Thanks that seems like a pretty aggresive money factor. Also the residual is based on the actual cap cost not the MSRP, correct? Thanks again this is a great board.
Thanks for your quick response and info. The MSRP on the car was $34,185. I'm looking at a 39 mos. lease, 18K miles and $1,500 out of pocket. Let me know what you come up with. Thanks for your help.
What happens with the typical lease if the person dies? Does the spouse have to keep paying or can they return it? Sorry for the morbid question but if i were to lease it would likely outlast me.
You already answered me regarding the Volvo lease deal in NC-- One more question--in addition to the S60, I am looking at the Audi A4 1.8T quattro (decisions, decisions!) Do you have the august MF, residual, etc for 36 mos in North Carolina, 12,000K for Audi Financial?
If one car had a substantially better lease or financing program, that might sway the decision as they are neck and neck! thanks Mike
You're welcome, edisaac. You're right, Saab always seems to be one of the "league leaders" in terms of incentive spending. In answer to your most recent question, vehicles' residual values are actually based upon their full MSRPs including the MSRP of any options that may be residualized, not their capitalized costs.
No problem, analogkid1. Thank you for the additional information. OK, so let's say that you were to lease a 2003 Infiniti G35 with leather (MSRP: $34,185 / Cap Cost: $32,359) through Infiniti Financial Services this month for 39 months with 15,000 miles per year, according to my calculations your zero down, pre-tax monthly lease payment should be right around $473. Once tax and the additional mileage charges are added to this lease payment, it likely will be near or slightly over $500 per month.
Hi 93fsu1. I am sorry to hear that you feel as though a leased vehicle might outlast you. As you can imagine, this isn't a question that comes up very often here in the Town Hall. However, I once remember a Ford salesperson saying that Ford Motor Company will take back a leased vehicle if the lessee passes away during the term. Still anything that is written here is just hearsay. If you feel as though this might be a problem down the road, I strongly urge you to contact the bank that you are considering leasing through directly to see what their policy on this matter is. It is best to be certain before you enter any sort of legally binding contract.
Hello chrish11. I would be more than happy to help you out. If you were to lease a 2002 Audi A6 2.7T through Audi Financial Services in the state of Pennsylvania right now for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00070 and 51%, respectively. The numbers for an otherwise identical lease of a 2002 A6 3.0 Sedan with quattro should currently be .00100 and 53%. Lastly, the numbers for an otherwise identical lease of a 2002 A6 3.0 Avant should presently be .00090 and 50%, respectively.
No problem, JP. OK now for the VW info. If you were to lease a 2003 Volkswagen Passat GL or GLS 1.8T Sedan through VW Credit this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00185 and 58%, respectively.
Hey clpurnell. Here is the info that you're looking for. If you were to lease a 2002 Volkswagen Passat GLS 1.8T Sedan through VW Credit this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00105 and 55%, respectively. Volkswagen does indeed have dealer cash available on the 2002 Passat right now, but unfortunately this cash may not be used in conjunction with their special lease money factors.
If you were to lease a 2002 Dodge Ram 1500 SWB Quad Cab SLT 4x2 through Chrysler Financial in the state of TX this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00205 and 47%, respectively. DaimlerChrysler is providing lease cash on the 2002 Ram Pickup 1500. Although the exact allowance varies by region, I believe that they are providing $2,000 lease cash on this truck in most areas.
Last but not least we have the 2002 Mazda MPV LX. If you were to lease this van through Mazda's captive finance company in the state of Texas for 3 years with 15,000 miles per their base lease money factor and residual value should be .00223 and 45%, respectively. There is no lease cash currently available on this model.
You're welcome, Mike. Here is the rest of the information that you're looking for. If you were to lease a 2002 Audi A4 1.8T Sedan with quattro through Audi Financial Services in the state of North Carolina right now for 3 years with 12,000 miles per, their base lease money factor and residual value should be .00235 and 56%, respectively.
I think you offer some very valuable advice and I want to add my name to those who thank you for supporting this board!
Here is the question: I live in NY and I am considering the lease of a 2002 Honda Accord EX Sedan. 4 Cylinder. Automatic. The dealer is quoting $269/mo with $0 down and $0 Security and disposition fees. Just need to pay the lease acquisition fee. Do you know when you will have 2003 lease numbers (residual/money factor) for the Accord EX? Also, do you have any insight as to whether Honda will be offering the same lease program on the 2002 Accords in September? (the lease on my current car runs out at the end of Sept. and I am trying to figure out if I should jump on this deal now...)
1. My lease will be ending in about a year on my 2001 Camry XLE V6 (39 month/15k miles per year). Will SouthEast Toyota more than likely cut me a deal to buy the car? The end of lease residual is high at 14763. I can save about a thousand dollars on finance charges if I refinance the remaining balance. Is it worth waiting?
2. What is the best lease deal available from a manufacturer right now under $400 a month (any car)?
I am glad that you enjoy this message board so much, pilotowner. It is difficult for me to say for exactly when Honda will introduce residual values for the 2003 Accord. They may very well come out with some numbers for this car when they publish their September lease program. Given the fact that Honda is not offering any sort of lease support on the 2002 Accord at this time, I doubt that their lease program will be very different on it next month. Although there are no certainties in the world of incentives, they likely will continue their dealer cash on this car and continue to offer their standard lease program on it. The only negative thing that I can see happening is the 2002 Accord's residual values might fall slightly the next time that they publish residuals for it. This would make this car slightly more expensive to lease.
Hi Yog. I am not personally all that familiar with how flexible Southeast Toyota Finance usually is with lease-end vehicle prices. There certainly is a chance that they will be willing to work with you on your car's purchase price. It never hurts to ask and see what happens. You never know until you try. Keep in mind that you may have to move up the ladder a few rungs before you find someone who has the authority to alter your vehicle's lease-end purchase price.
There are lots of cars out there that one can lease for less than $400 per month. Your exact lease payment on any vehicle will depend upon how long you lease it for, how many miles per year you need to be able to drive, and if you make a down payment. Saab typically provides a ton of lease support on its cars, making them great cars for the money. Volvo is also providing quite a bit of lease support on certain models in certain regions. Heck, Jaguar is advertising a lease on the 2003 X-Type 2.5 for only $349 per month right now. Of course this lease requires money down, is for 39 months, and only allows 10,000 miles per year. If you can be more specific about your likes and needs I can give you some more specific lease examples.
How would you factor a lease payment if you wanted the pay the entire lease up front on an Audi a-4? Is this a smart idea or would you suggest buying the car if you have the money upfront?
Hi parker19. Like most banks, Audi Financial Services provides consumers who pre-pay their leases with a reduction in the lease money factor that they use to calculate the cost of their lease. This particular bank, AFS, provides a .00075 reduction in the money factor for pre-paid 24 month leases and a reduction of .00100 for pre-paid 36 or 39 month leases. They do not allow the pre-payment of any leases that are longer than 39 months. If you have the money to do so, pre-paying a lease through Audi Financial Services may be to your advantage. If you tell me exactly what car you are interested in, how long you want to lease it for, how many miles per year you will need, and what state you are in I would be more than happy to let you know exactly how much money pre-paying this lease will save you.
You've helped me over on the Passat pricing list; I'm casting an eye on possibly leasing. I've noted the figures from previous questioners on 15, 000 and 36 months; could you give me the numbers for VW Passat GLS 1.8T on 12,000 miles and 48 months in the SoCal area? Thanks in advance. ClscFlm
Hey ClscFlm. Here is the information that you are looking for. If you were to lease a 2002 Volkswagen Passat 1.8T Sedan this month through VW Credit for 4 years with 12,000 miles per their base lease money factor and residual value should be .00155 and 50%, respectively.
I could use advice from leasing experts to make sure I properly understand the issues with a lease and a trade-in versus a purchase.
I am purchasing a 55K car. I have a trade-in valued at 26K (all before tax). I own my trade-in outright (and am in Washington state if that matters). My goal is to take advantage of the ~$2200 tax benefit of my trade-in.
If I purchase the new car, I can apply the tax from my trade-in towards the new purchase. This assumes I apply the full trade-in value of the car to the purchase, correct? (e.g., I can't take 10K back in cash from the trade-in and get the full tax benefit of the 26K trade-in). The remainder would be financed at their special 3.9% rate.
If I lease the car with no down, I get no tax benefit from the trade-in. The lease rate is also around 4%.
If I do a pre-payed lease, can I apply the tax of my trade-in towards pre-paying the lease (with any amount beyond the prepayed total being returned and the tax benefit on such amount being lost)?. The pre-pay lease is charging .1% finance charge. I would have no payments for the lease duration and a residual to buy out the car at the end.
If I understand all this correctly, the best financing approach would be to do the pre-pay lease (especially assuming I will buy the car at the end of the lease). This is no different than the financing approach with the added benefit of no payments for the lease duration. At the end of the lease I can refinance the remainder or pay it off- whatever makes sense at that time. Is my analysis close to being correct :-)? With the .1% rate the car should cost very close to the purchase price plus tax, correct?
(note I am still waiting the work-up sheet from the dealer for the pre-pay lease - I like to know what to expect beforehand). The purchase price is all locked down (Ford/ Lincoln x-plan pricing) so it is all a matter of number crunching.
Can you better explain the 'tax benefit' of trading in a car? Is this a state tax deal...or something the dealership told you about?
Also remember that if you pre-pay the entire lease, if you car is stolen or totalled, the insurance company gets paid first and then you get any thing left over.
Can you give me some numbers for the SouthEast? I am looking at three options;
1. 2003 Passat GL 1.8T , 36 months 15k miles per year (will also consider a 2002 GLS if it makes sense). 2. 2002 Camry XLE 4Cyl , 36 Months 15k Miles 3. 2002 Accord EX 4Cyl, 36 months 15K Miles per year.
All of these cars are pretty comparable in my mind. Which manufacturer do you think has the best deal going?
In Washington State (King County), there is aprox 8.6% sales tax. When you trade in a car for a new car, the tax of the trade-in can be applied towards the tax on the new car. E.g., a 10K trade-in will give you $860 to cover the sales tax on the new car. This is a state deal.
Also, what are the implications of the insurance company getting paid first? Does this mean if I pre-pay 20K and the car is totaled 1 month in I might not get most of the 20K back? (or more to the point, I might not be able to walk into a dealer and walk out with a replacement car of the same price assuming no change in rates with the proceeds)
Hi, I am not an insurance expert, but there have been numerous posts here about avoiding big downpayments on leases for the reaons of your exposure in the event of a total or theft.
You need to chat with your insurance company and see if they can explain the way it works in your state.
Also, you just don't walk back in and get another car at the dealership, since they are NOT a participant in the lease. The sell the car to the bank or finance company who owns its. They 'rent' it to you, aka lease.
You pay insurance on it, insuring their property. In the event of loss, they get compensated by your insurance company for the fair market value of the car. You would have to deal with them to get the big downpayments or prepayments back. I would think it would be very messy and this is why its not very common.
Plus you are only going to get taxed on the amount of your lease, not the full value of the vehicle that is leased.
I'd get the dealership to give you your 'trade-in' value in one check. Do the lease deal as a normal deal at closing, paying as little down as possible.
In Washington State it appears that the location of the owner of the vehicle determines your sales/use tax rate. Therefore if there is a leasing company in a low tax county or municipality you could save some $$.
I have a 1999 Saab 9-3 convertable, the lease runs out in October. I was investigating my options of turning in and acquiring a new Saab at lease end. I received less than satisfactory customer service and was basically told that I have to go through almost as many hoops as a new customer. They have 36 months of solid reliable credit history, not to mention they have been receiving $400+ dollars a month. I do not feel that I should have to go through the credit check or any other pain or heartburn since I have already proven myself. I have friends that have leased through other car manufacturers and it was a very smooth transition where they basically dropped off their old vehicle and picked up their new one, no credit check; no hassle. What's up with Saab; is customer retention not a priority? Anyone else have any experience with this? I would appreciate any advise or insight you have.
I've been shopping a 2002 330i v. G35. I'm in NJ and for a no money down 36 month lease I've been quoted $545 month for the BMW (MSRP $41710, invoice $39710) 12K per year (.0019 MF and 61% residual). The best price on a comparitively equiped G35 is $510 per month (59% residual and .00260 MF).
Does this sound right to you. For $35 a month difference, I'm leaning towards the BMW.
Carman - can you gieve me current lease cash, residuals, and Money Factors for 36 and 48 month leases on the above for southeast Florida? Do you have the same information for September? If not do you know when that will be available? You've been great, by the way!
whats up man i have not talked to you in well anyway. question im going to be parking this explorer form feb 03 til sept 03 now what should i do to make sure it runs from that time. as you know im getting out of early the reason im doing this is i owe on miles and i have to save up for them. paying off my lease early that is. plus do i owe for say like i know the exhaust sucks but its not a big problem and it happens every blue is that wear and tear thanks.
Hey yhari. Here is the info that you're looking for. If you were to lease a 2003 Volkswagen Passat GLS 1.8T Sedan through VW Credit during the month of August for 3 years with with 15,000 miles per, their base lease money factor and residual value should be .00105 and 55%, respectively.
Although Toyota is providing supported lease money factors on the Camry in some regions this month, I am not aware of any lease support being provided on the 2002 Camry in the Southeastern U.S. right now. that doesn't necessarily mean that they aren't providing any there, just that they probably are not. So, if you were to lease a 2002 Camry through Toyota's captive finance company in your area at this time, would probably have to use their base standard lease money factor of 00250 and a 3 year 15,000 miles per residual of 52%.
Last but not lease, er uh I mean least , if you were to lease a 2002 Honda Accord 2002 Accord EX 4-Cyl through American Honda Finance Corp. this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00230 and 54%, respectively. When negotiating a lease on this car, keep in mind that Honda is providing $1,250 dealer cash on it that may be used on leases.
Hi joeg12. I don't know exactly what the monthly payments for both of these cars should be of of the top of my head. However, the lease numbers that you were quoted for both the BMW and the G35 look to be right. As a result, I don't see any reason why the lease payments that you were quoted would be off. Despite the fact that I like the G35, for a a difference of only $35 a month I definitely agree with you in that I would go with the 330i hands down.
Hello rmlinn. Manufacturers usually do not release their new incentives programs early. As a result, I probably will not have had an opportunity to take a look at Audi and Saab's September lease programs until the middle of the first week of the month. As far as the August programs for these models goes, if you were to lease a 2002 Audi A6 3.0L Sedan non-quattro through Audi Financial Services this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be an amazing .00001 and 47%, respectively. The 48 month 15,000 miles per numbers for this car should be .00026 and 41%. Audi is providing dealer cash on the 2002 A6 this month, but this cash may not be combined with their special lease or financing programs. If you were to lease a 2002 Saab 9-5 Linear Sedan through Saab Financial Services Corp. during August for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00018 and 41%, respectively. The 4 year numbers for this car should be .00075 and 34%, respectively. Saab is also providing a whopping $6,000 lease cash on this car that may be used to reduce its capitalized cost.
Hi mookie14. Generally speaking, it is not a good idea to let vehicles sit unused for long periods of time. If I was in your situation, even though I did not want to put any additional mileage on my vehicle, I would still take it out, let it run for a little while and drive it a few blocks every couple of weeks to make sure that it is doesn't have any problems when you go to turn it in.
Hey haplology. If you were to lease a 2003 Cadillac Escalade through General Motors Acceptance Corp. this month for 36 months with 15,000 miles per year, their base lease rate and residual value should be 3.50% and 49%, respectively.
Audi 2003 A4 1.8t vs. 2003 A4 3.0, both with quattro and automatic
Do you have the money factor and residuals, etc. for 12K/yr in North Carolina? Don't know if you have info on the cars yet since the 2003 are just now rolling into the dealer. Thanks in advance Mike
Carman- Could I please get some lease information for the 02 and 03 Toyota Tundra. I am looking for a SR5 for 36 or 39 months, 15k a year. I am located in Missouri. Also, could you please include the latest lease info on the 02 and 03 Nissan Pathfinder LE for 36 or 39 months, 15k a year. Thanks in advance, this is a great service! Jeff
Did you have the numbers for 12K per year? Also, do you have 39 month numbers? Seems like the residual is pretty low - I thought it might be higher at the beginning of the model year. Any incentives?
