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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings eggend. Let's take a look at the current lease programs for the models that you are interested in. If you were to lease a 2004 Audi allroad 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 .00180 and 60%, respectively. If you were to lease a 2004 Volkswagen Touareg V6 through VW Credit this month for 3 years with 12,000 miles per, its base factor and residual should be .00200 and 56%, respectively. Last but not least, if you were to lease a 2004 Volvo XC90 2.5T AWD through Volvo Finance this month for 3 years with 12,000 miles per, its numbers should be .00345 and 57%. As you can see, Volvo's lease program on the XC90 is not very attractive. According to what I have heard, more than 90% of the consumers who lease this model do so through banks other than Volvo Finance.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi multiplechoice. I still haven't been able to find out if Toyota has changed its standard lease program for the month of September yet. Please check back with me mid-week and I will let you know if I have been able to find anything new out. Sorry for the delay.

    Car_man
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  • gmanusmcgmanusmc Member Posts: 699
    Sorry to be a pest CarMan...have you had a chance to check for the info in post 7805 yet?

    Thanks!!

    Bill G
    2016 ES350 Lux/Atomic Silver
    2017 Accord Sport CVT Mod Steel Metallic
  • liannellliannell Member Posts: 47
    Car_man,
    I just dropped the new Sept terms into my lease calculation spreadsheet, and am shocked at the new payments. For the BMW, the monthly payment on a 2003 model is about $30/mo more than it was last month. And for the 2003 Audi, it’s about $50/mo more! I noticed that the increase in MF is pretty much offset by the dealer cash incentive, but it’s the drop in the residual value that is wreaking havoc.

    And what’s even more astonishing is that the 2004 models are now cheaper to lease than the 2003s (even after accounting for the fact that the negotiated purchase price won’t be quite as good). Shouldn’t I expect that the 2003 models should be cheaper since they’re trying to get rid of them and make room for the 2004s? Where is the flaw in my logic?

    LianneLL
  • hooopshooops Member Posts: 64
    Hi Car_man,

    Thanks very much for the numbers. I'm not interested in the 1.8T for the Jetta Gl/GLS, but just the vanilla 2.0L models. Are the numbers (money factor/residual) for those models on a 36 month / 15k miles/year lease ?

    While you're at, could you also give me the numbers on a Chevrolet Suburban LT 1500 - 36
    month 15k miles/year lease ? We're also getting
    ready to lease a new family car.

    Thanks again
  • pgillpgill Member Posts: 84
    Thanks Car_Man. I confirmed your information through my dealer. Unfortunately, even with the dealer cash, the lease payments through BMW FS comes up higher than they were in August. My dealer works with Chase and through them, the lease numbers came close to August lease. Why do car manufacturers replace favorable lease terms with cash at the very end of a model year? I noticed both Acura, BMW, and Audi did that...

