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Can you tell me the numbers for the Legacy GT Limited Wagon 5AT for 24/24 and 36/36?
I was quoted the following:
24/24k 0 down: $597
24/24k 2500 down: 511
36/36k 0 down: $449
36/36k 2500 down: 438
The above numbers include Tags,title, + NJ tax.
24/24k = .0014 mf and 59% residual
36/36k = .0015 mf and 51% residual
This is for the above car + about 1k in dealer installed options. The money factor and residual seem much different than the prices you quoted for the legacy sedan.
Thanks for the help.
also got another dealer 475 for base model with roof rack,sidemolding and running boards. 3/36
sec and 1 st pyt upfront
deal wise is one better than the other leaning towards base model
I feel like the Infiniti dealer tried to pull one on me last night. He wouldn't tell me what residual or money factor he was using to determine lease so I was very skeptical. He just said they were set by a number of banks. Also, these figs did not take into account credit score or anything like that. Can you please review the specs below?
MSRP: $31,200
Sell Price: $29,750
Lease specs: 48 mnth/ 15k miles
Trade-in: -$4,600 (Hyundai Elantra GT)
Down payment: $2000
Mnthly payment: $460 + tax
One more thing, his mntly payment for 39 month/15k lease was in the mid $500's. Please let me know if this is what I should expect to pay or if the dealer was trying to rip me off.
Thanks!
-Morgan
Anyway, if you plug in the residual ($15,912) and just the "sell price" ($29,750) into a lease calculator I get $370.03 per month + tax! So without a trade and paying the first month, security deposit (if any) and acq fee up front you could lease this car for $90 LESS per month WITHOUT YOUR TRADE.
If I deduct $4,600 from the sell price I get $265.96 per month. If I take another $2k off (assuming additional cap cost reduction) I get $220.71.
So your feeling was right - this is a major league rip-off deal.
Bad dealer, no biscuit :-)
Dennis
Will the MDX lease program change in April, since their current $399 lease special runs through May 2?
I am from NJ, I just wanted to clarify: the 12K/yr per year 36 month residual is 64%, but drops to 62% for 15K/yr. The .00196 money factor stays the same.
Even though it probably is out of our price range, What is the money factor and residual on the 4WD Infinti QX56?
As always, thanks for all your help.
I went to a Honda dealer near me and i wanted to see what they can offer. The problem is my creidt is in tier 3. Not very good, even with a co-signer that has great credit. He said he can do the deal for me for $4500 down, which includes tax title cap cost reduction and extra money to lower the payments and bring me to a tier 1 credit rather then tier 3. I would pay $266 a month with $18 going towards and specific insurance for if the car gets stolen it covers my down payment as well. With normal insurance it only covers the cost of the car not the down payment. What do you think about this deal? Thanks!
I have an upside down trade-in. $4600 would be in addition to cap cost...trade-in value was $6000 (a bit lower than KBB or Edmunds) and I still owe $10,600 on it.
So, maybe not a "major" league rip off, but still thought figs were high using a few online calculators.
What do you think?
-Morgan
That is the only way to lock in the lease rates for March... Since you ordered, he may have already done so...
Also, if you are signing your lease 14 days before pickup, you probably won't be able to use May's lease numbers... You will have to use March (which are very good) or April's numbers (who knows?).
Call your salesman back, and make sure your numbers are locked... If you can't get the acq.fee lowered...well..it is only $200.. Getting the base money factor was much more important....
regards,
kyfdx
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>>Sell Price: $29,750
>>Lease specs: 48 mnth/ 15k miles
>>Trade-in: -$4,600 (Hyundai Elantra GT)
>>Down payment: $2000
>>Mnthly payment: $460 + tax
I missed the - in front of the trade, or thought it was a typo. With no trade and no cap cost reduction we were at $370.03, so if we add $4,600 to the cap cost we get $474.55 per month + tax.
That is a lot closer to what you have from them.
I am still not clear on what the $2,000 is - you call it "down payment". If you mean as a cap cost reduction then you would be at $429.30 per month. If you meant "out of pocket at signing" - and includes the acq fee, security deposit, and first month's rent, tags, and taxes then the payment the dealer gave you sounds OK.
Hyundai makes some really nice stuff now and the warranty (and some of the dealers) are first-rate. The residual values of their cars does not reflect this, however. Resale and lease numbers on them just are not great.
Dennis
If you have the $4,500 you could stick it in the bank and withdraw $125 each month ($4,500/36) to help pay the note. Then you could do the deal (in theory) with $0 down and payments of $373 ($248 w/o insurance + $125 from the bank) per month. No need for the insurance since you don't have any up front money in it.
Sounds like the dealer was trying to make the payment work out for you the same as the advertised lease. If you have that much money to put down, then save it and go with the higher payment. Have them run the numbers that way and see how it works out.
See if your insurance company covers GAP for free - if so then there is no need for the extra $18 per month if you can get a deal with little down.
The promo deals all call for "tier 1" credit and they never advertise (and in some cases do not offer) any alternative - so hard to know what is a "Fair" deal or not. In any case get the purchase price, any fees (doc, acq, etc), money factor, and residual before you sign anything and run them through a lease calc to be sure they add up. Way too easy to get ripped off with hidden charges if you do not.
Dennis
Trade in value of $2364 (2003 Ranger Edge EXT cab 4dr 3.0 and still owe $7400 on it) with an additional $1000 cash down. I am going in to a dealer today and would like a heads up. Thanks!
