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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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Replying to: Car_man (Apr 04, 2005 3:25 am) Life has been an adventure since this last post. I learned that in the last year the law changed in TX and now leases are the norm not balloons (no worries about personal property tax to register); however, it's county based. On the Maxima I got I had to certify I live in Harris county. I kept up with posts on MF's and residuals from others and your answers. At the Toyota dealer, we had driven the car we wanted but when I showed up to do the deal, the car had been sold and they didn't have the courtesy to tell me (that dealer was off the list). The next Toyota dealer responded to an internet question on price with a MSRP that was $5k more than THEIR listing then said he had made a mistake (that dealer was off the list). I looked at Accord, Subaru turbo 4 Outback, G35, Altima SE-R, M6, M3, TSX, TL, and Maxima. It came down to TL vs Maxima; Maxima had more torque and features for similar MRSP. I found Acura dealers arrogant and inflexible; guess they are selling alot of TL's. They actually tried telling me they needed $2,800 down to get the offered monthly payment; when I inquired as to what the $2,800 was comprised of they told me it was the capitalized cost reduction stating they would never sell the car for the offered $31,000 against list of $33,600. I walked right out!. I told the Maxima dealer my terms and was done with the deal in less than 30 minutes. When I returned to sign, they had all the paperwork ready. Efficient, courteous, etc. I found the Nissan website the best of all studied for searching dealer's inventory. The MF quoted here at the time was 0.00162 with a residual of 56% for the SE for 3/36; I got 0.00143 with 54%. MSRP was $33,150 and I offered $30,700. They showed me their paperwork listing that value as invoice and said they would make their money on hold back and fees. With TTL etc the monthly cost with zero down is $454 including gap insurance. I appreciate the help. |
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Hey kirk123. Saab's special lease program on the 9-3 Linear Convertible is pretty decent right now. So is Audi's lease program on the A4 1.8T Cabriolet. If you were to lease a 2005 Saab 9-3 Linear Convertible through Saab Financial Services Corp. right now for 2 years with 12,000 miles per, its base lease money factor and residual value should be .00040 and 63%, respectively. When negotiating your lease on this car, keep in mind that Saab is currently providing $2,000 bonus cash on it. This money will help you to negotiate an attractive capitalized cost. If you were to lease a 2005 Audi A4 1.8T Cabriolet through Audi Financial Services right now for 2 years with 10,000 miles per, its base lease money factor and residual value should be .00175 and 73%, respectively. When negotiating your lease on this car, keep in mind that Saab is currently providing $500 lease cash on it. This money will help you to negotiate an attractive capitalized cost. Car_man Host Smart Shopper Forum |
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Hey John. The numbers that you posted for this vehicle's lease program are indeed correct. Nissan is providing $500 consumer cash on this car right now, but this incentive is not compatible with NMAC's lease program. Car_man Host Smart Shopper Forum |
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I am sorry to hear that you are going to be assessed charges for excess wear and tear on your leased Passat, johnsowj. Whether you should purchase your car at lease-end and either trade it in or sell it on your own to try to avoid the excess wear and tear charges or just turn it in, depends upon the difference between its current market value and what you can get for it. In order to determine whether you should purchase your vehicle at the end of your lease, you need to compare its purchase price to its value on the open market at this time. Even though it states your car or truck's purchase option price on your lease contract, you should place a call to the bank that you are leasing it through just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking. As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". One of our most knowledgeable community members, Terry, frequents that discussion and he is often kind enough to give community members who give him an accurate description of their vehicles with his opinion on their value. Car_man Host Smart Shopper Forum |
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Hi cosmog91. The best way for you to get an attractive deal on this car is to negotiate as attractive a selling price as possible for it and to make sure that your lease payment is being calculated using Infiniti Financial Services' base lease program. The highest mileage allowance that IFS offers consumers is 15,000 miles per year. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the end of your lease and have to pay a penalty for excess mileage. I am not sure exactly what IFS charges per additional mile, so for now I will calculate a sample lease payment on this car for you based upon 15,000 miles per year. According to my calculations, if you were to lease a 2006 Infiniti M35 Sedan 2WD with an MSRP of $47,460 and a selling price of $46,000 through IFS right now for 3 years with 15,000 miles per, its zero down, pre-tax monthly payment should be around $616. Car_man Host Smart Shopper Forum |
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Let's take a look at the deal that you were quoted for this car, snaj. I just double checked the lease payment that you were quoted and it is right on the money, using the numbers that you provided. The only problem that I have with this deal is the selling price that you were quoted for this car. It has a full MSRP of $41,940 and you are paying $41,825 for it. This is only a discount of around $100. You should be able to do better than that if you shop around some. Car_man Host Smart Shopper Forum |
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Greetings counselor. The vicarious liability laws that exist in New York have a negative impact upon you as a consumer because many banks have completely ceased leasing vehicles to consumers there and the ones that still do lease vehicles to New York residents charge a higher acquisition fee there. For example, Mercedes-Benz Credit's normal lease acquisition fee is $795, but this charge is now $1,800 for New York residents. You are smart to negotiate the selling price of the truck that you are interested in prior to getting any quotes for lease payments on it. The only other aspect of this deal that you have to keep an eye on is the lease money factor that is being used to calculate its lease payment. Dealers often have the authority to "mark-up" bank's base lease money factors to add additional back-end profit to deals. You do not necessarily have to hide the fact that you have a trade when negotiating your lease. Just insist upon keeping the two transactions, your lease and your trade, completely separate. It is in your best interest as a consumer not to use the proceeds from your trade as a down payment on your lease anyhow. Consumers who make large down payments on leased vehicles risk losing them if their vehicle is totaled in an accident or stolen and never recovered. If you really want to trade your current vehicle in, have the dealer cut you a check for it. Car_man Host Smart Shopper Forum |
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Hi kmill. While Toyota is providing lease support on the 2005 Sienna CE and LE in many parts of the country right now. In most areas is is not providing any sort of lease support on the Sienna XLE. As a result, if you were to lease that sort of Sienna through Toyota Financial Services right now, you would have to use its standard lease program. The last time that I saw it, TFS base standard lease money factor was .00225 for consumers who qualify for its "Tier 1" credit tier. If you want to have your vehicle's security deposit waived or your credit is not good enough to qualify for Tier 1 rates, the money factor that will be used to calculate your vehicle's lease payment will be higher than that. I would be happy to try to calculate a sample lease payment on the can that you are considering for you. However, in order for me to do so I need you to tell me what state you are in, the full MSRP of this van, and how much you expect to pay for it (its selling price). Car_man Host Smart Shopper Forum |
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You're very welcome, brandi20. Thank you for offering to stop back and let us all know how everything turns out. Car_man Host Smart Shopper Forum |
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Hello unixman. Even though balloon notes have become a little more popular lately, they are nowhere near as popular as leases. As a result, I do not personally keep tabs on manufacturers' balloon note programs. Sorry that I could not be of more help. Car_man Host Smart Shopper Forum |
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