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A dealer quoted me the following terms but I wonder whether this is a good deal:
The selling price for the car (Accord LX 4dr Auto) is $19234 and the residual value is $11,388. With $500 down, the monthly payment becomes $269 + tax=$289.45 for 24 months.
Look forward to hearing from you, Doremi1
It's basically an option package on 2005 Ram 2500 4x4s
Your advise and information on this forum are very helpful in researching a new car purchase.
I am going to purchase a 2006 Lexus GS 430. MSRP is $58,620. Purchase price is $56,620. I want a 36 or 39 month lease, 0 down, 15,000 miles per year. I have not decided whether to pay the KY sales taxes up front or roll them into the lease. What would you think is best? Could you please provide me with the current money factor, residual value, and monthly payment?
Thanks for your help, Stoney4
What about pre-paying the entire lease. Good or bad?
Thanks!
In final negotiations to lease an '05 Highlander Limited AWD with 3rd row seating. Several questions for you: (1) what are current TFS money factor (were quoted .0012) and residual values %, (2) getting conflicting info on the current $800 cash incentive -- is it off the table just for TFS loans or also for TFS leases, (3) know you don't favor capital cost reductions, but do you suggest rolling the acquisition fee/DMV/docs into the lease or should these be paid up front if we have the $$, (4) understand TFS does not include gap insurance with their lease, but the price we were quoted was crazy ($200+ per yr) -- what's a fair price to cut with TFS (I assume it's negotiable) or what 3rd party insurers to you rec? Thanks in advance, and great site!
Sweetness2
However, I'm a bit confused about what lease cash is. I have also heard that Nissan is offering a 1500 rebate on the Altima this month. Is this rebate applicable in my situation, and if so, is it in addition to the lease cash?
Thanks again for your help,
JToss15
But I have a question about the lease rates. I've searched the forums for past Audi lease posts and I've seen a few here and there. But this is what I got last night. The dealer was super nice and he showed me exactly how the payment works out on his computer. A4 quatro 2.0, 36 months, 15K, msrp of 35.8 and I don't know exactly the selling price, but I believe it was around 33.8 (whatever it was, he said it was $300 over invoice and I saw this on the computer). $1K out of pocket, with NJ 6% tax payment was $507. That sounded like a pretty decent deal to me, until I got home and read this from one of your posts on june 19.....
"Audi Financial Services' current 36 month, 15,000 miles per year base lease money factor and residual value for the 2005.5 A4 2.0T quattro sedan should be .00135 and 56%, respectively. Using these numbers, an MSRP of $40,110 and a selling price of $38,374 I come up with a zero down, pre-tax monthly payment of around $525 for this car."
These numbers just don't make sense to me, the selling price is easily 4 grand over the selling price of the car I was looking at plus I would have to put a grand out of pocket. Am I missing something here? When you say zero down, do you mean no cap cost reduction, but you still will have to pay MV fees, first month payment, etc? I know tax isn't included in that $525 you quoted above, but still those numbers aren't close to what I was quoted. I guess I'm really making more of a statement of confusion than asking a question, but it just doesn't make sense to me that the dealer is making only 300 over invoice and my payment is that high. I guess I need to look into the residual and money factor that he was working with.
That being said, I am looking at the A4 Quatro 3.2 over the 2.0. Do you have the 36 month, 15K residual on the 3.2? And if you could run a quick lease payment, the base 3.2 w/no options msrp is 36,760, invoice 34130. So just for example, can you figure out the payment at a selling price of $35K? Thanks for the help and sorry to be so longwinded.
Volvo XC90 - V8 Climate/Touring/Convenience/BiXenon
48 months
12K miles per year
MSRP - 50,985
Car Cost - 45,759
Buyout - 25,757
Out of pocket - 1387
Payment incl tax 594.63
Thanks in advance
The little woman isn't happy about the increased price of the Tahoe and wants me to ask about the current numbers for the trailblazer. What is the residual and lease rate for the following...
2005 Trailblazer LT, 36 months, 12,000 miles
MSRP: $32,170
Selling Price: $28,202.73
GM Card Rebate, additional cap reduction: $1,280
Can you please provide the Money Factor and Residual value for 2005 Honda S2000 on 3yrs/15k and 3yrs/12k? And with the current lease offer provided by Honda on the s2000, is it possible to negotiate a lower cap cost? Thank you for your help.
-Jeff
In the states where the tax is on the payment amount (like mine) the tax is calculated on the full payment - interest and principle. There are some states where the tax is calculated up front, then allowed to be paid over the life of the lease by adding ((1/n) * tax) to the base lease payment (where n lease term in months). In other states the tax is calculated up front and either must be paid up front or added to the net cap cost of the lease - so you end up paying interest on the tax.
I assume that all taxes collected are paid to the state less a modest fee for collecting them.
