Lease Questions - Ask Here

lewh2 · October 2003

I plan to place an order for a 2004 525i in the next two or three weeks (my 2001 525 lease is over around December 1). Are there advantages/disadvantages in leasing through BMW Financial as compared to other financial companies that will lease the vehicle to me?

tonyscar · October 2003

My lease return on my 2000 Rodeo is scheduled for 10/18/03. The Lease inspector finished his report 1 month ago(as req'd) with a zero fault score and absolutely no problems found. Well..as is always the case and just my luck my wife went to drive it later that evening and brought it right back home due to the truck bucking and popping. Well I discovered the same after driving it and realized something was really wrong with this truck. I must be honest and say that I have not put an extra dime into this truck out of the ordinary scheduled maintenace and tune-ups. Not a penny..I thought I really lucked out with a decent truck and a pretty good first lease experience. Well the long and short of it is that while the truck was on the flatbed in my driveway, my wife and I were on the phone with every Isuzu Dealer within my area of NJ. Every dealer had an excuse as to why they couldn't take the truck in for repair. My wife and I then starting contacting everyone and their sister at Isuzu that was supposed to give us authorization to take the truck to a mechanic of my choice since Isuzu was being very un-helpful(I remind you my truck is still at my house on the flatbed). So with all the messages we left, we got no calls returned so I had the truck towed to my mechanic who was within the towing range. Now the problem. the computer readings stated the IOS(?) modulator was bad on the top of the block. $194 part and it was replaced. Daignostics also showed the truck firing on only 3 cylinders thats why it had no power and would not go over 2500 rpm's and was still popping and clanking. This led us now to the EGR(exhaust gas re-circulater valve). Well from experience I tell you that no junk yard will have this part and very few dealers did as well. But I happened to drive and get one at an import auto mall about 45 mins away. Well that $175 part was installed with a new gasket and still the same problem. Now 1 month later my truck is still at the mechanic's shop and he has done all he knows and also replaced new platinum plugs at $13 a piece. He says he is stumped and I will have to now tow it to a dealer. So my problem remains..Do I take it in to repair it on my own?..Do I chug it into the dealer where it needs to be dropped off upon lease end and let them hit me with a hefty bill? Should I try to nickel and dime it to have it drivable to the dealer and leave it? oh..I also upon purchase of the lease I also opted for the extended wear and tear package that cost $15 more on to my monthly payments which is supposed to protect me from things considered out of the normal wear and tear. Needless to say the Mazda/Isuzu dealer I purchased the vehicle from folded and are out of business. Was this extra wear and tear package through the dealer or Isuzu? Not sure if any of this is covered under warranty. That's why we tried endlessly to get authorization before sending the truck anywhere for repair. Any suggestions at all would be greatly appreciated!

Thanks in advance,
Tony

gperr · October 2003

Car_man,

Can you please provide the October AHFC residual and MF for a 2004 Honda Pilot EX-L (non-nav non-dvd)

36 & 48 Months, 12k.

Also what is the current AHFC Bank/Aquisition Fee

Thanks

Gregg

ahdanna · October 2003

Hi Car_man,

I just priced a 2004 BMW 330C for a 42 month, 12K/yr lease MF=.0220, Residual=.54 . Does that sound right to you?

Thanks!

wesam · October 2003

Car_Man,

Do you know the money factor on the 04' 5-series yet? Im in Milwaukee, WI, and to my understand rates might differ from state to state. Is there any truth to this?

tguerino · October 2003

Looking for money factor and residual on 2004 745i with sports package and 12k miles per year. Thanks for your help!

TG

wesam · October 2003

The buy rate would be .00220. You didn't state how long you wanted the lease, but the residuals for 12k a year are as follows:

24 = 67%

30 = 63%

36 = 61%

CarMan@Edmunds · October 2003

Hey trhee. I have had an opportunity to take a look at VW's new October lease program. If you fill me in again on the details of your lease, the length, mileage, etc..., I will be more than happy to give you an idea of what the program should be like this month.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Hi again colslick. Good call on the 39 month lease. I probably would have done the same thing if I was in your situation. Why not lease for three more months if you can lower your payment and still be covered under the original bumper-to-bumper warranty. Thanks for taking the time to come back and let us know how everything turned out. Enjoy your new car!

