Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/22 for details.
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/22 for details.
Options
Lease Questions - Ask Here
This discussion has been closed.
Comments
Also, I know you advise against down payments for leases due to insurance coverage in the event of theft. Do you recommend the same for balloon loans or is it ok to put a down payment down b/c I'd have the title? Thanks in advance.
Thanks--
Hoping you can once again help with some info:
MF & Residual for:
MBZ E350 (sedan and wagon) 36 or 39 months 12k per year.
TIA
CH
MSRP $49.9
Cap Cost $46.9
Term 4 yrs; 10k mi/yr
Money Factor .00268 (6.43%/2400)
Residual 47%
Sales Tax 7.325%
Payment $730
Nothing down
I believe Cap Cost should be $45.5-46k; residual 50-53%....any thoughts
Remember also that everything is negotiable. I just leased a new Accord and sent emails to every dealer in the area. Once I was able to confirm the best price I was going to get and the standard MF/Residual from AHFC, I went to my local dealer and said can you beat it. They beat the lease price by a few bucks but adjusted the residual and money factors so that they made more money.
Let us know once the dealer confirms the numbers.
The G35 looks to be a great deal - I had been considering an Accord, but the G35 is nicer (to me), plus it's all wheel drive, which would be nice for my wife in the New England snow.
on a base G35x automatic, MSRP 33,330 with a selling price of 29,999 for 36 months, 10k miles/yr, the dealer is quoting payments of $329/month, with residual of 60%.
Something doesn't add up to me. Should I just jump on this deal and let them worry about how they make any $?
I'll double check for this month. Last month, people were saying 1500 under invoice was a good price for an Accord, especially a 6spd (which seems counter-intuitive on a short supply model). People were also saying to wait for July 18th, when Honda is having it's annual summer clearance.
Either way, I want to figure out whether the G35 is in my price range. I prefer that car's sporty character and all wheel drive.
Thanks for the post!
Tim
Nothing about this sounds familiar ... as in -0- .......
#1.) the dealer doesn't have anything to do with a lease after you sign the papers and take delivery --- they don't have the title and are not a decision maker, so your talking to a 3rd party.
#2.) you need to get with VW credit and get a direct pay-off and cut the dealer out of the transaction and purchase direct.
#3.) I'm sure you can find a lender that will handle the loan for a competitive rate, because you're right, these stupid looking things get some "big" money on the resale side .....
#4.) you lost me on the tax thing .. there's no such thing as no-tax and pay later, I would need to see that contract .l.o.l..
Terry
Did you hear back from Car_Man? I don't know what to do about leasing an X3. Seems like their incentives get better and better. End of this month is crazy for me. I'd be better off waiting until end of August. But by then the selections may be low, and I probably wouldn't be able to order.
Do you have a lease on an X3? Seems like we've talked before.
Can you give me the money factor, residual, and incentives on a 36 month 15,000 mile lease? Thanks.
I am looking at leasing the 2005 Lexus RX 330 FWD with Premium Plus Package. I am interested in a 3 year lease with 12k miles per year (I currently have a 4 year lease on an MDX and find it way too long). What kind of numbers should I be looking for? I really need some help here, because the first time I ever leased was my MDX and I feel like I probably got nailed to the wall then and don't want to repeat the same mistakes this time. Thanks in advance!
Quote from a dealer:
"Regarding the FX35 with the Touring Package only, has a list price of 38.460.00 and a invoice of 35.247.00
On a 36mo lease including tax your payment would be 518.00 with 527.00 total down.
On a 39mo lease including tax your payment would be 494.00 with 503.00 total down.
The residual is 59% @ 36mo @ .00176
The residual is 58% @ 39mo @ .00171, Let me know if this will work."
Down payment is nothing more, nothing less. Anything I am missing?
Sounds good?
First time leasing. Tried to study up, but here's the deal offered so far-
36 month
12k/yr.
330/month (not including taxes)
no other fees. Gap insurance included.
Any feedback from anybody would be great
I've had a salesman at a Pontiac dealership tell me that they do that fairly frequently; they buy the car from GMAC, the customer pays the price plus the "pack", and the taxes and fees, of course.
I'd rather do a "Terry" and deal with the finance company directly. Seeing as how THEY own the car and the dealer doesn't. But I would expect that there are companies that don't deal with customers because of the hassle, but would rather sell a car to the dealer that took it in than have to go get the car and cart it off to auction.
Presumably, it comes down to the practices of the finance company; the only reason to involve the third party (dealer) is if VW of A won't talk to you about the price. I've never heard one way or the other.
