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Comments

  • arrosenarrosen Member Posts: 22
    For the numbers you mentioned (MSRP=27050, CAP=20800, MF=.00185 and 50%resid) and assuming a 36 month lease, the numbers come out to $265.58/mo before tax, title and license. Ask them to show you the details. If they won't, go elsewhere.
  • karbuyerkarbuyer Member Posts: 1
    Car_man,

    I hope you can help me. I'd like to lease a 4Runner - not sure as to SR5 or Limited yet - but was wondering whether you can help me with the money factor and residual values currently offered in my region (Atlanta, GA). Thanks a lot for your help.

    karbuyer :confuse:
  • scriderscrider Member Posts: 7
    I have been reading many of the recent messages and I am looking to fill in some of the details about what I should expect for an M35x lease. The dealer is working on some numbers but I already know that they are encouraging a 39 month term with 59% RV on 15K miles and 60% RV on 12K miles. I am looking for the money factor that I should expect and any other recommendations on how to get the best deal on this transaction. I have read about the Infiniti acquisition fee (which sounds a fee to cover commission on the lease) of $550. Is there anything else I should look out for?

    I am surprised by the recent posts on the G35. Looks like a nice high RV and a low money factor - I figured that the M35x would have even better terms.
  • jpyjpy Member Posts: 9
    I was wondering what you thought of the deal I am in the process of negotiating right now.

    2006 330i - With Sport and Premium packages, Navigation, Power shades and phone cradle

    MSRP - $44,145
    My Price - $41,840
    15K miles for 36 months
    MF = 2.50
    Residual of 60%
    Payment of $595.92
    Gap is included

    $1681 cash at signing for 1st months payment ($640.61), Cailfornia License ($300), Doc Fee ($45) and acquistion fee $695

    Thanks for your insight
  • djocksdjocks Member Posts: 124
    Just wondering if you are driving the car home in september?, i am considering a 330i to replace my 03 330i but i might order it to try to take advantage of better leasing rates when and if they come...

    awesome set-up btw. they are the best cars in the world
  • flycasterflycaster Member Posts: 62
    I'm no expert, but I think that you can do quite better. First, there is a dealer incentive of $4500 on the 3.0. Dealer doesn't have to give it all to you, but if I were you, I'd bagain from the invoice minus the $4500, and see where that gets you. Also, I think the base MF may or may not be less than 2.5. But, once again the dealer can charge more than the base MF. The acquisition fee is correct! Remember, that when you lease a car, your base monthly payments are directly proportional to your capitalization cost (the price you are paying for the car) and the MF. These are negotiable and you should try real hard to get them as low as you can. Good luck.
  • birdbirdbirdbird Member Posts: 63
    I was trying to negotiate a good deal on an Acura RL but the dealer didn't come close to any of the numbers I was seeing posted on the Edmonds forum, so I have decided to wait. I am told by the dealer that 06's won't be in until late October or even into November, that Acura may be different in that regard! So I'm think this was the wrong time to have approached them.

    Can you say, in general, what month would be the best to look at several different cars you are interested in for best leasing prices? In particular what month or time of year are "special leases" that are "real" savings offered. And another questions, when you see lease incentives listed at edmunds.com, is that "generally speaking" the bottom line you can expect to get on a lease? I ask this because why wouldn't an advertised manufacturer to customer lease offer be the lowest possible?
  • djocksdjocks Member Posts: 124
    Flycaster,

    Are you sure about the 4500 incentive? That is the first I have heard of a program like that. I hope you are right though because that would make the 330i a lot more attractive. I am pretty sure the mf on the 330i is .0025. But let me know about the incentive.

    Thanks,
    djocks
  • jpyjpy Member Posts: 9
    Wow...$4500. I have sent out requests to over 20 dealers in the Southern California area, the lowest price quoted to me was the $41,840. When I try to move it lower every dealer said no can't beat that price. Are you sure that is in Calif?
  • jpyjpy Member Posts: 9
    I told them 2 weeks, so yes I guess it would be in Sept.
  • djocksdjocks Member Posts: 124
    Assuming that it is after labor day, you should qualify for the september leasing rates. I would do some homework and find out if there is a change in the residuals, mf's or both. You might benefit....
  • djocksdjocks Member Posts: 124
    All this 330i talk got me wondering. Could you please calculate this and let me know what you come to with 0 down?

