Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see May lease deals!
Options
Lease Questions - Ask Here
This discussion has been closed.
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
Thanks for the prompt response and advice. After going back and raising the MB cash incentive for more leverage in connection with negotiating the cap cost, the dealer has quoted a lease with a pre-tax monthly payment of $715 and no money down for 39/mo and 15K/yr mileage. While the dealer tried to add in some more profit by padding the finance charge number in connection with the total drive-off cost (e.g., he provided a figure of $1,000), I "reminded" him that the MB finance charge should be $795. Thus, it looks like we're getting in the right ballpark now.
Would love to find out about 530xi, MSRP say around $51,500. On BMW's website it says the lease would be around $684/month for 36 months/12K miles (the terms I am looking for).
Based on your calculation/MF/etc - say it's a lot lower (e.g. $550) as an example, how do I get them to agree w/ your #'s rather than whatever they used? (please ignore if this is answered in the lease forum, which I am heading over right this).
Thanks in advance!
CN
I am planning on leasing a 2006 325i set up as follows:
- metallic paint
- premium package
- cold weather package
- satellite radio
I am planning on a 36 month lease and 18,000 miles per year. I would likely put down $2500.
I am interested in what I might reasonably achieve in terms of final price, money factor, and ultimately, monthly payment.
Thanks.
Offered lease on 2005 Saab 9-5 Arc with Luxury package. X-Loaner with 4K miles:
MSRP: 39,390
Selling price 28,000
36 months with 15k/year
2000 at lease inception and 433/ monthly payment.
Good deal??
Thanks for your help.
Thank you! I am glad I have your blessings that this is an "attractive deal." I have been reading your posts for the past 4 months and followed market trends and MFs as well. I believe now is a great time to buy certain Mercedes models. The residual was 75% for 27 months, and the money factor was the special subsidized rate. The residual will change when I up the mileage to 12K per year. I will compare the differential to the 20 cent (first 5K), 25 cent thereafter charge upon return. Hopefully the difference between the residuals divided by the mileage differential will be less than if i were to spend 20 cents for the first 5K and 25 cents after.
Had it not been for the forum here, and all the advice you have given over the years [yes, I went through the archives ], I would not have been able to pull off such a steal.
Again, thanks for all your help!
-Tony
:shades:
When do the September specials kick in for Honda & Toyota? Anyone know what they are yet?
Thanks in advance
I have most of the information I need to lease a 2005 BMW X3 3.0 (Current BMW incentive, 39 months / 10K miles per year, 63% residuals, .001 MF).
But I don't know anything about the smaller 2.5 engine. They're discontinuing that engine for model year 2006. So the residuals probably won't be as high as the current 3.0 lease incentives.
Do you have any number for this particular model? I'd want 24 months or 36 months on the 2.5 if I went ahead with it and if BMW isn't running 39 month specials on the 2.5.
Thanks Car_Man
I have gotten some wonderful information from this forum and this website - thank you! I'm all over the calculation to get to a lease payment now. My question or rather weak side - is how do you relay that to a dealer? I got my first quote today for a 24 month lease on the Altima 2.5s with conv package, I would be willing to put $1k toward first months payment and security deposit or whatever - and this dealer quoted me at $317+ tax. The MSRP is around $22,350 (do i need to negotiate this if they apply the incentive?) and I found for 15k mi/year to be at a 66% residual and .00175 MF. I read about the $1500 - is that something you specifically have to say - hey can you please apply that $1500 incentive? So given those figures - seems like the payment should be more like $247 or so? Do I bring my pencil and sit down and say this is what I come up with?! I think my trouble is getting them to show me how they came up with the numbers, especially with the sales guy running back and forth to the finance guy.
Thank you for any feedback!
Nikki :sick:
It's my understanding that you can get a more expensive car with a lease, with lower payments. They are asking for 04 SC430 - $45K, 24,000 miles. Based on the Lexus leasing calculator, monthly payment is $864. ...seem high to me.
Meeshel
I have talked to a few dealers today and they are all telling me that the current lease deals on the 2005 Civics and 2005 Camry's are only going to get worse after the new deals come out in September. The also told me that there will be no good lease deals on the 2006 Camry's until months down the road. In your opinion, is this true?? I can't tell if it is just dealer talk or is legit, someone please help me out here!!
