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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
Thanks for the info Car_Man! I greatly appreciate it. I was able to get a 2004 Matrix XR well equipped, 36 month 15K lease with TFS for $700  Inception & 250 month including tax!!! Once again, your assistance helped me save quite a few $$$$....Kudos to you Car_Man.....
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You're very welcome, euzar. I am glad that I was able to help you out. Thanks for taking the time to come back and let us all know how everything turned out. Enjoy your new car  . Car_man Host Smart Shoppers / FWI Message Boards |
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Hello rbr. Here is the information that you are looking for. If you end up going with the '04 Accord, you're in luck because Honda just introduced a supported lease program on it this month for I believe the first time since its redesign. Unfortunately, this new supported lease money factor is not equivalent to the 1.9% special financing rate that you mentioned, but it is still not bad at around 3.6%, especially when combined with this model's relatively strong residual values. If you were to lease a 2004 Accord EX-L with navigation through American Honda Finance Corp. this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00150 and 56%, respectively. Conversely, there is not currently any sort of lease support available on the even more recently redesigned Acura TL. If you were to lease an '04 TL with navigation through AHFC this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00210 and 57%, respectively. Last but not least we have the Lexus ES 330. If you were to lease one, equipped with navigation of course, through Lexus Financial Services in your area this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00200 and 55%, respectively. Car_man Host Smart Shoppers / FWI Message Boards |
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Greetings Chris. Here you go. If you were to lease a 2004 Acura MDX Touring with navigation through American Honda Finance Corp. this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00210 and 59%, respectively. If you were to lease a 2004 Lexus RX 330 4WD Premium with navigation through Lexus Financial Services this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00200 (unless you live on the west coast) and 56%, respectively. Car_man Host Smart Shoppers / FWI Message Boards |
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No problem, newtisme. Let's do some calculations and see what we come up with. According to my calculations, if you were to lease a 2004 Infiniti FX45 with an MSRP of $53,980 and a capitalized cost of $49,100 + $2,500 = $51,600 through Infiniti Financial Services this month for 3 years with 15,000 miles per year, your zero down, pre-tax monthly lease payment should be right around $799. I calculated this payment based upon nothing down because it is in your best interest as a consumer not to make a down payment when leasing. This is because if your vehicle is totaled in an accident or stolen and not recovered during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. Also, down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So regardless of whether you were to put $0 down or $2,500 down on this model, your lease-end purchase price would be exactly the same. If you still want to put, $2,500 down, it would lower the monthly lease payment on this model to around $725. Keep in mind that these lease payments do not include tax because the methods for calculating tax on leases vary from state to state and are also based upon 15,000 miles per year instead of 18,000. Car_man Host Smart Shoppers / FWI Message Boards |
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Hi nbty. I believe that Nissan just introduced its lease program on the 2004 Pathfinder on Friday. I haven't had a chance to take a look at it yet, but should be able to within the next day or two. Please post a quick reminder for me in this discussion then and I will let you know what I have been able to find out. Talk to you soon. Car_man Host Smart Shoppers / FWI Message Boards |
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Hi brucee. If I was in your situation I personally would probably be leaning towards purchasing my leased MDX rather than a used Explorer. One reason why I would do this is that are Honda products traditionally much more reliable than Ford products. Plus I would feel more comfortable knowing the entire history of my MDX, assuming that it is a good history, rather than purchasing a used vehicle that may or may not have had problems in the past or have been properly maintained. Having said all of this, you need to compare your lease-end purchase price for your vehicle to what one could realistically expect to pay for one on the open market. Check your lease contract to see exactly what your purchase option price is. You may also want to place a telephone call to American Honda Finance Corp., or whichever bank you are leasing this vehicle through, to confirm this number and see if they would be willing to negotiate this number with you. There certainly is no guarantee that they will be willing to lower it, but you have nothing to lose by asking. If you do not have any luck getting your first contact to lower the price, you may have more success if you work your way up the ladder a few rungs. Once you know this vehicle's exact purchase price, look up its True Market Value here at edmunds.com by visiting the Edmunds.com Used Car Appraiser. You also may want to stop by the Real-World Trade-In Values discussion that appears over on the Smart Shoppers Message Board and ask Terry, one of our most knowledgeable community members, what he believes your SUV is worth at this point. Car_man Host Smart Shoppers / FWI Message Boards |
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Welcome back, earcom. Let's take a look at the vehicles that you are considering for your new ride. If you were to lease a 2004 Honda Accord Sedan or Coupe (the programs are the same for both) EX without navigation through American Honda Finance Corp. this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00150 and 58%, respectively. Honda is supporting 3 year leases of this car and that is what I would choose if I was in the market for one, but just for the sake of comparison, the numbers for an otherwise identical 4 year lease should be .00200 and 50%. The numbers for an otherwise identical 3 year lease of a 2004 Accord LX would be exactly the same, but the residual value for a 4 year lease of one would be 49%. If you were to lease a 2004 Honda Civic Sedan LX through AHFC this month for 3 years with 15,000 miles per, its base lease money factor and residual value should be .00215 and 54%. The numbers for an otherwise identical 4 year lease of this model should be .00200 and 47%. Car_man Host Smart Shoppers / FWI Message Boards |
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Many, many thanks. Looks like you've been busy this morning! Your willingness to make this information available is absolutely invaluable. If I may push my luck for one more: 2004 Saab 9-5 Arc Sedan, 36 months, 15,000/year ( I currently lease a 2001 9-5 SE, and Saab's lease rates are usually pretty competitive). Again, many thanks for all your efforts. |
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car_man, thank you for the detailed response. I should have made myself clearer--the dilemna i face is should i buy out the lease on the 3 year old acura mdx, or buy a NEW explorer for roughly the same price. looking 3 to 5 years down the road, which car will have more value? thanks again, brucee |
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