Lease Questions - Ask Here

flbuyer · June 2005

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

bp714 · June 2005

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.

cc12359 · June 2005

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

stillageek · June 2005

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_oc · June 2005

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

olysan · June 2005

Is the $2500 Detroit only, or is it available in other markets? Specifically St. Louis? That would probably seal the deal for me.

glockfan · June 2005

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!

horsepower2 · June 2005

Can anyone tell me what the base money factor and residual value is on a 05' BMW 545i?

sharmabmw · June 2005

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

sharmabmw · June 2005

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

olysan · June 2005

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.

paul138 · June 2005

Car Man:

I have a question that is on page 1062 #21213.
Can you check it out?
Thanks...Paul

cagorm · June 2005

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.

glockfan · June 2005

Olysan, Did they tell what the lease payment would be?

hpowders · June 2005

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

rotwein1 · June 2005

Hey thanks for the very informative and quick reply.

gtshark · June 2005

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.

hpowders · June 2005

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

danf1 · June 2005

Your welcome. Keep us up to date as you do your shopping.

fearan · June 2005

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.

briana · June 2005

I know this truck just came out, but is there anything out there as far as money factor/residual for the H3? The H3 comes nicely equipped for about 35-36K, I was wondering what I'd be looking at lease wise.

Also interested in the Grand Cherokee Limited as well, do you have a current money factor/residual on that? Thanks for the help.

kyfdx · June 2005

Well... at least he was honest about it, later..

Of course, if he had just said "$1700 over is what it will take", instead of sneaking in the other $200, it would have been more upfront.

Don't feel bad.. Probably 3/4 of BMW dealers operate this way...

hpowders · June 2005

I don't feel bad especially with the "fire sale" lease on the 545. I am strictly a BMW 3 man but I just can't resist 2.4% money.(1.8% if I put down 5 security deposits). When you get a great lease deal, you can't quibble over 200 bucks.
The dealer jumped at my deal. They really have to get rid of those 545's.
I have just one more dealer to "play" to see if I can get invoice + $1000-$1300. Several weeks ago, I told this dealer I was more interested in a 2006 330i than a 2005 545 and you should have seen his face drop!
The first dealer was honest because I knew enough to confront him after quickly looking up some of your previous posts on the 5 boards in which you indicate the acquisition fee is $625. I immediately called him back and confronted him about the extra $200 but he was determined to keep it in there.
You are correct. He was honest about it "later."
I would also roll the acquisition fee into the cap. cost as you suggest.
By the way the car I want must be ordered because of my options. Do you know when the cut-off is for putting in an order on a 2005 545?
Thanks,
hpowders

hbomber · June 2005

All depends who you leased the vehicle through. I could give you some idea if it's a company I know their guidelines.

You can always get the vehicle fixed on your own, inspectors can tell where previous repairs were, that is fine as long as they are not poor repairs.

hbomber · June 2005

Thanks car man, this didn't sound right to me as well. I kept asking for the specifics but they would not give me anything in writing. I was more curious on what the MF they were actually using. Considering I want to take part in the s-plan, I would have thought they would treat me better, but the two mazda dealers I have been to irked me. I just figure they are trying to make up money in f&i.

allera · June 2005

Car_man-

I'm looking at a G35 but am unsure whether to purchase or lease the vehicle. I'd probably only keep it for 3 years and then either sell it or turn it in and step up to a family car/suv at that time. Can you help narrow down my decision? Assume 3.75% for purchasing. Ideally, I'd like to get my payments as low as possible.

2005 G35 Coupe 6MT w/ premium package + aero + nav unit
MSRP: 38,960

I'd like to get it under $35k, but unsure how successful I'll be. Can you give me information based on MSRP? I can probably modify your information for whatever price I can get out of them. Is there anywhere I can go to see what other people are getting a similar G35 for? I noticed you had a link like that for Lexus.

Thanks!!

crj1 · June 2005

The $2500.00 is CCR, it should be available in St. louis but I will not know for sure until I can check at work Monday.

glockfan · June 2005

CRJ1,
My dealer in GA says it is not available...Please check and see if it is available. Thanks

ckiggins · June 2005

Does anyone have experience leasing through Sam's Club car buying service? If so, how did it work out?

olysan · June 2005

Thanks in advance for checking this out crj1. Probably a dumb question, but what does CCR stand for?