And of course, taxes and license fees are due in any case. Illinois might be an exception or any state where the sales tax is due on the entire value of the car, but I bet that only applies if YOU buy the car, not the dealer.
That's a lot of typing to say "I don't really know"...
-Mathias
Since wife lost job, I do not think I can afford the new auto lease. What should I expect/do if I just went to the dealership and give the keys back to them?
What kind of lease / broken contract fees if any do apply? Well it would be a repo? no?
The dealer doesn't have nothing to do with the lease, it's between you and the lease company ..... it won't be a broken contract, it's gonna be a "repo" and it will ruin your credit, that's why I recommended grabbing some overtime ...
Terry.
You can do that with a brand new Bimmer, Chevy, Benz, Caddy, Audi, etc etc ........
Terry.
Thanks
Can you tell me what you think of these numbers Leaseman?
2005 Hummer H2 MSRP is $61,510 and cap cost of $53,533. (GM Employee Discount Program)
3 year 12k/year miles LEV% is 59.
residual value is $36,290
APR is 6.45%
Tax is 9%
1,730.80 due at signing, including first months payment of 789.30.
2 year lease as above except $40, 596 residual and 1886.75 due at signing including first months payment of 870.25.
I do not know the 'money factor'. Perhaps it is related to the 6.45% gm APR?
Pertinent facts:
MSRP = 36528
Lease Price = 31426
Residual = 54%
Term = 48 months
Miles = 12k /year
Interest = 5.9%
$2,000 down payment
What SHOULD my lease payments be with the information above? I appreciate any help or guidance!
Thanks!!!!
Is this enough info for anyone to determine what my payments will be? Does the TMV (mentioned above) have any relevance, or do you just need the invoice figure? I don't want to be at the mercy of the dealer.
Any help is appreciated.
Thank you.
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Please supply me with the residual and MF for the following vehicles (automatic transmission) that I am considering leasing so I can calculate a projected lease payment:
2005 Lexus IS 300
2005 Infiniti G35 Sedan
2005 Audi A4 1.8T with Ultrasport package
2005 Mercedes C230
2005 BMW 325i
36 month
15,000 miles/yr
Location is: 48867 (Michigan)
Hope that is all the info you need. Do you forsee any current or future lease program incentives from these manufacturers? I know I have asked for alot. Thanks in advance.
If you were to lease a 2005 Lexus IS 300 without navigation through Lexus Financial Services right now for 3 years with 15,000 miles per its base lease money factor and residual value should be around .00170 and 51%, respectively.
If you were to lease a 2005 Infiniti G35 Sedan 2WD through Infiniti Financial Services right now for 3 years with 15,000 miles per its base lease money factor and residual value should be around .00140 and 58%.
As I mentioned earlier, Audi stopped providing lease support on 2005 A4 models. It only has support on 2005.5's right now. So this car's lease program is not going to be pretty. If you were to lease a 2005 Audi A4 1.8T Sedan with quattro through Audi Financial Services right now for 3 years with 15,000 miles per its base lease money factor and residual value should be around .00255 and 51%.
If you were to lease a 2005 Mercedes-Benz C230 Sport Sedan through Mercedes-Benz Credit right now for 3 years with 15,000 miles per its base lease money factor and residual value should be around .00200 and 56%, respectively.
Lastly, if you were to lease a 2005 BMW 325i through Infiniti Financial Services right now for 3 years with 15,000 miles per its base lease money factor and residual value should be around .00270 and 52%.
It is difficult to say what these models future lease programs will be like, but as you can see a number of these automakers have already phased out their leases support on 2005 models. This is a fairly common occurrence at the end of the model year. Late in the year vehicles' residual values have fallen to the point that it often no longer makes sense for manufacturers to pay tons of money to provide lease support on them. I suspect that the lease programs on these 2005 models will continue to get worse in the coming months. If you have your heart set on one of these cars, you can hope that its lease support is replaced with dealer cash. However, in at least one instance that I can think of, BMW, the dealer cash on '05 models has already come and gone.
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
You can determine approximately how much it will cost you to get out of this lease by comparing your Element's purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". One of our most knowledgeable community members, Terry, frequents that discussion and he is often kind enough to give community members who give him an accurate description of their vehicles with his opinion on their value. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off driving the Element yourself for the remainder of the lease and giving your wife your other vehicle, provided that it is not leased.
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Guess I was sorta hoping for some kind of miracle.
I've heard about swaplease and lease trader--will they do me any good?
Again, thank you
Genem1
I am considering a lease with the following terms:
28,748 price
$2000 for a trade in
works out to be a 48 month term lease
$400 per month includes tax
Does this sound reasonable to you?
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum