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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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I am negotiating a lease on a 2005 Nissan Murano SL AWD with Leather package, Bose system etc. MSRP around $35,000-$36,000. Looking at 42 months, 18,000 miles needed. They will give me about $2,500 for my car on trade. Lease rates are coming in at $390 or so per month. What's a good lease deal on this one? Thanks. |
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Replying to: krishno22 (Mar 17, 2005 3:14 pm) 2005 Altima 2.5 S Auto w/Splash Guard, Protection Pkg & Mats (model #05715/05215) subject to availability to qualified lessees through Infiniti-Nissan LT. $1,699 initial payment required at consummation. Includes $1,500 consumer down payment, $199 first month payment, $0 security deposit. MSRP $20,620 includes destination charge. Net capitalized cost of $19,042 includes a $550 non-refundable acquisition fee ($795 non-refundable acquisition fee for residents of New York and Rhode Island). Dealer discount required, which may affect actual price set by dealer. Monthly payments total $4,776.72. At lease end, purchase for $14,434.00, plus $150 purchase option fee (except KS & WI), plus tax, or pay excess wear and tear plus $0.15 per mile for mileage over 12,000 miles per year. Lessee is responsible for maintenance and repairs. See participating dealer for details. Offer ends 03/31/2005 14,434 / 20,620 = 70% residual. If you plug these numbers into a lease calculator you get a MF of 0.0002 to get the $199 per month payment. They are rolling the acq fee into the lease. If you don't want to put anything "down", then we add $1,500 to the cap cost: $19,042 + $1,500 = $20,542 net cap cost. Plugging this into the calculator shows a payment of $261.50. Your dealer is discounting the car more - but must also be charging you a doc fee or something. To get $245 a month your net cap would be $20,150. If we take your selling price (they say) plus the $550 acq fee this leaves $650 missing. But as you can see, if you take Nissan's advertised special and pay nothing down you would be paying MORE than what your dealer is asking. So your dealer is not TERRIBLE - just needs to be a little better. I saw an ad for a Boston area dealer showing the 2.5s for $149 a month with $0 down - but even if they made $0 on the sale I don't see how they could do this. Dennis |
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Replying to: krishno22 (Mar 17, 2005 3:14 pm) Here are my numbers for your case: Scenario 1, you pay first month, acquisition fee, title and license at inception: MSRP: 20,550 Price: 18,950 Cap Cost: 18,950 MF: 0.0006 Residual: 69% Paid at inception: 1st month + Acq. Fee (550) + Title + License Calculations: Residual Value: 20,550 * 69% = 14,179.50 Depreciation: 18,950 - 14,179.50 = 4,770.50 Depreciation Per Month: 4,770.50 / 24 = 198.77 Rent (financial) Charge Per Month: (18,950 + 14,179.50) * 0.0006 = 19.88 Payment (before sales tax) = 198.77 + 19.88 = 218.65 Scenario 2, you pay first month, title and license at inception, and the acquisition fee gets rolled into the lease payments: MSRP: 20,550 Price: 18,950 Cap Cost: 18,950 + 550 = 19,500 MF: 0.0006 Residual: 69% Paid at inception: 1st month + Title + License Calculations: Residual Value: 20,550 * 69% = 14,179.50 Depreciation: 19,500 - 14,179.50 = 5,320.50 Depreciation Per Month: 5,320.50 / 24 = 221.69 Rent (financial) Charge Per Month: (19,500 + 14,179.50) * 0.0006 = 20.21 Payment (before sales tax) = 221.69 + 20.21 = 241.90 As you can see, it all depends on what "zero down" means to your dealer. Pay attention to what the contract says and make sure the money is going to where it is supposed to. I believe though that the MF and residual your dealer is giving you are right and current. At the end of last month the terms were 70% and .00021, as Dennis mentioned. One last thing to consider, the residual differential between the 12k and 15k is 1%, so getting extra 6,000 miles of allowance will cost you about $205, as opposed to $900 if you had to pay for them at the end of the lease. Hope this helps.
