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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. Do you have the Nov. residual & MF for the 2005 Accord EX-L and EX-V6? I'm looking for 36 months and 12 or 15,000 miles. Thanks in advance. |
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Replying to: slocko (Nov 04, 2004 11:48 am) The first two leases I got were right after tax return time, so I had my big government tax return burning a hole in my pocket. It was also before I had done a lot of research into leasing. Let me just give you an example of how wrapping everything into the lease could work out. My current lease is a 2004 Odyssey EXL-RES. I have applied basically the same numbers to a 2005 Odyssey lease. These numbers will all change based on the numbers you are given, but these are my numbers: MSRP: $32410 Residual Value: 53% (48 Mon. Lease, 12,000 Miles) Discount: $2843.26 (Invoice + 2%) Down Payment: 0 Net Cap Cost: $29566.74 Acquisition Fee: $495 (fairly typical for a lease) Registration Fee: $45 Document Fee: $100 First Months's Payment: $369.46 Lump Sum Tax: $1121.37 (6.75%, must pay up front in Ohio either rolled in or out of pocket) Gross Cap Cost: $31697.57 Total Depreciation: $14520.27 Money Factor: .00137 (3.288%) Total Interest (Money Factor) Payments: $3214.01 Termination Fee: $395 Total Payments for 48 Months: $18129.28 (Includes depreciation, interest payments, termination fee) To sum up, with zero down and zero out of pocket, I pay $369 a month for 48 months. If I pay the acq. fee, the regis. fee, the doc. fee, and the first payment ($322.16/mon, lower because all of the fees, interest, and taxes are not included) and tax ($1043.78, also lower) out of pocket on day one I pay $2005.94. Now you may say the montly payment and the tax is lower. The interest is also lower by $140 over the life of the 48 month lease. Over the life of this lease I pay $17864.27, or only $265.01 less than when everything is rolled in. That is less than one month's payment. Why so little savings when you are paying interest on the rolled in amount? Well, remember, you pay about $2000 up front out of pocket to lower your payments by $47 each month, or a total of $2270 over 48 months. When rolled in, all the fees and tax you pay are amortized, so you actually only pay for the depreciated part. For my money, I would rather keep my cash (tax return or whatever) and spend the extra $47 each month rather than pay the $2000 up front (which amounts to about $42 a month).
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**For my money, I would rather keep my cash (tax return or whatever) and spend the extra $47 each month rather than pay the $2000 up front** ...... Bingo.! 14,000+ posts .. and finally we have our first genius .. he's right.! Terry. |
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Replying to: jerhot (Nov 05, 2004 9:18 am) Thanks for taking the time to write all that out. kirstie_h Roving Host & Future Vehicles Host
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Replying to: kirstie_h (Nov 05, 2004 11:40 am) Another advantage of leasing, is you can see exactly what your car expenses are.. When you put down a large amount upfront, you are just "muddying the waters". My rule of thumb is 1st payment and security deposit only at signing. regards, kyfdx |
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Replying to: kyfdx (Nov 05, 2004 11:48 am) kirstie_h Roving Host & Future Vehicles Host |
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Replying to: kyfdx (Nov 05, 2004 11:48 am) my question is if you put everything into the payment, will you have to pay finance charges and does gap insurance cover it? that's all. just wondering if the dealer is trying to get me to lease a higher amount so he can look better and I pay more in interest. i have no problems rolling taxes because in NJ I don't pay any finance charges on that. But if I roll in deposit, first payment, dealer fees, registration, will it be financed? I rather pay those up front and not pay any interest since I have the money. but if you don't have to pay any interest on it, then i am 100 percent with you guys. The 1800 out of pocket covered acqusition fee, doc fees, first payment, deposit, and registration.
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Replying to: slocko (Nov 05, 2004 1:22 pm) And yes, you do pay finance charges on anything that isn't paid up front.... But, on most leases that is anywhere between $0.50 and $2.50 per thousand per month.. So, roll $2K into the lease and it will cost you $1.00-$5.00 per month, depending on your money factor. regards, kyfdx
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Hello everyone... need advise. I have test driven both the E320 and the 530i and enjoy both even though both cars are totally different. Question is what should I expect with negotiations as it relates to bottom line price, monthly lease (36,000 3 years, 53K MSRP for both)and any additional incentives? 2005 models living in Illinois Thanks, Dale |
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Car_Man, Thanks for the all the information you provide in this forum - it really helps level the playing field. I'm considering the 2005 350z roadster (touring). Do you have the base money factor and 24/36 month residuals (  12k/yr)? Any idea if Nissan may come out with a year end incentive?
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