Lease Questions - Ask Here

moorejwm · August 2001

Does anyone have the current lease info
for the Suburban, Expediton, Excursion vehicles.

What have people been about to negotiate for terms.

The lease will be 36 month 15K/yr.

Thanks.

CarMan@Edmunds · August 2001

Hi again, topgun7. Here are the 3 year 15,000 miles per lease rates and residual values for these two trucks: 2002 Oldsmobile Bravada: 3.30% / 52% 2002 Envoy: 4.70% / 52%. By the way, I will be very jealous of you and your wife if you end up getting a 2002 SC 430

. What a great car!

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CarMan@Edmunds · August 2001

Gremit, a vehicle's lease residual values are set by the bank that you are going to lease it through and individual dealerships do not have any authority to alter them. Although someone in this forum mentioned a long time ago that they were able to negotiate their leased vehicle's residual value lower, I have not actually seen this done. Besides a lower residual value will just result in a higher lease payment. I haven't seen BMW's residual values for its 2002 models yet, but the residual values that you posted are exactly the same as what their 2001 model year residual values are currently for the 330i. I have a feeling that the BMW Financial Services residuals will be a little higher than the values that you mentioned for the 2002 version of this car. I don't remember what the residual values were like for BMWs back in 1999 off of the top of my head, but given the fact that many many banks have lowered their residual values for vehicles over the past year or so it definitely would not surprise me if the 3-Series residuals are lower now than when you leased yours a few years ago. Besides the dealership that you are working with would not have any reason to lie to you about your car's resids because they don't have any authority to alter them.

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CarMan@Edmunds · August 2001

Welcome to the Finance, Warranty, and Insurance Message Board, Tim, and thanks for offering to share your lease calculation spreadsheet with everyone. I created an Excel spreadsheet a while ago that I use to calculate monthly lease payments as well. It sure makes figuring out payments a lot faster than doing it manually. Also, thanks for offering to share your knowledge with everyone. I look forward to talking with you in the future.

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CarMan@Edmunds · August 2001

Hi kbehnke. Generally speaking Nissan's incentives programs almost always expire at the end of every single month. That's not to say that they won't issue an identical incentives program for certain models the following month, but for some reason they release a completely new program even if nothing has changed. Right now if you were to lease a 2001 Nissan Sentra through Nissan Motor Acceptance Corporation for 3 years with 15,000 miles per the lease money factor should be .00140 and the residual values should be 47% for the GXE and 50% for the SE. Unfortunately, Nissan is not offering any sort of lease cash on this car right now.

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joestein · August 2001

Car Man,

You said that the Chevy Trailblazer had a 52% residual percentage on a 3 yr/15K lease, what would the residual percentage on a 3 yr/12K lease?

In addition, is there any lease support for the Buick Rendovous? What would the money factor and residual percentage be on a 3 yr/12K lease?

About the Lincoln LS, it's not the performence that we hate, it is the size of the car (we call it the "Midget Lincoln"). It is very cramped inside the car, plus it pretty much bottoms out driving over anything 1" tall.

pdqgp · August 2001

just as my add in and I'm sure Car Man will confirm for sure, but typically the difference on a 12k vs 15k lease with GMAC the difference is 2%. So 54% on the 12k lease. On a $35k Triplet it will be about $18mo.

novatt · August 2001

Dealership has

Negotiated Price $37325 ($2000 off MSRP)
39 month lease
Money factor of 0.0330 (works out to ~8%)
15k mile/year
Resdiual of ~$23,000

$0 down, but drive off payments of $1700+ (tax, registration, and first month)

$575 a month.

Good, bad, average?

P.S. Love the sight

pdqgp · August 2001

Well, based on what you've noted, the numbers are somewhat in line. I show it at $573.55mo + Tax. with nothing down...no aquisition fee or taxes or registration added in or anything.

That leads me to ask how is the $1,700 broken down? What are you calling drive off payments?

If you throw that $1,700 down as a cap cost reduction AND pay (tax, registration, and first month) seperately, your payment should drop to $525...but again, we still haven't accounted for the aquisition fee....and that's probably only in the $500-$600 range.

Just as a side note though:
Sure is a high residual for a 39mo lease...roughly 58%. but then it doesn't appear the rate is incentivised.