Dennis
36/45k - 57% 0.00073 MF
The lease promo as spelled out on the Honda web page calls for the dealer to deeply discount the car. In fact, one of my local dealers told me "we are not participating in that lease program". You CAN get the same residual and MF from them, but they will not discount the car enough to get you the $299/mo payment with the amount out of pocket shown in the lease promo.
That said, that is just one dealer. A high volume/deep discount deal for sure can deal the price down to where you can almost get to $299 w/o a lot out of pocket. Figure on around invoice for the car as being a good deal.
Keep in mind the lease promo was just done to make a nice sounding number "$299 a month". You can negotiate the cap cost down (and should), pay more or less out of pocket, roll the acquisition fee into the cap cost, have them waive the security deposit (MF goes up 0.0001), etc. The thing to do is plug the MF and residual into a lease calculator and run the numbers for yourself.
Dennis
Selling price: $23,673
Price adjustment (fee that I am negotiating out): $556.03
Assignment fee: $595
Residual percentage: 52%
Lease factor: .00122
The selling price is good, the lease factor is good. I am not sure about residual percentage. The "price adjustment" seems bogus and is just being used to make it look like they are giving me a great deal ($1,000 below invoice).
Is the lease factor and residual correct?
Before I pull the trigger on an Accord LX lease, I was wondering if you could tell me the MF and residual on an '05 Camry LE in New Jersey for 36mo 15K miles/yr.
Thanks,
Zed
How do those s60r lease numbers work out now? 3 years,10,000 miles and 0 down. Im shopping for 2:1 with premium and climate,one with nothing(if there is one out there..)
With respect to cars: 1) S2000 is being negotiated at $32,400 but that doesn't include the $3,400 my husband would be putting down. Should he even put anything down? 2) Odyssey EXL-RES/NAV was being negotiated at $31,900. We haven't signed anything yet, so obviously when I go back on Friday, I would love to be armed with anything you can throw my way so we can get the best deal on the two cars.
Finally, I read on one of the boards that if your lease payment is 1.3% of your MSRP (or maybe it is selling price) that you are getting a good deal. Is that true?
Thanks again! I really appreciate your help with this.
Both leases would be for 36 months and for 12k miles each.
Most report buying the car for invoice to $500 over invoice.. that would be $1500-$2000 less than the price you've been offered..
Every $1000 that you negotiate off the selling price, saves you $30/mo. on the payment....
regards,
kyfdx
Check out this thread... S2000 Prices Paid
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I'm in So Cal. They quoted me a 36-month lease with $3400 due at lease inception and monthly payments of $270. Withno downpayment nothing due at inception, I didn't ask them to quoted that for me.
Ddelise,
Thanks for your calculation. I thought it sounded reasonable too. But now I guess I have other options to go with that would be better off for me.
JS
Thanks
If you were to lease a 2005 Nissan Pathfinder LE 4WD through Nissan Motor Acceptance Corp. right now for 36 months with 12,000 miles per year, its base lease money factor and residual value should be .00213 and 54%. The numbers for an otherwise identical 39 month lease should be .00117 and 56%.
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In my prior message, I stated:
"I have the following parameters for a 36 mo lease, 15k miles for a 2005 EX, V6.
Selling price: $23,673
Price adjustment (fee that I am negotiating out): $556.03 ($197 documentation fee + first month's payment)??
Assignment fee: $595
Residual percentage: 52%
Lease factor: .00122
The selling price is good, the lease factor is good. I am not sure about residual percentage. The "price adjustment" seems bogus and is just being used to make it look like they are giving me a great deal ($1,000 below invoice).
Is the lease factor and residual correct? "
However, come to find out after meeting with the dealer that there are still some questions. In my original post, they were including the first month's payment into the adjusted selling price to come up with a payment of $341.93 + 5% tax = $359.03.
When I look at one of those online lease calculators, it tells me that they are actually putting the $556.03 into the cost of the car and still giving me 36 payments of $359.03. How does Honda Financing handle the parameters that I mentioned to come up with a payment?
Thanks in advance.
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Lexus is not currently providing any sort of lease support on the 2006 Lexus GS 430. So if you were to lease one through Lexus Financial Services right now, you would have to use its standard lease program. The last time that I saw its base standard lease money factor for Tier 1+ customers it was around .00245. Its 36 month, 15,000 miles per year residual value for this car is currently 56%. Using these numbers, an MSRP of $58,620 and a selling price of $56,620, I come up with a zero down, pre-tax monthly payment of around $881.
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Many banks allow pre-paid leases, but paying for an entire lease in advance does not eliminate the need to pay interest, it only lessens the interest rate that banks charge. If you get a good enough return for pre-paying a lease, it can be a good idea if you have the money to do so.
