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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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Hey jbtwo. You would be better off having the dealer that you lease your new vehicle from cut you a check for your trade, rather than using the proceeds as a down payment on your lease. 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 vehicle would be exactly the same, regardless of whether you had put the entire proceeds from your trade down, or had made absolutely no down payment at all. I am not personally familiar with how sales tax is calculated on leased vehicles in your state, but you may be able to find out more informaiton on this subject by visiting one of the following sites: CyberDrive Illinois or Illinois Department of Revenue. All of the cars that you mentioned are very good vehicles. The two that probably have the most attractive lease programs available on them right now are the Lexus ES 330 and the Infiniti G35 Sedan, but a lot depends upon the MSRPs and selling prices so we would have to calculate some lease payments to figure out exactly which car will be the cheapest. Car_man Host Smart Shopper Forum |
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Thanks keeferb. Many domestic vehicles have terrible residual values. So much so that companies like General Motors, which took an absolute beating on the stock market yesterday BTW, artificially inflate their vehicles' residual values, often by as much as 10 points just to make them even leasable (is that even a word?). Congratulations on your new Pathfinder. It is an excellent truck. Enjoy! Car_man Host Smart Shopper Forum |
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You're welcome, elag1. Acura is not providing any sort of lease support on either of these cars right now, so the TL's money factors would be exactly the same as the ones that I mentioned earlier for the TSX. AHFC's residual values for a 36 month, 12,000 miles per year lease of a 2005 TL without navigation should currently be 60%. Its 39 month resid should be 56%. I have not seen its 42 month program. Car_man Host Smart Shopper Forum |
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Replying to: Car_man (Mar 17, 2005 4:51 am) I can lease the Acura MDX Base for $399/Mo for $999 down, 36 Months Lease. DO you think that is a better deal than either of the two Toyota's ? Thanks so much. You have been very helpful. Regards |
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Replying to: Car_man (Mar 17, 2005 4:12 am) Can't thank you enough for this information!! It will help tremendously.... If you don't mind, I may need to check back with you in a couple weeks to see what changes April brings to A6 3.2 MF/lease program -- Will you have insight to this on the first of the month? thanks again !! |
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I say thank you car_man. I have been trying through the dealer and also BMW financing to explain the rent charge to me. They both refer me back to one another. Stonewall. You saved the day. I had been putting too much emphasis on the negotiated selling price of a 525i and overlooked the MF completely. Never again. |
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Car_Man... I went to my local dealer found out that the 2006 E350 Sedan was available rather than the 2005 E320 I had you comment on in an earlier posting. Could you please provide me with the 39 mth, 15K miles/yr money factor, residual, and any "dealer cash" for a 2006 Mercedes E350 sedan located in NJ. Thanks in advance |
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I've been reading this forum for the last couple months and found a lot of great advice -- thanks! Our 2001 volvo s40 is coming off lease, and I wonder if you could help me figure out what a fair lease would be on the 2 replacement cars we're considering. We want a 3-yr lease with 0 down, 12K miles/yr. We live in New York. Option 1. Volvo v50 2.4i MSRP $26,685 (includes $695 destination charge) Selling price $24,314 (includes option of stability/traction control; also includes $1250 loyalty incentive and X plan discount) Option 2. Honda CR-V EX automatic MSRP $24,065 (includes $515 destination charge) Assume sale price of $22,730 (Edmund's TMV in our area) Thanks for your help.
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Replying to: pdjcmb (Mar 17, 2005 8:08 am) On the CR-V prices paid board.. They are reporting CRVs selling for invoice.. kurtnew, "Honda CR-V: Prices Paid & Buying Experience" #1512, 10 Mar 2005 7:24 pm regards, kyfdx |
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Car_Man, Thinking of leasing a 2004 or 2005 suburban LT1500. Would you please tell me the money factor and residual assuming a 36mth lease and 15k per year. Thanks for your help. Go8 |
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