Tzohio, if this truck has already been titled as a new vehicle and you are buying it used it definitely does not qualify for Toyota Financial Services' new vehicle lease program. In fact it probably does not qualify for any bank's new vehicle lease program. Furthermore, you need to be very careful about purchasing a Canadian vehicle here in the U.S. I do not know what Toyota's specific policy on this matter is, but many manufacturers will not honor the warranties of Canadian vehicles that are imported to the United States. Furthermore, this truck will likely have a speedometer that provides information in Kilometers. If you wish to change its speedometer to a conventional U.S. Highlander spedo this truck will likely be branded TMU (true mileage unknown). This will have a tremendously negative impact on its future resale value. I personally do not see how you could lease this truck and am sorry to say that I have no idea what the residual values or lease rates should be like in this particular situation.
No problem, baseballmom94. I am glad that I was able to help you out.
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P.S. I just saw your last post on this subject. It sounds to me as though the dealership that you are working with is marking up this truck's lease rate. If they are not willing to let you lease this truck through them using GMAC's base rate, then it may be in your best interest to comparison shop at a couple of other GM dealers in your area. I am not necessarily saying that you should forget about dealing with this dealership, because it is important to look at this deal as a whole (the truck's price and the interest rate). Ideally, you are looking for a dealer that will sell you the truck for a similar price and allow you to use the base lease rate.
Thank you for your quick response on the Yukon lease rate. Earlier today I mentioned to the leasing fellow at the dealership that I understood the GMAC rate to be 6.5 %. He said the best he had was the 7.35%. Any ideas on how I can be more specific with the dealership about the fact that the rate should be 6.5%?? I want to say "Car-Man said it should be 6.5!" but I'm not sure how well that will go over!!! Do the rates vary depending on the region or should I definitely be going for that 6.5?? Thank you again for your patience.
Yes, I agree that I don't know how the average customer can figure out what these money factors and residuals are "supposed" to be. For instance, on a Yukon lease, the GMC dealer is quoting me 7.5% money factor rate, got him to decrease it to 7.35%, but Car-Man says GMAC rates are supposed to be 6.5%. How else would we know what the true GMAC rate really is? I called GMAC and they would not give the money factor lease rate out over the phone...said that I had to get it from the dealer.
So how do we convince the dealer finance dept. that we know what the base rate is really supposed to be??? Any advice, Car-Man or anyone??
Why beat around the bush? Why not just flat out ask them how much they are marking up the GMAC money Factor? Or tell them that you won't accept any dealer markup; that you want the true GMAC money factor. The fact that they've already agreed to lower it from where they started proves that they are marking it up.
What a great board! I am joining in for the first time.
I keep reading here that X5 3.0 money factors are .0019 but I was just quoted .0022 and told this was the buy rate (by 2 dealers). Lease term 36 months, 12,000 miles per year. What am I missing?
Car_Man, thank you for the information and advice regarding leasing a "used" Canadiian vehicle. It's sounds like I should stay away from it.
The central Ohio delaership is advertising the leases of the used Highander in the local paper. They're offering about $3000.00 off of the sticker price of an "equivalent" US vehichle, but it's difficult to do a meaningful comparision. Bottomline is that the are offering a 28,995 MSRP for 25,995 for $369 and $399 on 39 and 48 month leases, repsectively.
Baseballmom94, I have seen GM's new incentives and lease programs for a number of regions. With the introduction of the $2,002 bonus cash General Motors actually did away with most of the regional variation that existed in its programs. In fact, there really is not much variation between models within each region. Almost every GM car and truck has a base GMAC lease rate of 6.5% for the term that you are interested in at this time. Rather than continuing to beat a dead horse at the dealership that you are dealing with, you might want to shop around a little bit at a couple of other dealerships in your area. By doing so, even if you still want to lease through the dealership that you are dealing with right now you can at least tell them XYZ Pontiac-GMC down the road quoted me a X% lease rate and $X for a similar truck but I wanted to give you an opportunity to match them because I have enjoyed working with you, or something like that.
