Lease Questions - Ask Here

CarMan@Edmunds · August 2005

Here is the information that you are looking for phdb7. If your daughter was to lease a 2005 Acura TSX without navigation through American Honda Finance Corp. right now for 48 months with 15,000 miles per year, its base lease money factor and residual value should be around .00240 and 48%, respectively. If she needs to drive more than this, she will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it would be to wait until lease-end and have to pay an excess mileage penalty. If you want me to work up a sample lease payment on this car for you, I need you to provide me with its full MSRP (with the destination charge added in) and selling price.

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CarMan@Edmunds · August 2005

No problem Josh. If you were to lease a 2005 Acura TSX without navigation 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 around .00240 and 57%, respectively. Some cars that have attractive lease programs on them right now include the '06 Volvo S60, Honda Accord, Honda Civic, Nissan Altima, Jaguar S-Type, Lexus ES 330, Lexus IS 300, and Saab 9-3 / 9-5 to name a few random sedans.

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CarMan@Edmunds · August 2005

Hi Jeepman4. Normally the only way to avoid paying an excess mileage penalty at lease-end if you have exceeded your vehicle's mileage allowance is to purchase it. However, If your wife's Acura TL was in an accident you may not want to buy it. I wouldn't. You can always see if you can find a dealer that is willing to give you more for your TL as a trade than it will cost you to buy it from AHFC, or whichever bank your lease is through. In order to find out whether this is possible, place a call to the bank and find out what your car's lease-end purchase price is. This price is occasionally negotiable, so see if they would be willing to lower their first price quote. If your initial contact at the bank is unwilling to work with you, you may have better luck if you work your way up the ladder to a manager. When you speak with them make sure to give the impression that you are right around your mileage limit. If they think that you are over, you will be in a much weaker bargaining position. Unfortunately, the fact that you plan on leasing another Acura after this one will not give you the ability to have all or part of your current car's excess mileage fee waived.

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CarMan@Edmunds · August 2005

Djocks, the X5 4.4's lease program is a little different than the 3.0 model's. If you were to lease a 2005 BMW X5 4.4 through BMW FS right now for 36 or 39 months with 12,000 miles per year, its base lease money factor and residual value should be .00075 and 61%.

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CarMan@Edmunds · August 2005

Don't worry about it. I am feeling much better thank you and thanks for taking the time to stop back and say thanks.

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CarMan@Edmunds · August 2005

According to the latest information that I have seen, joe222, if you were to lease a 2005 Subaru Legacy GT Wagon through its captive finance company right now for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00100 and 44%, respectively. The numbers for an otherwise identical 4 year lease should be .00090 and 36%. If you were to go with 12,000 miles per year, this car's residual values would be 1% higher for the 3 year term and 2% higher for the 4 year term. When negotiating your lease on this car, keep in mind that Subaru is providing $500 lease cash on it this month. This money will help you to negotiate an attractive capitalized cost.

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CarMan@Edmunds · August 2005

Greetings paotron. I should be able to give you an idea of what the current lease program is like on the vehicle that you are interested in. In order for me to do so, I need you to tell me exactly which model you want (be as detailed as possible, how long you want to lease it for, how many miles per year you need to be able to drive it, and what state you are in.

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CarMan@Edmunds · August 2005

Hello flycaster. Over the past several months, there has not been any difference between BMW Financial Services 2 and 3 year special lease programs for the 2005 BMW Z4. However, this month BMW cut its 2 year lease money factor for this car in half, making this by far the most attractive term to lease one for. If you were to lease a 2005 BMW Z4 2.5 or 3.0 (the program is the same) through BMW FS right now for 2 years with 15,000 miles per, its base lease money factor and residual value should be .00100 and 63%, respectively. The numbers for an otherwise identical 3 year lease of these cars should be .00200 and 56%.

