Are you a current Michigan-based car shopper? A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/2 for details.
Options

Lease Questions - Ask Here

1…6465676970…468

Comments

  • max27tmax27t Member Posts: 35
    Car_man,

    Sorry to put you through extra work. I guess I was too terse and should have given you more details up front. I thought all A6s in the country would have the same rates.

    I'm interested in a 2002 A6 2.7t tiptronic with the Premium, Preferred Luxury, and Convenience Packages. I am in MN, in what is called the North Central Region, I believe. Since I posted my original question, I received the following info from the dealer.

    At 12K/yr, here are the Money Factors and Residuals I was given for 36, 39, 42, and 48 months.

    Money Factors: .00174, .00169, .00165, and .00178
    Residuals: .52, .50, .49, .46

    How do these compare to what you have, and is there anything else I should be paying attention to?

    It sure is nice having independent confirmation. Thank you for providing this service.
  • joker2108joker2108 Member Posts: 30
    CAR MAN,

    I understand people are saying that the LEXUS factory is not giving any deals on the ES300.
    Ok I agree with that, but my confusion still remains.
    I paid $479 for a 1999 GS300 for a 4 year term with 12k a year. (42,000) If I had purchased it.

    That being said I do not understand why the price of the new Es300 would be at $472??? This car is a 32,000 to 38,0000 purchase.

    So if I paid $479 for a GS300 it would tend to be logic that $420's would be the ES300.

    The GS300 price and style has not changed since 1999.
    Also did I mention I planed to lease the car around August (END of the year sale)
  • im_brentwoodim_brentwood Member Posts: 4,883
    If you want to lease a Lexus... do it in December.
  • gdr2466gdr2466 Member Posts: 3
    Hi Car_Man,

    Thank you for the info on the Jetta's! Could you also help me out on 2 other cars as well? I am interested in the MF and Residual Values on the Saab 9-3 4 door (non-convertible) loaded, as well as the Mazda Millenia "P" model, leasing both for 36 months at 15k miles per year. I live in FL, if that makes a difference. Again, I appreciate your help. : )
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Clpurnell, you sure are interested in a lot of vehicles. You wouldn't be able to narrow down that list a little bit would you? Perhaps this will help, the models on your list that have some form of lease support available on them this month are the Saab 9-3 (a ton of support), Honda Accord, Nissan Altima, Nissan Maxima, VW Jetta, and VW Passat.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, Jerry. Thank you for taking the time to post such a nice message.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, max27t. Audi's regional lease rates are a relatively new phenomenon. They have varied a little bit by region in the past, but never to this extent. If you were to lease a 2002 Audi A6 2.7t through Audi Financial Services this month in the state of Minnesota for the following terms 36, 39, and 48 months, the base lease money factors should be .00060, .00060, and .00080 respectively. I am not sure what their 42 month money factor should be, but it would probably be very similar to the others that I just posted. The 12,000 miles per year residual values for the aforementioned terms should be 54%, 52%, and 48%, respectively.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Joker2108, brentwoodvolvo is right. Lexus usually only provides lease support on its vehicles at the end of the year. It sounds to me as though you leased your GS 300 at a time when they were providing lease money factor support. Also, many banks have taken huge losses over the past couple of years because they had overestimated vehicles' residual values. This has caused many lending institutions to lower the residual values that they use on leases making many vehicles much more expensive to lease today than an equivalent model was several years ago.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, gdr2466. As far as the Saab goes, I assume that you are talking about the 2002 Saab 9-3 5-Door SE Sedan "Hot". If this is the case, and you were to lease one through Saab Financial Services this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00001 (as close to zero as you can get) and 46%, respectively. If you were to lease a 2002 Mazda Millenia Premium through Mazda's captive finance company this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00112 and 45%, respectively. Please note that I believe Mazda is actually providing this special lease on 39 month terms, not 36.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • clpurnellclpurnell Member Posts: 1,083
    Actually you have provided data on some of the autos I think for others I can copy the resids and money factor from them. So could you do these couple I can't find for this month

    Honda Accord EX-V6
    Honda Civic EX
    Toyota Camry LE
    Niissan Altima S
    Nissan Maxima SE

