Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/25 for details.
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/25 for details.
Options
Lease Questions - Ask Here
This discussion has been closed.
Comments
Both the I-6 and the V-8.
36 and 48 months.
12,000 miles/year unless they have a lower option.
Thanks
Thanks again... I'll give them a call today and see what the price includes.
I'm not saying I can't put the car seat on the passenger side, but my wife likes to have the seat all the way back... and she's only 5'4". But, oh well... I'll check if there is much of a hit, I might just pay the difference and get this over with.
I appreciate your input.
Just pinging you again on Infiniti lease details on an Infiniti G35x. (Mine would have Premium Package C) I'm leaning towards a 39mo 15k lease right now...
But would be happy just to know the buy rate money factor - and residual value amount.
Thanks as always
What would be a good money factor?
What kind of residual can I expect after 36 mo, 39 mo or 48 mo? at either 15K mi year or 12K mi per year?
I drive between 12K and 15K mi year so which would you recommend?
Are there any incentives or deals out there on the LS430 right now?
THanks for your help!
Adrian
Should I be aware of the money factor and residual? Are there special rates new for April? And I'm in Texas, so does that mean I need to pay the entire sales tax amount up front? If so, is this done at the dealership when I sign the paperwork or afterwards? Anything else I should know? Thank you so much for the insight...
I am very suprised they would price it so close to invoice and then give you the buy rate on the lease (though this is not a SUPER low rate). But since you got both the truck for just over cost AND the base rate that makes for a great deal.
Enjoy your new SUV!
Dennis
I parked next to an H6 3.0 Outback this morning. It sure looked BIG - compared to my S2000 :-)
Dennis
Even a Mini is bigger than the S2000 ;-)
regards,
Ben
36 & 39 months, 15,000 miles/year.
Ernest
Also still interested in the G35x, both the base model and the one with Premium Package C.
Please give me the money factor, residuals, and any incentives for the following terms:
36 months; 12,000 miles/year
36 months; 15,000 miles/year
39 months; 12,000 miles/year
39 months; 15,000 miles/year
Thanks!
Ernest
Can you give me the new money factor, residual, and any dealer cash for the following vehicles for April?
Acura TL (36 & 39 months at 15,000 miles/year)
Acura MDX (36 & 39 months at 15,000 miles/year)
Honda Accord EX-L V6 (36 months at 12,000 miles/year)
I know that the money factor is supposed to stay the same for the Accord, but I'm wondering if the $400-$600 dealer cash has gone away for good, and if the 54% residual has changed.
Thanks,
Ernest
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
I am looking to get a Mazda Tribute S lease w/ package 3 in the next week. The MSRP is $27,045. Looking at a 42-48 month lease at 12k miles per year and around $2000 total out of pocket at signing.
Do you have any info on the monthly payment, MF incentives, etc (OH sales tax of 7%). I see Mazda has a $3500 rebate program for sales - would that apply to leases as well.
Appreciate the help
You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". One of our most knowledgeable community members, Terry, frequents that discussion and he is often kind enough to give community members who give him an accurate description of their vehicles with his opinion on their value. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Thx
Most states only allow for the lessee or a dealer/broker to be the only ones who can DIRECTLY get the title of a lease vehicle. If you were to find a buyer for your truck and try to sell it directly to them, you would have to pay the sales tax and then they would have to pay sales tax again for the same truck.
It varies from state to state - but in just about any place you can't sell off the lease to a 3rd party w/o help from a dealer or tax is due.
I have managed to avoid turn in charges on my past leases by finding a buyer for the car at lease end and paying a licensed dealer a few hundred to handle the transaction. The same should be true if you get a dealer to "buy" your lease vehicle by taking it in on trade.
Dennis
Thank you.
hpowders
Adrian
Adrian
I'm actually in the process of checking all those things you mentioned. Thanks for the links too, the Real World Trade-In Values will come in handy ;-)
The Accord money factor works out to < 1 % - and you should be able to get the car for close to or below invoice. No $600 dealer money for April (so far) so the prices may be a little higher than March - but a new Accord for invoice or less with < 1% money would be a "hot deal" for sure.
