Lease Questions - Ask Here

shap1 · October 2002

Thanks for the info, Car man. I completely agree with you regarding the 60 month option and am trying to convince my husband to look at 36 or 48 months. Volvo's money factor is pretty high, so I think we should shop around a bit. Are there any reputable "independent" leasing companies out there, or should we stick with the banks? Chase seems pretty competitive right now, for example.

CarMan@Edmunds · October 2002

You're welcome, moelexx. I am glad that you find this message board so informative. The bank that you are leasing through wants $51,500 to buy your GS 300 at the end of your term?!?! That can't be right, since this car was only in the high $30,000 to low $40,000 range brand new. I suppose that you are adding this car's lease-end purchase price to the sum of the payments that you have already made on it. That would make more sense. Lexus models do tend to have high lease residual values so it certainly is not a shock to me that they want a high price for your car at the end of your term. As far as your car's excess wear and tear goes, as long as your car is in reasonably good shape I wouldn't worry too much about having to pay a fine for excess wear and tear, especially if you are leasing through a captive finance company. Of course, every bank has their own guidelines as to what constitutes excess wear and tear and how strict they are in evaluating off lease vehicles. You definitely should contact the bank that you are leasing this car through, probably Lexus Financial Services, to see if they can e-mail or mail you a copy of their wear and tear guidelines. Most banks are more than happy to provide their customers with this sort of information. By doing so you can evaluate your car prior to turning it in and decide if you need to fix anything first.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2002

No problem, shap1. I am glad that I was able to help you out. You are right about Volvo Finance's lease money factor being a little on the high side for this truck, but that really is not all that surprising given the fact that they are not providing any sort of support on it. Volvo figures, and rightfully so, that they will be able to sell all of the XC90s that they can make at first without having to provide any sort of support on them. Given this lack of support, it is entirely possible that an independent bank, like Chase, would have a more attractive lease program on this truck at this time. Many of these banks do not lease directly to the general public and only conduct business through dealerships. Plus, dealerships usually have computer systems that enable them to search the country for the banks that are offering the best program on a particular model for a particular length lease. It is difficult for consumers to find the best deals from independent banks on their own. If you indicate to the dealership that you are working with that you are interested in leasing, they may be able to find a bank that can beat the program that I just quoted you.

Car_man
Host
Smart Shoppers / FWI Message Boards

moelexx · October 2002

Your info was fantastic carman, I would recommend you to anyone. I have another question and would like your thoughts. I leased this car jointly with my mother, with her being the primary, of course because her credit is great. My credit, quite frankkly, sucks. However, I have made all the payments on the car, what are the chances I could lease something on my own? Would Lexus Financial Services or another company take into consideration my past lease (which is due in DEC) or most likely want my mom to co-sign again? Thanks again in advance.

joeb27 · October 2002

To Car_Man,

First let me say that this service is amazing. Trying to get this information from a dealer, over the phone is impossible.

Would you happen to have the residuals on a 36, 48, & 60 month lease assuming 12k and 15k miles per year for a Toyota Highlander 4x4, V6?

Also, would you know what the money factor should be for someone with a mid-700 credit score?

THANKS A MILLION!!

chow3 · October 2002

Car man we are still looking for the right deal on a three seat SUV or minivan. Really like the new expedition. There seem to be deals on the value(no rear air)but no incentives for the popular. What is the beat deal on the 2003 popular this month in 2wd. Do you see ford with some lease incentives in the next couple months?? thanks chow.

markhampton · October 2002

I signed the papers today, and I pick up my 2002 BMW 745i tomorrow. The terms are:

Term: 36 months and 12k/yr
Money factor: .0015
Residual: 63%
Cap Cost: $63,749 (plus lux tax and acquisition fee)
Cap cost reduction: 0
Paid first month and security deposit up front

Monthly lease: $768/mo (plus $57/mo in tax)

Not bad, eh? I'm happy with the deal, and I doubt I could have done it without your help.

Thanks!