MSRP $39,325.00
Selling Price $37,325.00
Aquisition Fee $0.00
Down Payment (Cap Cost Reduction) $1,700.00
Term 39
Residual % 58.00%
Interes Rate (MF x 24) 7.92%
Amount Financed (Cap Cost) $35,725.00
Residual Dollar Amount $22,808.50
Depreciation Fee $331.19
Lease Fee $193.16
Documentary Fees $100.00
Monthly Payment + Tax $524.35

mmcbride1 · August 2001

Is first month's payment of $575, acq. fee of, say, $600, and if their plates cost anything like Colorado, there's teh other $600.

Plates for my 2001 A4 were $500 (per year), and it goes up the more the car cost.

tlauro · August 2001

I understand your point, but let's hear how Novatt has the $1,700 broken down.

YOU WROTE
"Is first month's payment of $575, acq. fee of, say, $600, and if their plates cost anything like Colorado, there's teh other $600."

BUT
He mentions making his first payment and registration (plates) in addition to the $1700...so again, he needs to find what makes up the additional $1,700.

mellis · August 2001

Carman:

Would you give me the money factor and residuals for a 36mo/15mi lease on a Jeep Liberty 4WD Sport? Any idea what the per mile charge is if I want to buy extra miles up front? Thanks!

bstreet · August 2001

Hi again,
Ok i'm back to the durango questions!
I went to the dealership today to get some numbers, etc...and have a few questions. Is it possible for them to "inflate" the MSRP, in order to get more money for the deal? here's the situation...we came up with a monthly payment of $481 on a 01 SLT 2WD Durango with options of tire group, CD player, and one other thing I can't remember. When I figure it on Edmund's, I come up with an MSRP of $29,020 whereas the dealership came up with $30,300. The lease particulars are 36 mo, 15K/year, residual of 45% and mfactor of .00335 (just as CarMan said it would be!), the negotiated price of the car was $27,700 (cap cost would be $24,700 due to the $3K incentive), i'm in florida with 7% sales tax and the acq fee was $700.
So anyway, I can do the numbers and figure what's what, but I was wondering if they can play with the MSRP in order to get more?
Thanks for the help!!!
becky

bstreet · August 2001

Ok this is my last question, I promise! (for tonite anyhow). Carman, do you have any specifics on a 2001 2wd SR5 4Runner 36 mo/15K miles lease?

Oh, and on the Durango- I THINK it's cheaper to actually finance over 60 months on a purchase over lease (If i did my numbers correctly)!
thanks again!

tlauro · August 2001

No a dealer can't change the MSRP on a contract but there could be a couple things here. 1. Find out for sure what the vehicle's MSRP on the window sticker is. If they are building you a car in a computer to match what you want, they can actually print the window sticker to show you.

The one thing people miss when calculating leases is that Option Package Discounts on the window sticker are added back in on a lease which may result in a higher MSRP, but that's actually helping you by increasing the residual. Not sure if that's what's happening here, but review the following for info anyway:

Example:
Base Price $29,495
Option Packages, etc...all add up to $4,000
Option Package Discounts on window sticker show as -$1,000
MSRP on Window of $32,495

On a lease, the MSRP is going to show $33,465 as the banks residual is not going to include the discount, thus it's higher and your payment is lower.

Again, it may not be what's happening here, but worth knowing.

Here's what I came up with based on your numbers:

MSRP $30,300.00
Selling Price $27,700.00
Aquisition Fee $700.00
Down Payment (Cap Cost Reduction) $3,000.00
Term 36
Residual % 45.00%
Interes Rate (MF x 24) 8.40%
Amount Financed (Cap Cost) $25,500.00
Residual Dollar Amount $13,635.00
Depreciation Fee $329.58
Lease Fee $136.97
Documentary Fees $100.00
Monthly Payment + Tax $466.56
Tax Rate in County 7.00%
Tax on Payment $32.66
Total OTD Monthly Payment $499.21

Bottom line, it appears they waving a further $525 discount at the deal somewhere to get the payments down to $481.

Perhaps you're paying some up front costs and they are just discounting the car more...you won't know until it's on paper what the variables are.

Hope the above helps and you don't mind me chiming in. Just trying to help.

tim

enviroman · August 2001

Called my credit union about leasing a vehicle and they said that they had a balloon loan instead of a lease. Are balloon loans and leases the same? If not, how are the monthly payments calculated? Thanks

melech · August 2001

I have a '99 VW GLX coming to the end of a 3-year lease. The car has been perfect; absolutely no problems, well maintained, and with low (23,000) miles. It has a residual of $13,500, less than the market value, all lease payments are current, etc. so I decided to buy it from VW credit. Simple, right? Not in Arizona.