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djocks · August 2005

Car Man,
I am mostly interested in the X5's (3.0 and 4.4) 525 and 530i's. I would be getting a 15K year and 36 or 39 month lease, whichever is better. I am actually going to do 2 cars. My wife needs a new SUV and I need a sedan. Does doing 2 cars at once put us at more of a position of negotiation? I would love to save as much as possible. I also, do not need to stay with BMW, I can go elsewhere, but for now I would like to stay with them because their service is too good!
djocks
thanks for the help

djocks · August 2005

one last question,

I am returning my 03 330i to BMW. No over miles and the car is in good shape. I have heard about charges for tires and any nicks. I do have a small rock mark in the windshield that I have not had fixed. If I stay with BMW can I negotiate all of these to be waived? Thanks again,

Djocks

liandyk · August 2005

sorry,
I'm interested in a 4runner to be lased in NY state for 36 month @15,000 miles.
I was told the lease specials were only on the V8. I would rather have the V6 egine.
Please give me the rates on the V6 4Runner.
Also if you could get me the rates on the Highlander V6 engine for the same.
Thanks

bdr127 · August 2005

Doc fee of $45
Is the doc prep fee standard and, if so, is it a reasonable amount?

That doc fee is a fee charged by the dealership to do all titling work with the state, processing, etc.... And that amount is amazingly low! Most dealers charge between $300 and $500.

adgridley · August 2005

Car_man -

Thanks so much for the quick reply. Exactly what I needed. We've expanded the search a bit, so one more request!

Could I get MF & Residuals on the 2005 and 2006 V50 AWD T5, for 36 and 48 month leases (or 39 if there is support there), 12,000 miles per year?

Thanks in advance - Best, Adam

mvs1 · August 2005

Just a quick FYI about windshield nicks, not sure if you have a glass doctor in your area (Tri-state they've combined with jiffy lube I think). They offer a crack/hole/spider filling service. If you pay out of pocket it'll run you between $40-$70, or your insurance co. would be glad to cover this under the "free glass" most people have included as opposed to the cost of replacing a windshield.

geckofrog · August 2005

Car_man, Im thinking about getting a lease deal with Audi. I have never leased before and would like some help. I heard that you really don't need to put anything down for a lease, since if you wrecked that car right after you left their lot, you would lose that money.

A4 2.0 CVT $28,550
Premium Pkg $2,100
"17" wheels" $500
Destination $720

Total $31870

Im in the DFW area, what is a good lease payment for the options I have listed?

flycaster · August 2005

Thanks. CM. The 2 year program certainly is a better deal that the 3 year program, but what happens when one factors in the costs of leasing again after only two years? On a newly leased car two years from now, again I'd have to pay taxes (6% in FL), tag and registration fees, dealer fee, bank acquisition fee, etc...all of which add up to about $3-4K. So, how does one go about looking at these added expense vs the savings on the 2 year lease? Thanks again.

ms2kj · August 2005

Car_man,

I'm in the process of finding a new car and the G35 sedan is on my short list. I've leased cars before but not in a while.

Here is the price quotes that I'm getting.

2005 G35 Sedan w/ Premium Pkg B, Navigation, Sport Tuned Suspension Pkg, Aero Pkg - $34,622
Destination - $620
Processing Fee - $295
Tax, Tags & Title - $1286.11

Total OTD: $36,823.11

I'm in VA and my FICO score is above 730. What do you think will be my approx. lease payment and what sort of money factor should I be expecting to see from the dealer? Please keep in mind that I won't be putting any money down.

Also, you think I can get a better price? Thank you.

Mike

joe222 · August 2005

Thanks Car_Man!!! CarsDirect is quoting a '05 GT wagon for 24,500ish--almost 4k off MSRP(for my area)! If I can get anywhere close to that on my own coupled w/ their lease prog., sounds like I'll be set!

Thanks again!

sponge_worthy · August 2005

Thanks for your response Car_man. I realize this is purely philosophy, but as long as Manufacturers are trying to push leases (which they clearly are, some more than others, in particular BMW), I think they should make Lease Numbers as widely available information as MSRPs and Invoice.

I agree dealers should make a profit, but I don't believe the manufacturers should be encouraging dealers to make their profits in dishonest manner, which misrepresenting the base lease numbers clearly is (again no different than misrepresenting the MSRP). Particularly for higher end cars, letting their dealers get away with sleazy tactics ends up relfecting badly on brand reputation which frankly for some manufacturers is their biggest asset.

bdr127 · August 2005

Lease money factors are the financing equivalent to interest rates. A dealership's buy rate on an interest rate is not "common knowledge." Sure, you can find the "going interest rate" online, but you still don't know what the dealer is buying that financing for and what they are making just in financing..... Note, too, that financing has been going on for a lot longer than leasing. Why no public outcry in the same way for interest rates?

sponge_worthy · August 2005

The point was that when manufacturers run a particular incentive with a base MF, then the dealer goes ands marks up the base MFand represents it as the base - this is the equivalent of marking up the MSRP and misrepresenting it. Thats all I'm saying.