CarMan@Edmunds · October 2002

Thanks for the kind words, moelexx. Of course, it is difficult for me to say for certain from afar, but if you haven't had any major credit problems during the time that you are leasing your current vehicle and haven't missed any payments then I think that there is a good chance that you would be able to lease your next vehicle through Lexus Financial Services on your own. LFS' lease program has four different credit tiers, so even if you don't qualify for their tier 1 rates, you still may qualify for one of their other tiers. If I was in your situation, I would obtain a copy of my credit report prior to applying for a loan on your next vehicle. The following article provides information on how to do so, as well as offering some other good credit tips: Credit Tips - Getting The Best Deal On Your Car Loan. By getting a copy of your credit report, you can make sure that all of the information that it contains is correct prior to applying for your next auto loan. The worst case scenario would be that you would have to have your mother co-sign your next loan, which isn't a problem if she doesn't mind doing so.

Car_man

Host

Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2002

I am glad to see that you enjoy visiting this section of the Town Hall so much, joeb27. Dealers often are not willing to provide consumers with this sort of information, especially over the telephone, because there is always the chance that they will be able to add additional profit to your deal by marking up the lease money factor that they are using to calculate your monthly lease payment. Plus if you as a consumer do not know how your lease was calculated, they can often charge you more money for the vehicle that you are getting than you ordinarily would have wanted you to pay. Let's take a look at the truck that you are currently interested in leasing. If you were to lease a 2003 Toyota Highlander 4x4 (Non-Limited) through Toyota Financial Services this month for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00260 and 59%, respectively. This truck's money factors will be the same as the one that I just mentioned for all of the terms that you are interested in, but the residual values should be 52% for 48 months and 45% for 60 months. The 12,000 miles per year residual values for the Highlander should be 2% higher than the ones that I just posted.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2002

Hey chow. Ford definitely is not providing a lot of support on the 2003 Expedition, compared to many of its other models, but the lease rates on it still aren't terrible. Right now Ford Motor Credit's supported lease rates for the 2003 Expedition are around 5% to 6%, depending upon the length of the lease that you are getting. Unlike many other Ford models though, there is not currently any sort of lease cash on the 2003 Expedition. Ford hasn't felt the need to provide much in the way of incentives on the Expedition since its redesign, but given how competitive the auto marketplace is right now I suspect that they eventually will enhance their offers on this model. They have already introduced customer cash on it, so enhanced cash and possibly special financing or lease cash can not be too far behind. It is difficult to say when or if these enhancements will come with 100% accuracy though.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2002

That's great, markhampton. Congratulations on your new car! Enjoy and make sure to come back and let us know how you like it. What do you think of the iDrive. I personally think that it would be a neat feature, but BMW seems to have alienated some of their older buyers, who feel that it is just way too complicated.

Car_man
Host
Smart Shoppers / FWI Message Boards

markhampton · October 2002

Well, I can give you my initial feelings on iDrive. I think your assessment is right one the money -- older people and technophobes in general will hate it. In fact, my first reaction when I test-drove the car was that it was too severe a paradigm shift for the average driver.

Change in small doses is fine, but I can see how the electronic shift stalk, upshift/downshift buttons, programmable buttons, iDrive, etc, can be a bit overwhelming to some people -- particularly for the computer illiterate among us; not that anyone here falls in that category

. Fortunately, I make a living with computers, and generally the system makes sense to me. I also like the fact that the car is so customizable.

dll2000 · October 2002

Hey Car Man!

I came to you 3 years ago for info when I leased my current car, and armed with your numbers, I was able to calculate my lease rate to within a couple of dollars of what the dealer came up with.

My lease is up at the end of the year, so I am back again...

Here is what I need:

Money Factor and Residual for a 2003 Audi A4 3.0 AWD 6sp Sedan.

I am looking at 36 months with 15K miles a year.

I live in the 20008 zip code and I know that these numbers may vary slightly from what I will see in December, but I wanted to get an idea of where things stand at the moment.