    Thanks again :)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Sure thing, clpurnell. The majority of the major automakers' lease programs expired at the end of February and they all have new programs for the month of March, so if you are scrolling back looking for information just make sure that you aren't looking at last month's program. Here is the information that you are looking for on your revised list of models. Let's start with the 2002 Honda Accord EX V6. If you were to lease this car through American Honda Finance Corp. this month for 3 years with 12,000 miles per the base lease money factor and residual value should be .00125 and 58%, respectively. An identical lease of the 2002 Honda Civic EX through AHFC would have a base factor and residual of .00230 and 59%. A 36 month 12k lease of a 2002 Toyota Camry LE through Toyota Financial Services should have numbers of around .00280 and 58%. A 3 year 36,000 mile lease of a 2002 Nissan Altima 2.5 S through Nissan Motor Acceptance Corp. should have a base factor & residual of .00235 and 53. Lastly, the 2002 Nissan Maxima SE should have a base factor and residual value of .00244 and 53%.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • max27tmax27t Member Posts: 35
    Car_man,

    WOW! There is a little discrepancy between what the dealer told me and what you posted:

    12K mi/yr 36, 39, 42, and 48 month terms

    Dealer reported mf: .00174, .00169, .00165, and .00178
    Car_man reported mf: .00060, .00060, XXXXX, and .00080

    Dealer reported Residuals: .52, .50, .49, .46
    Car_man reported Residuals: .54, .52, .XX, .48

    Am I reading this correctly - an interest rate of 1.44% on the 36 month term?

    I would appreciate any comments you could make, but something sure looks fishy here. I think it is time to talk to another dealer.
  • gdr2466gdr2466 Member Posts: 3
    Hi Car_Man,

    I appreciate all your help, this should be my last question. My lease is up in 2 weeks, so I need to make a decision pretty quick on what car I want.... I noticed that you posted above for clpurnell a MF of .00125 for a Honda Accord EX-V6, would that MF be the same for a Honda Accord EX (4cyl) for 36 months at 12K? And what would be the difference if it was for 36/ 15K miles? You are a valuable asset to Edmunds! Thanks Again!
  • jvvjvv Member Posts: 13
    Car_man:

    Any suggestions on tools or methods for determing the value of lease assumption?

    I've looked at some of these websites and am familiar with the leasing process for new vehicles. What factors are most important in taking over a lease? Clearly the mileage and costs for excess miles would be one. How else does one tell a given lease is a 'good one'?

    As an example, a Lexus GS300 with 39 months left on a 48 month lease at $650. Annual milage allowance of 25,000 (unusual) and good for me as I will use them.

    Thanks in advance!
  • shockwave10shockwave10 Member Posts: 3
    I was looking to lease a Acura MDX touring but every dealer is charging 2 to 3k over sticker. Does anyone know how much the average lease on a X5 3.0 runs. I am willing to come out of pocket 5k. I can only afford to pay about $550 a month for about 36 to 38 months.
  • im_brentwoodim_brentwood Member Posts: 4,883
    What's the current 36 mo Program on the G35?

    Base res... 15k/yr..

    TIA,

    Bill
  • clpurnellclpurnell Member Posts: 1,083
    I appreciate the help you gave me and everyone on the board. Keep up the excellent service.
  • ratpupratpup Member Posts: 1
    Hi Car_Man,
    Why is interest charged on the residual value plus the capitalised cost? I can only make an argument for the capitalised cost as it represents the value of the asset being borrowed.
    Regards, Ratpup
  • max27tmax27t Member Posts: 35
    Ratpup,

    <<Why is interest charged on the residual value plus the capitalised cost? I can only make an argument for the capitalised cost as it represents the value of the asset being borrowed.>>

    Here's an answer until you get your official answer from Car_man.

    It is counter-intuitive that the finance charge should be based on the SUM of the Net Cap Cost and the Residual Value, but this is correct. It might be more palatable to say it is based on the average of the Net Cap Cost and the Residual Value. Of course the average is the SUM of these two figures, divided by 2.

    When you make a payment, part of the payment is to pay down the amount borrowed and part is to cover the interest incurred on the outstanding balance owed.

