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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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Henckels, congratulations on your new Maxima. That definitely sounds like a pretty good deal to me. Unfortunately, many lending institutions charge their lessees lease-end disposition fees. I also find them quite annoying. To the best of my knowledge, I do not believe that Nissan Motor Acceptance Corp. has a disposition charge on their leases. The best way to find out for certain would be to take a close look at your lease contract. If there is a lease-end charges it has to be spelled out in your contract. Car_Man Smart Shoppers / FWI Co-Host
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i'll definitely check the lease out in detail - gotta now find my magnifying glasses in the attic. now i gotta get them snowtires. anybody use the michelin alpine? |
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| Are they negotiable? I have owned two leased autos and I never tried before. I am expecting my new car next month and have heard a few people mention that they have been able to negotiate higher residual rates. | |
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Madlog1, as bretfraz mentioned in his post, there really is not any way to negotiate lease residual values. Banks set these values and the individual dealership that you are getting your vehicle from has no authority to alter them. I doubt that any banks would be willing to provide you with a higher residual value for the vehicle that you are interested in if you contacted them directly. Most banks are already taking substantial hits on many vehicles because they set the residual values too high, I doubt that they would want to increase their exposure to this financial risk. The only way that one can alter the residual value for a lease is to agree to a lower mileage limit. A vehicle that you are allowed to drive 12,000 miles per year without any excess mileage penalty will have a higher residual value than the exact same car or truck would if you leased it with 15,000 miles per year. Car_Man Smart Shoppers / FWI Co-Host |
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Thanks for the info from my last post. I have one other quetion for you. Which banks are offering the highest residual values and money factors for the 225 TT Coupes. I am getting ready to take delivery of mine and would like to have some idea of what numbers my dealer should be coming back with. Thanks in advance. |
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Looking for 36m/15k resid/mf and extra mileage on 2wd Cherokee Limited (smaller version) and 2wd 4Runner SR5. Thanks! |
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| By the way, I'm in the Bay Area (SF). | |
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Madlog1, it is difficult for me to track all of the thousands of banks out there that one could lease a new car through. So, I try to just keep track of what manufacturers' captive finance companies' lease programs are like. In instances where there is lease support on a particular vehicle captive finance companies are usually able to provide the lowest monthly lease payment to consumers. Unfortunately, Audi does not currently have any lease support on the TT. So if you decide to lease one through Audi Financial Services right now you will have to pay their standard lease money factor, which is equivalent to approximately 8.6%. Shop around at a couple of Audi dealerships. By doing so, you should be able to get a good idea of what bank presently has the most competitive lease program on this car. Nice choice by the way. If I was going to get a new car right now, the Audi TT would probably be it. I think that it is gorgeous. My current lease still runs through June though so I still have a little time to change my mind  .Car_Man Smart Shoppers / FWI Co-Host |
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Hi bryancalhoun. I'd be glad to help you out. Unfortunately, DaimlerChrysler cut way back on the lease support that they were providing on the majority of their vehicles a month or two ago. They found that they were fighting a losing battle with the falling residual values of 2000 models (thanks to the end of the model year) and the constantly increasing interest rates (thanks to the Fed). So, if you choose to lease a 2001 Jeep Cherokee through Chrysler Financial right now you will have to pay their standard lease money factor of .00390 for 36 month terms. Of course this rate assumes that your credit is in pretty good shape, if not it will be higher. The 36 month, 15,000 mi/yr CFC residual values for the 2001 Jeep Cherokee are 38% for 2-Door 2WD and 42% for 4-Door 2WD models. The combination of the high money factor and the low residual value do not make this a very attractive lease vehicle right now. Fortunately, the $1,500 Lease Cash that DaimlerChrysler has on the 2001 Cherokee helps to somewhat offset the bad lease terms. I do not know exactly what the lease money factor for the Toyota 4Runner is in the San Francisco area. However, chances are that the SF region is very similar to most others in that there is not any lease money factor support on the 2000 or 2001 Toyota 4Runner right now. If you decide to lease one through Toyota Motor Credit Corp. and there is not any support available on it, you will end up paying their standard lease money factor which I believe is currently .00400. Car_Man Smart Shoppers / FWI Co-Host |
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FYI if you are looking to get a TT there is usually a three month wait if you want one of the less common colors, and all dealers in my area (NJ) are getting MSRP. And, although I once said that I would never pay full price for a car, I find myself doing it with the TT. That just goes to show you how impressed I was with it after the test drive, close up inspection. BTW, I think Hahn is offering the best lease rates now, I just wanted to get some feedback from you before moving on it. Thanks again for your help! |
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