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  • smd522smd522 Member Posts: 5
    Car Man - Thanks for your help.
  • cupholder1cupholder1 Member Posts: 231
    Car Man:

    Thank you for the information.

    I just received a "no haggle" quote on a C230K, manual, with a roof, which stickers at 26,590... 3 year lease, 15k miles a year. $1660 down, $359 a month (+tax). With these numbers, they must have taken a hefty amount off the sticker. Can you tell me just how much? Thanks.
  • blerner2blerner2 Member Posts: 47
    Carman,

    Could you please provide me with the current 36 month/15,000 mile residual values and money factors for the following:

    2002 Accord SE
    2002 Accord LX-V6
    2002 Accord EX
    2002 Mazda Protege5

    Also, do you believe Honda will be sweetening their lease deals on the Accord as the model year progresses as this is the last year of this model and they will want to try and keep a sales leadership position.
  • im_brentwoodim_brentwood Member Posts: 4,883
    Yup.

    54%? Theyre nuts!

    Bill
  • shaker58shaker58 Member Posts: 130
    can you please give me the current rates on a 3 year lease on a gmc yukon and yukon xl

    thx
    gary
  • dgraves1dgraves1 Member Posts: 414
    Part of the reason that residuals are so low on Expeditions is that they are selling for way, way below MSRP. I'm looking at a 2001 Eddie Bauer stickered at nearly $40K, selling for $30K. So it sounds like I'm looking at right around $500 per month for 36 months.

    I wonder how that compares to a Sequoia. Do you have the money factor and residuals for those?
    Thanks.
  • mdx4funmdx4fun Member Posts: 11
    My sales told me that the lease payment is calculated base upon the selling price plus tax and license. Is that right?
  • punky97punky97 Member Posts: 4
    Car_man
    Could you please tell me what the residual value and the money factor are for a 36 month lease on a 2002 altima S? Thanks
  • fgrethelfgrethel Member Posts: 24
    The quote that you were give appears to be at full list with a 65% residual and a money factor that is slightly higher than the current .00319 being offered by MBZ Finance. If you use the .00319 (7.656%) and the 65%, your pre-tax payment should be 347.05. $11.95/mo above this that they quoted to you multiplied by your term is an additional $430.20 in profit for the dealer above their full MSRP mark-up. Only you can decide if this is a "deal." In essence the dealer has added additional profit to this deal above and beyond what MBZ Finance would charge you. Be sure to be careful with your acquisition fee. Dealers often mark this up as well. Do you know what you will be paying?
  • lotus18lotus18 Member Posts: 37
    Car_man,
    We are about ready to decide on the vehicle we want to lease and go to the dealership for the challenge.
    Thanks to you, we are armed with the info that you have given us and are quite confidence to figure out the payment ourselves. However, we are not so sure what are we to expect to pay at the dealership before we can drive our car home. Can you itemized the cost we would expect to pay when we sign the lease contract ? I heard there are quite a few of them, other than just the 1st month payment, secutity deposit, and documentation fee and.... so on. Please tell us exactly what else we would be asked to pay ?
    Thanks.
  • fgrethelfgrethel Member Posts: 24
    The quote that you were give appears to be at full list with a 65% residual and a money factor that is slightly higher than the current .00319 being offered by MBZ Finance. If you use the .00319 (7.656%) and the 65%, your pre-tax payment should be 347.05. $11.95/mo above this that they quoted to you multiplied by your term is an additional $430.20 in profit for the dealer above their full MSRP mark-up. Only you can decide if this is a "deal." In essence the dealer has added additional profit to this deal above and beyond what MBZ Finance would charge you. Be sure to be careful with your acquisition fee. Dealers often mark this up as well. Do you know what you will be paying?
  • cupholder1cupholder1 Member Posts: 231
    Thanks for the info.

    I was looking for just a quick phone quote to see if a MB was a viable leasing option for myself. Since it appears to be that way, I can work on haggling on the interest charges and cap cost if I go with a MB.