I call VW credit, they mail me a few short forms to complete (odometer reading, "as-is" warranty), a statement that the price, to the penny, is my buy out price, plus AZ sales tax, and the return address to send the check. This is on July 7 or 8.

A few days later, they call me. They cannot sell me the car. (First time I ever had a seller call to tell me not to put the check in the mail). It seems that as of July 1, here in AZ, a state notorious for weak consumer laws and a strong dealer lobby, there is a new law stating that ONLY a dealer in Arizona can sell a car as a business-- the manufacturer or an out-of-state dealer cannot. Obviously, the dealers' lobby is trying to restrict internet sales and manufacturers from getting their foot in the door for direct sales.

VW credit tells me this is very new situation to them, they don't like it, but until they get legal clarification they can't do anything about it. They suggest I call some dealer and ask them to handle the buyout transaction; they're of the opinion that this would be done at no additional cost to me.

So I naively call the nearest VW dealer. They are unaware of the new law, but after a few phone calls back and forth, the sharks smell blood in the water and tell me they would gladly handle a "lease-to-retail" transaction for $250. After I finish laughing, I call the dealer I leased from. (BTW, when I leased, it was a profitable deal for them --no grinding. I offered a percent over invoice, they accepted, less than 10 minutes of negotiation.)

The finance office tells me they would handle the buyout for $400. Now I'm not laughing. I call the Sales Manager and counsel him (I'm afraid a bit vigorously) about his responsibility under the lease agreement.
ME: You're a party to the contract, which states the total buy-out price. No additional fees stated.
SM: Yes, but that's only a buyout price from VW; we, the dealer, were not a party to handling the buyout. This is a new situation, imposed on us by the State. It's additional paper work for us, and we can charge.
ME: Interesting point. Lets see what the courts decide.
SM: Look, lets not use that ugly word "court". You've been a good customer, etc. etc. We'll waive the fee as a special courtesy.

SO, I do finally buy the car at the original buyout price (from the dealer) and agree to finance with VW credit at my CU rate, %7.25, as a sop to the dealer.

Now this would be just a lengthy personal anecdote, except it impacts on anyone who leases/buys in states with "dealer monopoly laws". I'm a retired suit, and with my Irish up, I was willing to fight this. But what about uneducated consumers, or immigrants, or simply the naive? These laws reduce competition and add opportunities for baking in unearned profits to transactions after the fact of the transaction.

I also have a question for the dealers in near-by states, e.g., VWguild. How can I now buy a car from you and register it directly in AZ? If I understand the new law, it really impedes the open market across state lines and via the internet and has broad implications.

Melech

tlauro · August 2001

I wish I lived in AZ to better understand what the deal is. Here in OH where I worked in the business that my family had for over 20 years, this is normal. Again, I can only comment on the GM world and it has been about 5 years.

Basically in the last 6 months of the lease a dealer can buy the car from the leasing company for a negotiated price that is typically lower than what you can buy it for. This is what allows them to market it back to you for the contracted price. IMO, the dealer isn't waiving any fee's he's just buying it from the leasing company and honoring the selling price as contracted.

Overall, to expect a dealer to not make anything isn't realistic or fair. Why would they? We used to work deals and I do this still today...just recently on my 2002 TB when my father bought out my GTP 8 months early. The dealer bought my GTP from GMAC for "Dealer Buyout" and charged me $100 to do the paperwork on a cash deal for my dad and $500 for profit. Still less than the $600 additional I was obligated to in my contract at that time and a cool $1200 below Black Book Wholesale. I then waited in line and did the paperwork on my Trailblazer. Fair deal and the paperwork is all done. He just had to go get his plates.

Legally the dealer isn't party to the contract after the deal was bought by VW Credit corp. What happens in a lease transaction is the dealer buys the car from the manufacturer, sells it to the leasing company and they lease it to you. The dealer is out of the picture as the they are just the paperwork guys for VW...you're beef is with the lender...VW.

