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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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Hello nikinnicky. You never mentioned the lease payment for this car, but this late in the model year it often turns out that one can lease an equivalent brand new model, i.e. a 2005 Accord, for as much as, or even less than a leftover one. For instance, a base 2005 Honda Accord LX 4-cylinder Sedan with an MSRP of $24,315 and a selling price of $22,433 ($500 over invoice), would have a 3 year, 12,000 miles per zero down, pre-tax monthly payment of around $266. While this may be slightly more than the payment that you were quoted to lease the 2004 model, it is a brand new car with no miles on it and it has never been in an accident. Car_man Host Smart Shopper Forum
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Thanks for the additional information, ev12. OK, according to my calculations, if you were to lease a 2005 Honda Pilot EXL w/ leather and DVD with an MSRP of $34,225 and a selling price of $31,400 through American Honda Finance Corp. right now for 3 years with 12,000 miles per, its zero down monthly payment should be around $381. Car_man Host Smart Shopper Forum |
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Replying to: jcrawford (Mar 15, 2005 1:40 pm) MSRP - 28920 Sale price - 25467 Cap cost reduction - 2155 Net cap cost = 25467 - 2155 = 23312 Money factor - .00016 Residual - 57% (16484.40) So, your depreciation portion is cap cost minus residual divided by # of months. (23312 - 16484.40)/24 = 284.48 Interest portion is cap cost + residual x money factor. (23312 + 16484.40) x .00016 = 6.37 Pre-tax payment = 284.48 + 6.37 = 290.85 |
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You're welcome in advance, lease_is_up. Here is the information that you are looking for. If you were to lease a 2006 Mercedes-Benz E350 4matic through Mercedes-Benz Credit right now for 36 or 39 months with 12,000 miles per year, its base lease money factor and residual value should be .00310 and 62%, respectively if you qualify for its Tier 1 credit tier. The money factor for an otherwise identical lease with 10,000 miles per year would be the same, but the residual value would be 1% higher. Car_man Host Smart Shopper Forum
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You're very welcome, petoz. Banks' lease programs are not negotiable in that individual dealers do not have the authority to lower their published money factors. Having said this, dealers usually do have the authority to mark-up banks' base money factors to add additional back-end profit to deals, so you have to make sure that the published money factor is being used to calculate your car's payment. Car_man Host Smart Shopper Forum |
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Here is the information that you are looking for, elag1. If you were to lease a 2005 Acura TSX without navigation through American Honda Finance Corp. right now for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00220 and 58%, respectively. A 39 month lease of this car would have the same money factor, but a residual value of 56%. Car_man Host Smart Shopper Forum |
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Hey craigmil. Let's play with some numbers and see what we come up with. According to my calculations, if you were to lease a 2005 Volvo S40 with automatic and Select package, an MSRP of $27,305, and a selling price of $26,668 (the invoice that you posted + $500) through Volvo Finance right now for 3 years with 15,000 miles per, your zero down, pre-tax monthly payment should be around $418. If you were to lease this car with only 12,000 miles per year, it would drop the payment to around $404. Car_man Host Smart Shopper Forum |
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I sure can, kbrown. If you were to lease a 2005 Infiniti G35 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 .00172 and 58%, respectively. The numbers for an otherwise identical 39 month lease should be .00172 and 57%. Using these numbers, an MSRP of $36,500, and a selling price of $33,700, I estimate that this car would have a zero down, pre-tax 36 mo. 15k payment of around $443 and a 39 month payment of around $425. Car_man Host Smart Shopper Forum |
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Replying to: Car_man (Mar 16, 2005 5:00 am) Thanks in advance. The 4Runner Sport 4WD V6 has a MSRP of $33,005, Invoice of $29363 and I am assuming that it would retail for no more than $31,000. The Highlander V6 Limited AWD has a MSRP of $35,535, Invoice of $31,420 and I am assuming that it would retail for around $32,000. In either case, I am looking to lease for about 36 months and less than 10,000 miles annually. I prefer not to put down more than $1,000 for Cap Cost Reduction. What should be a fair lease payments ? My credit score should be fine. Regards |
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Hi jetfan. I have a feeling that this lease is not being run through Volvo Finance. I say this because of the significant discount that you were given on this car. Volvo is providing a $6,500 cash incentive on leases of 2005 S60 R models through banks other than Volvo Finance right now. If you were to lease through Ford's Z-Plan, you would be able to get an attractive selling price on this car before incentives, however if you lease a vehicle using this plan you may be required to do so through the captive finance company, Volvo Finance. If that is indeed the case, apparently you would be better of not going through the Z-Plan, taking advantage of the large cash incentive, and leasing through an independent bank. Car_man Host Smart Shopper Forum
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