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Car_man
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thanks carman.
I have been sifting through this post for the past few weeks and have found it very useful. I am currently looking to lease one of three cars:
2004 Acura TL (with and without Navi)
2004 Acura TSX (with Navi)
2004 Infiniti G35x
and was wondering if you have seen what the March lease terms would be, considering a 36 month lease with 15,000 miles per year. I'm trying to decide on which car (and no, price isn't the only factor, but it is one of them
Thanks in advance.
Second, I would like to share my recent lease experience for a Volvo S60R. As many of you know Volvo is offering a $4500 dealer incentive if you lease this car through a bank other than Volvo's captive financing company. In addition, there may be other dealer cash available as Volvo is trying to move this car.
As for me, I leased a loaded S60R for 39 months, 10,000 miles per year with $1,555 cash due at signing for $397.97 per month (including tax)!! It truly was a deal I couldn't refuse. (And for those interested, I LOVE THIS DAMN CAR.) I got to this deal through Eddie at Regency Leasing in Brooklyn (and picked up the car from Volvo of Edison in New Jersey). BTW, I only need 10,000 miles a year for those thinking I'll get killed on the overage.
As for specifics, I know the MSRP was $41,820 and the residual was 58%. I'll check my papers to post other relevant numbers.
Good luck to you all.
I am looking for any advice on what would be best to do either now or at lease end. I called the bank and I can buy the vehicle now for $19700(not including tax and misc). I was thinking that since I have to pay the remaining 14 payments in any case...that this wouldn't be too bad of a deal. Or is it? Should I look to try and trade it in? Or just suck it up and eat whatever penalties I have at lease end?
Any advice would be appreciated.
-Jason
MSRP: $37934
RV: $21,243 (56%)
Monthly Depreciation: $368 -- $34,500 (Negotiated Cap Cost, including Acq Fee) less $21,243 RV, divided by 36 months
MF Component: $89.19 -- $34,500 plus $21,243 X .00160
Total Lease Payment without tax = $457
Taxes: $22.85 -- $457 X .05
Total Bottom Line Lease Payment: $479.85 ($457 plus $22.85)
On a separate question, do you have any sense of how flexible dealers are to assume/payoff a few months remaining on an existing lease? What is the best way to approach this issue when negotiating the lease?
Thanks!
Option 1:
'04 AWD Chrylser Pacifica
Sticker = $37,010
Selling price = $34,452 (at invoice)
Rebate = $3,000
Cap Cost = $31,452
Term = 39 months
Miles = 15k/year
Option 2:
'04 FWD Chrylser Pacifica
Sticker = $33,825
Selling price = $31,600 (at invoice)
Rebate = $3,000
Cap Cost = $28,600
Term = 39 months
Miles = 15k/year
Let's assume I have excellent credit, so give me the best money factor.
Thanks!
Car_man
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Looking at your deal, I have to say that I personally feel as though you should be able to negotiate a lower selling price for this car. Your deal only includes a $650 discount off of this car's full MSRP. In most areas there is an ample supply of Acura TLs out there. By shopping around a little bit, I have a feeling that you should be able to get at least $2,000 off of MSRP, unless you are in an area where there is not a lot of competition for your business.
Car_man
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-Jason
This is going to be a pretty high-mile car by the end of this lease.. If you have the wherewithal to make the payments, then pay the charges at the end of the lease, I would go that route. Then you can start over with another car, and no debt to roll into your next car payment.
regards,
kyfdx
Also..take TMV value with a grain of salt. They generally don't penalize for mileage the way the real world does. Your car may already be worth significantly less than the TMV value.
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You requested that I post a reminder to you (see below) to see if you found anything about the enhanced lease program for the BMW X-3 as I was having a hard time getting the facts!
Thanks so much, AshleyAndersin
"I have not seen this new, enhanced lease program yet. I will take a look around and see if I can find anything out for you. Please post a quick reminder for me in this discussion in a few days and I will be more than happy to fill you in on what I have been able to find out. Talk to you soon.