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Hello jjnez. BMW is not providing much in the way of lease support on the 2004 3-Series right now. I would be more than happy to calculate a sample lease payment on one for you. However I need some additional information from you first, including how long you want to lease for, how many miles per year you need to be able to drive it, and the full MSRP and selling price of the model that you are interested in. You can look up this car's full MSRP right here at Edmunds.com by clicking on the "New Cars" link that appears at the top of this page. Once I have this additional informaiton I should be able to help you out.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Hi knockoff. I have seen the lease numbers for the vehicle that you are interested in. Volkswagen is actually providing a little lease support on this model. If you were to lease a 2004 VW Touareg V8 (not the x model) through Volkswagen Credit this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00160 and 54%, respectively. In fact, VW is actually also providing $500 lease cash on the V6 version of this model that may be used to reduce its capitalized cost.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Hey woodranch1. Thanks for providing us with an update. I'm not surprised that your lease was run through a bank other than BMW FS, given BMW's lack of lease support on the '04 5-Series at this time. Enjoy your new ride

.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Hello lewh2. The main advantage of leasing through a captive finance company, like BMW Financial Services, is that manufacturers often provide special reduced lease money factors (interest rates) and or artificially inflated residual values on leases of their products through these banks in order to help sell their product. BMW is providing at least a little lease support on most of its 2004 models right now. Unfortunately, since it is such a new model, BMW has not felt the need to provide any sort of lease support on the 2004 5-Series yet. As a result, there is not really any incentive to lease a new 5-Series through BMW FS. If you are able to get the lowest lease payment by using them, great, but if you are able to get a lower payment by leasing through another bank, like Chase, then that is the way to go right now.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Hi Tony. I am sorry to hear about all of the problems that you have been experiencing with your leased Rodeo. On the bright side, at least you get to turn this car in and walk away from it soon. Imagine how annoying this would be if you actually owned it. I don't remember what the warranty for this truck was like back in the 2000 model year, but all Isuzus now come standard with a 7 yr. / 75,000 mi. Drivetrain warranty. So the problems that you are experiencing are probably covered. I wouldn't continue to mess around with independent mechanics if I was in your situation, but rather have the truck towed to the nearest Isuzu dealer and let them fix the problem. If you fear that you will be without the truck for a significant period of time and need it to drive to work, you can always replace it with your next car or truck now since there is only a month left on your lease anyways.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Hey Gregg. I have not had an opportunity to take a look at Honda's October lease program yet. I suspect that I will get a chance to within the next couple of days. Please feel free to check back with me mid-week and I will fill you in on what I have been able to find out. Talk to you soon.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Greetings ahdanna. The numbers that you were quoted are right on the money.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Yes I have had an opportunity to take a look at BMW's new lease program, wesam. As I had suspected, BMW is not providing any sort of lease support on the 2004 5-Series in October. So if you were to lease one through BMW Financial Services, you would have to use its base standard lease money factor, which is .00225 for leases of up to 36 months in length. While some banks' lease programs vary depending upon the state one is in, BMW FS publishes one national lease program that does not vary regionally.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Good morning, tguerino. I would be more than happy to give you an idea of what BMW's current lease program is like on this car. However, I first need you to tell me how long you plan on leasing it for. Once I have this additional informaiton I should be able to help you out.

Car_man
Host
Smart Shoppers / FWI Message Boards

tguerino · October 2003

Sorry I forgot to give you the length of the lease carman. I am interested in the money factor and residual for 36 month lease with 12k miles per year. Also considering purchasing instead of leasing and was wondering if there is any cash rebates available for leasing or purchasing.

Thanks for the info.

TG

rwright · October 2003

Hey Car_man!