    2006 BMW 330i ($37,295)
    Jet Balck (0)
    Tan Letherette (0)
    Idrive/Nav ($2000)
    SAT Siri Radio ($595)
    BMW Assist ($750)
    Rear and Side Sunshade ($575)
    Total ($42215)

    Selling Price $39500

    This was one quote I received as an out the door price, I was wondering if his monthly was right... Thanks, djocks
  • BushwackBushwack Member Posts: 258
    Birdbird,

    FWIW here in L.A. I was quoted $43,000 by dealer #1 for a 2005 RL a few days ago. To make a long story short, yesterday I went to three other dealers and counted 96 RLs (collectively) on the lots. This morning I e-mailed the three dealers for a quote. Two came back at $42,100 and $42,750 (includes destination - 59% residual and a MF of .00235 for 36 months (maybe Car Man can confirm the MF and residual for 36 months).

    BTW, I read a press release somewhere stating 2006 RLs hit the showroom on October 17.
  • fsufanfsufan Member Posts: 35
    CarMan, VW is advertising leases on the new 2006 Passat 2.0T auto trans. pkg #1. MSRP: $27,215 36 month 12,000 miles per year.$1250 down payment, dealer contribution of $476.30.
    Purchase option at lease end for $16,056.85 I can quickly figure that the residual is 59%.
    What is the money factor? Is the dealer contribution a subsidy from the manufacturer, since its a national program, or is each individual dealer just eating into their profit. I understand in some areas of the country the car is hot, while in others its selling close to invoice. Is there any other lease cash available?

    Assume a sale price of $26,000 with no money down, 6% NJ sales tax, what should the monthly payment be? Thanks.
  • erdrickerdrick Member Posts: 2
    Carman,

    I'm working with a local Infiniti dealer to lease an Infiniti G35x Sedan with the premium package, nav for 36 months, 15,000 miles.

    They gave me these numbers:

    MSRP: 38,980
    Sales Price: 35,200
    Money Factor: .0013
    Residual: 22608 @ 58%
    Acquisition Fee: 595
    Taxes $2464 @ 7.0%

    What I don't understand is that they originally quoted me a $611 lease payment based on these numbers. When I calculate the lease payment it comes out ot be closer to $513 a month. Am I not understanding something or are they trying to pull one over on me? What would a reasonable lease price for this car be based on this sales price.

    Thanks,

    Erdrick
  • angelmangelm Member Posts: 5
    thanks carman
  • tommy2600tommy2600 Member Posts: 1
    Carman,

    I am interested in the Mazda6i Hatchback 5 door (automatic) lease program. I am in NJ, can you please give me the residual and money factor for a 3yr 36K mile lease.

    It looks like this car has a 4yr, 50K miles warranty, the OEM tires seem to only last 20-30K miles... so I am considering a 4 year lease also, figuring I will need to replace the tires and brakes once. What are your thoughts on this.

    If not this car, I would probably go for an Accord LX.

    Thanks in advance... Tommy2600
  • flycasterflycaster Member Posts: 62
    You know I think you are right about there not being a $4500 incentive. My mistake. I've been looking at the BMW Z4's and THEY do have that dealer incentive. I guess I got confused. Sorry about that.
  • ej1111ej1111 Member Posts: 48
    Do you have the residual and money factor on the 2006 jetta gti and 2.5t and the 2006 passat 2.0(not the value edition) for a 36/12k miles lease? Thanks!!

