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First things first - KEEP UP THE GREAT WORK!
I am looking to lease an 05 Sequoia Limited, with the only option being with a rear spoiler and the 6CD in dash changer (but I believe this is standard on the limited). I live in Florida (Miami-Dade County) and want to get this deal done before May 31st. Toyota currently has a 1000.00 rebate on the Sequoia.
Can you tell me what the residual value and money factor should be for this vehicle? I also know that Toyota currently has a lease package for a base SR5 for $399.00 per month with $0 down for 48 months, 12k a year.
I am looking to lease my vehicle for 39 mths at 15k a year, $0 down (except `at month and incidentals) and want to know if it is possible to work my vehicle within this package, adjusting of course for the type of vehicle.
I calculated through Edmunds that the invoice on the vehicle I want is $39025.00 minus the $1000.00 rebate puts it at $38025.00. I was in a dealer the other day and the way they were structuring their numbers (without going into detail due to time constraints) was showing me invoice of the vehicle, reducing this number with the $1000 rebate, and then adding 3% for their profit.
Bottom line is I want to go in there tomorrow with numbers in my hand and say this is the deal I want, I have my checkbook with me.
Can you give me the right numbers on this car and also tell me based on the terms I want the vehicle for how will this effect the monthly rate? (39mth and 15k instead of 48 mth and 12k) I was also curious to know your thoughts on what the dealer told me about their calculations.
Thanks so much for the help and hope to get a quick reply since I wanted to go in tomorrow to the dealer. Sorry if this was confusing or involved....
Best regards!
What are the May #'s for a 2 yr 12k per year, and a 3 yr 12k per year (lease and balloon note) on a Mazda 3i sedan (manual trans).
Any dealer cash, rebates, etc? Didn't see any here on edmunds.
Thanks!
I wish it were the case, but I doubt that is accurate. As I understand it, once I assume the lease, the lease is in my name and I would be liable for all damages, wear and tear and excess miles.
In any event, I'm looking to get any feedback from someone that has gone through the lease transfer process with IFS (or any bank) to determine how long it actually takes.
Both the current lessee and myself are motivated to get this done, so we'd move as fast as possible. If it takes a week or two, I can wait, but if it takes 6-8 weeks (as the IFS rep told me) then I will take the deal I have on the table for a new 05 coupe from the dealer.
They couldn't even get comfort access ready for the 3 series release.
Who is managing that company if anybody?
As a person who has driven nothing but BMW for the last 12 years, it is most discouraging.
I see that VW is currently offering a cash to dealer incentive of $2K on the Touareg. Is that money in play when I begin negotiating cap cost on a 3/36 lease?
Looking at going ahead with a purchase on Monday...my 2 choices...
05 Maxima SL non/nav, DPP, Mats, Splash, MSRP 31,420 Purchase price 28,300...includes $500 lease cash discount
05 Acura TSX non/nav ...MSRP 27,760 purchase price 25,800...
Looking at 36 month...12k......can you give me base MF..residual...and appox payment.....Thanks..
Anyway, just using your numbers, regardless of model, I get the same $520/mo.+tax that you get.
However.. I don't think $4700 upfront covers everything..
$900 acq.fee
$5XX 1st payment
$600 security deposit
$3000 cap cost reduction.
That is over $5000 right there..
Maybe security deposit is being waived, with corresponding bump in MF? Or, acquisition fee is being added to cap cost? And/or, they are bumping up the money factor?
One or more of those three items is probably the answer...
regards,
kyfdx
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But, IFS holds the original lessee liable, in case they are unable to collect from you...
But, that shouldn't matter to you... though it may matter to him..
On another board, a BMW lessee transferred his lease to another person.. He said it took four weeks, and that was with him doing everything possible to expedite it as quickly as he could.. He said it could easily stretch into six weeks, if you were lax about the paperwork.
regards,
kyfdx
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MSRP: $43,683
Price $39,146
48 mos./15k miles
Residual: 44%
Money Factor: 00065
9 Security Deposits totaling $4500 (refundable at end of lease)
$1900 down payment
Monthly payment which includes taxes: 475.69
MSRP: $63284
Price $56,000
36 mos./12k miles
Residual: 54%
Money Factor: .00245 --from lexus
$0 down payment
Approx.Monthly payment which includes taxes: 881.00
Would Like to bring Payment down to around $600 ?
its an 06 525...i was very happy with the price (1200 over invoice) from a very big dealer that isnt known for its great prices.
