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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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SORRY !! I meant to say, it's an ACURA 3.2 CL ... Thanks !!! |
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Djdez, what model year is the CL that you are interested in? If you are talking about the all new 2001 CL, then yes this is a pretty good lease offer. This car will typically run about $350 per month for three years. As far as your current lease is concerned, why don't you wait another month or so to lease your next vehicle? If you terminate your Acura lease now or just keep it while you drive your new CL you will essentially be paying for a car that you aren't even driving. It's not like there are any special deals on the 2001 CL that you would be missing out on by waiting. I am sorry to say that it is going to be pretty expensive to insure this car in New Jersey. I am currently leasing a 1998 CL and my insurance runs me about $2,000 a year. So the quote that you were given looks to me as though it is right in line with what I would expect someone to pay to insure this car. Car_Man Smart Shoppers / FWI Co-Host |
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Ddelise, no manufacturer is offering negative interest rates on any vehicle that they lease. For lease terms up to 36 months Saab is offering consumers a lease money factor of .00050 on the 2000 9-5 2.3L Sedan right now. This is equivalent to an interest rate of approximately 1.2%. Even though this rate is not negative, it is still incredibly low. I believe that Saab is currently advertising a lease on the 2000 9-5 2.3L Sedan for $429 per month with $999 down over 36 months. You can probably get this car for a little less than that by haggling. Car_Man Smart Shoppers / FWI Co-Host |
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car_man, You seem to know your stuff when it comes to leases. I do pretty well myself in negotiating leases. Unfortunately, I have no experience in what you can negotiate if you turn in a car to a dealership at lease end and want to lease another vehicle. I leased a 98 honda accord EX for 36mo/12,000miles. When I turn it in at the end of the lease it will be approximately 5-6 thousand miles below the 36,000miles. It is excellent condition! I want to lease a honda odessey LX. I hear they are hot and will have a hard time negotiating the MSRP. What can I do??? Also, I am finding a residual of 58% for the 2001 Odessey LX. What do you have?? Any information is greatly appreciated! |
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| I would really appreciate your assistance. I am considering a lease on the new Mercedes C240. I understand that I will end up paying full sticker (arghh!)I also understand that the dealers are touting a 70% residual on this car after 3 years and 15000 miles per year. Do you know what the "official" Mercedes Finance money/lease factor for this car? The first dealer with whom I spoke presented some astronomical rate like .00475 or 11.4%!!!! If I cannot lease thru the dealer, how do I go about finding other decently priced leasing companies? The web does not seem to cover this like it does loan rates. Thanks for your help! | |
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Mntlevy, unfortunately manufacturers do not offer consumers credits for unused lease mileage. You are right though that there is a chance that your Accord will be worth more than its lease-end purchase option if you kept it in great condition with low mileage. The only way for you to make money from this is to purchase your vehicle at lease-end and try to sell it on your own for a profit or to try to see if the dealership that you are working with would be willing to purchase this vehicle from you for more than the purchase option. Neither of these options are guaranteed to make you any money. Chances are that you will just have to walk away from your current leased vehicle without making any money. You are right, the Honda Odyssey is still very popular. As a result, most dealerships are not willing to provide consumers with substantial discounts on them. Unfortunately, the fact that you kept your current leased vehicle in such good condition probably will not change the fact that you are going to have to pay close to full MSRP for an Odyssey if you want one. As far as this van's residual value is concerned, it will vary depending upon the length of the term that you choose and the number of miles per year that you are allowed to drive without penalty. Car_Man Smart Shoppers / FWI Co-Host |
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Hi phoenixmercede. Excellent choice in vehicles. The new C-Class is a great car. Even though you will probably have to pay full MSRP for one at this point, its unbelievable residual values still make leasing one a decent deal. Yes, it's true that the official Mercedes-Benz Credit Corp. lease residual value for a 2001 C240 with 15,000 miles per year is a whopping 70%. Unfortunately, as usual MBCC does not have any sort of lease money factor support on this car. So if you lease one through them you will have to pay their standard factor of .00390 if your credit is in good shape. It sounds to me as though the dealer that you spoke with marked-up the lease rate that they quoted you. If this is the case and they are not willing to provide you with the base rate, then I suggest that you visit a couple of other Mercedes-Benz dealerships. Chances are that one of them would be willing to lease you a 2001 C-Class at full MSRP and not mark up the lease rate. Good Luck. Car_Man Smart Shoppers / FWI Co-Host |
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| I appreciate your quick response. I had seen this rate you mentioned on another forum. That person indicated that you could "buy down" the rate with deposits. He mentioned a low of .0029. Are you familiar with this practice? Is it merely another form of cap cost reduction with unrefundable "deposits"? However, I have spoken with three dealerships. Rates have been as high as .0054 and as "low" as .0044. In neither case do they match MBZ's Finance Corp. rate. I had asked how to research/find alternative lease companies. Given this highway robbery, I may have to use an alternative to the dealers. Can you direct me how to find other leasing companies that are (hopefully) reputable. I will continue to query other dealers, but I have already hit the two in Phoenix and one in Las Vegas. In addition, regarding the rate that you quoted someone above for an Audi. This has been my other choice. However, dealers and an Audi salesperson who haunts an Audi Forum are all saying that .0395 is the current Audi rate thru October 6. Where is reality??!! | |
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Car man, Thanks for the response about negotiating a new lease. I am looking at 36 month 12,000 mile lease on the Honda Odessey LX. Can you help me out with residual and money factor? Another thought, do you know if I would be better off negotiating a Toyota Sienna deal or a Dodge Caravan deal (for leasing that is). Thanks again in advance for your help. |
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You're welcome, phoenixmercede. Yes, I believe Mercedes-Benz Credit Corp., like many other lending institutions, permits its lessees to put down multiple security deposits on leases in exchange for a break in the lease money factor. There are literally hundreds of banks across the country that will probably lease you this vehicle. This sort of transaction is usually done directly through a dealership's finance department because it is so difficult to find out which banks have the best program for a particular vehicle, but I certainly can see why you would want to bypass the F&I department if they are marking-up MBCC's rate for you. Chase and World Omni are two banks that I know are fairly big players in the auto leasing industry. Audi's lease money factors will vary depending upon the exact vehicle that you are interested in so it is difficult to generalize about the factor without knowing the car that you are referring to. However, in the vast majority of instances all of Audi Financial Services' base lease money factors will be lower than .00395. Car_Man Smart Shoppers / FWI Co-Host |
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