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Comments

  • Thank you for your reply crj1. I'm glad you posted, because I have a question for you. Should the prices quoted from one dealer to the next be the same (or close) using the GM Emp discount or do some dealers have more flexibility to offer even lower prices based on their size or sales volume? If you look back at my post with the proposed lease figures (about $580 per month for a 36/36 Denali lease with the Nav/DVD/Snf package), does that seem in line?
  • dino001dino001 Tampa, FLPosts: 5,474
    I think M3 fellow needs more detailed explanation why putting money down on lease is bad, as opposed to loans. He probably comes from world of loans and "low payment" objectives, which is probably the worst possible approach to acquire any property. So lets explain it plainly:
    1. If you buy $60K car and put $20K down and borrow the rest of the money, in case of totalling the car the next day, you recoup that $10K minus depreciation (Insurance pays say $59K, from which 50 goes to the bank, the rest goes to you). Thus, the full benefit of downpayment comes immediately to you in form of lower payments, lower interest charges (lower base and sometimes rate). This $20K is still yours, you just exchanged it to a different form of a depreciating property.
    2. If you do the same but lease and total your car, you may not see a penny of that $20K, because the bank takes the insurance check and then through their mambo-jumbo formulas comes to the conclusion the they owe you nothing, or say $2K, maybe $5K, just to wipe your tears. The full benefit of downpayment comes to you in full after the full lease term, not a day earlier (lower payments over the course of the contract term). You effectively handed down $20K to the bank and kissed the money good buy, since you actually have not bought the vehicle (exchanged the property).

    The difference comes from assmption of the depreciation risk (ownership). In lease, since you actually rent the vehicle, you do not care

    2018 430i Gran Coupe

  • mapleflmaplefl Posts: 8
    Hi, Carman.

    I'm looking to lease a 2005 VW Passat GLS 1.8 Wagon for 36 [email protected],000 mi/year within the next couple of days. What are the current lease cash/dealer incentives and special interest rates offered by VW for June leases and what is your feedback on the deal noted below? FYI: I'm not a current VW customer, so I'm not eligible for the loyalty discount. The deal I've been offered so far is as follows:

    2005 Passat Wagon GLS 1.8 with Automatic and Leatherette
    MSRP: $27,070
    Cap Cost: $24,255
    Money factor: .00067
    Residual: 46%
    Payment: $355.59 plus tax
    Cash at inception (including 1st month): $605

    Thanks for your help!
  • kmouradiankmouradian Posts: 36
    Carman,

    A friend of mine is interested in leasing a 2005 Cadillac CTS with the 1SB 3.8L package. He is looking for a 36 month lease @ 12k miles/yr. Does the GM employee pricing apply to leases as well as purchases?

    What is the MF and residual on this car? And is there any other rebates or lease cash that GM is offering on the CTS? Thanks a bunch.
  • crj1crj1 Posts: 70
    The base payment before you state sales tak should be $548.48 plus your tax. In michigan you have 6% tax which would give you a payment of $581.39
  • crj1crj1 Posts: 70
    The money factor is 3.95%, Residual on a 3 yr is .51 plus .03 for low miles. You have a total of $2600.00 in rebates on a lease and yes you do get GMS pricing on a lease.

    Chris
  • hgileshgiles Posts: 66
    Car_man,,

    If you happen to know the Mercedes SLK 350 residuals and lease terms could you post them. The 2006 prices have been posted on Mercedes website and I was hoping that the new lease terms might be available.

    I plan on doing a $0 down, 36 month, 15K mile lease.

    Thanks
  • kmouradiankmouradian Posts: 36
    crj1,

    Thanks for the info. I'm assuming that the 12k miles per year qualifies as low miles thus getting an extra .03 on the residual. Is this correct?

    And what is the acquisition fee and security deposit for the state of Florida?

    Thanks!
  • ae5555ae5555 Posts: 15
    Car_man, thank you for your reply, i did read it :).

    The only thing is do you know what the AHFS June rates and residuals are for 2005 TL WITH NAV for both 36/12 and 27/12 leases?

