Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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Car_man
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Thanks in advance.
As for the TSX, the car seems to be selling in NJ at MSRP, which is $26,490 plus $500 destination charge (without the navi). Hope this is enough info for you to help me. Thanks again!
That money factor IS lower than last months .. it was .00049 or .00064 (waiving the security deposit) .. should I assume that this month it would be .00032 with the security deposit, and .00047 with it waived ?? I see the residual only dropped 1% since last month.
And, when you say they DO have dealer $$$ available on the M45 .. is it the same deal as last month with up to 3 $1000 closing certificates again ? Can they still apply that $3000 along with the $1500 incentive you mentioned they had last month ? The TOTAL dealer $$$ available would then be $4500 ... which gets me to the cap cost I'm looking for and gets me to that slightly over $400 a month payment after all my calculations ... I did get them to give me ALMOST the whole $4500 during last month's negotiations, but the money factor and MSRP of the car involved bumped the price too high.
Thanks .. YET again !!!
What in the world do the taxes have to do with the money factor? The money factor is basically the interest rate on the amount you are effectively borrowing from the leasing company. Interest on how much money the leasing company has to put up to purchase the car. At the beginning of the lease you have effectively 'borrowed' the cap cost. At the end of the leae you have effectively borrowed the residual. The interest is equal to the interest rate X 1/2 the sum of these two numbers which is MF X (cap cost + residual).
There's no rocket science here and it doesn't even require a computer to figure this out.
Thanks
Here is the additional information you requested:
MSRP: $46,075
FX35 AWD
I have been quoted the following for a FX35AWD 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.
Once again, thank you for your assistance.
I inquired about the lease numbers on a 2004 Mazda RX-8 6MT with the GT package about a month ago. Unfortunately Mazda didn't publish their numbers in August. Would you happen to have the money factor and residual value now? How badly does the navigation option affect the residual value? We're interested in 36 months and 12k miles per year. Thanks in advance!
Can you please post the money factor and residuals for 2004 Audi A4 1.8T CVT(no Quattro)for Audi Financial Services standard lease program in Texas? Your help is gladly appreciated. Thanks!
Can you please post the money factor and residuals for 2004 Audi A4 1.8T CVT (no Quattro)for Audi Financial Services standard lease program in Texas? This would be for 15,000 miles a year/36 months lease. Your help is gladly appreciated. Thanks!
Since the Suburban lease numbers are nothing to write home about, can you provide me with the numbers for a 15K/36 month lease on a 2003 Ford Expedition (XLT Premium Style 4x4 4.6L) and a
2004 Ford Expedition (XLT 4x4 4.6L with Leather Seats).
Thank you
I got the 4WD EX Auto at just the terms you stated. Add to that a price of just over invoice and no money down and I got a car at a monthly payment I'm more than happy with.
Thanks for your efforts, it certainly makes it easier to be confident in negotiations.
I have been quoted a lease on a 2004 BMW 330Ci.
42 months / 18k/year - lease factor: .0022
residual: 50%
They said the numbers were the same on the sedan.
How does this look? Did they mark this up?
If I get the Perdormance package on the sedan are the residual and lease factor any different?
Thanks Car_man!
1. I understand the lessee is responsible for all maintenance during the lease term. Does this include ALL scheduled maintenance? Mainly I'm asking about oil changes. If you don't do them (and document them) every 3k miles, what happens? And are you required to do all maintenance at a "dealership or authorized center"? Or can Jiffy Lube, etc. handle it?
2. What about doc fees on a lease? You're already paying an acquisition fee. Is it standard practice to pay one or the other, but not both? (I'm sure the dealers will always try for both, but I'm wondering how successful folks are in getting one cut out.)
Thanks!
The $420 per month lease on my '01 Escape is over in April.
I just leased an '04 Jeep GCL for $349 and the Jeep dealer "bought" (discounted the Jeep by) 3 Escape payments.
Over a beer I asked my neighbor if he wanted to take over the Escape to lease end for "around $250 a month" which is what I owe if I really apply the credit the Jeep dealer gave me to the Escape and not just as a discount.
He said "Sure!" - but that's really taking a chunk of money out of my pocket.
Now what do I do?
I don't want to pay my neighbor $170 a month to drive the Escape.
Even though the dealer "bought" 3 months, I still have to pay $420 a month to Wells Fargo for an extra Escape.
Should I look for somebody else to take the lease for the full $420?
Should I tell him we might work something out, but I was way off base with $250?
Thanks for any advice........
