Lease Questions - Ask Here

lelandc · November 2001

Carman,

Can you give me the money factor and residual for a 2002 Chevrolet Tahoe Z71 4x4? I am interested in a 36 month 15,000 mile per year lease...

Thanks,

Leland

meagvg · November 2001

Hello Car_Man,

Would you please review these numbers and let me know if it appears correct? I've never leased before and I wanted to run it by you.

'02 Mercedes E55
MSRP: 74075
Cap: 73075
Resd: 65%
MF: .00325
Term: 36 months, 10K/yr
CA tax: 7.5%
Lux Tax: $1403
Drive off payment: $1804
Monthly: $1280

As always, thanks for your help and advice.

Mike

im_brentwood · November 2001

Hmm..

Seeing as how I've paid, at wholesale, in the mid $50Ks for 2 2000 E55 AMGs lately...

You might bebetter off buying this one.

Bill

CarMan@Edmunds · November 2001

Hi again vr88. You are correct the lease money factors for Chrysler Financial leases would be the same for both 15,000 and 12,000 miles per year leases. Most banks are like that. In fact, the only one that I can think of off of the top of my head that issues different money factors for different mileage leases is Jaguar Credit. Strange... Anyhow, in answer to your question, for Chrysler Financial leases of less than 42 months in length, 15,000 miles per year residual values should be increased by 3% to convert them into 12,000 miles per year residual values.

Car_Man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

You're welcome, aab & borsyst. I am glad that I was able to help you out.

Car_Man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

bigshotla, I am sorry that your girlfriend has to leave the country. Even though she's leaving the U.S., it's not like she is going overseas. Although I don't know the exact legal parameters for her lease that are set out in her contract, I don't see why she could not continue to lease her current vehicle while living in Canada. Of course, she will need to call the bank that she is leasing it through to find out whether she will actually be allowed to do so. If not, then she has a couple of other options. One would be to try to find someone who is willing to assume her lease payments. There are several Web sites out there that allow consumers to advertise their leased vehicles to see if anyone else would be willing to take over their lease. Of course, she may have to subsidize the payments out of her own pocket somewhat to entice someone else to take over her contract. Another option would be for her to find out exactly how much money it would cost her to purchase her car at this time and then try to sell it in the newspaper or to a dealership. Again, she may have to pay some money out of her own pocket to cover the difference between her payoff and what she is actually able to get for her car, but it's better than having to pay for the entire thing when money is tight.

Car_Man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

Sorry for the delay, Shipo. I answer as many questions as I physically have time to. I just jumped back to your original question (sort of irritating isn't it that the "jump" feature doesn't actually jump to the post that you want it to isn't is

) and took a look at it. All banks are different. Some will allow lessees to extend their current contracts and some won't. For example, I have found American Honda Finance Corp. to be very willing to work with their customers. They will allow their lessees to extend their leases up to three separate times for as long as they would like at their current payment. Other banks, like Nissan Motor Acceptance Corp. don't seem to be willing to allow their lessees to extend their leases at all. Having said that, I highly doubt that any bank would allow any of its lessees to extend their contracts with zero additional miles so that they can use up their unused mileage. There is no incentive for them to do so. If they get your car back and it is way under mileage, it's good for them because it will theoretically be worth more money than one with the mileage that you were allowed to drive. If you were leasing through a captive finance company like BMW Financial Services, they might be willing to work with you to keep you as a happy customer. However, BancOne has no incentive to do something that is not in their financial interest. Used vehicle leases are very hit and miss. They often are not very good deals. I have a feeling that you will have a difficult time finding a bank that will purchase the BMW that you are currently leasing at lease-end and allow you to lease it through them at a fair price. If you are way under your vehicle's allowed mileage, there is a chance that it is worth more than your lease-end purchase option price. I think that your best bet is to find out exactly how much money it would cost you to buy your car when your lease is up and then see if you can get a dealership to give you more for your vehicle than that amount. This really is the only way that you can take advantage of being under mileage. Good luck, and let us know how everything turns out.

Car_Man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

It's very possible that the destination charge is the reason for the discrepancy in our payment calculations, blerner2. When calculating monthly lease payments for a car or truck one needs to use its full MSRP including any options that may be residualized and the destination charge.

