Lease Questions - Ask Here

knockoff · February 2004

Thanks Car_Man for all your help so far but I think I am getting in deeper and need your advice (and any others also). There is a 2003 Porsche Cayenne S (used) with approx 2600 miles. The financial guy at the dealership gave me the following numbers and .... well I want your opinion. Residual on 2003 is 48% for 15,000 miles/year and 36 months, money factor is .00350. Due at signing is the following: 1st months payment, title & license $185.50, tire something $5.00, document fee $249.00 and acquisition fee of $595.

I said I thought the money factor was high & he said that was what it was for Utah area. What do you think?

jratcliffe · February 2004

That does seem steep as a MF. Leasecompare.com lists a lease for that car, with the same mileage (03 with 2600), no nav, cd changer, or moonroof, as 0.00258

clpurnell · February 2004

looks like you paid twice the going money factor. IFS money factor is around .00168 to .00180. If it's not to late I would scrub that deal.

stockwatch · February 2004

Looks like it is too late. I have been trying to get an explanation from the dealer (Jim Coleman Infiniti) but they will not return my calls since I leased the car on the 31st (I left voicemails on Feb 1, 2, and today). I called Infiniti Customer Service to complain. They said that once you sign the lease agreement that they cannot do anything. They asked why I signed. I said that I signed based on the expectation that I was getting the best deal not only because the dealer business person told me I was getting the best deal possible (I kept on asking her if I was and she assured me that this was the best lease package they could offer) but also because I expected that by participating through the VPP program I could be assured of a "hassle free, no haggling" process. I guess I was wrong. I do feel burned since I feel like the dealer intentionally induced me to sign a bad deal knowing that a better deal was out there. Any other views would be appreciated.

siteexpert · February 2004

I heard that Volvo is offering a $4500 lease incentive on the S60R. Is this correct? Also, can you provide me with the latest residuals and money factors for a 36 month/ 12K mile lease.

Thanks,
Scott

buster6 · February 2004

Hi Car_Man

Could you please provide me with the Feb rates/residuals on the following cars.

15k/36 months

es300
gs300
both with navi in Arizona

Thanks!!

tgp1810 · February 2004

Car_man could you provide me the numbers for a lease on a 04 Saab 9-3 Arc (auto) for 36 months and 15000 miles a year. Thanks.

stockwatch · February 2004

I was able to convince my dealer to stop the paperwork on the lease (I think my complaints of Fraud to Infiniti Corporate helped in this regard). The dealer admitted that they do not offer the Infiniti lease incentives and that they keep the profit between what IFS is charging (4.32%) and what they charge (7.76%). Still very deceptive, particularly given their representation of the rate being the best one out there. I am now going with the purchase option with $5000 down and 2.9% rate over 60 months.

aqbqcq · February 2004

Carman,

I live in NY where Acura no longer does leasing but Lexus does. Any ideas on how to level the playing field when comparing monthly payments? I'm not interested in straight financing, so I guess Acura will offer some sort of balloon payment option. I welcome your thoughts on my issue. Also, can you give me the February leasing/balloon info for each of these @12K miles/year for 36 and 48 months. Thanks for your help.

clpurnell · February 2004

Congrats for getting them to backdown and getting a better deal for yourself. You should be commended for standing up for yourself a lot of people would have took it and not enjoyed the vehicle as much. Have fun in your G.

celkan · February 2004

Hello! I hear that BMW has incentives on leases for the 325i and 330i currently.

Car_man, could you tell me the money factor and residuals for the 325i and 3301 sedans, rear-wheel drive? I'm in San Diego. Are there any differences depending on equipment, e.g. auto vs stick shift, premium package or not?

I have a short commute so I drive under 8K miles per year. Financially, what would the best lease length be? 2 yrs, 3, or 4? Or am I better off buying? Is 10K miles per yr the minimum for a lease?

Thanks for all feedback!

CarMan@Edmunds · February 2004

Hi stockwatch. I would be more than happy to calculate a sample lease payment on this car for you, using Infiniti's base lease program so that you have something to compare your deal to. However, in order for me to do so, I need you to provide me with its full MSRP.