In the case of financing - there are lots of options and lots rates - if you don't like the finance number the dealer offers, the you can look elsewhere, on a lease incentive there are not.

The manufactures, by allowing the dealers to do this (misrepresent the incentive base numbers), are providing dealers leverage which encourages dishonest practice - something high-end manufatures try to discourage (i.e BMW NAs emphasis on its Customer Service Survey after one closes a deal - dealers are scared to death of getting bad marks on these) - as use of sleazy sales tactics DOES reflect badly on the brand.

You don't by chance sell cars for a living?

steve777 · August 2005

Car Man, could you tell me what the lease payment would be for an Infiniti M35x with a $43,410 MSRP and a selling price of $40,235 for 36 mont term.

I do not know what the residual or Money Factor is this month. Thaks much.

andi4 · August 2005

Hi Car Man,
I just joined this message board and was hoping you could guide me in leasing a Volkswagen. I am interested in the new Volkswagen Jetta package one, which is one up from the base car. I was told I would have about a $2900 down payment and pay approx $199/month for a 36 month lease in Alabama. I just finished a lease through VW Credit,so I should also get a $500 discount(loyalty bonus)...not sure if that was factored in. My parents live in Alabama, but I will be living in Indiana. In which state should I lease my car, and what should I know about these numbers? This sounds like a good deal, but I know nothing about this...my dad helped me lease my last Jetta. I am on my own this time

I hope you can help guide me through this process. Thanks very much Car Man!

Andi4

jkenik · August 2005

I would be a returning VW customer and was wondering if I'll be able to get a better deal than the lease specials advertised at vw.com. ($2k down and $399/m) I really wanted an Xterra, but was unable to get a lease for under 500/month. I never thought I'd be able to afford a Touareg, but saw the deals and think it may be possible.
Thanks in advance for any advice, etc!!
ps I got screwed on my last lease (2003 Jetta GLX for $455/m!)

skobola · August 2005

CarMan, can you provide me with new 2 and 3 year lease MFs and residuals for the 06 BMW 325/330. Also, do you know anyone else in addition to BMW FS who would offer a less costly leases for the 3-series. Thanks.

junobear · August 2005

Sort of related: I'm looking to get the 2005 Pilot EX-L RES. Am negotiating purchase price now, but wish to lease for 3 years, 12K miles a year. (or 15K, which seems to be the same price according to lease calculator). Are the lease MF and residual values similar on the EX-L? And does it matter if I get the RES or NAV or neither, and just add an after market DVD.? Thanks so much!

banhbao · August 2005

Hi Carman, I'm thinking to lease the S200 for 36/45k but I dont know if I can keep the mileage witn 45k or not. So if after a year or so, if i think i can't do 15k miles a year, then can I buy the S2000 by that time. How is that compared with purchasing the car right now. I can get the S2000 for $29,300 from my dealer. Can you provide some formular to calculate the amount I have to pay if I decide to buy the vehicle before the lease is up? From calculation, my lease is $12,278 for 3 years, residual is $18810. So if I wanna buy the car before the lease, is it = $12,278 + $ 18810 + tax on $18810 + tax license ? Thanks

pingpng50 · August 2005

i live in maryland, and we have excellent ice cream and gelatto here. I plan to either lease it for 48 months, and drive it 15k miles a year, or buy it with dealer financing. i have excellent credit. thanks very much. you have been wonderful

robc21 · August 2005

Hi Carman,

Does this sound like a good deal?

05 Touareg V6
Package #3
$36,500 Cap Cost
$21,623 Residual
.00019 money factor
$1747 down
$410/month pls tax
36mo 12K miles

Need to act soon any comments would be greatly appreciated.

Thanks in advance,
Rob

jasonhersh · August 2005

Update to my earlier message, per your request car_man, here are my prices:

Acura MDX:
"Purchase price" of $32,600, base.

