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Thanks again for the information ... the list of leasing companies is great information in and of and by itself ...
The reason I asked is because I'm trying to help out a friend with a credit situation ... we were wondering if it was possible for someone with better credit to open the lease and then transfer it over when the credit issues were resolved (as there would obviously be a credit check involved in a transfer) ...
Thanks again for all your help!
As always thanks for info. Your answer is just what I was hoping for, that there is a provision to do so.
Gary
I am going through a leasing company for my new car. Can you tell me the average "profit" that they should make on this deal? The selling price of the car is twenty two thousand and he says he is making twelve hundred. Since he is both the salesman and finance man, does this sound fair? Too high? Any advice would be very helpful because I need to close this deal on Wednesday.
Thank you.
http://www.detnews.com/2005/autosinsider/0504/07/B01-142587.htm
I just saw an ad on tv for the G6 lease for $210 per month for 36 months, and you are free to return the car anytime before the first 12,000 miles for no additional cost.
Friday I am going in to negotiate and order a C280 4matic. The salesman seems reasonable (might be a front, but who knows), but basically, since there is no pricing on this model yet, he said we would negotiate on the current C240 4matic basis and then increase the price by the same percentage as the price of the car increases for 2006 vs. 2005. Sounds fair to me.
But I am going to lease this car, and I am confused. Since the car won't arrive in America until sometime in September (or even early October), I can't really negotiate lease terms now, can I? He said they can't lock into an interest rate or lease term so early, as money factors change and there is special incentives on C240s that may not apply to C280s.
I am planning on a 39 month lease, and I drive under 8000 miles a year, so 10,000 miles a year would be fine.
But can I lock them into a residual now even though the final lease terms can't be set until right before I leave for Germany? And since the car is discounted 7% (and I am planning on getting $1000 off that, based on TMV), is the residual based on the US price or the EDP discounted price? They need to approve me now before I order for their own security, so shouldn't I also get some security on my side of the transaction?
Also, since i will be picking the car up in Germany the last week of July, but won't get it until 6 weeks+ later, how does this work in leasing? Salesman said they can extend the lease one month and not charge rent the first month since you don't have the car, but still, I'm paying for at least 2 weeks of rent that way without having the car. Doesn't negate the discount, but lessens it.
Finally, my lease is up on September 3rd on my current Mercedes, and this can be extended at a pro-rated basis until the new car arrives, but if I commit to using MBCredit, can I demand that they not only waive the lease termination fee but also the acquisition fee on the new car? Is this kind of demand common for "loyal" customers?
Thanks in advance for your help. :confuse:
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As far as the 2005.5 Audi A4 goes, you are right it is a fairly expensive car to lease right now. Dealers have been complaining to Audi about how expensive the 2005.5 A4 and new A6 are to lease lately. I think that Audi will eventually have to cave in and significantly enhance its lease support on these models. If you feel as though there is not a lot of competition for your business in your area and that you would be better off leasing this car from a dealer in a different city or state, you certainly are allowed to do so.
Most banks, including I believe Audi Financial Services, do allow consumers to pay for their entire leases in advance. Doing so does not eliminate the need to pay interest, but it does reduce the interest rate that is being used to calculate the interest portion of your lease cost. I am not sure of the exact money factor reduction that AFS provides for pre-paid leases. You will have to ask a dealer to find out. Once you know it, you can multiply it by 2400 to see an approximate interest rate equivalent. This will give you an idea of whether it is a good deal to pre-pay or not.
A number of manufacturers offer lease programs on Certified Pre-Owned vehicles, but the deals on CPO leases are not always that much less than leases equivalent brand new models. How good a deal a CPO lease is depends upon the amount of support the manufacturer is providing on it, if any.
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If you were to lease a 2005 Acura RL through American Honda Finance Corp. right now for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00240 and 56%, respectively.
I suspect that Lexus dealers are still getting pretty close to full MSRP on the 2006 GS 300, but I have heard about fairly heavy discounting on 2005 Acura RLs in areas where there is a lot of competition.
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For now I can give you an idea of what the lease program is like on this car. According to the latest information that I have seen, if you were to lease a 2005 Honda Accord LX 4-cylinder through American Honda Finance Corp. for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00038 and 51%, respectively. You should be able to get this car for fairly close to dealer invoice, given the dealer cash that is available on it right now.