    -h
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi solaraman2003. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your current lease by comparing its 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 waiting until you are closer to the scheduled end of your lease to get another new vehicle. If you decide that you still want out of your current lease, you will not get any better deal by going back to the dealer that you got this car from. Furthermore, I doubt that signing another lease through Chase will have an impact upon your current car's price.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome dubenez. The selling prices of leased vehicles are negotiable. It is probably possible to lease the Accord that you are interested in for less than Honda's advertised lease payment on it because manufacturers' advertised leases usually leave a little meat on the bone so to speak. If automakers advertised deals with extremely low profits in them, dealers would get angry. You will likely be able to negotiate a lower price on your car than the one that was used to calculate the payment in the add.

    Using the prices that you mentioned in your post, an MSRP of $21,090 and a selling price of $18,519, if you were to lease a 2005 Honda Accord LX 4-cylinder sedan through AHFC right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $217. A $2,000 capitalized cost reduction would reduce this car's monthly payment to around $160, but I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Accord would be exactly the same, regardless of whether you had put $2,000 down, or had made absolutely no down payment at all.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi birdbird. I am sure that you would be able to add a dealer installed spoiler to a leased Acura RL if you wanted to. However, I am not sure if American Honda finance Corp. will allow you to residualize the spoiler or if you would have to just take its total cost, divide it by the number of months in your lease, and then add the result to your monthly payment. Either way, you should be able to bake the cost of any accessories that you want into your car's lease payment.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome Bushwack. AHFC's 48 month, 15,000 miles per year residual value for a lease of a 2005 RL is currently only 47%. Its 12,000 miles per year residual for this term is 49%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings sphere99. Here is the information that you are looking for. If you were to lease a 2005 Infiniti FX35 RWD Touring through Infiniti Financial Services right now for 36 months with 15,000 miles per year, its base lease money factor and residual value should be .00159 and 59%, respectively. The numbers for an otherwise identical 39 month lease should be .00153 and 58%. I'd be happy to work up a sample lease payment on this truck for you, but in order for me to do so I need you to provide me with its full MSRP (with the destination charge added in).

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  • shonuffshonuff Member Posts: 4
    Carman,

    I am looking for money factor and residual for the following vehicles:

    2005 Toyota 4Runner Sport V8 4X4
    2005 Toyota 4Runner SR5 V8 4X4 (if different)
    2005 Jeep Grand Cherokee Laredo 4.7 V8 4X4
    2005 Jeep Grand Cherokee Limited 4.7 V8 4X4 (if different)

    Term of 36 months and 15K miles/year. Ohio Region.

    Also, can the $1500 rebate on the 4Runner be used with the base money factor?

    Thanks in advance for the reply!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tim62. If you leased your truck through Land Rover's captive finance company, you should be able to turn it in at any Land Rover dealer in the continental U.S. Even though you are turning your truck in at a Land Rover dealer, you do not have to purchase or lease another vehicle from them. You are free to lease whatever model you want for your next vehicle.

    As far as the leas-end process goes, approximately 90 days before your lease is scheduled to end, Land Rover Capital Group will send a Pre-Termination letter. The letter provides a step-by-step outline of what to expect at lease end. When you turn in your truck to a Land Rover dealer, they will inspect it for any excess wear and tear or excess mileage. The following is a link to the lease-end section of Land Rover Capital Group's web site: Land Rover Lease End Process.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for breaking out the prices for me, t_o_n_y. It is very helpful to see exactly how they break out. According to my calculations, if you were to lease a 2005 Chrysler Pacifica Base 2WD with an MSRP of $25,345 and a selling price of $20,697 through Chrysler Financial right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $259.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi crandleman. You should be able to get the Jeep Grand Cherokee that you are interested in for DaimlerChrysler's Employee Purchase price this month. This amounts to an attractive price without the need to haggle (though some consumers have reported that they were able to get dealers to sell this truck for less than the employee price. As far as the Honda Civic goes, given the $400 dealer cash that is available on '05 Civic sedans right now you should be able to get this car for right around dealer invoice.