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CarMan@Edmunds · February 2004

Hey knockoff. Has the 2003 Cayenne that you are interested in ever been registered or was it used as a dealer demo? It sounds like it is technically still a new vehicle. If this is the case, the residual value that you were quoted for a 3 year 15,000 miles per Porsche Credit lease is right on the money. However, Porsche Credit's base lease money factor for this term is only .00250. It looks to me as though the dealership that you are working with is marking-up Porsche's base lease money factor to add additional back-end profit to your deal. This is a very common practice amongst Porsche dealers. You should be able to get them to lease you this truck using Porsche's base money factor without too much trouble, given its age. By the way, Porsche's lease money factors do not vary by region. It publishes one national lease program that is good from New York to California.

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CarMan@Edmunds · February 2004

Greetings Scott. You are very well informed. At the end of last month, Volvo introduced what is known as "alternate retailer lease cash" on the '04 S60R. The exact amount of this allowance is indeed $4,500. Consumers may use this money to lease this model through any bank other than Volvo Finance. Late last month, Volvo also enhanced its own lease program on this model. Its new 3 year, 12,000 miles per base lease money factor and residual value for the 2004 S60 R are .00041 and 55%, respectively. Whether it is better to lease this car through Volvo using this lease program or through some other bank using the cash will depend upon what the other bank's lease program is like.

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CarMan@Edmunds · February 2004

Hi buster6. I believe that Lexus' lease program varies slightly by region. I have not seen its exact lease money factors for your area, so I will provide you with the ones that I have seen. Its factors in your area may be .00010 or so higher. According to the latest information that I have seen Lexus Financial Services' 3 year, 15,000 miles per base lease money factor and residual value for the 2004 ES 330 without navigation should be around .00160 and 57%. The numbers for an otherwise identical lease of a 2004 GS 300 without navigation should be around .00155 and 54%.

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CarMan@Edmunds · February 2004

Hi there tgp1810. Here is the informaiton that you are looking for. If you were to lease a 2004 Saab 9-3 Arc through Saab Financial Services for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00151 and 53%, respectively. In addition to this special lease money factor, Saab is providing $2,000 lease cash on this car that may be used to negotiate a more attractive capitalized cost.

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CarMan@Edmunds · February 2004

Great job, stockwatch. I am sorry to hear about your terrible experience, but you did an excellent job getting out of this lousy lease. Dealerships mark up lease money factors all of the time, but this one marked yours up a lot and not only that but they did so to a consumer who was purchasing through the VPP program. That is very poor. I am glad to hear that everything worked out well for you. Way to stick to your guns.

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siteexpert · February 2004

Carman,

Do you know if you can price protect (make a depsoit and order a car for delivery after the expiration) of the lease incentive? I am trying to find this out. My dealer says no that I must take delivery of the car by the end of the month.

The money factor/ residual with the $4500 I was quotes was .00207 and 54% which turns out to be a little better than the volvo subsidized lease numbers ($4500 goes a long way to making up for a high interest rate :-).

Thanks for your help.

knockoff · February 2004

Thanks Car_man. The Cayenne has been registered to someone and was not sold originally by this dealer. Does that make a difference in calculating the lease? how?

glevitt · February 2004

siteexpert - On the 4500, are they taking that off the price of car if you will finance elsewhere or is that cash to you and your cap cost is based on the sticker (or some other negotiated number)?

Thanks.

siteexpert · February 2004

glevitt -

It reduces the cap cost of the car by $4500 (only for a lease - not for financing a purchase).

stockwatch · February 2004

Thanks Car_Man and clpurnell

I agree that it is amazing how poor the dealer treated a VPP customer. Everyone should be wary of Jim Coleman Infiniti in Bethesda, MD.

Thankfully, once I exposed their deception, the process went smoothly.

In about 10 minutes, I was able to change everything over to the 2.9% financing. I didn't really want to tie up $5000 on the car, but I don't feel so bad after having driven the car for a few days since I love it. By the way, for those in the D.C. area, my Tivo program guide tells me that tonight on channel 22 (PBS) they will be roadtesting the G35x.

glevitt · February 2004

Hi Car_Man - Can you tell me what the MF and RV are for the S60R for a 4yr/12k lease under Volvo's new lease program for that vehicle?