Mike

crj1 · June 2005

CAPITALIZED COST REDUCTION/DOWN PAYMENT ASSISTANCE: THIS ALLOWANCE
MUST BE UTILIZED TO REDUCE THE CAPITALIZED COST OF THE GMAC SMARTLEASE
CONTRACT OR THE AMOUNT TO FINANCE FOR GMAC SMARTBUY CONTRACTS. THIS
ALLOWANCE MAY NOT BE OFFERED AS CASH TO THE CUSTOMER.

THIS PROGRAM IS AVAILABLE ON DELIVERIES TO RESIDENTS OF THE FOLLOWING
STATES AND COUNTIES WITHIN THE NORTH CENTRAL REGION ONLY:

STATES:
KENTUCKY
MICHIGAN
OHIO
PENNSYLVANIA

COUNTIES IN THE STATE OF INDIANA:
ADAMS ELKHART JAY NOBLE SULLIVAN
ALLEN FAYETTE JENNINGS OHIO SWITZERLAND
BARTHOLOMEW FOUNTAIN JOHNSON ORANGE TIPPECANOE
BLACKFORD FRANKLIN KNOX OWEN TIPTON
BOONE FULTON KOSCIUSKO PARKE UNION
BROWN GIBSON LAGRANGE PIKE VERMILLION
CARROLL GRANT LAWRENCE PULASKI VIGO
CASS GREENE MADISON PUTNAM WABASH
CLAY HAMILTON MARION RANDOLPH WASHINGTON
CLINTON HANCOCK MARSHALL RIPLEY WAYNE
DAVIESS HENDRICKS MARTIN RUSH WELLS
DE KALB HENRY MIAMI SHELBY WHITLEY
DEARBORN HOWARD MONROE ST. JOSEPH
DECATUR HUNTINGTON MONTGOMERY STARKE
DELAWARE JACKSON MORGAN STEUBEN

COUNTY IN NEW YORK:
CHAUTAUQUA

COUNTY IN WEST VIRGINIA:
HANCOCK
ELIGIBLE MODELS: SELECT ELIGIBLE NEW AND UNUSED GENERAL MOTORS
MODELS LISTED BELOW:

2006 MODELS
PONTIAC-GMC: ALLOWANCE:
# G6 $1000

2005 MODELS
BUICK: ALLOWANCE:
LACROSSE $1000
RAINIER $1500
RENDEZVOUS $1500

CADILLAC:
CTS $1500
CTS-V $1500
ESCALADE SUV $3000
ESCALADE ESV $3000
ESCALADE EXT $3000

CHEVROLET:
MALIBU $1000
MALIBU MAXX $1000
IMPALA $1000
MONTE CARLO $1000
SILVERADO $1500
AVALANCHE $1500
EQUINOX $1000
TRAILBLAZER $1500
TRAILBLAZER EXT $1250
TAHOE $2500
SUBURBAN $2500

HUMMER:
H2 (ALL MODELS) $3000

PONTIAC-GMC:
G6 $1000
GRAND PRIX $1000
SIERRA $1500
ENVOY $1500
ENVOY DENALI $1500
ENVOY XL $1250
ENVOY XL DENALI $1250
ENVOY XUV $1250
YUKON $2500
YUKON DENALI $2500
YUKON XL $2500
YUKON XL DENALI $2500

desgnconcpts · June 2005

CRJ1,

I'm in the Chicago area -- my understanding is that this is in the North Central Region and I should have these GMAC capitalized cost reductions available to me. Can you confirm?

If I understand correctly, as an example, I should be able to lease a GMC Envoy XL Denali for the GM Employee Discount Price, less the $2,500 cash allowance, less the $1,250 capitalized cost reduction for a lease? Or is it the Employee Discount Price less the $1,250?

olysan · June 2005

Thanks crj1. That $2500 would have been enough to seal the deal, but I guess I'm still shopping.

rroyce10 · June 2005

......... Yikes ....!

Cut the caps ..... your going to blow Carman right off his chair ......

Terry.

crj1 · June 2005

The $2,500 cash allowance is only on a purchase, you get the $1250.00 plus GM discount.

crj1 · June 2005

Sorry but I cut and pasted that and was not going to change it all.

kayak2 · June 2005

Car_Man:
Thanks so much for hosting this board; it is really helpful. Could you give me your thoughts on the following proposed lease from a dealer:
2006 BMW 325I, Automatic, Metallic Paint and Power Seats-
MSRP- $33,740
Purchase Price- $33,240.00+ttt

36 month Lease= $515.31+tax w/12K miles/year w/ $1,009.38 total down.
Money Factor=.00290
Residual= 63% or $21,256.20.

Thanks!

leroybrown71 · June 2005

Car_Man,
Hi, I posted a few days ago about a Navigator , but I didn't get a response. ( Believe me I understand, you're crazy busy! )
I was wondering if you could help me out.
Here's what I need ( thanks in advance so much! )

05 Navi Ultimate 4x2, no navigation. ( Why would a Navigator need Navigation, after all? )
36 Month residual & MF. 12k miles per year.

Plus here's what I have so far.
MSRP 54695
Sale Price 44000
Seems good to me - whaddaya think?
Also I'm in Texas, and apparently on Navigators here right now, you don't pay the regular 6.25% tax, you just pay some 1.2% state fee. I dont understand that, but I like it. Ever here of it?
Thank you!!

Kirstie_H · June 2005

Just an FYI, car_man is without access for a few days, but can respond to your post when he returns. In the meantime, we have many informed members who give excellent advice on leasing, so check for their responses. You can also use the make/model search tools at the left to find the "prices paid & buying experience" discussion about the particular make/model you're interested in, and post there for other member opinions.

leroybrown71 · June 2005

Thanks Kirstie_h . I hope Car_man returns soon, as he'll be missed by many! Poor guy gets abused by us I think.
I'll be looking forward to another friendly members response as well though.

I did look up the Prices Paid for the Navi, but didn't find much recent info, so I figured I'd double check here. I'm happy with the price , so it's no biggie if there's no feedback on that front.

Thanks!

Kirstie_H · June 2005

Rest assured that car_man will return soon! Just didn't want you to think that your questions are being ignored.

paul138 · June 2005

Kirstie,

if you want to take a look at my question that would be great.
page 1062 #21213
thanks,
Paul

lizard2806 · June 2005

Does anyone have any experience (in Connecticut) with selling a leased vehicle to a third party? Here's the deal:

1. Volkswagen does not allow lease transfers in the last 8 months of the lease or something like that. (I remember checking and seeing I was past whatever deadline they had).

2. I have someone who is willing to buy the car for what I owe on the vehicle (residual, remaining payments, etc.). Basically, I net out 0 and get out of the lease early. win-win.

If they were to buy the car, would it be taxed twice due to it being two transactions? The first being VW charging me for tax on the residual (which, apparantly in CT needs to be assesd when the title is transferred from the lien holder, VW, to me) and the second being upon transfer of title from me to the people who just paid for it.

I have yet to contact the DMV (tomorrow I'll do it), but wanted to know if anyone had any thoughts or experience on this.

Thanks in advance,

sumosama · June 2005

Howdy! New here, so please be patient!

Wanting to lease an LR3. Nothing down. 750 + fico. Sticker price is $54,945. We have an x-plan price of $52,039. Plenty of income.

What type of money factor should I expect?

(I keep getting quotes of 0.00329 or so, which seems really high! I would hate to get a great deal, then get hosed on the financing!!!)

hpowders · June 2005

Yeah it is really high. To get the interest rate you are being charged, just multiply the money factor by 2400 which in your case becomes 7.896%
If I were you, I would click on "Forums" and then click on "Land Rover" and then go to the "Land Rover LR3, Prices Paid & Buying Experiences" thread.
People there may be able to tell you if .00329 is about right for this vehicle or whether the dealer has padded it for extra profit.
Re-post what you wrote here, over there.

sumosama · June 2005

many, many thanks!

hpowders · June 2005

Anytime!

Kirstie_H · June 2005

Paul, you really don't want me to do that - I know little to nothing about leasing!

paul138 · June 2005

oh ok,then i will just wait till the car.man returns...thanks

hpowders · June 2005

Anyone out there know if a $399 document fee on a BMWFS lease is legitimate or is the salesman just padding the deal by $399?

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