You're welcome, haplology. I am glad that you enjoy this Message Board so much. Here is the information that you are looking for. If you were to lease a 2002 X5 3.0 through BMW Financial Services for 3 years with 12,000 miles per right now the base lease money factor and residual value should be .00205 and 65%, respectively. If you were to lease a 2002 X5 4.4 using the same parameters, the numbers would be .00230 and 63%, respectively. The 10,000 miles per year residual values for these trucks should be 1% higher than the ones that I mentioned. If you were to lease a 2002 Lexus LX 470 (without navigation) through Lexus Financial Services for 3 years with 12,000 miles per at this time the base lease money factor and residual value should be .00260 and 52%, respectively. Lastly, if you were to lease a 2002 Cadillac Escalade 2WD through General Motors Acceptance Corp. for 3 years with 12,000 miles per the current base lease rate and residual value should be 5.5% and 51%, respectively.
Autobroker, the base lease money factor for this vehicle was .00190 last month, but it has increased slightly to .00205 this month. The dealers that quoted you a higher buy rate are trying to make additional profit by marking up your factor.
Thanks once again for your good advice. I'll shop around. If I end up ordering a Yukon, I may be back in several weeks to see if any rates have changed on this vehicle. Thanks so much!
All right, Car-Man, it took me all of 5 minutes to get a local dealer to quote me the 6.5% lease rate on a Yukon. The reason I was "beating a dead horse" with the out-of-town dealership was that they seem very straight-forward with price ($49 above invoice). So they're trying to make their money on the back end...
Now the trick will be getting the Yukon I want before the $2002 rebate expires! With GM taking off for the holidays, the timeframe to order is much longer now. Thanks again for setting me on the right track!
How come this person got so screwed? This story caught my eye, because of a recent lease that I sold. I had a leased 98 VW Jetta which had a payoff of $10,200. I advertised the car in Autotrader for $12,700, after a week or so, I got a person to buy it off me for $12,500. The person wrote the ckeck to VW for the $10,200 and a separate one to me for the difference. When the title came (a week later)to me, we both went to DMV and did the transfer, and he paid the taxes there and then, but only once. I never mentioned to VW that I was selling the car to a third party, and never went to a dealership to do the transaction. Here is what i did though, I dropped off the car at his home the day that he gave me the cashiers check to send to VW and agreed that he would give me the difference once we met at DMV to do the transfer of ownership, which is fair enough after all the guy was given me a $10K check. So what i did next was just kept the keys to the car(we did this to avoid going through the bill of sales method and having a notary of public sign it, I guess it was more of a mutual trust between us, but I would recommend to just do a bill of sales between both parties, which promises, that as soon as the pink slip arrives, that you will both go to DMV and have the transfer of ownership done, after all the third party needs something in writing to make sure that when they give you the cashier's check for the payoff amount, that you won't just keep the car for yourself). When the title arrived at my house, I notified him and we met at DMV to do the transaction. I gave him the keys to the car, and he gave me the rest of the check (the difference), and just like that the car was sold. It was no big deal. My question is, why even bother telling Nissan or VW that you are going to sell the car to a 3rd party? why not just have the third party write the check directly to them for the payoff?
I have just taken over the lease on a 2001 vehicle.
The original lessee took a 36 mo. term but wanted out of the car after 7 months. At lease inception she paid all of the sales/use tax upfront (approx $1300). I have assumed the lease w/ 29 payments to go and was wondering if I will have to pay any tax when I go to register the car in my name?
We are both in New York State. Does anyone have any experience w/ this?
Carman, can you please provide residuals and money factors for the following. I am planning to buy anytime between now and April, so if you think better deals are in store in the next couple of months, please let me know.
Thank you for answering my question on the other board. You mentioned that both Accord and Maxima have some subsidized interest rates. Coud you please let me know what the terms are for both Honda Accord EX V6 and Maxima GLE, both 36months 15000 miles/year.
What is the money factor on this vehicle (the P and the S model) for a 4 year lease with 12k miles per year? Can I use the $4000 incentive on the lease? If Mazda provide lease support can I use the $4000 incentive?
Can you also tell me the money factor on the 626 ES V6 on a 4 year lease with 12k miles per year? Can I use the $2500 customer cash on the lease?
