You're welcome, Paul. Unfortunately, DaimlerChrysler's lease cash may not be combined with their normal consumer cash promotions. The normal consumer cash may only be used on units that are sold without taking advantage of Chrysler Financial's special lease or financing programs.
Hi chow3. I would be more than happy to help you out. However, the September lease programs (can you believe that it is October already?!) for both Ford and General Motors were scheduled to expire at the end of the month. I have not seen their new October lease programs yet, but suspect that I will have had an opportunity to take a look at them by the end of the week. Please feel free to check back with me then for answers to your questions.
Like I told clpurnell, I could have waited a week and sought advise on the on-going deal the Fleet Manager was offering at that time. I should have posted my predicament here, called a lawyer on the phone for free consultation, - there are avenues I could have taken. The Fleet Manager got worried i.e., the letter that I sent to the Secretary of the State here in California made mention of the fact that Gunderson Chevrolet here in the South Bay was closed off by DMV, their records was seized and a lot of customers who leased from them had been given between $1500 - $4500 as a result of misrepresentation on the lease agreements. It was broadcast on local TV here. Yeah my persistence paid off but not enough. I say whoever is reading this and who feels that they are on the bad end of a lease should do the steps that I had taken. Hey it's your money (damn dealership and the bank made a lot of money@$%%^).
You can google (www.google.com) and search for Gunderson Chevrolet South Bay to find out what I am talking about.
Hey haplology. If you were to lease a 2003 Cadillac Escalade (both 2WD & 4WD) through General Motors Acceptance Corp. this month for 3 years with 12,000 miles per, their base lease rate and residual value should be 3.50% and 49%, respectively.
Hi iamaddman. General Motors is currently running two different lease promotions on the 2003 Envoy. In some regions they have a 3 and 4 year supported lease rates of 3.5%, while in other regions they have a lease rate of only 6.5%. I really am not sure which one of these rates is currently in effect in your area, so you may have to do a little comparison shopping to get an answer. As far as residual values go, right now GMAC has a 3 year 12,000 miles per residual of 51% and a 4 year 12k residual of 45% on this truck. This month General Motors also introduced $500 bonus cash nationally on the majority of its trucks, including the 2003 Envoy. You should be able to use this bonus cash to reduce this truck's capitalized cost when you negotiate a lease on it.
Welcome aboard, is300_lover. Let me begin by saying that I personally believe that $3,395 is way too much money to pay at lease signing. The total due at signing usually includes your vehicle's first month's payment, a security deposit, an acquisition fee, and your down payment. With this particular lease your first payment is $329, your security deposit should be $350, and your acquisition fee should be around $600 (If your lease is through Lexus Financial Services), so this means that you are making a down payment of just over $2,100 on this lease. I generally recommend to consumers that they lease vehicles with as small a down payment as possible, which is usually zero. I do this for two main reasons. The first is that down payments on leases do nothing to establish equity in the vehicle that you are getting. They only serve to reduce the amount of interest that you have to pay. So whether you make a $10,000 down payment or no down payment on this car, your lease end purchase price will always be exactly the same. The other reason is that if your car is totaled in an accident or stolen and not recovered, your insurance company will pay off the bank that you were leasing through and your down payment will essentially disappear, which is not an appealing thought.
In your post you mentioned this car's full MSRP, but you never mentioned the capitalized cost that is being use to calculate your monthly payment. A vehicle's capitalized cost is essentially the price that you are paying for it. This is one of the main factors that you as a consumer can negotiate on leases. Naturally, the lower the price that you are being charged for this car is, they lower your monthly lease payments will be. Make sure to find out exactly what the cap cost is for this deal. Once you have that figure, compare it to what you might expect to pay for one if you were to buy it for cash by either asking other community members or looking up its Edmunds.com True Market Value. If you are paying too close to full MSRP, try to negotiate the price down a little more.
If you would like, once you have this car's cap cost, let me know and I would be more than happy to calculate a sample lease payment for you. This will give you a very good idea of what you should be spending to lease it at this time.
Carman has good points about negotiating the price.
Many people like the IS but it has moved slower than Lexus hoped.
