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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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Replying to: ar831 (Mar 29, 2005 12:50 pm) He (of course) wants to seal the deal by the end of the month (don't they all). In this case, the current Honda lease deal expires then - it might be LESS next month, might be the same, might be HIGHER - I have no idea. Honda could discontinue the current dealer money and the price could go up next month too - or they could increase it and the price goes down. Anyway, send me an e-mail to y2k_c5 (insert at sign here) yahoo.com and I will forward this guy's cell and e-mail info to you if you want to try to pursue it. The EX lease deals calls for a pre-negotiated price of $21,817.82 - about $600 over what is supposed to be invoice. With a $1499 cap cost redcution the payments are $249/36. Getting the car under invoice (say $20,500) would mean you can put down $181 or so rather than $1499 - which is a heck of a better deal. You could still put down $1499 (I would not) and get the payments a lot lower. You could also go to carsdirect.com and put in your zip code (I used 10001) and the quote for the I4 EX w/auto is $20,513 from them. It may end up being from the same dealer, or another in the NYC area. Dennis
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Replying to: brass1 (Mar 29, 2005 3:06 pm) I pulled the trigger this weekend and got a 2005 Nissan Altima 2.5S. It came with the Convenience Plus package, ABS, Side-impact and side curtain airbags, etc. The MSRP was $24,010. I ended up getting a 24 month, 15,000 mile lease for $279/month after tax. I put no money down. My out-of-pocket expense was $470 for the doc. fee and first month's payment. Didn't realize I was getting 15,000 miles each month until I was signing the papers. I didn't bother arguing. Maybe I should've and would've gotten a cheaper deal. Based on the residual of 69% and MF of .00060, if I got the car at invoice I was going to pay $276/month after tax so I felt my payment was good. Think I got a good deal? |
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Replying to: kyfdx (Mar 29, 2005 2:19 pm) 3) The MSD program is certainly interesting and will make good use of my $2750. 8-9% tax free return is great ! Thanks for informing about it. I hope the dealer cannot say NO to the MSD program. I agree that reducing cap cost is not worth it (given the risk). NEW QUESTION: When I thought, all my questions were answered - I seemed to have found a new one! Here it is: - The MF (.0018) and residual (63%) are for the month of March. For my ED pickup of May 3rd, I need to sign the lease sometime in April. Does it mean I have to somehow "lock" these numbers? Or I have to actually sign lease docs to lock the rate? Or April numbers should be same anyway? Or do we already know April numbers? (I guess not). How does it all work and what would you recommend? Somewhere it was mentioned that I could choose March or May rates. Is that correct? Do we know future numbers? Thanks as always.
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Hi kkj. If you were to lease a 2005 Honda Odyssey EX-L with the rear entertainment system and navigation through American Honda FInance Corp. right now for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00225 and 53%. These numbers assume that you qualify for its top credit tier and that you pay a security deposit. Using the above numbers, an MSRP of $35,695, and a selling price of $34,240, I estimate that this van should have a zero down, pre-tax monthly payment of around $546. Car_man Host Smart Shopper Forum
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Hello saintebeuve. It doesn't sound as though you will be hit with any lease-end charges for excess wear and tear or excess mileage when you turn your current vehicle in. Of course, the exact guidelines as to what is considered to be excess wear and tear vary from bank to bank. It sounds as though your lease may be through Toyota Financial Services. The following Web page describes its lease-end process: Toyota Financial Services - Returning your vehicle at lease-end. Car_man Host Smart Shopper Forum |
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Hey Damon. Here is the information on the vehicle that your friend is interested in. If he or she was to lease a 2005 Volvo XC90 2.5T FWD through Volvo Finance right now for 36 months with 12,000 miles per, its base lease money factor and residual value should be .00199 and 59%, respectively. The numbers for an otherwise identical 39 month lease should be .00224 and 56%. The numbers for an otherwise identical 42 month lease should be .00224 and 54%. Lastly, the numbers for an otherwise identical 48 month lease should be .00224 and 50%. Thanks for offering to stop back and let us all know how your Malibu Maxx deal turns out. Car_man Host Smart Shopper Forum
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Hi kicker5454. If you were to lease a 2005 Volvo V50 T5 2WD through Volvo Finance right now for 36 months with 12,000 miles per year, its base lease money factor and residual value should be .00185 and 56%, respectively. This is a decent lease program, but nothing to get that excited about. This car's residual value is OK and its money factor is equivalent to an interest rate of around 4.44%. 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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Sjeed, the deal that you were quoted looks good to me. If you like the car, I don't see any reason not to pull the trigger on this deal. Car_man Host Smart Shopper Forum |
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Here you go shaker58. If you were to lease a base 2005 Acura MDX through AHFC right now for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00196 and 64%, respectively. Car_man Host Smart Shopper Forum |
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Hello blue58. Let's calculate a sample lease payment on this car and see what we come up with. According to my calculations, if you were to lease a 2005 Saturn ION 1 Sedan with an MSRP of $14,255 and a capitalized cost of $14,919 through General Motors Acceptance Corp. right now for 39 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $140. I arrived at this payment using a lease rate of 0.9% and an unbelievably inflated residual value of 69% to arrive at this payment. I do not believe that Saturn's special lease program does not vary by credit tier, but GMAC would have to run a credit check on you to make sure that you qualify for its lease program. The only area that you could negotiate on this lease is the selling price of this car. Even though traditionally Saturns are no haggle, many Saturn dealers are now willing to negotiate the selling prices of their vehicles. Having said this, there isn't much of a profit margin in the ION 1 Sedan so you probably won't be able to negotiate much of a discount on it, if any. Car_man Host Smart Shopper Forum |
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