    If we assume the depreciation is paid evenly over the life of the lease, the finance charge is the annual interest rate times the number of years times the average outstanding balance. The Average Outstanding Balance is the average of the amount borrowed at the beginning (Net Cap Cost) and the amount owed at the end (Residual Value).

    The Total Finance Charge paid over the life of the lease is then

    (Net Cap Cost plus Residual Value)/2 times annual interest rate times the number of years of the lease

    which is also equal to

    (Net Cap Cost plus Residual Value)/2 times monthly interest rate times the number of months of the lease

    As we all know, the monthly interest rate is just the annual interest rate divided by 12, so the Total Finance Charge is:

    (Net Cap Cost plus Residual Value) times annual interest rate/24 times the number of months of the lease

    Therefore the Monthly Finance Charge is = (Net Cap Cost plus Residual Value) times annual interest rate/24

    or

    Monthly Finance Charge is = (Net Cap Cost plus Residual Value) times Money Factor, where the Money Factor is the Annual Interest Rate / 24

    This is the source of the mysterious factor of 24
  • zachsmomzachsmom Member Posts: 5
    I need March money factors and residuals for the following cars please.

    2002 BMW 525

    2002 BMW 3 Series

    2002 Saab 9-5

    2002 Saab 9-3 convertible.

    Thanks much. I am trying to work out the deals to see which one makes the most sense.

    :)
  • joker2108joker2108 Member Posts: 30
    CAR MAn

    Thank you for your quick replys. You are so nice to take the time.

    I plan to get the Es300 around same time at GS300 that is in August. So are you telling me that I have to eat $472 for an ES300?? Man that is hard to do.

    I am waiting to see the new G35 though too.

    Ok So I guess your $472 as a fair price stands

    CAR MAN you would not know where there is a website that LISTS LEASE RATES?

    Again Thank you
  • im_brentwoodim_brentwood Member Posts: 4,883
    If you are wanting a Leux... you may want to enxtend your current lease until Decmber.. when Lexus does special deals on their entire lineup. In 2001 they even discounted the money factor on the SC430 (Why I have no idea..lol).

    Bill
  • automindautomind Member Posts: 8
    Hi Car_Man,

    My friend is thinking about leasing the the 745i. Can you tell me what the MF and the residuals are for this vehicle? 36mo. 15k/yr. Is the new 7 series expected to have better resale value than the previous generation. Thanks for your help.
  • 4thlexus4thlexus Member Posts: 10
    Thank you for answering my questions so promptly. You are a great help to all of us shopping for a new car.

    I think edmunds.com is the best site IMHO. You guys made my last car buying experience (sc430) an enjoyable one.

    Thanks again.
  • troyy2ktroyy2k Member Posts: 91
    I am interested in leasing a Toyota Highlander V6 Limited 4x4 in California. The MSRP for this vehicle is $33,984 and the negotiated selling price is $31,000. What is the residual, money factor, and payments for this car? Is the residual % higher for the "Limited v6 4x4 model" than for the standard v6 4x4 model? Thanks CarMan!
  • joker2108joker2108 Member Posts: 30
    BRENTWOODVOLVO,

    Thank you for taking the time to help me. I e-mailed Car_Man but no reply yet. Guess he is busy.
    I heard that December is too late to get the model LExus you want since most of the good colors ect. are gone by then. It starts in August I heard. I just dont want to pay more than $425 range +tax.

    Brent do you have an e-mail? Mine is Keyboard2108@hotmail.com. ( To The people would would send me junk mail or spam pls don't)
  • bluetranebluetrane Member Posts: 67
    Car_man,

    Do you have the current residuals and MF for a 12K lease on an Audi 1.8T Avant Quattro for 36, 42, and 48 months?

