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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, mmuller976. I am glad that you found them helpful. In order for me to tell you exactly how much money it would cost you to lease either of these cars, I would need you to tell me how long you are planning on leasing them for and how many miles per year you would need. For now, I can provide you with an idea of what these cars would cost to lease by sharing the details of some advertised leases that I have seen on them. This month, Nissan is advertising a 36 month lease on the 2003 Maxima SE w/automatic transmission for $339 per month with $1,660 down and 12,000 miles per year. As far as the IS 300 goes, this month Lexus is advertising a 39 month lease on the 2003 Lexus IS 300 5-Speed or E-Shift for $399 per month with $1,841 down and 12,000 miles per year.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey bigelm. General Motors is providing some lease support on the 2003 Chevrolet Trailblazer, but the exact amount of support depends upon what part of the country you are in. There is no lease cash on this truck, but they do have special lease rates that are as low as 3.5% in some areas and 6.5% in others.

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  • mmuller976mmuller976 Member Posts: 3
    Thanks Car_man. I planned on leasing for 39 months, with 12k per year.

    I'd like to have an idea of how far I have to beat the salesmen down to get to a range I want to be at :).
  • zachary2zachary2 Member Posts: 14
    Thanks Car-Man for all your help on this vehicle. The residuals and money factor you quote are from what source? Honda Finance? The dealer has advised me that the residual is 54% and the money factor is .00220 which allegedly came from Honda Finance. I just want to make sure that the dealer is not trying to inflate the money factor or lower the residual in order to make more money on a vehicle that is going at or above MSRP.
  • bigelmbigelm Member Posts: 995
    Sorry Car_Man:

    I live in NJ. This commercial applies to the Tri-State (NY/NJ/CT). What do you mean by lease cash?

    Thanks again.
  • irishrogue1irishrogue1 Member Posts: 127
    does anyone know which manufacturers have lease programs for preowned models? I am most interested in non-luxury makes. I spoke with a Toyota rep and he said new car leasing only....

    thx
  • lazuralazura Member Posts: 43
    irishrogue1,
    The only dealers that I found that offer used car leases are Audi and BMW. But, my BMW dealer has stopped offering 'closed-end' used car leases and only offers 'open-end' used car leases. This means the buyer is responsible for the 'balloon' balance at the end of the lease with no 'turn-in' option. Not sure if other BMW dealers are doing the same. Audi has decent lease rates for 2-year and 3-year leases. But, only lease an Audi where the entire lease period is covered by warranty.
  • lazuralazura Member Posts: 43
    Car_Man,
    Do you have the lease factors yet for the new 2003 Chrysler PT Turbo GT? I need money factor and residuals for 2yr/15K per year and 3yr/15K per year. I have always liked the style of the PT, but Chrysler has finally started to offer a decent engine in this vehicle in the Turbo version. Thanks again.
  • diyediye Member Posts: 45
    Thank you car_man, you are very kind! The extra information is also very helpful. Now I know what to negotiate.

    I guess I shouldn't make such critical spelling error, especially at a time when homeland security is being tightened up. :_)

    Back to topic. My situation is a bit complicated. The car is for my brother in law who doesn't have much credit history but earns a pretty high salary.

    We are basically deciding between a leased Civic LX or buying a Hyundai Elantra GLS. Common sense tells me that leasing a hyundai would be a bad idea since it will have low residual value.

    But since my brother in law has very little credit, will it be much difficult for him to get a lease than a loan?

    Does he have any chance to get the leased term you mentioned? How about the special financing rate?

    If with me co-signing, will it improve the chances?

    Any more input would be much appreciated.

    Dinghui
  • tvandytvandy Member Posts: 12
    My mother leased a used LS 400 through a Lexus dealership but I don't know if that is on a nationwide basis. I'm not sure of the terms she received.
  • tvandytvandy Member Posts: 12
    Car Man or Lazura

    My question is unique since I haven't seen anything similar in recent posts.

    I'm able to write off 100% of my lease payment through my company so financing a car isn't an option for me. With the economy being what it is, I'm leery of acquiring a car payment of more than $650 per month and I don't want to put a lot down but I like to drive nice cars. What is your opinion of leasing a 2-3 year old MB E320? I'd lease for 36 or 39 months with 10,000 miles.

    Lazura, you mentioned your BMW dealer offers leases on used cars, have you researched this extensivly?

    Is this a viable option or should I bite the bullet and lease new?

