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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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Car_man - I won't be buying the accord and pilot until May or June of this year. Does AHFC typically have some sort of deal going all year round or will I just be on my own? Is the summer typically a good time or bad time to lease a new care? Also what is the residual on the accord and pilot for 36 months that you used? 48months? Finally I assume the money factor is just another way of expressing an interest rate and the rate will depend on my credit rating. How do I go about getting the best money factor? Do I call around to banks? online service? What should I expect to get if I have a credit rating in the 700 range? Thanks a million. Jeff |
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No problem, wagagog. I can understand your infatuation with turbo. The car I am currently driving has a turbocharged engine and I love it. Congratulations on your new ride and enjoy! Car_man Host Smart Shopper Forum |
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You're very welcome, Vick. I am not an accountant, so I really can not tell you whether purchasing or buying would be better for you tax wise. It would be in your best interest to consult your accountant prior to leasing or financing a new vehicle. Car_man Host Smart Shopper Forum |
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Hi rlefort. the first problem that I have with this lease is the whopping $4,000 down payment. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for this ES 3330 would be exactly the same, regardless of whether you had put $4,000 down, or had made absolutely no down payment at all. I would be more than happy to give you my opinion of this deal, but in order for me to do so I need you to provide me with this car's full MSRP, including destination charges, and its selling price. Remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash. Without knowing this car's selling price, in relation to its full MSRP or invoice price, it is difficult to tell how good a deal you are getting. Furthermore, the MSRPs and selling prices of vehicles are necessary to calculate lease payments on them. I can work up a sample lease payment on this car for you using Lexus' actual lease program if you give me these numbers. We then can compare the payment that I come up with to the one that you were quoted. Car_man Host Smart Shopper Forum |
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Hi rbarone. Unfortunately, I do not follow General Motors' SmartBuy program all that closely, so I do not know the details of its current SmartBuy offer on this truck. I would be able to work up a sample lease payment on it for you though. This Blazer's lease payment would not be exactly the same as its balloon note payment, but since the monthly payments that are provided by GM's SmartLease and SmartBuy programs are usually relatively close, it would at least give you an idea of what sort of payment to expect. Car_man Host Smart Shopper Forum
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Hi again cmz. Wow, three years later huh? Time certainly flies. Nissan Motor Acceptance Corp. used to allow consumers who qualified for its top three credit tiers qualify for its best lease money factors. I believe, but am not absolutely positive, that this is still the case. If you were to lease a 2004 Nissan Murano SL AWD through NMAC right now for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00165 and 55%, respectively. Nissan seems to be providing the most lease support on 42 month leases of this model this month. Its numbers for an otherwise identical 42 month lease should be .00093 and 53%, respectively. Car_man Host Smart Shopper Forum
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Hi suebeedux. I have heard about a number of consumers having problems with the Infiniti QX56 and Nissan Armada, but do not know how prevalent they are lately. You may be able to find out more information on this subject by visiting the "Infiniti QX56" discussion that appears here on the Edmunds.com Forums. I would be more than happy to give you an idea of what this truck's current lease program is like. If you were to lease a 2005 Infiniti QX56 AWD through Infiniti Financial Services right now for 36 months with 15,000 miles per year, its base lease money factor and residual value should be .00176 and 53%, respectively. The numbers for an otherwise identical 4 year lease of this truck should be .00179 and 44%. Car_man Host Smart Shopper Forum |
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No problem, prince812. Toyota has not introduced a 2005 Avalon. It is in the process of redesigning this car, but I believe that its redesigned version of the Avalon may end up being a 2006 model. I can tell you about the 2004 Avalon if you would like. Car_man Host Smart Shopper Forum
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Jeff, Honda's current lease program is scheduled to run through February 28th. If you lease either of these models after this date, you would have to use a different lease program. Check back with me during the month that you plan on leasing and I will be more than happy to fill you in on the lease program that is available at that time. There's nothing wrong with getting a new vehicle during the summer, but you may want to lean towards getting your new car and truck at the end of the month when dealers often seem a little more willing to deal. A vehicle's lease money factor is indeed used to determine the interest portion of lease payments. You can convert a money factor into an approximate interest rate equivelent by multiplying it by 2400. One can not negotiate a vehicle's money factor in that dealers do not have the authority to use a lower money factor than the one that a bank publishes to calculate a vehicle's lease payment. Dealers can often mark-up vehicle's money factors to add additional back-end profit to deals though, so it pays to know what a bank's published money factors are. Banks will not provide this information directly to the general public, but I should be able to give you an idea of what the lease program is like on a vehicle at any given time if you ask me. Car_man Host Smart Shopper Forum |
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| Hi Carman, I have an offer to lease an 04 G35 AWD Sedan w/Premium Pkg for $497(incl. tax) per month with only $500 total out of pocket at inception, with 18k miles per year and they will pay the $2400 I still owe on my 02 Pathfinder. Is this a good deal or would I be able to get a similar deal in 6 months on an 05 when I turn in my pathfinder? I guess what I'm trying to determine is if this deal is outstanding or is it something I will be able to match in 6 months... | |
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