Car_Man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

Eric, BMW Financial Services' lease program was scheduled to expire on October 31st and I have not seen their November program, yet. I should have had a chance to check it out by mid-week if you would like to check back with me then for the exact details. I have to say though that I find it very unlikely that they would increase their residual values over the ones that they published in their October program. Generally speaking a vehicle's residual values will gradually decrease as the model year progresses. Although it is possible that a company would make an adjustment to the residuals for a few models that would increase them mid-model year, it is not very likely that they would increase their vehicle's residuals brand-wide.

Car_Man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

Wing5nut, American Honda Finance Corp. did increase their lease acquisition fee to $550 not that long ago. Anyone who leases a vehicle through them has to pay this fee and the dealer does not see any of it. It is irritating, but it is just the price that one has to pay if they want to lease through them. On a positive note, even though their bank fee is high AHFC seems to be very accommodating for its customers. They are usually very lenient at lease-end when evaluating excess wear and tear charges and will work with lessees who which to extend their leases at their current payment for any period of time.

Car_Man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

Mmcbride1, the lease programs for both of these manufacturers were scheduled to expire on October 31st. I should have had an opportunity to take a look at their November programs by mid-week if you would like to check back with me then. Thanks.

Car_Man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

Hi lebodde. Don't worry about being repetitive if you are going to throw compliments my way, I'll take all that I can get

. As far as a sales tax holiday goes, first it remains to be seen if such a method for stimulating the economy is even going to be implemented. If it is, I suppose that it is possible that it would include sales tax on automobiles. Given the fact that October 2001 was the best month ever for light vehicle sales, I find it hard to believe that the government sees the need to provide a free pass on sales tax on automobiles, but who knows what they'll end up doing. Sales tax on leases is calculated differently depending upon where you live, so it is very difficult to generalize about how this proposed tax holiday would affect lease taxes. I suspect that if this sort of proposal was passed it would allow someone to lease a new car or truck without having to pay any sort of tax at all over the length of their lease term.

Car_Man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

Gary, I would be more than happy to provide you with a sample lease payment on the ML320. However, I have not seen the Mercedes-Benz Credit Corp. November lease program, yet. Please feel free to check back with me late next week and I should have the necessary information to calculate a sample lease payment for you. Talk to you soon.

Car_Man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

Leland, General Motors really does not have much in the way of lease support available on the Tahoe right now. If you were to lease one through General Motors Acceptance Corp. at this time you would probably have to use their standard lease rate, which is right around 6.75% or so. If I was interested in this particular vehicle right now, I think that I would rather finance it using GM's special financing program. By doing so, you can take advantage of interest rates as low as 0.0% for up to 36 months, 2.9% for 48 months, and 4.9% for 60 months. These rates are much better than their lease rates.

Car_Man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

Mike, when did you get this lease payment quote? I ask because I believe that Mercedes-Benz Credit Corp. issued a new lease program for the month of November. I would be happy to calculate a sample lease payment for you using their most current lease program, however I likely won't have had a chance to take a look at it until late this week. Please feel free to check back with me then for the latest information. Thanks.

Car_Man
Host
Smart Shoppers / FWI Message Boards

meagvg · November 2001

Hi Bill,

I was planning on paying cash for the car, since the money at about 8% doesn't make the deal that great. Salesman ran the lease numbers by me, and I'm not very familiar with leasing, told him I'd think it over.
I've read your frequent postings and respect your opinions. Thanks for the quick feedback.

Mike

meagvg · November 2001

Hello Car_Man,

Thank you for the reply. I was quoted the lease numbers yesterday, which would make that Friday, Nov 2.
If you get a chance to peek at MB's leasing numbers for November, please let me know.

Much thanks,

Mike

im_brentwood · November 2001

Glad to be able to help and thanks

In this case, unless you have tax benefits...

Grab the checkbook.

Bill

arthur3 · November 2001

Carman et al:

Do you know what the fair residual value is for a CPO BMW 740i? Looking at a 1999 740, w/18k miles, priced at $43200.....so far so good..

Dealer is quoting 50% from BMW, which seems way low, with a payment of $780/month/36mos..... seems to me this is overpriced.... your thoughts? Given the new model on its way, have you seen any good 740 deals around the country?? Thanks..

wing5nut · November 2001

Thanks, Car_man! That reinforces my high opinion of the lease process I experienced with my Acura dealer.