I think that there should be a significant price reduction on a 2002 vs 2003 IS. Plus, I just ran your configuration on the Lexus site and it said your MSRP for a 2003 IS should be 32K and change unless you have some special options on it.
You definitely should get a cap cost of close to 'Invoice' on the 2002 which would be around 29K for the 5 spd model and the std options.
Depending on money factor and residuals, that would drive a monthly price under $330 with nothing down other than security, first month and bank fee as Car_Man indicated.
Car Man, I would like some information on the following vehicles, if available, for a three year lease with 12k per year in Florida(2WD): explorer xlt w/ third seat expedition value and popular tahoe-ls w/third seat trailblazer xl honda pilot lx thanks car man we are looking for the best deal. The wife would like to explore the suv options prior to the minivan s.
Carman: Do you have the numbers & incentives on the Toyota Sequoia? How about an idea of a reasonable lease payment to expect w/ 0 down, basic 4WD model? (Hope I'm not too ambiguous; I am still very new to these forums.)
Can Man, Thanks for the amazing amount of information you continue to provide. I was wondering if you had information on the October residual and money factor rates for the G35. I am looking for a 36 or 39 month lease with 15K per year. If October's are not available, do you happen to have September numbers? I plan to lease early next week and would like to have some benchmark info in case the dealer tries to pad the numbers.
I have a 36-month lease on a 01 Taurus SES with October being month number 15. I'm at 17,100 miles right now which means that I'm about 2,000 miles over. I was thinking about ending the lease early, maybe around month 32 or 33. I was just wondering, when you turn the car in early, is the mileage pro-rated to the time you turned the car in or do they just use the 36,000 mile figure.
Ex: You turn the car in during month 32 on a 36mo/12k lease. Do you have to have less than 32,000 miles or less than 36,000.
And what about when the companies offer to end your lease early, do they waive the mileage or what.
I hope you guys can understand my question, it was kind of difficult to describe.
If you look on your contract it probably only specifies the TOTAL miles allowed for the 36 months. If you are under this total when you turn the car in the mileage will not be pro-rated for any mileage charge.
I'm looking at a 2002 boxster with msrp of $48,100. any idea on money factor/residual on 4yr/40000 mile lease? I calculate invoice at about $42000. Only 3 2002 base model's left on this rather large dealers lot, and this is the only 5-speed. Already has ten 2003 models on the lot. Are there incentives on the 2002 model, and what do you think would be a reasonable offer? thanks...this is my first time posting
Hi dealmkrjjd. I haven't seen the details of Saab's October lease program yet, but suspect that I will have a chance to look at it very soon. Check back with me tomorrow with a quick reminder and I should have the info that you are looking for. Talk to you then.
Hi chow3. I actually prefer SUVs to minivans as well. Let's take a look at the vehicles that you are interested in. First, if you were to lease a 2003 Ford Explorer 4-Door XLT 2WD through Ford Motor Credit this month for 3 years with 12,000 miles per, their base lease rate and residual value should be 2.25% and 46%, respectively. Keep in mind though that Ford's lease program does vary slightly from region to region and may be a little different in your area. In addition to this special lease rate, Ford is providing $1,000 lease cash on 2003 Explorer 4-Door models. Next we have the Ford Expedition. In order for me to provide you with accurate data for this truck, I am going to need you to tell me if you are interested in the Eddie Bauer, XLT, or FX4 and if this truck is 2WD or 4WD. After that you mentioned the 2003 Chevrolet Tahoe. If you were to lease this truck this month through General Motors Acceptance Corp, their 3 year 12,000 miles per base lease rate and residual value should be 6.5% and 55%, respectively. During the month of October, General Motors is offering $500 Bonus Cash on many of its 2003 model year trucks, including the Tahoe, that may be used in conjunction with their lease program. This same Bonus Cash is also available on the 2003 Trailblazer. GMAC's numbers for the 2003 Trailblazer should be 6.50% and 51%. This truck's lease program is enhanced to 3.5% and 54% in certain regions, but I do not know if you are in one of these areas. Last but not least, we have the 2003 Honda Pilot LX. If you were to lease this truck right now through American Honda Finance Corp., I believe that their base lease money factor and residual value should be .00230 a whopping 65%, respectively.
