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Car_man
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My problem with demo vehicles is that most dealers never seem to be willing to provide enough of a discount on what is essentially a low mileage used vehicle. Unless there is a significant price difference between a demo and an otherwise equivalent brand new vehicle, I personally would much rather have the new one that nobody else has used for a number of months.
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Obviously, your payment will be higher..
Sorry.... I guess I figured that was understood...
Our friend seemed to understand that himself in the original post... He realizes he'll have to pay for the extra depreciation if he chooses a lower residual..
In that case, they would have no reason not to go with the lower residual.. Some captive finance companies may not have the systems in place to allow that, though... You may just have to go with the extra mileage... As others have noted, each bank has their own mechanisms for doing that..
regards,
kyfdx
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I'm not sure exactly what the payments would be like on the other trucks that you mentioned. Their exact monthly lease payments will depend upon how you want them equipped, their prices, how long you want to lease them for, and how many miles per year you want to be able to drive them. I would be happy to calculate lease payments on these models for you as well if you provide me with their MSRPs and selling prices. Other trucks that will be in the $500 per month or less range include the Jeep Grand Cherokee, Dodge Durango, Volvo XC90, Chrysler Pacifica (if you consider it a true SUV), BMW X5, BMW X3, Nissan Pathfinder, Volkswagen Touareg, Subaru B9 Tribeca, Acura MDX, Nissan Murano, Honda Pilot, Toyota 4Runner, and Toyota Highlander, to name a few.
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Can i assume that you used the .00219 MF and 61% residual on these calculations? And was i wise to lock in t5he June numbers for July or August delivery?
Thanks,
bp714
It's Cosmos 2 you helped me back in march. I am looking to help a friend lease an 2005 acura tl . So I am coming to you for some expert advice.
the msrp is 33,670
selling price 30,800
money factor of .0022
buy back of 16,490
mileage allowance 15k
He is handing in an old acura which they are giving him 4000. this money is being applied to first monthly pmt of 387.66
a sales tax on cap cost of 201.25
cap cost reduction of 2300
an acquisition fee of 1095
and a motor vehichle fee of 67.50.
So basically he is handing over old car and driving off the lot with a new 2005 acura tl for 387.66 a month for 48 months is that a good deal. ? we are located in ny suffolk county were we are charged 8.75 in sales tax.
Thanks again and enjoy Father's Day
Cosmos2
I've just begun researching leasing and my knowledge is limited. Any help or suggestions would be appreciated. Thanks.
Edit: I'm hoping for a monthly payment under 300.
Thanks again.
any help will be greatly appreciated.
jason
With the recent "employee discount" program going on at GM I was looking into lease possibilities for the Tahoe.
The salesman told me that the GM Employee Discount Price "after applicable incentives" would be the same regardless if it was a purchase or a lease. Is this true to your knowledge? The impression I got from the Chevy website is that some of the cash-back money is only "applicable" for purchases and not necessarily for leasing -- but I'm not the "expert".
More importantly, I need to know the going lease rate and residual value on the 2005 Tahoe 2WD LS 1SK. 36 months and 12,000 miles.
There seems to be some disagreement between what the online GM Payment Calculator was saying all of last week (as recently as yesterday) and what it is saying today.
All of last week the GM Payment Calculator was showing a lease payment of $322.21 for a 36 month lease based on a selling price of $31,250.08 and $1,280 down (GM Card rebate). This seemed like a remarkably low payment, but that's what it said all week.
Today, for that same car, same prices and same terms, the payment is now showing $389.98.
Was there some sort of glitch all week in their lease calculator??? Has my bubble been burst?
I've been lurking here for a while gathering the invaluable information you share with others. I can only imagine how much money you’ve saved everyone. I'm currently looking at financing a Saab 9-2, leasing a Saab 9-3, or leasing a Grand Prix GXP. The leases would be 3 yrs and 36k miles total. I like all the cars equally but for very different reasons, so I'm hoping a clear front runner will emerge after I run the numbers for all of them.
I got the money factor, residual, and lease cash for the 9-3 from an earlier post and was able to plug those into the Edmunds calculator. I have two questions about the 9-3. Are you able to calculate money factors with the security deposit waived? I'm looking to put down the smallest amount of money possible. The dealer quoted me a money factor of .0018 for a 3 yr/36k lease for the 9-3 with the sec. dep. waived. Also, I was given an acquisition fee of $895 from Saab. This seems quite high. I knew there would be some kind of fee, but I have never encountered one so high. Can you confirm if this is an accurate acq. fee?
