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Smart Shopper Smart Shopper-Archives Lease Questions - Ask Here 
23872 messages, Last post on Sep 20, 2005 at 8:08 AM
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hey car man, When you look up the rates for zscott can you please address my situation, as well. I have read that certain fees (acquisition, disposition and bank)can sometimes be eliminated from leases. I am interested in leasing an Audi 2.7t for 39 months w/12k per year and I am trying to determine my leasing options. The total list on the car is $45.7k and I am getting the car for $1200 over invoice($42K). Destination of $550 is not included in the above. I have perfect credit. Thanks vkj |
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Zscott1, you are correct that a bank's lease money factors normally will be fairly stable on a short term basis. Audi Financial Services' lease program typically runs for about 30 days or so before it is revised. The current program is good from November 1st through December 5th. Right now, the lease money factor for a 2001 Audi A4 1.8t quattro is .00280 for up to 39 month terms. Furthermore, the 15,000 mi/yr residual values for this car are 62% for 30 months, 58% for 36 months, and 57% for 39 months. If you would like the residual values for any other term or mileage allowance, please let me know. Car_Man Smart Shoppers / FWI Co-Host |
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Vkj, individual dealerships really have no authority to waive a bank's security deposit, acquisition fee, or disposition fee on their own. What they can do is lower the price of the vehicle that you are interested by the amount of the acquisition fee to make it look as though there isn't one, or roll it into the vehicle's capitalized cost. Either way, it still exists. From time to time, lending institutions (usually only manufacturers' captive finance companies) will run leases without any money due at lease signing. These "sign and drive" leases will have waived acquisition fees and security deposits, and sometimes will also have waived first month's payments. Saturn is running such a program on certain cars right now. Still, these programs are the exception rather than the rule. It really wasn't clear in your post what other questions you would like me to answer. If you think of any, please feel free to ask. Thanks. Car_Man Smart Shoppers / FWI Co-Host |
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| Car_Man, do you have any thoughts on the pros/cons of leasing a used vehicle (1 to 3 years old). I am considering a new 2000.5 Passat (when it comes out) vs a used Audi A4 1.8 or possibly a used BMW 323i. How much difference would the money factors be for new vs used vehicles and does the slower depreciation of a couple year old car affect the payments that much? I am thinking of a 36 month lease. Thanks for your input! | |
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Hi Carsavvy. Leasing new vehicles can be a very good deal because many manufacturers provide lease support, usually either in the form of lease cash or supported lease money factors, that allows consumers to lease the vehicle at a very attractive monthly payment. In most instances, manufacturers are not currently providing any support on used vehicle leases. As a result, it often turns out that used vehicles aren't much less expensive to lease or than an equivalent brand new model. There are exceptions to this of course. BMW frequently provides lease support on its Certified Pre-Owned vehicles that make leases on them very attractive. Unfortunately, I personally do not follow manufacturers' used vehicle leasing programs all that closely and would not be able to tell you which vehicles currently have the most support available on them, if any. I suggest that you shop around at a couple of dealerships to get an idea of what it would cost you to lease a used Passat, A4, or 3-Series right now. Then compare those numbers to the cost of leasing a brand new model. You may find that the small difference in monthly payments does not justify going the used route. Car_Man Smart Shoppers / FWI Co-Host |
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Hi vkj. The Audi Financial Services lease money factors for a 2001 A6 2.7T are .00260 for up to 39 month and .00280 for 48 month terms through December 5th. Furthermore, the 12,000 mi/yr residual values for this car are 68% for 24 month, 63% for 30 month, 59% for 36 month, 58% for 39 month, and 52% for 48 month terms. It is possible that the dealership that you visited is using a different bank or is marking-up the lease money factors that they quoted you. I am sorry to say that I am not all that familiar with how the taxation of leased vehicles works in your state. I seriously doubt that any dealership that you deal with would intentionally overcharge you for the tax on your vehicle. This would probably be a serious violation of the law. However, if you want to make sure that you are being charged the correct amount of tax, perhaps your local Department of Motor Vehicles would have information on exactly how to calculate it in your home state. Car_Man Smart Shoppers / FWI Co-Host |
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| how much leverage do i have to force the dealer to use audi's program rates? Do these rates vary at all from state to state? will audi verify these rates in some form so that i can show them to the dealer? | |
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Vkj, you can not force your dealer to use Audi Financial Services' base rates when calculating your lease. Most banks allow individual dealerships to mark-up their rates a certain amount if they choose to. Audi Financial Services' lease money factors do occasionally vary from state to state. However, the only state that differs from their core program at this point is the state of Florida. If you are not happy with the deals that the dealership that you have visited has offered you, you always have the option to shop elsewhere. Car_Man Smart Shoppers / FWI Co-Host |
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| Hey Car Man, I was wondering what's a good price for a markup for extra mileage on a lease. I'm looking to lease a Nissan Maxima GLE and one dealer told me I would have to add $40 a month to change the lease from a 12,000 miles lease to a 18,000 miles lease with a 12 cents/miles addition at the end. Is that fair? | |
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