Car Man - I was thinking about going out tomorrow after work and looking at the Acura TL Type S, and I realize that I've already asked you for the residual of an Acura TL Type S and its money factor, but last time I inquired about this, you still hadn't received the updated numbers.
Since I'm going shopping tomorrow, I was wondering if you had them yet. Not that important since I'm not buying tomorrow, but still curious. Thanks!
I will have to order my new BMW 325i or 330i at the end of January, as the lease on my 99 323i expires on 4/3/02. I want to lease for 36 months w/30,000 miles, with out-of-pocket payment minimized as much as possible.
In addition to the above posted, I guess that MSRP can be used as a selling price, so I will then know what would be the not inflated/deflated lease quote, from which then I will try to go down as much as possible.
Furthermore, I believe that I will opt to pay multiple security deposits, so any information about how much they lower the price will be helpful. I was told that BMW allows up to 9 fully refundable security deposits to be paid when leasing, and I have heard that the savings can be pretty significant, about 40% on the "investment" of all 9 security deposits. I believe that this is a very good return, especially nowadays when bank/investment rates are so low.
Of course, I appreciate any other tips that may lower the lease price.
Please let me know. I will certainly use these numbers to help me to negotiate the deal.
Thanks for the info re the January money factors for the X5 3.0. Was able to get the payments down to the buy rate of .00205 by putting down a security deposit.
You're welcome, baseballmom94. I am glad that I was able to help you out. It seems to me as consumers become more educated today through being able to communicate with others in forums like the Town Hall and by finding out invoice and incentives information on the Web, dealerships are more inclined to try to make up some of the gross that they are losing on deals by marking up lease rates. I am sure that this went on in the past, too, but I see it all the time now.
Yes, Mazda does currently have $4,000 dealer cash on the 2002 Millennia. Whether or not this cash can be used on leases is a good question. I do not know for certain, but if I had to make an educated guess I would say that it probably can not be used to reduce the capitalized cost of leased vehicles. I say this because the lease money factors for many Mazda Millennia lease terms are already equivalent to interest rates of less than 1%. Allowing consumers to combine these extremely low rates with thousands of dollars in cash support would be extremely expensive for Mazda.
I have been able to get a hold of the RAV4 information that you were looking for, tgif888. I do not believe that Toyota currently has any sort of cash or lease money factor support available on the 2002 RAV4 this month. So if you were to lease one through Toyota Financial Services for 3 or 4 years the lease money factor should be around .00280 and the 15,000 miles per year residual values should be 61% and 54%, respectively, for models with 4WD.
Ubrsf, it certainly sounds as though you did a very good job at selling your leased vehicle on your own. You are right, the way that you went about doing this seems to work well, but as you mentioned in your post, you and the individual who purchased your vehicle trusted each other. Many people out there are lest trusting of others, and sometimes rightfully so. I definitely can see the merits of conducting this sort of transaction the way that you did though.
Welcome to the Finance, Warranty, and Insurance Message Board, lalakrsfan. I am glad that you enjoy reading the posts here so much. I would be more than happy to give you an idea of what the lease programs for the vehicles that you are interested in should be like at this time. Unfortunately, given the number of variables that enter into the used vehicle leasing equation, I personally do not keep tabs on used vehicle lease programs. I can tell you that BMW is one of the few manufacturers that actually provides a decent amount of support from time to time on certified used vehicle leases. Whether or not the two models that you are interested in leasing have good programs available on them at this time is difficult to say. I suggest that you find out exactly how much it is going to cost you to lease both of these cars and then compare the cost with that of leasing similar brand new models. Oftentimes the difference is not as great as one would think. As far as the Infiniti QX4 goes, you mentioned that you are interested in leasing this truck for either 36 or 48 months. Since you are looking at longer lease terms, you are probably better off leasing the QX4 through Chase Automotive Finance rather than Infiniti Financial Services. Chase has an agreement with Infiniti that allows them to provide very attractive money factors on longer lease terms. Right now you can lease a 2002 Infiniti QX4 4x4 through Chase for 39 months (15,000 miles per year) using a base lease money factor and residual value of .00150 and 52%, respectively. The numbers for a 48 month lease of this truck would be .00205 and 47%, respectively. It is difficult to say for certain what the future holds for this truck's lease program, but I personally do not foresee any major enhancements to its lease program between now and April.