Thanks in advance.
Just leased an infiniti m35x...3k down and 542/month x 39 (12,000 miles year).
On my contract, the depreciation/amortized amount is ca. 18794 and total "rent" charge (ie. interest, right?) is 6241.
When I run these through a interest caluculator, I get about 7.1% annual interest rate--is that correct? Seems a bit high to me!? Where does the "money rate" figure into all this?
Thanks!
Example:
Car costs $40K at start of lease, residual at end of lease is $24K... average amount borrowed is $32K.. This is the average outstanding balance owed on the car over the life of the lease... Use this figure (using your own numbers), and you'll see that your finance charges are much lower...
regards,
kyfdx
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
Total rent charge = money factor * (cap cost + residual value) * term (months)
This formula simply applies your interest rate to the average value of your car during your lease. The reason you ADD cap cost + residual is because you are averaging the two, but you don't see the division by 2 because it is included in the money factor calculation.
In other words, you can arrive at the same total rent charge number by the following calculation:
[(% Interest rate / 100) / 12] * [(Cap cost + Residual) / 2)] * Term
ie: Monthly interest rate * Average value of car during lease * # of months
People use "money factor" to simplify the above equation by combining the constants:
[[(% Interest rate / 100) / 12] / 2] * (Cap cost + residual) * Term
_or_
(% Interest rate / 2400) * (Cap cost + residual) * Term
_or_
Money factor * (Cap cost + residual) * Term
I'm no expert so please correct me if I'm wrong here.
I am planning on leasing a 2006 325i set up as follows:
- metallic paint
- premium package
- cold weather package
- satellite radio
Likely price will end up around $34,500 (my best guess as of now)
I am planning on a 36 month lease and 18,000 miles per year. Based on further reading of this forum, I am going to put as little down as possible, but will pay registration, fees etc.
I am interested in what I might reasonably achieve in terms of final price, money factor, and ultimately, monthly payment.
Thanks.
Just leased an infiniti m35x...3k down and 642/month x 39 (12,000 miles year).
On my contract, the depreciation/amortized amount is ca. 18794 and total "rent" charge (ie. interest, right?) is 6241.
When I run these through a interest caluculator, I get about 7.1% annual interest rate--is that correct? Seems a bit high to me!? Where does the "money rate" figure into all this?
Thanks!
Thanks in advance folks.
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
In your post you mentioned that you would like to make a $2,500 down payment on this lease. 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 325i would be exactly the same, regardless of whether you had put $2,500 down, or had made absolutely no down payment at all.
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
The problem with leasing used vehicles is that manufacturers often do not provide the same level of lease support on used vehicle leases as they do on new vehicle leases. As a result, there is often not much of a difference between the lease payments for a used vehicle and an equivalent new vehicle. You may want to get a price quote for a lease of a similar brand new SC 430 prior to committing to leasing a used one.
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Car_man
Host
Smart Shopper Forum
Anyways, I never asked, but should have, what the cap cost was in that last deal (the 475/month deal). Car_Man, Can you back into that number for me? Here are the numbers on the 2006 XC90:
MSRP 41,780 - 36 months - 0 down - 12K miles/year = 475/month, cap cost = ????
I'd like to know this when/if I go back. I'm attempting to sell my car on my own.
Thanks yet again!!!
Money factor X (residual + cap cost) = monthly finance charge..
In short... you are in error..
regards,
kyfdx
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
that was the formula I was looking for, THAT answers my question.
Thanx
regards,
kyfdx
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
Also I am awaiting for two more quotes from two other dealers in town.
2005 350Z Roadster Touring in Black exterior and automatic.
1. MSRP - $39,850
2. Invoice Price - $36,813
3. Cash Rebates - 0
4. Dealer Cash...
5. Selling Price - $36,413
6. 36 Months
7. Mileage - 15,000/year
8. Overage Charge - 15 cents/mile
9. No Down payment
10. Cost to Sign - only first months payment ($686.89) - Security Deposit waived
11. Rate Lease Money Factor - .00295
12. Residual Value - 53%
Again, thanks for your help.
Frederick
Oh- I should also say the MSRP including destination is:27,365...Thanks for your help..