Now I'm not sure if there is a problem as I can't imagine anyone would take this to court. What's probably going to happen is VW will sell the car to the dealer for around $12,500 or as much as they can and you'll buy the car from the dealer for the $13,500 in your contract.

a few years back I negotiated with Wells Fargo on a Camery my wife leased for 24mos. where the buyout was $13k. We were down to $10k as my final offer as a "Consumer Buyout" but then They finally negotiated things so that they dealer would buy it for $9500 and sell it to me. I bought the car for $10,200 and turned it around in less than one month for $11,900.

As far as registrations and purchases go, you can buy a car over the net or from anywhere really, it will, however, be registered in the state where you have set as your residence. I've not heard of this new law and can't imagine the gov't would be involved in restricting where you buy something from...they can't.

Good luck on your venture and I'm sorry things aren't as smooth as they should be.

mdag25 · August 2001

Hi Carman.. Thanks in advance for your help!

I have been working on a lease for a 2001 Beetle GLS. When I returned from the dealer I went to work on the numbers they provided. Based on the selling price of 18,612.00, residual value, and money factors listed below (provided by the dealer) the payment comes out to $298.31. But they are coming up with $337.36 a month. Am I doing something wrong or are they playing me. Oh and is the residual value for this car ok??

36 months, 15k a year,first payment only.

MSRP $19,925.00
Selling Price $18,612.00
Acquisition Fee $0.00(unsure)
Down Payment (0)
Term 36
Residual % 62.3%
Interest Rate (MF x 24) 6.6936%
Amount Financed (Cap Cost) $18,612.00
Residual Dollar Amount $11,595.58
Depreciation Fee $
Lease Fee $
Documentary Fees $
Monthly Payment + Tax $337.36

Thanks again.
Matt

CarMan@Edmunds · August 2001

Joe, I believe that the 12,000 miles per year residual value for the truck that you are interested in should be 3% higher than the 15,000 miles per year residual value that I provided you with. Yes, General Motors is providing a little lease support on the 2002 Buick Rendezvous. I believe that their 3 year lease rate on this vehicle should be around 5.61% in most areas. However, enhanced lease rates are available for this vehicle in certain parts of the country. If you let me know where you live, I would be happy to let you know if I am aware of any enhancements in your region.

That's very interesting about the Lincoln LS bottoming out. I hadn't heard that, but can certainly understand how that would be very annoying. Also, the LS is a heck of a lot smaller than Lincoln's other vehicles like the Town Can and the Continental. I understand why that car isn't right for your in-law.

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CarMan@Edmunds · August 2001

Novatt, I am glad that you enjoy the Town Hall so much. As far as your lease goes, great car by the way, the lease money factor that you were quoted by your dealer sounds a little on the high side to me. Right now if you were to lease a 2001 Audi TT through Audi Financial Services, you should be able to use their base lease money factors of .00305 on the Coupe and a special money factor of .00240 on the Roadster. If you provide me with the exact model that you are interested in, its full MSRP, and the price that you are paying for it, I would be happy to calculate a sample lease payment for you to let you know what I think of the deal that you are getting. Talk to you soon.

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CarMan@Edmunds · August 2001

Mellis, I am sorry to say that I don't know exactly what Chrysler Financial charges its lessees for extra miles when purchased in advance. My guess is that they probably charge around $.08 to $.10 per mile, but you will need to call them directly or check with the dealership that you are getting your Jeep from to find out for certain. As far as the lease program for the Jeep Liberty goes, if you were to lease a 2002 Liberty Sport 4WD through Chrysler Financial right now for 3 years with 15,000 miles per you would have to use their standard lease money factor of .00335 and a residual value of 57%. The Liberty is actually a pretty neat looking truck. I have always liked the Dakkar concept vehicle that it is based off of. Good luck in shopping for your new Jeep and if you think of any other questions during the shopping process, please don't hesitate to come back and ask.

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CarMan@Edmunds · August 2001

Hello again Becky. I really don't see why a dealership would want to inflate a vehicle's MSRP for someone who is just going to lease it. Inflating a vehicle's MSRP and keeping the selling price constant will actually provide lower lease payments! Perhaps you should try figuring out the truck's MSRP using the pricing information that is available at another Web site, to get a second opinion on the data that you got here so to speak. I bet that Dodge's web site, www.4adodge.com, has MSRP information available on it.

