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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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Thanks motorista. You can use any equity that you have in your trade as a down payment on your lease, however you would be better off having the dealer that you trade it in to cut you a check for it instead. 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 your Phaeton would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. Given the mileage that you put on your cars, you might be better off financing instead of leasing. Whether you should go with VW Credit's 2.9% rate or take the dealer cash and finance through an independent bank depends upon how low the third party's rate is. Car_man Host Smart Shopper / Prices Paid Forums |
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Hi jhk_db. According to the latest information that I have see, if you were to lease a 2005 Mercedes-Benz SL500 through Mercedes-Benz Credit right now for 36 months with 12,000 miles per year, your buy rate lease money factor and residual value should be .00255 and 57%, respectively. The numbers for an otherwise identical lease of a 2006 SLK350 should be .00325 and 62%, respectively. These rates are for consumers who pay a security deposit, $795 acquisition fee, and have good credit. Car_man Host Smart Shopper / Prices Paid Forums |
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Last December, I wasn't in a position to buy a car and since the lease deal I was able to obtain was better than the loan I could get at the time, I entered into a lease. Now, I've received a few windfalls and would much rather just own the car outright. Unfortunately, the lease payoff number I've been quoted by the leasing company is not only more than the current value of the car, it's higher than the original purchase price when I bought it. Two questions: 1. Is there a formula for determining whether the savings from not paying the monthly interest and depreciation built into the lease payments can mitigate the cost of buying out the lease? 2. Are there any chips I can play with the leasing company to incent them to lower the buyout price? Thanks so much for your help. |
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Hi Carman Can you please provide me with MF's and the residuals for both vehicles? 24 Months 10 & 12K P/Y By the way; Has Porshe started leasing again in NY. Thanks sjl225 |
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I have 2002 Jeep Grand Cherokee, the lease expires in January and I am considering purchasing the vehicle. Due to an issue with forged second lease on this car the dealer was forced to lower my monthly payments to $300.00 per month. I have leased the car for 4 years and 15000 miles per year. In order to accomodate the lower payment the dealer lower the residual value at lease end to $10,600.00. The car currently has 50,000 miles on it, I think it would be best to purchase the vehicle and then if I decide to sell it later I can, probably for more than the 10,600. Let me know what you think and any tips on lease buyouts. Thanks
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Car man - Could you please give me the residual and MF for a 2005 Chrysler T&C Limited and Touring, 15K miles? Thanks! |
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Replying to: black6speed30 (Sep 07, 2005 8:11 pm) Can you please post the current (Sept 05) specifics for a lease on a Tundra in Utah? 36 mos, 15k miles. Are there better deals on the 05 (over the 06?) My first pref is the SR5 DCab 4x4, but could be persuaded to a diff model based on lease attractiveness, as long as its 4x4. Thanks! |
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Hello I have currently been offered - 2005 Accord LX SE Coupe (4 cyl.) for $17,650 with an invoice price of $18,700. The lease comes to $256 p.m. with a down payment of $1500 and the residual value is $10500 (approx). This is for 12000 miles per year. This is my first time leasing and I want to make sure its a good deal. Please feel free to make any suggestions. This is more of an emergency purchase coz my car broke down. Also let me know if you guys know of any good lease deals with similar down payments and monthly rates between $200 & $250 Thanks in advance. |
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Hi Car_man, Will you please post the September MF and residual for a G35 6MT sedan with 15,000 miles/year? Thanks. |
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