Lease Questions - Ask Here

CarMan@Edmunds · April 2002

Thanks for the information, nosinnot. It is always helpful for people who are in the market for a particular vehicle to be able to take a look at real life examples of what sort of deals people have been able to negotiate on it. Enjoy your new truck!

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rxke · April 2002

Hi Car Man

Here is the additional info you needed. I live in Westchester county in NY. We would be leasing the Audi quattro TT coupe or possibly an A4 quattro sedan(1.8) for 36 or 39 months with 12000 miles or 15000 miles. I am also looking at the Subaru WRX sedan(automatic)with the same requirments. Thanks again for your help.

rxke · April 2002

Hi Car Man

Could you also add the BMW 325xi to my request for the Audis and the Subaru(NY, 12000-15000 miles, 36 or 39 months)

Thanks again

skobola · April 2002

Car_man and rlowrie, BMW allows one to put up to 9 security deposits, where every sec. deposit decreases the MF for 0.0001. This means that a maximum discount would be 0.0009 (or 2.16%). I just had deposited 9 sec. deposits for my new 2002 325i, and it reduced the lease from $395 to $355 (all numbers are w/o tax), which will save me about $1,500 in 3 years, or about 42% on the "investment" of $3,600 (i.e., 9 sec. deposits). I see it as a very good return, especially nowadays when the bank rates are low.
I hope that this will help you.

postnobills · April 2002

Car_Man:
Please provide current lease rates/residuals on an Infiniti Q45 at 15,000 miles for 24 or 36 months. Thanks!

lonestar98 · April 2002

thanks car man, i figured that the acq. fee was not negotiable, but i wanted to make sure. as a side note, folks might be interested to hear the details of my wrx sedan: the first dealership quoted $350 over the invoice, but the car didn't have all the equipment i wanted. the next dealership agreed to $200 over and had the sedan i wanted. 36 mo/15k yr. 53 % res. .00225 mf. 595 acq fee. 375 sec dep. and ~$325 disposition fee (don't have the contract in front of me). well...i hope i did okay :-) thanks for all your help!

CarMan@Edmunds · April 2002

Thanks for the additional information, rxke. If you were to lease a 2002 Audi TT 225 quattro Coupe in your home state for 3 years with 15,000 miles per the Audi Financial Services base lease money factor and residual value should be .00200 and 59%, respectively. The 12,000 miles per year residual value would increase to 61%. As far as the 2002 Audi A4 1.8T Sedan quattro goes, its AFS April numbers should be .00245 and 58%, respectively. The 12,000 miles per residual would increase to 60%. I still haven't seen Subaru's lease information for this month though, so I can not give you an idea of that the WRX lease program should look like yet.

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CarMan@Edmunds · April 2002

Rxke, I guess that will teach me to answer a question without scrolling down first

. OK, let's take a look at the lease program for this car. If you were to lease a 2002 BMW 325xi through BMW Financial Services this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00220 and 59%, respectively. The 12,000 miles per year residual value would increase to 61%.

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CarMan@Edmunds · April 2002

Thanks for the details, skobola!

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CarMan@Edmunds · April 2002

Good morning, postnobills. If you were to lease a 2002 Infiniti Q45 through Infiniti Financial Services this month for 2 years with 15,000 miles per, their base lease money factor and residual value should be .00219 and 65%, respectively. The 36 month numbers should be .00219 and 56%, respectively. The numbers for the 2002 Q45 Premium are different than the ones that I posted above, so please let me know if this is the model that you are interested in.

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CarMan@Edmunds · April 2002

You're welcome, lonestar98. Thank you for the information on the WRX lease.

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joestein · April 2002

Carman,

My father wants to lease a 2002 Lincoln Continental (I can't imagine why he would want to, but that is his decision).

He currently has an Lincoln LS that comes due in September. Can he lease the new Lincoln now without being penalized for the last 6 months?

Also, What would be the money factor and residual on a 3 yr/36,000 mile lease? He is in the NYC area.

In addition,

I know that Ford is starting to put incentives on the escape. What would be the money factor and residual on a 3 yr/36,000 mile Ford Escape lease in NJ (Monouth County)?

Thanks for your help.

bamafan2 · April 2002

Hi Car Man,

Can you tell me the current residual and money factor for a 2002 Audi A4 1.8t (non-quattro). The term would be 36months / 12,000 miles per year and I live in Birmingham, Alabama.

