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Nice car, are they dealing on price yet
Dennis
My wife wanted one with the super prices and lease deals, then she saw the MPG on the window sticker
Hopefully gas will get cheaper soon.....
Dennis
Dennis
Does the $498 payment include your 7% donation to the state?
Dennis
With apologies for any inconvenience, I need to correct one of the relevant pieces of information set forth in my original post about an hour ago. My sales tax rate is actually 7.5%, not 7%.
If you have already run my numbers using 7% sales tax, please be so kind as to run the numbers again by using 7.5% sales tax.
Many thanks.
David D
We're kind of all over the place with terminology... walking away, trading it in... I have a feeling you don't fully understand what's involved... kyfdx just told you, "sure you can trade in a leased car", and Terry told you, "you can't trade in what you don't own".... Of course, both are correct.
I'll try and clarify this stuff a little.
When you come to the end of the lease, you have an obligation to the lender. She owns the car. You fulfill this obligation by (i) giving the car back ("turning in", aka "walking away") or (ii) keeping the car and paying the "residual", i.e. the amount of money that was agreed upon at inception to be the car's value at lease end. Plus tax :-)
If you give it back, they make sure the condition is right (mileage, wear&tear) and charge you if anythying's amiss. If you keep it, they don't care if it's a burned-out wreck; you've paid in full, it's your car.
When you "trade it in", then somebody has to buy the car. That's either you or the dealer; it'd only be the dealer in the rare case that the car is worth more than the residual. This can happen on an Odyssey, or a Toyota Highlander, or some such ultra-desirable used car.
"I told her I would not walk away regardless, I have 3 kids and would get another car that day[..]"
You run the risk of getting all caught up in the lingo; "walking away" is just a euphemism for turning the car in. It's like Terry said, you gotta own it to trade it.
And by not knowing what exactly transpires as you "trade in" your car, and by focusing on avoiding the mileage penalty, you are giving up control of the deal, since you really don't know what the numbers are.
That can work out OK, but it's not how I would want to operate.
Good luck,
-Mathias
For some reason the sales rep will not give me this information unless I come to the dealership.
I believe at this time there is more room for negotiation on the GS300 than the GS430.
"On the rate... All I am trying to do is make it so we do not end up paying you to take the car. Looking at the deal that you worked out with Brook and Dennis you are getting the car cheaper than an employee could by the car.
After paying for shipping to get the car hear we are loosing money. I can do a bit better on the rate. I just want to make it so we are breaking even. The best I can do on the rate is .00185 which will put us at a TOTAL net of $100.00. Payment would be 432.88 with the $3500.00 down."
The MSRP for the car ( 2005.5 A4, 2.0T Quattro Sedan, Dolphin Gray, Premium Package, Cold Weather Package) is $34,670 I believe. The price quoted me is $33,305. Should the price that we decided on affect the money factor? or (APR for purchase). Should I believe him and settle for the 0.00185 money factor or hold out for what I have seen of the .00135 that has been available? My original post for this was #20145. This one is 3 or 4 questions later.... The car is sitting at the dealer with my %10 down to hold it so, a response as quick as possible would be appreciated. All the information so far has been very helpfull. I am not obligated to purchase or lease the car I have been told that if for some reason when the car arrives and something is not to my liking I can walk. Any helpfull suggestions and opions would be greatly appreciated. Thanks. Woody2408
I'm not paying that much for taxes.
Heidi
My advice is to politely back out of this deal--with this dealer--and start over when you have the appropriate information to make an educated deal.
Never believe a salesman when he tells you he is losing money on a deal. This guy reeks of BS...
Have you cross referenced your deal with other dealerships? Also, as an A4 owner in CT if your in the tri-state area I may be able to point you in the right direction (getting answers not haggling) from my own purchase experience.
I have been told that the dealer you turn it into can make an OFFER to AHFS for your turn in and that they will say yes or no. If you know your dealer really well you would probably talk to the used car manager and ask him about this. You know if most states sales tax is due on the residual? So if they gave you a purchase price it will be the residual plus this sales tax and maybe some title fees. So maybe it is not as high as you thought?
You should look at what you have, the miles, the condition and check the true market value here on Edmunds, KBB, NADA, etc and see how your residual (with no tax) compares. If it truly is not a fair price, then you might be better off to turn it in and get your son something else - or try to work a deal with the turn in dealer to buy it back.
Discounting lease buy outs used to be a hidden extra value in leasing - you work a good deal up front, get a low rate, then get another discount at lease end. Most lease banks carry residual insurance on lease now - if the car does not bring residual from a dealer or auction the insurance makes up some or all of the difference. The result - a lot of lease banks will no longer negotiate buy outs. Some have even turn over lease-end stuff to 3rd party contractors and these folks will do nothing to help you.
Dennis
Yes, you do not have to pay $0.15 a mile to the lease bank if you do not turn it in, but if you trade it in then the dealer will only allow for that car what it is worth wholesale. So if they residual on your car is $20,000 but it has 48k on (12k too many) then the car may only be worth $18,000 to the dealer. Well, how do you think the dealer will make up this $2,000 short fall for the purchase of your lease car? They will just stick it on top of your new deal so YOU pay.