    If MB starts charging a competitive money factor, their lease deals would be almost out of this world.
  • shaker58shaker58 Member Posts: 130
    hi carman

    looking for a new suv for my wife looked at yukon ml320 and acura been getting quotes for high 600's trying to get under 600 any deals out there that Im missing 3yr 36000 miles fully loaded taxes 8.5% no $ down
  • akanglakangl Member Posts: 3,282
    Do you know if its possible to buy out a lease early? I am 9 months into a 48 month lease on a 2001 Jetta, I want to purchase the car next month, not refinance, pay it off. I want to try to negotiate the pay off because its much higher then the car's current value. Do you know if that's possible with VW Credit? Thanks for any info.
  • tboner1965tboner1965 Member Posts: 647
    I drive a ton of miles per year, about 30K. I have one beater car and a nicer car. However, I like a different car every couple of years. I take care of my vehicles very well, don't leave french fries all around, avoid shopping cart kisses (even with the 87 Buick) etc.

    I am seriously considering getting rid of the two cars and exploring lease options on a BMW 325i with Sport Package and Xenon lights.

    Any idea of what to expect for a 24month/30Kperyear lease.

    I'm hoping the relatively high values BMW's hold help keep up the residuals.

    BMW's website only quotes a 24/15k lease for 431/month on the car configured the way I want it. A 24/10k is $396.

    What should I expect to pay for an additional 30K miles over the course of the lease. The penalty is $0.20/mile. However, I believe you can get them cheaper if you figure them in up front.

    Suggestions, I'm going to see if I can kick the tires tomorrow.

    And of course, am I nuts?

    TIA

    TB
  • im_brentwoodim_brentwood Member Posts: 4,883
    1) Deal with Autohaus Clayton or Plaza. NOT the clowns on Manchester.

    2) Figure 12-15c per mile, upfront, off of the residual...Then compute from there. So figure 30,000x.15=$4,500 deduct from the residual or something like another $180/mo on a 24 mo lease...

    Bill
  • tboner1965tboner1965 Member Posts: 647
    from my office :D

    Damn them, they park some of their inventory in our parking garage :D

    TB
  • bluesky999bluesky999 Member Posts: 253
    CarMan,

    I saw in previous posts that the Saab has a lease cash program going. Would you know what (if any) lease cash would be available for a plain Saab 9-3 (w/auto & leather)? Also, the associated money factor, etc.?

    Bluesky
  • art37art37 Member Posts: 8
    Sorry Jason!!! Just figured out how to post here (not savvy at these boards) .... am in need of help... have a 1999 Dodge Ram 1500 Quad Cab ST w/ 414 monthly payments - still owing abt 15000.... want to lower monthly payments to around 200-225 so thinking of a trade-in then leasing a truck... considering Ford F50 XLT ½ ton, GMC, another Dodge or Toyota Tundra - along the same style as current Dodge... keep truck in very good condition - drive approx 20000 a yr (is mileage negotiable or always set 12-150000) ...is it do-able??? any advice, counsel, help, wisdom is most sincerely appreciated!!!! thanks, rose
  • bryancalhounbryancalhoun Member Posts: 13
    Am looking at the 2 above and am in Northern California. Any ideas on year 2001 and 2002 residual and money factor for 36/39 months???

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, smd522. I am glad that I was able to help you out.

    Car_Man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Cupholder1, you're welcome, too. According to my calculations, if you were to lease a 2002 C230K with an MSRP of $26,590 for 3 years with 15,000 miles per through Mercedes-Benz Credit Corporation right now using their base lease program for consumers who qualify for their top credit tier, to arrive at a monthly lease payment of $359 with $1,660 down they would have to be using a selling price of right around this car's full MSRP. So there definitely is nothing special about the payment that you were quoted. The dealership that you are working with should provide you with the price that they are charging you for the vehicle that you want to lease if you ask them to. In fact, under regulation M, they are required to share this information to you in your contract. If your dealer is unwilling to tell you how much money they are charging you for the car that you are interested in, then perhaps you should shop around.