Car_man"
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My thoughts, if you don't want them to run a credit check just to get a quote (and you don't) ask them for their best money factor rate assuming you have excellent credit (if you don't have excellent credit, don't say this)
I'm interested in leasing a 2004 BMW 325ci (prem pkg, spt pkg, leather, auto). Got a couple questions and hope you can help me out. Note that I'm very new at this (reading up though) so apologies if I'm asking silly questions.
1) From the posts, I understand there's a special leasing offer on the 325ci's w/ the money factor at 0.00125. Do you know when the offer ends? Also, how does one find out about these specials? (maybe I missed it but didn't see it under the rebates/incentives section of edmunds)
2) Timing - Is it better to lease towards the end of the model year (Jul/Aug) when they try to get rid of all their inventory? Perhaps better selling price?
3) Auto Broker - I am thinking of getting the lease through an autobroker. Any watchouts or comments on that?
4) Selling Price - what's the fair selling price for this model? how much above or below invoice.
Thanks for your help.
1) This is the only place on Edmunds you can find out about the money factors.
2) In my experience, good lease deals seem to peak about March. While later in the year seems to be a good time to buy, the residuals seem to really start falling off quickly in the summer, and the lease incentives don't seem to keep up. Of course, there are always exceptions.
3) I think if you arm yourself with enough data, you can negotiate the same price an autobroker can. If your local dealer won't deal with you, and you have few alternatives, then a broker may be able to get you a better deal, but it will likely be with an out-of-town dealer. Then you will probably be taking your car back to your local dealer for service. Depending on the dealer, you may get second choice on service appointments, no loaner cars, etc. I would at least try to negotiate on my own, before turning to a broker.
4) Most of the deals I see on new '04 3-series seem to be about halfway between invoice and MSRP. For most cars that is about $1500-1700 over invoice and $1500-1700 under MSRP. Is that fair? Who knows?
My opinion is you can always make a better deal on a car that is on the lot, than a dealer trade or an order. A solid offer for $1000 over invoice might do it, but may not. The lease deals look awfully good right now, with .00125 and 61% residual on 3yr/36K.
If you are negotiating, keep in mind that most BMW dealers mark up their MFs, and sometimes add up to $200 to the $525 acquisition fee. You might want to let them know up front that you expect the base MF and acquisition fee(known as the buy rate by BMW dealers).
Hope this helps and I'm sure Car_man will have plenty to add.
kyfdx
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My first question is, Is this enough time? I guess if all she needs to do is get insurance (she currently doesn't have a car, so she doesn't have an auto insurance policy now) and get to the dealership long enough before closing time in order to take care of the paperwork, it is, but I'm wondering if there's something I'm leaving out. Also, I remember reading that a buyer / lessee should test drive the car prior to taking delivery of it to make sure everything's O.K. with it. (I guess she should also make sure it's not missing anything – recall that other poster whose new 3-series didn't have BMW Assist like it was supposed to.)
My second question is, Do you have any inkling if BMW FSNA will continue to offer the dynamite lease terms it's offering now? Have you heard anything about how the 325xi has been selling this month? I ask because I'm wondering what my sister will face on Tuesday if she doesn't close the deal before then.
My third question follows from the second. How soon do you think you'll know what BMW FSNA's lease terms will be for March?
My fourth question is one I think you answered before. Is the dealership obligated to offer her the lease terms being offered by BMW FSNA at the time she closes the deal on the car instead of the ones that were being offered and that the salesman put in writing at the time she ordered the car?
Thanks in advance for your help!
I pulled the trigger on the credit union deal. Yes, the payments were a little higher than others have been quoted, but the value of the car won't be overinflated at the end of the lease. I might even be tempted to buy it if at the end if I don;t have any issues during the lease. A credit union representative is actually dropping off my Nighthawk Black Pearl/Quartz non-Nav TL at my house after work tomorrow. Thanks again!!
Could you please post the rates for the Audi A4 1.8 and 3.0 sedan for a 36 month/10,000 mile lease and do you know how long these rates will be in effect? Thank you very much for all your help.
ipoddin Feb 25, 2004 1:30am
Would also like to know what the difference would be for 12k miles/per year as well.
The dealership that you are working with may indeed be more than willing to pay off your current vehicle's last couple of lease payments. Keep in mind though that the money that they use to do so has to come from somewhere. If you have them help you pay off your current lease, it will cut into their profit on your deal and definitely have a negative impact on your ability to negotiate an attractive selling price.