I hope you're doing well. I'm hoping I will take delivery of my 2004 325CI this week. Given that we haven't yet signed the final deal, I wanted to see if you have BMW FS' October lease numbers for a 36 month, 10K and 12K per year lease of a 2004 325CI. I want to ensure the numbers haven't gotten better, since September, before I go into the dealer. Thanks!

jim52 · October 2003

I know this is not a lease question but you have been very helpful the last two times I leased a car and I can't find a better place to post this question. How reliable is the info posted her on Edmunds. It says that there is zero % financing for 72 months on the 2003 Lincoln Navigator and that there is 2,000 customer cash that can be combined with this. I just had a dealer tell me that neither was true (i.e. no customer cash with special financing and that zero % was only up to 60 months). In my past experiences with Edmunds, I have always found their info to be correct which leads me to believe that the deal is lying. Can you help?

trhee · October 2003

Car_man,

I'm going to pick up my car between 3:00 and 4:00 this afternoon, but I haven't signed any papers. The Passat I'm getting is a 2003 Passat 1.8T (auto) without the ESP, but fully-loaded otherwise. I'm getting 12k miles and it's going to be a 36 month lease. Any quick info. on the October numbers would be greatly appreciated. Thanks a bunch!!!

trhee

ngkiyan · October 2003

Hi Carman,
Just want to know if you have the lease numbers for a 2004 Honda Ex-v6 Accord coupe. Looking to lease either 36 or 48 months. Yearly mileage of 15000 or 18000. Thanks

ahdanna · October 2003

Hi car_man,

Thanks for the info on the 330. I'm also shopping for an Infiniti FX35, but the dealer just called and offered me a leftover 2003 FX-45. Do you know what the incentives are for the leftover 2003's (35 and 45) for leasing? And is it better to wait and get the 2004 FX-35 which should be out any time now?

Thanks again,
ahdanna

liannell · October 2003

Hi Car_man, now that the October programs are out, can you post the updated info for the following 2004 models (all at 36 months and 15k miles/yr):
BMW 325i Sedan
Audi A4 3.0L (NOT quattro)
Infiniti G35 Sedan

Many thanks!

liannell · October 2003

How do you find a non-captive finance source for a lease? I know about a couple websites that give you lease prices, but what about the big companies like Chase and Bank One? I see posts referencing these companies all the time, but their websites don't list any info for consumer auto leases. How do you know what non-captive leasing companies do business in your state?

Thanks!

hooops · October 2003

Hi Car_man,

I live in the NY metropolitan area. I'm looking to lease a large SUV for 36 months with 15k miles per year. Can you please provide the October money factor and residual as well as any lease support for the following 2004s:
- Armada SE and LE with 4WD
- Suburban LT 1500 with 4WD
- Expedition Limited with 4WD
- Sequoia SR5 with 4WD

Can you also let me know the #'s (mf, resid, support) for 2003 Suburban, Expedition and Sequoia.

Thank you

smason1978 · October 2003

But you can no longer lease cars in NY...

CarMan@Edmunds · October 2003

No biggie, tguerino. Here is the information that you are looking for. If you were to lease a 2004 BMW 745i 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 61%, respectively. BMW is not providing any cash incentives on the 2004 7-Series, but if you do decide to purchase rather than lease you may want to consider looking for a leftover 2003 7-Series. BMW is providing $5,000 dealer cash on its remaining '03 7-Series models.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Everything is going very well, thanks for asking rwright. Here is the latest information on the car that you are getting. If you were to lease a 2004 325Ci this month through BMW FS for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00220 and 59%, respectively. The 3 year 10,000 miles per factor for this car would be exactly the same, but its residual value would increase to 60%.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Hi again, jim52. I would say that the incentives information that is available here at Edmunds.com is generally speaking fairly reliable. Occasionally there are some holes or errors, but overall the incentives data is pretty good. If this site does indeed state that Ford is providing 0.0% special financing for up to 72 months and $2,000 on the 2003 Lincoln Navigator then it is incorrect. This month there is 0.0% special financing for up to 60 months and 1.9% special financing for 72 months or $4,000 customer cash on this model. There is also $2,000 customer cash that may be combined with special financing rates, but the rates that it is compatible with are a little higher, specifically 0.9% for up to 36 months, 1.9% for 48 months, and 2.9% for 60 months. I hope that this information helps you out and please let me know if you have any other questions. There may be some regional variation in this program though.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Hi trhee. I hope that I am not too late to help you out. Just in case you are still interested, here is the information that you are looking for. Volkswagen is no longer providing lease support on 2003 models. So, if you were to lease a 2003 VW Passat 1.8T Sedan through VW Credit this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00200 and 49%, respectively. In your negotiations, don't forget that VW is currently providing $1,500 dealer cash on 2003 Passat Sedan models. This will definitely help you negotiate an attractive price.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Hey ngkiyan. I haven't seen Honda's exact lease program for this car yet, but I suspect that its current base lease money factor for the 2004 Accord is currently something like .00210. I'll keep digging for the residual values. Please feel free to check back with me in a few days. Thanks.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Hello ahdanna. You should be able to get a pretty good deal on a leftover 2003 Infiniti FX 35 right now. If you are set on getting this vehicle, I definitely would go with the '03 model if I was in your situation. Not only will you be able to negotiate a more attractive price on an '03 FX 35, but the lease program is better on it as well. Let me know if you need any specific information on this model's current program.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Greetings liannell. Here is the info that you are looking for. First, if you were to lease a 2004 BMW 325i through BMW Financial Services this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00220 and 61%, respectively. Next we have the 2004 Audi A4 3.0L Sedan without quattro. If you were to lease this car through Audi Financial Services this month for 3 years with 15,000 miles per, its base factor and residual should be .00145 and 60%. Lastly, if you were to lease a 2004 Infiniti G35 Sedan through Infiniti Financial Services this month for 3 years with 15,000 miles per, its base factor and resid should be .00200 and 56%.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Hi again liannell. Unfortunately, it is difficult for consumers to find out what the lease programs for non-captive finance companies are like. Dealerships usually have computer systems that allow them to search the country to see which independent banks are providing the most attractive lease programs on a particular vehicle at any given time, but I am not aware of any resource like this that it available to consumers. Since dealers know if one can get a better deal leasing through an independent lending institution, one can usually find out the best lease program on a given vehicle by shopping around with a few different dealers and comparing the lease programs that they quote.