Also, do you have the numbers for a 36 month lease at 12K miles for the 2003 Yukon Denali and 2003 Range Rover?
Car_man, Called the Saab dealer to get a price on the 9-5 wagon (Linear and Aero). They asked me if I or a family member was a GM employee because there are some discounts availble if I was one. Question, the lease cash of $6K you had mentioned a couple of weeks ago I assume that was not the GM offer. So if they come back and say that the lease cash is for GM employees only should I insist on the full amount? Thanks
Good morning, Mike. Here is the information that you are looking for. If you were to lease a 2003 Audi A4 1.8T Sedan without quattro through Audi Financial Services in the state of North Carolina this month for 3 years with 12,000 miles per, their base lease money factor and residual value should be .00293 and 61%, respectively. If you were to do an otherwise identical lease of a 2003 Audi A4 3.0L Sedan without quattro the numbers should be .00185 and 56%, respectively.
Hi Jeff. To the best of my knowledge, Toyota is not providing any sort of lease support on the 2002 or 2003 Tundra at this time. So if you were to lease either one through their captive finance company, you would have to use their base standard lease money factor of .00250 for all lease terms. I have not seen the residual values for the 2003 Tundra yet, but the 2002 Tundra has a 3 year 15,000 miles per residual value of 55% and a 39 month 15k residual value of 54%.
I do not believe that Nissan has introduced their lease program for the 2003 Pathfinder yet, but I have seen their program for the 2002 version of this truck. If you were to lease a 2002 Nissan Pathfinder LE 4WD through Nissan Motor acceptance Corp. this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00185 and 51%, respectively. Their 39 month 15,000 miles per base numbers should be .00175 and 50%, respectively. In addition to these special lease money factors, Nissan is providing $1,000 lease cash that may be used to reduce this truck's capitalized cost.
You're welcome, haplology. I believe that General Motors Acceptance Corp. adds 3% to their 15,000 miles per year residual values for leases with only 12,000 miles per year. Unfortunately, I have not seen the 39 month lease program for this truck. The residual values for most domestic products seem to be fairly low these days, even at the beginning of the model year. This has especially been true ever since the shake up in the industry a year or so ago when many banks took huge residual value exposure losses from overestimating vehicles' residuals. General Motors is not providing any other sort of incentives on the 2003 Escalade at this time. They do however have 0.0% financing for up to 5 years or $2,500 consumer cash on the 2002 version of this truck through September 3rd. As far as the 2003 GMC Yukon Denali goes, if you were to lease one through GMAC this month for 3 years with 15,000 miles per, their base lease rate and residual value should be 6.50% and 49%, respectively. Last but not least, the 2003 Land Rover Range Rover has 3 year 15,000 miles per numbers of .00280 and 52%, respectively.
Comments
Thanks that seems like a pretty aggresive money factor. Also the residual is based on the actual cap cost not the MSRP, correct? Thanks again this is a great board.
Thanks for your quick response and info. The MSRP on the car was $34,185. I'm looking at a 39 mos. lease, 18K miles and $1,500 out of pocket. Let me know what you come up with. Thanks for your help.
Would you please provide the money factor and residual for Audi A6, 3 yr, 15k/yr, Pennsylvania:
2.7T
3.0 Quattro
3.0 AVANT
Thanks!
Thanks for the Saab info. I'm just shopping one more car before I pull the trigger.
I'm looking at 36mo. 15K miles, $0 down.
I need the usual MF, residual, and special offer info(if applicable)
Thanks Again
JP
1) 2002 Passat GLS 1.8t Auto
2) 2002 Dodge Ram 1500 SWB Quad Cab SLT 4x2
3) Mazda MPV LX
All these have either dealer or customer cash available I think. Could you please indicate if these can be used with the lease programs you quote.
TIA
You already answered me regarding the Volvo lease deal in NC--
One more question--in addition to the S60, I am looking at the Audi A4 1.8T quattro (decisions, decisions!)
Do you have the august MF, residual, etc for 36 mos in North Carolina, 12,000K for Audi Financial?
