Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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The lease calculators that many manufacturers provide on their Web sites, seem to provide quotes that are a little higher than what one would get in real life for some reason. Just in case you are interested, here is a sample lease that BMW is actually advertising on this car right now. They are promoting a 3 year 10,000 miles per lease on a 2002 BMW 325i (MSRP: $27,745 and Cap. Cost: $25,651) for $329 per month with $2,500 down. At lease signing, you would be responsible for this car's down payment, first month's payment, a security deposit of $350, and an acquisition fee of $525.
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Thanks for getting back so quickly. Can you confirm that with the extension until April 30 that they are also extending the qualifying period to the end of September? Previously, to qualify, the lease contract had to terminate by end of August 2002. Mine terminates in September which is why I missed out last month. Thanks.
Ken
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Scenario: I'm 41 years old and have never financed or leased a vehicle. I've been fortunate and blessed in this aspect. It's now getting about time to replace my wife's 1998 Suburban with another SUV, so naturally I'm looking at this point in time. This research has lead me to question the viability of purchasing options, especially interested in pros and cons of leasing. BTW, I've read the leasing primer in the "smart shopper" section. My wife generally puts about 12-13K miles/yr. on her vehicle. All of my vehicles are extremely well maintained and well cared for, so I've had no problem selling them privately when the time comes. I guess my question is, given my scenario, if you have the cash to buy a new car outright, would there be any advantages to leasing? TIA.
Mercedes ML 320
Lexus RX 300 AWD
BMW X5 3.0
As always, thanks very much.
Generally they let you just return the car. I hate to sound rude, and I hope it doesnt come out as insensitive..but..
What are they going to do? Sue a person once they have died?
She needs to talk to a supervisor I think...
Bill
Can you please let me know the current MF and residuals for:
BMW 530i, 3 year, 10K/year and 12K/year;
Mercedes E320 3 year, 10K/year and 12K/year.
Thank you,
The contract calls for 2 people .. right ..?
If one doesn't qualify without the other, then the vehicle will go back early. The reason why you aren't getting a "straight" answer is .. this doesn't come up very often. And when it does, most people just carry the vehicle, if they choose to. If the lease is -just- in dads name, they will take it back ..and no, they can't sue the estate. -- most times the lease co. isn't even notified.
Best wishes ..
Terry.
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Many thanks.
Thanks.
The lease offer is from Chase. The MF is .00225. They have a residual of 53%. There is a bank acq. fee of $595. There is a security deposit of $325. I believe the disposition fee is around $325 as well.
Is this a fair deal or should I look elsewhere?
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I need your address so I can send you a Christmas present! Thanks for all the help that you have given me. I've learned a lot. Now, once I have a firm grasp on the information, I'll be prepared to negotiate a lease if that's the way I decide to go. Thanks !
Great forum, long time reader, first time poster(word?). I am looking at leasing a 2002 Saturn Vue for my wife, and I know you are the "Shell Answer Man" of financials. Here are the specifics:
- 2002 Saturn VUE
- $26,448 no haggle sticker price
- 3/36 - 12,000/year lease
- OOP $0( maybe $1,000 )
- Los Angeles, CA.
I am curious of the residual value of the VUE. I recall several years ago looking at a loaded Saturn Wagon; the sticker price was reasonable, so if I was going to purchase it, the pricing/interest rate was fair. But once I got around to talking lease, the residual value of the car was so bad the lease payment was nuts. So I am wondering 1. Residual value of the VUE 2. money factor 3. what would be my monthly payment?
Your help is appreciated!
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Mercedes ML 320
Lexus RX 300 AWD
thanks very much.
I am adding another car to the mix that you are working on already(Audi A4 1.8 quattro sedan, Subaru WRX sedan with automatic, BMW 325XI sedan). Could you give me the money factor and residual value for a new Audi TT quattro coupe with automatic? I anticipate getting one of these cars either in April or May. I know you can only give me April numbers.
While going through my car notes I happened to look at the numbers I used for making my really good deal on the Mercedes E320 4matic you gave me(Dec 01) and aside from getting the car at dealer cost, the money factor number I got from them was even lower than the numbers you had(.00339 vs .00256). However, their residual numbers they gave me were also lower(65% vs 61%) so it balanced out. I still got the car for what I wanted to pay. Your help was really great because it gave me the numbers I needed to make a very satisfactory deal. Thanks again.
What are my chances for neg. w/ the dealership. could they lower the cost for me?
Any help by Car Man, or anyone else who has an opinion, would be greatly appreciated as I hope to buy this weekend.
Could you please provide the residual values and the lease rates for 2002 Maxima GLE and 2002 CL?
Also, am I correct to assume that 2002 Accord values haven't changed since the last month? All leases I am interested in are for 3 years /45k miles.
Thank you very much for your help!
Can you provide the residual values for the Mercedes ML320? I am interested in the numbers for a 3 years/36k miles and 3 years/45k miles terms. Thanks in advance.
Could you please provide money factor and residual for a 2002 Audi 2.7T leased in VA at 15,000 mi/yr for 39 months?
Also, a note of thanks--this is one of the best resources for consumers I have come across in many months!
A $46,560 MSRP Navigator was priced at $40,697, plus $400 of dealer fees. 36month lease with a 49% residual was financed by Ford at 2%. That left me with a $560 (before tax) monthly payment. Ford FS pays the first month so there was no drive-off $ at all.
Hope it helps someone.
It is 2WD right?
Wow. Not only did you got a deal below invoice per Edmunds ( not including the $400 'fees' and 2% of MSRP holdback )my take is that you got a great deal on the financing.
The lease numbers you presented work out in my spreadsheet. The money factor figures out to be .0008333, a good bit lower than other manufacturers MF's at .0025 (which is about 6% )for similar class vehicles.
The discounted interested rate is effectively the same as reducing the cap cost on the Navigator by another $3900 by my math.
Regards
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