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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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Here is the information that you are looking for cmks02. According to the latest information that I have seen, if you were to lease a 2006 Freestyle Limited, FWD, w/o Nav through Ford Credit right now for 24 months with 12,000 miles per year, its base lease rate and residual value should be 2.0% and 65%, respectively. The numbers for an otherwise identical 36 month lease should be 3.0% and 54%. The numbers for an otherwise identical 36 month lease should be 5.0% and 47%, respectively. If you were to lease a 2006 Explorer Limited 2WD through Ford Credit right now for 24 months with 12,000 miles per year, its base lease rate and residual value should be 2.75% and 59%, respectively. The numbers for an otherwise identical 36 month lease should be 4.0% and 50%. The numbers for an otherwise identical 36 month lease should be 5.25% and 40%, respectively. When negotiating your leases on these trucks, make sure to take the $2,000 lease cash that is available on the '06 Explorer and $500 on the '06 Freestyle into account. Car_man Host Smart Shopper / Prices Paid Forums |
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Hi dpav. Different states use different methods for calculating sales tax on leased vehicles. There are three main methods of doing so (I suppose that you could say that there are four if you count the states that don't charge sales tax at all). In the first, the state taxes the payment and down payment. Most states, including Florida, Georgia, Missouri, Connecticut, and California use this method. The second way is to tax the entire selling price of the vehicle. This is how sales tax is calculated on leases in states like Illinois, Texas, and now Ohio. Lastly, some states only tax the depreciation portion of leases. This is tax is calculated on leased vehicles in New Jersey. Car_man Host Smart Shopper / Prices Paid Forums
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Hi Ning. I believe that I already answered this question for you over in the specific Honda Accord Lease Questions discussion that appears on the Prices Paid Board. Please check there for my response. Car_man Host Smart Shopper / Prices Paid Forums
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Hello glk1. Let me begin by saying that $4,700 is way too much money to put down when leasing. 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 Infiniti would be exactly the same, regardless of whether you had put $4,700 down, or had made absolutely no down payment at all. If you really want to trade in your QX4, have the dealer that you are working with cut you a check for it rather than using the proceeds as a capitalized cost reduction for your lease. You should be able to negotiate the same price on the G35 AWD Sedan that you are interested in as if you had paid cash or financed it. You need to do some more negotiating if you feel as though you should be able to get this car at invoice. Dealers do not have the authority to alter banks' published residual values to add additional profit to deals. The only advantage that this dealer derives from making this a 10,000 miles per year lease instead of 12,000 or 15,000 is that the monthly payment is lower. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month, 10,000 miles per year lease of a 2005 G35 AWD Sedan should be .00094 and 59%, respectively. This car's money factor would be higher if you were having your security deposit or IFS acquisition fee waived. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Sep 19, 2005 1:45 am) I live in Texas. Given that I have to pay tax on entire selling price of vehicle, what do you recommend? 1) Roll into cap cost 2) Pay entire tax up-front at inception With 1), wouldn't you be paying interest on the tax!!!!??? Thanks, Sean |
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Replying to: skoontz (Sep 19, 2005 5:46 am) If I rent a car from Hertz for a couple days, I don't pay sales tax based on the price of the car. If you rent (i.e. lease) a car for three years, I don't think you should pay sales tax either. Of course, I know nothing about leasing, so maybe that is why it seems strange to me.
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Replying to: bobst (Sep 19, 2005 6:00 am) This is why I am asking for advice from the forum. How have others in Texas dealt with this aspect of their lease? Thanks, Sean |
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Replying to: Car_man (Sep 18, 2005 5:54 am) I went to the only VW dealership in our town this weekend. The finance manager told me the residual for 36mo/36k was 59%, and tier A money factor was 0.00065, the same numbers you posted. But he said tier A is for customers with credit scores of 740+, or with five "lines of loan history" (I cannot remember the exact term he used). Because my credit score was in the 690's (which is in the right ballpark because I had around 690 earlier this year), and I had never applied for any loan before, I was quoted with a 0.00167 money factor. My wife and I consider this an ok rate for a first time loan applicant? Do you think this is a good rate? And is this criterion, or similar ones, for top tier credit common among banks? Thank you. Ning |
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Hi Car_man, I am looking to lease a 2006 Saab 9-3, MSRP 30270, Selling price 27454 (GMS employee price), 24 months, 12k mi per year. Can you calculate the money factor and monthly payment for both 24 months and 36 months? Saab has a national advertised rate of 299/month plus 2999 down, but It isn't clear to me how much of that is acquisition cost and fees versus cap cost reduction. I also want to avoid paying money up front as you suggest. Thanks for the help! |
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Replying to: Car_man (Sep 19, 2005 1:47 am) Ning |
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