    Thanks in advance.
  • moelexxmoelexx Member Posts: 14
    Hey carman, it turns out I got turned down on a BMW X5 lease. I tried to do it on my own. It looks like they did'nt even take into consideration my prior 39 month lease on the Lexus. They would'nt even look at my paystubs (which show I can easily afford the car). It's because of my credit score. IS there any options available to me? I don't want to use my mom again as a co-sign. Are there any places that you might know that specialize in leaseing to not so good credit customers?

    P.S. What really screwed my credit up is when I was young and naive.... I was even told by equifax that even by paying old debts, it does'nt help your score and the item still stays on there until 7 years. HELP CAR MAN!
  • irishrogue1irishrogue1 Member Posts: 127
    ok, it appears that audi leases its certified used cars. Carman what do you know about these?? i am looking for a 1999-2000 A4 1.8T quattro. since the audi used warranty is only 2 years, i am assuming the lease is limited to 2 years? i would prefer 36 months, but i ll settle for a quote based on a 24month term (10k miles per yr)if you can come up with residual values for the car. let's assume msrp of $21000

    Thanks in advance!
  • tammy_whitetammy_white Member Posts: 2
    Carman,

    Can you please give me the residuals and money factors for the Suburban/Yukon XL and Yukon Denali XL? I want a 36 month lease with 12K miles a year. Go ahead and give me the 10K as well.

    Thanks,
    Tammy White
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi czerwinski. Too bad that your lease is not through Ford Motor Credit. If it was, you might have been eligible for Ford's SUV Early Bird program. This program allows Ford Motor Credit lessees out of their leases up to 7 months prior to their scheduled termination dates at no charge if they lease or finance another Ford brand vehicle through Ford Motor Credit. Fortunately for you Ford has a ton of owner loyalty cash available on the Expedition right now. During the month of November, they have their base owner loyalty program which provides $1,500 on the 2003 Expedition to any returning Ford customers. In addition to this $1,500, they also have $1,000 owner loyalty cash for returning Expedition owners and lessees if they purchase or lease a new 2003 Expedition. So I believe that in your case they have a total of $2,500 owner loyalty cash right now. This will certainly help offset some of your excess mileage penalty.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, mmuller976. According to my calculations, if you were to lease a 2003 Nissan Maxima SE with automatic transmission (MSRP: $26,189 / Cap Cost: TMV of $24,064 - $500 lease cash = $23,564) through Nissan Motor Acceptance Corp. this month for 39 months with 12,000 miles per year, your zero down, pre-tax monthly lease payment should be right around $343.

    And now for the 2003 Lexus IS 300 with E-Shift. If you were to lease this car (MSRP: $31,350 / Cap Cost: TMV of $30,993) through Lexus Financial Services this month for 39 months with 12,000 miles per year, your zero down, pre-tax monthly lease payment should be right around $474.

    Keep in mind of course, that the Edmunds.com True Market Value numbers that I used in my calculations are guidelines as to what fair deals would be on these cars. It certainly is possible to beat these prices if you shop around enough. Furthermore, if you load these cars up with options and increase their prices their monthly lease payments would be higher than the ones that I came up with.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, zachary2. The numbers that I provided you with are the most recent ones that I have seen from American Honda Finance Corp.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're in luck, bigelm. New Jersey is in General Motors' Northeast region, where the lower lease rate would apply. As far as lease cash goes, it is very similar to consumer cash allowances but is only available if you lease through General Motors Acceptance Corp. Essentially the lease cash can be used to reduce your negotiated price (capitalized cost) on this truck. The lower the price that you are able to negotiate is, the lower your monthly lease payment will be. Make sure to take this $500 into account when negotiating with your dealer.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey lazura. Chrysler has published a lease program for the 2003 PT Cruiser Turbo. Unfortunately, the Turbo variant of this car does not qualify for any of the support that is available on the non-turbo models. So if you were to lease one through Chrysler Financial right now, you would have to use their standard lease money factors. Chrysler Financial's base standard lease money factor for 2 year leases is currently .00345 and their base standard factor for 3 year leases is currently .00295. The corresponding 15,000 miles per year residual values for the 2003 PT Cruiser GT Turbo are 55% and 47%, respectively.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, Dinghui. You are right, Hyundai's residual values are fairly low and they definitely do not make the best vehicles to lease. You would be much better off leasing a Honda. It is difficult for me to comment on your brother-in-law's chances of being approved to finance or lease this car on his own, but I can tell you that if your credit is in good shape it significantly will improve his chances of being approved if you co-sign his loan.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    There has been a lot of talk about used vehicle leases lately. Used vehicles leases through manufacturers' captive finance companies do exist. However, the good lease programs, where manufacturers are actually providing support on vehicles in an effort to provide attractive monthly lease payments, are usually only available from luxury brands, like BMW, Lexus, and Audi. It definitely is possible to lease a Certified Pre-Owned M-Class through Mercedes Benz Credit Corp. right now. Before doing so though, check to see what the price difference between leasing a used model and an equivalent new model would be. The difference between used and new vehicles' lease payments is often not as great as one might think that it should be.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Oh, lazura, one more thing...Edmunds.com just published a new article on the 2003 PT Cruiser GT Turbo. Here is the link to it: Road Test Follow-Up: 2003 Chrysler PT Cruiser Turbo. I thought that you might enjoy it.