Along with our host, again I want to sincerely thank all of the regular contributors to this forum. Your insights have been invaluable!

wing5nut

valueguy · November 2001

Car man

A simple question for you. Is the BMW acquisition fee legitimate and if so, what is it? How is BMW at the end of the lease as far as wear and tear items?

Thanks

im_brentwood · November 2001

50% isnt out of line depending on what it i based on...

$42,900 is reasonable, but shoot for $41K or so certified if you can.

Right now I'm buying 1996 740iLs with 50-60K on them in clean shape (Good colors) for around $20-21Kish... Or about 50% of what you're paying for the car now (It would likely currently wholesale for $36-37,000. Figure $1,500 in recon and certification costs.. your price is not bad.

I question it as used car lease residuals are usually based on a fixed dollar amount that can be adjusted based on how many miles and what equipment the car has at inception.

I.E. Base residual could be $20,750 but a 5% add if the car has under 20K miles for example..And a $500 add for, say, factory 18" Wheels..etc..

That or the residual may be a percentage of NADA retail perhaps...

Hope this helps!

Bill

lazura · November 2001

Brentwoodvolvo,
I just happen to be looking at 1996 - 1998 740iL's with 50 to 60K miles. I figure I could get the car between 30 to 35K (good condition). Is that about right? Also, I am interested in leasing one of these vehicles. What kind of money factor can I get? With the glut of used cars right now coming off leases, I was hoping I could get a good deal on a used 740iL with a low money factor and decent residual percentage. Also, I'm only interested in 15,000 miles/year.

lotus18 · November 2001

Car_man,
It seems that you can find the money factor and residual value for most of the NEW vehicles. How about the pre-owned ? Is there any fixed factors and residual for the pre-owned vehicles? If not, does it mean leasing a used vehicle is not as good an idea as leasing a new one since the used car sellers/banks can fixed any numbers they want to ?
Does Edmunds provide review articles for leasing pre-owned vehicles? I think the calculation is a little difference than that for the new vehicles, correct? At least, they do not have a MSRP figure, do we just multiple the selling price by the residual percentage in order to find out the residual value?

im_brentwood · November 2001

From what I have seen... you're probablya lot better off buying one of those.

The programs that I have seen just aren;t that hot.

If you want to lease, go new.

And $30K for a 1996 is just way too much.

Bill

cupholder1 · November 2001

Car Man:

One poster wants to know about leasing used cars. From what I know, leasing used is a very bad way to go. Which is kind of strange. With leasing, you're paying for depreciation.. and most depreciation, or the big drop, occurs in the first few years. So it would seem like a used car lease would be a good deal since you'd be paying for a lot less depreciation. But it just doesn't work out that way. Wonder why...

CarMan@Edmunds · November 2001

Hi Arthur. Unfortunately, the number of variables involved in used vehicle leasing (many model years of vehicles, different mileage, etc...) it is very difficult to keep track of all of the residual values that banks issue for used cars and trucks. I really don't know what the exact residual value for a Certified Pre-Owned 7-Series like the one that you described should be like at this time. Generally speaking, most manufacturers do not provide nearly as much support on used vehicle leases as they do on new vehicle leases. As a result, pre-owned vehicle leases are often not as good a deal as new. Of course, there are exceptions to this rule of which BMW can be one. From time to time they run decent lease and finance specials on CPO models. Still, I personally think that you might be better off financing this particular car.

Car_Man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

You're welcome, wing5nut. I am glad that we were able to give you the information that you needed to get a good deal on your new car.

Car_Man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

Valueguy, yes BMW Financial Services also has a legitimate lease acquisition fee that it charges on all of its deals. The last time that I heard, their specific acquisition fee was $525 for all models. I don't have any personal lease-end experience with BMW FS to draw from, but have been around Edmunds for many moons and also know several people who are leasing and who have leased BMWs and they seem to be relatively lenient at lease-end as far as wear and tear assessment goes.

Car_Man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

Lotus18, as I mentioned in a previous post, given the number of variables involved in used vehicle leasing (many model years of vehicles, different mileage, etc...) it is very difficult to keep track of all of the residual values that banks issue for used cars and trucks. Generally speaking, most manufacturers do not provide nearly as much support on used vehicle leases as they do on new vehicle leases. As a result, pre-owned vehicle leases are often not as good a deal as new. Of course, there are exceptions to this rule. One should be able to calculate a used vehicle lease in a very similar manner to the way that a new vehicle lease should be calculated, with one major exception. Rather than use a percentage to express a particular vehicle's residual value, many banks issue actual dollar values for what the believe used vehicles will be worth at the end of a certain lease term.

