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  • doremi1doremi1 Member Posts: 1
    Car man,

    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
  • addisonmbaddisonmb Member Posts: 3
    Yes,
    It's basically an option package on 2005 Ram 2500 4x4s
  • stoney4stoney4 Member Posts: 1
    Car Man,

    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
  • jboehmjboehm Member Posts: 44
    In response to a dealer ad I am looking at possibly leasing a 2005 Dodge Dakota SLT Quad Cab. I am looking at what the residual value will be since I MIGHT purchase the truck at the end of the lease (I want it as low as possible). But the dealer is telling me that the residuals are all based on the MSRP and they do not change, only the payment changes. So if I put a larger downpayment the residual does not change. (Looking at your previous advice I should not put a downpayment on the truck) Is this true?

    What about pre-paying the entire lease. Good or bad?

    Thanks!
  • sweetness2sweetness2 Member Posts: 2
    Car Man -
    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
  • sweetness2sweetness2 Member Posts: 2
    Car Man - re: recent question, forgot to mention we are in NY City, working with dealers in NY and NJ.
  • jtoss15jtoss15 Member Posts: 4
    Thanks for the info Car Man,

    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
  • brianabriana Member Posts: 24
    Hey CarMan, you helped me out with the H3 the other day and I know I'm dealing with both ends of the spectrum here, but I just test drove an Audi A4 2.0 and I think it may have jumped to the top of the list due to practicality over the Hummer.

    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.
  • 123appraiser123appraiser Member Posts: 6
    Carman.

    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
  • dsinsocal1dsinsocal1 Member Posts: 27
    Hey Car_man,

    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
  • 351351 Member Posts: 3
    Hello Car_man,

    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
  • dwynnedwynne Member Posts: 4,018
    I understand that in most States, a lessee pays tax only on the payments and not on the entire sales price or cap cost. Does he pay tax on the interest component of the lease payment also? If so, at the end of each quarter, do the finance units or companies just keep that tax on interest as a profit?

    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
  • dwynnedwynne Member Posts: 4,018
    36/36k - 59% 0.00073 MF
    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
  • eman4eman4 Member Posts: 3
    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
    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?
  • zed1zed1 Member Posts: 6
    Car_man,

    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
  • s60leasers60leaser Member Posts: 61
    Looking for 2 cars.I'm getting the runaround on pricing,money factors and how they add up to a lease payment.Whats a reasonable lease pymt for a 05 s60r,with climate and premium,3 yrs,0 down and 10k/year? I have an offer of 454/month.Also want a "base"s60R and have been told there are none out there.Any help is greatly appreciated. :confuse:
  • s60leasers60leaser Member Posts: 61
    Hey Car-man
    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..)
  • baranisbaranis Member Posts: 9
    Thanks so much for the info on the S2000, my husband will be thrilled.

    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.
  • baranisbaranis Member Posts: 9
    Sorry - don't know if you need this but:

    Both leases would be for 36 months and for 12k miles each.
  • kyfdxkyfdx Moderator Posts: 265,547
    Just a quick note... The selling price on that S2000 is way too high..

    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

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • jspearsjspears Member Posts: 9
    Cadub49er,

    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
  • sesslsessl Member Posts: 1
    Anyone have any info regardiing these cars? They have been out for a few months yet they don't seem to be selling. I'm looking to get into a 24/30k mile or 36/45k lease. Any idea as to residual and money factor?

    Thanks
  • hclhcl Member Posts: 2
    Sunday (6/19/05) I signed a lease deal on a 2005 Murano but by 4:30 Monday morning I felt sick to my stomach. (At which point I got back in the car where the nice leather smell helped to alleviate the nausea!) I did a lot of research and feel I got a reasonable deal, although I didn't get insurance quotes, which were $40 more than anticipated. I only wish I had been more practical but it was sooo pretty! (I should have taken a stronger-willed friend with me!) I feel sure it's a 'done deal' but I just wanted to make sure there wasn't some type of short return period with car leases/purchases in the state of Georgia. Thank you for your input! (-:
  • dg170dg170 Member Posts: 3
    Thank you for your help Car_man. :)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks gperr. If you were to lease a 2005 Infiniti G35x through Infiniti Financial Services right now for 36 months with 12,000 miles per year, its base lease money factor and residual value should be .00185 and 61%, respectively. The numbers for an otherwise identical 39 month lease should be .00198 and 59%.

