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What you owe on the C240 is the final buyout price at the end of the lease (which you can find on your lease agreement) PLUS all the remaining lease payments. For example, if your lease is, say $400 a month for 36 months and the buyout at the end is $15K, then you owe $26,200 ($15K plus $11,200 in remaining payments). If the car is currently only worth $22,200, then you have $4K negative equity.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
This depends on the leasing company...I think some leasing companies waive all or a portion of the finance charge in the total of the monthly payments if you buy out early. I checked my buy out and it was significantly less that the total of remaining payments + residual. But I guess it depends on the bank, definitely something to consider before signing on the dotted line...
regards,
kyfdx
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Are my calculations incorrect? Is there another "finance charge" that GMAC (or the dealer) is not disclosing?
Toyota's leases just aren't as good as other manufacturers.
I believe the don't residualize the destination charge or some of the optional equipment. With all the option packages Toyota puts on their cars this can get ugly. Luckily your Camry doesn't have a lot of extra equipment.
You're on a 2005 Camry LE 4 cylinder. Optional equipment is floor mats.
The 12,000 mile residual at 36 months IS $11,069. He's not lying.
Invoice is $19,089. I'd offer invoice or less and compare the payment to a 60 month purchase to see which makes more sense to you. Good luck.
I am negotiating a Smart Buy through GMC. The current residual is 43% and the interest rate on the Smart Buy is 7.5%. I got an MSRP of $53,600 and I'm paying $43,895 (including rebates) for the car. When I try to calculate the monthly payments, I determine the residual value to be $23,048 ($53,600 x .43), so I see the amount I am financing at $20,847 ($43,895-$23,048). Multiply that by a 7.5% rate for 48 months and I get $595.70/month. The dealer is coming up with a different number.
Are my calculations incorrect? Is there another "finance charge" that GMAC (or the dealer) is not disclosing?
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
I'm looking to lease a 2005 Mazda 3 (manual transmission, 5 door hatch/wagon) for 24 months. What type of deal on a lease should I work towards or expect? I'm located in the SF area of California if that helps.
Thanks.
$1,000 under invoice is definitely a good deal on a 2006 Mercedes-Benz E350 Wagon. I would be happy to calculate a lease payment on this vehicle for you using Mercedes-Benz Credit's actual lease program for it, but in order for me to do so I need you to provide me with its actual selling price. Furthermore, Mercedes is scheduled to publish its new September lease program within the next day or two. I should have an idea of what the new program is like sometime next week. Please feel free to post a reminder, containing the selling price, for me then and I will work up a lease payment for you.
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You never mentioned the selling price of the car that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to work up a sample lease payment on the Passat that you are interested in for you if you let me know what its selling price is. Also, VW's August incentive program is scheduled to run through September 6th. If you do not plan on leasing this car before then, wait until later on next week and post a reminder for me. I should have an idea of what the new September program is like by then.
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Let's calculate a sample lease payment using Land Rover Capital Group's actual lease program and the prices that you mentioned in your post and see what we come up with. According to my calculations, if you were to lease a 2005 Land Rover Range Rover Sport HSE with an MSRP of $63,400 and a capitalized cost of $64,095 through LRCG right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around a whopping $1,063 per month. If the payment that you mentioned does not include tax then the dealer may be marking up this truck's money factor a little bit. The bottom line is that given the market for this truck, I'm not sure that you are going to be able to get a better deal on it, but you might as well shop around because you can't do much worse.
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This is also reflected on the BMW web site.
pay off is $28800.
trade in value is $25400
Everything on the papers looked good and matched what we had negotiated. Since I had my 7month old daugher strapped to my chest and my wife chasing the other two around the showroom didn't get to read everything over (first mistake).
So last night I'm reading the fine print and there is a box on the Honda FS Lease Agreement called "Estimated Fees and Taxes During Lease Term". The verbage is" I agree to pay when due or reimburse Lessor for all title/license/registration/official fees and taxes over the term of my Lease, whether paid at lease signing, included in my monthly payment or assessed otherwise". The estimated number they have is $1500.
