Last post on Nov 14, 2013 at 11:30 AM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Dissecting the Deal - How To Spot a Good Lease
10 Steps to Leasing a New Car
The "Residual Value" of Leasing
Calculate Your Own Lease Payment
#77 of 194 Re: question on residual [thalthewall]
by kyfdx@Edmunds HOST
Aug 25, 2011 (4:02 pm)
Residuals are calculated on MSRP.
Some makes (Toyota, for example) restrict the dollar amount of options that can be residualized. You can't really calculate the residual on a Toyota... you just have to get it from the dealer.
I haven't heard of Kia doing that, though..
#78 of 194 Can you help me?
Oct 02, 2011 (3:23 pm)
I admit I have probably never gotten a really good deal on a car, and have gotten REALLY ripped off more than once. I have done better on my last few purchases, since I started researching before my purchase, but unfortunately my most recent purchase a certified Yukon Denali, was a LEMON. I have literally had things falling off this SUV. It has had to have more repairs in the 6 months that I have owned it than all the cars I have ever owned put together! The warranty is only good for 6 months, and there are some major concerns about what I will do then. The dealership I purchased it from has been a nightmare...
I have about $8,000 ( I am being conservative) equity in the Yukon, and am ready to just trade it in for a lease. But to be honest I am scared to death to make another mistake. I am tired of being ripped off. I need something that seats more than 5 people ( we are a family of five) and I carpool a lot. So I am looking at an SUV or crossover of some type.
I have read through some of these posts and the math just makes my head hurt. I see these adds for low leases but they are always for a stripped down model. I tend to like the higher end trims. Also I only drive about 10,000 miles a year.
Where do I start?
#79 of 194 Re: Can you help me? [fishmomma]
Oct 04, 2011 (8:28 am)
First, in some states, trading in an owned vehicle on a lease will give you a tax credit.
Second, I wouldn't put any more than $2-3k of your truck's equity down on a lease. Most advertised lease payments require a lot down, are plus tax, MV, dealer fees and include rebates that you may not qualify for. Read the fine print.
A good rule of thumb is that every $1k out of pocket on a 3 year lease is about $30/mo in payment.
So if the ad is $5k out of pocket, and you want to throw $2k out of pocket, assume that the $299 will be more like $389.
#80 of 194 Lease amount
Oct 15, 2011 (3:27 pm)
I am getting into a lease for a 2012 Passat SE (automatic 2.5L) with an MSRP of ~25700 for 297.50/month for 36 months with 36000 miles. Any comments on this deal?
#81 of 194 quick question on lease question
Feb 28, 2012 (5:59 pm)
Hi, I need to make a deal by tomorrow and was wondering if anyone can tell me these numbers are correct. Its on a lexus CT200H but the numbers look fishy to me.
I have tried alot of lease calculators but can't get the numbers they are getting
Vechical price - $36,509.00
Discount - $3,233.03
Rebate - $750
Total saling price - $32,525.97
Sales tax - $2094.87
Tag/title - $298.75
Dealer fee - $699.99
Balance Due - $35,626.04
money factor is .00160
Residual is - 62%
I live in florida and I'm putting down $5k and they say my monthly payment will be $365/month for 36/months 10k miles lease
I can't get the same numbers as them, at first I asked why they charge me tax on the whole vechical if i'm leasing, but they say when they compute it, it's without that tax.
Can someone compute this for me and see what my monthly should be? The $5k down, part will be 1st months payment. - this is for a lexus
#82 of 194 Re: quick question on lease question [mefromfl]
Feb 29, 2012 (8:45 am)
I can make the numbers work almost to the penny if the residual is based on the selling price (not MSRP). Are they stating the 62% residual or are you backing into that? Do they give a stated $$ amount for the residual and if so, what is that amount? I'm not familiar with Florida sales tax so I'm not sure if it's charged on the full sale amount or just the payment. If it's not on the full sale amount then we're off by an even wider margin unless the $365 includes the sales tax.
#83 of 194 Re: quick question on lease question [mefromfl]
Feb 29, 2012 (9:15 am)
According to the info I found online, FL calculates the tax on the lease payment. So you can just take that $2094.87 out of your equation. Calculate the payment, then add your normal sales tax rate to the payment.
Your residual should be 22635.58. Is that correct?
Feb 29, 2012 (2:18 pm)
yes residual is 22635
now they said they used a money factor of .0026
and they gave me a new quote with .0016 (that's what they said)
3919 down will be $339/month
that 3919 down includes doc fees, tag and 1st month payment
does that first money payment make a diffrence? that's confusing me
thanks for the reply
#85 of 194 Re: quick question on lease question [qbrozen]
Feb 29, 2012 (2:40 pm)
yes residual is 22636.58
is it better for me to pay off the dealer fees and tag fees first instead of putting all my money down as a cap reduction?
They are saying I can't use my rebate in the net cap cost total, i can use as a cap reduction though, isn't that same thing?
now they are charging me aqusation fees also since I found their numbers were wrong. Should i just walk away from them? they are puting some insurance fees etc in now without showing me the total selling price.
#86 of 194 Re: quick question on lease question [mefromfl]
Mar 01, 2012 (6:55 am)
yes, walk away.