- #43 of 546
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Re: Money factors and deals 9-3 Aero Convertible [jeffepstein]
by Car_man HOST
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Nov 15, 2005 (4:30 am)
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Replying to: jeffepstein (Nov 03, 2005 1:07 pm)
Hey jeffepstein. It's possible that only a certain percentage of the lease money factor mark-up that the dealer wants to make on your deal goes into their pocket. Many banks take a cut of any money factor mark-up. If this is the case, why doesn't the dealer just increase the selling price of your car by 40% of the $1,400, or a little over $500. They still make out the same, but you save almost a thousand dollars over the life of your lease. Better yet, tell this dealer that you'll just lease your car from a different Saab dealer that won't mark up the money factor on you. Saab dealers are dying right now. Sales have been terrible. I highly doubt that a dealer would let you walk from a deal just because they refuse to let you lease with the base money factor. Saab prices definitely are not fixed. There is a spread of over $2,000 between this car's full MSRP and dealer invoice price. Furthermore, Saab is currently providing $500 bonus cash on all 9-3s. I think that you need to tell this dealer that you are not being given a good enough deal and will lease from another Saab dealer if they don't work with you.
Car_man
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- #44 of 546
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Re: Saab Combi Lease Specifics [Car_man]
by steamboat72
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Nov 15, 2005 (10:02 am)
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Replying to: Car_man (Nov 15, 2005 4:23 am)
Thanks CarMan. I appreciate the tips!
What are the aspects of the lease agreement that are most negotiable? I read Jack's post about Combi lease and yes it was only 24 months, but his $327 monthly is much more manageable than the $433 I was quoted, with less money down. I do understand that the terms were different, but its still not seeming right to me.
Why was I quoted money factor .00204 and you quoted .00164 from Saab financial Services?
I am not a strong negotiator but I have a strong personality  . I really like this car, want to put my family in it but need the lease scenario to work for me, not the other way around. All advice is honored and valued ! Best, Steve
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- #45 of 546
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Re: Saab Combi Lease Specifics [steamboat72]
by saablcp
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Nov 15, 2005 (11:09 am)
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Replying to: steamboat72 (Nov 15, 2005 10:02 am)
The money factor difference,.00204 vs..00164 is the.00040 basis pt. mark up I spoke of in an earlier post...you need to point it out to the dealer and remind him he just left a door open for any other dealer to walk through and offer you a better payment without affecting his profit margin on the actual vehicle.That being said the previous poster who spoke of a $2K.spread M.S.R.P/Invoice needs to do some homework.Totally loaded with all options including Nav.you are under $2K.margin,incl.N.E.Region advt.charges to dealer. By the way...still waiting for the specifics from Mr."Under $500 per month/no money down" '06 Aero Conv.Man!!!!!!!
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- #46 of 546
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Re: 2006 Lease price realisticly [saablcp]
by dreamrocks
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Nov 15, 2005 (3:41 pm)
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Replying to: saablcp (Nov 01, 2005 11:33 am)
" There are NO,I repeat NO ! ,$40,000+ European convertibles that will lease for that price with no money down ." I would say yes. Check bmw z4 thread.
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- #48 of 546
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9-3 Combi Lease
by jwmullen
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Nov 15, 2005 (4:34 pm)
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Car_Man,
Here is some additional information as it relates to
the down payment ($2,480):
*1st month payment - $326.24
*Acq fee - $695
*Cash down - $1,030
*Doc fee - $198
*Title prep - $5
*Tags/registration - $226
What do you think of this transaction? I have it priced as a 24 month lease, but could just as easily go with a 36. Any advantages/disadvantages?
Is this a good deal for a 2006 Saab 9-3 Combi?
Is there room for improvement?
MSRP - $33,415
Selling Price - $30,332
Money Factor - .00184
Acq Fee - $695
Term - 24 months
Cash Down - 1,030
Rebate - $500
Miles - 12,000
Total Down - $2,500
Payment - $329.78 (6% sales tax)
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- #49 of 546
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I like math
by qool
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Nov 15, 2005 (5:12 pm)
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Greetings,
this is my first post, so be kind to a fellow newbie. From trolling both this and the 9-5 lease forums, I see people posting specific money factors and residuals.