    Car_Man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi blerner2. Actually, Honda has sweetened their lease program on the 2002 model year Accord quite a bit over the past month or two. They have a very respectable lease money factor of .00142 available on all 2002 Accords for up to 39 month terms right now. The corresponding 3 year 15,000 miles per residuals for the Accord are as follows, 55% for the 2002 SE, 53% for the LX V6, and 57% for the EX. Mazda is also providing a respectable 3 year lease money factor of .00190 on the 2002 Protege 5 through its captive finance company right now. this car's residual values are a little lower than the Accord's though. The 3 year 15,000 miles per residual for a 2002 Protege leased through Mazda American Credit is 46%. It is difficult to say if either of these companies will enhance their lease programs in the near future. If I had to guess, I would say that they will attempt to keep the lease price points around what the are like right now for the next couple of months, by enhancing the money factors on them just enough to offset any sort of fall in their residual values.

    Car_Man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi again Gary. General Motors has done away with all of their lease support on its 2001 models, so it really only makes sense to lease 2002 model year vehicles through GMAC. Of course, I guess that it really doesn't matter what model year truck you want to lease through GMAC in this particular instance though, because to the best of my knowledge General Motors is not providing any sort of lease rate support on either the Yukon or Yukon XL at this time. If this is the case and you were to lease one through GMAC, you would have to use their standard lease rate. Their standard rate will vary from 6.75% to 7.99% depending upon what dealership you go to, which is not very competitive and likely can be beaten by a number of independent banks out there.

    Car_Man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Dgraves1, since Toyota is not providing any lease support on the Sequoia right now the lease interest rates that are available on it will be no where near as attractive as they are on the Expedition. You are right though, the residual values for the Sequoia are likely to be significantly higher than those that are available on the Expedition. For example a 3 year lease on a 2002 Sequoia would have a 15,000 miles per year residual value of 61% on the base version and 55% on the Limited version. These residuals are about 10% to 15% higher than those for the 2002 Expedition!

    Car_Man
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  • dgraves1dgraves1 Member Posts: 414
    Thanks, how about residuals for 12K/year and money factor for the Sequoia?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Mdx4fun, a vehicle's capitalized cost is based upon its selling price minus any sort of down payment that you make. Different states use different methods to calculate the sales tax on leased vehicles so I hesitate to comment on whether this is being done correctly in your particular situation. Generally speaking though, it would be a serious violation of the law for a dealership to incorrectly calculate a vehicle's taxes in an effort to make additional money on a customer, so you should be able to trust their tax calculations. If you don't, you can always contact your local Department of Motor Vehicles to see if they would be able to give you some more information on exactly how it should be calculated in your area.

    Car_Man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I would be happy to, punky97. Right now if you were to lease a 2002 Nissan Altima 2.5 S through Nissan Motor Acceptance Corp. for 3 years with 15,000 miles per the lease money factor and residual value should be .00235 and 52%, respectively. By the way, if you haven't seen me say so in my previous posts on this car, I think that Nissan did an outstanding job with the new Altima's redesign.

    Car_Man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Lotus18, the main things that consumers are required to pay when they take delivery of a new leased vehicle are its first month's payment, security deposit, and acquisition fee. The acquisition fee, aka bank fee, can be often be rolled into a leased vehicle's capitalized cost. Keep in mind though that doing so forces one to pay interest on it. Any other sorts of fees would include the typical tax, title, and license that may be rolled into your vehicle's capitalized cost depending upon your area's specific laws. If a dealership tries to charge you for any item other than the ones that I have mentioned, like a doc fee or an advertising fee, they are likely trying to pad their profit or help to pay their overhead.