there is a 700 security deposit included in the total due at signing. he is using the 900 acquisition fee to reduce my cap cost of 3000 to 21000. what-the-heck! i thought if you do a zero-down lease, the total drive-off costs are 1700 (which includes acq fee, no?)...so the extra 3K i wanna throw in is purely psychological...id like to keep my paymetns in the low 500's....which is how i get the 4700 total due.
so if i wanna get the pmts to 520+tax i should have a total drive-off cost of $5600?
many thanks kyfdx
M35x/Journey-Tech-splash guards--full size spare--mats
MSRP--50560
Selling Price--48060
39 months
15k miles
MF--.00209
Residual--61%
0 cap cost reduction
Paid 1st month+finance fee ($550), MV and documentation fees=$1680
NJ Taxes in advance=$1033
Tire and wheel insurance--$250 (well worth it!)
$2963 upfront
$606.52 monthly...
Look at it this way.. He is giving you a low purchase price.. He is using the base money factor and the base acquisition fee. Not a bad deal.
Of course, the car is still fairly expensive to lease, because there aren't any low money factor incentives..
Putting a lot of money down, to get a lower payment is just playing mind games with yourself, though...
My advice: Just make the 1st payment and security deposit... Given the rest of the terms, you'll have a good lease price.. It just won't look as good as $520+tax... In the end, you'll pay about the same amount. With just 1st payment and security deposit upfront, you payment will be right around $638/mo. +tax.. That is the way I would go.
regards,
kyfdx
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Do you know the minimum money factor and the minimum fees in addition
to the residuals for a 2003 BMW 754Li and a 2003 Audi A8L?
Thank you, Rich
Thank you.
hpowders
is appreciated.
About the only way to check them would be to ask multiple dealers for each make..
Usually the best CPO lease deals are on cars coming off lease... That would be mostly '02 models, right now.
regards,
kyfdx
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ANy response to post Nr. 20878?? Was hoping to have your comments. What I need to really know is the residual and money factor and the Limited and the SR5, I am thinking about leasing an SR5 with the following:
Preferred Package / Alloy Wheel Package #2 / JBL In-Dash 6 CD changer / Rear Spoiler / Fog Lamps / Keyless Entry / Running Boards.
This is almost the same vehicle as a Limited just without the fancy trim I believe but for about 4k less.
My lease term would be 39mth / 15k a year with $0 down (except first month payment and the usual ref fee, etc etc). I know there is a 1000 rebate offered, let me ask you - can you apply this rebate to the negotiated final price under a lease or is the 1000 rebate only applied afterwards, such as using it for a down payment? The dealer said I cannot apply it to the negotiated rate - I am skeptical.
Anyway - your input and assistance is much appreciated.
Best regards,
jnijankin
gee, im starting to reconsider this. :confuse:
im gonna keep my fingers crossed and hope the MF decreases next week.
$555/mo. + $83/mo. = $638/mo.
I'm not sure why you are surprised... You see what I mean about how the lower amount sounds better, but really isn't?
Capitalized cost reductions (aka downpayments) are just there to make you think the cost is lower.
I also happen to think that an '05 545i is one of the best leasing deals going right now... It isn't like the new '06 will look any different.
regards,
kyfdx
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Car_man
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You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the car that you are interested in for you if you let me know what these numbers are. You should be able to get good feedback on this vehicle's pricing by stopping by the following discussion: "Subaru Outback: Prices Paid & Buying Experience".
A 4 year lease of this vehicle will provide you with a low monthly payment, but one thing that you should think about leasing for 4 years instead of for 3 is that the Subaru Outback only comes standard with a 3 year /36000 mile basic warranty. If anything happens to your vehicle during the last year of your lease, you will have to pay for it out of your own pocket. I personally prefer 36 or 39 month leases because I like to get new vehicles more frequently than every four years and leases are usually expensive to get out of early.
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Thanks.
hpowders
You are correct that the $1,000 "Hot Button" cash can be used to reduce this vehicle's selling price. In addition to this bonus cash, GM is providing $1,250 lease cash that can be as well. Make sure to take these incentives into account during your negotiations.
Furthermore, consumers can and should lease any vehicle that they are interested in without making any sort of down payment. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your SRX would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. At lease signing, consumers are usually required to pay their vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 or $50 increment, the acquisition that the bank that they are leasing through charges (in GMAC's case this is $595 in most states), and any required state taxes or fees. Even a number of these items can be rolled into your vehicle's capitalized cost if you would like.
GMAC's current base lease rate and residual value for a 3 year, 12,000 miles per lease of a 2005 Cadillac SRX V6 are 3.95% and 55%, respectively.