Thanks!

n1daniel · October 2002

Hi Car Man, I have read some of the messages in this forum to see if I can just find the answer but unfortunately I did not. By the way I came to this forum from the other ones at your recommendation and it seems that you are doing a fantastic job of re-allocating some of the dealer's profit into the buyer's hands.
This is what I am looking for:
Acura TL-S with nav 36-39 months, 15K miles
Infinity G35 with nav (and whatever option that I need to get nav which I believe is the premium package, nothing else) 36-39-42 months, 15K miles
This is what I was offered:
Acura: 0 drive off / 520 including tax for 36 mon
1K dr off/ 485 incl tax for 36 mon
Infinity: 0 dr off / 630 incl tax for 36 mon
0 dr off / 610 incl tax for 39 mon

Note: 0 drive off meaning no down, no fee, no tax, no first payment.........nothing

Are these good deals or just reasonable and what would you consider a very good deal in your opinion. From what I read in this forum people are interested in residuals and money factors but I am more interested just with the drive off and payment. I do not care what the dealer does for me to get the payment that I want. They will either lower MSRP or give invoice or take me to a financial institution where the interest is lower and they will not get anything back from the bank.
Of course by anything I do not mean extremes like a Nissan dealer ad that I saw with a very low drive off and very low monthly payments just to have you pay a lump sum at the end of their 60 months lease that was explained in very small print. THANKS.

CarMan@Edmunds · October 2002

Thanks for your thoughts on the new 7, Mark. You confirmed my suspicion that many people may be overwhelmed by all of the technology in it. Of course, as you mentioned people who are hanging out on the Internet like we are probably do not fall into that category

.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2002

Welcome back, dll2000. Wow three years ago, huh? You're making me feel old

. Let's take a look at the next car that you are thinking about getting. If you were to lease a 2003 Audi A4 3.0 Sedan with quattro through Audi Financial Services right now for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00220 and 57%, respectively. As you already seem to be aware, Audi generally issues a new lease program every month so please feel free to check back with me in December to see what their program is like then.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2002

Hey n1daniel. Thanks for re-posting your question here on the Finance, Warranty, and Insurance Message Board. Here's what I am going to do for you. I will calculate sample lease payments on both of these cars using their Edmunds.com True Market Values as the selling price and their manufacturers' base lease programs. This should give you an idea of how much it should cost to lease them. First, if you were to lease a 2003 Acura TL-S without Navigation (MSRP: $31,830 Cap Cost: $30,232) through American Honda Finance Corp. this month for 3 years with 15,000 miles per, I calculate that you should have a zero down, pre-tax monthly lease payment of right around $410. As far as the 2003 Infiniti G35 Sedan with leather (MSRP: $30,195 Cap: $29,807) goes, if you were to lease one through Infiniti Financial Services this month for 3 years with 15,000 miles per, I calculate that you should have a zero down, pre-tax monthly lease payment of right around $478 or so. The payments that I just calculated for you are definitely very attainable and should be your guideline when shopping for these cars. Keep in mind if you add any factory or dealer installed options to these cars, their payments will go up. The same goes for when tax is added to your payments. These payments are based on no money down, so in terms of the money that you are going to have to pay at signing, you will only owe your vehicle's first month's payment, a security deposit equivalent to your vehicle's monthly payment rounded off to the nearest $25 or $50, and an acquisition fee of $450 for Infiniti and $550 for Acura.

Car_man
Host
Smart Shoppers / FWI Message Boards

superman5 · October 2002

how do i find out if i have gap insurance or not? do i call my insurance company or my lease company? if i dont have it, can i purchase it now? the car is 1 year old now.

superman5 · October 2002

if i am able to purchase, how does the rate work? more on monthly payment?

force98 · October 2002

Look at your lease contract--it may say if you have gap insurance or not. Or, go to the web site of the lease finance company. For example, the Ford Motor Credit site shows that gap insurance is included in a Red Carpet Lease.

n1daniel · October 2002

I guess based upon your findings, the offer that I received are not bad at all:
TL-S with nav $0 drive off & $520 incl tax 36/15K
G35 with nav $0 drive off & $620 incl tax 36/15K
THANKS

mtnmike · October 2002

Car_Man,

You have been a wealth of info for me in the past and have I gotten great lease deals armed with info you have provided. So we're back again. My wife is in the lease market for a mini-SUV. She is interested in the Honda CV-R and the Hyundai Santa Fe, with the Honda being her first choice.

Before we go "shopping" could you give me the published residual values and money factors for the 2003 Honda CV-R and 2003 Hyundai Santa Fe low mileage (12,000 or less) 36 and 42 month leases.