    Car_Man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Akangl, as I am sure you are well aware you are likely very upside down if you are only less than one year into your four year lease. This means that you probably owe more money on your car that it is currently worth. As long as you don't plan on trading your car in, this shouldn't be that big a problem. It is difficult for me to say how willing to work with you VW Credit will be. The only way to find out for certain is to given them a call to see how much money it would cost to buy-out your cat at this time.

    Car_Man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Bluesky, I believe that Saab currently has $4,000 Lease Cash on the particular model that you are interested in (2001 9-3 base). In order for me to provide you with this car's lease money factor, I need you to let me know how long you would like to lease it for and how many miles per year you want to be able to drive without being assessed a lease-end penalty. Once I have this additional information I will be able to provide you with an idea of this car's lease parameters. Talk to you soon.

    Car_Man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Rose. Are you currently leasing your truck or are you financing it? If you are leasing it, you will need to call the bank that you are leasing it through to find out exactly how much money it would cost to buy out your vehicle right now. If you are just financing it, you need to do some research to find out approximately how much money it is worth right now. You can find out approximately how much money your truck is worth by taking a look at the various on-line price quotes, asking other community members over on the Pickups Message Board, and even by checking out advertisements in your local newspaper. Once you have come up with a realistic assessment of what your truck is worth you can either try to sell it on your own or trade it in at a dealership. Consumers usually are able to get more money for their used cars and trucks by selling them privately, but doing so is often quite a hassle and does not have the tax benefit that trading a vehicle in provides. I believe that you mentioned that you are interested in leasing your next vehicle. I am sorry to say that you aren't going to be able to lease much of a truck, if any, for your target monthly payment of $200 to $225. This is especially true if you are going to need to lease your new vehicle with 20,000 miles per year.

    Car_Man
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  • hsj1906hsj1906 Member Posts: 42
    Hey Carman. any news yet on the 36 and 48 month residual values for the 2002 Lexus ES 300 (15k/year)?

    Thanks.
  • mdx4funmdx4fun Member Posts: 11
    Thanks. Found out that my salesperson is right. I had leased the BMW X5 3.0i with steptronic, sport package, premium package, climate package, Xenon headlights, navigation system and cd-changer.

    I brought along your info. and show it to my sales. He is glad that I had this info. and ask me how do I find out this kind of info. so fast. He said he just know the BMW had enhanced the lease program last week and I already had the info. Thanks for you.

    He also said he never seen BMW had such a low money factor on the vehicle. Thanks again.
  • art37art37 Member Posts: 8
    think am getting the hang of posting it now and Thank You very much Car Man!!!! have done a used valuation and the wholesale value is 13930 and retail 18550 on the 1999 Dodge Quad 1500 Cab 4 door (has 50,000 miles and still owe 15000).... realize wholesale is what i am looking at.... how can i make the numbers crunch.... if truck is valued at a trade-in 14000 (rounding it off) - what would i have to put down for a purchase of a newer (2000/2001) Dodge Quad 1500 Cab 4 door or to lease one to make payments of $250 per month.... am trying to get from underneath 414 monthly payment and am wondering if there is any number scenario that could make that a happening ..... am relating to taking a loan on a house - the higher the down payment the more reasonable your monthly payments become and wondering if that principle could be applied to purchasing or leasing a newer truck and what would those numbers have to be to realize the target of $250 max or am i totally off base.... Thank You!!! so much for your time and for your expertise - it is most sincerely appreciated - you are a peach!!!! rose
  • hsj1906hsj1906 Member Posts: 42
    Is there any difference in the residual value or money factor between a Saab 95 aero, Saab 95 SE and a Saab 95 2.3T (for 3 years and 15k per year)?
  • cupholder1cupholder1 Member Posts: 231
    Car Man:

    I just received an email from a MBenz dealer stating that MB has just decided to lower their lease and finance interest rates on their entire line. I understand it is currently .0319. Has it gotten any lower? I'd like to know the new rate before I call the dealer. Thanks.
  • bluesky999bluesky999 Member Posts: 253
    $4000 Lease Cash sounds pretty good. I would like the Saab 903 (base) for 36 months, at either 12K or 15K per year. Thanks so much, and I'm looking forward to your response...