Car_man
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Also, the rates that I provide consumers with are indeed for consumers who qualify for banks' top credit tiers. If your credit is not perfect you may end up having to pay a higher money factor.
Car_man
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Thanks.
Suzanne
While one certainly can often negotiate a very attractive selling price for the vehicle that they are interested in when dealers are making an effort to unload all of their leftover vehicles at the end of the model year, that usually is not the best time to lease vehicles. This is because vehicles' residual values gradually fall as the model year progresses. These residual values are used to calculate the depreciation portion of lease payments. As they drop, your lease payment will increase. In fact, late in the model year vehicles' residual values have dropped so much that many manufacturers actually stop providing any sort of lease support on them and just use dealer cash to help their dealers sell them. I would say that right the he middle of the model year is usually a pretty good time to lease. In the beginning many automakers do not provide much in the way of lease support and at the end the residual values are too low. In the middle of the model year, many vehicles have a reasonable level of lease support, dealers are somewhat willing to negotiate on them, and their residual values have not fallen too low yet.
Manufacturers' captive finance companies usually are able to provide the most attractive lease payments on vehicles that have lease support available on them. I personally would be very surprised if you were able to lease a 2004 BMW 325Ci through a broker for less per month than you would have to pay if you had negotiated a solid deal with a BMW dealer on your own. In most cases, brokers only add another person who needs to make money off of your deal.
As far as this car's selling price goes, you should look up its Edmunds.com True Market Value by visiting the Edmunds.com New Vehicle Price Guide. You also should pay a visit to the "BMW 3-Series: Prices Paid & Buying Experience" discussion that appears in the "What Did You Pay" section of the Smart Shoppers Message Board. There you will be able to interact with other community members who have either just bought or who are in the market for this car. They should be able to give you a good idea of what you will have to pay for one at this time.
Car_man
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As I mentioned in an earlier post, it is difficult to predict what a manufacturer will do with its future lease program with any degree of certainty. BMW dealers probably don't even know exactly what their March lease program will be like at this point. I suspect that its March program will be similar to the one that it is running right now, but there is no guarantee that it will be. A lot of what BMW does with its March program will depend upon what its February sales results look like.
Your sister will be eligible for whatever lease program is running when she physically takes delivery of here car and will not be forced to use the program that BMW was running when she ordered it a few months ago.
Car_man
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X3 3.0, MF .00225, Conveyance Fee of 299, Dealer Acquisition Fee of 625, Sales Price of 41,545 (1800 off of MSRP), Res Value 53%, 42 months, 15K miles. PMT = $639.95 incl 6% CT State Sales tax.
My question:
Conveyance Fee: 299 --- is this legit?
Deal Acq Fee: 625 --- another post indicates that the "real" dealer acq fee is 525, so it looks like my dealer is adding on?
Are these fees negotiable? My dealer said both go to the bank (which is BMW finance.)
Do you think that BMW will lower the MF on the X3 3.0 as it appears that sales are slower than the 2.5? In the past, has BMW ever offered better MF on the 330 sedan vs. the 325 sedan?
Thanks for your feedback car_man and same to you kidfx, keep the hints coming!
As an option, they will give us $4500 cash back if we go to private leasing, but they claim that they are including personal property tax on the payment, vs me having to pay the personal property tax annually on the car in addition to a 3rd party lease.
Thank you both for your helpful responses on my questions re: 2004 BMW 325ci.
You can apply for BMW credit on-line and lock up a rate for 45 days. At contract signing, you pick the lowest rate.
Example: Apply today, close deal on April 3rd. You pick the best rate from February, March and April.
I wanted to say thank you for your help. I was able to get a 2004 silver Acura TL auto with Navi for a much better deal with another dealer for $490 36months 15k/yr--and a drive-away price of $2200, $843 of that was the capitalized cost reduction rest with 1st months payment and other misc expenses. The money factor was .00225 since the bank security deposit was waived The dealer said I was making out with a steal, though I am not sure about, but finding a TL’s with Navi is hard in NJ. Once again thanks for your help.