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CarMan@Edmunds · August 2001

Becky, I just saw your second post. Toyota's lease money factors will vary on the 4Runner, depending upon what part of the country you live in. I believe that you mentioned that you are in Florida. Toyota does not currently have any special lease money factors on this truck in the Southeast Region that I am aware of. So if you want to lease one through Toyota Financial Services, you will have to use their standard lease money factor which I believe is around .00330 for Tier 1 credit customers. The TFS 36 month 15,000 miles per residual value for a 2001 4Rummer SR5 2WD is currently 57%.

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CarMan@Edmunds · August 2001

Matt, Volkswagen recently discontinued its supported lease money factors for 2001 model vehicles. So if you were to lease one through them during the month of August, you would have to use their standard lease money factors. According to my calculations, a lease of a 2001 Beetle GLS with an MSRP of $19,925 and a selling price of $18,612 through VW Credit for 3 years with 15,000 miles per during the month of August should have a zero down, pre-tax monthly payment of around $294. It is hard to say why the dealership is quoting you a different payment. It may be because they are marking-up VW Credit's base lease money factor for this car. Of perhaps they are adding tax or the acquisition fee into the equation.

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mdag25 · August 2001

Thanks for your help Car_Man.. Do you feel that I am getting a pretty good sale price at 18,612 on a car with an MSRP 19,925 or because it is a 2001 there is a little more room to work.

I also believe that you are right about the marking-up VW Credit's base lease money factor for this car and/or they are adding tax or the acquisition fee into the equation. I haven't seen all of the numbers on paper yet but I will confirm. Can you tell me what money factor you used!!!

Thanks again. You have been a great help!!

Matt

novatt · August 2001

Sorry for the confusion.

Drive off fees are what it is going to cost to get it out off the lot and into my hands

So Tax (3% Viriginia) 1119.75 + (first month) $575 + license/registration = ~$1700.

When I wrote "1700+" what I meant was that it was $1700 and change and NOT that tax, licenise/registration and first month were on top of the $1700.

Carm_man: I will get exact final numbers and see if I can work on the money factor with the dealer. Thanx again.

moorejwm · August 2001

Last week(1701), I ask for lease info on
Suburban, Expedition, and Excursion (2001).
Perhaps I missed the reply(s).

Could someone provide me with current
information for these three vehicles.
3yr/45K.

Thanks

novatt · August 2001

It pays to ask questions and do your research.

Knowing what you want and what it costs certainly makes dealing with salesmen more pleasant.

My final numbers (on approval of credit) are

Audi TT Quattro Coupe 225hp w/performance and Bose stereo packages
MSRP - $39325
Negotiated Price $36,800 (down from original $37325)
Money Factor 0.00305 (down from 0.00330)
No money down.
$490 Lease acquisition fee (all audis have this if you are leasing from Audi)
Residual is 61% of MSRP ($23988.25)
36 month lease with 15k miles/year

Tax, license/registration, and first month = $1746.89

Monthly payments of $556

Supposedly the GM wasn't happy about losing the markup on the money factor or the extra $500 on the price but knowing what the Audi money factor was (thanks Car_Man) and pointing out what cars are going for in the area (namely $1500 over invoice).

I know I didn't get a great, killer, really socked it the dealer kind of deal. But I think I got a very good deal that was good for me, and fair for the dealer and with a minimum of hassle (2 hours with the salesman with about 45 minutes of that BSing about cars and Audi's in general).

I put $1000 deposit (refundable) down since they are acquiring the car from another local dealer and should have it by the end of the week.

Thanks again to all that responded and Car_man for the very accurate and timely info.

pdqgp · August 2001

if the numbers below are what the dealer gave you and what you were using....check the residual....typcially they are not in decimal form and the $11,595.58 represents a residual of 58% which sounds more in line with such a vehicle on that lease vs the 62% indicated.

In my opinion at reviewing the numbers and using the 58% residual....it appears they are selling you the car at list and have an aquisition fee of probably $500 factored into the $337 payment.

be careful

tim

36 months, 15k a year,first payment only.

MSRP $19,925.00
Selling Price $18,612.00
Acquisition Fee $0.00(unsure)
Down Payment (0)
Term 36
Residual % 62.3%
Interest Rate (MF x 24) 6.6936%
Amount Financed (Cap Cost) $18,612.00
Residual Dollar Amount $11,595.58
Depreciation Fee $
Lease Fee $
Documentary Fees $
Monthly Payment + Tax $337.36

pdqgp · August 2001

Congrats on the new TT. Looks like you got a fair deal and that's what counts. A win win actually....you got a good deal the dealer made some money and hopefully the car will put a smile on your face daily.

