Within the last year, a leasing company (in NY?) was successfully named in a lawsuit following an accident - because the lessor owned the title to the car. Many leasing companies are going to a different instrument, i.e. a loan with a balloon payment where the driver is registered as the owner and the lessor holds a lien, to avoid that problem. Conceptually, it's different; but, practically, it's very similar when the 'owner' has a right to opt between paying the balloon and turning the car over to the 'lienholder' at the end of the term.
Hi paddler3. Subaru's May lease program is only scheduled to run through tomorrow, June 2nd. I have not been able to take a look at its June program yet. I suspect that I will have had an opportunity to do so by late this week. Please feel free to check back with me then.
Thanks for the additional information, eaweg. Volkswagen's May lease program is only scheduled to run through tomorrow, June 2nd. Since it is unlikely that you are going to lease this car before then, why don't you check back with me with a quick reminder towards the end of this week and I will provide you with the details of VW Credit's new June lease program. As far as the Edmunds.com travelling road show goes, although I am not involved in that area of the company I highly doubt that Edmunds will be running one again in the future. I have heard that it was extremely expensive and did not provide enough bang for the buck so to speak.
Thanks for the compliment, theeths. As with most manufacturers incentives and lease programs, the May lease programs for most of the vehicles that you are interested have either just expired or are scheduled to expire in the next day or so. I would be more than happy to shed some light on their June programs for you if you check back with me with a quick reminder towards the end of this week. Talk to you then.
No problem, alanek. To calculate the monthly lease payment on the 2004 Lexus RX 330 4WD with navigation & the rear entertainment system that you are interested in, I used a 4 year, 15,000 miles per lease money factor and residual value of .00220 and 46%. These numbers were available through Lexus Financial Services' May lease program. I have not seen their new June program yet. It may contain different money factors or residual values for this particular model.
You're welcome, lawman10. As I have mentioned to others recently BMW's May lease program is only scheduled to run through June 2nd. If you lease this car through BMW FS' in a week or two you will have to use its new June lease program. I do not believe that the details of BMW's new program have been released to dealers yet, but I suspect that I will have an opportunity to check it out by the end of the week. Please feel free to check back with me then with a quick reminder and I will fill you in on the new lease details for this car. Talk to you soon.
Hello wannaudi. The residual value that you were quoted is right on the money, but the lease money factor looks as though it is a little on the high side when compared to Audi's base factor of .00115 for this car and term in May. Unless they are waiving your lease security deposit, which requires them to slightly increase your vehicle's money factor, they may be trying to pad your vehicle's factor a little bit to add additional profit to your deal. Either way, Audi's May lease program is only scheduled to run through June 3rd. If you finalize this deal after that date, you will have to use its new June lease program, which neither I nor any Audi dealers have seen yet. If you would like, please check back with me towards the end of this week and I should be able to give you an idea of what Audi's new June program should look like for this model. Talk to you soon.
Hey dave_h2. I personally have never and would would never hide the fact that I am interested in leasing a vehicle from the salesperson who I am negotiating with. Misleading anyone in negotiations usually does not help matters. However, I definitely would and always do negotiate the price of the vehicle that I am leasing, just as if I was paying cash for it. It's silly not to know what you are paying for the vehicle that you are getting. The only difference between negotiating a sale price on a vehicle that you are paying cash for and one that you are leasing is that the available cash incentives may be slightly different on a model that you are leasing through a manufacturer's captive finance company. Even so, I can always fill you in on any available lease cash incentives that may be used to reduce your vehicle's negotiated price.
As far as disposition, lease termination, or turn-in fees go, many banks do indeed charge them. These fees are often waived though for consumers who lease another vehicle through the same bank.
No problem, boo20. I believe that pre-paid leases are actually different than making a large down payment on a leased vehicle in that consumers usually do receive a refund for the unused portion of their pre-paid lease if their vehicle is stolen and never recovered or totaled. If this is indeed the case, then I certainly do not have a problem with pre-paying a lease, provided the incentive for doing so in terms of a reduced interest rate is large enough.
I would be more than happy to give you an idea of what Mercedes-Benz Credit Corp.'s lease program should be like on the 2004 S-Class right now, but I haven't seen any lease data for '04 Mercedes models yet. I suspect that they will publish a lease program for the new '04's when Mercedes introduces its June lease program in a couple of days. Please feel free to check back with me towards the end of this week and I should be able to shed a little more light on this subject for you.
