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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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No problem, kappajen. You're right, the redesigned Jetta is a little expensive to lease right now. If you were to lease a 2005 Mazda3s through Mazda Credit right now for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00056 and 47%, respectively. Toyota's lease program varies by region, but in most areas its base lease money factor and residual value for a 3 year, 15,000 miles per lease of a 2005 Toyota Corolla should be .00097 and 51% for consumers who qualify for its Tier 1+ credit tier. If you let me know what state you are in, I can confirm whether this program is good in your area. Car_man Host Smart Shopper Forum
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Greetings smd5. Here is the informaiton that you are looking for. If you were to lease a 2005 BMW 525i through BMW Financial Services right now for 36 months with 15,000 miles per year, its base lease money factor and residual value should be .00125 and 60%, respectively. The money factor for an otherwise identical 30 month lease of this car would be the same, but the residual value would increase to 65%. Car_man Host Smart Shopper Forum |
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Hi Janell. The selling prices of leased vehicles are always negotiable. While there usually is some sort of discount from MSRP used to arrive at manufacturers' advertised lease payments, they usually leave a little meat on the bone so to speak. Dealers would be pretty irritated if automakers advertised unbelievably thin deals. Do some comparison shopping with Honda dealers in your area and you should be able to beat the lease payment that Honda is advertising on the Pilot right now. 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 checked these articles out, stop back in this discussion and I will be more than happy to answer any specific questions that you have. In answer to your question about trading your current vehicle in, yes you can do so when leasing. However, it is in your best interest to have the dealer that you are working with cut you a check for your trade rather than to use the proceeds from it as a capitalized cost reduction. Consumers are actually usually able to get more money for their used vehicles by selling them on their own instead of trading them in. Of course, selling vehicles privately is often a hassle. Car_man Host Smart Shopper Forum |
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Here is the information that you are looking for, zhangtao9703. If you were to lease a 2005 Saab 9-3 Linear Sedan 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 .00002 and 57%, respectively. When negotiating your lease on this car, keep in mind that Saab is currently providing $1,500 lease cash and $1,500 bonus cash, $3,000 total, that will help you to negotiate an attractive capitalized cost. I noticed that the deal that you are looking for includes a substantial down payment. 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 9-3 would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. I would be more than happy to work up a zero down lease payment on this car for you if you let me know what its full MSRP and selling prices are. Car_man Host Smart Shopper Forum
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Replying to: Car_man (Apr 18, 2005 3:38 am) I have a leasing agent giving me a quote on it...let me know what you think about his arguments here...I cant tell if he is telling me the truth or is just a good salesman. (QUOTE) Since the information you provided me is accurate, I can certainly confirm that your lease payments on a 3 and 4-year lease would look something like this............ Term 35 47 Payment 615 Super A Teir 540 Cash Dn 1st Months Payment Mileage 12k 12k If you compare these payments to that of a loan spread over 60 months on $33,000 dollars, I think you'll see the savings. Retail Sale Price + t.t.l. $33,000 Term 60 Payment 624 Cash Dn 0 Rate 4.75% as I stated earlier, a lease saves you money by not only shortening the obligation, but by also saving off the monthly payments. The longer the lease program, the more money you save on a monthly payment. On the other hand, the shorter you lease your next vehicle, the more you save on a total expense. I feel strongly that the lease option is the way to go becuase I can safely assume that the difference in the two total costs in regards to the retail purchase and the lease will ultimately be returned to you in flexibility and reduced financial risk. For example, if you paid out the 3-year lease in its entirety, your total expense would be $22,140. Doing the same on the retail purchase produces a total expense of $ 37,440 leaving a difference of 15,300. I feel confident that a paid off 5-year old Expedition will not be worth $15,300. In addition, I also don't feel like your remaining balance on the purchase after 3-years will be less than this amount. If you'd like to drive a vehicle for less money, and you feel you'll have an need to replace this vehicle before the 5-year period of time, the lease option is the least expensive, the most flexible, and the best value on the market today. (END QUOTE) What do you think, is this solid advice or i am getting the rug pulled over my eyes? |
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I'm sorry to hear about your unpleasant experience, Bill. In order to resolve this issue, you need to contact Jaguar Credit directly. It sounds as though you have already done so without any luck. If this is the case, you can always escalate your complaint to a manager at Jaguar Credit. To be honest with you though, most banks do not provide their lessees with a refund for unused miles on their leases, unless they have purchased additional miles above 15,000 on a per-mile basis. Car_man Host Smart Shopper Forum |
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Hi mrhyde. Generally speaking, dealers usually do not lie about how the sales tax is calculated on leased vehicles. Of course, I am sure that there are isolated cases where this happens though. I am not personally familiar with how sales tax is calculated on leased vehicles in Chicago. You may be able to find out additional informaiton on this subject by visiting the following site: Chicago Department of Revenue. Car_man Host Smart Shopper Forum |
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Replying to: Car_man (Apr 19, 2005 3:13 am) I am from NJ. I used the 'calculate your own lease payment' and if I worked this out right, I am now paying $24 too much for a longer term lease (and if I'm right, is there a way to renegotiate a lease?) This is how I did it: MSRP:$34,558 Net Capitalized Cost:$31035.77 1. Residual: $34,558 * .62:$21,425.96 2. Depreciation: $31,035.77-$21,425.96 = $9,609.81 3.Monthly Depreciation Payment:$9,609.81/36 = $266.94 4. Money Factor Payment Portion: ($31035.77 + $21,425.96) * .00106 = $55.61 5. Bottom Line Monthly Lease = $322.55 6. With State Tax (6% included) = $322.55 * 1.06 = $341.90 I'll be paying $365 so if this is right I got taken by a lot.  Thanks for your advice. |
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Hello ibs. The stairstep program that provides dealers with $200 to $750 on Accords and Civics is a national program. Having said this, this is a dealer cash incentive. That means that not only are dealers not obligated to share it with consumers, they don't even have to confirm that it exists. The more Accords and Civics dealers sell, the more money they get back from Honda. The exact amount that each dealer receives through this program will vary, but most dealers will probably receive $300 to $400 per car. Honda's lease program for Accord and Civic coupes are the same as they are for sedan models. Car_man Host Smart Shopper Forum |
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Replying to: Car_man (Apr 19, 2005 2:08 am) |
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