Car_man
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I calculated this payment based on nothing down, because it is in your best interest to put as little money down as possible when leasing a vehicle. I say this for two main reasons. The first is that if your vehicle is totaled in an accident or stolen and never recovered during your lease term, your insurance company pays off the bank that you were leasing it through and any down payment that you have made essentially disappears. The second main reason is that down payments on leases do nothing to reduce vehicles' lease-end purchase prices. So if whether you were to put $10,000 down on this vehicle or nothing at all, its lease-end purchase price would be exactly the same.
Car_man
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Since I don't know exactly that Mazda's lease program on this car is like, it is difficult for me to say how the navigation system impacts this car's lease program. Generally speaking though, most vehicles that are equipped with navigation have residual values that are about 2% lower than equivalent non-navigation models.
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thx!
Did you "get the feeling" yet on Toyota's programs yet? Radio says there's Toytoathon 1,000 cash to customers on 4runner. Dealer told me last week $750. Who's on first?
thanks,
metmdx
Tell him $250 was not the correct amount.
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Lease acquisition fees are assessed by the bank that you are leasing your vehicle through and have nothing to do with the dealership that you are getting it from. Doc fees are charged by individual dealerships on all of their deals and will not disappear just because you are leasing. If you are shopping at a dealership that has a high doc fee, just make sure to take this additional profit into account when you make your offer.
Car_man
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Do you know what the money factor and residual would be on a 2004 Jetta GLS with, let's say, a 36 month lease and 12,000 miles per year? I am trying to get a general idea of what those figures might be, as I can't find them anywhere.
Thanks.
Thanks!
ChiGirlinTexas
GO CUBS!
Now, I have to see what I can work out ! And I have to find an insurance company that won't kill me for this car !!!
Thanks a ton, Car_man !
You're the best. Thank you very much for the Suburban and Expedition numbers. Since the lease numbers on those vehicles are not very favorable, can you provide me with the numbers on 2003 and 2004 SR5 Sequoia's with the Preferred Pkg (leather seating) and Dual Zone AC. The lease again would be for 15k/36 months. I'm looking for something at least the size of an Expedition and I think the Sequoia is about the same size. If you can recommend any other SUVs at least the size of a Sequoia and in the same price range, let me know.
Thanks
Do you know what the money factor and residual values would be?
Thanks!
36 months is 57%, and 48 months is 47%. your best value will be at 39.
What is the MF and Residuals for 48 months leases with both 12,000 and 15,000 mi/yr? Also, dealers are telling her that if she takes the Mazda lease rates, none of the cash rebates/incentives can be applied to the deal. Is that true? Thanks.
I've been seeing ads on TV for Toyotathon with cash back, yada, yada, yada.....so have you gotten your hands on the numbers yet?
Here's the skinny:
For the '03 (leftover)4Runner LTD with MSRP of 38,089 and selling price should be approx 33,500. I will do 15K miles a year. What should be the lease payment? What MF does Toyota have now and what incentives in NY metro area? Do you know what the residual % is?
tia,
metmdx
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"1. How do I get out of my lease before the contract has expired?
In some cases, your financial picture might change unexpectedly and suddenly you can't afford those sky-high payments on a BMW 528i. In another common scenario, you lease a fun little Mazda Miata one year, then the next year you and your spouse have a baby. You're desperate to get into a bigger car, but you don't want to take a financial bath. What to do?
According to Shebesta, you still have some options:
Find someone to assume the lease. Call the leasing company and ask if they allow 'assumptions.' Make sure you locate a new lessee who is credit worthy. Expect to pay a fee to do the assumption — about $300. Check to make sure the mileage is appropriate for this point in the lease. And also make sure you provide the car in good condition so the new lessee isn't taking over hidden problems.
Sell the car yourself. Call the bank and ask for the current buyout amount. Once you get that number, look at the Edmunds.com True Market Value® price for a private party. Make sure to adjust the figure for mileage, color, options and region. If the current market value is close to the buyout number, try to sell the car yourself and pay off the bank. Even if you have to take a $1,000 or $2,000 loss, you are better off than continuing the payments or walking away from the car. Remember, in addition to your lease payment, there are insurance payments, too. (Note: Sales tax can cause a problem if you buy the car, then have to resell it immediately. The bank may help you by arranging to transfer the title directly to the new owner. A dealer might also help you arrange this transaction, but they will want reimbursement for their trouble.)
Turn in the keys and walk away from the lease. This isn't a good option. If you give the car back to the lessor, and walk away, it will go on your credit report as a 'repo.'"
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