If one car had a substantially better lease or financing program, that might sway the decision as they are neck and neck!
thanks
Mike
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If you were to lease a 2002 Dodge Ram 1500 SWB Quad Cab SLT 4x2 through Chrysler Financial in the state of TX this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00205 and 47%, respectively. DaimlerChrysler is providing lease cash on the 2002 Ram Pickup 1500. Although the exact allowance varies by region, I believe that they are providing $2,000 lease cash on this truck in most areas.
Last but not least we have the 2002 Mazda MPV LX. If you were to lease this van through Mazda's captive finance company in the state of Texas for 3 years with 15,000 miles per their base lease money factor and residual value should be .00223 and 45%, respectively. There is no lease cash currently available on this model.
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I think you offer some very valuable advice and I want to add my name to those who thank you for supporting this board!
Here is the question: I live in NY and I am considering the lease of a 2002 Honda Accord EX Sedan. 4 Cylinder. Automatic. The dealer is quoting $269/mo with $0 down and $0 Security and disposition fees. Just need to pay the lease acquisition fee. Do you know when you will have 2003 lease numbers (residual/money factor) for the Accord EX? Also, do you have any insight as to whether Honda will be offering the same lease program on the 2002 Accords in September? (the lease on my current car runs out at the end of Sept. and I am trying to figure out if I should jump on this deal now...)
Thanks
2 questions:
1. My lease will be ending in about a year on my 2001 Camry XLE V6 (39 month/15k miles per year). Will SouthEast Toyota more than likely cut me a deal to buy the car? The end of lease residual is high at 14763. I can save about a thousand dollars on finance charges if I refinance the remaining balance. Is it worth waiting?
2. What is the best lease deal available from a manufacturer right now under $400 a month (any car)?
Thanks
Yog Hari
yhari@yahoo.com
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There are lots of cars out there that one can lease for less than $400 per month. Your exact lease payment on any vehicle will depend upon how long you lease it for, how many miles per year you need to be able to drive, and if you make a down payment. Saab typically provides a ton of lease support on its cars, making them great cars for the money. Volvo is also providing quite a bit of lease support on certain models in certain regions. Heck, Jaguar is advertising a lease on the 2003 X-Type 2.5 for only $349 per month right now. Of course this lease requires money down, is for 39 months, and only allows 10,000 miles per year. If you can be more specific about your likes and needs I can give you some more specific lease examples.
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Thank you
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Yog Hari
You've helped me over on the Passat pricing list; I'm casting an eye on possibly leasing. I've noted the figures from previous questioners on 15, 000 and 36 months; could you give me the numbers for VW Passat GLS 1.8T on 12,000 miles and 48 months in the SoCal area? Thanks in advance. ClscFlm
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I am purchasing a 55K car. I have a trade-in valued at 26K (all before tax). I own my trade-in outright (and am in Washington state if that matters). My goal is to take advantage of the ~$2200 tax benefit of my trade-in.
If I purchase the new car, I can apply the tax from my trade-in towards the new purchase. This assumes I apply the full trade-in value of the car to the purchase, correct? (e.g., I can't take 10K back in cash from the trade-in and get the full tax benefit of the 26K trade-in). The remainder would be financed at their special 3.9% rate.
If I lease the car with no down, I get no tax benefit from the trade-in. The lease rate is also around 4%.
If I do a pre-payed lease, can I apply the tax of my trade-in towards pre-paying the lease (with any amount beyond the prepayed total being returned and the tax benefit on such amount being lost)?. The pre-pay lease is charging .1% finance charge. I would have no payments for the lease duration and a residual to buy out the car at the end.
If I understand all this correctly, the best financing approach would be to do the pre-pay lease (especially assuming I will buy the car at the end of the lease). This is no different than the financing approach with the added benefit of no payments for the lease duration. At the end of the lease I can refinance the remainder or pay it off- whatever makes sense at that time. Is my analysis close to being correct :-)? With the .1% rate the car should cost very close to the purchase price plus tax, correct?
(note I am still waiting the work-up sheet from the dealer for the pre-pay lease - I like to know what to expect beforehand). The purchase price is all locked down (Ford/ Lincoln x-plan pricing) so it is all a matter of number crunching.