Hello samiller45. You didn't mention what state you are in in your post, but it sounds to me as though you are in either New York, Connecticut, or Rhode Island. If this is the case, then many banks have indeed ceased leasing or are about to cease leasing vehicles to consumers in your area. These banks are concerned about the vicarious liability lawsuits that lease contracts leave them susceptible to and have switched to writing balloon notes, where the driver's name appears on the vehicle's title instead of theirs, until these states pass laws that limit their liability. Balloon notes are actually fairly similar to leases, in that they provide consumers with low monthly payments and offer than a large purchase option at the end of a specific period of time. The main differences between balloon notes and leases lie in how they are calculated, the name of the individual or organization on the title, and some tax issues.
Thanks for the kind words, mzinzi. Saab's May lease program is only scheduled to run through June 2nd. I have not had an opportunity to take a look at its June program yet, but suspect that I will within the next couple of days. Please feel free to check back with me towards the end of the week with a quick reminder and I should be able to answer any questions that you have on it. Talk to you soon.
Hello Carman, I am finally going to get my X5 4.4 this month but I wanted to know the residuals and money factors from BMW financial services for June. I am looking to lease for either 36 or 42 months, with mileage of either 10,000 or 12,000 miles per year.
I would be happy to fill you in on the details of this car's current lease program, tcmotorcity. If you were to lease a 2003 Acura TL through American Honda Finance Corp. for 3 years with 15,000 miles per, on or before June 2nd, its base lease money factor and residual value should be .00093 and 56%, respectively. The lease money factor for an otherwise identical 39 month lease of this car would be exactly the same, but the residual value would fall to 53%.
Hello Tammyb6. BMW's May lease program runs through today, June 2nd. As a result, I have not seen its new June numbers yet. I suspect that I will have an opportunity to take a look at them within the next couple of days. Please check back with me towards the end of this week with a quick reminder and I should be able to help you out. Talk to you then.
Hope somewhere here knows something about purchase and transfer at the end of lease. My parent's lease is up and the purchase price seem pretty good. They don't want the vehicle, but would consider purchasing it and transfering the ownership to my wife and I.
My questions, (1) should we tell the leasing company up front so that they can change the name and title in one transaction, (2) if they purchase and then we buy it from them, is the sales tax going to have to be paid twice.
Any recommendations on how we should proceed with a purchase and transfer without duplication of costs and fees?
I was looking into leasing a 2003 Honda Pilot, but the dealer quoted me a money factor of .0022 on a 12,000 mile 36 month lease with a 61% residual. I thought that was high and wanted to know if that is the real money factor. Thanks.
Check with your local DMV.. In my state, transfers between direct family members (brother, sister, father, son, etc) are tax free. You only pay a nominal registration fee. If thats the case where you live, Your father could purchase the car from the finance company (saving the disposition fee), register it and pay the tax, then transfer to you. That would be the easiest, as it would leave the leasing company out of the transaction between you and your father. You could then reimburse him for the sales tax.
Before your father just pays for the vehicle, he might check with someone up the ladder about lowering the purchase price below residual. If they think he's going to turn it in otherwise, they may lower the price.
It's that time again. . . my lease on my 2000 Lexus GS300 Platinum edition will be due in the next 45 days. (you actually gave me the Lexus ### as well when I negotiated that!!)
I'm looking at the 2003 Range Rover. MSRP is $73,365 (California).
Can you please provide me with the Residuals and MF's for 36 / 39 / 42 / 48 months??
I recognize that the general consensus is that only 36 and 48 months is recommended since I don't loose any further $$ on unrealized car registration fees, but it seems like captive finance companies have given better MF's on these odd terms -- at lease on my Lexus they did!
Anyway, thanks again in advance for the second time!!!
Hi everyone. As many of you are already aware, most manufacturers' were scheduled to introduce new lease programs on or around June 3rd. I just wanted to let all of you know that I am in the process of looking around to see what these companies' new June programs are like. If you have specific questions on a vehicle or vehicles lease programs, please check back with me with a post describing the info that you are looking for towards the end of the week. I should have had an opportunity to take a look at a lot of the new programs by then. Talk to you soon.
CarMan. I am Looking for a Honda Pilot EX L with DVD or Without on a 36 month 12,000 mile per year lease. The dealer quoted me a .0022 money factor with a 61% residual. Is this a straight Money Factor. Also, which manufacturers are offering the best 36 month leasing programs. Thanks.
