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The rules on this subject may vary from state to state, but I would not be surprised if you were not allowed to transfer your plates from the vehicle that you are trading in to your new leased car because technically you do not own it, the bank that you are leasing it through does.
Most of the lease calculators that are available on-line are not all that accurate unless you plug in the exact selling price of the vehicle that you are interested in as well as the exact lease money factor and residual value that will be used to calculate its monthly payment. I can give you an idea of what this car's lease program is like if you let me know the exact model that you are interested in, as well as how long you would like to lease it for and how many miles per year you need to be able to drive it.
Always remember that the selling prices of leased vehicles are negotiable, just as if you are paying cash for or leasing them. Manufacturers' advertised lease payments often leave a little meat on the bone so to speak. As a result, I would not be surprised if you were able to negotiate a lower lease payment than the one that is featured in the advertisement that you saw on the car that you are interested in.
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In answer to your specific question, you absolutely should negotiate the selling price of the vehicle that you are interested in leasing. The advertised lease for the Murano that you saw probably assumes some sort of dealer discount, but you should be able to negotiate a lower selling price than the one that the ad was based upon if you shop around.
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ok, Here are the numbers that I've gotten for the G35 sedan lease. Let me know if this is a good deal.
Selling price - $33110
VA Tax - $1011 (Btw, does lease in VA taxed as a Sales Tax and not a Use Tax? And Also, is the sales tax on the MSRP of the vehicle or the selling price? The dealer is telling me that the tax is based on the MSRP price; MSRP: $35910)
Tags - $37.50
Doc Fee - $389
Bank Fee - $550 (Aquisition Fee)
TOTAL = $35080 (Total Cap Cost)
I've qualified for the lowest money factor rate offered by IFS on a 39 month lease so that's .00171. At 58% residual at 12000 miles a year, the payment is coming out to $461 a month.
Is this a good deal and what would the payment be if I put down $1000?
Thanks!!
Mike
Thanks.
I was wondering if you could help me on a lease. I am located in Iowa.
2005 Toyota Camry Std. w/ Automatic Transmision
MSRP: $19,565
Sale Price: $17,700 (after $750 cash back from Toyota)
Miles: 12,000
Term: 36 months
Credit: Tier 1 rating
Thanks in advance for the help.
Yes, equivalent if you make 36 monthly payments over the next three years. NOT equivalent to 5% if you make ALL the payments up front.
And, in fact, my calculations have already shown that the prepay calculations are $2000 OVER AND ABOVE a properly calculated 5% interest paid on the residual (the part I'm not prepaying).
That is my point. Nobody in their right mind would opt for the prepay.
I could put the prepay amount in a savings account paying less than 0.5% interest and be able to pay out the "regular" monthly lease payments and have money left over at the end of three years.
In other words, I am getting very near ZERO advantage by paying all the payments up front.
That just makes no sense.
My analogy - this is me talking to the BMW finance person - "for the benefit of taking all my money up front, how about if I give you an extra $2000?".
From a purely financial standpoint, do you agree?, disagree?, am I missing something?
Thanks again - this is my new favorite forum!
The discounted money factor is where the savings comes in... So, you can't apply the reduced money factor normally, as you would in a regular lease..
That said, .0021 isn't much of a discount from the base rate of .0025.... This makes me think that they wouldn't have offered you the base rate of .0025 on a regular lease.... and.. that .0021 isn't the base rate for a pre-pay lease.. I think it is probably marked up for extra profit..
So, you are correct.... The pre-pay lease money factor doesn't actually equate to an effective 5%... However, the normal base money factor is 6%.. and if they mark it up the maximum, it is nearly 7%..
If they are going to mark-up the money factor (and, I believe they have), then you would be much better off buying the car at 5%-5.5% interest..
regards,
kyfdx
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My dealer quoted me?
36 Month - 12k year - .0030 and 62%
36 Month - 10k year - .0025 and 64%
What about a 42-month lease
Also, what is the excessive mileage rate? ,15 or .25.
To save you guys some burden:
i) Is there a way to post residual/MF data for a car or group of cars in one post and then refer people to that post # when they ask for it? For example, each month post the 325/330/TL/G35 2yr/3yr 10k/12k/15k residual data in 1 post, then constantly refer ppl to that (since ppl ask about those cars a lot). There might be a reason why this isn't done already (let me know if there is).
ii) I feel I can contribute here - I have put together a very simple excel spreadsheet which is easier to use than most online calculators. After you guys confirm it's 100% correct, maybe we can post it somewhere online (I don't have a website) and refer ppl to the link when they want to run numbers and sensitivity analysis. That will save you guys some burden and help people better understand how the numbers are calculated (since you can see the formulas). Unlike other lease spreadsheets online, it's very simple - literally 1 column in excel. It includes another column for the "buy" case as well. (file size = 20kb).
let me know what you guys think. Just want to clear up some clutter on this otherwise amazing forum
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I think I mentioned that I decided to hold off a bit on leasing a new RL because the local dealers would not coming anywhere near the deals what others have been reporting on this forum. I mean way more!