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Ford seems to providing more dealer cash on the '05 Freestyle in the Northeastern U.S. than it is in the rest of the country. I believe that there is a total of $1,500 dealer cash on this vehicle in your area right now. I am pretty sure that this cash can be used in conjunction with Ford Credit's lease program.
The lease program on the Freestyle Limited is a little better than the one that I just mentioned. Its lease rates are the same, but its residual values are 2% higher.
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Dennis
The quotes i got were mostly $1000 down (first, dmv, sec) and then around $520 monthly for 36/12 K lease. If you raise downpayment to $2000, it drops to around 500 or so.
Both of these seem a bit high to me as well so i decided to wait a little.
The MF rate for the TL with NAVI is 0.0024 which seems way too high considering my credit history. I hope this rate drops in May or Dealers will be willing to deal on these, since many are way overstocked.
I am in exactly the same situation, I like the TL, but will have to look at the G35 more closely if i cant reach acceptable deal. I still have 1.5 month left on my lease so its a little easier to negotiate.
Acura dealers - avoid Paragon in Queens (Masters of bait and switch). The rest are pretty much the same. (Tried Park Ave Acura of NJ, Valleystream Acura, Westchester Acura, Rallye Acura, Acura of Manhattan). Acura of Bedford Hills initially said they would do my offer ($900 down (f+dmv+sec) and then $480 monthly for 36/12K) but then i asked them to email papers to me first (before dealership visit) and never heard from them again.
Also Park Ave Acura replied yesterday that they have rates of 3.9-5.9% (AHFS rate is about 5.7% now). I told them i still have a time on my lease and offered to provide data to run me for the 3.9% rate (apparently some other bank). The dealer replied for me to wait till may and promised to provide May AFHS rates on May 1. Apparently (my guess) their 3.9% bank wont lease in NY (This dealer is in NJ even though the name is "Park Ave").
Hope this helps you.
Thanks for the correction on my calculation. Using the residual and the money factor you quoted me, I just can't get to the payment you quoted me using the various calculators there are....not sure why. So now I have another question for you....what happens to the residual and money factor on this car if you go to 39 or 48 months? Or, could you just tell me what the payment would be?
Also, what is going rate/residual this month on Accord EX V6 Sedan W/Nav 15K 48 Mos? Assuming MSRP of $28,850 but a selling price of $25,500, what would payment be? I know 48 mos is longer than suggested, but right now,payment is everything to me,and keeping the car an extra year would actually be a good thing for me.
Which forum would I search to find out if there is a decently priced, exciting to drive (if it exists) car that has some pep, and has nav available that will last 3-4 years without breaking down? Does it exist? Love my toys....
Thanks
Chigirl
I meant to ask. how much difference is there when dropping down to the 4-cylinder version of the Accord EX-L w/Nav sedan...the MSRP is a bit lower (26,600) and assuming I could get it for around invoice (24,000), what would a payment be for either 36 or 48 months, 15K miles? Would getting a manual tranny change the payment? I love those so much....MSRP on those is about 800 less...
Thanks for your help, you rock! This is a fun place to hang out.
Chigirl
I am in the last 5 months of a BMW 330i lease. I definately need more space , probably more than the new 3 can provide. Before I go look at things like Maxima's and Murano's I have a question I've been looking for advice on for a while....
i have seen all over these lease assumptions. Lease trader, Lease swapper etc... Can you offer any advice in regards to these being safe and resonable or not? And would you personally ever consider such an option?
Thanks,
djocks
Now, in my signed lease contract, it states that I can terminate my lease early by paying a $350 disposition fee, plus the amount by which the Adjusted Lease Balance exceeds the Realized Value of the Vehicle. When I called BMW Financial Services, they said that this was no longer an option and my only choice is to pay the disposition fee plus all of the remaining monthly payments. How can they change a signed contract after the fact, and what legal rights do I have to force them to comply with the original contract?
Thanks,
Dan
Call BMWFS back and find out your pay-off.. then, go to your local BMW dealer and get an offer on your car.. The difference is what it will cost you to get out of the lease.. If the total of payments is less than this, then that is the cheaper way to go.. Leasing contracts are expensive to get out of..