Thanks.

rbr · February 2004

Car_man --

Greetings. Looking for the residual value and MF on the above referenced car, which we will be taking delivery of in about two weeks. We are in St. Paul, MN.

We are looking at both a 3 and 4 year lease, assume 15k/year. ALSO, by the way, would you happen to know the Toyota Financial Services financing rate so I could do a lease-buy comparison.

Thanks in advance.

explorerx4 · February 2004

Got a call today from our local saab dealer.
we have 3 payments left on our '01 9-5 se wagon.
he said they have an early lease turn in program, since we have 3 payments left.
in my area there is a program for a linear sportwagon(32875 'list'), 409 a month, zero down, 10k, 48 months. it doesn't mention any aquisition fee.
looks like the residual is 42%, and it allows 10k per year.
do you know what the money factor is? my inexpert opinion is 0 down, zero percent financing, no aquisition fee, list price for the car. i would be looking for more mileage(up to 15k). trying to see if i am a worthy 'grasshopper'. Thanks in advance.

nupeskee · February 2004

CarMan, I know you told me before that there is not lease support for the CTS-V but can you compute a payment for a selling price of 51,125 for 36,39, and 48 months.

stevens10 · February 2004

Hello, car_man. Could you please provide residual, money factor and if possible "good" lease payment for FX35 AWD and GX470 for
36(39)m/12K/$0down.
Thank you in advance.

siteexpert · February 2004

Carman,

I didn't see february updates for the following cars. Can you provide me with the rates residuals for 12K/ 36 month leases on the following?

BMW 330i
BMW 330cic (convertible)
Audi A4 3.0 Quattro
Audi A4 3.0 Quattro Convertible
Infiniti G35x

And to consolidate questions I asked earlier. Does Volvo let you lock either the low lease rate or the 4500 cash for ordered cars (that will arrive after the expiration of the program). Dealer is telling me I have to take delivery by the end of the month for the $4500 incentive.

Thanks in advance.

dal71 · February 2004

Hello,

The XC-90 my fiance ordered a couple of months ago arrived at the dealership today, so now I must work out financing. The dealer is quoting me a 48 month 12k miles/yr lease with

mf = .00212
residual = 47%

He says the residual decreases by 2% if I go up to 15,000 miles.

Does this square with Volvo's current leasing program? Are there any special leasing/financing incentives I should know about?

Finally, even though this is a board on leasing, he is currently quoting me 4.75% if I want to finance for 60 months. Is this Volvo's current rate?

Thanks in advance for your help!

David

carnutt1 · February 2004

What are current money factors on TL's and TSX's for 48 and 60 mo leases? Thanks, looking at leasecompare.com and want to compare with manufacture programs.

ctorrey · February 2004

Car_man -

Once again, another request for info...

I'm considering a new '04 Audi S4 Sedan. I'd like to get residual & MF for several scenarios - all 12k miles/year in the northeast: Terms: 36/39/42/48 month leases.

Thanks again. You have been so helpful with my last 2 leases!

meagvg · February 2004

Hello,
I'm trying without success to locate a blank auto leasing form.

My corporation will lease the car from me, but I need a form to use. I have one from the dealer, but it's got their letterhead, and a big "VOID" across the front.

Any help is greatly appreciated.

MH

ricochet600 · February 2004

Hi Carman,

I'm interested in the 2004 Jeep Grand Cherokee Laredo in the NYC area, and was wondering if you could give me the MF and residual for a 36 month lease, at both 12K and 15K.

Also, a friend of mine told me he saw a commercial for $0 down, $299/36mo 15Kmiles/yr(???) lease. Edmunds.com shows several Cash-to-Cust rebates ($3500/2000/750/750). My understanding is that none of those can be combined with each other.