It is my understanding that in Indiana I only pay sales tax on the monthly which over the term is $588. I also know I pay the title and reg fees plus Indiana Excess Tax each year. The exice tax will be 250+217+189 or 217+189+163 depending on what age the BMV gives the car (I think they base it on model release or something).
So I guess between the excise tax and sales tax I'm at 1245. Any ideas what else they could be including? Now that I due the math on the known fees I don't feel to bad, was just worried about getting a bill for $1500 next month. Will ask the dealer when I go to pick up, but thought I'd ask here too.
Thanks!
I am looking this month to lease a BMW Z4 Roadster. Can you please tell me what the Money Factor and Residual Value is for September. They say they have a "deal" i.e., 24 months at $350.00 per month with $4K down total. Any suggestions would be greatly appreciated.
:confuse:
as above
$2500 total cash out
39month lease, 12000 miles/yr
$780.03 per month (inc tax)
(the$3,874.65 roll over included in this deal)
thanks
I'm trading in my '05 C240 (leased thru MB)
Dealer quoted the C240 payoff is $28,874, the negative equity is $3,874.65 (which will roll over to the new lease)
'06 ML350 (appearnce & sunroof package) MSRP $45,155
Dealer offer is $43,148
--with a 39month lease, 12000 miles/yr, $2,500 cash out of pocket and rolling the negative equity ($3,874.65), the monthly payment is $723.93 ($780.03 with tax based on 7.75% tax rate)
Dealer said these numbers are based on tier one credit(whatever that means) :confuse:
Please tell me if this is a good/fair deal.
Thanks
What would be good residual and money factor values for a good lease deal?
For example, I was looking at a 2006 Audi A3 for 3 years/36K, it had a residual of 51% and a .002897 money factor and thought those were good values for leasing. But I also heard that those were bad numbers.
please help
Basically, the legal mumbo-jumbo is telling you that you have the same obligations, as though you actually owned the car (instead of Honda Finance). That whatever taxes or fees are due by the owner of the car, will fall on you, and not the bank..
I'm not sure why they picked $1500... maybe that is the standard verbiage...
regards,
kyfdx
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Please give me an idea on a 36 month lease 15k miles for a loaded 2005 XC90 V8. The sticker is approx $54k and the selling price is $44500. I was given a price of $600 a month for 36 months incl tax (7%) with approx $1k down..Is this a good deal? Thanks
Could you please provide the money factor and residual for a 2005 CRV EX model for a 36 month lease with 12,000 miles/year? I am located in New Jersey. Thank you.
Counld not close a deal on the phaeton last month. Fom What I understand the new lease program comes out on Sept 6. I have been slammed with calls trying to get me to lease this car for my dad on the 2nd and 3rd of sept. I have been told that the incentives are better, but no one wants to disclose what they are. I noticed that there is 7500 dealer cash on non vw financed purhases or leases. Could you tell me if there is any lease cash and if the rate and residual are the same. 36 month 45,000 miles rate= .00011 and residual is 53%. Thanks for all off the help you really help people get the most for thier money.
I'm in the market for a VW Phaeton, which I need for a weekly commute of approx. 800 miles. Since I have access to other cars, I can assume using the Phaeton for only about half the year (probably the winter months, considering 4-wheel drive). I've never leased before, and normally finance for 60 months and keep cars much longer, as long as 15 yrs, because I treat them exceptionally well and maintain them scrupulously.
For a 2005 Phaeton with coldweather/comfort package and keyless access I have the following offer: selling price 68.5k zero down and:
1) lease 48months, 20kmiles/year, monthly payment 969. or
2) lease 36months, 20kmiles/year, monthly payment 1064. or
3) buy, finance 66 months at 2.9% monthly payment 1185.
I am leaning toward buyng because the monthly payment is close, and could be even closer by putting a few thousand down, and I would not have to worry about mileage plus possible excess wear and tear at lease end. However, I worry that if the car proves unreliable (complex electronics, air suspension, etc.) and expensive to maintain, I would likely be upside down with an almost unsaleable relatively high mileage trade.
I would very much appreciate your advice re lease vs. buy and also whether these lease terms are reasonably good.