    Car_man

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  • tvandytvandy Member Posts: 12
    Car Man,

    Thanks for the info. Do the dealerships use the same formula of Money factor and residual % for used cars? If so, do you have any idea what those numbers are?
  • bradlake1bradlake1 Member Posts: 48
    Hi Carman:

    Can you offer lease info for the Mercedes-Benz (C-class) 230K coupe. We are in Atlanta and are interested in a 3yr, 12/15K mile term. I am not sure if there is any room for negotiating so let's assume MSRP of ~$31,000. Thanks in advance!!!
  • lazuralazura Member Posts: 43
    irishrogue1,
    I just happen to be looking at the same car as you; a used Audi 4 1.8T. My audi dealer quoted me a residual of 47% and money factor of .00265 on an 2000 Audi assured vehicle for 3 yr/15K miles per year. This makes the payment on a $20,000 vehicle to be around $340 with no money down (with good credit, of course). I know that Audi offers 2 year leases on new A4's (70% residual, .00255 mf), but I'm not sure if they offer 2 year leases on used vehicles.
  • diyediye Member Posts: 45
    Thanks again, Car_Man.

    I do have good credit and since he has just been turned down by peoplefirst.com and his own bank, I will co-sign with him. I will let you know how it goes.

    Dinghui
  • irishrogue1irishrogue1 Member Posts: 127
    not even close to a good deal. the residual is pretty bad. thanks for the info.
  • tvandytvandy Member Posts: 12
    Car Man,

    What is the MF and the residual % for a 2003 E320 for 39 months with 10K miles?

    Thanks
  • bigelmbigelm Member Posts: 995
    Thanks for your help Car_Man...

    I'll keep you posted. I'll be calling the salesperson tomorrow when he's in...
  • pemarshpemarsh Member Posts: 68
    I have a leased VW Jetta. I wish to buy Jeep Grand Cherokee and trade in the Jetta. My question is can I trade in the Jetta for whatever Jeep is willing to give me, and then take the left over debt (buy out value-trade in value=left over debt)and add it to the Jeep Grand Cherokee purchase???
  • lazuralazura Member Posts: 43
    Car_Man,
    I know that Saab/GM is always running specials on their lease rates. I am interested in a 2002 or 2003 Saab 9-5 Aero Sedan. What are the residuals and money factors for this vehicle for 3 yr/15000 miles per year? Thanks again.
  • awdladyawdlady Member Posts: 4
    Hi, Carman

    I am going to lease a 2003 Subaru Forester XS Premium Package in NY State for 36 or 39 months. Can you tell me the MF and residuals for these leases? I am getting very different info from each of the dealers. Thanks.

    awdlady
  • awdladyawdlady Member Posts: 4
    I forgot to tell you 15,000 miles per year on the Forester Lease.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I am sorry to hear that you were turned down, moelexx. I don't know of any independent banks that offer attractive leases on BMWs and cater to consumers with less than stellar credit. If I was in your situation, I would look into financing this truck instead of leasing it or perhaps look into financing a less expensive truck. There are definitely banks that will approve you to finance a new vehicle.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey irishrogue1. Yes, Audi Financial Services does indeed offer leases on Certified Pre-Owned vehicles. I do not believe that their used vehicle leases are restricted to two years in length. You should be able to lease one for longer than that if you choose to. Unfortunately, given the fact that used vehicle leases are often not that attractive and not very popular and the fact that there is a mountain of data associated with them when one is looking at several model years' worth of vehicles I do not personally keep tabs on the exact offers that banks are providing on these sorts of leases. I am sorry that I couldn't be of more help.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello Tammy. I would be more than happy to help you out. If you were to lease a 2003 Chevrolet Suburban through General Motors Acceptance Corp. this month for 3 years with 12,000 miles per their base lease rate and residual value should be 6.5% and 55%, respectively. Not surprisingly, the lease numbers for the 2003 GMC Yukon XL and Yukon Denali XL are exactly the same as the Suburban's. I do not know what GMAC's 10,000 miles per year residual values should be, but if they offer leases with such low mileage I suspect that they would be a point or two higher than the ones that I mentioned.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tvandy. Unfortunately, given the fact that used vehicle leases are often not that attractive and not very popular and the fact that there is a mountain of data associated with them when one is looking at several model years' worth of vehicles I do not personally keep tabs on the exact offers that banks are providing on these sorts of leases. I am sorry that I couldn't be of more help.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey bradlake1. According to the most recent information that I have seen, Mercedes-Benz Credit Corp.'s base lease money factor and residual value for a 2003 C230K leased through them for 3 years with 12,000 miles per should be .00250 and 59%, respectively. Their 12,000 miles per year residual value for this term would increase to 61%.

