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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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| sorry, but can you run any numbers for me 36m, 48m, 51m, & 54 months. | |
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Hi Car_man! I leased the accord coupe in satin silver..and I'm loving it! I picked it up last Saturday! To answer your question, the cap. cost for this was $20825, and I think it's not too good of a deal, to be honest. The dealer kept playing with the numbers, but at the end, i was happy with the $309.45/mo for 39 mos with $1500 down, which only came to an actual $915 towards the cap cost reduction. the rest went to taxes, doc fees, first month payment and acquisition fee. What do you think? Thanks for your input! deedee |
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| Car Man. One last note. Can you let me know the money factors and residual values. I am particularly looking at the 54 month term. | |
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Hi Joe. I am sorry to say that I only track the lease programs of manufacturers' captive finance companies. There are too many other banks out there to monitor them all and to be totally honest with you, on vehicles with any sort of lease support captive finance companies are almost always the best deal. I can tell you though, that the fact that you will need to add over $4,000 in negative equity to your deal will make leasing this car much more expensive than it normally would be. Car_Man Smart Shoppers / FWI Co-Host |
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Hi again deedee. Silver is a great color for that car. As I mentioned before, I have always been a big fan of Accord Coupes. I think that you're going to love it. As far as your deal goes, you did fine. Enjoy. Car_Man Smart Shoppers / FWI Co-Host |
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CarMan, About two weeks back I asked you for residuals and money factors for Olds Silhouettes. Has GMAC increased their rates? Dealers are quoting payment rates much higher than I'd figured using the numbers you posted. I'm trying to figure out if they're trying to clip me. Thanks, SST |
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Hi again SST. The Silhouette residual values definitely have not changed since August 1st, but I don't know how long it has been since GM revised the lease rates for this van. Right now it is 5.65% for 24 to 36 month terms. I don't believe that it has changed since last we spoke, but there it is just in case. Car_Man Smart Shoppers / FWI Co-Host |
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Car_Man, Thanks for getting back to me regarding the Silo. lease question. In your opinion, has the lease market gotten a lot tighter? I've leased my last three vehicles, and this is by far the toughest time I've had getting a deal I can live with. Has leasing fallen out of favor with the manufacturers? SST |
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Season's Greetings, Does anyone out there know of a good lease calculator? I have taken the example given in the Lease vs. Buy section on this site and set it up in a spreadsheet. However, I am curious about others. Thanks, SST |
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Hi SST. Yes leasing has become more expensive in recent months and will probably continue to do so. This is mainly because all of the banks that were leasing vehicles with high residual values (which allowed them to provide low monthly payments) are finally starting to get them back off-lease and are having to take tremendous losses because the cars and trucks aren't worth anything near their lease-end prices. Last quarter, DaimlerChrysler had to take a $400 million charge against its earnings just to cover Chrysler Financial's residual value exposure. As a result many independent banks have completely dropped out of the automotive leasing business. The ones that remain have lowered their residual values somewhat and the lease payments that they are offering now aren't nearly as low as they have been in the past. Car_Man Smart Shoppers / FWI Co-Host P.S. I just remembered that you're in the market for an Oldsmobile Silhouette. Did you hear yesterday's news that GM is phasing out Olds over the next couple of years and eventually will close down the division completely? |
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