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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 if this is redundant, but the message I posted this am is missing. I wonder if Edmunds redesigned this site and some messages came up missing. Anyway, Carman was going to help me with some numbers. I plan on leasing a 2001 Nissan Maxima, either a SE (stripped with 5-speed) or GLE (stripped.) I plan on leasing for a 36 month term, 12k miles/year and will only put fees down. This is my third NMAC lease if that counts for a better deal. My question is: what are the money factor and residual on these two cars, and assuming a sales price of Edmunds TMV, what should I expect the monthly payments to be. Thanks so much again for your help and information. Christian |
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Hi Christian. I am sorry that your previous post got lost. A few of the most recent posts seem to have been purged from the system in the move to the new Town Hall site. Thanks for re-posting it, I would be glad to help you out. Unfortunately, I do not believe that Nissan Motor Acceptance Corp. has any special lease loyalty programs running at this point. So even though this is your third NMAC lease, you will not receive any special provisions. If you decide to lease a 2001 Nissan Maxima SE without any additional options through NMAC at the Edmunds.com TMV price of $22,082 for 3 years with 12,000 miles per your approximate monthly lease payments would be $323 pre-tax without any money down. If you decide to lease a GLE with a TMV of $24,467 for the same terms your approximate pre-tax monthly payments would be $357 without any money down. I hope that this information helps you out. Car_Man Smart Shoppers / FWI Co-Host |
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My Mitsubishi "lease" (98 Montero Sport) is ending in 5 months and it seems that I am in for a real fleeceing by my dealer. They have been calling me for the past 7 months trying to get me to trade my car in early on a used vehicle. I made the mistake of going to the lot once and waste a day talking to them. After all the talk of what a great deal I was going to get they wanted me to give them my car,$4000.00, and make payments of $600.00 a month on a 96 Suburban with 62K miles! I got up and walked out. It is my understanding that I can trade my car in on a new vehicle from Mitsubishi at the end of the lease and I will have a fixed trade-in value that is in the contract. Now the dealer is telling me that I am "upside down" on the car and I must give them $4000.00 to trade the car in! So if this is true then why lease a car? What is the Advantage to the Advantage Plan? I have never missed a payment and the car is in top condition. I just received a letter from Mitsubishi credit telling me that I will have to pay a "disposition" fee if I don't buy a new car from them. They do not say how much this will be. I know I must pay $.10 a mile for every mile over my contract, but I cannot find the "disposition" fee in the contract. If I must pay them $4000 to get a new car or the "disposition" fee to return the car how can I win here? This is a long winded way of asking for advise on how not to get ripped off. I loved the car and would like a new one, but every time I have talked to them(dealer) they want higher payments than I can afford and some fee or big down payment. I am currently paying $425.00 a month and would like to pay $100 less. How can I make this work? Is my dealer just trying to put the screws to me? Thanks |
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Can someone tell me the residual and money factors for a 36/mo, 12,000 mile/year lease? |
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Hi todde2. Leases are not like cash purchases or finance contracts. When you lease a new vehicle, your monthly payments basically only cover the interest that you are being charged and the vehicle's estimated depreciation. At the end of your lease term, you will not have established any equity in the car or truck that you have been driving. The only way that you can make money on it by trading it in is if your lease-end purchase option (or the price that you are able to negotiate for your car if the bank is willing to work with you) is significantly less than your car's actual market value. This usually does not happen. As a result, most people who are leasing either purchase their vehicle and continue to drive it or just turn it in and walk away at lease-end. Many lending institutions charge what is called a termination or disposition fee at lease-end to cover the reconditioning vehicles. This fee usually amounts to around $300 or so, and will frequently be waived if you purchase another vehicle from the same manufacturer. Car_Man Smart Shoppers / FWI Co-Host |
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Hello tj99sahara. Here is the information that you are looking for. If you lease a 2001 BMW 530i through BMW Financial Services for 36 months and with 12,000 miles per year prior to the end of 2000, you will have to pay a lease money factor of .00350 and use a residual value of 61%. I hope that this info helps you out. Car_Man Smart Shoppers / FWI Co-Host |
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Thanks for the help on the Maxima, but now my wife is thinking about a Sentra. Could you provide the payment info on a 2001 Nissan Sentra SE on a 36 month/12k mile lease assuming an automatic transmission and the SE performance package as the only options. I would only be placing first month and fees down. Thanks for your help. Also, do you know about the $500 end of year cash I have seen advertised. Is this applicable on this model, and is it only til the end of the year? Thanks, Christian |
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Car_man, Hi again. I am still shopping. What are the current residuals and Money Factors for the following: Honda Prelude (base) 5-spd Honda Prelude SH VW Jetta GLS V6 5-spd 24 months, 27 months, 30 months, 33, 36, and 39 months all 12K miles??? Thanks Gregg |
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Just curious if anyone is familiar with the concept of a one-payment lease? I remember them with Cadillac several years ago. Any companies still doing these? I believe it is a lease of normal term but with no money factor and all payments are made in one lump at the beginning. FYI- I am looking at a 2001 LX 470. approx 3 years- 12,000 miles. Thanks, Eric |
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| Thanks Cabman! I thought BMW had a better program, unless I'm not calculating correctly. With an MSRP of $46,870.00, an invoice of $41,930, figuring $1,500 profit, I get a payment of $679.29 plus tax. I thought I did this with last year's model and came up with a payment about $555.00/mo? What's up with that? | |
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