Last post on Jun 27, 2013 at 10:35 AM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Car Buying, Car Leasing
#22 of 46 Re: Negative equity trade- in [tntgirl12]
Dec 24, 2011 (6:36 pm)
I know a broker that gets great prices on mercedes leases 340 for a c clas mercedes 2012 with 1500 drive off at signing a poaded car with amg package, great broker
Jan 04, 2012 (9:01 am)
A reporter is looking to speak with consumers who are in the market right now for a car loan or a car lease or who just recently secured a loan or lease. Is/was it easier or more difficult than you expected? Please send a quick note discussing your experience and your preferred contact information to predmunds.com by Friday, January 6, 2012.
#27 of 46 Re: Leasing brokers [wallstreet1234]
Apr 13, 2012 (1:22 pm)
One of the best leasing companies in NYC is Grand Prix Motors. I personally leased 3 cars already over the last 3 years from them. They gave me the best price and great service. Check them out www.grandprixmotors.com
#28 of 46 How to find lease money factors and residuals
May 19, 2012 (2:30 pm)
1. Unfortunately, there isn't a law requiring auto makers to publicly disclose their lease money factor rates (interest rate) or their residual rates 9calue of car after duration and miles are put on.) This makes it *very* difficult to compare lease incentives across different comparable makes, models and trims. I wish there were a law enacted that would force this information to be as clear as auto loan interest rates are today.
2. Somehow, Car_man who is a "host" on these excellent Edmunds Forums, seems to thankfully have access to nearly unlimited lease money factor and residual info from most makers, and for years has been reporting very accurate information in reply to each individual request. But he is only one man, and it can take some days for him to get back to each person. I have always been super curious, Car_man, where *do* you get this information, and how come we all can't just get to the data directly? I know of course, it's not up to you, but can you give us some insight on how you gather this info? And why edmunds.com can't or won't just publish this extremely valuable data in an open manner? Of course, thank you for all the information that you *do* pour out every day Car_man.
3. The best always accessible website that I have found that has a good amount of detailed lease info for many cars, is this link below (sorry Edmunds, it's from cars.com). It is *not* always accurate, and should be taken with a grain of salt, but I have found it to be helpful, but not nearly as accurate as Car_man. Note that this site lists money factors as a percentages, which is actually the money factor number times 2400 (for example MF 0.0006 x 2400 = 1.44%) to get a fairly comparable number to standard auto loan interest rates. Just enter you zip, and then click into each model and trim to see detail lease info.
4. Each dealer *should* be able to provide you MF and Residual for a specific car, with a specific lease length in months, and miles per year. But you have to "get involved" with a sales guy to begin to extract this kind of info. Ugh.
5. There is a company called ALG that publishes a "residual guide" each quarter of what they recommend as the residual for each model and trim, after different lease lengths of time, and different mileage usage. They *will sell* you a single copy of their "Residual Percentage Guide 2012 Models National" book for about $50 by calling the number on this link, 1-805-898-8400. The manufacturers *do not* always match these residuals all the time, but it *is* a fair way to generally see what models and trims would give you a relatively cheaper monthly payment, due to holding their value better.
Hope this helps everyone.
Nov 08, 2012 (7:44 pm)
I'm looking to do a 36 month lease on a 2013 Mini Hatchback but not sure if I'm entering a good deal. I've read some of the posts and replies on here about the residual, etc. I'm somewhat confused so came here for help. Any help is appreciated! Here is what I'm looking for and what they're offering:
Option 1 - Custom built online Hatchback, panoramic sunroof, Red, Premium Package 2, Heated Seats, Arm rest, Automatic, Heated Seats, 16" black 6 star wheels, Rooster red trim on dashboard, upgraded stereo. $25,296; Residual .65; 10,000 miles; $950 down with a $343 monthly payment
Option 2 - Same as above but with $2000 down and a $302 monthly payment
Option 3 - Premium Package 2, automatic, center armrest, (NO updated stereo, heated seats, or 16"wheels) - $$23,500; Residual .65; 10,000 miles, $908 down with a $322 month payment
Option 4 - Same as Option 3 but with $2000 down and a $289 monthly payment
Option 5 - Purchase a used 2010 Black Mini Cooper S, panoramic roof, 23K miles, NO heated seats, NO upgraded stereo, $19,500
Thanks in advance!
#31 of 46 Naive about Leasing
Feb 13, 2013 (6:31 am)
In July, I'll be returning my leased 2010 Altima. I'm starting researching early to see what my next car will be. In doing this research and finding these forums, I'm realizing how much I didn't know about the process of making a lease deal. When the dealer gave me the price on my current lease, I accepted right away because the payment was significantly less than what I was paying for the purchase I traded in to go on lease. I assumed that when I saw those lease deals offered on TV and in newspaper, everyone paid the same for the lease. I'm now finding out I was quite wrong and should have negotiated for the price.
What I'm hoping to get here is some guidance on how to begin the conversation with a salesperson regarding negotiating the price of the care the lease is based on. Can anyone offer suggestions? I would be most appreciative.