My condolences on your father's passing, but sentimentality is expensive...
regards,
kyfdx
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500 Acq. fee...no security dep. The only other fee is the 1,200.00 fee for his profit from the bank??
He has been great to deal with so far and seems up front...but I just wasn't sure about that profit.
Thanks
Be sure that BMWFS gives you an itemized list of the charges that make up the lease. A lot of times the lease bank will include sales tax in the buyout - since you told them you want to buy the car. If you get a dealer (BMW, CarMax, or other) to buy your car then no tax will be due - so you need the breakdown. Also, there may be early exit penalties in the lease - and extra charge for buying out before 1/2 way or some other steps. It could be if you keep the car another month or two and make the payments that the penalty would be reduced.
Finally, if you can't get a dealer to buy the car where you don't loose your shirt you can sell it yourself to a private party for more money. You will have to find a dealer or broker to handle the paperwork for you to make it legal and avoid double tax. I have had a dealer do this for me for as little as $300.
Dennis
Please provide current lease factors for the Lexus LS430 w/ modern luxury package and smart access ($63,234 MSRP / Sell price around $55,234) for 36 or 48 months w/ 15,000 miles with the residual % for each. I am hearing the 0.00155 lease factor is no longer being offered by LFS as it was in Feb/March.
Thanks, Don
Another one for me please!
Can you give me the 36 month, 10k (and 12k too) mile/yr. money factor and residual for this car?
Also, what is the acq. fee and lease rebates available on this car?
Are the numbers different for the X model?
This is in NJ.
Thanks - Damon
Thanks in Advance
NG
1) Acura MDX Touring AWD w/DVD - MSRP $41,795.00, Cap Cost $39,398.00
2) Lexus RX 330 FWD w/NAV - MSRP $46,503.00, Cap Cost $42,346.00
Can you show me the payment, residuals, and MF for each?
Thank you.
You might want to look at the Acura RSX Type-S. The lease terms are good and they will probably give you a break on the selling price as well. A major drawback is the expensive insurance, so check this aspect out before buying. Check Car_man's details on this lease in msg #18741 in this discussion.
Good luck.
Every other car I am now looking at buying (the TL, Maxima, etc) all have lower insurance premiums than my RSX and they all cost $10k more! The amount I would save in insurance by having either the Maxima or the TL would just about offset the higher payment on the car itself!
Anyway, I am looking at leasing because it is of course so much less expensive, but with the various residuals and desperation of some of the dealers, the deals are all over the place right now. I'm trying to find the best bang for the buck under $400 a month, no money out of pocket, fun car to drive, lots of pep, preferably with nav (my hubby really likes it), willing to go 48 months if I have to. Believe it or not, like my 04 Accord V6 sedan w/Nav (my daughter is getting it), and wouldn't mind getting another if the deal was right, just would like to get a manual tranny in a car if I could (they don't make it with the V6, only the I4, which I haven't driven)...car_man--any numbers on that Mazda S for 48 months?
Thanks guys!
Thanks for your reply-
The MRSP on the 2005 Honda Pilot EX-Leather is $32,320 (listed on Edmunds).
Please let me know if you think it's a good deal and/or what might be better.
Also, do you think there are hidden charges that the dealer did not list (destination charges, gap insurance...)-
the dealer said the below was a breakdown of "all" charges.
Thanks so much for your help- I would like to go into a dealership tomorrow (thurs) or friday.
-Betsy
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orig message:
I've been given the following quote from a car dealer:
2005 Pilot EX-L
36 months
15000 miles/yr
$0 down
8.75% tax rate (Nassau County Tax, NY)
427.14 per month for 36 months. Tax included in payment.
Due at signing:
1st month = $427.14
MV FEES = NY State Inspection $10
NY State Tire Waste $12.50
DOC FEE (Title) $45
Registration (new) $125 (approx)
Registration (xfer) $30 (approx)
Money Factor = .00154 (approx APR 3.7%)
Residual Value = 58% = $19044.30
Leased is based on a selling price of $29179.00
Is this true?
Thanks for your help.
Thanks, I appreciate your help with this.