    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%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi 123appraiser. If I was leasing this vehicle, in addition to the information that you have already been given, I would want to know its full MSRP and the lease money factor that is being used to calculate your monthly payment. At least find out the MSRP. This number will give us an idea of how much of a discount you are being given and it will enable me to calculate a sample lease payment using Volvo Finance's actual lease program for you if you would like.

    Car_man
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  • eman4eman4 Member Posts: 3
    Car_man,
    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.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I certainly do, Dennis. If you were to lease a 2005 Mazda RX-8 with an automatic transmission through Mazda's captive finance company right now for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00148 and 46%, respectively. In addition to this special lease money factor, Mazda is providing $1,000 cash on leases of this car in June. Make sure to take this money into account when negotiating your RX-8's capitalized cost.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello kfl. If you are interested in leasing, you will probably be much better off going with one of the 2006 or 2005 model year trucks that you mentioned than the used Lexus RX 330 or Nissan Murano. I say this because in most instances used vehicles do not receive any sort of lease support like new vehicles often do. As a result, it is often much more expensive to lease a used vehicle than one would initially think it would be. If you let me know how long you want to lease for and how many miles per year you need to be able to drive I would be happy to tell you what these vehicles' current lease programs are like.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, dsinsocal1. General Motors definitely does not adjust its vehicles' residual values on a weekly basis. General Motors has not changed its lease program for the 2005 Chevrolet Tahoe since June 1st. Let's work up a sample lease payment on this truck for you and see what we come up with. According to my calculations, if you were to lease a 2005 Chevrolet Tahoe with an MSRP of $40,735 and a selling price of $34,530 through GMAC for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $455 or so.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I would be more than happy to give you my opinion of this deal, doremi1. However, it would be helpful if you provided me with this car's full MSRP and how many miles per year this lease allows. Let me know and I will let you know.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Ahhh I see, addisonmb. Thanks. Unfortunately, I have not seen Chrysler Financial's current lease program for this truck. Sorry that I could not be of more help.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, Stoney4. I am glad that you find this forum so informative. If you pay your leased vehicle's sales tax upfront you risk losing the money if your vehicle is totaled in an accident or stolen. On the other hand, if you roll the tax into your lease then you have to pay interest on it. I personally prefer to add sales tax to my vehicle's lease payment rather than pay it at lease signing.

    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.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jboehm. Vehicles' residual values are based upon a percentage of their full MSRPs, including destination charges. A car or truck's exact residual depends upon how long you lease it for and how many miles per year you need to be able to drive it. Individual dealers do not have the authority to alter banks' published residual values. Having said this, some banks do allow dealers to lower, definitely not raise, vehicles' residual values. Most consumers would not want to do this though because the lower a vehicle's residual value is, the higher your lease payment will be. The only time that I can think of that a consumer would benefit from a low residual value is if their company was paying for their lease and they has the option to personally buy their vehicle for its lease-end purchase price at the end of their deal. Down payments on leases are not a good idea. They have absolutely no impact upon your vehicle's lease-end purchase price. You would have to pay exactly the same price for the vehicle that you want at lease-end, regardless of whether you had made a $10,000 capitalized cost reduction or absolutely none.