    Thank you for your help...I think you provide a valuable (and free) service to Town Hall members.
  • tmn39tmn39 Member Posts: 9
    Hi Carman, could I trouble you for the new September Audi Finance lease MF and Residual on the 2004 S4 for the following 10k/39 and 10k/42 in Florida. And what the pretax payment would be with a MSRP of 49850 and a 1000 deposit.Thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Bill. I have seen GMAC's current lease rate for the 2004 Chevrolet Corvette. It is 6.75% for 24 to 48 month terms. I have not seen this car's residual values yet though. Again, given the fact that GM is really not providing any lease support on this car, you may be better off leasing one through a bank other than GMAC.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi liannell. Here is the current lease program for the latest car that you are considering. If you were to lease a 2003 Infiniti G35 Sedan through Infiniti Financial Services this month for 36 months with 15,000 miles per, its base lease money factor and residual value should be .00156 and 56%, respectively. The numbers for an otherwise identical 39 month lease of a 2003 G35 Sedan should be .00156 and 55%, respectively. As far as the 2004 Infiniti G35 Sedan goes, its 36 month 15k numbers should be .00200 and 57% and its 39 month numbers should be .00200 and 56%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I am glad that you enjoy this discussion so much, cc3z. Infiniti Financial Services' base lease money factor for the 2003 Infiniti G35 Coupe is still .00200. If you are being quoted anything higher than that, then the dealership that you are working with is marking up IFS base rate to add additional profit to your deal (unless you are having the security deposit waived). The 36 and 39 month 15,000 miles per year residual values for this car are currently 55% and 54%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey metmdx. I did spend some time looking into the latest lease programs, but still managed to get outside and enjoy the weather :). I love the fall. Unfortunately, I still have not seen Toyota Financial Services' standard lease program yet. It is always a tough one to get a hold of. I'll keep digging and hope that I'll have something on it by mid-week.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    LianneLL, I am not surprised that the lease payments for these 2003 model year cars are higher now than they were last month. Many vehicles become much more expensive to lease at the end of the model year than they are at the beginning because of the drop in residual values that they experience. In fact, it is not uncommon for new models, i.e 2004 models, to cost less to lease than the prior model year's vehicles because of their higher residual values. This is a byproduct of the natural decline in vehicles' residual values as the model year progresses. This is one of the reasons why BMW and Audi replaced their special lease money factors on these products with dealer cash. When they didn't have any sort of cash support on these cars, consumers had to lease them to take advantage of the support, but now consumers can take advantage of the dealer cash and do not have to lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I see hooops. Fortunately, the numbers for both the 1.8T and the 2.0L Jettas are exactly the same, so the information that I provided you with earlier is OK.

    General Motors' lease program on the Chevrolet Suburban is nothing to write home about. If you were to lease a 2004 Chevrolet Suburban LT 4WD through General Motors Acceptance Corp. this month for 3 years with 15,000 miles per, its base lease money rate and residual value should be 6.5% and 54%, respectively. As you can see, GMAC publishes lease interest rates instead of money factors for the vehicles that it leases. Divide this lease rate by 2400 to convert it into an approximate money factor. If I was in the market for this truck, I would probably take advantage of GM's consumer cash or special financing rates rather than lease it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, Pgill. Vehicles' residual values naturally decline as the model year progresses. As some point late in the model year, it just becomes too expensive for manufacturers to support lease money factors enough to maintain similar lease payments to what they were offering earlier on in the model year. So, they usually replace the lease money factor support that they were providing with dealer cash and encourage consumers to pay cash for leftover models, or finance or lease them through an outside lending institution.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello tmn39. Here is the information that you are looking for. If you were to lease a 2004 Audi S4 Sedan through Audi Financial Services this month for 39 months with 10,000 miles per year, its base lease money factor and residual value should be .00190 and 54%, respectively. I have not seen this car's 42 month numbers, but its 48 month numbers are .00195 and 48%. In order for me to calculate a sample lease payment on this car for you, I need you to provide me with its selling price. Once I have this additional information I will let you know what its approximate monthly payment should be.

    Car_man
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  • metmdxmetmdx Member Posts: 270
    Car_man:
    Glad to hear you got some r&r in.
    I'll check back later in week. In meantime, if your run across the info, I'll be lurking....
    tia,
    metmdx
  • tmn39tmn39 Member Posts: 9
    Car_Man:
    Thanks for the numbers on the S4 for September. The MSRP and sell price on the S4 I'm looking at is $49840.00
  • aleksd1aleksd1 Member Posts: 37
    Car man,
     Do you know residuals for 2003 or 2004 Infiniti FX35 AWD(with Premium Package)?
    Thanks,
     Alex
  • friendinthebizfriendinthebiz Member Posts: 31
    Adding to the info in post #7826, Corvette residuals are - 62% for 24 months
                    58% for 30 "
                    55% for 36 "
                    48% for 48 " all at the 6.75
    money factor Car_Man published. These rates and residuals effective 9/03/03 to 9/30/03
  • mookie14mookie14 Member Posts: 252
    a big question me and my wife signed on the 2000 exploder. well now we have some $$$ problems. i called a attorney and he said that since we have over mileage fees it could be included in her chap 7. is that true?? seeing that i am on the contract also would ford go after me also? or is it better to pay it? something like $3500.00 she is the primary person on it so i guess or????
  • jeffreyb2jeffreyb2 Member Posts: 5
    Car_man:

    In my post earlier this month:

    "Could you provide the current money factors and residuals for 24 and 30 months with 12,000 miles per year for a 2004 350Z Touring Roadster with a list price/selling price of $37,000. I live in NY and would go with $0 down payment."