Thanks!

multiplechoice · April 2002

I think that leasing a lincoln continental is not a good idea. That vehicle has poor resale value (=low residual value) this would inflate the monthly lease payment. If he really wants to get a lincoln, he should consider a cpo vehicle, where someone else has taken the "hit" on the depreciation.

pluto5 · April 2002

Most residuals are declining because there's a glut of off lease vehicles.

rabidsquirrel · April 2002

Hi CarMan,

I know a user provided his lease's terms for the WRX, but I'd like to see the most recent residuals and money factors on a 2002 Subaru Imprezza WRX sedan with manual tranny versus the residual on an '02 Acura RSX Type S. Both 3 year, 12k/year, and I live in Dallas, Texas. Thanks in advance!

cynic · April 2002

Hi Car_man,

Could you please provide lease terms for 3years/45k miles?

Thanks!

ogbuffguy · April 2002

hi, i would like to know if your credit score also effects the lease rates???? TIA

CarMan@Edmunds · April 2002

Good morning, joestein. Both General Motors and DaimlerChrysler have run programs recently that allow their lease customers to break their contracts several months early free of charge if they purchase or lease a new vehicle from their product lineups. However, Ford Motor Company is not currently running such a program. As a result, I personally believe that it will be relatively expensive for your father to get out of his current lease six months early to get a new vehicle. He will either have to pay the remaining six monthly lease payments without the benefit of driving the vehicle, or attempt to trade it in if the dealer that he is working with is willing to give him an allowance that is close to his lease-end purchase price for it (this is highly unlikely). Your father's least expensive option is to continue driving his LS until August or September, unless Ford follows the other domestic manufacturers by introducing an early lease termination program between now and then. As far as the specific numbers for this car go, I would be more than happy to fill you in on what they should be like in your area. However, Ford just introduced their April incentives program yesterday and I have not had an opportunity to take a look at Lincoln's new lease program yet. Please feel free to check back with me in a few days. By then I should have been able to take a look at the information that you are searching for.

You are correct, Ford recently began providing cash incentives on the Escape. They now are offering $1,000 lease cash on the 2002 Escape in your area which may be used to reduce this truck's capitalized cost. They are not being nearly as generous with the lease rates for this model though. If you were to lease a 2002 Escape this month through Ford Motor Credit for 3 years with 12,000 miles per, their base lease rate and residual value should be 9.50% and between 44% and 47% depending upon what trim level you want.

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CarMan@Edmunds · April 2002

Hi bamafan2. Thanks for letting me know what state you are in. Here is the information that you are looking for. If you were to lease a 2002 Audi A4 1.8t non-quattro through Audi Financial Services in Alabama this month for 3 years with 12,000 miles per, their base lease money factor and residual value should be .00245 and 57%, respectively.

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CarMan@Edmunds · April 2002

Hi rabidsquirrel. I still haven't seen Subaru's specific lease information, yet, but I would be more than happy to give you an idea of what the lease program should be like for the 2002 Acura RSX right now. If you were to lease a 2002 Acura RSX this month through American Honda Finance Corp. for 3 years with 12,000 miles per, the base lease money factor and residual value should be .00240 and 61%, respectively.

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CarMan@Edmunds · April 2002

Hi again cynic. Here is the information that you're looking for. If you were to lease a 2002 Acura CL this month through American Honda Finance Corp. for 3 years with 15,000 miles per, the base lease money factor and residual value should be .00240 and 56%, respectively. I believe that Acura has $2,000 dealer cash on this car, so make sure to take that into account in your negotiations.

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CarMan@Edmunds · April 2002

Hello ogbuffguy. Consumers' credit scores most certainly have an effect upon the lease money factors that they are able to use. Most banks have a set of tiered rates for leases, just like they do for normal finance deals. All of the lease money factors that I have been posting assume that the consumer who is getting the car or truck has credit that is in good shape. The rates frequently are higher for consumers with worse credit ratings. How much worse, if at all, the rates are will vary from bank to bank.

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sergeym · April 2002

My girlfriend loves this car and going to lease it very soon. Could you give me the lease money factor and residual for 3years with 12 and 15 K per year.
Thanks.

dfasulo · April 2002

I'm planning on buying my '99.5 A4 2.8 at the end of its 36 month lease in June. It has all of the options, plus a few reversible modifications: coilovers, wheels, xenon headlights. It will also be about 1,000 miles over the mileage limit.