Car_Man
Host
Smart Shoppers / FWI Message Boards

shaker58 · November 2001

thanks carman please post the estimated lease payment when you get the new rate

thanks
gary

mikeelmendorf · November 2001

Hi --

Can you please give me a ballpark figure for a lease on an 2002 Audi A4 3.0 Quattro based on the following:

3 years, 18k miles/year.

Car equipped with:

Premium Package
$490 $550

--------------------------------------------------------------------------------

Bose(R) Premium Sound System
$579 $650

--------------------------------------------------------------------------------

Xenon High Intensity Discharge Headlights
$445 $500

--------------------------------------------------------------------------------

Heated Front and Rear Seats
$467 $525

--------------------------------------------------------------------------------

Buffalino(R) Leather Seat Upholstery
$1175 $1320

--------------------------------------------------------------------------------

Power Glass Sunroof
$890 $1000

--------------------------------------------------------------------------------

Total of Selected Options
$4046 $4545

Totalling: $38260 MSRP, $34741Invoice.

Also, what would adding the Nav system at $1,350 do? I understand that these are often not residualized--and that they LOWER the residuals on most cars (not sure if that applies for Audi.)

Thanks.

ME

CarMan@Edmunds · November 2001

Hi Mike, I would be happy to help you out. According to my calculations if you were to lease a 2002 A4 3.0L quattro with the options that you described for 3 years with 15,000 miles per during the month of November the zero down, pre-tax monthly lease payment should be right around $602 or so. I don't know exactly what the market is like for this car is like in your area at this time. This payment is based on a price that is $500 below MSRP, which is what I would expect one to have to pay for this car if I had to guess what they were selling for right now. I based the payment on 15,000 miles per year because Audi Financial Services does not publish residual values for leases with more than 15k miles per year. If you want 18,000 miles per, you would likely have to purchase excess mileage in advance at a rate of $.10 per mile. If you definitely believe that you will drive more than 15,000 miles per year you should purchase some extra miles in advance, because the rate for the A4 jumps to $.15 at lease-end. I believe that Audi Financial Services does allow the residualization of Navigation systems, so if you want that option you should be able to bake it into your lease. If the nav system is added to the car's total at its full price of $1,350 it would increase the monthly lease payment to around $624.

Car_man
Host
Smart Shoppers / FWI Message Boards

michaellno · November 2001

A little out of the ordinary question...

I've got 13 lease payments left on our '99 VW New Beetle GL (at $339/month ... don't ask), with a $10,700 residual value. Total: $15,100 or so.

I called VW Credit this morning for a payoff, and was told $13,500.

Question: why the $1600 discrepancy? I can't imagine this is all prepaid interest, is it? Is it possible to negotiate further with VW to lower the payoff even further?

Any light you could shed on the situation would be most appreciated.

cupholder1 · November 2001

Car Man:

What vehicle models would you say offer the best leasing deals right now? And by best I mean the highest residuals combined with the lowest money factor. From all the numbers I've seen you quote, that would appear to be most VW models. Are there any others I may be overlooking?

im_brentwood · November 2001

Hopefully I have been of some help here. And I will miss you all.

However, Jonah Brown has pretty much made it clear that myself and several others are not wanted here in Town Hall.

So, as such, I am bidding this forum goodbye for the time being. I'll be around, but won't actively post any longer.

If you need me, I can be reached via e-mail at directautogroup@aol.com

Take care guys!

Bill Weismann

beach15 · November 2001

I'd like to know the current leasing figures on the 2002 GMC Envoy and Chevrolet Trailblazer. We're interested in a 36-month 15,000 mile a year lease on either model. Also, with these figures and $1,000-2,000 down, is it at all possible to lease the following vehicle for slightly under $400 a month?:

2002 GMC Envoy SLE 4WD

SLE PREM PACKAGE W/PROFESSIONAL
$1,540.00

TOWING (SD)