Switched from Envoy XL to Trailblazer EXT:
"Purchase price" of $26,234

Honda Pilot EX-L:
"Purchase price" of $28,000

Hope this helps

babydoc · August 2005

Hi carman,
Looking for a 2005 Volvo S80. Got one with MSRP of around 43500. The dealer is using MSRP as the cap cost. The payments come out to be 525 per month, 39 months, 11k per year without taxes added in. No money down. There will be a disp. fee at the end of the lease.
This is my first time leasing. Seems like the MSRP should not be the same as the cap cost on a car that's not selling so wonderfully. Do you know the residuals and money factors for the S80's?
Thanks for any help.

junobear · August 2005

Wow. What state are you in? (other than Joy.) Where did this happen? And did you get this deal financed thru AHFC or the dealer or what? Congrats!

tremere · August 2005

Hi Car Man,

I need some advice. I got suckered into a 2002 VW GTI 1.8T with a lease and balloon payment of $12,500 in 2001. The lease is ending soon and the residual value is currently at $12,300 with one more payment to be made (I paid a slightly few dollars when making payments). Current mileage is at 44,500 miles, and the residual will be below $12,000 after the final payment (prior to balloon payment). The problem is that the car has some hail damage. I got a quote of $1,500 for the repair, which my insurance will not cover because I didn't report it within a specified time window. Also, the tires will need to be replaced, so tack on an additional $400.

Would it be possible to be able to return the vehicle and lease a newer vehicle? If yes, what kind of a run-up of costs am I looking at? Am I just better/cheaper off buying the GTI via an auto loan from say eloan.com and learn my lessons?

I was thinking about stepping up to the Audi A4 2.0T quattro with the current special offer for payments of $359 for 24 months and $3,308 due at signing. If I buy the GTI, I am looking at 36 payments of around $370 with my current credit rating. The payments would total $13,320 whereas the Audi payments would total $11,924 (incl down payment). If the damage and tire wear is added in, with interest, the Audi total would be slightly higher. Is it worth it? I think so, but is it possible?

Sorry to make this unnecessarily long, but I'm trying to paint as much of the picture as I can. Let me know if you need more info. I'd appreciate your help.

birdbird · August 2005

Hi Car_man,

Acura is currently offering a "standard lease" for 2005 RLs from Honda Finance at the Acura web site. I think it's 599.00 per month and about 3600.00 down. Does that mean that if you want to lease an RL using Honda Finance that you must use that program and pay that amount? Or, do they allow dealers to finance for less than their standard lease program offer and still finance through Honda Finance?

paotron · August 2005

I am in CA. interested in the Lincoln Navigator Ultimate 2x4 with a MSRP of $60,150. With 15,000 miles per year.
Is there any big difference with a 36 month or 39 month lease?

jwilliams2 · August 2005

Yes, the 36 month lease lets you turn it in three months earlier.

danielentellen · August 2005

Dear Car Man:What do you think that a monthly payment should be given: MSRP is $35.619.00 Lease factor=.0018 Residual Value= 54% Mileage= 18000/year. Residual Value= 18334.26 The dealership thinks that I should be paying $565.00/month. Do you think that is appropriate. What are others paying for on a lease on this type of car? Thank you for your help.

jason_jm2005 · August 2005

Keep reading that lexus is offering some sort of program for 2006 GS 300 leases, I cant find anything?

Can anyone tell me what it is? what the residuals and MF on this car should be for 3yr/36k and 4yr/48k?

thanks

bdr127 · August 2005

Definitely need some more info... Is that residual of 54% for the full 18k/yr or is that the base residual? What is the actual purchase price of the car? What is your tax rate? How much money due at signing? Based on what you wrote above, if you take the purchase price at MSRP and just use the $18334.36 LEV with the .0018 MF and not factoring in anything else required (like acquisition fees, taxes, tags, etc) and NO money down... according to my calculations that's about $577/mo. Once you have all the numbers, it's easy to calculate the lease payment... But in order to get an accurate quote, you'll need to give us some more of that necessary info.

cyclone4evr · August 2005

Junobear,

Got the lease at Gary Smith Honda in Ft Walton Beach, Florida. Worked it through the Internet Sales contact on their website. Did the details via e-mail and simply went in, went over the Pilot, and signed the paperwork. All very smooth, paperwork did take some time, but it was the last day of the month and the place was packed. Lease was through AHFC. Good dealership, no push for other products, etc.