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  • digthisxldigthisxl Member Posts: 13
    Hi Car_man,

    Is December typically a good month to lease a car? ie Do the mfgs usually offer more/greater incentives? I am looking at Ford Expeditions.

    Thanks!
    dig
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, Dinghui. Definitely make sure to come back and let us know how everything turns out.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Ahhh, a new car lease question. This I should be able to help you out with. The last time that I saw Mercedes-Benz Credit Corp.'s lease program, their 3 year 10,000 miles per base lease money factor and residual value for the 2003 E320 Sedan were .00285 and a solid 70%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, bigelm. Let us know what happens and have a great weekend.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello pemarsh. You definitely should be able to buy your your current Volkswagen lease and purchase a new Jeep Grand Cherokee. As you are already aware, if you buy out your Jetta lease at this time, you more than likely will be upside down, meaning that you owe more money on it than it is currently worth. In order to find out exactly how upside down you are, you need to contact Volkswagen Credit, or whatever bank you are leasing this car through, and find out exactly how much money it will cost you to buy your Jetta at this time. Once you have that figure, compare it with what the Jeep dealership you are working with is willing to give you for it as a trade. If their trade-in allowance is less than your purchase price, which I suspect will be the case, you will have to pay the difference out of your own pocket or roll it over into your Grand Cherokee loan. It is difficult to say exactly how much negative equity you will be allowed to roll into your new vehicle loan because different banks have different policies on this subject, but you almost certainly will be able to roll at least some of it into your note.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey lazura. It doesn't make sense to lease a 2002 Saab at this time, because General Motors has discontinued their lease support on '02s. Here are the numbers for the 2003 model that you are interested in. If you were to lease a 2003 Saab 9-5 Aero Sedan through Saab Financial Services Corp. for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00046 and 49%, respectively. When negotiating your lease on this car, keep in mind that Saab also has $1,000 lease cash on the 2003 9-5 Aero Sedan that may be used to reduce its capitalized cost.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Good morning, awdlady. Very appropriate user name for someone who is interested in getting a Subaru. OK, if you were to lease a 2003 Subaru Forester XS through their captive finance company for 3 years with 15,000 miles per, their base lease money factor and residual value should be .00155 and 53%, respectively. Their 39 month 15,000 miles per year numbers for this truck should be .00165 and 52%.

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  • pemarshpemarsh Member Posts: 68
    thank you!!!
  • fotomaniakfotomaniak Member Posts: 39
    Hi!
    Any info on what should I expect when returning car to GMAC after the lease? what they usualy try to charge you as far as wear & tear etc...
    and what you actually have to pay?

    about the car: no excees milage, actually the milage is going to be 4-5K lower then 36000 allowance.

    If I were to return the car earlier are there any penalties?

    Thanks!
    PS I don't want to buy the car after the lease
  • digthisxldigthisxl Member Posts: 13
    Car_man/everyone:

    Know of any banks out there that will talk to consumers directly about leasing a car to them? ie bypass the dealer's "finance manager" altogether & just hand the dealer a check.

    best,
    dig
  • clpurnellclpurnell Member Posts: 1,083
    Most major cities have 3rd party leasing companies that will go get the exact car you want want and lease it to you directly. There are very few banks that do Leases directly to consumers. You may want to try the leasecompare.com web site they will shop for a lease for you also.
  • tnguyenmdctnguyenmdc Member Posts: 5
    Hey car_man,
    I posted this question a few weeks ago. You told me to check back in a week, but I haven't seen any post on it. I know you're very busy with all the questions, so I would really appreciate it if you can pass some info my way.
    I'll be picking up an '03 MDX Touring w/Nav and Rear Entertainment System (RES). MSRP is all I can negotiate. So it comes out to $42,500 with destination charge. Can you please provide MF, Residual and what my monthly payment would be if I do either 3 or 4 years lease with 12K miles per year?

    Thanks again in advance.
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