    Let's work up a couple of sample lease payment for you based upon the prices that you have been quoted so far. According to my calculations, if you were to lease a 2005 Jeep Grand Cherokee Laredo 4WD with an MSRP of $27,050 and a selling price of $22,368 through Chrysler Financial right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $300. I used a money factor of .00188 and a residual value of 52% to arrive at this payment.

    According to my calculations, if you were to lease a 2005 Honda Civic Value Package sedan with an MSRP of $15,460 and a selling price of $14,500 through American Honda Finance Corp. right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $192. With a waived security deposit, which is what the money factor that you were quoted is for, this car's payment increases to around $194 per month before tax.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Abarda, Toyota financial Services' residual values are the same for all 2005 Tundra Double Cab 4WD models, so the number for the Limited model would be the same as the one that I provided you with earlier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Carnag. Let's crunch some numbers and see what we come up with. According to my calculations, if you were to lease a 2005 Infiniti G35 2wd sedan with an MSRP of $34,710 and a selling price of $31,800 through Infiniti Financial Services right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $388. The selling price that you were quoted for this car looks reasonable to me, but you may want to stop by the following discussion to see how much other community members have paid for similar models lately: "Infiniti G35: Prices Paid & Buying Experience".

    Using the selling price that you mentioned in your post and not including sales tax or any sort of down payment, at 3.99% for 60 months I estimate that this car would have a finance payment of around $585.50.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings nick24. I am sorry to say that as the dealer that you spoke with said, it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your current lease by comparing its 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 waiting until you are closer to the scheduled end of your lease to get another new vehicle.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem uconnhusky. I don't believe that Infiniti Financial Services will waive its security deposit requirement just because you have a good credit score. You either have to pay the deposit, or have your vehicle's lease money factor increased in exchange for its waiver.

    Infiniti Financial Services' base lease money factor and residual value for a 36 month, 12,000 miles per year lease of a 2005 G35 Sedan AWD should currently be .00113 and 59%, respectively (this assumes that you are paying a security deposit and acquisition fee). Using these numbers, an MSRP of $38,910, and a selling price of $36,098 ($500 over invoice), I estimate that this car will have a zero down, pre-tax monthly payment of around $432.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi samsone. Of the vehicles that you mentioned, the Subaru Impreza and the Saab 9-2X probably have the best lease programs right now. You can strike the Saab off of your list though because dealers don't have any. Saab dealers were having a terrible time selling this car, so GM cut production on it. When it introduced its Employee Purchase program, the 9-2X because such a great value that they were flying off of dealer lots. Now there are none to be had. You may also want to consider the Nissan Murano or Xterra. If you let me know the exact trim levels of the vehicles that you are interested in and how many miles per year you need to be able to drive them, I can give you an idea of what their current lease programs are like.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi imacamdoc. Vehicles' residual values gradually fall as the model year progresses. The lower a model's residual values are, the more expensive it is to lease. On models that have lease support available on them, like the Nissan Murano, automakers lower their lease money factors to make up for the lower residual values. It is difficult to say whether it will be less expensive to lease a 2005 Murano right now or a 2006 model when it is introduced because the '06's lease program has not been published yet. Which model is the better deal will depend upon what the 2006 model's residual values and lease money factors are like.

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  • birdbirdbirdbird Member Posts: 63
    Yes, I understand what you're saying that there are a lot of 2005 Acura RL on the lots that they will need to sell. But it has occurred to me that this is only August and maybe I started looking too soon! Won't the reallly good lease deals come in late October when you mentioned the 06's may be showing up?

    Nearly four years ago I leased mid-November and the manufacter had a really good deal going -- better than anything up to that point.

    I wanted to ask Car_man his opinion also: Don't you normally get a better lease deal in October or November from Acura since they seem to wait until about then to send the new year model out to dealers. Seems like until then, they may be holding up on good lease deals, at least in our area. I wonder if the don't need to keep a certain number of RLs on their lot for those who want to buy them. Maybe just too early to expect the kind of lease deal that may be possible later when the manufacturer needs to lease or sell all the remaining 05 stock!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello smetzler. You are correct that you only pay for the portion of the vehicle that you use during your lease. This makes up the depreciation portion of your vehicle's lease payment. However, consumers who lease are also required to pay interest on their vehicle. Your $5,000 in negative equity will not have an impact upon your leased vehicle's depreciaiton, but it will be added to the amount financed, its capitalized cost, and you will have to pay interest on it as well. You would be much better off if you waited until you were less upside down on your current vehicle to lease a new one.