I tried pluggin in some expired numbers (from one of your posts several months ago) just to get an idea using these numbers:

Grand Cherokee Laredo 4WD (no other options)
MF = 0.00100
residual = 44%
Cap Cost=28,068-3500 = $24,568 (Edmunds TMV)
MSRP = $30,025

I'm getting a PRE-tax monthly payment of $353 (and the residual must have gone down a few points since then). Could you shed some light on what numbers they are basing this deal on?

jumper4 · February 2004

Hello Carman,

Could you post the residual and money factor rates for a BMW 325xi for both a 36 and 48 month lease at 12,000/year. Also, is the $525 bank fee for all BMWs? Thanks for your help.

jumper4 · February 2004

Dear Carman,

In the request in #9297 I am asking for assistance in figuring out the lease for a BMW 325xi Wagon and I live in Maryland. Thank you very much.

rxke · February 2004

Hi Carman

I live in NY and plan on leasing one of the following cars in Feb. I will be leasing for 36 or 39 or 42 months, whatever the mfg is offering with 15,000 miles per year. Could you provide me with the residual and money factors for the following cars. I know that some are offering incentives or deals(BMW, Mercedes, and Volvo).

A4 1.8 quattro sedan
Volve S60 sedan with AWD
G35 sedan with AWD
Mercedes 240 sedan with 4-matic
BMW 325 sedan with AWD

After reading some of the posts about a bad dealer experience with a G35 I am a little concerned. Is this a common occurance with Infinity or does it happen with all dealers?

Also, thank you for providing consumers like myself with a simple way to estimate monthly lease
costs. The formula really works. When I leased a E320 in 2001 I was just $10 off.

Thanks again for all of your help. You are doing a great service.

CarMan@Edmunds · February 2004

Hey siteexpert. Many brands, like BMW, do allow consumers to lock in their current lease programs on ordered vehicles. I am not sure if Volvo allows consumers to do this though. You sure are right about $4,500 lease cash making up for the higher money factor. There is a long time between now and the end of the month. We even get a bonus day this year

. Why don't you want to take delivery of this car in February? Are you interested in a color / option combination that the dealership that you are working with does not have in stock? Have you tried checking the inventory of a couple of other dealers in your area? You may be able to find the model that you are looking for elsewhere.

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CarMan@Edmunds · February 2004

Since this vehicle has already been registered, knockoff, it technically is no longer new and would not be eligible for Porsche Credit's new vehicle money factors and residual values. If you were to lease it, you would have to do so through Porsche's Pre-Owned lease program.

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CarMan@Edmunds · February 2004

Greetings, glevitt. Just in case you haven't noticed some of the recent posts on this car, you should know that Volvo is currently providing $4,500 lease cash on it to consumers who lease one through any bank other than Volvo Finance. This car is usually less expensive to lease using this cash to lower the capitalized cost and leasing it through an outside lending institution. If you opt to lease it through Volvo Finance, its current 4 year, 12,000 miles per base lease money factor and residual value should be .00041 and 46%, respectively, without any lease cash.

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CarMan@Edmunds · February 2004

Hi there rbr. As usual, Toyota is not providing any sort of lease support on the 2004 Sienna right now. That means that if you were to lease one through Toyota Financial Services, you would have to use its standard lease program. There is a good chance that you would be able get a lower lease payment on this van by leasing it through a bank other than TFS. I haven't seen TFS' lease program in a while, but the last time that I did, its base lease money factor and residual value for a 3 year, 15,000 miles per lease of a 2004 Toyota Sienna XLE Limited AWD w/NAV were around .00220 and 55%, respectively. The money factor would be exactly the same for an otherwise identical 4 year lease, but the residual value would fall to around 47%.

Toyota is not providing any sort of finance support on this model right now either, so if you were to finance an '04 Sienna through TFS you would have to use its standard finance rate. I really do not know what that is right now. If you opt to finance your Sienna, I suggest going to a local or an on-line bank and getting pre-approved to finance the model that you want. By going so, you will know exactly what sort of interest rate you will qualify for and you will motivate the dealer that you are purchasing your van from to try to beat this rate.

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CarMan@Edmunds · February 2004

Hello explorerx4. Saab did indeed introduce a new early lease termination program this month. This program allows Saab Financial Services lessees out of their current leases up to three months early at no charge if they purchase or lease a new Saab. SFSC's current 4 year, 10,000 miles per base lease money factor and residual value for the 2004 Saab 9-5 Linear Wagon are .00162 and 42%, just as you had guessed. In addition to this special lease money factor, Saab is providing $2,000 lease cash on this vehicle that may be used to negotiate a lower capitalized cost. If you were to lease this car with 12,000 miles per year, its residual value would fall to 41% and with 15,000 miles per year it would fall to 40%.