No problem, cynic. If you were to lease a 2002 Honda Accord through American Honda Finance Corp. this month, all lease terms of up to 39 months in length are eligible for a base money factor of .00100. Also, the 3 year 15,000 miles per residual value for a 2002 Accord EX V6 should presently be 57%. If you were to lease a 2002 Nissan Maxima GLE through Nissan Motor Acceptance Corp. right now for 3 years with 15,000 miles per, the base lease money factor and residual value should be .00244 and 54%, respectively. Even though the Maxima does not have as attractive a money factor as the Accord, the Maxima also has $525 lease cash available on it to help make its lease payments more reasonable.
Can you please provide the money factor, residual, any incentives or rebates and the approximate monthly payment on a 3yr/36 month lease in the NJ/NY/CT tri-state area for the following:
2002; 4 Dr/4 WD Grand Cherokee Laredo; 4.0 v6; Cloth Seats; AM/FM Radio with CD; Trailer Tow Group; Alarm System with Keyless Entry.
Can you tell me what the residual percentage and money factor are for a 2002 VW Passat V6 4Motion AWD with the cold weather, leather and luxury options, for 36 - 39 months and 12k - 15k miles per year?
Hi again, tgif888. As I mentioned in an earlier post to you, I am not positive but I do not believe that Mazda's $4,000 dealer cash on the 2002 Millennia can be combined with its special lease program. The current 48 month lease money factors for the 2002 Millennia Premium & Millennia S are .00124 and .00147, respectively. The corresponding 12,000 miles per year residual values for these models are 40% and 39%, respectively. As far as the 2002 626 ES V6 goes, the 4 year 12,000 miles per money factor and residual are .00190 and 41%, respectively. Again, I am not absolutely positive but I do not believe that the consumer cash that is available on this model may be used in conjunction with the special lease program.
Hi Dave. I have had an opportunity to find out the details of the current Acura TL lease program for you. If you were to lease a 2002 Acura TL S (without navigation) through American Honda Finance Corp. right now for 3 years with 15,000 miles per, the base lease money factor and residual value should be .00225 and 60%. Please feel free to let me know if you have any other questions.
Good morning, Sarah. Before I provide you with the information that you are looking for, I think that you should know that Ford's current incentives and lease programs are only scheduled to run through January 14th. If you plan on taking delivery of your new Explorer prior to that date, please let me know and I will get you information on its current lease program ASAP. If not, then please check back with me a day or two after their new program is introduced and I will give you an idea as to what you can expect its lease parameters to be like.
Thanks for letting me know what part of the country you are in, hooops. DaimlerChrysler's lease program for Jeeps can vary quite a bit depending upon where one lives. If you were to lease a 2002 Jeep Grand Cherokee Laredo for 3 years with 12,000 miles per through Chrysler Financial in your area right now, the base lease money factor should be .00145. I haven't seen the residual values for this truck yet, but should have them early next week. As far as the cash incentives on this model go, there should be $1,000 lease cash in your area that may be used in conjunction with the special lease money factor. Also, if you are getting a 2002 Grand Cherokee Laredo with the V8 engine there is additional dealer cash of $1,000 on V8 2WD and $750 on V8 4WD models. In addition to all of these offers there also is $1,000 owner loyalty cash on this truck. Please check back with me early next week for an approximate lease payment for this truck. Talk to you then.
Hello Mark. If you were to lease a 2002 Volkswagen Passat GLS V6 4Motion through VW Credit for 36 or 39 months at this time, the base lease money factors should be .00200 and .00225, respectively. The corresponding 15,000 miles per year residual values should be 55% and 53% and the corresponding 12,000 miles per year residual values should be 57% and 55%.
thanks Car_man. I was actually asking for a friend (I would NEVER buy an Explorer. I LOVE my new Jetta too much!) because she's working with a guy whose business it is to buy and lease cars to people. He's some sort of banker and he is telling her a story that sounds too good to be true, at least to me. I was trying to get some numbers for her so she could calculate on her own. I'll check back in a few days.