    On a vehicle that has an MSRP of $25,000, a selling price of $22,000 with $6,000 in negative equity and fees added in for a total cap cost of $28,000, a residual value of 50%, and a money factor of 0.00125, your 36 month, zero down, pre-tax monthly lease payment would be around a whopping $482.

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  • birdbirdbirdbird Member Posts: 63
    I wanted to ask Car_man his opinion also: Don't you normally get a better lease deal in October or November from Acura since they seem to wait until about then to send the new year model out to dealers. Seems like until then, they may be holding up on good lease deals, at least in our area. I wonder if they don't need to keep a certain number of RLs on their lot for those who want to buy them. Maybe just too early to expect the kind of lease deal that may be possible later when the manufacturer needs to lease or sell all the remaining 05 stock! As I mentioned, years ago the manufacturer was offering what I see now was a great leasing deal, but that was in November!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dloschiavo. The statement that the dealer that you spoke with made does not make sense. Toyota is not currently providing any dealer incentives on the 2005 Corolla. Even if it was providing $1,000 dealer cash on this car, that money would actually be deducted from its price, not added to it. It sounds like the dealer that you are working with is trying to add all sorts of fees to this car's invoice price. You were able to look up this car's actual dealer invoice here at Edmunds.com. Rather than letting dealers cloud things by adding all sorts of fees to your deal, find out the total price that you will have to pay for this car through this dealer, it sounds as though it is $14,500 and comparison shop it with a few other dealers in your area. Then go with the dealer that offers you the lowest total price, provided that you feel comfortable with them.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi steveo2. Toyota is running a special lease program on the 2005 Tundra in most regions this month, however for some reason I have not seen any info on its lease program for this truck in its Cincinnati region (your area). This may mean that there is not a special lease on the Tundra in your area at this time. If Toyota does not have special lease money factors on this truck, its cash incentives can be combined with its standard lease program.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings earcom. According to the latest informaiton that I have seen, Audi Financial Services' base lease money factor for a lease of a 2005.5 A4 2.0 quattro is 00135 for leases up to 36 months and .00155 for 39 to 42 months in length. I am not aware of any special regional offers from AFS that would provide the money factor that you say mentioned in the other discussion that you mentioned, but I suppose that it is possible that it exists. I doubt that the owner loyalty cash that is available on this car is available to current Passat owners, but you can always ask the dealer that you are working with to make certain. You don't have anything to lose by asking.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey djocks. I am not familiar with the company that you are considering leasing through, but I usually advise consumers to lease through manufacturers captive finance companies whenever possible. I do so for several reasons. One being that automakers often offer special lease programs on their vehicle to boost their sales numbers. You would miss out on these special lease programs by leasing through an independent bank. Another reason is that captive finance companies have a vested interest in keeping you happy. If you have a bad experience with them, there is a very good chance that you will never purchase or lease another vehicle from their parent company. Independent banks do not have much of a need to keep you happy and often are very picky when evaluating vehicles' conditions at lease-end.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cartfan1. I've never heard of a vehicle's lease payment changing when a lessee moves from one state to another. When did this change happen? I ask because it might be related to the vicarious liability laws that used to exist in New York. Many banks used to charge New York residents higher lease money factors or acquisition fees for vehicles because of the potential exposure to frivolous lawsuits in that state. However, the government recently passed a bill banning vicarious liability lawsuits and most banks have dropped their higher fees in New York.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello marcz. I don't recall seeing Land Rover's lease program for the 2006 LR3 HSE yet, but I have seen its program for the SE model. It is probably fairly similar. According to the latest information that I have seen, if you were to lease a LR3 SE7 V6 through its captive finance company right now for 36 months with 15,000 miles per, its base lease money factor and residual value should be .00263 and 59%, respectively. The numbers for an otherwise identical 48 month lease should be .00300 and 48%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome scott_barrett. I don't know exactly how AHFC decides who qualifies for which of its credit tiers, but it is very possible that it takes your past history of auto loan / lease repayment into account as well as your general credit score.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jkbarry. In general Nissans tend to be fairly reliable vehicles. As a result, it would probably be in your best interest to continue driving your Murano until you are less upside down. Regular maintenance items, like tires, oil changes, brakes, etc are probably amount to less than the amount of money that you are currently upside down on your Murano. Of course, if you really have that new car bug you can always get something new now, you are just probably going to have to spend more to do so now than if you had waited.