    You indicated you would try and get Nissan's new program numbers. Have you had any luck as of yet?

    Thanks!

    Jeff
  • bowke28bowke28 Member Posts: 2,185
    i used to be a lease dept. manager of a dealership. ford will work with you, since even a portion of the charges will be better than a BK7. they should be a priority, and here's why: even after your bankruptcy, ford will still let you borrow money for a vehicle if you've paid them, no matter how bad the rest of it is. bite the bullet on the exploder, and you wont have to buy a $2000 beater every year.
  • landru2landru2 Member Posts: 638
    I don't think he's worried about driving a beater. I believe he posted that he recently bought a brand new GM SUV.
  • tre6tre6 Member Posts: 4
    car_man

    I am looking at leasing a 2004 Volvo S60R for 36 months 15k/year. Dealer says Volvo's lease rates are not good and go with Chase. He quoted a residual of 52% for 36 months 15k/year, Lease factor .0025 and an acquisition fee of $795. I thought he was insane! He also tells me the car is hot and will not sell for under MSRP. If this is true, I will NOT buy this car (or any other Volvo). What are the real numbers? If these numbers are real, is there another lease source I can try on my own?
  • pfjepfje Member Posts: 25
    Hi Car_man,

    I have been quoted the following for a FX35 Technology Package:

    39 months 15,000 a year with a cap cost of $42,600 and a residual of $22,611.05

    $647.20 a month with $2,777.20 due at delivery
    or
    $705.15 a month with only 1st payment due at delivery

    What do you think? I live in Maryland.
    Thank you for your assistance.

    Bill
  • trickydicktrickydick Member Posts: 37
    I'm looking to lease a 2004 Acura TSX in New Jersey. For a 48 month, 12,000 miles lease, I've been quoted $1500 down and $338.55/month. I was told the $1500 includes everything (e.g., taxes, plates, first month, etc.). Does that sound fair? Do you need more information?
  • trickydicktrickydick Member Posts: 37
    I'm a real lease novice and don't fully understand most of the concepts and terms you use on this site and how they affect the lease and its monthly payments. Is there a book or article that you can recommend...a sort of Leasing for Dummies? Thanks!
  • hooopshooops Member Posts: 64
    Car_man - thanks again for all the info (jetta, passat and suburban numbers) you provided me with. I forgot to specify the year of the suburban in my last message to you. I'm looking for the money factor and residual for a *2003* Suburban LT 1500. I figure I can a get better deal on a 2003 with the $4500 incentive being offered by GM.

    Thank you for all your help.
  • boo20boo20 Member Posts: 85
    I am still waiting for an answer from bowke28 (post 7793) as to why the buyer is being charged interest on MSRP + residual value rather than selling price + residual value. I want to know why the he thinks it's OK for the buyer to pay interest on money he, himself, is putting down and has negotiated off the price of the vehicle.

    If every single member on edmunds does not understand this simple concept they are going to get ripped off when they try to lease a car.
  • topgun7topgun7 Member Posts: 412
    Hello Car_man,