So it is VERY BAD ADVICE for you to say "just treat it as a trade" - that might be a worse deal than just paying the $0.15.
You have to see what the car is worth with the miles and condition and IF it is worth more than the residual to a dealer (or someone you could sell it to) THEN you don't turn it in. If it is NOT worth the residual due to the extra miles (which is very likely) then you have to compare the value difference VS the cost of just paying for the miles - and do whichever is the better deal for you.
Dennis
If you need to get out right away, make the BMW take it or go to CarMax or something - but you will not get top dollar at either.
Dennis
and have been offered the .000135 MF. if you're worried about
getting an A4 w\ the packages u want and aren't in a rush, order one and in
2 months you'll have whatever you want on the vehicle.
Now on to the next one:
Can you share any info on the new Saab 9-7 Arc? I'm looking for MF and residual for a 36 with 12k & 15k miles
TIA
Chris
I just signed the paperwork on a 39 mo/15K yr lease on a GS430 yesterday. Details: MSRP $58,814, selling price $56,171, and the residual is $31,171. We played around with the money factor and a down payment because I wanted the monthly payment to start with a 7 rather than an 8 or 9 (ouch!). Consequently, the money factor is .00211 and I gave a down payment of an even $1,000 to get a monthly of $797. However, there is no security deposit (maybe because I qualify for Tier 1 finance rates?).
My first post - I used the information I learned on this Forum and hope its a good deal. In any event, it was a much more pleasurable leasing experience armed with the information shared here. Many thanks.
dcgasman
Mazda RX8 04
Regards,
dcgasman
I am interested in leasing a certified pre-owned vehicle (Volvo XC90). Can I lease a certified preowned anything? when buying, i recall i was supposed to look for dealer invoice # as my purchase price. what are the negotiating trick for LEASING a preowned certified - or anything else?
Thanks
Volvobyr
I assume the captive lease bank will also have lease deals, these may be better or worse than a 3rd party will do so you have to check it out and compare.
You can get a free and instant quote at leasecompare.com to lease the used or new car of your dreams.
Used leases can be a good deal if you get a really good deal on the front end and perhaps if you plan on buying the car off the back end. Otherwise, compare VS new - often with factory subsidized lease deals new is not much more.
Dennis
I am looking to help my sister out on leasing a 2005 Jeep Liberty Sport (option b package) with 15K miles for 36 months. How can I ensure we get the best deal?
I was thinking of buying the Consumer Reports New Car Price service. Is it worth it? Will it help me with negotiations? How can I ensure a deal that only requires the first month's payment at lease signing?
Is there a place to find a listing of current national, regional and local incentives?
Thanks,
SeaBass
Please provide the residual and money factor for a 2006 GS300 AWD w/ ML stereo, Nav, etc. (msrp is approx $51,500). The lease would be for either 36 or 39 months with 12K miles per year.
Thanks!
A 3rd party lease might provide a better money factor, but the residual is an abysmal 44% - so the payment is liable to be cheaper through Chrysler.
I have never purchased the CR package ($12?) - to me it is a waste of money since all this info is free on the Internet. BUT, since I don't KNOW what is in it I could not say for 100% sure it would be a waste of your money.
http://applications.edmunds.com/incentives/step1.jsp
It looks like there is a 0.0% finance deal for up to 60 months on some of the Liberty models AND some cash. I would think this might be a better BUY truck (with free money) than a lease truck.
Check on carsdirect.com with your ZIP code to see what kind of no haggle prices a dealer is offering in your area. This can give you a good idea of the range you can expect when dealing.
Dennis
If you DO NOT get NAV then the residual is 61%.
Are they dealing off of MSRP by much? I test drove the new GS and really liked it (except for the small back seat).
Dennis
Trade: '97 Maxima SE SR & cloth - value as trade = $5k
Lease: '05 Tundra SR5 Double Cab: -> MSRP $33,225 / Inv - $29818
options (invoice prices shown):
CC (captains chairs) - $559
OF (off-road pkg) - $748
DJ (single CD player) - $345
LD (limited slip) - $227
KE (keyless entry) - $184
PN (anti-theft sys) - $176
JC (overhead info display - temp, etc) - $128
I could get this vehicle for $229 mth with the $2229 + 9% tax (somewhere int he range of $700) advertised price down (essentially getting 1k of the options above for free, since the advertised special had a MSRP of 32, 100. I am right on this???).
I would also trade my vehicle in for the tax and the down payment. I would then like to apply the remainder of 5k (about 2k) back into the lease (dropping the payment about $55), making my payment about $175. What do you all think?
This is good to know. The dealer isn't marking up the MF (she quoted me .00192) and giving me a pretty good deal (at least I hope)!
The MSRP on the car is 37,880 and I'm getting the car for 34,874 (which I believe is $100 over invoice). The lease payment was quoted as $494, including NJ taxes (which worked out in my calculations). Is there anything I'm missing? Are there any parts of the inceptions that are negotiable? They are asking me for $2000, which includes a sec. dep. of $500.
I want to pick the car up this weekend, so I'm trying to button down the details.