Also, can you please provide the lease rate, residual, acq. fee, and lease cash for a 3 yr/36k lease on a Grand Prix GXP with the sec. dep. waived. If you don't have access to figures with the sec. dep. waived, please let me know the standard figures.
My father is looking at either a Lacrosse CX or a base Grand Prix. Can you please provide the lease rates, residuals, acq. fees, and lease cash for these cars on a 2 yr/30k total mile lease?
Sorry for asking so much, but thanks in advance for your help.
Matt
I'm looking at leasing a 2005 Dodge Power Wagon (3 years, 12,000 miles per year). I'm in Texas, can you tell me what the residual for this truck is. Additionally, can you tell me what the current money factor is through Chrysler Financial and what incentives/rebates are aplicable?
Thanks
Msrp $59600.00 He didn't release the selling price for me.
Option 1
39mos 10,000 miles $ 823.71 with tax on approve credit from lender
With $ 2176.55 drive away
All Tax is included in LA
Option 2
$735.00 per mos 48 months
with $4000.00 drive off
res $27401.00
What do you think?
This sounds much more reasonable to me - and a fairly good deal. Here is what I calculate (kind of - some guesses here):
Capitalized Cost = 26665-3500+600 (aquisition fee)+300 dealer fee+500 miscellaneous taxes = 24565
Residual Valeu = 29295*.39 = 11425
Depereciation = (24565-11425)/48 = $273.75
Interest = (24565+11425)*.0015 = $54
Payment = 273+54 = $327
Tax = 7% (?) = $23
Total = $327+23 = $350.
So, looks like it makes sense to me.
the information you requested for the Ultima 3.5 se
msrp$ 23930
selling price (includes 1500.00 rebate) $21583
thanks,
Paul
ps is their a section on edmunds that lists "holdbacks" on different
vehicles?
Thanks for responding to my question on S80. I was also considering XC90 from Volvo and that dealer has offered XC90 on these terms.
XC90 2.5T AWD Black Sapphire with taupe leather, metallic paint, climate pkg., premium pkg., and versatility pkg. MSRP $43,995.Invoice cost $41,005- $300- 1,500 = $39,205 plus tax, tags, and $99 processing fee.
What should I be looking to pay if I should lease this vehicle.- for 36 K miles and 36 months.
Keeping in mind your advise, I will not be making any payment towards capitalizing the cost and would pay only tax, title and first month payment.
Anyhow, he's going to get the 2005 Honda S2000, it has an MSRP about $33k, at a lease payment of $325/month (inlc tax). My car a 2005 Honda Oddessy (Minivan- - URGHH), has an MSRP of about $34k and my rate would be $480/month. How is that possible? We would be putting no money down...wouldn't the payments be somewhat similar? Is there something I am missing?
We have had initial conversatios with the dealership manager and have tentatively come up with these prices. I have heard that using a guide of 1.3% of MSRP would be a good lease payment, but I really need to know what I should do to get a better deal. Whatever dealershsip we end up going with is getting 2 cars in one shot, so I thought we wouldn't get scr**d.
Any help would be very helpful!
Thanks in advance.
Armed with your guidance, I got back to the dealer. He said that If he goes thru the bank the residual is 42% and the money factor is .00290 and that will eat up the $8,500. According to him, Volvo uses that $8,500 to buy down the rates.
Is it true that a bank would be so expensive to lease from?
I was stunned, because I think he is lying. We have bought two new cars at this dealership and take both vehicles there for service. I am thinking of pulling my business after I send a letter to the dealership owner. Am I on target to be confused about what he said regarding the residual value? Also, am I offline to think that a 50000 vehicle should hold a higher value after three years? :mad:
My husband wants me to contact some other GMC dealerships. I want to buy/lease a foreign SUV.
Welcome back. Can you please provide the current Residual and MF for 36 and 39 months with 12k miles for:
Infiniti G35x Sedan (is there any difference in Res or MF for adding Navigation?)
Nissan Pathfinder LE auto 4x4 w/nav & DVD entertainment
thanks
gperr
Touring/metalic white/Climate/Convenience packages & Bi-Xenon headlights,destination
Car Cost - 45,800.00
Out of pocket - 1375.00
Buy out/residual - 25,757.00
monthly payment - 595.00
Thanks in advance
Do you know the current MF and residual for a Mazda RX-8 lease? Also any MAC lease or purchase incentives? I have seen folks saying they are getting prices for purchases that are less than invoice - hold back so there should be some dealer money somewhere. Also the last time you posted there was $2k in lease incentive money from MAC. What is the current picture?