Just as a note for others....it's fairly common if not practice for the dealer to mark up the rates on both buys and leases. There is more of a limit to this on leases than the limit on financiing though. It's a profit center for the Finance and Insurance Office and part of what pays them for doing the paperwork and what not.

Six and one half to the dealer really as once the deal is booked, the Gross Profit is added together and any adjustments to the Sales or Finance Dept. can be made afterwards.

tim

CarMan@Edmunds · August 2001

Given the fact that there is Dealer Cash available on all 2001 Volkswagens right now, I definitely think that there is a good chance that you will be able to negotiate a lower price than the one that you mentioned in your post. In answer to your second question, the lease payment that I calculated is based on VW Credit's base standard lease money factor of .00275 for a 3 year lease of the 2001 Beetle. I am glad that you have found my responses so helpful.

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CarMan@Edmunds · August 2001

You're welcome, Becky. Make sure to come back and let us know how everything turns out in your quest for a new SUV.

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CarMan@Edmunds · August 2001

Moorejwm, the lease programs for both General Motors and Ford can vary depending upon what part of the country you are in. Please let me know approximately where you live. As soon as you do so, I would be happy to provide you with an idea of what the lease rates and residual values for the trucks that you are looking into leasing should be like. Talk to you soon.

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CarMan@Edmunds · August 2001

That's great, novatt. I am glad to see that you were able to get them to lower the TT's lease money factor to the Audi Financial Services Base rate. Most consumers may not have even noticed that the rate was marked-up. You were very wise to research your deal by visiting this discussion. It seems to me as though in today's marketplace where consumers are often more educated about dealer invoice prices and incentives, not to mention the fact that automakers keep cutting the margins on their products, that dealerships are turning to other sources of income like the marking-up of lease money factors more frequently than they had a few years ago.

Enjoy your new TT. It certainly is a great looking ride!

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mellis · August 2001

Thanks for the Liberty info. The dealer is trying to tack on an additional $300 "port fee" that he says is on the invoice. I have asked to see the invoice with no luck yet. I have not heard of this fee on Jeep and it is in addition to the $585 destination chg which is legit. Do you know anything about this? Thanks!

hiwaysanity · August 2001

Car_man, I am considering leasing a 2001 BMW 325 5M, or alternatively a 2002 Passat GLS 1.8t 5M. What numbers do you have in Massachusetts for these vehicles (residual, MF, dealer/customer cash?) Edmunds shows a ubvented lease on the 325 @$316/Mo. + tax. Any info on that?

maxwella11 · August 2001

Hi Car_Man: I was set to hold out for a '02 TT roadster (225-hp), but now am wavering.

Can you give me the resid/money factor numbers for a '01 lease?

Also, can you give me your best guess on the residuals/money factor if I do wait for an '02? I won't hold you to anything, of course--just your educated opinion.

If the '01 is a better deal, I may just have to take one of the ones stacked up at my local dealer.

Thanks!

moorejwm · August 2001

Carman,

I am located in the midwest. Looking for lease info on Suburban and Expedition.

Thanks

CarMan@Edmunds · August 2001

Mellis, I personally have not heard of the "port charge" but that does not mean that its not a legitimate expense for the dealer that you are dealing with. There are all sorts of fees out there that some dealers attempt to tack onto vehicle prices. I usually recommend to community members that rather than concern themselves with these little fees, they should concentrate on the big picture, the out-the-door price. If you comparison shop at a couple of dealerships for the total cost that you will have to pay to drive off in the car or truck that you are interested in, it won't matter what sorts of fees they try to cloud the picture with. You will be able to buy the truck with the lowest total cost, provided that you feel comfortable dealing with them. From what I hear, the Liberty has pretty slim margins and is actually selling relatively well right now, so even though you will probably be able to negotiate some sort of discount on one don't expect much.

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CarMan@Edmunds · August 2001

Hi there hiwaysanity. I would be more than happy to give you an idea of what the money factors and residual values for these cars should look like right now. However, it would be a big help if you could let me let me know how long you plan on leasing for and how many miles per year you want to be able to drive without penalty. Talk to you soon.

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hiwaysanity · August 2001

Sorry, left that out. Looking for a 3 year, 10,000 mile lease.

im_brentwood · August 2001

Well..