REAR CARGO MAT

LOCKING DIFFERENTIAL

LOAD LEVELING SUSPENSION

AM/FM STEREO CASSETTE/CD

CONTENT THEFT ALARM

POWER PASSENGER SEAT

POLISHED ALUMINUM WHEELS

RUNNING BOARDS
$375.00

AM/FM STEREO W/6DISC CD CHANGER
$245.00

(REPLACES STD/OPT PKG RADIO)

POWER SUNROOF
$800.00

HOMELINK

TOTAL OPTIONS
$2,960.00

TOTAL VEHICLE & OPTIONS
$34,130.00
DESTINATION CHARGE
$600.00

___________
TOTAL VEHICLE PRICE* $34,730.00

Actual Selling Price: $31,500

Also, what other similar SUV's in size and price have good lease deals currently, based on 36-month, 15k, and $1,000-2,000 down, for a monthly payment under $400.

Is the desired $400 possible?

CarMan@Edmunds · November 2001

Michaell, Some banks are willing to the negotiate lease-end purchase prices of certain leased vehicles from time to time. This may be the case in this situation. It is difficult to say how willing VW Credit would be to lower the price of your Beetle even more, but it certainly is worth a shot. It never hurts to ask, the worst thing they could do is say no. Good luck, and if you wouldn't mind I would be interested in hearing what there response is.

Car_Man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

That's a good question, cupholder1. Let's see... there are so many vehicles out there. Well, as you mentioned in your post Volkswagens have had pretty attractive leases on them lately. Hondas actually make pretty good vehicles to lease. Even AHFC's standard lease money factors are very low and most of their models have pretty good residual values. Likewise with Acuras. Traditionally Mercedes-Benzs have been good vehicles to lease. When the new C-Class was first introduced it had outrageously high residual values that made leasing one very attractive. MBCC's residual values are still pretty high. Jaguar always has pretty attractive lease programs on certain models. Saab's money factors are almost impossible to beat but their residual values, like those of most General Motors products, leave a little to be desired. Generally speaking, the domestic manufacturers' and the Korean manufacturers' residual values are so low that their lease programs are not very attractive.

Car_Man
Host
Smart Shoppers / FWI Message Boards

shipo · November 2001

Car_Man,

Thanks for your response, I have been doing some research on the two options that you outlined for me and here is what I have found out so far:

1) My dealership is saying that given how low they appraise cars bound for trade-in, it is unlikely at best that they would offer me much above the lease residual.

2) The salesman at my dealership that I talked with did mention that if my car was exceptionally clean, accident free, maintained at the dealership and low in mileage (yes to all), that BMW Finance will sometimes Re-Certify a car and then re-lease it to the person who held the original non-BMW lease. I am not optimistic that the monthly price will make it worth pursuing, time will tell.

3) I have found a leasing company on the internet (PlatinumAutoLeasing.com) that overtly advertises Re-Leasing as their main product for just my situation. I have not yet had the time to check them out.

4) I cannot remember where I found about this last company LeaseBanc.com, however, I have had both E-Mail and phone conversations with them, and they seem very willing to offer me a good deal next spring when my current lease expires.

At this point, I plan on placing an advertisement for my 328i about a month prior to lease termination and see if I can sell it to some lucky soul. Failing that, I will most likely execute a re-lease through LeaseBanc.

Thanks for your help Car_Man, I will keep you posted when the time comes.

Best Regards,
Shipo

gmcomeback · November 2001

Car_Man,

Can you please post the residual and money factor for a 36-month, 12,000 mi./yr. lease on a Chevrolet Trailblazer LS? You do us all a great service. I am sure all of us will agree that you make it a lot easier to figure, and understand leases. Keep up the good work!

Thanks,
M

borsyst · November 2001

Car Man, you recently provided some estimates for 2002 Sequoia SR5 residual values and money factors. Now that November has rolled around, are you aware of any new TFS programs supporting the Sequoia, if so what are the resid value and money factors? Thanks in advance for your help.

egiles · November 2001

Car_Man-

Thank you for your response to my earlier question regarding what I heard about increasing residuals for the November/December term. Have you had a chance to find out what the new lease program is from BMW on the 3 series? I am expecting delivery of my '02 330i at the end of December/first of January and would like to have a good idea of what the lease payment will be.

Thank you once again for all of your help and information that you provide!