Thanks in advance.
Also remember that if you pre-pay the entire lease, if you car is stolen or totalled, the insurance company gets paid first and then you get any thing left over.
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Can you give me some numbers for the SouthEast?
I am looking at three options;
1. 2003 Passat GL 1.8T , 36 months 15k miles per year (will also consider a 2002 GLS if it makes sense).
2. 2002 Camry XLE 4Cyl , 36 Months 15k Miles
3. 2002 Accord EX 4Cyl, 36 months 15K Miles per year.
All of these cars are pretty comparable in my mind. Which manufacturer do you think has the best deal going?
Also, what are the implications of the insurance company getting paid first? Does this mean if I pre-pay 20K and the car is totaled 1 month in I might not get most of the 20K back? (or more to the point, I might not be able to walk into a dealer and walk out with a replacement car of the same price assuming no change in rates with the proceeds)
Thanks
I am not an insurance expert, but there have been numerous posts here about avoiding big downpayments on leases for the reaons of your exposure in the event of a total or theft.
You need to chat with your insurance company and see if they can explain the way it works in your state.
Also, you just don't walk back in and get another car at the dealership, since they are NOT a participant in the lease. The sell the car to the bank or finance company who owns its. They 'rent' it to you, aka lease.
You pay insurance on it, insuring their property. In the event of loss, they get compensated by your insurance company for the fair market value of the car. You would have to deal with them to get the big downpayments or prepayments back. I would think it would be very messy and this is why its not very common.
Plus you are only going to get taxed on the amount of your lease, not the full value of the vehicle that is leased.
I'd get the dealership to give you your 'trade-in' value in one check. Do the lease deal as a normal deal at closing, paying as little down as possible.
In Washington State it appears that the location of the owner of the vehicle determines your sales/use tax rate. Therefore if there is a leasing company in a low tax county or municipality you could save some $$.
Good luck
I've been shopping a 2002 330i v. G35. I'm in NJ and for a no money down 36 month lease I've been quoted $545 month for the BMW (MSRP $41710, invoice $39710) 12K per year (.0019 MF and 61% residual). The best price on a comparitively equiped G35 is $510 per month (59% residual and .00260 MF).
Does this sound right to you. For $35 a month difference, I'm leaning towards the BMW.
Thanks for the help.
Although Toyota is providing supported lease money factors on the Camry in some regions this month, I am not aware of any lease support being provided on the 2002 Camry in the Southeastern U.S. right now. that doesn't necessarily mean that they aren't providing any there, just that they probably are not. So, if you were to lease a 2002 Camry through Toyota's captive finance company in your area at this time, would probably have to use their base standard lease money factor of 00250 and a 3 year 15,000 miles per residual of 52%.
Last but not lease, er uh I mean least
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Thanks.
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Do you have the money factor and residuals, etc. for 12K/yr in North Carolina?
Don't know if you have info on the cars yet since the 2003 are just now rolling into the dealer.
Thanks in advance
Mike
Could I please get some lease information for the 02 and 03 Toyota Tundra. I am looking for a SR5 for 36 or 39 months, 15k a year. I am located in Missouri. Also, could you please include the latest lease info on the 02 and 03 Nissan Pathfinder LE for 36 or 39 months, 15k a year.
Thanks in advance, this is a great service!
Jeff
Did you have the numbers for 12K per year? Also, do you have 39 month numbers? Seems like the residual is pretty low - I thought it might be higher at the beginning of the model year. Any incentives?
Also, do you have the numbers for a 36 month lease at 12K miles for the 2003 Yukon Denali and 2003 Range Rover?
Thanks!
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I do not believe that Nissan has introduced their lease program for the 2003 Pathfinder yet, but I have seen their program for the 2002 version of this truck. If you were to lease a 2002 Nissan Pathfinder LE 4WD through Nissan Motor acceptance Corp. this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00185 and 51%, respectively. Their 39 month 15,000 miles per base numbers should be .00175 and 50%, respectively. In addition to these special lease money factors, Nissan is providing $1,000 lease cash that may be used to reduce this truck's capitalized cost.
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