Do you have any information on whether Acura will be posting any new special lease on their website next month? And what day do they normally do that?
Also, I looked back on the "waybackmachin.com" and see that several years ago (I believe December of 02) Acura offered an amazing lease deal on the RL at their website end of the year, I think beginning November of something.
However, it seems that in recent years to car companies are posting lease deals that really are not very good at all when you add in the down payment, tax and so on. Have the days of seeing good deals at manufacturer websites gone for good in your opinion?
Please give me your opinion on the following lease in the Cincinnati Region:
The dealer is offering the lease of a 2005 Toyota 4Runner V8 Sport 4X4:
Term 36 months/15K miles
MSRP $35,444
Selling Price $32,611 (which seems a bit high to me)
Due at signing $560
Residual = $20,024 (This should be 60%, but is not calculating as so. Could it be options that are not residualized?)
Interest = $982 (I calculate $581.87)
Tax = $881
Payment including tax = $401.41
Pre-tax payment should therefore = $376.94
He claims he is using a MF of .00030.
The numbers do not seem to be adding up to me. I am getting a pre-tax payment of $331 (monthly depreciation of $315 + interest of $16). If the numbers are correct, what is your opinion of this lease?
Seems like all of the local (Milwaukee) dealers have sold the last 2005 Odyssey EX's. Some dealers have a few 2006 models and others have them coming in soon. Have you seen any numbers from AHFC for the 2006 Odyssey EX for 3 years 36,000 miles?
Would you recommend leasing through third party lease company on the internet such as www.leasefax.com or www.leasebytel.com ? they seem to have better deals with zero downpayment. would they be able to get a lower mf than, say the BMWFS for example?
Thanks Ariel
Any updates on the September lease specials on the 2006 3 Series?
regards,
kyfdx
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MSRP $46900
Selling Price $43600
Help...
>
Thanks for the infor. It is helping me keep local dealers honest. Unbelievable what BS one rep just gave me over the phone: An AHFC money factor of .00295 with 60% residual for 36 months with 10,000 miles per year. I challenged this based on your information and he came back and said "oh, with a security deposit it would be .0024" I then said I thought that a security deposit was included in the $1982 total due on delivery." He said he'd have to go back and check with his manager. I'm waiting.
I'm thinking of leasing an M35 for 36 or 39 months, 10K miles/year. Yesterday, I was quoted a .00213 leasing factor and a 63% residual for a 39 month lease supposedly offered by Infiniti Financial Services. What is their current residual and money factor for 10k miles/yr at 36 and 39 months?
Do residuals and/or money factors ever depend on where one lives (I live in Jacksonville, FL) or what packages one gets (Sport, Technology, Journey).
I love this forum and I find your information is very helpful.
Thanks in advance,
NolongerleasingscarednowthatI'marmedwithyourinformation
Along with glgphd's request, would you please also disclose the MF and residual for 12K and 15K miles/year for the M35?
Bushwack thanks you.
ps- Im in SoCal
I'm a first time poster/buyer/leaser. After much shopping, I've decided to lease a 2005.5 A4 (24 months / 10k). I found the car that I want and the dealer seems to be a cut-to-the chase kind of guy. I told him that another dealer said the money factor was 1% with a 70% residual based on the national lease program and he actually corrects me and tells me that it's a 71% residual (although he was vague about the money factor...something about .0087).
Anyhow, here are the numbers he's given me - can you please tell me if there is room for more negotiating? Every time I run the numbers myself it never seems to add up.
Car: Audi A4 Automatic 2005.5 with Premium Package, Lighting Package, Navigation, Audio Package, 17" wheels, Headlight Washer, California Emissions, Metallic Paint
MSRP - $36,995
Current Offered Price - $35,142 (he says that it is $500 above his cost)
Out the door - $3,444.50
Monthly - $366.12
I'm also interested in increasing the mileage from 10k to 15k - any estimates as to how much this should cost? He also mentions two charges that seem...odd:
1. Southern California Ad Association - $264.06
2. Prep & Handling - I forget but I think it was about $350
As I said, this is my first time so ANY additional information from experienced buyers/leasers would be appreciated!! I'm located in Los Angeles in case that matters.
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