Thanks so much.
dcgasman
All in all, sounds like a good deal.
Still waiting for the guy to respond to my inquiries who claims he got a GS430 for 3 years, 36,000 miles, non-nav, non ML for only $695 per month.
Must be married to Mrs. Lexus!
Dennis
I was wondering what the latest MF and residual are for the 2005 BMW X5 3.0. I am interested in a 36/39 month lease, with 15k miles per year.
Additionally, are there any incentives or lease support for the X5 currently? Anyone had any luck getting discounts? Dealers in MA seem unwilling to negotiate too much as far as I can see.
Thanks!!
Mosey on over to "Real-World Trade-In Values" and drop a full-blown description .. this way you can get an idea of what you might get trade side and a figure if you decide to go down Retail Rd ..... dealers don't use Kbb, Edmunds, Nada, CIA, Car's R us or the FBI, contrary to what Dwynne *thinks* .... in the far upper northeast they might use the Galves book, and in the rest of the country they use their own regional Black Books and the auction reports for that particular area ....
Terry.
I hope I'm not too late or agreed to a deal that is not as good as I hope...
Just agreed to a lease for a 2005 Infiniti G35 sedan with premium package and wood trim. 39 months, 15,000 miles per year. Leasing through Infiniti Finance. 59% residual. $0 down (apparently required bank fee of approx $500 is being rolled into the lease), 6% sales tax. I will be paying $458 per month.
I live in Indiana, but am purchasing the vehicle in Kentucky. Agreed purchase price for car is $32,679 ($400 over invoice) Sticker is $35,270
Did I get a decent deal???
The numbers you post ARE very useful for folks looking to trade in and are almost always lower than Edmunds or KBB trade in values - since comparing auction prices to anything else the auction prices will normally be lower. If the dealer is motivated to move the new car or you have something they can SELL at their lot (rather than rolling through the auction) then your numbers will likely be too low - or at least the person can probably get a better deal. If they have a Kia or something else the BMW dealer does not want on the lot, then your number will be about all they can expect as trade in
He wanted to get rid of his current ride without taking a bath, if he accepts auction type dollars for it most of us would consider that a bath.....
Dennis
0.00125 and 58% for 36/45k lease .
Folks are saying that the BMW dealers are marking up the acquisition fee (from $625 to $825) and marking up the money factor (by various amounts). I think user burgermac had some luck getting the truck itself discounted. Anything more than $1k off MSRP might be considered a fair deal - but there is more room to work, you just may not get a dealer to go lower.
Dennis
When I got home, I emailed the salesperson my worksheet on an X5 and came up with $684 per month pre-tax on a not so loaded X5 4.4 that would have to be ordered from the factory.
Cap. cost at $2000 over invoice which is $2458 off of MSRP, a fair offer in my opinion with gas prices up and SUV sales down. There were a ton of new X5's just sitting there on his lot. Needless to say, it's 2 days later and no e-mail from the salesman.
Plenty of other dealerships out there though.
I am considering leasing Audi A8L(2995). With MSRP about 72000. 2006 A8L is not far. My question is: What should be my lease rates in NJ? And second question: should I wait for 2006 to get better lease rates?
Thanks.
JK
I don't think you really have a grip on how the market works ... Subaru, Chevy, Audi, Lexus, Ford and "especially" Bimmer dealers look at the market around them, then they look at the trade ... most dealers use the auction figures as a basis for the value *minus" any conditioning .. and like Bimmer dealers, they want to be at least $400/$700 "back" of auction money "after" any work ....
In the case of Bimmer dealers .. they want to be back, waaay back of just average "book", they figure in the CPO, a little service and like most dealers, they are looking 30/60 days down the road - what's it worth then.? .. plus you have the cost of the transport, the auction fee, any detail work and rep cost if they have to cut and run ... that's why you'll never see a Bimmer dealer drop clean $$ on their own product ..... dealers use Nada/Kbb for the retail end, but the savvy dealers keep an eye on the market, that's why the books don't work for you or anyone else ....
I know you seem a little lost, so hopefully this makes sense and clears things up for you .....
Terry.
I am in the market for a 2005 G35 Coupe in the Los Angeles area. I would like Automatic, Premium package, trunk mat, and splash guard as accessories. My Fico Score is 770+. What would be the best lease rates in my area? 36 months/15,000 miles per year. $0 down
I am considering leasing Audi A8L(2995). With MSRP about 72000. 2006 A8L is not far. My question is: What should be my lease rates in NJ? And second question: should I wait for 2006 to get better lease rates?
Thanks.
JK
First off, great forum. I have used your advice to act semi-intelligent about leasing with the dealers. Very helpful. My question: I am negotiating a lease on a 2005 Acura MDX. MSRP $37,470. Negotiated price $35,200. I was given residual of 63%, and money factor of .00188. (security deposit being rolled in). I live in NY, so sales tax is 8.25%. My out of pocket is $1,600. Monthly payment quoted is $466. Sounds ok to me, but wanted your opinion. Dealer seems very straight up and doesn't appear to be hiding anything. Refreshing for a change.
Thanks for the help.