    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.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello sweetness2. Toyota Financial Services' lease program varies depending upon which one of its twelve regions you lease in. If you let me know what state you are in, I may be able to give you an idea of what its program is like right now on the truck that you are considering. In most instances, Toyota's customer cash incentives cannot be used in conjunction with Toyota Financial Services' special lease program. There's nothing wrong with rolling items like your vheicle's acquisition fee or state taxes or fees into your lease, provided that you understand that doing so forces you to pay interest on them. I am not personally all that familiar with what gap insurance would cost on this truck right now.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Ahhhh, I see in the next post that you stated that you are in Toyota's New York region. Toyota's current base lease money factor and residual value for a 36 month, 15,000 miles per year lease of a 2005 Highlander Limited AWD in your area should be around .00120 and 57%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome JToss15. Lease cash is a cash incentive that is compatible with a manufacturer's special lease program. The $1,500 customer cash that is available on the 2005 Altima in June is not compatible with NMAC's special lease program, but $500 lease cash is.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey briana. Let's work up a sample lease payment on the specific car that you are interested in and see what we come up with. According to my calculations, if you were to lease a 2005.5 Audi A4 2.0T quattro Sedan with an MSRP of $35,800 and a selling price of $33,800 through Audi Financial Services right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $455. At lease signing with this deal, you would have to pay your car's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 or $50 increment, AFS' lease acquisition fee of $575, and any required state taxes or fees.

    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey dsinsocal1. Here is the Trailblazer info that you are looking for. If you were to lease a 2005 Chevrolet Trailblazer through GMAC right now for 36 months with 12,000 miles per year, its base lease rate and residual value should be 4.0% and 60%, respectively. Using these numbers, an MSRP of $32,170 and a selling price of $28,203 I come up with a pre-tax monthly payment of around $327 without a capitalized cost reduction.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, Jeff. If you were to lease a 2005 Honda S2000 through American Honda Finance Corp. right now for 36 months with 15,000 miles per year, its base lease money factor and residual value should be .00073 and 57%, respectively. The money factor for an otherwise identical lease with only 12,000 miles per year would be the same, but the residual value would be 2% higher. The selling prices of leased vehicles are negotiable and I suspect that it is indeed possible to negotiate a lower cap cost than the one that Honda's advertised lease payment for this car is based upon in most areas.

    Car_man
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  • dwynnedwynne Member Posts: 4,018
    I didn't give you enough info, sorry.

    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
  • ptkimptkim Member Posts: 14
    Good day Car_man,

    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
  • s60leasers60leaser Member Posts: 61
    Hey Carman
    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...
  • aharris3aharris3 Member Posts: 1
    I'm deciding between buying and leasing a 2005 Honda Pilot LX. I've been told by various dealers that the price is $25,300. I would like to know the residual value of the car (in New York) and what a good lease price for this would be, for 36 months. Please let me know what, if any, additional information you need would be.

    Thanks very much.
  • dwynnedwynne Member Posts: 4,018
    You take the net cap cost of your lease without the tax and calculate the payments. Let us say that comes to $500 a month even for a 36 month term. Then you apply the local tax rate to the payment, let us say that is 8%. So $500 x 0.08 = $40 per month in tax or $1,440 in tax due for the life of the lease.

    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
  • andy2812andy2812 Member Posts: 79
    Dwynne,

    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
  • wongx2wongx2 Member Posts: 9
    My dealer quoted me .00205 as the money factor for my 2005 S60R. We've agreed on a $34,250 Cap cost. Should I try to obtain my OWN lease finance deal, possibly via Edmunds? How do I know what the REAL money factor should be from the dealer?

    thx,
    Edward
  • dwynnedwynne Member Posts: 4,018
    I get the numbers you did, but I didn't see where you paid any dealer or "doc" fee. Around here those are on EVERY car dealer's deal and can range from $100 to $500.

    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
  • dwynnedwynne Member Posts: 4,018
    In order to get the cheap cap cost the dealer is having to run the lease through a 3rd party bank and not through Volvo financial. I don't think there is any way for us to know if they are marking up the MF on the deal or not.

    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
  • andy2812andy2812 Member Posts: 79
    The only doc fee was $45. My total out-of-pocket was $604.15. Even the security deposit was waived because I had a prior Nissan lease.

    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.
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