Thanks in Advance,

Mike

footie · October 2002

I thought that the $620 seemed way high for a G35. I went to the Infiniti site and ran a maxed out configuration for a G35 (Premium Pkg, Winter, DVD Nav, and all the mats and splash guards). MSRP is $36,455.

You shouldn't pay close to that. A cap cost of $35000 for 3yrs/15Kyr would give you a zero out of pocket lease payment in the $530 range before taxes and insurance.

zachary2 · October 2002

Are there any 2003 SUV's with third row seats that result in monthly payments between $400 and $450. I am looking for such a vehicle with leather and sunroof. 36 month or 48 months with 12K per year and no money down.

I would also like residual, money factor information on the following vehicles (all with leather, sunroof, 36 month or 48 month 12K:

2003 GMC Envoy SLT 4WD

2003 Mountaineer AWD

2003 XC90 2.5T AWD

2003 Pilot EX-L 4WD

2003 Explorer XLT 4WD

2003 MDX 4WD

2003 Trailblazer 4WD

n1daniel · October 2002

Your number of around $530 with the options you mentioned plus no drive off and car man $478 with leather only and drive off fees are only $52 apart.
car man estimated drive off fees are around $1500 and if I $1500/36 months= $42.
So now the difference narrows down to $10 a month between your number and car man's. Is $10 enough to cover for the options?
footie / car man . Can I get your opinions from this?

footie · October 2002

The question was how come you were getting a $620 payment for a G35, and thinking it was a good deal?

When you go to the Infiniti site a G35 with just leather shows up with a $495 lease price...but I didn't track down their assumptions...

Can you lay out the deal that led to a $620/mo lease. That's a lease price on a $40K BMW 330ci?
Your G35...
MSRP =
Cap cost =
Sec dep, acq cost, etc. =
Residual, money factor
etc.?
Car_Man can check the lease for you.

pmelanc · October 2002

Hi Car_Man,

I just got back from the Audi dealer and they gave me a money factor of .00157 on a 36 month 15K lease on a A6 3.0L CVT. You previously gave me a money factor of .00117 for October. I just wanted to confirm your original information.

Thanks

n1daniel · October 2002

car man price of $478 and what I was offered $620 are different. The only thing in common is that it is a G35 with leather 36mon/15K miles. car man price does not include monthly tax and is based on a leahter car with no other options and on top of that I have to pay drive off fees.
My offer price includes tax, and is based on a leather with premium, sunroof, and navigation plus no drive off fees.
Now having car man price of $478 as my starting point and assuming that it is a good price this is why I said that $620 might be a good deal:
I am assuming that navigation will cost me $1500 for 36 months = $42 a month
I am assuming that premium and sunroof will also cost me around $1500 for 36 months = $42 a month
Drive off another $1500 which divided by 36 will again cost me $42 a month (read post #4717 for details)
So starting with car man price of $478 + $42 (nav)+$42 (pp and sun)+ $42 (drive off) = $604 + $50 (tax)= $654.
My assumption: Nav original dealer price $2000. $1500 because I am giving it a residual value of $500. It is my understanding that options like navigation have little value in a used car.

Now, you are saying that $620 is too high of a price compared to what you think would be reasonable which is $574 ($530 + tax) Then it seems to me that car man price of $517 ($478+tax) is high because the difference between your number and his, again, is only around $50-$60. And it seems that only $50-$60 for 36 months will not be enough to cover for drive off fees, premium, sunroof, and navigation.
footie/car man please reply

footie · October 2002

I think that Car_Mans's spreadsheet can help you to better understand how lease prices are actually calculated.

The lease prices are hard to estimate correctly on the basis of what you think this option or that option will be worth divided by the number of months. It would be easy for a sales person to start with a lease on a 'standard' G35, for example that was advertised in the newspaper, then upsell you on options and tell you here's the new price. He could tell you that it went up because of the option prices divided by the months are this number or that and add it up just like you did.

If that happened you should think about shopping elsewhere. Here's why...

Leases are based on several things:
* The cap cost on the car, i.e. what you agree to pay for it as if you were buying it (less taxes, title, etc.)
* The residual which is a % of MSRP (like 58%).
* The money factor ( a fraction like .0025 which is the equivalent of the interest rate you are being charged divided by 24 )
* The number of months
* Whether your monthly payment is 'taxable' and how much of it is taxable.