Thanks,
Dennis
Does that include tax?
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48 months,
12,000 miles per year
monthly payment includes tax
thank you
I have driven all four. 2005-B9; 2005 and 2004 Murano; 2004-RX330 and 2003 RX300. In comparison, am I better leasing or purchasing any one of the four. The RX's are certified used, so they qualify for 'new' car financing.
Maybe if I see the $$ I can get a better feel for what I want.
Car_man
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I also noticed that your friend is being charged a $1,095 acquisition fee on this lease. This is fine if they live in New York, because this is AHFC's actual fee in that state, but if they live in any other state this charge is probably too high.
Let's calculate a sample lease payment on this car using the information that you provided me and Acura's published lease program. According to my calculations, if your friend was to lease a 2005 Acura TL with navigation with an MSRP of $33,670 and a selling price of $30,800 through American Honda Finance Corp. right now for 48 months with 15,000 miles per year, their zero down, pre-tax monthly lease payment would be around $409. With a $2,300 cap cost reduction, this car's payment for an otherwise identical lease would drop to around $356.
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If you were to lease a 2005 Nissan Altima 2.5 SL through Nissan Motor Acceptance Corp. right now for 36 months with 15,000 miles per year, its base lease money factor and residual value should be .00134 and 54%, respectively. Using these numbers, an MSRP of $27,000 and a selling price of $24,500 ($500 under the invoice price that you mentioned), I estimate that this car would have a zero down, pre-tax monthly payment of around $328 or so.
Since you mentioned that you are new to leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
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SFSC's lease acquisition fee requirement varies from state so state, but I do not believe that it is as high as $895 anywhere in the U.S. Its base acquisition fee in most states is currently only $595. It is very possible that the dealer that you are working with is trying to mark-up Saab's base acquisition fee to add additional back-end profit to your deal.
If you were to lease a 2005 Pontiac Grand Prix GXP through GMAC right now for 3 years with 12,000 miles per, its base lease rate and residual value should be 6.4% and 59%, respectively. As you can see, GMAC publishes lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400. When negotiating your lease on this car, $500 should be taken off of the normal GM employee purchase price because there is $500 lease cash on it this month. GMAC is currently waiving its lease security deposit requirement on the 2005 Pontiac Bonneville with no increase in the cost of the vehicle or the interest rate that is used to calculate its payment.
If your father was to lease a 2005 Buick Lacrosse CX through GMAC right now for 2 years with 15,000 miles per, its base lease rate and residual value should be 3.0% and 62%, respectively. The numbers for an otherwise identical lease of a base 2005 Pontiac Grand Prix should be interestingly enough also be 3.0% and 62%. GM is providing $500 lease cash on the Grand Prix, but only regional lease cash on the LaCrosse.
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The informaiton on dealer holdback that you are looking for can be found on the following page of this site: Edmunds.com - Dealer Holdback. I have to warn you though that mentioning it by name during negotiations usually only serves to anger dealers.
Car_man
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I am indeed in Southern California.
I talked to the salesman and pressed him for more info and he quoted me a residual of 53%. When I questioned this he said "GM is adjusting their numbers on a weekly basis and it just went down from 56% to 53%". He also said that the lowest lease rate through GMAC right now is 6%. I made certain to confirm that this was THROUGH GMAC. Am I dealing with and unscrupulous sales-[non-permissible content removed]?
This difference in residual values jibes pretty closely with what the GMAC calculator is now reporting, I believe. We're talking about $1,222 difference in residual value at lease end.
The big hit, however, will be the exclusion of the $3,000 incentive money. I didn't think that would be available on the lease, but he initially assured me that it was and got my hopes up for a sweet, sweet deal. He is now officially "checking" to find out for sure... but I already know the answer.
The Tahoe LS in question MSRP's for $40,735.
The "Employee Discount Price" is $31,530 (after applicable incentives) ... which, I assume, is actually $34,530 for a lease?
Again, this is for a 36 month lease @ 12,000 miles per year.
Thanks again for the info.
You never mentioned the selling prices of the vehicles that you are interested in leasing. These are important numbers 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 the price of the vehicles that you want to lease you don't know how good the prices that you are getting them for are. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to work up a sample lease payment on the vehicles that you are interested in for you if you let me know what their selling prices are.
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