Eric Giles

cmzimme · November 2001

I visited our local VW dealer over the last several weeks and have chosen a GLX Passet wagon with everything. This model does not have the CD player but I plan to purchase the 6 CD changer. Sticker is $32925. Dealer said lease has the better deal which corresponds with what I have read lately on this board. They gave me their offer of cap cost, residual, and payment amounts for 12K and 15K. They did not provide the money factor which I worked backwards into based upon the other information provided to me. The 12K factor is .002386 and the 15K factor is .00272. MUCH higher than last months mf based upon previous posts. Are the 11/01 money factors out? I have no problem negotiating the money factor if they are not because I have an idea what I want to pay anyway, however, what other "hiddens" do I need to be aware of? I asked twice last night if there were additional fees and charges and the dealer said no twice. They do want first and last months payments at drive off which I am not going to do. I will be OK with one but not two. Any suggestions will be helpful. Thanks in advance.

CarMan@Edmunds · November 2001

Hi Beach. Here is a sample lease payment for the truck that you're interested in. GMAC's lease program for this truck varies depending upon what part of the country you are in. I will calculate your lease payment using their lowest lease rate, but keep in mind that your payment will be higher if you live in an area that doesn't have the enhanced rates. If you were to lease a 2002 GMC Envoy SLE 4WD with the options that you described and with a selling price of $31,500 for 3 years with 15,000 miles per through GMAC you would have a zero down pre-tax monthly lease payment of right around $442. If you were to make a $1,000 down payment on this lease, it would lower your monthly payment to around $412 and a $2,000 down payment would lower it to around $383. Keep in mind though that if you make a down payment on a lease and your vehicle is stolen and never recovered or totaled in an accident that down payment essentially disappears. Also, down payments on leases have no effect upon your vehicle's lease-end purchase price. Given all of the variables that go into calculating a lease payment and how often they change, it is difficult for one to estimate monthly lease payments off of the top of their head. Still, if I had to guess I would say that other trucks similar that would have lease payments in your desired range might include the Nissan Pathfinder, Ford Explorer, and Toyota 4Runner.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

Thanks for the additional information, Shipo. I am not all that familiar with either of the banks that you mentioned re-leasing your car through. I would be very interested to hear how everything turns out if that is the avenue that you decide to take at lease-end.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

Greetings M. I am glad that I help make leasing a little less confusing for everyone who visits this discussion, after all that's what Edmunds is all about. I would be happy to fill you in on the details of GMAC's lease program for the 2002 Trailblazer. Unfortunately, there are two different programs that I have seen for this truck right now, which vary depending upon the part of the country that you are in. The better of the two lease programs provides a 3 year lease rate of 3.3% and the less supported program provides a rate of 6.0%. Both have a 3 year 12,000 miles per residual value of 55% for this truck.

Car_man
Host
Smart Shoppers / FIW Message Boards

CarMan@Edmunds · November 2001

Hi again, borsyst. Well, I have heard that Toyota is not providing any sort of lease support on the Sequoia this month and that Toyota Financial Services continued their standard lease money factor of .00270. I still haven't seen the exact residual value for this truck yet, but suspect that its November residual has to be close to the 61% that was available on it last month. Perhaps it is a point or two lower at most.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

You're welcome, Eric. For the month of November, BMW Financial Services lowered its lease money factors on the 330i, its base 3 year factor should now be .00260. The corresponding 15,000 miles per year residual value for this car should be 60%. I am sorry to say that this lease program is only scheduled to run through November 30th, so it probably will not be in effect when you take delivery of your new car. However, I personally believe that if anything the program on this car will probably only get better over the next couple of months so you really don't have much to worry about. The current program will at least give you a decent idea of what your payments will be like.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · November 2001

Cmzimme, for the month of November, VW Credit lowered the base lease money factor on the 2002 Passat to .00225 for all lease terms up to 36 months. The factors for this car should be the same for both 12,000 and 15,000 miles per year leases. As far as what should be due at lease signing goes, unless they are running some sort of special promotion all banks require their lessees to pay their vehicle's first month's payment, security deposit, and acquisition fee at lease signing. VW Credit's acquisition fee is currently $490. In some states in lieu of the acquisition fee, also known as a bank fee, a non-refundable last month's lease payment will be collected at lease signing. Generally speaking, this is not negotiable, but the acquisition fee can often be rolled into a vehicle's capitalized cost.

Car_man
Host
Smart Shoppers / FWI Message Boards

Lease Questions - Ask Here

Comments

Helpful Tools

Most popular vehicles