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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
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Congratulations on your financial windfall, Rickster. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive. In my opinion, you would probably be better off financially if you just rode out your current lease and financed or paid cash for your next new vehicle. Car_man Host Smart Shopper / Prices Paid Forums |
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Hello sjl225. I don't think that there are very many '05 Range Rovers still out there on dealer lots, but if you were to find a 2005 Land Rover Range Rover HSE and lease it through the Land Rover Capital Group for 24 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00320 and 64%, respectively. Its 10,000 miles per year residual value should be 65%. If you were to lease a 2005 BMW X5 4.4 through BMW Financial Services right now for 24 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00250 and 61%, respectively. Its 10,000 miles per year residual value should be 62%. As you can see, neither of these vehicles lease programs are currently very attractive. This is because their lease money factor support was recently replaced with dealer cash, $6,000 on the '05 Range Rover and $6,500 on the '05 X5 4.4. Make sure to take this cash into account when negotiating your leases on these trucks. Car_man Host Smart Shopper / Prices Paid Forums |
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Here is the information that you are looking for arrosen. If you were to lease a 2005 Chrysler Town & Country Limited through Chrysler Financial right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00076 and 46%, respectively. The numbers for an otherwise identical lease of the Touring version of this van should be .00163 and 49%. Car_man Host Smart Shopper / Prices Paid Forums |
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Hi b55140. I believe that Utah is in Toyota's Denver region. I have not seen its exact lease program for the 2005 Tundra for your area, but in every other area of the country that I have seen its lease program for Toyota Financial Services' current money factor for all '05 Tundra models is an amazingly low .00001. That's as close to a zero percent interest lease as one can get. TFS' current 36 month, 15,000 miles per year residual value for the 2005 Tundra Double Cab 4WD is 60%. Again, I have not seen the lease program for the '06 Tundra for your specific area yet, but in the areas that I have seen TFS' buy rate lease money factor and residual value for an otherwise identical truck are .00082 and 62%. Car_man Host Smart Shopper / Prices Paid Forums |
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Welcome karannarang. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. I would be more than happy to give you my opinion of the deal that you were quoted, however in order to work up a lease payment on this car to compare with yours I need you to provide me with its full MSRP (with the destination charge added in). For now I can tell you that the selling price that you were quoted looks good to me. Car_man Host Smart Shopper / Prices Paid Forums
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I sure can cagorm. If you were to lease a 2005 Infiniti G35 2WD Sedan through Infiniti Financial Services right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00106 and 57%, respectively. Car_man Host Smart Shopper / Prices Paid Forums |
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Hi dfosher. If you were to lease a 2006 BMW 325xi through BMW Financial Services right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00280 and 62%, respectively. The AWD version of the '06 325 does indeed have a residual value that's 1% lower than the RWD version. Car_man Host Smart Shopper / Prices Paid Forums
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Hi eel14. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive. You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: sysop, "Real-World Trade-In Values" #, 15 Dec 2000 2:07 am. One of our most knowledgeable community members, Terry, frequents that discussion and he is often kind enough to give community members who give him an accurate description of their vehicles with his opinion on their value. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle or purchase your current one. Banks are much more likely to negotiate the lease-end purchase prices of vehicles a month or two before their scheduled termination dates than they are well before then. Car_man Host Smart Shopper / Prices Paid Forums |
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Here is the information that you are looking for gold233790. According to the latest information that I have seen, if you were to lease a 2005 Jaguar X-Type 3.0 sedan with an automatic transmission through Jaguar Credit right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00125 and 41%, respectively. The numbers for an otherwise identical lease of the 2006 version of this car should be .00070 and 46%. When negotiating your lease on the '05 X 3.0, make sure to take the $4,000 dealer cash that Jaguar is currently providing on leases of it into account. Car_man Host Smart Shopper / Prices Paid Forums |
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