How did you people discover the base money factor of .00164(Nov) and 12k mi/24 mo residual of %72(past Oct)? Can I simply call Saab Financial (anyone have their number) and ask? I'm serious about leasing an '06 or '05 ($1000 rebate, if there any left) 9-3, and I don't mind doing my homework as the title suggests. Just like you, I want to walk into a dealership feeling good about spending this much money. (near-recent college grad, need nice car to offset reality of the working world, blah blah...)
Hopefully, this will also be my first new car and first leased car ... at a fair price, of course.
I appreciate anything I can learn from all of you.
Rob
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- #50 of 546
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Re: Saab Combi Lease Specifics cont. [steamboat72]
by Car_man HOST
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Nov 16, 2005 (3:32 am)
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Replying to: steamboat72 (Nov 10, 2005 11:15 pm)
Hey steamboat72. Let's calculate what your lease payment on this car should be like using Saab's actual lease program and the prices that you were quoted. According to my calculations, if you were to lease a 2006 Saab 9-3 2.0T SportCombi with an MSRP of $30,265 and a selling price of $28,970 through Saab Financial Services Corp. right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $402. I based this payment on the assumption that you are not going to make a capitalized cost reduction (aka down payment) because making one is not in your best interest. 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 Saab would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. If you use the $500 bonus cash that Saab is providing to reduce this car's cap cost, the payment would drop to around $387. If you were to roll Saab's $595 acquisition fee into your car's cap cost, this would be about a wash and result in a monthly payment of around $405. If you were to make the $2,000 down payment on this car that the dealer asked for, it would drop the monthly payment to around $346 before tax. I used Saab's current buy rate lease money factor of .00164 to arrive at these payments. If you pay a security deposit, you should be able to take advantage of this factor. The two things that you need to do in order to assure that you are getting a good lease on this car are negotiate a low selling price and make sure that the dealer is using Saab's buy rate money factor to calculate your monthly payment.
Car_man
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- #51 of 546
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Re: Saab Sports Combi Lease [jack00]
by Car_man HOST
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Nov 16, 2005 (3:39 am)
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Replying to: jack00 (Nov 14, 2005 8:56 pm)
Hi jack00. The selling price that you were quoted on this car looks reasonable to me. The money factor and acquisition fee that you are being charged are a little high though. For consumers who pay a security deposit, Saab's buy rate lease money factor for a 24 month lease of a 2006 9-3 2.0T SportCombi is .00164. Saab will waive its security deposit requirement in exchange for a slight increase in vehicles' money factors. That probably partially explains why the money factor that you were quoted is higher, but there may be some mark-up going on there as well. I personally would rather pay a security deposit that I am going to get back than throw away money on a higher lease payment. Saab Financial Services Corp.'s current base lease acquisition fee is $595 in most states. It is slightly higher than this in a few areas though, such as New York and New Jersey where its base acquisition fee is $695. There may or may not be some mark-up going on with your acquisition fee, depending upon what state you are in.
The main thing that I would change about this deal if I was leasing this car is the down payment. 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 SportCombi would be exactly the same, regardless of whether you had put $1,000 down, or had made absolutely no down payment at all.
Car_man
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- #52 of 546
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Re: Saab Combi Lease Specifics [steamboat72]
by Car_man HOST
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Nov 16, 2005 (3:42 am)
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Replying to: steamboat72 (Nov 15, 2005 10:02 am)
You're welcome Steve. Vehicles' selling prices are the main negotiable aspect of leases. The only other thing that you can negotiate is you can make sure that the dealer that you are working with is using your vehicle's buy rate lease money factor to calculate its lease payment. While dealers do not have the authority to lower banks' published lease money factors, they are often allowed to mark them up to add additional back-end profit to deals. Pay a security deposit, and absolutely insist that the dealer use the .00164 factor to calculate your car's lease payment.
Car_man
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