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Replying to: passat_mx (Mar 17, 2005 4:34 pm) >> your dealer is giving you are right and >> current. At the end of last month the terms >> were 70% and .00021, as Dennis mentioned If you go to the Nissan web page and look at the specials you should see the exact deal I posted: $199 a month with a 70% residual. The offer expires at the end of this month - so it must still be good. Dennis
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Car Man, I am still in the market for a Sequoia. Can you tell me the current lease rates and residuals for March? I am looking at a 36mo/12K lease on a SR5. Thanks. tcmotorcity |
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I want to purchase a corolla S for a 2 year lease. The MSRP is 19,200. What would the residual be? Thank you! |
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Wow, lots of interest in Saabs lately. Car_Man, I gracefully ask that you allow me to bug you yet again. What is the MF and residual for a 2005 Saab 9-3 Aero? 36 months, 15k miles per year. Also, can you tell me all the lease cash and dealer cash I'm eligible for? I've noticed you stated that the incentives vary depending on geographic region. I am in the state of Florida. Thanks a million! |
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Replying to: Car_man (Mar 17, 2005 4:41 am) Saab 93 Linear Selling price $27,570 24 month/12K Residual 59% MF .00001 Acq Fee $3350 (this is the "due at lease inception" #, includes "down pmt., sec. dep., acq. fee & first mo. pmt." I also added the $350 disposition fee into this figure - not sure what that is) When I plug all these numbers in, the calculator gives me $659.72 monthly pymt. Saab is offering $248.21. What am I doing wrong?
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Replying to: Car_man (Mar 15, 2005 4:47 am) >> leases lately. If I had to guess at what its >> lease money factors were like on this car >> right now, I would say that they probably are >> around .00300 to .00320 for consumers who >> qualify for its top credit tier. I can tell >> you that Mazda is providing $1,000 customer >> and $1,000 dealer cash on leases of the '05 >> RX-8 through its captive finance company. I dealer with very aggressive pricing told me 0.00320 MF and 50% residual on a 36mo/36k lease - so that sounds about right to you? I looks like I can do these deals for an 05 6mt RX-8 w/GT pack an NAV - $33,685 MSRP: Captive MAC: purchase price will be $31,080 - $2,000 in rebates = $29,080. Assuming I pay acq fee and tags at signingw/first payment, then with 0.00320 and 50% then residual is $16,842.50 and the base payment will be $486.88. 3rd party bank: 0.00215 (I should get a discount on this rate) and 49% . I am not clear if I get the $1,000 rebate or not if I do 3rd party (I know the dealer does not get the other $1,000). Cap cost in this case will be $30,681 (w/o rebate) and residual is $16,506 so I get $495.20 base payment. If I DO get the $1,000 with my own financing, then I would get $465.27 per month. Both of these would be a little less if I get a discounted rate. A similar left over 04 would be $28,739 if I don't go through MAC. With a MF of 0.00251 and a residual of $15,030 would be $490.67. I don't know what the MAC 04 lease numbers would be, but there is a $2,500 MAC rebate that would apply. IF the residual was the same as the 3rd party and maybe a 0.00350 MF it would be $455.80. Finally, if I purchased the 04 car via MAC for $26,239 (not counting tax) and getting about 6% from MAC it would be $507.27 for 60 months, w/o tax and $542.78 w/sales tax. So I guess I need to get the 04 MAC lease numbers and find out if I get the $1,000 for a NON-MAC lease so I can tune the choices a little more. Dennis |
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Replying to: Car_man (Mar 17, 2005 4:24 am)  . The dealer told me I could get the car for $200 over invoice because I have a GM supllier's discount code. So by looking at Edmunds data, I get the following for a SAAB Arc 9-5 Wagon: MSRP = 37050 Invoice = 34653 thus my price would be aprox. 34853 Can you provide lease numbers based on that? Thanks again
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