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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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I plan on leasing either an '04 or '05 Acura TSX. I live in Miami, FL. I've got two questions concerning the leasing process: 1. Once and for all, what fees SHOULD I expect and not be expected to pay- disposition fee, acquisition fee, etc.? Do they depend on your credit rating and/or where you live and/or the dealership? 2. Does the residual and money factor depend on where you live, credit ratings, leasing co.?? Or is it a standard number? Thanks for all your help! |
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Hi Car_man: I have a question on leasing a company car for a small company. Both Honda and Nissan dealers ask me to have a board member of the company sign a form to show leasing such a car is approved (by the board). What's is the purpose of such? Do all manufacturers require such? |
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Interesting choice in vehicles, scott31. The Phaeton is actually a very underrated car. It is very nice, but the problem is that it's just too expensive. You are in luck because Volkswagen enhanced the lease program on this car a week or two ago. If you were to lease a 2004 Volkswagen Phaeton V8 through VW Credit right now for 36 months with 12,000 miles per, its base lease money factor and residual value should be .00030 and 55%, respectively. The numbers for an otherwise identical 42 month lease should be .00087 and 51%, respectively. When negotiating a lease on this car, keep in mind that VW just introduced $3,225 lease cash on it that will help you to negotiate an attractive capitalized cost. The $5,000 dealer cash that is available on the 2004 Phaeton can not be used in conjunction with VW Credit's special lease program. Car_man Host Smart Shopper Message Board |
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Hello viggie. Wow back to back posts about really expensive vehicles. The economy must be heating up  . The lease money factor and residual value that you were quoted for this truck are right on the money. This is a good thing because it means that your dealer is being straightforward with you. Porsche dealers frequently mark-up Porsche Credit's base lease money factors to add additional back-end profit to deals. As far as the price that you were quoted for this model goes, most Porsche dealers, except for possibly the ones on the West coast, are aggressively discounting 2004 models to get rid of their old inventory. In fact, Porsche actually made secret payments to its dealers to help them sell their remaining 2004 Cayenne S models. Having said this, the discounts are not as large on 2005 models. There is a huge spread between full MSRP and dealer invoice on the Cayenne Turbo. It is over $10,000. The quote of $5,000 below MSRP that you were given is pretty good. Having said this, even though I am not all that familiar with how much dealers are getting for '05 Cayennes yet, I would not be surprised if you were able to beat it by comparison shopping a little bit. Car_man Host Smart Shopper Message Board
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Thanks for the additional information, bpd196. If you were to lease a 2004 Nissan Murano SL AWD through Nissan Motor Acceptance Corp. this month for 42 months with 12,000 miles per, its base lease money factor and residual value should be .00105 and 56%, respectively. I would be more than happy to work up a sample lease payment on this vehicle for you, however in order for me to do so, I need you to provide me with its full MSRP and selling price. Car_man Host Smart Shopper Message Board
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Thanks for the additional info, vino1. The state of Florida is in Toyota's Southeast region, which unfortunately is a problem. As you may already be aware, Toyota does not directly distribute its vehicles to dealers that are in its Southeast region. Instead, its cars and trucks go through a distributor. In addition to adding unwanted, annoying charges and options to Toyota vehicles sold in the Southeastern U.S., this distributor also publishes its own incentives and has its own captive finance company, SE Toyota Finance. I have not seen SE Toyota Finance's current lease program for either of these models. Sorry that I could not be of more help. Car_man Host Smart Shopper Message Board |
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Thanks for posting the details of the new advertised lease for the 2004 Phaeton, kyfdx. $699 per month with $300 down is much more attractive than the $699 per month with $3,560 down that Volkswagen was advertising it for earlier this month. Car_man Host Smart Shopper Message Board |
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Replying to: kyfdx (Oct 20, 2004 6:21 am) |
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Hi enya18. The exact fees that one has to pay when leasing vary from bank to bank. If you were to lease an Acura in the state of Florida, at lease signing you would have to pay your vehicle's first month's payment, a security deposit of that payment rounded up to the nearest $25 increment, AHFC's acquisition fee of $595, and any down payment that you want to make (which ideally should be $0). I am not positive, but I do not believe that AHFC charges any sort of lease disposition or termination fee. Consumers do need to have a minimum credit score to qualify for Acura's special lease program, but unlike a number of other banks AHFC does not have different credit tiers, each with its own money factors. Either you qualify for its lowest money factor for a vehicle or you don't. Acura is not currently providing any sort of lease support on the TSX. So if you were to lease one through its captive finance company, you would have to use its standard lease money factors. Its base standard factor for a 36 month lease is currently .00245. The only reason why this factor would be higher is if you were to have your lease security deposit waived. AHFC will do so in exchange for an increase of .00010 in the money factor that is used to calculate your vehicle's lease payment. Car_man Host Smart Shopper Message Board
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Hi cheapowner. I am not exactly sure what sort of documentation is required to lease a Honda or a Nissan through a company. If both of the dealers that you spoke with told you that you need to have a letter from your company stating that the lease was approved then this may indeed me necessary. Sorry that I could not be of more help. Car_man Host Smart Shopper Message Board
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