jerseyguy2 · August 2005

hey car man, what's the best i can do on leasing a 2005 Honda Accord LX AT Sedan for 36 mos. at 12,000 mi/yr w/ a msrp of $21,090 and a selling price of $17,568 w/ 0 down? what would the money factor and residual value be? thanks. jerseyguy2

jason_jm2005 · August 2005

im showing $292 per month

danielentellen · August 2005

The residual is 54% for 18000 miles per year. We are paying a premium of $900 for an extra 9000 miles on the life of the lease. The actual purchase price is $33,936.00 with all the fees. ( It's $32791.00 + $600.00Acquisition fees + $500.00 Admin/Doc fees.) No money due at signing. Do you think that these fees are reasonable? Thank you so much for your help!

fin1581 · August 2005

I am looking to lease a 2005 Titan King Cab 4x4 w/ SE Popular, Off-Road, and Big Tow packages. MSRP= $31570 plus $650 acq. fee, $500 security, and taxes. I plan on rolling the acq. fee, sec. and taxes into my payments and don't want to put anything down. I was wondering what the money factor and residual value should be on a 3yr./36k lease in upstate NY? Also, what would my monthly payments be at?

Thanks,
Fin

racingjay · August 2005

Car_Man - I think I got lost in the shuffle. Need your expertise again....

As you know, I am looking to get into a new 05 Grand Cherokee Laredo 4x2 at the end of the month. With the rebates and incentives, this is a good time for me to look to lease out of my negative equity.

Here's the deal. About $6,500 negative in my Trailblazer. I can purchase a new 05 Cherokee for $20,200, and still be in under the MSRP of $27,050. Can you provide leasing info for a 36 and 42 month lease through Chrysler.

Thanks,
Racingja

koberry · August 2005

Hi Car_Man:

Thanks for your help back in December, I love my Lexus RX330 and got a great deal with your help.

My wife's 2000 Volvo S80 is out of warranty and nearing money pit status. We've got a relatively long "short list", can you help with residuals and money factors for a 12k mi/year, 36 mo lease for the following vehicles. Incidentally, we won't purchase a Nav package if one is offered for any vehicle, especially since it often seems to affect the residual... I'll lease a 2006 unless there's substantial lease support on a 2005:

Lexus RX330 - AWD
Lexus ES330
Mercedes E320
Volvo XC90 AWD T6
BMW 525

Thanks in advance.

Ken

jasonhersh · August 2005

Was this for an EX or EX-L...thanks

newleasee · August 2005

I'm a new (potential) leasee and need some advice. I'm interested in getting a Lexus GX 470 for a three or four year lease. I drive very little so I'm thinking about going for the 12,000 mile option. Options I'm interested in: nav system, third seat.
I have a good credit rating. How do I figure out if I'm getting a decent deal or not? Also, is it better or worse to get options when you lease?

Thanks, sheryl

ruthie1 · August 2005

Friday I called a NYC Acura dealer and he quoted me with navigation $390 per month for 15,000 miles on a 32 month lease with $1700. down including tax, etc, first month, everything. I called back and had him check again. He promised me it was right. I made an appointment for 1pm Saturday. Saturday he had me wait an hour, then when it was time to close I was told he made a mistake and it was really $521. a month, they guy was new. Is this bait and switch?

What is the best price i can get to lease a 2005 Acura with 12,000 miles with navigation- for 32 months or 42 months in the NYC, Long Island or New Jersey area not more than 30 miles outside of NYC? Is it more cost effective to lease a car every 3 or 4 years. It seems like 4 years would be less expensive. Can you explain to me how it works please?

rroyce10 · August 2005

...... I had to read this twice just to make sure I read it right .....

**I got suckered into a 2002 VW GTI 1.8T with a lease and balloon payment of $12,500 in 2001** ....

**car has some hail damage. I got a quote of $1,500 for the repaint .. >>> which my insurance will not cover because I didn't report it within a specified time window. Also, the tires will need to be replaced, so tack on an additional $400** ...

Sounds like you leased a vehicle and ran-up $2,000 in damages .. sounds like a $9,000 vehicle, maybe ... I would just pay the damage's at the lease end and go on ........

Terry.

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