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If I was in the market for an Acura RL, I personally would seriously consider leasing it rather than financing it. I say this because Acura is providing $2,500 dealer cash on leases of '05 RL models this month. This cash incentive is not available on models that are finance or are paid for with cash. If you decide to lease, make sure to take this cash incentive into account when negotiating your car's capitalized cost. I would be more than happy to calculate a sample lease payment using Acura's actual lease program on the RL that you are interested in for you, however in order for me to do so I need you to provide me with this car's full MSRP (with the destination charge added in).
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The reason why the dealer that you spoke with quoted you such a large down payment is that they were trying to make the monthly payment of the truck that you want look more attractive. This lease does not look like a very good deal. I suggest that you comparison shop with a few other dealers in your area. You shouldn't have much trouble beating this deal.
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If you were to lease a 2005 Audi A6 3.2 through Audi Financial Services right now for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00110 and 51%, respectively. Make sure to take the $1,000 dealer cash that is available on leases of the 2005 A6 3.2 into account when negotiating this car's capitalized cost.
If you were to lease a 2006 Infiniti M35X through Infiniti Financial Services right now for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00204 and 61%, respectively. A number of banks, I believe including IFS, allow consumers to buy down their vehicles' money factors by making additional security deposits on leases. You need to speak with your dealer to find out the exact reduction that IFS provides for each additional deposit.
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Leasing definitely makes sense with the special GM employee purchase pricing that is available this month. This program provides consumers with a low capitalized cost for the vehicle that they are interested in, resulting in an attractive lease payment. I would be more than happy to calculate a sample lease payment for a 36 month lease on the car that you are interested in for you if you let me know what its full MSRP (with destination charges added in) and selling price are.
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Your wife's commute is only 4 miles? Man, I wish that I had that problem
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Once you have read these articles and understand how leasing works, stop by the following discussion to try to get an idea of what sort of selling price you can expect to pay for this vehicle right now: "Volvo XC70/V70: Prices Paid & Buying Experience". When you have an idea of what you should pay for this vehicle, stop back here and tell me its full MSRP (with the destination charge added in), an approximate selling price, how long you want to lease it for, and how many miles per year you need to be able to drive it and I can calculate an approximate monthly lease payment on it for you.
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thanks,
Liandyk
1) The money factor is a monthly number.. multiply by 12, since APR is an annual figure.
2) Money factor is applied to the Cap cost plus the residual.. But, what it actually is trying to approximate is the average of those two figures.. Since the figures aren't averaged, but just added... multiply the MF by 2.
3) APR is expressed as a percent.. for example: 5.2%.. but really, it is a fraction.. more commonly expressed as .052 So, multiply by 100.
MF X 12 X 2 X 100 = approx. equiv. APR..
12 X 2 X 100 = 2400
Hope this helps..
kyfdx
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We are new to this whole new car thing and we would like some advice as to whether to buy or lease a new 2005 Honda Odyssey EX-L. We have researched it in our area and we think we have found the best deal we can. I believe that the price is about $28,000 w/o tax and title. (We are going to sell our 93 Volvo ourselves instead of taking the measly 2K trade-in they have offered.)
Our question is - how do we know whether we should lease or buy? We live in Pittsburgh 15238 and do drive to NY a couple of times a year to see family. I think we put about 15,000 miles a year on our present car. Of course we would like the lowest monthly payments possible but we don't want to get screwed with going over mileage.
What do we need to know to get the best deal?
What are your thoughts?? :confuse:
2) You have a '93 Volvo.. If that means you've owned it for 8-12 years, and that is what you plan for the Odyssey, then leasing is not for you..
3) If you can stay under 15K/yr, and think you'd like to trade the Odyssey after three years, then leasing may be for you.. but, not necessarily..
regards,
kyfdx
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1. That we need to get our Safety Test done at the dealership. Is this true? I'm pretty sure I heard we can get it certified at any certified auto mechanic (no doubt the cheaper option).
