- #136 of 272
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Re: ..thanks urbanomad...I got a great deal [svofan2]
by kmurray5
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Oct 12, 2007 (4:28 am)
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Replying to: svofan2 (Oct 11, 2007 2:46 pm)
svofan2 - do you know what your residual % and money factors are? Im beginning neogitations on a Limited AWD, EVP # 2 in NJ, and was given a residual of 54.6% (seems low - bad) and a money factor of .00128 (~3% - very good). This is big net positive compared to the Acadia we are cross shopping where the residual is 63%, but the lease rate is 8.5%.
Running these the 54.6%/.00128 on your deal, I calculate that your capitalized cost was $2k over invoice, which is ok. Of note, calculating your deal with the Acadia's residual % and lease rate increases your pmt by $60/month.
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- #137 of 272
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Re: ..thanks urbanomad...I got a great deal [kmurray5]
by urbannomad
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Oct 12, 2007 (7:05 am)
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Replying to: kmurray5 (Oct 12, 2007 4:28 am)
we have almost the same deal w/svofan. I leased 1 week before him. I posted my numbers before for the car you were about the lease. Limited awd w/evp2.
The money factor is around 0.0026.
With the money factor ( I think it is a teaser rate) that you mentioned what they do is, they mark the car up at least 1-1.5K invoice or more..
If you can get that type of deal with sales price $500 over invoice with the money factor you mentioned, you gonna have a slam dunk deal as your monthly payments should be at least $40-50 below my monthly payment.
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- #138 of 272
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Re: ..thanks urbanomad...I got a great deal [urbannomad]
by kmurray5
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Oct 12, 2007 (9:39 am)
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Replying to: urbannomad (Oct 12, 2007 7:05 am)
Thanks. You are right, my deal would be $508/month if I could get them down to $500 over invoice, but not sure they will go this low. I would consider anywhere b/w $525-$550 a good deal. What dealer did you use?
BTW, my local GMC dealer quoted me $769/month on a loaded Acadia which implies a cap cost of $500 above MSRP. This is despite the manager knowing that I have bought 5 vehicles from the dealer over the last 12 years (has several brands). The Acadia lease works out to $8k more over 3 yrs than what the Sienna will cost me despite the Acadia having an MSRP of only $2.9k more.
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- #139 of 272
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Re: ..thanks urbanomad...I got a great deal [kmurray5]
by urbannomad
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Oct 12, 2007 (10:28 am)
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Replying to: kmurray5 (Oct 12, 2007 9:39 am)
So your GMC dealer wants to lose you as a client:-)
You should be able get those vehicles thousands dollar below invoice(rebates, holdback etc) and he quotes $500 over MSRP? Good luck in his future endeavours:-)
After seeing Sienna, I would never think about buying an SUV..
Give me your e-mail and we will arrange you to get a Toyota Sienna like my new buddy svofan..
The key is to cut the deal with the business development manager/internet sales manager.. If you call sales people, you will most likely get bad quotes..
By the way it was my easiest/quickest car leasing/buying experience in my 20 years of driving:-)
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- #140 of 272
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Re: ..thanks urbanomad...I got a great deal [urbannomad]
by svofan2
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Oct 12, 2007 (11:45 am)
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Replying to: urbannomad (Oct 12, 2007 10:28 am)
WRONG!!!!!!!!!!!!!!!!!!!!...mine was the easiest,it only tok me 10 minutes (about 5 less than you) and that was because YOU did all the work and I rode your coat tails. Do you think Toyota is subsidising these Sienna leases?...the guy from FitzMall wrote to me and said that that deal is IMPOSSIBLE!!!...I responed ok....I am picking up my Sienna Limited AWD with towing and EVP #1 on Saturday...
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- #141 of 272
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Re: ..thanks urbanomad...I got a great deal [svofan2]
by urbannomad
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Oct 12, 2007 (12:42 pm)
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Replying to: svofan2 (Oct 12, 2007 11:45 am)
First of all dealer is making money from the 2% MSRP holdback. Second they should be using the half of the money factor internally that they gave it to their tier one credit customers. It is a good money on a 3 year span.
Also they make $500 over invoice..
Add all these figures up, it is still good profit.
I am sure there are other incentives for the dealers that we do not know.
Things will only get worse to the end of the year so I am sure there will better deals in Siennas but we needed the car pronto.
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- #142 of 272
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Re: ..thanks urbanomad...I got a great deal [urbannomad]
by svofan2
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Oct 12, 2007 (4:49 pm)
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Replying to: urbannomad (Oct 12, 2007 12:42 pm)
I am happy andso are you...I always believed that bird in hand is worth more than..(you know the rest)
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- #143 of 272
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Re: ..thanks urbanomad...I got a great deal [urbannomad]
by finwife
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Oct 13, 2007 (12:17 pm)
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Replying to: urbannomad (Oct 12, 2007 7:05 am)
Hi..Was just catching up on all the great posts..I need help..Am looking for at 08 Sienna LE w/EVP # 2 from Edmunds, which has a different MSRP from Toyota (27605) vs Edmunds 27125 (TMV=26020)..How much theoretically could I spend on a 36 mo/ 15k/yr lease...I tried to use an online calculator with the money factors/residual value listed and came up w/ $ 179/month...obviously I did something wrong ..Any help would be greatly appreciated..
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- #144 of 272
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Re: ..thanks urbanomad...I got a great deal [finwife]
by svofan2
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Oct 13, 2007 (4:43 pm)
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Replying to: finwife (Oct 13, 2007 12:17 pm)
where are you located?.....if in Nj please read my previous post...I was so happy with Glen Toyota that I can stop recommending them. In my many years of car buying and lately leasing I have never encounter such a great bunch of guys...no pressures and excellent prices,of to those that know their numbers...
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- #145 of 272
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Re: ..thanks urbanomad...I got a great deal [urbannomad]
by hause7
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Oct 15, 2007 (7:32 pm)
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Replying to: urbannomad (Oct 12, 2007 7:05 am)
Im thinking of Leasing an XLE with Extra value pkg. 4 then purchasing it after the lease, should i do that? I can pay a lot lower every month that way.
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