The residual is usually about the same for a given model independent of options, unless they come bundled as a special vehicle and the car has a unique depreciation schedule. In the case of the G35, Car_Man said earlier it was 58% and Infiniti was doing 6.25% on 36 month leases.

With a 58% residual from Infiniti's financing arm, in the case of the $2000 NAV, you pay for the depreciation on it of 42% or 840/36 months or $23.33 and another $5.17 in "lease interest" for a total of $28.40 assuming you got it included in the price of the car for $1500 instead of the MSRP. So it's about 1/3 smaller than the $42 number.

So if you used a Car_Man spreadsheet for a G35 loaded with every available option, and with a cap cost of $35K, you'd get something like this:

Loaded G35
MSRP $36,455
Invoice price $28,630
Capitalized Cost (negotiated fair price) $35,000
First months payment $531.00
Acquisition Fee $450
Security Deposit $0
Capitalized Cost Reduction $0
Due at signing not including tax/fees $981.00
Residual Percentage 58%

Residual Value after 3 years $21,143.90
Term Depreciation $13,856.10
Interest Rate (dont 6.24%

Money Factor 0.0026
Monthly Lease Rate $145.97
Number of months 36
Monthly Depreciation $384.89
Newspaper ad price / month $531.00
(this price doesn't include taxes)
State Sales Tax on Payment $19.24 (5% on deprecition)

State Sales Tax on Cap Reduction $0.00

Monthly Payment $550.11

Due at signing $981.00
Doc fees $100.00
Tax on cap cost reduction $0.00
Total Due at Signing $1,081.00

You get out for about $1k depending on fees and have a monthly payment of $550 (including taxes).

Buy less car, lower the payments. Negotiate a lower cap cost, pay less.

Every $1000 you reduce the Cap cost through negotiation or apply as a 'cap cost reduction' down payment, should reduce the monthly payment by about $28.

Me... I think the base G35 is a great deal and it is discounted somewhat in some markets. A $5K reduction in the car price takes $140/month off of your payment -- down to nearly $400. That's a lot of car for $400 and $1000 drive off price.

Good luck

footie · October 2002

Excuse my mistake on the invoice price in the price message. I was correcting the message the Edmunds 1/2 edit time limit expired, so I couldn't fix it.

It's wrong and I don't have info on the correct $ and it has no bearing on the lease anyway.

Regards

clpurnell · October 2002

Footie it actually is a pretty good deal if you read what N1daniel states. I built his car at infiniti.com and got the following.
msrp of 35465
Purchase Price 33500 (invoice +~1200)
Tax (8.25% he said he lives in california this is his tax rate) 2763
Drive offs are say $1100
His cap cost is 37363 (0 drive off)
If you put this into infiniti's lease calculator for the g35 you get a payment of 628.10
his payment of 620 beats that so I would say it is a decent deal.

tguerino · October 2002

Carman,

I am interested in the residual and money factor for a 2003 BMW 745i for a 36 month with 12k mi/yr. ALso, I saw earlier this week that another lister was able to get a 62% residual and .00015 money factor on a 2002 745i. Is that money factor an incentive by BMW on the 2002 models or will I be able to get that rate on a 2003? Thanks for you help.

Tony G.

footie · October 2002

Must be a difference in the spreadsheet.

Does California actually tax the entire price of the car in a lease... I didn't think so. (Illinois does and that's why leasing there is VERY unpopular).

I think the tax is based on the depreciation which is the Cap Cost - Residual.

If it's figured into the monthly payment and you add the 'drive off of $1100' back into the capcost, the number comes out for me at $565 and change. If you pay it up front by rolling it in to the lease payment, then you are financing sales tax (and other drive off fees) as depreciation. Duh?

Plus why would anybody finance their first monthly payment? This is like giving money away.

BTW, where did you get the Invoice pricing. Edmunds didn't have them.