carman, I am in south Florida and therefore we are looking at 2wd. We are interested in the xlt expedition. Does the trailblazer special apply in this area?? thanks again. chow
Hi Car_man... I am looking at midsize SUVs. I like the looks of the RAV 4 but the Honda CR-V and Forrester seem to have better crash ratings. I am in New York and am interested in a 36 month lease with zero down. Do you have the money factors and residuals for all three? Any incentives? Then I can start my shopping. Thanks Steve
I'm considering leasing a 2003 Lexus RX 300 AWD with the Navagation System Value Package. The TMV is $41,390 which is list. I drive about 15,000 miles per year and am located in New York.
Am I better off doing a 36 or 39 month lease? I'd appreciate the money factor and residual percentage associated with the "better" lease term.
I would think that you would have to pay early termination fees... unless you pay the lease through the end of the term(ie, if you turn in @ 32mo on a 36mo lease, aren't you responsible for 4 mos of payments?) or pay the early termination fees... hmm... maybe an expert can answer this question...
I leased a Ford Sport Tracon January 2001 and have 57,750 miles on a 12k/ year mile plan. I did not realize that I was going to put so many miles in my truck. I will have had the truck for two years this January. What are my chances of trading it in for a different vehicle maybe older year. What am I expecting to happen?
Can I change my current lease into a pay to own type of thing? I am trying to avoid more miles put on this truck.
FYI: I do have a gas card with minor repairs and maintenance covered thru my company, but I hearing that it is not enough.
Hello krishnaj. I am glad that you enjoy visiting this message board so much. Unfortunately, I have not seen Infiniti's October lease program yet. I suspect that I will have had an opportunity to take a look at it by the end of the week though. I can provide you with Septembers's numbers for now, like you asked for in your post. The October program should be very close to what the September program was like. Last month, if you leased a 2003 Infiniti G35 Sedan with Leather through Infiniti Financial Services for 3 years with 15,000 miles per, their base lease money factor and residual value should have been .00260 and 58%. The 39 month factor would have been the same, but the residual value would have dropped to 57%. If you haven't finalized a deal by then, check back with me late this week for more information on October's program.
Hi jcat707. Keep in mind that even if you return your leased vehicle early, you will still be liable for the 3 or 4 monthly payments that you were scheduled to pay the bank that you are leasing it through. If you were to turn your car in early, your mileage limit would still be 36,000 miles, or whatever it was when you signed your contract. If you are over that limit, you will have to pay an excess mileage penalty in addition to your remaining lease payments. Very few banks will allow consumers to terminate their leases early free of charge. In the past, some manufacturers' captive finance companies, like General Motors Acceptance Corp. or Ford Motor Credit, have offered free early termination promotions for consumers who lease another vehicle through them. However, to the best of my knowledge no banks are currently running this sort of promotion.
Hey kyfdx. I should be able to help you out. Porsche was offering special low lease money factors on 2002 Boxsters a few months ago. However, I believe that this promotion is no longer available. If this is the case, and you were to lease this car through Porsche Credit Corp., you would have to use their standard lease program. Right now, if you were to lease a 2002 Boxster through them for 4 years, their base standard money factors for consumers who qualify for their top credit tier is .00260. Their 4 year 10,000 miles per residual value for a 2002 Boxster (not S & w/o Tiptronic) should be 53%.
Thanks for the additional information, chow. OK, Ford Motor Credit's 3 year 12,000 miles per October lease rate and residual value for a 2003 Expedition XLT 2WD should be around 5.75% and 53%, respectively.
Hey Steve. I am going to need you to be a little more specific about the vehicles that you are interested in in terms of their trim levels and whether they are 2WD or 4WD, etc..., for me to give you an accurate idea of what their lease programs should be like at this time. Once I have this additional info I should be able to help you out.
Hi Joe. Generally speaking 39 month leases usually have slightly lower monthly lease payments than 36 month leases because consumers can spread the large initial depreciation hit that vehicles take over 3 additional months. Of course all leases are different and whether or not you are better off with the 36 or 39 month term may vary depending upon this specific model's money factors and residual values. I have not had an opportunity to take a look at the October lease program for Lexus yet, but suspect that I will have a chance to today or tomorrow. Check back with me on Thursday and I should be able to give you an idea of what the lease program should be like for the RX 300. Talk to you then.
Greetings zandozan. Here is the information that you are looking for. If you were to lease a 2003 Nissan Pathfinder through Nissan Motor Acceptance Corp. for 3 years this month, their base lease money factors should be .00160 for the LE and .00134 for the SE. Its 3 year 12,000 miles per residual values should be 55% for the 2003 Pathfinder LE 4WD and 56% for the SE 4WD. This truck's 39 month lease program is slightly better than its 36 month program. Let me know if you would be willing to stretch your lease out an additional 3 months for a slightly lower monthly payment and I will fill you in on the details.
You're welcome, chow3. The $1,000 lease cash that Ford is currently providing on 2003 Explorer 4-Door models can not be combined with their normal consumer cash.
Thanks for the reminder, dealmkrjjd. OK, if you were to lease a 2003 9-5 Arc Wagon trough Saab Financial Services Corp. this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00048 and 49%, respectively. I believe that this vehicle's 3 year 12,000 miles per residual value would increase to 50% and the 3 year 10,000 miles per residual value would rise to 51%. In addition to the special lease money factors, Saab is currently providing $1,000 lease cash that may be used to reduce this model's capitalized cost.
Whoops... sorry about that. Looking for residuals and money factors on 2003 models if you have them. Otherwise 2002. I am in New York and am interested in a 36 month lease with zero down and 15,000 miles.
Forester XS - 4WD Automatic Honda CR-V EX - 4WD Automatic Toyota RAV4 Base w/L Pkg - 4WD Automatic
No problem, zandozan. Here is the 39 month 12,000 miles per year information for the 2003 Pathfinder if you were to lease it through NMAC this month. The factors and residual values for this truck would fall to .00152 and 54% for the LE 4WD and .00112 and 55% for the SE 4WD. The lease cash will be exactly the same for this longer term.
Tell me about it, dig . In order for me to provide you with accurate information on the Expedition, I am going to need you to tell me if you are interested in the Eddie Bauer, FX4, or XLT. Also, I am going to need you to let me know how long you want to lease these SUVs for and how many miles per year you wish to be allowed. Once I have these additional pieces of information I should be able to help you out.
Don't worry about it Steve. Thanks for the additional information. OK, if you were to lease a 2003 Subaru Forester XS through Subaru's captive finance company this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00180 and 53%, respectively. I have not had a chance to look at Honda's residual values for the 2003 model year CR-V. Has it arrived at dealerships, yet? If so, I will do some digging and see what I can come up with for you. I have at least seen Toyota's September numbers for the 2003 RAV4 and suspect that their October numbers should be fairly similar. Last month if you were to lease a 2003 Toyota RAV4 4WD through Toyota Financial Services for 3 years with 15,000 miles per, their base lease money factor and residual value should have been .00250 and 60%. Even is October's numbers aren't exactly identical to these, this should give you an idea of what to expect.
Hey chrish11. Here's the info that you're looking for. If you were to lease a 2003 Audi A6 Avant through Audi Financial Services in the state of Pennsylvania this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00117 and 54%, respectively.
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Car_man
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You can google (www.google.com) and search for Gunderson Chevrolet South Bay to find out what I am talking about.
Thanks! I needed that.
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Thanks.
How do the residuals and money factors look for a 2003 Envoy 4WD SLE. I am looking for 3yr/36K and 4yr/48K in the Chicago area. Thanks in advance.
2002 Lexus IS300 (full option w/o nav)
MSRP: $33500
42 months/12000 miles
Initial fee: $3395
Per month: $329.00
Is this good, or am I missing something? Please help. If it's a good deal, I love the way the car drives. Thanks everyone.