Many thanks
Motorista
i'm from Southern California.
i'm currently negotiating a deal with on an '06 ML350.
I'm trading in my '05 C240 (leased thru MB)
Dealer quoted the C240 payoff is $28,874, the negative equity is $3,874.65 (which will roll over to the new lease)
'06 ML350 (appearnce & sunroof package) MSRP $45,155
Dealer offer is $43,148
-->with a 39month lease, 12000 miles/yr, $2,500 cash out of pocket and rolling the negative equity ($3,874.65), the monthly payment is $723.93 ($780.03 with tax based on 7.75% tax rate)
Dealer said these numbers are based on tier one credit(whatever that means) :confuse:
Please tell me if this is a good/fair deal.
Thanks
I am interested in leasing a 2006 Lexus RX 400h with heated seats from a local NJ dealer. The dealer is charging $1700.00 above invoice. The lease that fits me the best is 36 months and 15K/year.
I want just pay fees plus the first month's payment. I would like the 6% sale tax in the lease payments.
The dealer claims that Lexus has the best program. The residual, as of August, is 62% and the money factor is not discounted currently (I don't know what it is).
I would like to spend close to $600/month.
Please let me know what the present dealer offer is per month and how we can get to $600.
Thanks
Thanks
K
My deals are
A. G35 Coupe 6mt+premium pkg, MSRP $36,700, selling price $34,100 (invoice+$500), 36 month term, 15k miles/yr, $1,500 drive off, $488/month including 8.25% tax.
B. The same as above but navi included, MSRP $38,700, selling price $34,900 (My calculation - I was told its $500 below invoice), 42 month, 15k, $1,500 drive off, $482/m incl tax.
Q1. Lease calculator returns $465/m payment if I put $550 bank fee. What am I missing?
Q2. What do you think of above deal? Deal B attracts me but is it really below invoice?
Thanks!!!
Having a devil of a time calculating a reliable lease quote on a 2005 Escape XLS (FWD, 4 cyl). There are 3 things that are fouling me up:
1) How do I figure in the current $2000 cash back promo currently being offered by Ford (do I just deduct from the negotiated price)?
2) What would constitute a reliable money factor and residual value for this SUV?
3) According to TMV in my area (11209), other buyers are already paying below invoice (close to $600) before even factoring in the $2000. Any thoughts as to why so low?
Using a -
Negotiated price incl. destination = $18,685
residual = .55
interest rate = 4% (or .0016 money factor)
I came up with a bottom line monthly payment of $259.97 (taxes not included) for 36 mo. lease w/ no money down.
Any input would be greatly appreciated. Thanks in advance!
lease deal as follows: 36months/ 12k miles per year, $598.40 per. month (tax included)
$2000 down
$625 bank fee
$600 sec.
$598.40 first month
$549 wheel/tire insurance/ life of the lease
$145 reg./inspec.
car man, kirstie h,kydh, and anyone else, your thoughts on this deal please?
Just picked up my Acura RL. If possible can you tell me IF this is a good deal?
1. $3000 total down, 15K a year, $588 a month (taxes included). Does this sound good?
Thanks,
JT
If you drive over 40,000 miles/year (or even 1/2 the year for 20,000) and tend to keep your cars that long, leasing may not be for you. Considering you'll have years and years of no car payment, it would work out better financially in the long run to purchase/finance...... Not trying to tell you what to do, but this was my two cents based on your scenario.
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We've negotiated a good price on a Subaru Tribeca in Albany, NY. If it's only a matter of weeks, we'll stall the dealer (the car isn't due to arrive for another week). A regular lease will save us at least a $1000 in state taxes, well worth the wait.
Anyone know the status of this?
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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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It is difficult for me to say if you could negotiate a better deal on this car without at least knowing its full MSRP. For more feedback on 325i pricing, make sure to stop by the following discussion: "BMW 3-Series: Prices Paid & Buying Experience". The one thing that I can tell you about your deal is that it would be in your best interest not to make such a large down payment. 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 several thousand dollars down, or had made absolutely no down payment at all.
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