    You can lease your new vehicle if you drive 20,000 miles per year. The highest mileage allowance that most banks publish residual values for is 15,000 miles per year. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is almost always less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pete5754. You cannot just walk away from your current lease without making all of your remaining payments or buying your vehicle from the bank that you are leasing it through. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your current lease by comparing its 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 waiting until you are closer to the scheduled end of your lease to get another new vehicle.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi karbuyer. I believe that Atlanta Georgia is in Toyota's Southeast region. This is not exactly good news because it means that you have to purchase your truck from a dealer that got it from a distributor rather than directly from Toyota. Toyota has an arrangement with SE Toyota to distribute vehicles in your area. SE Toyota dealers cannot run leases through Toyota's normal captive finance company, Toyota Financial Services. Instead they have to use SE Toyota finance. The last time that I saw SE Toyota Finance's base lease money factor for the 2005 4Runner, it was .00229 for leases up to 36 months in length. I have not seen the residual values for a lease of this truck through SE Toyota Finance though.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings scrider. If you were to lease a 2006 Infiniti M35 AWD through Infiniti Financial Services right now for 39 months, its base lease money factor should be .00202. The residual values that you were quoted for this car are correct. As far as how to get a good deal on it goes, the first thing that you should do is negotiate an attractive selling price. Always remember that the selling prices of leased vehicles can be negotiated, just as if you were paying cash for or financing them. Once you have arrived at an attractive price, make sure that your car's lease payment is being calculated using the aforementioned money factor. If you do these two things you should be in good shape, because vehicles' selling prices and the mark-up of money factors are the two main profit centers for dealers on leases.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jpy. The selling price that you were quoted for this car looks good to me, but you might want to stop by the following discussion to see how much other community members have paid for similar cars lately: "BMW 3-Series: Prices Paid & Buying Experience". The lease money factor and residual value that you were quoted for this car is right on the month, though the factor should be expressed as .00250 rather than the 2.5 that you wrote. Using the numbers that you mentioned, I come up with a zero down, pre-tax monthly payment of around $598 for this car. One number that you mentioned looks to be a little off, the $695 acquisition fee. BMW Financial Services' base lease acquisition fee is currently only $625.

    Car_man
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    P.S. Though I have not seen anything official from BMW on this, rumor has it that it is enhancing its lease program on 2006 3-Series models for the month of September. Again, I don't know whether this is going to happen for certain, but if you feel like gambling you can always wait until next month to lease.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Birdbird, it is difficult to generalize about what the best time of the year is to lease a new vehicle. It all depends upon what the lease programs are like on it. On vehicles that normally do not have any sort of lease support available on them, like the Acura TL, the beginning of the model year would be the best time to lease because that is when its residual values will be the highest. With vehicles that have lease support on them, it might be better to wait until later in the model year when the support on them is higher, but not too long or the residual values will be too low.

    Edmunds.com often posts the details of manufacturers' advertised lease payments in the incentives section of this site. Consumers who are in areas where there is a decent level of competition for their business and who shop around can usually beat manufacturers' advertised lease payments. Automakers can't advertise the lowest possible deals on cars and trucks or their dealers would get angry that they aren't allowing them to make any profit.

    Car_man
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