CarMan@Edmunds · October 2002

Hi superman5. There are several ways that you should be able to find out if you have gap insurance on the vehicle that you are currently leasing. The first would be to look at your lease contract. If you are unable to find your contract, or it doesn't say if you have gap insurance, call the bank that you are leasing your car through and ask them or check their Web site for the answer to this question. If you do not currently have gap insurance, you still may be able to find a company that is willing to sell it to you, but you definitely will not be able to include it as part of your car payment. You will likely have to pay a one time fee of several hundred dollars.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2002

You're welcome, n1daniel. I am glad that I was able to help you out.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2002

Hi again Mike. I remember helping you out in the past. How are things? Here is the information that you are looking for. First, if you were to lease a 2003 Hyundai Santa Fe through Hyundai's captive finance company right now for 3 years, their base lease money factor should be .00295 for all trim levels. The 3 year, 12,000 miles per residual values for the 2003 Santa Fe should be 51% for the GLS 4WD and 50% for the LX 4WD. Let me know if you are interested in the 2WD version instead of the 4WD. I do not believe that Hyundai publishes data for 42 months leases.

As far as the 2003 Honda CR-V goes, Honda is not currently providing any sort of support on it. So if you were to lease one this month through American Honda Finance Corp., you would have to use their standard lease money factors. Right now AHFC's base standard money factor for 3 year leases is .00230. I have not seen the 2003 CR-V's residual values yet, but I suspect that I will when they introduce their November lease program next week. Please feel free to check back with me then to see if I have been able to find anything out. Talk to you then.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2002

Hi zachary2. Unfortunately, I can not think of any trucks with 3rd row seating that would have lease payments in the range that you mentioned off of the top of my head. There very well may be trucks out there that fit this description, but it is tough to know exactly how much money it would cost to lease them without doing some calculations. Here are the money factors (or lease rates) and residual values for the vehicles that you are interested if you were to lease them through their captive finance companies this month for 3 years with 12,000 miles per: 6.50% (enhanced to 3.5% in certain regions) and 51% (enhanced to 54% in certain regions) for the 2003 GMC Envoy SLT 4WD; 2.75% and 45% for the 2003 Mountaineer AWD (non-Premier); .00375 and 63% for the 2003 XC90 2.5T AWD without Navigation (I don't think that this truck is even in dealerships yet); .00230 and 63% for the 2003 Pilot EX-L 4WD; 2.25% and 46% for the 2003 Explorer 4-Door XLT 4WD; .00220 and 65% for the 2003 MDX 4WD (Non-Touring, Non-Navigation); and 6.50% (enhanced to 3.5% in certain regions) and and 51% (enhanced to 54% in certain regions) for the 2003 Trailblazer 4WD. Of the trucks that you are interested in, there is $500 bonus cash during the month of October on both the 2003 Envoy and Trailblazer that may be used to reduce their capitalized costs, $1,000 lease cash on the 2003 Mercury Mountaineer, and $1,000 on 2003 Explorer 4-Door models in most areas.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2002

Hey pmelanc. I just double checked Audi Financial Services' base lease money factor for the 2003 A6 for you and if you were to lease any variation of the 3.0L A6, you should be able to use AFS' base lease money factor of .00117, just as I mentioned earlier. It definitely looks to me as though the dealership that you are working with is attempting to mark up this car's base money factor to add additional profit to your deal.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2002

Hello Tony G. Here is the information that you are looking for. If you were to lease a 2003 BMW 745i through BMW Financial Services this month for 3 years with 12,000 miles per, their base lease money factor and residual value should be .00255 and 64%, respectively. BMW's lease money factors for the 2002 version of this car, .00150 for 3 years, are much lower than the ones that are available on the 2003 model because BMW is providing support on the '02s to help dealers unload left over units. Unfortunately, BMW is not providing any lease support on 2003 models yet, so you will have to use the first factor that I posted.

Car_man
Host
Smart Shoppers / FWI Message Boards

zachary2 · October 2002

Thank you for the information you provided with respect to 3 year lease deals. Do you have the residual and money factor information for 4 year lease deals for these vehicles?

Thanks,

zachary2 · October 2002

I recently received a quote on the Honda Pilot for $30K cap cost. The Pilot has leather but no DVD or Nav. system. 48 month lease, 12K $399 per month plus tax. Is this a good deal? Residual: 16,450 and money factor: .00220.

superman5 · October 2002

I don't think i have it, do you think it is worth it having it , my car is 1 year old now, 3 more years left on the lease.

johnsayd · October 2002

I have a 9-3 sedan that is halfway through a 4-year lease and want to upgrade to a 9-5 wagon. Has anyone done this and gotten a decent deal?

mtnmike · October 2002

Car_man,

She is looking at the front wheeled drive in both the Sante Fe (probably GLS FWD), and the Honda CR-V. 36 Month "Lo Mileage" on the Santa Fe and 36 or 42 Month "Lo Mileage" on the CR-V.