Car_man
Host
Smart Shoppers / FWI Message Boards

jjnez · October 2003

Hi Car_Man,

I am interested in leasing a 2004 BMW 330. I am not sure if I want the Coupe or the Sedan but I am leaning towards the Coupe. I am interested in a 3-year lease w/12,000 miles per year. The MSRP for the Coupe with the optional equipment(Premium,Cold weather,Sport packages w/18inch double spoke wheels)is 43,120 and the invoice price is 39,465.

The MSRP for the Sedan with the same optional equipment minus the 18-inch wheels is 42,920 and the invoice price is 39,280. What would you suggest to be a good monthly payment i.e. capitalized cost reduction amount for the Coupe and the Sedan as well as their respective money factors and residual values?

buster6 · October 2003

Hi Carman, I hope all is going well for you. I am hoping you can help me out, I am looking at the following cars on a 2 year 25k per year (50k total) lease:
1 2003 or 2004 Lexus gs with nav. (lexus website shows that there may be support on this model)
2 2003 or 2004 MB E320/E500 with nav.
3 2004 BMW 530--no nav available

I have been told in the past that cars equipped with navigation have a lower overall residual, is this still the case?

Thank you for all of your advice, I read this board all of the time.

ahdanna · October 2003

Thanks again Car_man,

Yes please send over any specifics you have on 36/39 month leases for both the FX35 & 45. I test drove an 03 45 last night and it sounds like they're running some good programs, but I want to make sure that I don't miss anything. The dealer said that they received "coupons" over the weekend that apply only to the 45's.

Thanks again,
ahdanna

jim52 · October 2003

It looks like the Edmunds numbers are in fact wrong. What do you show for incentives on the 04 Navigator - I'm now not sure if they are correct either.

eggend · October 2003

Car_man... I am curious to know the money factors and residuals for two vehicle models, both 36-month and 48-month options at 12k per year with zero down. They are:

2004 Audi Allroad 2.7T
2004 BMW X5 3.0i

I would have included the Volvo XC90 as well, but I assume that Volvo Finance rates are still dismal and that third-party lenders are the way to go with that model.

Thanks!

theworm · October 2003

Hi, Car_man! I guess I'll be the first coupe'o'the'month for this go-round:

04 G35 coupe leather, premium package, aero, perf tire/wheel, splashguards, bodyside moldings.

MSRP = 36135

How 'bout resids and base rates for 36 and 48 month leases through IFS? 12k/yr.

* btw, you wouldn't happen to have IFS' base Tier 1 PURCHASE finance rates for the same terms, would you?

