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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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Greetings kzybulew. The lease program that this dealer is using to calculate the payment on this XC90 is average, but nothing special. The selling price that you were quoted is reasonable though. Volvo just introduced a new lease program for this model for the month of November. Before pulling the trigger on this offer, you may want to see is Volvo Finance's new program better than the one that your dealer is currently using. I should be able to give you an idea of what it it like if you check back with me in a few days. One thing that I noticed about your deal is that the amount due at lease signing is a little on the high side. Typically consumers who are not making any sort of capitalized cost reduction have to pay their vehicle's first month's payment, a security deposit that is equivalent to that payment rounded up to the nearest $25 or $50 increment, and an acquisition fee of around $500 to $600 at signing. All of this would add up to around $1,500 to $1,600 on your deal. Are you paying any sort of taxes at lease signing? Perhaps this is why your amount due is higher. Car_man Host Smart Shopper Message Board
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Hey Car_man... just wanted to see if you got a look at the new residual values for Lexus yet...below was my original post: Looking at a '05 Lexus IS 300 E-shift; Options are Lthr & Alcan Pkg, Htd seats, Spoiler, Skid Control.....Total MSRP is 33645, lets say we can get it for 30100. Can you give me the resid. and money factor for 36 mo. 15k/yr. Assume $0 down, tax in NJ is 6% can you give me an idea what the monthly would be? If there are better combos like 39 months let me know. I told my wife we can't do anything until we hear from you!! You've been very helpful in the past. Thanks again! |
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I am glad to hear that everything worked out well with your father's Buick Rendezvous lease, desgnconcpts. Even though the customer cash incentive on the 2005 Mercury Mariner was recently enhanced to $2,000, the lease cash on this vehicle is still only $1,000. I am not intimately familiar with what the market for this model is like in your area at this time, but if I had to make an educated guess, I would say that after taking the lease cash into account you should be able to lease one for right around invoice to perhaps $500 or so under. Let's work up a sample lease payment on this vehicle for you and see what we come up with. According to my calculations, if your mother was to lease a 2005 Mercury Mariner Luxury 4WD with an MSRP of $28,460 and a capitalized cost of $26,764 (invoice) through Ford Credit this month for 3 years with 12,000 miles per, her zero down, pre-tax monthly payment should be right around $412. I arrived at this payment using a lease rate of 6.25% and a residual value of 56%. Car_man Host Smart Shopper Message Board |
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Replying to: Car_man (Nov 04, 2004 4:40 am) Do you have the numbers for the Honda lease program for the 2005 Civic EX for 36 and 38 months with 12,000 miles? Thanks! |
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| My fiance is looking at a G35 coupe, leasing for 36 months at 15k miles. The FMV is $32k, the MSRP is $34k. What kind of lease pymt are we looking at? What is the money factor right now and residual? | |
| Can you let me know the mf and residual on a 2005 RX330 for 36 and 39 months? | |
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Car_man has lexus released November residuals yet? I'm interested in LS430 36-39m 10-12000 miles |
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Yesterday I was quoted $750 below MSRP in Chicago West Suburbs using the Costco discount (which works out to $34,150 plus $570 destination/handling). The dealer quoted me a 42 month lease at $619 and a 39 month lease at $659, both with $2000 down. Dealer said it would take $1000 down, and would raise lease prices about $25 per month. The lease is through Honda and includes 15,000 miles per year. Looking at other posts, these rates seem high. I haven't seen the worksheet yet, but I was told MF of .0026 and residual of 55% (which I think works out to $19,195). When I plug these numbers into the edmunds lease calculator, the payments are $582 for a 39 month lease. What am I missing? This is my first time leasing and, despite reading up on it, I am getting confused. Is this dealer trying to rip me off? Thanks in advance for any help.
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Replying to: drdog (Nov 03, 2004 6:19 pm) Honda CR-Vs, even with high mileage, have a very high resale value.. The residual on a 15K lease may reflect this, but the excess mileage charges you would incur, even if buying the miles upfront would not.. I would advise buying the car on a 3 year loan term... $24K borrowed at 4% for 36 months is about $710/month.. I'd much rather pay that to drive the car for 100K miles, then possibly get $8K-$10K back in resale, than to pay $500/mo. for a 36mo/90K lease, then still get hit with possible mileage and wear/tear penalties.. You could even get the warranty extended to 100K for around $900-$1000. Really high miles isn't a good situation for leasing, especially since you aren't sure of your mileage needs (25K-50K?). Even if you pay a little more for the car than the total of your monthly expenses, you will be financially ahead in the long run. regards, kyfdx |
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Replying to: Car_man (Nov 04, 2004 4:53 am) Another poster questioned the amount due at lease, the salesperson broke it down like this: The salesperson broke it down like this: 453.00 first payment 813.86 (NJ tax) 334.50 "motor vehicle fees" incld. registration for next 3 1/2 years) 125.00 title fee 895.00 bank fee (which she said includes gap insurance) I asked why she went through Chase instead of Volvo and she said because of the free versatility package and Chase is currently waiving security deposit. I met with her on Nov. 2nd. Do you think the bank fee is unfairly high? I've seen you post that the dealer can inflate that # for profit. What would a fair amount of profit be for a dealer on this vehicle in Northern NJ? I'm fine with being fair, I just don't want to be taken advantage of... As per the Edmunds TMV the price is about $750 over invoice accounting for free versatility package, if they're adding another $300 or so to the bank fee that is already $1000 profit, not including holdback or other incentives I don't know about- my impression is that there should be some wiggle room in that figure - what would be reasonable? Another poster questioned paying tax on the lease in NJ, do you have any knowledge of that? Thanks so much, kzybulew
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