    Thanks!
  • glockfanglockfan Posts: 30
    I am looking for the same exact vehicle. Denali shortie with Nav/Sun Pkg. I live in GA and was actually ready to purchase last month. I was given a lease payment of $610 incl tax (7% sales tax) for 48 months and 12k miles a yr. I waited until June to see what the incentives were going to be. Now the dealer is telling me that they do not have the same lease cash as last month and the lease payment is now going to be considerably higher... I would purchase the Denali in a heartbeat for the same lease price you have quoted $548.48 + sales tax for 36/36. I need some help!! Thanks. :confuse:
  • flbuyerflbuyer Posts: 11
    Hi,

    Saw today that the supported lease on a 2005 RL($599/mo for 48mos) has been pulled out of the offer list. Anyone hear or see anything indicating Acura is going to do some other factory support...different special lease, lower MF, etc?

    Thanks in advance for any info...

    Flbuyer
  • bp714bp714 Posts: 18
    Thanks Car-man. You are a lifesaver!

    One more thing-- my MSRP and selling price have gone up a bit since my post--more options.!. Now at $51360 with selling price of $49283. The $2000 up front was not a down payment but rather a ballpark estimate of the fees you describe.

    Where my calculations fall apart is the taxes. I am subject to 8.75% State and county sales tax on and a 6% per payment Chicago "lease tax".

    I have ordered the car and locked in the .00211 MF and 61% residual until I take delivery.

    Could you calculate the monthly including tax for me, based on these numbers and associated taxes?

    Thanks again--you provide an invaluable service.
  • cc12359cc12359 Posts: 31
    Hi Car-man,

    I found this leasing special from Edmunds.com
    $679 Monthly Payment Calculate Other Monthly Payments
    39 Month Term
    $3000 Down Payment
    NA Security Deposit
    10000 Annual Mileage
    Restrictions Lease based on 2005 C55AMG with premium package and lighting package.
    Comments $4474 total due at signing. Incentives may vary; see your local dealer for details. Tax, tags and insurance are extra.

    can you please provide more detail on this special?
    What if I want to extend the Annual millage from 10k to 15k?
    How to calculate the monthly payment from the money factor?

    Thanks so much for your help.

    Sam
  • stillageekstillageek Posts: 114
    I signed for my first lease a month ago. I tend to trade my cars in after 3 years and figured I was leasing without the benefits. I leased a 2005 Acura TSX/ w/ Navi. The purchase price was $27,995. I had $3997.12 worth of positive of equity in my last car (2003 Toyota Matrix XRS loaded to the gills with just 18K miles, I put 0 down on this car so the $4K is almost found money). I put no cash down, but did put my equity down. They split the equity as follows. $3474.47 capitalized cost reduction, $347.10 first month payment, $125.55 title and registration and a $50 doc fee. The lease is for 39 months with a total of 45K miles. The residual is 16122.80. I now know I should have taken a check from them and had no capitalized cost reduction. Is everything else "ok?" I know they overvalued my trade as it had a door ding, the entire side of the car was repainted due to a separate door ding near the drivers door edge, and the cargo area was well used. Carmax only offered $12,500 the dealer gave me $13,000. . The car is being leased in Texas I assume this is enough info.
  • james_ocjames_oc Posts: 8
    Hi Car-Man

    Was looking for your opinion on this potential lease, I have been shopping around and here are the final ones I was offered, which sounded the best. You advice and help in advance is greatly appreciated. This is on a BMW Z4 3.0 Roadster...

    Option #1
    MSRP is $45,600
    Selling Price: $38600
    $2500 total drive off.
    $495/Month (including tax) for 36 months (12k miles/year)
    Sterling Gray/Black Interior
    3.0 Steptronic Trans., Sports Package, Automatic Top, Xenons, Heated Seats

    or

    Option #2
    MSRP 48545
    Selling Price 40655.58
    Residual 58% of MSRP = 28156.10
    12000 miles per year
    The total cap cost of the car (amount financed before reduction of residual value) is $39988.00
    Money Factor 0.00215
    2500 Total Drive-Off Down Payment
    $475.17 + 7.75% O.C. sales tax = $512 per month total x 35 months
    3.0 Steptronic Trans., Sports Package, Automatic Top, Xenons, Heated Seats + Premium Package (Only difference from Option #1)