Thanks!

automophile · October 2003

I will be leasing a new '04 Acura TL in December. I really despise the extra charges dealers try to tack on, such as acquisition and disposition fees. I have never paid the dispo fee, but the dealers balk at the other.

What is it for? Isn't the profit on the car and the interest supposed to cover their costs?

Is the acquisition fee mandatory, or can it be dropped if you push hard enough?

Thanks!

theworm · October 2003

Whoops, that G35c is an auto tranny (5AT) in my previous post.

barbarossa2 · October 2003

Car_man,
I am considering leasing a 2004 Chrysler Crossfire for 36 or 48 months, 12,000 miles/year. I was quoted 60 and 54% residuals, respectively, and a 0.00235 money factor for these leases, through Chrysler Financial.
Does that sound right?
I was also quoted a 52% residual and 0.00375 money factor for a 2004 Mercedes-Benz SLK320 lease of 48 months, 12,000 miles/year, through MB Credit. (That can't be right... the money factor is too high and my current 48-month SLK lease from early 2000 has a 61% residual.)
What do you think?

deejay16 · October 2003

Hello again Car man, I hope all is well with you. Was hoping you wouldn't mind helping me out with some info again. Got a call from the Honda dealer we leased my wife's Accord from back in Jan. 2001. Lease is coming due in April 2004 and they want to buy the car from me and lease me a new Accord. It sounds like a good deal to me as long as the numbers look good, so was hoping you could provide me info on both the 2003 & 2004 Accord EX sedan and LX sedan (with and without side airbags). Will be getting an automatic without leather for 12K miles/year either 36 or 39 months. Over the phone the sales manager assured me they could work a deal for no money down less than $280/month. In addition to the numbers I would be greatly appreciative of any advise you could lend on my situation.
Thank you very much.

CarMan@Edmunds · October 2003

Hi again hooops. Here are the base lease money factors / rates and residual values for 3 year, 15,000 miles per leases of the models that you are interested in through their captive finance companies: 2004 Nissan Pathfinder Armada SE 4WD - .00200 / 55%; 2004 Nissan Pathfinder Armada LE 4WD - .00200 / 52%; 2004 Chevrolet Suburban LT 1500 4WD - 6.5% / 54%; 2004 Ford Expedition XLT 4WD - 7.75% / 50%. I have not seen Toyota Financial Services Base lease money factor for the 2004 Sequoia SR5 4WD yet but its residual value should be 59%. As far as lease cash goes, Nissan is not providing any on the Pathfinder Armada, GM has $500 bonus cash available on the 2004 Suburban that may be used in conjunction with its lease program, Ford has $2,500 total lease cash on the '04 Expedition, and I do not believe that Toyota is providing any sort of lease cash on the Sequoia.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

You are actually right, smason1978, at least partially. Many banks have stopped leasing vehicles to consumer who live in New York. Others still lease vehicles there, but have increased their lease acquisition fees by several hundred dollars.

Car_man
Host
Smart Shoppers / FWI Message Boards

CarMan@Edmunds · October 2003

Hello jjnez. If you were to lease a 2004 BMW 330i 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 59%, respectively. Interestingly enough, the 2004 BMW 330Ci has the exact same lease program. As far as the selling prices of these cars go, I am not personally all that familiar with the market for them at this time. You may want to look up their Edmunds.com True Market Values by visiting the New Car Prices, Reviews & Info section of this site. You can also get a good idea about what these cars are selling for right now by visiting the BMW 3-Series: Prices Paid & Buying Experience discussion that appears on the What Did You Pay section of the Smart Shoppers Message Board. Once you have gotten a good idea of the exact selling price of the model that you are interested in, let me know and I would be more than happy to calculate a sample lease payment on it for you. Talk to you soon.

Car_man
Host
Smart Shoppers / FWI Message Boards

mmm17 · October 2003

Car Man:

Can you please provide the leasing specs for a 2004 Acura TL with navigation. I have been to 2 dealers and each gave me 2 sepertae payments for a 42 month lease at 12,000 per year with no money down. The amounts were $525 per month and $508.85 (these include MA 5% sales tax). I am curious becaus e both dealers are going thru American Honda Finance and both are selling the cars at MSRP. ($34,550). Also, can you please provide the formula I would use to calculate the lease payments. Thank you.

Lease Questions - Ask Here

Comments

Helpful Tools

Most popular vehicles