Lease Questions - Ask Here

CarMan@Edmunds · June 2003

Hi gold233790. Different banks have different policies on the assumption of leases. Some banks like American Honda Finance Corp. don't allow lease assumptions at all. Unfortunately, Audi Financial Services has the ultimate say about whether they will allow you to have someone else assume your lease.

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CarMan@Edmunds · June 2003

Hi petrie3. In order for me to give you an idea of what the lease money factors and residual values for this car should be like, I need you to tell me how long you plan on leasing it for and how many miles per year you need. Once I have this additional information, I should be able to help you out. Talk to you soon.

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CarMan@Edmunds · June 2003

Greetings pfgenius. Dealerships will indeed accept trade-ins from consumers who are leasing new vehicles. However, if you are going to trade your vehicle in, I suggest that you try to get them to cut you a check for its value rather than applying that money as a down payment for your lease. I am not a big fan of putting a lit of money down on leased vehicles. I say this because if your leased vehicle is stolen and not recovered or totaled in an accident during your term, your insurance company pays off the bank that you are leasing it through and your down payment essentially disappears.

As far as this car's specific lease money factors and residual values for June go, I would be more than happy to give you an idea of what they should be like. However, first I need you to tell me how long you are planning on leasing it for and how many miles per year you need to be able to drive.

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CarMan@Edmunds · June 2003

Hello madmanager. Here is the information that you are looking for. If you were to lease a BMW 2004 325Ci through BMW Financial Services this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00220 and 64%, respectively. I believe that these numbers are basically the same as they were in May.

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CarMan@Edmunds · June 2003

Hey boo20. I believe that pre-paid leases are different than making large down payments on leases, in that banks usually refund the unused portion of the pre-paid lease if vehicles are stolen or totaled. So I personally do not have any problem with pre-paid leases, provided that the discount for pre-payment is large enough to warrant tying up the money for a couple of years.

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CarMan@Edmunds · June 2003

Hi jseven. Here's the info that you're searching for. If you were to lease a 2003 Audi allroad through Audi Financial Services this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be an attractive .00080 and 59%, respectively. The numbers for an otherwise identical 4 year lease should be .00090 and 51%.

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CarMan@Edmunds · June 2003

Good morning rhodes3. Let's take a look at this car's lease program. If you were to lease a 2003 BMW 525i through BMW Financial Services this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00120 and 59%, respectively.

In case you are interested, BMW introduced some very attractive special financing rates on many models for June. They are currently offering 1.9% special financing for up to 60 months on all 2003 5-Series models, excluding the M5.

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CarMan@Edmunds · June 2003

Hey Gregg. I haven't seen Toyota's June lease program yet, but if you were to lease a 2003 Nissan Murano SL AWD through Nissan Motor Acceptance Corp. this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00216 and 56%, respectively. The numbers for an otherwise identical 39 month lease of this vehicle should be .00216 and 55%.

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CarMan@Edmunds · June 2003

Hi knockoff. I have seen Volkswagen's June lease program and they have not published any residual values for the Toureg yet, which by the way looks like an outstanding vehicle. It's difficult to say when they will publish lease data for it. Please feel free to check back with me towards the end of the month and I will let you know if I have heard anything.

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CarMan@Edmunds · June 2003

Hi again Squirrel. Still haven't decided upon a vehicle yet, huh

? I know the feeling, there are so many neat vehicles out there it's tough to pick just one. Acura still is not providing any sort of lease support on the 2004 TSX, and I don't expect them to for quite some time. 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 Acura has changed its standard lease money factors for June yet, but according to the last program that I saw, AHFC's base lease money factor and residual value for a 3 year, 15,000 miles per lease of the 2004 TSX without Navigation were .00220 and 63%.

On a related note, what have you found the market for the TSX to be like right now? I suspect that most dealers are still selling them for relatively close to full MSRP.

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CarMan@Edmunds · June 2003

Hi clone2. Hi clone2. (get it? I know it was bad, but I couldn't resist

). Here is the information that you're looking for. If you were to lease a 2003 Mazda 6s 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 .00160 and 44%, respectively. Its 12,000 miles per year residual value would increase to 46%.

If you were to lease a 2003 Nissan Maxima SE through Nissan Motor Acceptance Corp. this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00116 and 51%, respectively. the residual value for a 12,000 miles per year lease for this term should be 52%. Let me know if you are interested in the 2004 version of this car and I will fill you in on the details of its lease program.

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jseven · June 2003

Thanks CarMan. I got a quote from an Audi dealer on a 2003 Allroad. 39 months, 12,000 miles per year, .008 Money Factor and a 57% residual. From the numbers you gave me above this sounds right on the money.

djdez · June 2003

Carman, first of all - thanks for EVERYTHING you do for all of us here -- we're all better consumers because of it !!!

Wow, that seems like a really HIGH residual for the TSX - 63% ? Could that be right ? On cars.com, the ALG residual is only 58% for the non-navi Automatic model. The money factor is a bit high though ...

carman, I was interested in the 2004 Maxima values for the SL model, if possible. 3 years/12,000 mi per year ..

And also, since the TSX might not be worth it just yet, a leftover 2003 TL, Type S is appealing to me... not the base 3.2 TL. Same criteria, 3 years/12000 mi per year. I still have a few months to go on my lease, so I'm waiting to see what will happen, it's a 2001 CL ...

g17 · June 2003

Hey car_man,

just wanted to get you opinion on some numbers from a dealer.

'03 C230k (C2, htd seats, auto, Cd changer)MSRP $32685...$795 down, $445/mo(INCLUDES NJ 6% tax) 39 months, 15K per year. I'm at work so I don't have the the nitty gritty numbers. Opinions? Car_man, anyone?

Thanks...

hartt · June 2003

Hi Car_Man.
Could you please provide me with the money factor and residual value for a 36 month lease with 15,000 miles a year on a Honda Pilot EX-L and a Mitsubishi Endeavour XLS-AWD?
Thank you for your help.

dmoberg · June 2003

Car_man -

I noticed in your earlier post that the June numbers for the Audi Allroad have improved somewhat. Have you seen the June numbers for the A6 Avant yet? Specifically, I'm interested in 39 months and 15,000 miles per year. Thanks.

mzinzi · June 2003

Hey CarMan!

Once again, you amaze me with your helpfulness!

I'm looking for the June numbers for a 2003 Saab 9-3 lease. Can you give me the MF and Residual for the Arc and Vector models, 12,000 miles, 36 months. Thanks in advance!

Matt

squirreljam · June 2003

First, Carman, thanks again for the great info. The market on the TSX has stayed pretty tight in the midwest, it seems mostly because of the low volume. There aren't many manuals on lots right now and most sell as they come in.

djdez - the 63% is indeed true and a fantastic residual - better than BMW (a residual leader), and makes the lease similar to my wife's Altima that cost several thousand less. I saw that percentage on dealer paperwork earlier this week so I know it's legit. The money factor is indeed high but still only about 5.2% (before "incentive mania" started, that would have been a screaming deal, cheaper than my mortgage).

Squirrel

nas43 · June 2003

Car_Man,

Could you tell me the June lease parameters for an Audi A4, 3.0, both quattro and non-quattro config for 36/12k?

Thanks!

mxpro738 · June 2003

Car_man:

You recently mentioned that BMW is offering 1.9% (up to 60 mo.) for select models.

Any idea what the list of eligible models is?

Thank you!

petrie3 · June 2003

Thanks for your reply CarMan. I'm looking to get an A6 2.7t or 4.2. Depending on the deal, I could either lease or buy it. Therefore, I'm interested in lease m/f and residuals for 36-48 month lease assuming 10k or 12k miles. Also, finance rates for 48-60 month loans from AFS on those models. I am in the Southern California region. Thanks again for your help.

lawman10 · June 2003

Carman can you please tell me is 650/month including taxes is a good deal on a 59month lease with 12kmiles and only 2k total out of pocket which includes first month. The prcie of the car is $57695 and I think they are selling it to me for $56695. Is this a good lease price? What should I pay?

lawman10 · June 2003

Carman I messed up it should be a 39 month lease not 59.....sorry.

mava · June 2003

Hi Car_Man. You may have missed my previous post so here it is. ..

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?? Also 12,000 miles and 15,000 miles, please.

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

clone2 · June 2003

Carman-

Once again, you da man. Yes, please give me the lease numbers for June on the 2004 Maxima SE for 36 mos/12k and 15k.

And isn't there another board for carman jokes? :-)

Clone2, Clone2

pfgenius · June 2003

Thanks for the help Car_man. I wouldn't have though to ask for a check up front. I am so glad I found this board before making any moves!

I am looking at a 330xi for 36 months and 15K miles a year, just to be safe. I've already been offered 5% of MSRP which is around $2,200. Is that a good offer?

Also is the 1.9 percent APR work for all 3 series? With such a low rate did they decrease the risidual value to up the payments?

jjgittes · June 2003

Any chance knowledgable persons could post the top 2 or 3 absolute best widely avaialable manuf. leases at the beginning of each month, and give a brief explanation of why they are good? That would be helpful, at least for me.

tammyb6 · June 2003

Carman,
I wanted to find out if BMW came out with the June numbers for the 2003 X5 4.4. I wanted to know the money factor and residuals for 36 and 42 months at 10,000 miles and 12,000 miles per year.

Thanx,
Tammyb6

stvchang · June 2003

Hey Car_man,
Thanks for all you do. Was wondering if you knew the June numbers (resid/mf) for the Acura TL non-navi and the audi A4 automatic 1.8T for
36mo/12K. Thanks.

330ifan · June 2003

Hi Carman,

What are the money factors in June for the 2003 330i and 540i?

What are the residuals for each assuming a 36 month lease and the following annual miles: 10,000, 12,000 and 15,000?

Also, were you able to confirm whether BMW of North America will pay the first month's lease payment?

Thanks as always.

ncjudge · June 2003

Car_man,
  Can you give me the June money factor and residual values on the '03 Saab convertible and the Audi A4 Cabriolet for 36 months/15k per? Any lease support or other incentives on those?

  If you could throw in the numbers for the Saab 9-3 Arc, that would be great.

  Thanks a lot for your good work.

CarMan@Edmunds · June 2003

No problem, jseven. I am glad that I was able to help you out.

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CarMan@Edmunds · June 2003

You're very welcome, djdez. Thank you for the kind words. That sure is the right residual value for the TSX. Attractive isn't it? Acura and Honda products traditionally have very strong residuals. In fact, AHFC's residual values are frequently higher than ALG's estimates for identical models.

Let's take a look at the current lease program for the 2004 Nissan Maxima for you. If you were to lease a 2004 Nissan Maxima SL through Nissan Motor Acceptance Corp. this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00168 and 56%, respectively.

As far as the 2003 Acura TL goes, if you were to lease one, either the TL or TL-S, without navigation through American Honda Finance Corp. this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00093 and 58%, respectively.

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CarMan@Edmunds · June 2003

Hello g17. I haven't seen the Mercedes-Benz lease program for June yet, so it is difficult for me to give you my opinion on your deal. I should have had a chance to take a look at it by mid-week. Please feel free to check back with me then with this car's full MSRP and selling price and I be more than happy to calculate a sample lease payment on one for you. Talk to you soon.

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CarMan@Edmunds · June 2003

Greetings hartt. Here is the information that you are looking for. If you were to lease a 2003 Honda Pilot EX-L through American Honda Finance Corp. this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be around .00210 and 59%, respectively. As far as the Mitsubishi Endeavor goes, if you were to lease a 2004 Endeavor XLS AWD through Mitsubishi's captive finance company this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00207 and 50%, respectively, assuming that you qualify for its top credit tier.

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CarMan@Edmunds · June 2003

Yes, I have had an opportunity to check out Audi's June lease program, dmoberg. I would be happy to help you out. If you were to lease a 2003 Audi A6 3.0L Avant through Audi Financial Services this month for 39 months with 15,000 miles per year, its base lease money factor and residual value should be .00075 and 50%, respectively.

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CarMan@Edmunds · June 2003

Thanks Matt. Let's take a look at the lease programs for the models that you are interested in. If you were to lease a 2003 Saab 9-3 Arc Sedan this month through Saab Financial Services Corp. for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00146 and 54%, respectively. The numbers for an otherwise identical lease of a 2003 Saab 9-3 Vector Sedan should be .00143 and 52%, respectively. When negotiating your lease on these cars, keep in mind that Saab is currently providing $2,000 lease cash on the 2003 9-3 Arc & Vector Sedans that may be used to negotiate lower capitalized costs.

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CarMan@Edmunds · June 2003

No problem, Squirrel. I am always glad to help.

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CarMan@Edmunds · June 2003

Hey nas43. I would be more than happy to help you out, but I am going to need a little of additional information from you first. Audi's current lease program on the 2003 A4 varies by region. What state do you plan on leasing this vehicle in? Once I have this additional info I will be able to help you out.

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CarMan@Edmunds · June 2003

Hi mxpro738. 1.9% special financing on BMWs certainly is very attractive. I can understand why my earlier post on this subject caught your eye. Right now the 1.9% financing for up to 60 months is available on the 2003 325Ci, 2003 325Ci Convertible, 2003 330Ci, 2003 330Ci Convertible, and all 2003 5-Series models excluding the M5. Several other BMW models have 2.9% financing for up to 60 months.

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CarMan@Edmunds · June 2003

No problem, petrie3. If you were to lease a 2003 Audi A6 2.7T through Audi Financial Services this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00050 and 54%, respectively. The numbers for otherwise identical 39 and 48 month leases of this car should be .00050 / 52% and .00060 / 47%. If you were to lease a 2003 Audi A6 4.2L through AFS this month for 3 years with 12,000 miles per, its base money factor and residual value should be .00160 and 55%, respectively. The numbers for otherwise identical 39 and 48 month leases of this car should be .00160 / 52% and .00170 / 48%. If you were to lease either of these cars with only 10,000 miles per year, increase the residual values that I just provided you with by 1%.

As far as Audi's special financing rates go, if you were to finance any 2003 A6 through Audi Financial Services this month you can do so at 1.9% for up to 60 months, provided that you qualify for the program.

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CarMan@Edmunds · June 2003

Hello lawman10. Ahhh, I just saw your second post. At first I was like, "A 59 month lease?!?!?!?!" Thanks for clearing that up

. The payment of $650 per month including tax with only $2,000 due at signing for a 39 month lease of this car that you were quoted sounds like an excellent deal to me.

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CarMan@Edmunds · June 2003

Hi Mac. I haven't seen if Land Rover has changed its lease program for the month of June yet, but its May program was originally scheduled to run through June 30th. According to that program, if you were to lease a 2003 Land Rover Range Rover through its captive finance company for up to 48 months, its base lease money factor should be .00272. The 15,000 miles per year residual values for this truck should be 54% for 36 months, 52% for 39 months, 49% for 42 months, and 47% for 48 months. The 12,000 miles per year residual values would be 2% higher.

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CarMan@Edmunds · June 2003

Clone2, I just flew in from the coast and boy are my arms tired. Thank you, I'll be here all week. Don't forget to tip your bartender

. OK, let's take a look at this car's lease program. If you were to lease a 2004 Nissan Maxima SE through Nissan Motor Acceptance Corp. this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00168 and 55%. The 12,000 miles per year residual value for this term would be 1% higher.

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CarMan@Edmunds · June 2003

You're welcome, pfgenius. If you were to lease a 2003 BMW 330xi through BMW Financial Services this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00150 and 59%, respectively. Take these numbers, along with this car's full MSRP and selling price, and plug them into the formula that is outlined in the following article to come up with an approximate pre-tax monthly lease payment: Calculate Your Own Lease Payment. I am not extremely familiar with the market for this car in your area right now, but I think that 5% under full MSRP is a decent deal on one.

The 1.9% special financing rate that I mentioned in earlier posts is not available on leases, only normal retail financing contracts through BMW Financial Services. Furthermore, this rate is not available on the 330xi. It is only eligible for 2.9% for up to 60 months.

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kevinjs · June 2003

Could you please supply me with the MF & residual rate for the 2004 325cic,and so as not to bother you, and to help others, is there a site to go to view these? Thanks Kevin

CarMan@Edmunds · June 2003

Hi Tammyb6. Yes, BMW has published a new lease program for this truck. In fact, it significantly enhanced the X5's lease program for June. If you were to lease a 2003 BMW X5 4.4i through BMW Financial Services this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00100 and 61%, respectively. The numbers for an otherwise identical 42 month lease should be .00100 and 52%. If you were to lease this model with only 10,000 miles per year, increase the aforementioned residuals by 1%.

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stvchang · June 2003

Hey Car_Man,

Just saw your earlier post for acura tl numbers so I guess I don't need those again... but as for audi, I'm in NY if that helps. Thanks.

fredmcmurray · June 2003

I'm looking for the residual and MF for a 36/36K lease on an Infiniti M45, as well as any known incentives in place. Thanks.

mxpro738 · June 2003

Car_man:

Thank you for the comprehensive answer to by original question re: BMW's 1.9% financing. You answer has prompted one last question: Is the BMW 330i on the list for the 2.9% financing? That is the specific model I am targeting.

Thanks for your time, and best regards.

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