Ok- I have someone who may be willing to assume my lease on a 2001 Audi A6. The question I have is that Audi Financial Services (VW finance) informed me that I was able to add someone to the lease, but that my name would need to remain. I'm not thrilled about this, but is there anything I could do? There are 17 months at $479/month, with 15,000 miles a year allotment. Currently well below those mumbers. My payoff is currently about $4k higher than the car's private party value. Thanks!
About to get a A6 4.2 either buy or lease so any info you get give me on these rates, money factors and residuals would be helpful. I'm a current A6 lessee so I will be getting the Audi loyalty money also. thanks.
I am looking for a BMW 325 or 330 with CP, PP, SP, Auto, and Xenon headlights. I will be trading in my 325i Convertible which has ~68K miles on it.
Will a dealer take my trade in if I decide to lease instead of finance the new car? I was at the dealership yesterday and the salesman said they are offering 1.9% APR on leases. What would the money factor on that be?
Hi Carman...Can you please give me the MF and residuals on a BMW 2004 325Ci for 36 months and 12K/year for the month of June? Planning to take delivery of my ordered BMW and want to see if the numbers have changed in my favor. Thanks for your help.
Please indulge me one more time car_man. Earlier you stated that it is not wise to put a large down payment on a lease because in the event the car is totaled or stolen that the insurance co will simply pay off the leasing co and you will be left without any equity. But also that it's OK to prepay a lease. Well if you prepay the lease are you not merely paying the depreciation ahead of time (as well as interest on the residual) which amounts to a large down payment? I don't understand the difference.
I will be taking delivery of an 03 525 very soon and was wondering what BMWNA June numbers were for a 12k/36 month lease on this car. Can you help me out when you get a chance?
Carman - First, since you've replied to questions about at least 10 different cars I've looked at, thanks for all the effort you put into this and for providing a truly valuable web resource.
Now ... have you seen the June program for Acura TSX? Manual no nav 15K/year, 36 mos. If you have it, MF and RV% would be great.
I thought I would get this done in May but got delayed for a month - but I promise I will sign the lease paperwork on the TSX this weekend...
Hi jseven. Honda is not currently providing any sort of lease support on the 2003 Pilot. So if you were to lease one through American Honda Finance Corp. this month, you would have to use its standard lease money factors. I have not seen if Honda has made any changes to its standard lease money factors for June. The last that I heard, its base standard lease money factor for 3 year terms was .00210. This standard factor would increase to .00220 if you were to waive the lease security deposit. As one might suspect, the residual value that you were quoted is right on the money.
As far as attractive lease programs go, both Audi and BMW have some pretty attractive lease money factors this month. Still, banks' lease money factors vary from model to model, and there are so many models out there that it is difficult to generalize about which "manufacturers are offering the best 36 month leasing programs" at this time. If there are any other vehicles that you are interested in, I would be happy to tell you which one currently has the most attractive lease program.
No problem, dave_h2. Let's take a look at the lease programs for the vans that you are interested in. Honda is not currently providing any sort of lease support on the 2003 Odyssey. So if you were to lease one through American Honda Finance Corp. this month you would have to use its standard lease money factors. I have not seen if its base standard money factors have been revised for June yet, but in May AHFC's std. factor for 3 year terms was .00210. The corresponding 15,000 miles per residual value for a 2003 Honda Odyssey EX-L with RES should be 59%.
As far as the 2002 Mazda MPV, if you were to lease one through Mazda's captive finance company this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00165 and 45% for the ES and 46% for the LX.
Comments
Car_man
Host
Smart Shoppers / FWI Message Boards
Car_man
Host
Smart Shoppers / FWI Message Boards
Car_man
Host
Smart Shoppers / FWI Message Boards
Car_man
Host
Smart Shoppers / FWI Message Boards
Car_man
Host
Smart Shoppers / FWI Message Boards
Car_man
Host
Smart Shoppers / FWI Message Boards
Car_man
Host
Smart Shoppers / FWI Message Boards
As far as disposition, lease termination, or turn-in fees go, many banks do indeed charge them. These fees are often waived though for consumers who lease another vehicle through the same bank.
Car_man
Host
Smart Shoppers / FWI Message Boards
I would be more than happy to give you an idea of what Mercedes-Benz Credit Corp.'s lease program should be like on the 2004 S-Class right now, but I haven't seen any lease data for '04 Mercedes models yet. I suspect that they will publish a lease program for the new '04's when Mercedes introduces its June lease program in a couple of days. Please feel free to check back with me towards the end of this week and I should be able to shed a little more light on this subject for you.