We are not in any rush so when those November Honda money factors and residuals are published please advise! As always thanks. Since we are under no pressure to buy. I am kinda looking forward to the shopping experience again knowing what I know these days. It is actually kind fun trying to grab the best deal.

Mike

sandra6888 · October 2002

Hi, First I would like to thank Edmund's for such a great site. I am on your site so much its a miracle I get any work done. But hey, Knowledge is power.
Here is my story, I am doing my research, for a Pathfinder SE model. I was planning on leasing and trying to get a deal on a 2002 model, at this time of the year is it better to lease a 2002 model or just start leasing the 2003? My intentions are to purchase the car at the end of the lease and I am a weekend driver mostly. I live in NY. Any advice on any Nissan offers out there , Would it be a good idea to hold out until December when the dealers are trying to make year end quotas? Thanks for all your help!!

dealmkrjjd · October 2002

Car_man:

Looking for the #'s on a 2003 Allroad with 12k, 15k per year and the money factor. Also, any special incentives? Thanks in advance!

CarMan@Edmunds · October 2002

Hey zachary2. Here are the money factors (or lease rates) and residual values for the vehicles that you are interested if you were to lease them through their captive finance companies this month for 4 years with 12,000 miles per: 6.50% (enhanced to 3.5% in certain regions) and 45% (enhanced to 46% in certain regions) for the 2003 GMC Envoy SLT 4WD; 5.25% and 40% for the 2003 Mountaineer AWD (non-Premier); .00365 and 55% for the 2003 XC90 2.5T AWD without Navigation; .00220 and 56% for the 2003 Pilot EX-L 4WD; 3.25% and 39% for the 2003 Explorer 4-Door XLT 4WD; .00205 and 59% for the 2003 MDX 4WD (Non-Touring, Non-Navigation); and 6.50% (enhanced to 3.5% in certain regions) and and 45% (enhanced to 46% in certain regions) for the 2003 Trailblazer 4WD.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2002

Zachary2, I should have scrolled down and seen your next post prior to writing the last one. Oh well

. I would be more than happy to calculate a sample lease payment on this truck for you. However, first, I am going to need you to provide me with its full MSRP. Once I have that figure, I can tell you what I think of the payment that you were quoted.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2002

I am glad to hear that you enjoy visiting Edmunds.com so much, sandra6888

. At this point in the model year, even with the larger discount that dealers usually provide on left over models it often turns out that new model year vehicles, i.e. 2003s, are less expensive to lease than last year's models, 2002s. The reason this is the case is that vehicles' residual values gradually fall as the model year progresses. This late in the year, in some cases the residual values on 2002 models are so much lower than 2003 models' residual values that they actually have higher monthly lease payments. In fact, many manufacturers have already ended their 2002 model lease programs. Nissan still has a supported lease program available on the 2002 Pathfinder, but just by looking at the raw data it is difficult to say for certain whether it would be better to lease an '02 or an '03 right now. I have a feeling that with the $1,000 lease cash and the additional discount that one can expect on a left over vehicle that it may be a little less expensive to lease a 2002 model at this time. In order to find out for certain, I would be more than happy to provide you with the details of both model years' programs so that you can calculate some sample lease payments on an '02 and an '03 to see which one would be less expensive. In order to do so, I am going to need you to tell me how long you plan on leasing for and how many miles per year you need.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2002

Hello dealmkrjjd. Audi is not providing any cash incentives on the 2003 allroad at this time. They do have a little lease support and special financing rates on it though. I would be more than happy to give you an idea of what this vehicle's current lease program should be like. However, first I am going to need you to tell me how long you are interested in leasing it for. Once I have this additional piece of information I will be able to help you out. Talk to you soon.

Car_man
Host
Smart Shoppers / FWI Message Boards

Lease Questions - Ask Here

Comments

Helpful Tools

Most popular vehicles