500 in March, up from $1,000. Do you know if that's correct? Edmunds.com isn't listing it yet?
I can't believe Lexus pulled that on you. I was thinking about getting the AWD GS because I live in the midwest. I read the reviews on an edmunds forum, and people don't sound crazy about the car. I'm going to check out the Infiniti M35 (AWD). Maybe you should check out that car, too. It is redesigned & is cheaper than the Lexus. If you want a car with a lot of punch, Infiniti usually delivers.
If anyone knows the March Infiniti deals, incl. lease factor, please post.
I was also stunned that they pulled that on me. To add insult to injury, I received an email yesterday from the saleswoman who originally said that she could do the deal, saying how they valued every customer and the other usual garbage. It was probably just an auto generated email that they send to anyone who comes into the dealership if they have their email address, but I just thought she had some nerve if she didn't try to stop it from going through. I'm debating whether I should reply to it or maybe send a letter to the owner of the dealership since I already have a car from that dealership.
Knowing that you're in the Midwest, I would highly recommend against the '05. This morning reminded me how bad the car is in the snow after awaking to about 5" of snow and having the car sliding all over the place. Mind you I've had RWD cars my whole life and have never had a problem driving in the snow before this car. I also read the same reviews on the '06 GS, so I'd be hesitant to get this one too. I'm actually considering the AWD G35, but at this point I might just wait the 4 months until my lease is up, since a few places I've been to want to add what I owe on the 4 payments into a new lease and I don't really want to pay for the GS for the next 3 years.
MSRP $23,500
Selling Price 21,100
Acquisition Fee 550
Cap Cost 21,650
Residual (70%) 16,324
Total Depreciation 5,326 /24 months= 221.92
$21,650 + 16324 x .00021 = 7.97
Total Payment 229.89
Sales Tax 5% 11.49
Total Payment with sales tax $241.38
Amount due at lease signing:
First month payment $241.38
Title Fees 50.00
Registration fees 36.00
Doc Fee 299.00
Inspection Sticker 29.00
Total $655.38
Your lease was calculated correctly. Because your money factor of 0.00021 was so low, your rent charge is low. Divide 185.63 by 24 months and you will see how little it contributes to your monthly payment.
Unless otherwise classified as Lease Cash, the rebates listed for most cars on sites like Edmunds only apply to Purchases.
I would question if leasing for 24 months is the best "monthly payment" deal, but you sure do have a fantastic (next to nothing) money factor. You cannot get away from the $550 acquisition fee or the per state registration and titling charges. In this case, it appears they did not require you to pay a security deposit. The only way to lower your monthly payment is to perhaps look at a 36-42 month lease or lower your cap cost by decreasing the selling price.
Leasing is a binding contract and is very hard to break, so I would say your reaction is perfectly normal considering that it's your money!
Hope this helps. Good luck.
She now has her eye on a 2005 Freestyle and we are considering leasing it for the 3yrs, and replacing it at the end of that term. I'm still waiting on quotes for the particular model with the options we are looking for, but Edmunds TMV comes in at $32642, and the X-Plan pricing I can get on it is $32100, plus a current local auto show rebate of $1000, so figure a sales price of $31500.
Question I have is when I went to fordcredit.com to figure what the lease payment was going to be on a 36mo/45,000mi lease, it wouldn't let me specify more that $7k for the trade in on the lease. Is there some limit I'm not aware of?
Also, scrolling through some past messages, I get a sense that there maybe some disadvantages to applying a trade-in toward a lease.
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Just posting a reminder re: lease numbers for the 2005.5 A4 2.0 Q and the 3.2. I'm looking for the MF and residual for both on a 10,000 mile per year lease for 36, 39 or 48 months. Thanks again. I'll hopefully be ordering one sometime this week.
So the MF is .00159 = 3.8%. Do you have any hard numbers on the residual for Feb? The March program appears to be exactly the same as Feb. I am trying to dissect the deal, and I wasn't sure about the residual.
Ultimately, I wanted your thoughts on 345/month, nothing out of pocket, with 1000 cash back in my pocket, 15k/year. If I did put that 1000 down (which are two rebates I am eligible for), then I would be at about 317/month. That seems like a great deal for a 35k dollar truck, but I am no expert. What do you the numbers tell you?
Thank you again,
Joe
Information on both vehicles is spotty at best.
How do you see the matchup, from a leasing point of view on these vehicles?
Do you have comparable mf and residual data for these vehicles?
36 month lease for both and also 48 and 60 momth on the Saab
I understand that Saab offers a 60 month warranty which could affect the term of lease I normally take.
I am going to lease either a 2005 RL or a 2006 M35 AWD. What are the March money factors and residuals for both cars? I live in NY and drive 15,000 miles per year. I would lease either of these cars for 39 or 42 months. I have been quoted by an Acura dealer(Feb #s): 15k per year for 42 months a money factor of .00200 and a residual of 47%($699 per month for 42 months not includes sales tax or $657 per month for 48 months and a 45% residual(MSRP $49,470 with a selling price of $47,000). Does that sound right?
The residual values seem low compared to the Infinit M35 AWD (MSRP and selling price of $48,160, money factor of .00178, and a residual of 60% of 39 months leasing for around $620 per month plus tax)
I will lease one of these cars hopefully with week. As always, your input is appreciated.
Thanks for your help.
Can anyone make a suggestion on nice minivan with a good residual, and maybe a factory supported low money factor, that would keep the payment low?
I am thinking of an Odyssey EX-L with DVD, but I don't think there are any good lease deals on those right now. (However, they do have good residuals.)
Any guidance would be appreciated.
thanks
I am looking to lease a XC 90 V8 with the following: Touring Package, Convenience Package, Climate Package. Dealer said lowest price is $1500 over invoice. Blue Book residual is 63% after three year, 12k per year. What is the money factor for this vehicle for March? Do you think the price will come down if I wait a couple of months? And what would a lease payment work out to be with no money down and taxes rolled into the lease?
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
I've seen MINI Cooper S convertible quotes for 36 months only come out to $415 + tax..
Another note.. BMW's lease program usually is not that favorable for 48 month terms.. Sometimes the 36 month lease is a better way to go..
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Here's the quote I received using March's numbers.
2005 Imola Red 330Ci w/ ZHP, Zenons, and heated front seats.
The salesperson also listed:
6 speed manual trans.
M shifter
M wheels
Suede covered steering wheel. Is this equipment already part of the ZHP package? I didn't see this stuff listed separately, are they perhaps dealer installed? I get an MSRP of only $43195. I am confused.
$42,600 selling price
$825 acqusition fee
$65 Doc fee
43,490 Gross Capitolized Cost
$2,500 Down payment
$40,990 Adjusted Cap Cost
$44,645 MSRP
57% Residual
$25,447.65 Residual Value
36 Month Term
0.00120 Money factor
$ 511.46 monthly payment Plus Tax
Did the numbers change much from February to March? Since this is a factory demo, I was hoping for a better deal. From your perspective, couldn't I just order a car and get it for the same discount below MSRP?
Thanks,
mabubba