By the way..my credit is over 740
Unfortunately my deal did not yet go through, but I have spent my time finding better overall indicators to assess whether a deal is good beyond the MF, and the term, etc. So I came up with these 2:
Indicator 1: Deal Cost / Depreciation point -- For this one you add the sum of monthly amounts + inception fees and you divide it by the depreciation points incurred during the life of the lease -- It is good only for comparing different lease terms on the same car.
Indicator 2: Prorated deal cost / month -- For this one you add the sum of monthly amounts + inception fees and you divide it by the term of your lease -- This one is good to compare any lease to any lease independent of the term period as long as you have comparable cars per your goals.
So my question to you: Do you know of any indicators beyond the ones I listed above that allow you to do an overall deal assessment?
Thanks again.
My credit scores are in the high 500's and low 600's. The reason it is so bad is because of a recent Bankruptcy. My boyfriend has scores in the high 600's and low 700's. With our scores combined we are in tier 3. We do have the $4500 to put down because i sold my old car for $2000 and we have the other $2500. For us the monthly payment being low is a huge help because we are moving and the lower the better until we are stable in the new state, if you know what i mean. We will need the car for the new state thats why we HAD to buy it. Where i live right now a car is not really necessary but in the new state it is. Based on everything so far what do you think of the lease deal? I just want to make sure im not getting taken advantage of... Thanks so much!
I checked on the leasecompare site using a score of 600 and with nothing down (getting the car below cost) the payment would be $443/month for 36 months. With a lot down (close to $4k) the payment was $339 a month for 36 months. Money factor was 0.00570 (ouch). So in light of that, the payment you quoted for 36 months does not sound that bad.
Dennis
1) GS 300 - MSRP $46,800, sales price $45,900
2) M35 - MSRP $47,760, sales price $46,760
3) MDX w/NAV - MSRP $43,294, sales price $40,794
I am looking for 24 and 36 month leases with 15k miles per year. What other costs will be involved upfront?
Thanks.
36/36k 0.00210 MF 55%
Edmunds incentive page shows $4,200 in dealer cash on the 330i sedans.
Dennis
I have a couple leasing questions on the 2005 Honda Accord EX, 4-door, 4 cyl, with leather and navi.
The MSRP is $27,115, and the price a dealer in Cleveland, OH gave me was $25,750. The residual value he gave me on a 3-yr, 15,000 mile lease is $14,099. On the MSRP, that comes out to a Residual Value of 52%. Doesn't that sound low? And if so, what should it be? In addition, do you calculate the residual value off the MSRP or the price the dealer gives you?
Finally, what's the going money factor for a 3-yr. lease on this vehicle?
Thanks.
Thanks again.
This is from February - the last time someone asked.
car_man said:
"Here is the information that you are looking for, ereynihc. If you were to lease a 2005 Infiniti FX35 AWD through Infiniti Financial Services right now for 36 months with 12,000 miles per year, its base lease money factor and residual value should be .00179 and 60%, respectively. The numbers for an otherwise identical lease of a 2004 model should be .00163 and 58%.
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I was wondering if I could get some residuals and MFs assuming 3yrs/36k for these cars:
2005 BMW 325i Auto (there's also $2500 rebates!)
2005 Volvo S40 2.4i Auto
2005 Volvo S40 T5 FWD Auto
2005 Toyota Prius (I know you've said the residuals are low and incentives few, but mom really likes this car)
Thanks
Dennis
Dealer "doc fees" are another gotcha. The AHFS acq fee should be $595 as well. Make sure they don't inflate any of these numbers or the money factor. With the LX lease money at .9% and the EX money around 2% you might want to roll the acq fee into the lease - for sure on the LX deal since it is almost free money. There is a security deposit - your monthly payment rounder up to the nearest $25 increment (I think it is $25 for Honda, some it is $50). So if your payment was $219 then the security would be $225 (or maybe $250). You can have AHFS waive the security deposit by paying a money factor that is 0.00010 (0.24%) higher. Some folks like for them to have the deposit, but they don't pay interest on it so you can pay a little more each month and not give that to them.
All AHFS leases should include the $1,500 "we forgive you" damage waiver - up to $1,500 worth of nicks, dings, etc will be waived at turn-in. Also gap insurance is included in the lease - if the car is totalled or stolen will satisfy the lease payoff even if your insurance only pays "current market value".
Dennis
I posted awhile back about getting the base MF and residuals for the 2006 530i and they weren't available at the time. I was wondering if you have them yet since I have one coming into port on 4/6 and the dealer quoted a base rate of 0.00270 with a 62% residual (36 months, 12k/year). This seems high compared with the 0.00125 this month for the 530i and 545i. Also, do you have the April rates for the 2005 545i?
Thanks,
-Eric
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According to the latest information that I have seen, if you were to lease a 2005 Toyota 4Runner SR5 2WD through Toyota Financial Services in its Los Angeles region prior to the end of the month for 36 months with 15,000 miles per year, its base lease money factor and residual value should be .00131 and 60%, respectively. Its residual value for a lease with only 12,000 miles per year would be 2% higher. Individual dealers do not have the authority to pad deals by altering vehicles' published residual values.
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You should be able to lock in BMW's current lease program on this car. The advantage of doing so is that when your car arrives next month you can either lease it through the program that you locked in, or take advantage of BMW's new program if it is more attractive.
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