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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
You are in the Smart Shopper-Archives Forum. Your Hosts are kirstie_h & tidester
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Here you go, Edmund. According to the latest information that I have seen, if you were to lease a 2005 Subaru Impreza 2.5 RS sedan through its captive finance company for 36 months with 15,000 miles per year, its base lease money factor and residual value should be .00190 and 58%, respectively. The numbers for an otherwise identical 39 month lease should be .00190 and 56%. If you were to lease this model with only 12,000 miles per year, its residual values would be 1% higher. Car_man Host Smart Shoppers Message Board |
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Hi Van. I would be more than happy to try to give you an idea of what the lease program is like on this car right now. According to the latest informaiton that I have seen, 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 58%, respectively. When negotiating your deal on this car, keep in mind that BMW is providing $1,200 dealer cash on it this month. This money will help you to negotiate a more attractive capitalized cost. This car's 12,000 miles per year residual value for this term is 60% and its 10,000 miles per year residual is 61%. Car_man Host Smart Shoppers Message Board
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No problem, tampabay. I am glad that I was able to help you out. Car_man Host Smart Shoppers Message Board |
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Greetings mtamsett. Let me begin by saying that if you choose to trade your current vehicle in rather than sell it on your own, you definitely should not use the proceeds from it as a down payment on your lease. I always advise consumers against making down payments on leases for two main reasons. The first is if your car 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 your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So this car's lease-end purchase price would be exactly the same, regardless of whether you had put $8,000 down on it or had made no down payment at all. I would be more than happy to calculate a sample lease payment on this car for you. However, in order for me to do so, I need you to provide me with its full MSRP. Car_man Host Smart Shoppers Message Board
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Hello tierramom. Vehicles' residual values are based upon a percentage of their full MSRPs. The lease money factor and residual value that you were quoted are right in line with what I would expect them to be for this model right now. None of the lease calculators that are available on the Web are very accurate. This is because none of the calculators that I am aware of use manufacturers' actual lease programs. Instead, they use some sort of average interest rate and residual values from an independent source like ALG to provide consumers with an approximate idea of what the lease payment should look like on the model that they are considering. The best way to get an accurate lease payment for the vehicle that you are considering is to find out its full MSRP, selling price, money factor, and residual value and then calculate its payment manually using the formula that is outlined in the following article: Calculate Your Own Lease Payment. All banks that lease vehicle charge an acquisition fee. This fee has nothing to do with individual dealers and is not negotiable. The only way to get out of paying an acquisition fee at lease signing is to add it to your vehicle's capitalized cost and bake it into your lease payment. Volvo Finance's specific acquisition fee is $595 in every state but New York. I doubt that you will be able to get a better deal on your own than you will if you have a dealer arrange a lease for you. Most major independent banks that lease vehicles, like Chase and Wells Fargo do not deal directly with the general public. Car_man Host Smart Shoppers Message Board |
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Hey superbeagle. Lexus is not currently providing any sort of lease support on the 2004 RX 330. I would be more than happy to try to give you an idea of what sort of lease money factor and residual value you can expect on this "truck" right now. However, in order for me to do so, I need you to tell me how long you want to lease it for and how many miles per year you need to be able to drive it. Car_man Host Smart Shoppers Message Board
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Anonymousposts, if you were able to get this car for only a couple hundred dollars over invoice without any sort of lease money factor mark-up other than the one that AHFC requires for the waiver of a vehicle's security deposit then you definitely did indeed get a good deal. Car_man Host Smart Shoppers Message Board |
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Replying to: Car_man (Jul 21, 2004 4:04 am) |
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Replying to: Car_man (Jul 21, 2004 3:45 am) The MSRP is $42,690.00 |
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If you feet as though you were getting ripped off, denisempmp, why did you take delivery of your car instead of taking time to comparison shop at another Honda dealer or two? It looks to me as though you were given $2,100 less for your trade than you owed on it. Did you roll this negative equity into your lease? If so, your lease payment is much higher than it would have been if you hadn't traded your old car in. It is difficult for me to give you my opinion on this car's selling price because this is a somewhat complicated deal, but making an educated guess it appears as though you got your Accord for around $1,000 over invoice after taking Honda's dealer cash and your negative equity into account. This is a decent price, but you may have been able to get them down to around $500 over. I just worked up a sample 3 year, 12,000 miles per lease payment on this car using the prices that you mentioned in your post and came up with a zero down, pre-tax monthly payment of around $341. This payment would be higher if you were to have your security deposit waived or if your mileage allowance was 15,000 miles per year. Car_man Host Smart Shoppers Message Board |
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