    Thanks in advance!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, gdr2466. Yes, the lease money factor for the Accord that you are interested in would be exactly the same as the any that I posted earlier, assuming that they were for this month. All Honda Accords have the same lease money factors available on them through American Honda Finance Corp. The residual values for the Accord, however, vary slightly by trim level. The 3 year 15,000 miles per residual value for the model that you are interested in is currently 56%.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Jvv, one good way to determine of a lease that you are interested in assuming is a good deal is to compare it to what it would cost to lease a similar brand new model. Why assume a lease on a used vehicle if you could get an identical brand new car for about the same or even a lower monthly payment? Of course the one advantage that assuming a lease provides is a shorter term than new vehicles leases. For instance you may assume the final 12 or 24 months of a lease that was originally a 36 or 48 month contract. Doing so would provide you with the lower payment that a long contract provides, but without the long-term commitment. I would be more than happy to provide you with a sample lease payment for a 2002 GS 300 using this month's lease program if you are interested.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Shockwave10, BMW is currently advertising a sample lease on the 2002 X5 3.0 (MSRP: $39,545 / Cap: $37,223) of $469 per month with $2,500 down for 3 years with 10,000 miles per. You will probably find this information useful to have while shopping for one.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Bill. As you probably are aware, Infiniti uses two banks to provide leases on its vehicles, its captive finance company, Infiniti Financial Services, and Chase. I believe that Infiniti has an arrangement with Chase where they provide them with money to buy down their base money factors. IFS usually offers support on 24 and 36 month leases, while Chase has supported factors on leases of 39 months and up. Interestingly enough, I have not seen either bank's lease program for the G35 yet. They must have announced it after they introduced this month's normal lease program. I suspect that they are not providing any sort of support on it, but do not know what the residuals are like yet. I will check around and see if i can come up with any information for you.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, clpurnell. I am glad that I was able to help you out.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • mquigleymquigley Member Posts: 2
    Carman, Do you have the rates & resid. for 36/39mo, 15K year for a 2002 Nissan Maxima SE, auto? I believe the lease incentive is the same at $525.00, or has this changed? Thanks! MQ
  • rxkerxke Member Posts: 168
    Hi Carman

    You were very helpful before in enabling me to get a really good deal on a 2002 Mercedes e320 4matic. I used your residual info and money factor and was able to figure out what my lease should be. Now I am looking at leasing an A4 1.8 sedan in April or May 2002. I saw an ad for 2.9 financing. What is the money factor and residual on this car?

    Thank you in advance.

    RXKE
  • im_brentwoodim_brentwood Member Posts: 4,883
    Do an '03 in December... Highest residuals...and then they also have the supported rates.

    Market pricing on ESs will be more competitive then, probably your chance to get one for 425/mo.

    Bill
  • im_brentwoodim_brentwood Member Posts: 4,883
    Chase...yup..them and SAAB...

    All I have heard so far is .00200 and 58%...

    Its not even in Lease Link yet or I couldlook it upthat way. My Uncle is about to pull the trigger on one so guess who gets the phone call? :)

    Kick-[non-permissible content removed] car BTW... you should drive one ifn ya get the chance.

    Bill
  • kurbkurb Member Posts: 11
    Carman,

    Full MSRP would be 45,135, and selling price would be 41,672. Thanks
  • mdx88mdx88 Member Posts: 6
    Car Man,
    You were nice enough to supply me with the current .0023 and 62% for a 2002 Acura MDX Tour/Nav, 12,000 miles, 36 months. The best I have been quoted at several Acura dealers (and leasecompare.com) is .0027 and 61%. This is before checking my credit, which is A+. Where else can I go to get near your numbers (aside from Acura dealers)?. Most banks in my area (Boston) are not in the auto leasing business anymore. Any suggestions? Thanks.
  • gperrgperr Member Posts: 163
    Car_man,

    A friend is looking to purchase either a Toyota Highlander or a Nissan Pathfinder. A little help with the Residuals and MF would be wonderful.

    Pathfinder SE (4x4)
    Pathfinder LE (4x4)
    Highlander V6 (4x4)
    24months - 39 months
    10K and 12K

    Thanks again

    Gregg
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi zachsmom. I would be more than happy to give you an idea of what the lease programs should currently be like on the cars that you are interested in. However, since lease money factors and residual values will vary significantly depending upon how long your lease contract is and how many miles per year you wish to be able to drive without incurring a lease-end penalty it would be a big help if you would provide me with those two pieces of information first. Talk to you soon.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, joker2108. It is difficult to say what the lease program for the 2002 ES 300 will be like in August of this year. Whether or not Lexus is offering any sort of support on this car then will depend upon how well it is selling at the time. If I had to guess, I would say that they probably will not be offering any sort of lease money factor support on this model at that time, but it is impossible to say for certain right now what they will do that far down the road. If they do not introduce any support on this car, it is entirely possible that it will have a higher monthly lease payment associated with it in August because its residual values will drop between now and then. I am sorry to say that this is what this car is leasing for at this time, so if you want one that is the price that you are going to have to pay.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • dsinsocaldsinsocal Member Posts: 9
    Hi Car_man. I'm just curious what the lease numbers look like now that it's March.

