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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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Funky1020, as long as this money that you paid at lease signing does not include a capitalized cost reduction, this deal looks good to me. Car_man Host Smart Shopper Forum
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Hi Sri. A selling price of below invoice is a very attractive deal on a 2005 Sienna. I would be more than happy to try to calculate a sample lease payment on this van for you id you let me know what its full MSRP is. Car_man Host Smart Shopper Forum |
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My what a descriptive username you have, wifeneedsvan. I would be more than happy to help you out with the information that you are looking for. According to the latest information that I have seen, if you were to lease a 2005 Honda Odyssey EX w/ Leather and Rear Entertainment System through American Honda Finance Corp. right now for 3 years with 15,000 miles per (let me know if you need info on a different term / mileage, you never mentioned which one you want), its base lease money factor and residual value should be .00225 and 57%, respectively. Using these numbers, an MSRP of $28,987, and a selling price of $31,500, I come up with a zero down, pre-tax monthly paymet of around $525. Having said this, I think that you mixed up this van's MSRP and selling price. The selling price is almost always lower than the MSRP. If one was to reverse these numbers, the monthly payment would be a much more reasonable $413. Car_man Host Smart Shopper Forum |
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Hi krishno22. I can tell you right now that you were mislead when you were told that the only lease program that was available on the Nissan Altima right now requires $2,600 down. Consumers can lease whatever vehicle they want without making any sort of down payment at all. In fact, it is in your best interest not to make any sort of capitalized cost reduction when leasing. 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 your new car would be exactly the same, regardless of whether you had put a ton of money down down, or had made absolutely no down payment at all. Nissan's current lease money factor and residual value for a 2 year, 12,000 miles per 2005 Altima S leased through NMAC right now are .00060 and 59%, respectively. Using these numbers, an MSRP of $20,550, and a selling price of $18,925, I come up with a zero down, pre-tax monthly payment of $218. Car_man Host Smart Shopper Forum
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Hello smith83. As one might expect, Lexus is not currently providing any sort of lease support on the redesigned 2006 GS 300. As a result, if you were to lease one through Lexus Financial Services right now, you would have to use its standard lease money factors. Its base standard lease money factor varies depending upon what your credit rating is. If you qualify for its absolute best credit tier, its base money factor is .00215, which is quite a bit lower than the .00275 that you were quoted. This credit tier is called Sign and Drive +. LFS' Tier 1 credit tier's money factor, which for some reason is not the best tier, is still only around .00235. My guess is that the dealer that you are working with is marking-up LFS' base lease money factor to add additional back-end profit to a deal on a new product that is in relatively high demand. I would be more than happy to calculate a sample lease payment on this car for you, but in order for me to do so I need you to tell me its selling price. Car_man Host Smart Shopper Forum
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You're welcome, ncdriver1. I believe that Mazda Credit's lease acquisition fee in your state is currently around $475. I do not believe that it charges a disposition fee at lease-end, but I am not absolutely positive. Car_man Host Smart Shopper Forum |
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You have a really nice car, peteg. It should last you much longer than it already has without causing you any major problems. Your least expensive option would be to continue driving your current car. Whether or not you should get a new vehicle, completely depends upon how badly you have that new car itch. Car_man Host Smart Shopper Forum |
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Hi lbumbalo. Your car's first month's payment, security deposit, bank fee (or acquisition fee), sales tax, plates, and registration are all normal fees that lessees have to pay at signing. The only one that will vary is your car's sales tax, as the methods for calculating sales tax on leased vehicles vary from state to state. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the car that you are interested in for you if you let me know what these numbers are. Car_man Host Smart Shopper Forum |
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Car Man I am getting ready to pull the trigger on the BMW 330i lease. What should I be looking for in the paperwork to make sure the dealer does not play any games? I am not anticipating paying any additional or "hidden" fees or extra money for anything other than the 1 payment for the total cost of the lease according to the verbal agreement with the dealer. Please provide me with any feedback or recommendations. Thanks, Mike |
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Replying to: Car_man (Mar 15, 2005 5:29 pm) The two sites that I tried were http://www.leaseguide.com/calc.htm and http://www.calculator.com/pantaserv/lease.calc I also tried out the Edmunds calculator. So the only place that I think I'm making a mistake is the car value at the end of the loan which I have at 12,125. Is that the number that is throwing me off? |
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