    Bluesky
  • bluesky999bluesky999 Member Posts: 253
    Carman, I meant the Saab 9-3, not 903. Sorry about that--my fingers weren't obeying my brain tonight.
  • akanglakangl Member Posts: 3,282
    Thanks. I did call VW Credit and they told me they will not negotiate the buy out price of the car. So, that means I am going to be paying $20,000 for a car that is only worth about $15,000 trade in. I will pay it off and then trade it in on a $7500 SUV get a check back for the difference and pay half the loan off on my hubby's truck. Live and learn I guess.
  • im_brentwoodim_brentwood Member Posts: 4,883
    Why not just keep it for a little while?
  • akanglakangl Member Posts: 3,282
    Several reasons. One, I kind of need 4WD, two, I can't haul grain for my new horses with the Jetta, and three, if I sell it and buy something cheaper I can have hubby's truck paid off by spring.......read......NO CAR PAYMENTS!!!!
  • cupholder1cupholder1 Member Posts: 231
    Word of advice:

    If you're going to pay it off, sell it yourself instead of trading it in. You'll get a lot more money selling it for yourself.

    If you want to trade it in anyway, absolutely positively DO NOT PAYOFF YOUR LEASE! You will have to pay sales tax on the 20k payoff! So listen to me good here. If you make a straight trade to the dealer, the dealer will pay it off and role over the negative equity in the new car, or you can pay cash to the dealer for the difference. But at least this way you won't be paying sales tax. Hope this advice saves you some money.
  • shaker58shaker58 Member Posts: 130
    If I pay all my payment upfront wiil I get the payments back if car is stolen or totaled
  • cupholder1cupholder1 Member Posts: 231
    you will get back the vehicle's current market value -- if it was properly insured.
  • maxwella11maxwella11 Member Posts: 14
    I picked up my new 225 hp '01 TT roadster this weekend. Thanks to your great information, I caught the salesman's mistake on the money factor, and felt comfortable negotiating a great deal. You provide a wonderful service--it feels really good to be an educated consumer.

    Kelly
  • punky97punky97 Member Posts: 4
    Car_man
    Thanks much for your help.
  • lengutmanlengutman Member Posts: 1
    Hi.

    My lease is up on Feb. 15 (last payment Jan. 15). I'm going to be about 10,000 miles over at .15/mile. My RV is around $14,500 and Kelley online says trade-in value is around $12K. If I turn in the car at lease end I'm going to have to pony up $1,500 or so. I don't want to buy it. I don't want the hassle of selling it privately.

    Can I effectively "trade it in" when I lease a new car, hope the dealer gives me close to RV for the car, then add the difference onto the cap cost of my new lease? At least that way I'm sort of paying the $1,500 over 3-4 years instead of all at once at lease end. Or must I "turn it in" and fork over the $1,500 to BofA?

    Thanks.

    Len
  • im_brentwoodim_brentwood Member Posts: 4,883
    Why not post about the car over in real-world trade-in values or check Edmunds TMV?

    We can give you an idea of its' current wholesale value..

    In my experience as a dealer though, its' generally much cheaper to just pay for the extra miles that you used.

    Bill
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes, I have finally seen the residual values for this car. I actually have had a chance to see it in person, too. I must say that fortunately Toyota did a much better job with the styling for the 2002 ES 300 than they did with the 2002 Camry. For some reason the waffle grill and rear end of the Camry just rub me the wrong way. The ES 300 looks very nice though. As one would guess, Toyota is not providing any sort of lease money factor support on the brand new ES 300 right now. So if you choose to lease one through Lexus Financial Services, you would have to use their standard lease money factor of .00270 for all terms. The 36 and 48 month 15,000 miles per year LFS residual values for this car are currently 58% and 51%.

    Car_Man
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