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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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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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Hey sharkala. You never mentioned the selling price of the car that you are interested in leasing. This is an 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 the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary 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 its selling price is. I am not sure what you were asking in your second question. Even if Nissan was to make your final payment on your current leased vehicle for you, you still would be liable for any excess wear and tear or excess mileage fees that you are assessed. Furthermore, having the dealer that you are working with make your final lease payment on your current vehicle for you will only hamper your ability to get a good deal on your Xterra. Car_man Host Smart Shopper Forum |
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I am glad to hear that everything worked out for you, drtravel. Congratulations on your new car and thanks for taking the time to come back and let us all know how everything turned out. Car_man Host Smart Shopper Forum |
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Hi macp. As one might suspect, Mercedes-Benz is not currently providing any sort of lease support on the CLS (beautiful car by the way). Having said this, Mercedes-Benz Credit's base standard lease money factor is still less than the .00360 that you were quoted. For consumers who have good credit and pay a security deposit, MBC's base factor for the CLS should be more like .00310 right now. It would not surprise me if the dealer that you are working with is marking-up MBC's base factor for this car a little bit to add additional back-end profit to your deal. This sort of thing happens all the time, especially with European luxury dealers. The residual value that you were quoted is right on the money. Using MBC's base money factor, an MSRP of $71,650, and a selling price of $70,650 I come up with a zero down, pre-tax monthly payment of around $987 for this car. Car_man Host Smart Shopper Forum |
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Replying to: Car_man (Apr 17, 2005 6:39 am) |
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Replying to: Car_man (Apr 17, 2005 5:20 am) Please help. I am looking at two different vehicles for my wife. I am getting some real wacky numbers in the Edmunds lease calculator. First vehicle Acura MDX premium [base] MSRP $36,900. target price $34,100 .00196 MF 56% RESIDUAL 36/12 Texas sales tax $2,131.25 Payment was like $540.00? Second Vehicle Volvo S40t5 leather,auto MSRP $30,340 target price $27,306 .00175 MF 53% Residual Texas sales tax $1,706.25 Don't I take the difference between negotiated price and residual=rent +tax+finance fee[MF] anything else rolled in., and then divide by 36 months? There is something I'm clearly missing here. Thanks, I know your busy and it's a sunday. Dan |
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Hi. I'm trying to find out if I got a good deal on a lease - of course this is after the contract has already been signed.  The lease I received was $365 a month (tax included) for an AWD V6/w 3rd seat with the following packages - FE, HD, EJ, SR, TO, EH, LF, RL, LP, AG, JY, V5, WL and Z1. The MSRP was $34,558 and the selling price was $31,037. This was with $3300 down for a 5yr, 60,000 mile lease. Residual was around $15K. Thanks for your help.
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