I'm not a DaimlerChrysler dealer... But, I'd ask to see a copy of the invoice. If it is on the factory pre-printed invoice, then it is a charge that the manufacturer is charging to the dealer as part of their cost of the car. (Advertising and such are charged by the manufacturers, not dealers) and is in virtual certainty a legitimate part of the vehicle's cost and should be taken into factor when negotiating on it (I.E. $500 over invoice might be $300 higher than you had expected)

If it is not on the invoice, then they are probably making it up and it is something you should try and negotiate.

Car_Man is correct on slim Jeep margins. In the South Florida market (Palm Beach, Broward, Monroe and Dade counties) Chrysler had around $350 of advertising for a while on Wranglers. If I remember right, certain base Wranglers only had something like $275 of markup in them!

Hope this helps

Bill

mellis · August 2001

Thanks for the info. The port charge was bogus. It was not on the invoice. I walked from the dealer and will check another on Sat. I'm figuring no more than a $500 - $750 discount.

CarMan@Edmunds · August 2001

I certainly can understand why you would want to get this car as quickly as possible, maxwella11, in my opinion it's awesome. Here is the info that you're looking for. If you decide to lease a 2001 Audi TT Roadster with the 225 engine for 3 years with 15,000 miles per through Audi Financial Services prior to September 5th the lease money factor and residual value should be .00240 and 62% respectively. It is tough to say what the residual value and lease money factor for a 2002 model will be like. I can tell you though that I keep hearing from numerous dealers that there are tons of TTs out there. It definitely would not surprise me if Audi lowered the lease money factor on the 2001 model even further or possibly even introduced some sort of cash support on the 2001 version of this car when they come out with their new programs on September 6th. That may end up being the best time to get a TT. Of course, it is difficult to say what a manufacturer will do with its incentives programs with 100% accuracy.

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CarMan@Edmunds · August 2001

Thanks for the additional information, moorejwm. General Motors is not providing any lease rate support on the 2001 Suburban that I am aware of. So if you decide to lease this truck through General Motors Acceptance Corp., you will have to use their standard lease rates. The GMAC standard rates will vary depending upon what dealership you go to and how good your credit is. If your credit is in good shape and you go to a dealership that deals almost exclusively with GMAC you should be able to use a base lease rate of 6.85%, which is equivalent to a lease money factor of around .00285. Also, the 3 year, 15,000 miles per residual value for a 2001 Suburban leased through GMAC is currently 48%. You may actually find that there are other banks out there which have better lease programs on this truck than GMAC does right now.

As far as the second truck that you are interested in goes, I believe that in most parts of the country Ford Motor Credit is providing a 36 month lease rate of 5.25% on the 2001 Expedition. That is equivalent to a lease money factor of around .00219. The 36 month 15,000 miles per residual values for this truck are as follows: 43% for the 2001 Expedition Eddie Bauer 2WD / XLT 4WD, 42% for the Expedition Eddie Bauer 4WD, and 44% for the XLT 4WD.

This post should answer all of your questions, but if you think of any others, please don't hesitate to ask.

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CarMan@Edmunds · August 2001

No problem, hiwaysanity. If you choose to lease a 2001 BMW 325i through BMW Financial Services for 3 years with 10,000 miles per prior to September 4th, the base lease money factor and residual value should be .00275 and 62%. If you lease a 2002 Passat GLS 1.8T through VW Credit for the same terms prior to the same date, the money factor and resid should be .00270 and 61%. As you can see, these two cars have remarkably similar lease programs available on them right now, so your decision on which one to get really all boils down to which one you like better.

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im_brentwood · August 2001

What I figured.

Advertising charges usually are legit, but the only car I can think of with a port fee is a VW (And that's nationwide).

Good thing you walked.

Bill

max63 · August 2001

Carman, can you give me the money/res on a four lease of a c240, both 12k and 15k miles. Thanks for your help, going shopping tonight!

CarMan@Edmunds · August 2001

Max, excellent choice in cars. I really like the new C-Class. If you lease one through Mercedes-Benz Credit Corp. right now you will be able to use their base standard lease money factor of .00329 for 36 months (let me know if you are interested in a different length lease). The 2001 C240 has 3 year 15,000 and 12,000 miles per residual values of 64% and 66% respectively. Let me know if you are interested in the 2002 model and I will give you its resids too. Good luck in shopping for your new car.

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