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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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Replying to: avp2417 (Nov 04, 2004 6:28 am) http://www.leaseguide.com/calc.htm That is without tax. There are different ways to handle taxes depending on the state you are in. In some states you pay tax on the entire cost of the car, some states only on the depreciation cost, and some states you pay tax on deprication plus the finance charge. The calculator above assumes the last scenario. To give you an idea, I just finished leasing an MDX Touring with navi and res (top of the line) for 42 months/15k miles for $565 a month including taxes and 1800 out of pocket. That is with 6 percent tax here in NJ where you don't pay tax on the financing. Residual 56 percent and money factor .0023. My advice to you, is to figure out your payment with tax, using the .0026 money factor with the corresponding residuals and $500-$1000 over invoice for 36, 39, and 42 months. Remember that money factors and residuals change depending on how many months and miles you are looking for. Usually Honda will offer the best money factor for x amount of months because they want stagger the end of lease terms so they don't get a whole bunch of cars coming back at the same time. In October and November for the MDX, it was .0023 for the 42 month program. Then simply tell the dealer that is the monthly payment you are looking for and that you will pay everything else out of pocket, and let him play with numbers to match it. Once you have his best offer, go to another dealer and ask them to beat it. Most times they will, especially if it's close to the end of the month and they have the car in stock. It's not an easy thing to play one dealer against another if that is not your nature, but it's the best way to get a good deal. It also pales in comparison to the tricks they play on you. If this is your first time leasing, then definetely don't go with the first deal offered. Chances are you will get screwed. |
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| I have a 2002 Nissan pathfinder lease(Nissan Motor Acceptance Sorp.) The residual is somewhere around 16K. I am leaning toward turning the truck into the dealership it came from and just finding myself a car elsewhere that I will own outright freeing myself of car payments. Would the dealership be selling the Pathfinder on their lot after the turn in for straight profit or would they owe the 16K residual to Nissan? I know they are going to try and talk me into a new lease, but I don't want a payment. Plus, if they have to cover the residual they won't want the truck back. Just trying to figure out what I'll be up against. Thanks | |
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My dealer told me not to pay any out of pocket at all and to roll everything into the payment. His reasoning is that gap insurance will cover the difference in case of total loss. I know you defintely shouldn't put money down for cap reduction and I guess that can extend to taxes if you live in state where you tax is computed on depreciation and not the monthly payment, but what about the acquisition fee, dealer fees, and deposit????? If you roll them in, wouldn't you have to pay financing on them? I think he was feeding me BS.
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Hi, I wanted to know if you could review the lease offer that I was given on a fully loaded 2004 SE AWD Murano (includes Sunroof, Premium Package, and SE Touring Package). I believe MSRP is $35,830.00 and I live on Long Island New York (high taxes 8.5% and $795 aquisition fee). I was given a price of $424.00/month, 42 month lease, $990.00 down. ---or--- $367.00/month, 42 months lease, $3098.00 down. I think they want to get rid of the remaining 2004's but I would like to know if this is a good deal or not. THANKS! |
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| Car_man ,another on for you: 36-39m 10-12000 miles CLK320 | |
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Car_man, I have a quote from a dealer on a 2005 Civic LX, auto, w/o side airbags. Lease is 36 months, 15k mi/yr. I'm hoping you can take a look and let me know what you think: MSRP: $16,825 Selling price: $15,622.98 Adjusted Cap. Cost: $16,181.62 (includes $595 assignment fee and $36.36 down payment) Cash up front: $571.22 (includes $532.50 "inception fees" - no idea what this means, and $36.36 in down payment, and $2.36 in down payment taxes) Money factor: .00158 Residual value: 53% ($8,917.25) Total monthly payment is $241.45/mo plus 6.5% tax so grand total $257.14/mo. How does this deal stack up? Am I missing anything big? Any costs they might try to hit me with that aren't captured here? Any thoughts would be great. Thanks. |
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Replying to: qbrozen (Nov 04, 2004 9:09 am) The dealer called back and apologized for the wrong numbers. My wife and I signed a new agreement that added the Gap Insurance cost to the previous Gross Cap Cost - I'm okay with adding Gap Ins. if that's what the lender wants. Also, they managed to reduce my monthly payment another $5/mo. so overall the GAP insurance will only cost me $300.
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Replying to: 350z (Nov 04, 2004 4:26 pm) |
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Car Man Need your help, my brother is considering a Navigator. Looks like they are being heavely discounted, under invoice for purchase. Want to check on lease deals. Do you know the latest numbers. Also, is there any lease cash. |
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Car Man, I just totaled my 2002 Lexus ES 300 and am looking to lease a new BMW X5 3.0 or Audi A6. The MSRP on each is around $48,000.00. I need 18k miles per year for 3 years. Is either company offering decent leases right now? Thanks. |
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