Let me know if you have any other questions.
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The selling price that you were quoted looks reasonable to me, but you may want to run it by the community members who are over in the "Lexus RX 330: Prices Paid & Buying Experience" discussion as well. If you tell me the exact selling price and MSRP of the truck that you want, I can tell you exactly what its payment will be.
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Thank you.
hpowders
I can give you an idea of what sort of lease payment you can expect on any vehicle that you are interested in. However, in order for me to do so I need you to tell me its full MSRP and provide me with an approximate selling price. All of that informaiton is available here at Edmunds.com. Let me know if you need any tips on finding it.
As far as owner loyalty incentives go, I believe that VW Credit is currently providing returning customers a $500 incentive, but I do not believe that there are any loyalty incentives on Audis for current VW lessees.
Let me know if you have any other questions.
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The dealer quoted me a base money factor of .00180 (which I thought was HIGH) for top Tier 1 credit consumers and worked it down to .00065 if I agreed to the 9 additional sec. deposits ($4500) which is fully refundable at the end of the lease. What interest rate does this amount to?
The MSRP price is $43,683 which includes 18" rims, rain sensor, 6 CD changer, accessory group, wood trim (steering & shifter knob), towing package, HID lamps, heated front seats and navigation/camera.
Selling price: $39,146--could I get this lower?? I'm seeing different invoice amounts from various websites ranging from $38,601 to $38,794.
Residual: 44%
Doc. Prep. fee: $298
Title/License fee: $41
Tax: 7%
In order to have a monthly payment of $475.69 (includes GAP ins. and $515 acq. fee) I would have to also put down $1900.
Does this sound fair?
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I finally signed an order for a 2005 545i with:
NAV System
Steptronic
Cold Weather
Premium Sound
Sport Package
Rear Side Airbags
Rear Sunshades
Fold Down Rear Seats
Rear Seat Heating
SAT Radio
Heads Up Display
MSRP: $67,525.00
Invoice: $61,700.00
36 months, 10k miles p/year, $2555.00 total out of pocket, $730.33 per month including 6% NJ tax. I got pricing from 2 dealers here in NJ that were only $10.00 apart on the monthly payment.
Based on my original negotiations it looks like I did alot better, as I was originally looking at a 545i with a $64,??? MSRP, $2700 out of pocket,36 months 12k miles per year, $776 per month. Is BMW giving dealers a rebate on the 05's? According to my figures it looks like I'm getting this car very close to invoice.
Again, Thanks for all the help!
Frank
I know that you are trying to catch up on the backlog of requests, if you get the chance to look at post #20883...the info would be appreciated....going into purchase tomorrow....thanks as always for the time and info.
The agreed price of the Lexus, when I signed the Lease on 06/09/03, was $31,795, and I payed $2,479.46 tax (Schaumburg, IL) on the entire value of the car...bringing my total cost at that time to be $34,874.46 (includes $600 acquisition fee).
My question is this: If I trade in my Lexus for $24,100 to buy an SUV that costs $30,685, do I get a tax advantage? i.e...Do I pay tax on $30,685 - $24,100 = $6,585, which in Crystal Lake, IL tax is 6.5%, which would be $428.03 tax?...Or, do I have to pay tax on the entire cost of the new SUV at $30,685 *6.5% = $1,994.53?
I am not sure if I have to pay tax again, since I payed tax on the full price of the leased car in the begining of the lease.
The tax advantage difference here is $1,566.60...so, I want to be sure on this.
Thank you.
I just bought a Dodge Dakota 2005 Club Cab Slt and that was 3 months ago, It was my first time to trade (which up to now I am still upset about it) HUH!
Anyways, now no offense to dodge dakota owners but I realized that this is not the right one for me, I thought this would be great i can put my bikes on the bed and it runs very good.
NOW I am deciding about doing an early trade-in finance, do you think a car dealer would be willing to pay what I owe 23K ?(after all I deposit and trade)
I tried to visit kelley blue book to appraised the worth of this truck but I can't for some reason the truck is still good as new like how I purchased it although there is 4,500 miles in it already.
can you please give me some advice on how to get rid of this truck? If I can I am thinking about trading it in for a 2005 ford explorer that they sells for 18,000.
any advice is needed and will be greatly appreciated...regards
Could one of you assist me with the lease numbers for the 2005 Avalon XLS? I'm looking for a 36 or 39-month lease with 0 down, 12K miles/yr, MSRP $31, 340 (options: VSC and premium audio), negotiated price $29,100.
Thanks much,
samosval