2. That we have to pay a $500 "administration fee". When I asked what this was about, he said it would be in my contract. We've both examined the contract, and it says nothing about an administration fee anywhere. However, it does mention we will need to pay "official charges" (along with applicable taxes, vehicle license & registration fees and all costs relating to the certification of the vehicle). "Official charges" sounds like a slippery term to me - is this how they're rationalizing their so-called "adminstration fee"? (And if this legitimates the "administration fee", what's to keep them from charging me $5000 or whatever amount they want?!)
Would really appreciate some honest answers on these matters.
Thanks!
Do you have the July MF and residuals for the following:
2005 Mini Cooper S Hatchback
36 months
12k per
2005 Mini Cooper S Convertible
36 months
12k per
This is for South Carolina if it matters.
Thanks!
MSRP 34,410
Purchase price 33,287. (This price includes a $695 destination charge but I'm ordering the car and planning to pick it up at the factory. Should I still have to pay this?)
It also includes something called "Dealer fee" of 249.00. What is this?
The term is 36 mo's / 12k Year. MF is .00265, Residual is 21,678.30 (63%). Initial pmt is 1334.12 which includes 1st pmt and security dep of 550.00. This also appears to include a doc fee of 249.00.
I questioned the MF since my credit score is 785 but was told that the score has no impact on the MF. That answer doesn't seem to jive with other postings I've read on this website. I am impressed that he's taking 1500 off of the sticker price without even being asked but wanted to make sure this was a good deal. I'm also being told that any car delivered after the end of this month will include a 1.5% markup. Is this valid?
Thanks for your help!
Can you tell me what lease payment to expect for the following:
Tier one financing rates
2005 Chevy Equinox
36 month 15,000 miles per year
MSRP - $29,690
Purchase - $26,021
Down - $500
Dealer rebate - $500
Thank you
2. The 93 Volvo is misleading. It was my grandparents and we have actually only owned it for 5 years.
I just want the best deal - dollar for dollar
Thanks
I'm about to lease a -
2005 Volvo S60 - AWD with premium / climate / metallic paint
MSRP - $36,660
Purchase - $30,100
Trade - $6,000
Tax - $1,505
I'm looking to lease for 36 months / 15,000 miles per year...
Can you tell me -
* the amount of the monthly lease payment
* will the lease be based on $24,100 ($30,100 purchase price - $6000 trade)
* will I be charged the full $1,505 tax upfront or will the tax be rolled into the monthly lease payment (will I only be taxed on the portion of the purchase price used)
* buyout price to expect
Thanks very much...
For example, I was quoted (on an Infinity G35x) a 34,000 cap cost with a 59% residual value ( $20,060) after a down payment of $1.500. Monthly payment comes to $448 ( MF of .00113) for 36 months.
To figure the lease cost w/ a 0 down payment, do I add the $1500 back into the cap cost ( $35,500) and does the residual go up accordingly based on the higher cap cost - ($20,945 using the same 59%) ??
Using my lease calculator the new lease is $468, only $20 per month higher or $720 for the life of the lease. Did I do something wrong? Is the residual figured differently? Thanks for your help.
$28K at 5% is about $530/mo.. Although that might be $150/mo. more than the lease, the Odyssey has great resale values.. Even if you drive it 80K miles in five years, it is likely to be worth $12K-$13K after that...
It would be different if there were low money factors or other incentives on the Odyssey, but at market rates, you'd probably be better off buying..
Sometimes the lower lease price is enticing, but it won't really benefit you in the long run.. If you typically keep a car five years or more, you are almost always better off buying, unless the lease specials just knock your socks off..
Don't equate a lower payment with actually saving money...
regards,
kyfdx
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Price seems likes its in line based on typical Employee Price of invoice minus 4% approx. Only problem with the Employee Pricing Website is it gives a price without regard to options so it won't always be as precise as you might want. Let me know what you decide I've certainly enjoyed my black Saab 9-3 Arc. Regards,
Dave
Would you be so kind as to provide the residuals and MFs on '05 FX35 and X5 3.0 with 39 mos. and 15K per year? Trying to decide and pick one up by the weekend (with $0 cap cost reduction, inceptions only). By the way, for Steve777 above, the residual is calculated based upon MSRP, so that wouldn't change with your scenario (although I, too, would be interested in knowing the formula for the trade-off).
