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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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Hi Car_Man, I tried to be very thorough with the information I provided, sorry if it's overkill... Could you please take a look at this lease and tell me your opinion. I live in Northern NJ and the bank is Chase Manhattan Auto. Assuming Tier 1 pricing due to Fico close to 800. 2005 XC90 2.5T AWD Premium Package, Climate Package, Versatility Package, Metallic Paint Price: 39242.90 Term: 42 Rate: .00200 MSRP: 43470.00 Residual: .57 (Residual on shorter term was .58 or .60...) No trade in or payoff Millage allowance: 12000 (should be sufficient) No cap cost reduction (as per your usual advice) - inital payment 2621.36 Residual: 25678.50 Monthly payment: 453.00 The price was presented by the salesperson as part of the lease work-up, I have not attempted to negotiate the price yet. As per the Edmunds TMV the price is about $750 over invoice accounting for free versatility package. If anyone has thoughts about the price please post that too.
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Replying to: kzybulew (Nov 03, 2004 11:06 am) Also, why are you going through Chase? Volvo Financial has better rates. Unless you can't get a free Versatilty package going through Volvo Financial. Copper
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Replying to: infinitimn (Oct 08, 2004 1:39 pm) With your help I was able to get a very good deal for my Dad on his 2005 Rendezvous (and just in time because after 11/1, the incentives were reduced)! My Mom is looking at the 2005 Mercury Mariner 4WD and I want her to consider a lease as well. I see that Ford has just raised incentive from $1K to $2K on their Red Carpet Lease. She would not get the add'l $500 because this would be a new lease. The model she's looking at is $28,460 MSRP with an Invoice of $26,764. Edmunds doesn't yet list a TMV price (new vehicle?) but since incentives were raised, I'm assuming I could strike a good deal of $500 or so over invoice. Can you provide me with sample lease amount for 36mos 36K miles, no money down. I'd like to include the 7.75% county tax (Suburban Cook County, in IL) because I've followed your recommendation of putting NO money into the lease -- and the lease rate or money factor and residual %'s that Ford would be using. This way I can calculate a lease for different option sets. Thank you! |
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Replying to: sebring95 (Nov 03, 2004 8:16 am) Your absolutely right.! .. but it's usually because they didn't put enough money down to even cover half of their taxes, let alone the other $22,000 they financed and most will go LTF (Long Term Financing - 60/66/72 months+) then they want to trade in 28 months and that ain't happening, unless there is some big cash or some big payments .. of course we can always blame the dealer or the alignment with Mars in the latter portion of the equinox or they had a bad childhood, pick your poison .. "excuses always exceed reasons" ...........  Terry. |
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Replying to: copper (Nov 03, 2004 11:33 am) The salesperson broke it down like this: 453.00 first payment 813.86 (NJ tax) 334.50 "motor vehicle fees incld. registration for next 31/2 years) 125.00 title fee 895.00 bank fee (which includes gap insurance) went through Chase because of the free versatility package and they are currently waiving security deposit. |
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| Does NJ require tax on their leases? Something in the back of my head tells me I didn't pay tax when I leased an Audi in '01 in central NJ....could be wrong, though. | |
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I am planning on getting a Honda CRV for a field service job. I will be driving anywhere from 25k-50k miles per year. I will receive an allowance which will cover the lease payment and insurance. I also get mileage which will cover gas & maint. I only want to drive a vehicle for 3 years Should I buy with a very high payment or lease for 36m 20k miles/yr and stock money away for lease turn-in? I will have more than enough to cover excess mileage charges. Can I get hit with $5000 for excess wear? The MSRP on the vehicle is around $24K
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Hi charlie1volley. If you enjoy driving your truck and can purchase it for less money than it is currently worth on the open market, then you may want to consider purchasing it from the bank that you are leasing it through at this time. In addition to the excellent sources that you have already checked to see what your truck is currently worth, you also may want to stop by the following discussion that appears here in the Smart Shopper forum: "Real-World Trade-In Values" . One of our most knowledgeable community members, Terry, hangs out in that section of this site and he is often kind enough to give community members his opinion of their vehicles' current value. Just make sure to post a detailed description of your Tundra, including its trim level, color, miles, options, condition, and your location. Car_man Host Smart Shopper Message Board
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Hi again, kally. Infiniti Financial Services' residual values for the 2005 Infiniti G35 Sedan are currently slightly higher, one percent, than its residual values for the 2004 model. All things being equal, namely selling price and money factor, the higher a vehicle's residual value is, the lower its lease payment will be. All things are not equal with the '05 and '04 versions of this car though. The 2004 currently model has lower money factors and you will probably be able to negotiate a lower selling price on a leftover '04 than you will be able to on an '05 at this time. If I had to make an educated guess, I would say that you will probably be able to lease an '04 G35 AWD for less than you would be able to lease an '05 model for at this time, but you might as well get payment quotes on both to find out for certain. As far as your current car goes, you are better off selling it on your own or trading it in and having this dealer cut you a check for it rather than using the proceeds from it as a down payment on your lease. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, 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 your lease-end purchase option price for this G35 would be exactly the same, regardless of whether you had used the proceeds from your trade as a down payment, or had made absolutely no down payment at all. Car_man Host Smart Shopper Message Board |
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Hey siemon321. Honda's lease program for the 2005 Civic has changed for the month of November. If you were to lease a 2005 Honda Civic LX Sedan or EX Sedan through American Honda Finance Corp. this month for 2 years with 15,000 miles per, its base lease money factor and residual value should be .00148 and 58%. The numbers for an otherwise identical 3 year lease should be .00148 and 53%. Car_man Host Smart Shopper Message Board
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