The LX deal calls for the car to be about $600 over invoice and a $1499 cap cost reduction (out of pocket) due at signing. Last month I negotiated the price down to $900 under invoice ($600 under counting the dealer fees) so I could do the lease deal of $199 per month with $0 cap cost reduction. Pretty sweet, I thought!
The Pilot deal is not as hot, but still a pretty good deal if you can afford the gas (17mpg city, 22 highway) and the cap cost reduction.
Dennis
What is the Money factor and Residual for the 2005 Mini Convertible and the S Convertible.
I am interested in a 48 month 15K lease for both Cars. Also does BMW have a baloon rate for 4 years.
Thank you
I too think that Accord LX lease deal of $199 per month with $0 cap cost reduction was sweet!! Can you tell me if you negotiated the sale price down and then told them you wanted to lease it or were you up front in telling them you wanted to reduce the cap cost amount? I'm going this week to try to get the same deal as you got!
TIA
I'm thinking of buying my leased car. The lease is through Bank of America. The residual and private party market value are fairly close, but I would like to get the leasing company down. Should I be comparing to the private party value, and does Bank of America typically negotiate on the residual value? Thanks.
MSRP: $16,410 + $515 destination charge
Invoice: $15,514
TMV: $16,006
My Current Negotiated Price: $14,995 + what ever doc fees they are going to try to charge me
Residual of 56%: $9,478
Money Factor: 0.00136
Length: 36Months
Miles: 12,000
Money Down: $0
Acq Fee: $595
Security Deposit: $225
My current calculation $203.87 a month + TTL.
Does this sound like a good deal so far and should I keep pushing for lower?
Also, Carman can you verify the MF and residuals I'm using are correct?
Thanks a lot guys, your a great help!
1) Negotiate the price of the car - get your best price. Know dealer cost and any incentives. Check Edmunds TMV for your area and carsdirect.com pre-negotiated prices.
2) Then negotiate your trade in, if any. Know Edmunds trade-in value and kbb trade-in value. You got a wholesale price for your new car, so you will expect the dealer to only give you wholesale for the trade. You are probably better off selling the car than accept wholesale.
3) Then tell them you want to do the lease - you will know from CarMan here what the "buy rate" money factor is so you can be sure they don't jack it up on you. This Honda lease requires no "participation" from the deal (i.e. money) so you should get the lower possible price AND the lease w/o a problem.
Dealers charge different "doc" or other "Dealer" fees. So what I would do is get each dealer's bottom line price for the car, destination, and any doc/dealer fees. The lease acq fee, taxes, title, and tags should be the same. The dealer I got my wife's car from charges a hefty $298 doc fee - so they had to drop the price OF THE CAR more than another dealer to get my business.
If you can bargain them down low enough you still have the $595 acq fee, taxes, title, tags, and security deposit. They will wave the security deposit if you let them bump the MF rate up 0.0001 (0.24%) - this puts it at just over 1.1%, which is still cheap. You can also roll the acq fee into the lease - why not at such cheap money. If you DO either (or both) the payment will be higher than $199. Also you have to add tax to the payment (at least in my state you do).
Where are you located?
Dennis
My lexus Dealer told me that the residual on a '05 ES330 just went down from 56% to 55% (36-months lease, 15k miles/year, base lexus model, no nav, no hdi).
Is this something that they are just making up to make more profit on the lease?
Also, do you happen to know what the money factor would be for a Tier II and what are the limits in the beacon score for that Tier. I have around 670 so I guess I'm Tier II.
I'm in FL, car MSRP is 33979.
Can you help me out with April '05 terms? Thanks.
It is normal for the residuals to drop as the model year goes on - in September of last year it MAY have been 59% or something, then as the model year unwinds they drop it in stages.
I don't know the money factor, since what gets posted is the top tier one. Some lease banks are pass/fail - if your credit is good enough you are approved and you get "the rate" - else they will not do the lease. I THINK Lexus does not work this way, however and does have different rates based on score.