How can I go about finding the residuals and base lease money factor for a new VW Jetta? I have been searching and asking all over and no one wants to help with this info. Also, is there a way to find out, in advance, the fees (I am aware of the aqui. fee and disp. fee)?
Can you help me with a bit of information on my previous post (thanks sarah233): How can I go about finding the residuals and base lease money factor for a new VW Jetta? I have been searching and asking all over and no one wants to help with this info. Also, is there a way to find out, in advance, the fees (I am aware of the aqui. fee and disp. fee)?
Also, here's a little bit more information: the lease is a 12k/mile, 36 month lease, and I'm leasing within Illinois. When negotiating, do you negotiate from the invoice with the destination price included or not?
nice choice with a jetta. i recently (end of November) leased a 2002 1.8t manual transmission with everything on it. really nice car, and so fun to drive! good luck.
This will come in very handy when I shop for the TL Type S without Navi. Thanks again for the response.
But one more question :-) ....what would a 24 month plan be like in terms of residual and money factor.
I'm most likely going with the 36 month plan given the lower payments, but I'm still a little curious about what a 24 month plan would look like. Anyway, thanks again!
Sara, I'm actually torn between the GLS 2.0 and the 1.8T. What kind of deal did you get with your jetta? I got a quote for $150 over invoice for the 2.0, but the dealer tacked on an extra $317 to the invoice price calling it "other manufacturer charges". So, the actual invoice he quoted was: $16312 $550 (dest) $317
I have yet to find out what these "other" manuf. charges consist of.
Could you please let me know what the current lease numbers are for the 2002 Envoy SLT and 2002 ML320? 36 months, 12K and 15K miles. I would also like to know how long the numbers are good thru.
I went to a dealer this afternoon to negotiate the lease on Honda Accord Ex V6 3years/45k miles. The info you provided on residual value and interest rate was right on target! (The dealer didn't seem to be too happy about it but did confirm it Anyway, everything went smoothly until I was told about the 'assignment fee' (?) apparently, besides the security deposit (which I don't object to Honda also charges the assignment fee of $550 on leases. Is it legitimate?
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P.S. I just saw your last post on this subject. It sounds to me as though the dealership that you are working with is marking up this truck's lease rate. If they are not willing to let you lease this truck through them using GMAC's base rate, then it may be in your best interest to comparison shop at a couple of other GM dealers in your area. I am not necessarily saying that you should forget about dealing with this dealership, because it is important to look at this deal as a whole (the truck's price and the interest rate). Ideally, you are looking for a dealer that will sell you the truck for a similar price and allow you to use the base lease rate.
BMW X5 3.0
BMW X5 4.4
Lexus LX470
Cadillac Escalade 2WD
Thanks again for your help. This board is amazing - don't know how people lease cars without it!
Thanks.
So how do we convince the dealer finance dept. that we know what the base rate is really supposed to be??? Any advice, Car-Man or anyone??
Mark
I keep reading here that X5 3.0 money factors are .0019 but I was just quoted .0022 and told this was the buy rate (by 2 dealers). Lease term 36 months, 12,000 miles per year. What am I missing?
Thanks in advance.
The central Ohio delaership is advertising the leases of the used Highander in the local paper. They're offering about $3000.00 off of the sticker price of an "equivalent" US vehichle, but it's difficult to do a meaningful comparision. Bottomline is that the are offering a 28,995 MSRP for 25,995 for $369 and $399 on 39 and 48 month leases, repsectively.
tom
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Now the trick will be getting the Yukon I want before the $2002 rebate expires! With GM taking off for the holidays, the timeframe to order is much longer now. Thanks again for setting me on the right track!
Did Mazda offer a $4000 incentive on the 02 Millenia? If it has, can I use it on a lease? Thanks.
Thanks.