Car_man
Host
Smart Shoppers / FWI Message Boards
Car_man
Host
Smart Shoppers / FWI Message Boards
Car_man
Host
Smart Shoppers / FWI Message Boards
Would you please tell me the money factor and residual % for 36 & 39 mo. 15K leases for the TL-S that expire today? Thanks.
I am finally going to get my X5 4.4 this month but I wanted to know the residuals and money factors from BMW financial services for June. I am looking to lease for either 36 or 42 months, with mileage of either 10,000 or 12,000 miles per year.
Thanks for your help,
Tammyb6
Car_man
Host
Smart Shoppers / FWI Message Boards
Car_man
Host
Smart Shoppers / FWI Message Boards
Thanks for getting back to me so quickly. I will remind you at the end of the week.
Talk to you then,
Tammyb6
My questions, (1) should we tell the leasing company up front so that they can change the name and title in one transaction, (2) if they purchase and then we buy it from them, is the sales tax going to have to be paid twice.
Any recommendations on how we should proceed with a purchase and transfer without duplication of costs and fees?
Thanks,
Now that the "witching hour" of June 2 has come and gone - is there any info on what this months numbers will be?
I am specifically looking on lease numbers for these two vehicles:
Honda Odyssey EX-L with RES
and
the Mazda MPV (also with RES)
as soon as you can find out, what is the money factors and resale values (so that I can be armed with potential payment info).
Thanks in advance.
Thanks.
Is the 39mo/39k residual and money factor same as 36mo/36K also 61%?
Thanks in advance.
A dealer in NJ is quoting me $550 per deposit where as other posts are paying $450 per deposit. Is this state specific?
hope this helps,
kyfdx
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
Before your father just pays for the vehicle, he might check with someone up the ladder about lowering the purchase price below residual. If they think he's going to turn it in otherwise, they may lower the price.
regards,
kyfdx
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
If this has been asked already, please excuse my duplication.
Could you give me the Money Factor and Residual on the BMW 325i and 330i for a lease term of 36 months with 15,000 miles/year?
I would greatly appreciate it.
Thanks,
Alan
kyfdx
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
It's that time again. . . my lease on my 2000 Lexus GS300 Platinum edition will be due in the next 45 days. (you actually gave me the Lexus ### as well when I negotiated that!!)
I'm looking at the 2003 Range Rover. MSRP is $73,365 (California).
Can you please provide me with the Residuals and MF's for 36 / 39 / 42 / 48 months??
I recognize that the general consensus is that only 36 and 48 months is recommended since I don't loose any further $$ on unrealized car registration fees, but it seems like captive finance companies have given better MF's on these odd terms -- at lease on my Lexus they did!
Anyway, thanks again in advance for the second time!!!
Mac
For the quotes, please include MF's and Residuals for 10k and 12k / annually.
Thanks again,
Mac
2003 Odyssey LX
$249 + tax per month
48 months
$0 down
12,000 miles per year
$300 doc fee
Car_man
Host
Smart Shoppers / FWI Message Boards
I've posted my requests here already, so I am confident you will do your best to answer them when you know more.
Will a dealer take my trade in if I decide to lease instead of finance the new car? I was at the dealership yesterday and the salesman said they are offering 1.9% APR on leases. What would the money factor on that be?
Thanks very much.
Can you please provide the residual and MF for 12K miles for 36 & 39 months on the following:
Toyota Highlander V6 AWD
Nissan Murano SL AWD
Gregg
would you share the lease numbers for the new VW Toureg when you get them?
thanks
First, since you've replied to questions about at least 10 different cars I've looked at, thanks for all the effort you put into this and for providing a truly valuable web resource.
Now ... have you seen the June program for Acura TSX? Manual no nav 15K/year, 36 mos. If you have it, MF and RV% would be great.
I thought I would get this done in May but got delayed for a month - but I promise I will sign the lease paperwork on the TSX this weekend...
Thanks!
Squirrel
Mazda6s - 12k/15k - 3yr
and
Nissan Maxima SE - 12k/15k - 3yr
Many thanks!
As far as attractive lease programs go, both Audi and BMW have some pretty attractive lease money factors this month. Still, banks' lease money factors vary from model to model, and there are so many models out there that it is difficult to generalize about which "manufacturers are offering the best 36 month leasing programs" at this time. If there are any other vehicles that you are interested in, I would be happy to tell you which one currently has the most attractive lease program.
Car_man
Host
Smart Shoppers / FWI Message Boards
As far as the 2002 Mazda MPV, if you were to lease one through Mazda's captive finance company this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00165 and 45% for the ES and 46% for the LX.
Car_man
Host
Smart Shoppers / FWI Message Boards