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AFS' current 36 month, 15,000 miles per base money factor and residual value for a lease of a 2005.5 A4 3.2L quattro Sedan are .00135 and 54%, respectively. Using these numbers, an MSRP of $36,760, and a selling price of $35,000, I come up with a zero down, pre-tax payment of around $495.
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I was looking for the 24 month and 36 month lease number with 12k miles per year.
No auto slushboxes for me either. It would be a 6 speed non-base model. It looks like there is $1,000 is customer cash and $1,000 in dealer cash if you do a MAC lease.
Thanks!
Dennis
Can you help me with a lease deal for 2006 M45 Sport.. MSRP of $49,750 with $7670 option and $610 destination charge, grand total of $58,030.
Initial offer from dealer in so cal was $2000 off MSRP, however I think that can easily be beaten.
What would be good monthly lease on his vehicle, with zero down?
Looking to get 15,000 miles, 36 or 39 months lease
How do I find out about the $7250 you mention above?
I am still hoping to get some advice on leasing an S602.5AWD.Sorry about posting messages #21497 and#21498. I see here that you have S60 lease info and I should have added to this?I am new to this type of communnication forum...
I have quotes for an '05 s60 2.5awd w/premium&climate.The "to buy" price is 31,500,but the " lease" price is 34,600.They say its because Volvo Finance will not include the same incentives for a lease,that they offer a low Money Factor instead(.00009)The residual Value is .56 and 0 down,fees(645dest,1 month pymt,lic/reg,security450) for a monthly payment of $454.
Can you shed some light on a confused car leaser?
Thanks-I see the TONS of messages you have to respond to and thanks...
Thanks very much.
You can pay that out of pocket at lease signing and you payment will be $500 a month.
if you choose not to, then the $1,440 is added to the net cap cost of your car and the payment is recalculated to get your payment. The dealer pays the state the tax out of the proceeds of the lease and you pay it over time with interest back to the lease bank. So in this example your payment would be more than $540 a month. How much more depends on the interest rate.
Dennis
Thanks so much for the response. That’s how I thought the lease payment was calculated, but couldn’t match what the dealer calculated so I thought that maybe it was done differently. Although I got a good price for the car, I believe the dealer charged me too much in tax.
Here are the details of the G35x with Premium Package C and Wood Package that I just leased for 36 months. If you can, let me know if you agree with my calculations and whether I should contact the dealer or Infiniti Financial Services about the discrepancy in the total tax paid since I've already signed the lease and have the car.
MSRP - $37,080 on the window sticker (Cars Direct currently lists MSRP for this car as 37,160 although it was shown as 37,230 last week when I got the car, not sure why there’s a discrepancy)
Current Cars Direct Invoice - $34,009
Cap Cost - $33,798.82
Money Factor - .00185
Residual – 60%
Residual Value – $21,348 It’s $900 lower because I got 18K miles a year instead of 15K. The residual gets lowered by 10 cents per mile so 9000 miles means a $900 reduction.
Bank Fee (included in lease) – $795
Using these factors, I come up with a pre-tax payment of $471.43 based on a cap cost of $34,593.82 which includes the $795 bank fee.
I live in Nassau County where the tax rate is 8.625% so the monthly tax should be $40.66. Over 36 months, the total tax should be 1,463.76
The lease agreement shows the total tax paid to be $1,601.96, which is a difference of $138.20. Adding $1,601.96 to the cap cost gives me my monthly payment of $518.90. However if instead I add the true tax of $1,463.76 to the cap cost, my monthly payment should be $514.80, a difference of $4.10. It’s not a big difference, but I hate to pay more in taxes and interest on the taxes than I should.
The only other fees I paid besides the first payment were as follows so none of these can account for the $138.20 difference:
Registration fee: $27.75
Document fee: $45.00
Waste Tire fee: $12.50
Total out of pocket was $604.15
thx,
Edward
If we take the tax and work backwards:
$1,601.96 tax shown divided by 0.08625 = $18,573.45 . Divide that by 36 and you get $515.93 for the payment. That number makes no sense.
If we take the tax and divide by the payment we get:
$1,601.96 / (36 * $471.43) = 9.439%. Is it possible the dealer charged you a higher tax rate (wrong county or county where dealer is located) ?
I don't live in NY so I am only going by what I have read and heard, but the numbers don't jive with that. It is not a big thing - except I always have to know where all the pennies go before I sign otherwise it would bug me :-)
Dennis
I checked at leasecompare.com and they will do 0.00210 on the car for 36 month/36k with what looks like a 51% residual. Most non-captive lease banks use the ALG residual so you will be shopping for the best MF.
You can check with Lease-by-tel or any other local or online lease broker to see if they can do better, but 0.00205 looks pretty good to me.
Dennis
I live in the same county as the dealer so there would be no reason for them to use a different tax rate.
I guess my next step is to contact Infiniti about it. Thanks again for your help. I'll keep you posted.