The original lessee took a 36 mo. term but wanted out of the car after 7 months. At lease inception she paid all of the sales/use tax upfront (approx $1300). I have assumed the lease w/ 29 payments to go and was wondering if I will have to pay any tax when I go to register the car in my name?
We are both in New York State. Does anyone have any experience w/ this?
Thanks in advance.
Carman, can you please provide residuals and money factors for the following. I am planning to buy anytime between now and April, so if you think better deals are in store in the next couple of months, please let me know.
The cars are:
2002 Infiniti QX4 4x4
Term: 36 and 48 months
2001 BMW 330ci (used)
Term: 36 months
2001 BMW 330ci Convertible (Used)
Term: 36 Months
Thanks for your help!
Thank you for answering my question on the other board. You mentioned that both Accord and Maxima have some subsidized interest rates. Coud you please let me know what the terms are for both
Honda Accord EX V6 and Maxima GLE, both 36months 15000 miles/year.
Thanks again!
What is the money factor on this vehicle (the P and the S model) for a 4 year lease with 12k miles per year? Can I use the $4000 incentive on the lease? If Mazda provide lease support can I use the $4000 incentive?
Can you also tell me the money factor on the 626 ES V6 on a 4 year lease with 12k miles per year? Can I use the $2500 customer cash on the lease?
Thanks. Sorry for the long post.
Forgot to mention 15,000 miles per year on each of these.
Thanks!
Since I'm going shopping tomorrow, I was wondering if you had them yet. Not that important since I'm not buying tomorrow, but still curious. Thanks!
Could you give me the money factor and residual on a 2002 Explorer XLS 4D with the sport package? 3 year 15k miles.
Thanks!
In addition to the above posted, I guess that MSRP can be used as a selling price, so I will then know what would be the not inflated/deflated lease quote, from which then I will try to go down as much as possible.
Furthermore, I believe that I will opt to pay multiple security deposits, so any information about how much they lower the price will be helpful. I was told that BMW allows up to 9 fully refundable security deposits to be paid when leasing, and I have heard that the savings can be pretty significant, about 40% on the "investment" of all 9 security deposits. I believe that this is a very good return, especially nowadays when bank/investment rates are so low.
Of course, I appreciate any other tips that may lower the lease price.
Please let me know. I will certainly use these numbers to help me to negotiate the deal.
Thanks in advance.
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Can you please provide the money factor, residual,
any incentives or rebates and the approximate monthly payment on a 3yr/36 month lease in the NJ/NY/CT tri-state area for the following:
2002; 4 Dr/4 WD Grand Cherokee Laredo; 4.0 v6;
Cloth Seats; AM/FM Radio with CD; Trailer Tow Group; Alarm System with Keyless Entry.
Thanks a lot (:
Thanks a million!
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Can you help me with a bit of information on my previous post (thanks sarah233):
How can I go about finding the residuals and base lease money factor for a new VW Jetta? I have been searching and asking all over and no one wants to help with this info. Also, is there a way to find out, in advance, the fees (I am aware of the aqui. fee and disp. fee)?
Also, here's a little bit more information: the lease is a 12k/mile, 36 month lease, and I'm leasing within Illinois. When negotiating, do you negotiate from the invoice with the destination price included or not?
But one more question :-) ....what would a 24 month plan be like in terms of residual and money factor.
I'm most likely going with the 36 month plan given the lower payments, but I'm still a little curious about what a 24 month plan would look like. Anyway, thanks again!
$16312
$550 (dest)
$317
I have yet to find out what these "other" manuf. charges consist of.
Can you please tell me the residuals and money factors on the following vehicles?
1- M3
2- 540i six speed
3- M5
All both 24 & 36 month, and 12K miles p/y
P.S. If BMW financials' rates are not that attractive; is there another bank that may be?
Could you please let me know what the current lease numbers are for the 2002 Envoy SLT and 2002 ML320? 36 months, 12K and 15K miles.
I would also like to know how long the numbers are good thru.
I went to a dealer this afternoon to negotiate the lease on Honda Accord Ex V6 3years/45k miles.
The info you provided on residual value and interest rate was right on target! (The dealer didn't seem to be too happy about it but did confirm it
Thank you in advance!