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In your post you mentioned this car's full MSRP, but you never mentioned the capitalized cost that is being use to calculate your monthly payment. A vehicle's capitalized cost is essentially the price that you are paying for it. This is one of the main factors that you as a consumer can negotiate on leases. Naturally, the lower the price that you are being charged for this car is, they lower your monthly lease payments will be. Make sure to find out exactly what the cap cost is for this deal. Once you have that figure, compare it to what you might expect to pay for one if you were to buy it for cash by either asking other community members or looking up its Edmunds.com True Market Value. If you are paying too close to full MSRP, try to negotiate the price down a little more.
If you would like, once you have this car's cap cost, let me know and I would be more than happy to calculate a sample lease payment for you. This will give you a very good idea of what you should be spending to lease it at this time.
Car_man
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Many people like the IS but it has moved slower than Lexus hoped.
I think that there should be a significant price reduction on a 2002 vs 2003 IS. Plus, I just ran your configuration on the Lexus site and it said your MSRP for a 2003 IS should be 32K and change unless you have some special options on it.
You definitely should get a cap cost of close to 'Invoice' on the 2002 which would be around 29K for the 5 spd model and the std options.
Depending on money factor and residuals, that would drive a monthly price under $330 with nothing down other than security, first month and bank fee as Car_Man indicated.
good luck
Could I please get the money factor & redidual for a 2003 Saab Arc sport wagon with 10K, 15K miles per year for 3 years?
Thanks in advance!
explorer xlt w/ third seat
expedition value and popular
tahoe-ls w/third seat
trailblazer xl
honda pilot lx
thanks car man we are looking for the best deal. The wife would like to explore the suv options prior to the minivan s.
Where do you get your data? (Residuals, mfg % rates, etc) ?
best
dig
best,
dig
Thanks for the amazing amount of information you continue to provide. I was wondering if you had information on the October residual and money factor rates for the G35. I am looking for a 36 or 39 month lease with 15K per year. If October's are not available, do you happen to have September numbers? I plan to lease early next week and would like to have some benchmark info in case the dealer tries to pad the numbers.
Thanks,
krishnaj
Ex: You turn the car in during month 32 on a 36mo/12k lease. Do you have to have less than 32,000 miles or less than 36,000.
And what about when the companies offer to end your lease early, do they waive the mileage or what.
I hope you guys can understand my question, it was kind of difficult to describe.
thanks...this is my first time posting
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I am looking at midsize SUVs. I like the looks of the RAV 4 but the Honda CR-V and Forrester seem to have better crash ratings. I am in New York and am interested in a 36 month lease with zero down. Do you have the money factors and residuals for all three? Any incentives? Then I can start my shopping.
Thanks
Steve
I'm considering leasing a 2003 Lexus RX 300 AWD with the Navagation System Value Package. The TMV is $41,390 which is list. I drive about 15,000 miles per year and am located in New York.
Am I better off doing a 36 or 39 month lease? I'd appreciate the money factor and residual percentage associated with the "better" lease term.
Thanks,
Joe
Can I change my current lease into a pay to own type of thing? I am trying to avoid more miles put on this truck.
FYI: I do have a gas card with minor repairs and maintenance covered thru my company, but I hearing that it is not enough.
How bad of shape am I?
Car_man
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Just a reminder about the info on the 2003 Saab wagon. Thnaks
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Incentives, rebates, lease rates, everything.
Thanks!
dig
Looking for residuals and money factors on 2003 models if you have them. Otherwise 2002. I am in New York and am interested in a 36 month lease with zero down and 15,000 miles.
Forester XS - 4WD Automatic
Honda CR-V EX - 4WD Automatic
Toyota RAV4 Base w/L Pkg - 4WD Automatic
THANKS, Car-man
Steve
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Please advise October money factor and residual for an Audi A6 Avant for 3 yrs and 15k mi/yr in Pennsylvania. Thanks.
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2003 Expedition 4WD XLT Value, 15k miles & 12k miles/yr, 2 & 3 yr.
Same for Sequoia - 4WD SR5, 12k & 15k miles, 2 & 3 yr.
Thanks!!!
dig