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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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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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Acechase67, typically consumers who are way under their allowed mileage on leased vehicles do not receive any sort of credit for their unused mileage when they turn their vehicle in at lease-end. The only way that you can benefit from having so few miles on your car is to purchase it from the bank that you are leasing through and have the dealer that you are working with give you more than you paid for it as a trade. Dealers can usually facilitate this sort of transaction if they feel as though your trade is worth it. Honda is running a dealer cash program on the Accord right now. As a result, you should not have much trouble getting one at right around invoice. According to my calculations, if you were to lease a 2005 Honda Accord EX-L without navigation with an MSRP of $25,115 and a selling price of $22,651 through American Honda Finance Corp. right now for 3 years with 12,000 miles per, your zero down, pre-tax monthly payment should be around $294. With this deal, at lease signing you would have to pay your car's first month's payment, a security deposit of $300, AHFC's acquisition fee of $595 (in most states), and any required state taxes or fees. Car_man Host Smart Shopper Forum
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Greetings topcook. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. Once you have read these articles and understand the basics of how leasing works, stop back and I will be more than happy to answer any specific questions that you have. Car_man Host Smart Shopper Forum |
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Here you go, spektre. If you were to lease a 2005 Toyota Corolla LE through Toyota Financial Services in its Boston region right now for 2 years with 15,000 miles per, its base lease money factor and residual value should be .00097 and 57%, respectively. The numbers for an otherwise identical 3 year lease of this car should be .00097 and 51%. Car_man Host Smart Shopper Forum |
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Hey Gregg. Here is the information that you are looking for. If you were to lease a 2005 Honda Pilot EX-L with the rear entertainment system 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 .00154 and 58%, respectively. Its residual value for a 12,000 miles per year lease would be 2% higher. Car_man Host Smart Shopper Forum |
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