AFS is offering me 7% interest on a loan of any term, and the buyout price is $21,120. Is it worth seriously trying to negotiate, or should I just accept these terms?

pemarsh · April 2002

Has anyone heard of, or have any experience with Leasecompare.com ???

lemas · April 2002

Can you please give me the residual and money factor for 2, 3, and 4 year lease of '02 BMW M3 assuming both 12k and 15k scenarios? Thank you very much.

postnobills · April 2002

Car_Man-
In reference to your reply to my question on A6 2.7T lease rates (see post #3450) my local dealer says you are "completely wrong" and Audi FS does not offer anything even approaching a .00050 money factor. Any suggestions on next step? Is there some type of official documentation the dealer gets from Audi FS that I could/should insist on seeing? Thanks!

dsinsocal · April 2002

Hi Car_man,

Just checking in to see what the rates and residuals are this month for the BMW 330Ci.

Looking for the numbers on a 3-year, 12,000 mile deal.

Thanks.

CarMan@Edmunds · April 2002

SergeyM, your girlfriend has excellent taste. A friend of mine is leasing this exact car and loves it. If she were to lease a 2002 Audi A6 4.2L through Audi Financial Services this month for 3 years, she should be able to use their base lease money factors of between .00150 and .00200. The exact factor will depend upon what state you are in. If you provide me with that additional piece of information, I would be more than happy to tell you the exact factor. The 3 year 15,000 miles per residual value for this car is currently 53%. The 12,000 miles per residual value for the same term would increase to 55%.

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CarMan@Edmunds · April 2002

Dfasulo, there certainly is no guarantee that Audi will be willing to negotiate with you on this vehicle's lease-end purchase price. However, I personally think that it is worth a shot. After all, I am sure that you work hard for your money and the worst thing that they can do is say no. It often turns out that the initial contact that one make at their bank has no authority to negotiate with them and just states that they are not willing to do so. However, if one moves their discussion up the ladder a few notches results can sometimes be achieved. Like I said, I personally would give it a shot because you have nothing to lose. Good luck.

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CarMan@Edmunds · April 2002

Hi lemas. Here is the information that you are looking for. If you were to lease a 2002 BMW M3 Coupe (outstanding choice by the way) through BMW Financial Services this month for 2 or 3 years, their base lease money factor should be .00260. Their 4 year factor would increase to .00280. The 15,000 miles per year residual values for these terms should currently be 66%, 58%, and 51%, respectively. The 12,000 miles per year residual values should be 2% higher than the 15,000 miles per residuals.

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CarMan@Edmunds · April 2002

Hi again, postnobills. I just double checked the numbers that I initially provided you with. If you were to lease a 2002 Audi A6 2.7T through Audi Financial Services in the state of Virginia during April for 39 months their base lease money factor is indeed .00050. It definitely appears to me as though the person who you are working with at this dealership is lying to you. AFS does e-mail lease rate sheets to their dealerships that detail their program rates and residual values each month, but since it appears that they are not being completely truthful with you to you I highly doubt that they are going to be willing to show you this month's sheet. I personally would be somewhat irritated with this and would likely attempt to find a different Audi dealership to work with. Of course, that may be easier said than done. I don't know how many Audi dealerships that there are in your area.

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CarMan@Edmunds · April 2002

Hey dsinsocal. If you were to lease a 2002 BMW 330Ci through BMW Financial Services during the month of April for 3 years with 12,000 miles per, their base lease money factor and residual value should be .00210 and 61%, respectively.

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krochelli · April 2002

Car_man, wondering what 3 yr money factor and residual would be for 12k and 15k miles for a Boxster or Boxster S in California. The leasecompare site seems to have very, very low residuals for what seems to be a car that has one of the best depreciation factors this side of Mars...

Thanks,

Keith

sergeym · April 2002

Thanks Car_man,
We are in New Jersey.

pantherburn · April 2002

Carman,

As you know, I have been researching leasing my wife's next vehicle, and today while talking to my agent about a homeowners claim, I asked about rates for a leased vehicle. She said that depending on the leasing company, deductibles are usually required to be $250 or less. I currently carry $1000 deductibles on all my vehicles. If I have to go to a lessor deductible it will definitely negatively impact my cost of insurance. Could also be quite significant. Something to think about... Comments please.

soylent · April 2002

Greetings Car_Man,
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!

blueguydotcom · April 2002

I've got a 2001 car with lease buy-out of 17800 and a residual of 11800.