Thanks mucho,
Holdenout4les
Forgot to mention that the FX35 is RWD. Thanks.
One final question here...are the Honda dealerships getting the $1000 Honda to dealer cash on leases or is it just on outright sales? Thanks again for all of the help here...it certainly helps at the dealership and the wallet!
I wanted to seek your help and find more info (MF & Residual) for the following:
2005 Audi S4 (Not 2005.5)
MSRP: $51,520
Purchase: $45,361
36mos and 15k miles/year
A prior message listed a base MF = .00065, Residual = 54%, but that was back in March. This purchase price is the dealer's advertised internet special. Do you know the current MF, residual, and any further lease incentives? Edmunds shows a $2500 Manufacturer to Dealer incentive on this car. I do not plan any cap. cost reductions other than the usual (1st mo., tax, title, license, etc...). Thanks in advance.
Also, is it true that Infinity will use tax credits to lower the cap cost (assuming, I suppose, that tax, title and license fees were to be included)?
Finally, would you rather pay more per month with an independent leasing company to get the flexibility and other perks these companies sell or pay less with a manufacturer that is perhaps inflating its residual value for a car to lower lease payments and move cars off dealership lots? I guess the question is just how much more you might be willing to pay each month to go with an independent leasing company? Or is it your opinion that one or the other is better, or no different at all?
Very much appreciate your assistance!
Thanks in advance!
With regards to the 1.5% markup.... Yes, that is a fact. All 3-Series that go into production after 7/20 (already passed... whoops!) will have an, on average, 1.5% markup. (I say "on average" because the less expensive models will be a higher relative percentage while the more expensive models will add a lower relative percentage... but it averages out to about 1.5%.) Since the Germans shut down their factories for "holiday" in August, if it hasn't started production yet, then it'll definitely not get to the USA until, at best, September when the new pricing goes into effect.
Hope this helps.
They are still delivering the car to your dealer, when you are done with it, right?
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Thanks for the info. I just called SAAB directly and it was right. They broke the cost down for me (1283 auto + 130 handling fee + 720 destination fee + 27403 GM price) = $29,536. As for the lease cash of $3500 that is said in the forum, they never heard of it. However, they did say there is a $2000 dealer to customer cash incentive. So which one did you get or how much did your dealer give you?
Carman,
Have you heard of the $2000 dealer to customer cash incentive? if so, did the $3500 cash on leases expire? or is one offered through SAAB the manufacturer and the other through SAAB Financial? because it would be great if one can get both. Also based on your earlier postings on the 9-3 ARC for 3yr/36K the MF is .00155 and RV is 49%. What would it be if it's a 3yr/30K? I am trying to figure the monthly with zero down. Thanks for the help.
thanks for responding..the msrp of the RX$42,733.00..i don't know the seling price because i haven't gone to the dealer yet..just trying to get a few ideas.. I do know that if you were buy the car, you could pay around 39,000 for it here...so maybe the selling price would be about the same??
thanks in advance!
It is all academic.. You pay destination, no matter where you get the car..
regards,
kyfdx
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Does the money factor of .00073 apply only if you put down a security deposit?(.00083 w/o) If you have leased with AHFC before do they cut you a break? Also what is the residual and mF for an 05 Z4 2.5 and 3.0? 36 month, 10K per yr. Thanks.
do you have the lease programs for the 2006 audi a8?
Automatic
Metallic Gray color
Select Package
Climate Package
Sport Package
MSRP $29,500
The deal I got was $289/month + tax. $0 down (with Volvo Lease Loyalty)
Can someone please tell me what they think of this deal? Am I getting ripped off?
Thanks for your help last month I got a great deal on my Jetta 2.5. My son is intrested in leasing a Vw GTI 1.8T for 36 months and 45,000 miles could you please let me know the lease factor and residual for that lease. Thanks for all of your help it really keeps the consumer on top of dishonest sales people.