    Thank you
  • olysanolysan Posts: 16
    Is the $2500 Detroit only, or is it available in other markets? Specifically St. Louis? That would probably seal the deal for me.
  • glockfanglockfan Posts: 30
    CRJ1 or Carman,
    Please let us know about the $2500 cash on leasing and the specifics of the 36/36 lease on the Denali. I am ready to purchase. Thanks!
  • Can anyone tell me what the base money factor and residual value is on a 05' BMW 545i?
  • sharmabmwsharmabmw Posts: 45
    545i Sedan

    24 mo/15k mi – 66% Residual Value – Money Factor .00100 Base Rate
    36 mo/15k mi – 57% Residual Value – Money Factor .00100 Base Rate
    48 mo/15k mi – 40% Residual Value – Money Factor .00270 Base Rate
    60 mo/15k mi – 31% Residual Value – Money Factor .00270 Base Rate

    add 2% for 12K, 3% for 10K
  • sharmabmwsharmabmw Posts: 45
    Negotiate for base MF

    Z4 3.0i Convertible

    24 mo/15k mi – 63% Residual Value – Money Factor .00200 Base Rate
    36 mo/15k mi – 56% Residual Value – Money Factor .00200 Base Rate
    48 mo/15k mi – 38% Residual Value – Money Factor .00270 Base Rate
    60 mo/15k mi – 31% Residual Value – Money Factor .00270 Base Rate
  • olysanolysan Posts: 16
    I just got a reply from a local GMC dealer. The $2500 is available in St. Louis but.......

    When is $2500 not $2500?

    When $1000 is Oldsmobile loyalty cash, and $500 is active military cash.

    So friggin typical.

    Oh well I guess $1000 is better than nothing.
  • paul138paul138 Posts: 31
    Car Man:

    I have a question that is on page 1062 #21213.
    Can you check it out?
    Thanks...Paul
  • cagormcagorm Posts: 37
    Hi CarMan. I am very close to a lease on a 2005 G35 Sedan 6MT. Will you please post the June residuals/money factors for 36 and 39 month leases with 12,000 miles/yr. Thanks for your help.
  • glockfanglockfan Posts: 30
    Olysan, Did they tell what the lease payment would be?
  • hpowdershpowders Posts: 4,315
    I submitted a lease deal for consideration to BMW but the salesman told me there was the acquisition fee of $725.
    Does anybody know if this is a legitimate fee or is the salesman just padding the deal?
    Thanks.
    hpowders
  • rotwein1rotwein1 Posts: 4
    Hey thanks for the very informative and quick reply.
  • gtsharkgtshark Posts: 1
    Well, that is debatable hpowders. First, does the dealer have to find the car(perhaps a color not in stock) and send a driver for a dealer trade scenario? If so, depending on distance traveled, that could be an add, however, $725 sounds a bit steep to me. On the other hand, if the car is in stock and/or scheduled to arrive as original dealer stock, then the $725 is just another way of pumping up the profit margin as you suspected. Think of it as "extra dealer added profit", especially if you negotiated the lease payment down from original quote. Just refuse to pay it or have the salesman show the $725, but back it out( by showing a $725 credit, incentive, whatever) and you are back to your original figures. It could be you whittled down a pretty shrewd deal and they need to add some profit to the deal. Good luck. My suggestion is obtain dealer cost figure and negotiate from cost up rather than from retail down. Go to Edmonds new car site or NADA new car site.
  • hpowdershpowders Posts: 4,315
    I was wrong. The acquisition fee is $825. I offered invoice + $1500. When I told him I expected the base acquisition fee of $625 he told me okay but then he wants invoice + $1700.
    In other words, he wants $200 profit over my deal.
    But my leasing deal is a great one. I'm surprised he agreed to it so I will probably swallow my pride and just cough it up.
    My car would have to be ordered and it would take about 2 months for it to arrive.
    Thanks gtshark.
    hpowders
  • danf1danf1 Posts: 935
    Your welcome. Keep us up to date as you do your shopping.
  • fearanfearan Posts: 1
    Hello all I am from Canada and looking to lease a nissan Altima 3.5S the invoice cost is $24892 canadian the dealer has offered 1000 dollars over invoice with a $1000 dollar gas card promotion . This seems fair to me but this being my first new car purchase was wondering what others thought. Your advice is appreciated.
This discussion has been closed.