Now, if I trade that car in to a dealer and get KBB on it (16990), I'm required to pay the remaining 900, right?

If I sell the car outright to someone for say the exact amount I owe, 17800, will I have to still pay any sales tax? If so, then it seems trading the car in will save me more money as I can pay only $900 or pay 1300 or so in taxes and I have to get my car smogged (another $100).

murty1921 · April 2002

CarMan,Can you please advise me on the deal being offered.
My 1999 Infiniti i30t is ready to be turned in.
I had no problems with the car,and they are firm on their price.
$19,350 buy out,plus $150.
To walk away.......10,000 miles @.15c=$1500.
turn in fee=$350.
Thank You,Steve

CarMan@Edmunds · April 2002

Hi Keith. The residual values for the Porsche Boxster are actually fairly solid, but I have seen higher. The highest residual values that I ever recall seeing are perhaps those that were issued for the new Mercedes-Benz C-Class when it was first introduced. I believe that the MBCC resids for that car were something like 75% for 3 years! It made an outstanding vehicle to lease in the beginning! Let's take a look at Porsche's program for the model that you are interested in. If you were to lease a 2002 Porsche Boxster S (without Tiptronic) through Porsche Motor Credit for 3 years with 15,000 miles per, I believe that their base lease money factor and residual value should currently be .00280 and 60%. The 12,000 miles per year residual value would increase to 62%.

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CarMan@Edmunds · April 2002

No problem, SergeyM. If you were to lease a 2002 Audi A6 4.2L through Audi Financial Services in the state of New Jersey for 3 years with 15,000 miles per, this month's base lease money factor and residual value should be .00150 and 53%. The 12,000 miles per year residual value for this car would increase to 55% for this term.

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CarMan@Edmunds · April 2002

Hi pantherburn. Although, banks that lease vehicles to consumers do indeed usually have minimum insurance requirements that may require more coverage than one would normally purchase on their own not all banks require that consumers carry a certain deductible on their policies. The exact insurance requirements that are necessary to lease vehicles are set by each bank individually, so this policy will vary depending upon who you are leasing through. The bank that I am currently leasing my car through does require certain levels of coverage, but does not require me to carry a certain level of deductible.

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CarMan@Edmunds · April 2002

Hey soylent. Welcome aboard. I suppose that poster is the correct word for someone who posts a message, but it sure sounds like you are hanging on the wall of someone's room with pictures of athletes or rock stars all over you

. As one might expect with such a new vehicle, General Motors is not currently providing any sort of lease support on the 2002 Saturn VUE at this time. So if you were to lease one through General Motors Acceptance Corp. this month, you would have to use their standard lease rates. I don't know if I have seen their newest standard rate, but the last time I saw it it was around 6.75% for consumers with great credit. As far as this truck's residual values go, they're nothing special. GMAC's 36 month 12,000 miles per year residuals for it are 45% for 2WD and 46% for AWD models. According to my calculations, if you were to lease a 2002 VUE AWD using these numbers you would get a painful zero down, pre-tax monthly lease payment of right around $505.

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mdx88 · April 2002

Car Man: Please provide the April money factor and residual for an Acura MDX Touring + Nav, 12k, 36 months. My dealer is quoting .0030 and 61% plus security and acquisiton. Thanks for providing this great service!

lazura · April 2002

Car_Man,
I appreciate all your valuable information. Could you tell me the money factor and residuals for two vehicles for 3 year, 15,000 miles: the Lexus RX300 (AWD and 2WD) and the BMW X5 3.0. Thanks!

tprjim · April 2002

I've just come upon this site; perhaps this question has already been asked: I live in the US and wonder if it is possible/beneficial(financially) to lease a car in Canada to use in the US/

70gcode · April 2002

Hi Car_man, Can you give me the money factor and residual % for a 2002 Ford Excursion and a 2002 Chevrolet Suburban. 36/month 12k/year.
Thank you.

shaker58 · April 2002

looking for a 39 or 36 mth lease can you give me and estimate on the payment live nyc no money down 8.5%taxes

chaznva · April 2002

Car_man -
This is my first post after a long time of gathering useful information from this and other discussions. We're coming up on end of lease on Chrysler Sebring Conv and have learned about the incentives being offered - payoff of up to last four months plus loyalty amounts, etc.

Will you please provide if possible the money factors for standard Chrysler 300 and Jeep Grand Cherokee Limited? Located in southern Virginia. 36 months and 15K/yr is the plan.

Thanks -

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