Dennis
I have been given the following numbers and want to know if it is a good deal and if it adds up.
2006 ml350
MSRP $46,405
Purchase Price $44,102
Money factor .00250
Residual 59%- $27,376 for 39 months 39K miles
Monthly Payment= 607.57 with all taxes , bank fee, and first month upfront =$3721.02
Or 660.73 with only bank fee and first month upfront =$1600
Thanks for the advice!
I'm located in Charlottesville, Virginia (zip: 22901). There are a few Honda dealers within reasonable driving distance but it isn't a big city with one around every corner.
Luckily, I have no trade in to worry about.
Without any negotiation, the “internet price” right now is $19,034 ( price includes destination charge but excludes tags, title, taxes and processing fee), which isn’t bad but I don’t think that is going to get me in the car with close to $0 down, right?
Actual net capitalized cost $15,079.58. Dealer participation may affect actual payment. Taxes, license, title, registration, documentation fees, options and insurance extra. Total monthly payments $6,804.00. Option to purchase at lease end $9,478.00. $189.00 per month for 36 months $999.00 capitalized cost reduction. $1,983.00 total due at lease signing (includes first month’s payment, security deposit, capitalized cost reduction and AHFC upfront acquisition fee.
If you put the net cap cost, residual, and payment into a lease calculator and solve for money factor you get 0.00136 (3.264%). Which is what you show.
I assume you are rolling the acq fee into the lease? If I replace the "Deal" net cap cost with $14,995 + $595 = $15,590 I get $203.87. You your then pay $225 + $203.87 + doc fee + tax/title/tags at signing.
Sounds right to me - invoice on that car is $15,514 including destination and the carsdirect.com price shows $14,964. So you negotiated price is right there - as long as the doc fee is not too high sounds like a nice deal to me.
You COULD also look at the Accord LX deal - the money factor is much lower (< 1%) . The "lease special" is $199 per month + ttl. It calls for $1500 cap cost reduction but you may be able to negotiate all or most of that out of the price. That would leave you with $595 acq and security to get an Accord for $199. If you roll the $595 into the lease, the payments would go up to more than your Civic deal - but you get to drive an Accord for just a little more.
BTW, the buyout of the Accord at the end of the lease is just $1,856 more than the buyout of the Civic - which really makes the Accord deal look better if you think you might like to keep the car at the end of the lease (for yourself or a spouse or child).
Dennis
325i Sedan 36 mo/12k 57% 0.00225
325Xi Sedan 36 mo/12k 57% 0.00200
325i Coupe 36 mo/12k 59% 0.00100
325i Conv 36 mo/12k 62% 0.00225
325iT Wagon 36 mo/12k 55% 0.00100
325xiT Wagon 36 mo/12k 55% 0.00125
330i Sedan 36 mo/12k 54% 0.00225
330xi Sedan 36 mo/12k 55% 0.00210
330i Coupe 36 mo/12k 59% 0.00080
330i Conv 36 mo/12k 63% 0.00225
M3 Coupe 36 mo/12k 60% 0.00200
M3 Conv 36 mo/12k 62% 0.00225
525i Sedan 36 mo/12k 62% 0.00125
530i Sedan 36 mo/12k 62% 0.00125
545i Sedan 36 mo/12k 61% 0.00100
645i Coupe 36 mo/12k 58% 0.00265
645i Conv 36 mo/12k 58% 0.00265
745i Sedan 36 mo/12k 60% 0.00125
745Li Sedan 36 mo/12k 60% 0.00125
760Li Sedan 36 mo/12k 52% 0.00265
Z4 2.5i 36 mo/12k 58% 0.00200
Z4 3.0i 36 mo/12k 58% 0.00200
X3 2.5i 36 mo/12k 59% 0.00160
X3 3.0i 36 mo/12k 61% 0.00100
X5 3.0i 36 mo/12k 60% 0.00125
X5 4.4i 36 mo/12k 60% 0.00125
X5 4.8is 36 mo/12k 55% 0.00265