    I am interested in either a 04 ES330 or a Toyota Solaras (XLE V6) with or without the Nav. What is the money factor and residual for a 48 months, 15k Mi per year lease? Also in the past, Lexus allow multiple deposit to lower the money factor (up to 9 deposit). Do they still allow mulitple deposit now and how many? Do Toyota allow mulitple deposit? thanks.
  • mookie14mookie14 Member Posts: 252
    i got a 03 tblazer i will never buy a ford again plus i have 1 last pymt i think i might do a chap 7 on that. will it work plus will they go after me well we have $$$ problems so what do you think.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks, metmdx. Talk to you soon.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, tmn39. Let's work up a sample lease payment on this car. According to my calculations, if you were to lease 2004 Audi S4 Sedan through Audi Financial Services this month for 39 months with 10,000 miles per year, its zero down, pre-tax monthly lease payment should be right around $734 or so. The payment for an otherwise identical 48 month lease would drop to around $684.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello Alex. In order for me to give you an idea of what Infiniti's lease program is like on this model right now, I need you to tell me how long you plan on leasing it for and how many miles per year you need to be able to drive it. Once I have this additional info I should be able to help you out. Thanks.

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  • jas413jas413 Member Posts: 13
    Hi. Car Man. Please provide me with the M.F. & residual values for the 2004 ES & Volvo S60 2.4 on a 15K/36 month lease. Thanks for all your hard work and assistance to all of us!
  • djdezdjdez Member Posts: 119
    Car_man .. I gotta bother you ONCE more regarding these 2 vehicles !!!

    The 'come on' ad is running in the paper again .. showing the M45 lease for $299/mo for 39 months (with $3500 cap reduction) which would basically make it around $390 a month with $0 cap reduction ...

    They are also showing a G35 lease with the same terms for $269 a month -- and it supposedly has the moonroof and premium package .. but, that could be either a lie or false advertisement .. in any event, that would make a G35 around $360 a month with $0 down .. not too bad !

    I remember you saying they lowered the money factor on the M45, but you didn't tell me what it was. Also, what are September's Residuals and Money Factors on the M45 and G35 for this IFS advertised lease of 39 months with 10,000 miles (as stated in the ad) ??

    So, how is this possible ? Are those CLOSING CERTIFICATES you told me about still available on the M45, and possibly even the G35 and I35 (they said savings up to $4000 on the I35)??

    Thanks ... AGAIN Car_man !!
  • bowke28bowke28 Member Posts: 2,185
    first, the money factor IS used on the entire MSRP. reason: you must pay taxes on everything from MSRP...even dealer discounts and manufacturer rebates. EVERYTHING is figured from MSRP, from taxes to the money factor, to the residual value. ive been in the automobile business for 4 years, 3 of them in charge of leasing and renewals. I dont charge people the money, there is a universal computer program that dealers use called "lease-link". this does all the calculations on its own...dealers cant change it. it also automatically downloads the banks' MFs and residuals daily.

    like i said in my last post to you...the only accomplishment you get when putting money down is lowering your base payment. this is why financial advisors reccommend putting NO money down on a lease. negotiating price and taking manufacturer rebates DO accomplish saving you money, but its not in the money factor.
  • aleksd1aleksd1 Member Posts: 37
    Car_man, I'm interested in 36 and 48 month lease with 12k per year. If you have info on 2004s, please let me know too.
     Thanks
  • kyfdxkyfdx Moderator Posts: 265,554
    money factor has nothing to do with MSRP... only with cap cost and residual.. Please do not keep spreading this misinformation.. I'm sure Car-man can set you straight on this, if you direct your comments to him.

    regards,
    kyfdx

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • jeffmust2jeffmust2 Member Posts: 811
    "...first, the money factor IS used on the entire MSRP. reason: you must pay taxes on everything from MSRP...even dealer discounts and manufacturer rebates. EVERYTHING is figured from MSRP, from taxes to the money factor, to the residual value."

    Edmunds own text on 'how-to-figure-your-lease" notes that cap cost is the figure used - not MSRP.

    And I've leased a half-dozen vehicles in the last ten years and it's the same every time - the money factor is multipled by the total of two numbers:

    1. The residual amount at end of lease term
    2. The capitalization or "cap" cost - i.e., the
    amount negotiated below list or MSRP

    True, the MSRP is multiplied by the lessor's percentage to get the residual number - but it's not directly involved in the money factor calculation above.

    As for DMV or tags or registration or whatever it's called in your particular state, that probably is figured on MSRP in many states just because it's easier and less subject to figure juggling. States don't like "grey" areas when it comes to their funds collections.

