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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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Car Man, Will the MDX lease program change in April, since their current $399 lease special runs through May 2? I am from NJ, I just wanted to clarify: the 12K/yr per year 36 month residual is 64%, but drops to 62% for 15K/yr. The .00196 money factor stays the same. Even though it probably is out of our price range, What is the money factor and residual on the 4WD Infinti QX56? As always, thanks for all your help. |
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Replying to: dwynne (Mar 29, 2005 3:55 pm) I went to a Honda dealer near me and i wanted to see what they can offer. The problem is my creidt is in tier 3. Not very good, even with a co-signer that has great credit. He said he can do the deal for me for $4500 down, which includes tax title cap cost reduction and extra money to lower the payments and bring me to a tier 1 credit rather then tier 3. I would pay $266 a month with $18 going towards and specific insurance for if the car gets stolen it covers my down payment as well. With normal insurance it only covers the cost of the car not the down payment. What do you think about this deal? Thanks!
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Replying to: dwynne (Mar 30, 2005 7:22 am) I have an upside down trade-in. $4600 would be in addition to cap cost...trade-in value was $6000 (a bit lower than KBB or Edmunds) and I still owe $10,600 on it. So, maybe not a "major" league rip off, but still thought figs were high using a few online calculators. What do you think? -Morgan
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Replying to: love330conv (Mar 30, 2005 12:05 am) That is the only way to lock in the lease rates for March... Since you ordered, he may have already done so... Also, if you are signing your lease 14 days before pickup, you probably won't be able to use May's lease numbers... You will have to use March (which are very good) or April's numbers (who knows?). Call your salesman back, and make sure your numbers are locked... If you can't get the acq.fee lowered...well..it is only $200.. Getting the base money factor was much more important.... regards, kyfdx |
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Replying to: forks2 (Mar 30, 2005 8:19 am) >>Sell Price: $29,750 >>Lease specs: 48 mnth/ 15k miles >>Trade-in: -$4,600 (Hyundai Elantra GT) >>Down payment: $2000 >>Mnthly payment: $460 + tax I missed the - in front of the trade, or thought it was a typo. With no trade and no cap cost reduction we were at $370.03, so if we add $4,600 to the cap cost we get $474.55 per month + tax. That is a lot closer to what you have from them. I am still not clear on what the $2,000 is - you call it "down payment". If you mean as a cap cost reduction then you would be at $429.30 per month. If you meant "out of pocket at signing" - and includes the acq fee, security deposit, and first month's rent, tags, and taxes then the payment the dealer gave you sounds OK. Hyundai makes some really nice stuff now and the warranty (and some of the dealers) are first-rate. The residual values of their cars does not reflect this, however. Resale and lease numbers on them just are not great. Dennis |
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Replying to: ar831 (Mar 30, 2005 7:55 am) If you have the $4,500 you could stick it in the bank and withdraw $125 each month ($4,500/36) to help pay the note. Then you could do the deal (in theory) with $0 down and payments of $373 ($248 w/o insurance + $125 from the bank) per month. No need for the insurance since you don't have any up front money in it. Sounds like the dealer was trying to make the payment work out for you the same as the advertised lease. If you have that much money to put down, then save it and go with the higher payment. Have them run the numbers that way and see how it works out. See if your insurance company covers GAP for free - if so then there is no need for the extra $18 per month if you can get a deal with little down. The promo deals all call for "tier 1" credit and they never advertise (and in some cases do not offer) any alternative - so hard to know what is a "Fair" deal or not. In any case get the purchase price, any fees (doc, acq, etc), money factor, and residual before you sign anything and run them through a lease calc to be sure they add up. Way too easy to get ripped off with hidden charges if you do not. Dennis
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Can you please help with a monthly payment estimation for 2005 Tacoma? If the selling price is $25,800 before t/l, what would a lease payment be on a 48 month lease at 15k miles per year? Trade in value of $2364 (2003 Ranger Edge EXT cab 4dr 3.0 and still owe $7400 on it) with an additional $1000 cash down. I am going in to a dealer today and would like a heads up. Thanks! By the way..my credit is over 740 |
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Replying to: Car_man (Mar 30, 2005 4:34 am) Unfortunately my deal did not yet go through, but I have spent my time finding better overall indicators to assess whether a deal is good beyond the MF, and the term, etc. So I came up with these 2: Indicator 1: Deal Cost / Depreciation point -- For this one you add the sum of monthly amounts + inception fees and you divide it by the depreciation points incurred during the life of the lease -- It is good only for comparing different lease terms on the same car. Indicator 2: Prorated deal cost / month -- For this one you add the sum of monthly amounts + inception fees and you divide it by the term of your lease -- This one is good to compare any lease to any lease independent of the term period as long as you have comparable cars per your goals. So my question to you: Do you know of any indicators beyond the ones I listed above that allow you to do an overall deal assessment? Thanks again. |
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I see they have some great money back for the sedan. What are the money factor and residuals for the remaining 2005 sedans. Thanks.
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