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CarMan@Edmunds · February 2004

That is correct, nupeskee. General Motors is not providing any sort of lease support on the 2004 Cadillac CTS-V at this time. You would be much better off leasing this car through any bank other than General Motors Acceptance Corp. GMAC's standard lease rates are absolutely terrible. I could work up a few payments on this car for you using a very high interest rate, like the one that GMAC would provide you with, but that would not be indicative of what you could actually lease this car for if you went through a bank that had a decent program on it.

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CarMan@Edmunds · February 2004

Hello stevens10. Here is the information that you are looking for. If you were to lease a 2004 Infiniti FX35 AWD through Infiniti Financial Services this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00184 and 53%, respectively.

Lexus' lease program usually varies by region. Since I do not know what part of the country you are in, I will provide you with info on this vehicle's most widely available program. In a large portion of the country, Lexus Financial Services' current base lease money factor and residual value on the 2004 GX 470 without night view or the rear entertainment system are .00170 and 52%, respectively.

I would be more than happy to calculate a couple of sample lease payments on these vehicles for you. However, in order for me to do so, I need you to provide me with their full MSRPs and selling prices.

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crashtestdingo · February 2004

Here's a question for all Town Hall members as well as Car_man:

The talk of Volvo's $4500 cash for lessees using a bank other than its captive finance arm has gotten me wondering: Are there any banks, etc. that lease cars in New York state, what with the punitive vicarious liability laws here? I'm asking on behalf of my sister, who lives in NYC and has ordered a BMW 325xi sedan, in case that has any bearing. When she was shopping for this car, leasecompare.com didn't have any leases in New York. Cars Direct did, but I don't know if they were all from BMW dealers. They couldn't match the offer from the dealer through which she ordered the car, anyway.

While I'm at it: Car_man, what are BMW's terms for a 36-month, 10K-miles/year lease on the 325xi in New York this month? Her car is scheduled to arrive by the end of this month.

Thanks in advance.

rbr · February 2004

As always, thanks for your generosity with this information.

nupeskee · February 2004

Thanks car man. Can you give me any leads on banks that would deal with me directly on a lease? I have looked at leasecompare.com but would like some other options also.

glevitt · February 2004

Thanks for information Car_Man.

I have to say, that based on my own calculations, its better (from a payment standpoint) to lease through Volvo than through another lender because the money factor is so low and bank money factors are pretty so-so. Also, under the new program Volvo is propping up the residual values by 2% over ALG which is what most of the banks are using as a guideline.

Am I off base here or missing something on this $4500 incentive?

Thanks again!

CarMan@Edmunds · February 2004

Hey siteexpert. Here is the lease info for the cars that you are considering. The 3 year, 12,000 miles per base lease money factors and residual values for these cars if they were leased through their captive finance companies are as follows: 2004 BMW 330i - .00100 / 60%, 2004 BMW 330cic - .00100 / 60%, 2004 Audi A4 3.0 Quattro - .00090 / 55%, Audi A4 3.0 Quattro Convertible - .00170 / 55%, and 2004 Infiniti G35x - .00180 / 60%.

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CarMan@Edmunds · February 2004

Hi dal71. Volvo is not currently providing any sort of lease support on the 2004 XC90. So if you were to lease one through Volvo Finance this month, you would have to use its standard lease program, which isn't very good. You will probably be better off leasing it through some independent bank. The .00212 lease money factor that you were quoted is much better than Volvo Finance's current standard money factor. Volvo really isn't providing much in the way of incentives on this model right now. The only part of the country that it has a little support on it is on 2WD models in the Southern U.S. Let me know if that is where you live and I will try to find out the details of this support.

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CarMan@Edmunds · February 2004

Hi carnutt1. If you were to lease a 2004 Acura TL through American Honda Finance Corp. this month for 4 years with 15,000 miles per, its base lease money factor and residual value should be .00205 and 50%, respectively. I personally feel as though 5 years is way too long to lease any vehicle. I haven't seen any info on this car's 5 year lease program, so unfortunately I can not help you out there anyhow. Please let me know if you have any other questions.

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