    But as for money factor, Bowke, you better check what's going on in that lease computer software program!
  • multiplechoicemultiplechoice Member Posts: 113
    Hi Car-man, I'm hoping that you have had a chance to see the program for the '04 Sienna. 36mo/15k, 48mo/15k for the XLE and XLE Limited. (I'm in southern california) Thanks for all your help!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mookie14. I am sorry to hear about your financial problems. I hesitate to comment on your situation because I am not personally all that familiar with bankruptcy laws. However, I would think that if your name, as well as your wife's name, is on the lease contract for your Ford Explorer it is very likely that the bank that you are leasing it through will cone after you for the money that is owed to them if she files for bankruptcy.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Jeff. Thanks for taking the time to post your question again. I have had an opportunity to take a look at Nissan's new lease program. If you were to lease a 2004 Nissan 350Z Roadster through Nissan Motor Acceptance Corp. this month for 24 months with 12,000 miles per year, its base lease money factor and residual value should be .00220 and 68% for the Enthusiast / .00220 and 66% for the Touring. I have not seen NMAC's 30 month umbers for this model though.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello tre6. I don't doubt what your dealer said. I do not believe that Volvo is providing any sort of support on the 2004 S60 R right now. So if you were to lease one through Volvo Finance, you would probably have to use its standard lease program, which is not very good. You likely will be better off leasing this car through an outside lending institution. I doubt that you will be able to find a bank on your own that has a more attractive program than Chase's. As far as pricing goes, Volvo's R models are in very limited supply. I am not personally very familiar with the market for the S 60 R right now, but I would not be surprised if dealers were charging full MSRP for them. The Edmunds.com True Market Value for this car is listed as its full MSRP.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings pfje. I would be more than happy to work up a sample lease payment on the vehicle that you are interested in. However, in order for me to do so, I need you to provide me with its full MSRP and also tell me if you are getting the 2WD or AWD model. Once I have this additional information I should be able to help you out.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi trickydick. Welcome to the wonderful world of leasing. You definitely should read the following articles that are available right here at Edmunds.com prior to negotiating your lease: 10 Steps to Leasing a New Car, Leasing Glossary, and Calculate Your Own Lease Payment. As far as the Acura that you are considering leasing goes, I would be more than happy to work up a sample lease payment on it for you but I need a little more info from you first, like this car's full MSRP and its selling price.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, hooops. Interestingly enough, the only lease numbers that I have seen from General Motors are for 2004 models. Many manufacturers have stopped supporting leases on 2003 models. This may be the case with GM as well. If this is what happened, you would be much better off taking advantage of the generous consumer cash and special financing rates that are available on the '03 Suburban right now. In fact, this truck's lease program was never very good even when it was available because its interest rate was around 6.5% and it could not be used in conjunction with the normal cash incentives. You would save yourself a lot of money by financing it at 0.0% for 5 years or by using the cash.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi topgun7. Here is the information that you are looking for. If you were to lease 2004 Lexus ES 330 without navigation through Lexus Financial Services this month for 4 years with 15,000 miles per, its base lease money factor and residual value should be .00200 and 48%, respectively. I do not believe that Toyota is providing any sort of support on the 2003 Solara right now. So if you were to lease a 2003 Toyota Solara XLE V6 through Toyota Financial Services this month for 4 years with 15,000 miles per, its base factor and residual should be .00220 and 45%. I have not seen the numbers for the all new '04 Solara yet.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, jas413. If you were to lease a 2003 Volvo S60 2.4 through Volvo Finance this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be an amazingly low .00004 and 52%, respectively unless you are getting the base model which has a slightly higher factor. If you were to lease a 2004 Lexus ES 330 without navigation through Lexus Financial Services this month for 3 years with 15,000 miles per, its base factor and residual value should be .00200 and 57%.

    Car_man
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  • jas413jas413 Member Posts: 13
    Thanks Car Man! Do you have the M.F. & residual for the 2004 Volvo S60 FWD? My local dealers do not have any 03's left. Thanks.
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