    BMW 330Ci, 36 months, 12k miles.

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello automind. Interestingly enough, the residual values for the redesigned 7-Series are actually not as strong as I had expected them to be. If you were to lease a 2002 745i through BMW Financial Services right now for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00220 and 61%, respectively.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, 4thlexus. I am glad that you like visiting Edmunds.com so much. Enjoy your sweet new car!

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Troyy2k, I do not believe that Toyota is providing lease support on the 2002 Highlander in any of its regions this month. So if you were to lease one through Toyota Financial Services at this time, you would have to use their standard lease money factor. I believe that the TFS base standard money factor is currently .00280 for all terms. I would be more than happy to give you an idea of what the residual values for this truck would be like right now and even calculate a sample lease payment on one for you, but I am going to need two important pieces of information from you first, how long you want to lease this truck for and the number of miles per year that you will need. Once I have that additional information I will answer the rest of your questions. Talk to you soon.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Good morning, bluetrane. Here is the information that you are looking for. This month Audi has a lot of regional variation in its lease program, so I took the liberty of checking your profile to see which state you live in. If you were to lease a 2002 Audi 1.8T Avant Quattro where you live through Audi Financial Services for 3 years with 12,000 miles per, their base lease money factor and residual value should be .00235 and 59%, respectively. The numbers for an otherwise identical 48 month lease of this vehicle should be .00245 and 52%, respectively. I have not seen the 42 month numbers for a lease of this vehicle, but the 39 month numbers are .00235 and 57%. I hope that this information helps you out in your search for a new vehicle. If you think of any other questions, please don't hesitate to ask.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You are correct, mquigley. Nissan still has $525 lease cash available on the 2002 Maxima this month. As far as the month factors and residual values for this car go, if you were to lease a 2002 Maxima SE through Nissan Motor Acceptance Corp. in March for 3 years with 15,000 miles per, their base factor and resid should be .00244 and 52%, respectively. The 39 month factor would be exactly the same, but the residual value would be 51%.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I am glad to hear that things worked out so well with your previous lease, rxke. Unfortunately, Audi issues a new lease program every month so the lease money factor and residual value that they have available on this car in March will most likely be different than the ones that are available on it in April and May. I still would be more than happy to provide you with this month's data if you would like, just to give you an idea what their future lease program will approximately be like, but you will need to check with me during the month that you actually plan on getting this car for accurate information. Please let me know if you still want this month's info.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, kurb. Let's see, according to my calculations, if you were to lease a 2002 Toyota Sequoia Limited 4WD this month using the Toyota Financial Services base lease money factor for 3 years with 15,000 miles per you should have a zero down, pre-tax monthly lease payment of around $666. The 39 month payment would drop slightly to $639 or so.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Mdx88, the information that I provided you with is AHFC's base lease program. You will not be able to use the same money factor and residual value that I posted through a different bank. All banks that lease vehicles issue their own money factors and residual values. As you have noticed, many of the independent banks have dropped out of the automotive leasing business altogether. It is difficult for individual consumers to beat a captive finance company's lease program by finding a bank to lease through on their own. There are independent banks out there that often have better programs than captive finance companies' unsupported programs, but they are difficult to find without a computer system like the ones that many dealerships have access to. I am not surprised that many of the dealerships that you have shopped at are trying to mark up AHFC's base lease program for the MDX. This truck is in such short supply and high demand right now that they can do so and not have to worry about losing any business. These trucks are even selling for above full MSRP in many instances. The best thing that you can do is shop around at a bunch of Acura dealerships to see if any of them would be willing to lease you this truck using AHFC's base lease program. If not, then unfortunately that is what the market dictates for this model in your area at this time.

    Car_man
    Host
    Smart Shoppers / FWI Message Boards
This discussion has been closed.

Helpful Tools

Most popular vehicles