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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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Congratulations on your new car, acechase67. Thanks for taking the time to stop back and let us all know how everything turned out. Car_man Host Smart Shopper Forum |
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Let's work up some lease payments, Dan, and see what we come up with. According to my calculations, if you were to lease a 2005 Acura MDX with an MSRP of $36,900, a selling price of $34,100, a money factor of .00196, and a residual value of 56% right now for 36 months, your zero down, pre-tax monthly payment should be around $481. According to my calculations, if you were to lease a 2005 Volvo S40 T5 with an MSRP of $30,340, a selling price of $27,306, a money factor of .00175, and a residual value of 53% right now for 36 months, your zero down, pre-tax monthly payment should be around $388. Car_man Host Smart Shopper Forum
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Hi suvgal. As you already seem to be aware, you are better off researching the vehicle that you want before leasing it rather than after, but what's done is done. Let's take a look at your deal. Two things jump out at me right off the bat. The first is the long term. Five years is way too long to lease vehicles for. I say this for several reasons. One is that Toyota's special lease program on the Highlander is only available for leases up to 36 months in length. By leasing this truck for more than 36 months, the money factor that is being used to calculate the interest portion of your lease more than doubled. Furthermore, a lot can happen during the course of five years. If you end up moving or changing jobs, you could end up putting way more miles on your truck that you are allowed to. This would cause you to have to pay a huge excess mileage penalty at lease-end. Another problem that I have with this deal is the huge down payment that you made. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for this Highlander would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. Anyhow, what's done is done. There's no reason to be upset about this deal now. Enjoy your new Highlander and make sure to do more research beforehand next time. Car_man Host Smart Shopper Forum
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Hey alphawolf. As you may already be aware, Toyota does not sell vehicles directly to consumers in the Southeastern United States. Instead its vehicles are sold to a distributor, SE Toyota, who then in turn sells them to consumers in that area. Unfortunately, the SE Toyota distributor has its own bank, SE Toyota Finance, and does not run leases through Toyota Financial Services. I have not seen SE Toyota Finance's April lease program for the model that you are interested in. Sorry that I could not be of more help. Car_man Host Smart Shopper Forum |
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Unfortunately, no, steevo. Nissan's April lease program for the 2005 Maxima SE is much more attractive than its program for the Maxima SL. Car_man Host Smart Shopper Forum |
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Greetings pluvious. I would be more than happy to try to give you an idea of what sort of lease payment you can expect to pay on the car that you are interested in. However, before I can do so I need some additional informaiton from you first, including this car's full MSRP, an approximate selling price, and how long you want to lease it for. Let me know and I will work up a sample payment for you. Talk to you soon. Car_man Host Smart Shopper Forum
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Hello 4x4. Ford's lease program on the Expedition is not very attractive right now. If I was in the market for one, I personally would take advantage of the large cash incentives that are available on it this month and finance it through an independent bank or finance it through Ford Credit at 0% for 5 years rather than lease it. Car_man Host Smart Shopper Forum
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No problem, tcmotorcity. I'm glad that I was able to help you out. Car_man Host Smart Shopper Forum |
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Replying to: Car_man (Apr 18, 2005 3:35 am) Can you please refer to post 19156 about my question on the expedition? Thanks! |
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Here you go, skinnydog. According to the latest information that I have seen, if you were to lease a 2005 Subaru Legacy GT Limited Sedan through its captive finance company right now for 36 months with 15,000 miles per year, its base lease money factor and residual value should be .00125 and 49%, respectively. Car_man Host Smart Shopper Forum |
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