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  #61  
Old 04-19-2013, 05:24 PM
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Re: 14' Lease Rates (April)

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Originally Posted by adthebadstud View Post
If work is paying for it, why do you care about the deal at all? Just curious.

Also, if you don't know your residual and money factor how do you have any idea whether it was a good deal or not? What was the sale price?
I was posting information so someone else had an idea of what my payments where - just trying to help out with what I knew about my deal. MSRP, Term, Mileage, Money down and payments.

Also - I do care because work gives me an allowance and I pocket the difference - but in order to get it I need to have a monthly payment, regardless of what it is.
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  #62  
Old 04-19-2013, 05:25 PM
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Re: 14' Lease Rates (April)

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Originally Posted by SW03ES View Post
This is the point. If you are offering the terms of your lease as some information that may benefit someone else...that information is of no value without the purchase price, MSRP, residual or money factor. The residual is vital on a lease whether you intend to purchase the car or not as the difference between it and the purchase price are the core of the lease.

Those of us who are knowledgable about leasing know the mortal sin when leasing is negotiating based on the payments. If you as a consumer go into the dealer and lease a car without knowing the money factor or residual...you got hosed somewhere. I know for me I just don't want to see that happen to people, and its so easy for it to with a lease.
Well said.
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Old 04-19-2013, 05:31 PM
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Re: 14' Lease Rates (April)

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This is the point. If you are offering the terms of your lease as some information that may benefit someone else...that information is of no value without the purchase price, MSRP, residual or money factor. The residual is vital on a lease whether you intend to purchase the car or not as the difference between it and the purchase price are the core of the lease.

Those of us who are knowledgable about leasing know the mortal sin when leasing is negotiating based on the payments. If you as a consumer go into the dealer and lease a car without knowing the money factor or residual...you got hosed somewhere. I know for me I just don't want to see that happen to people, and its so easy for it to with a lease.
I understand that the money factor and the residual are valuable gauges to tell if you got a good deal when you don't have a pretty good grasp on where the payments should be.

But if you know the payment is a good deal based on MSRP, Term, Mileage Etc and you never intend on purchasing the vehicle at lease end then the residual doesn't matter nor does the money factor.

In short, I get what you are saying and I know how a lease works but I don't agree that everyone needs to. If he/she knows that we all bought a limited at 41870 MSRP for 15K a year 39 months and payments between 475-525 then that gives him/her a pretty good gauge.
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Old 04-19-2013, 05:34 PM
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Re: 14' Lease Rates (April)

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You're right. I was harsh for that. My bad.
No sweat and Thanks.
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  #65  
Old 04-19-2013, 05:37 PM
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Also, on a 39 month lease you end up having to pay for tags a 4th time, and then you are out of the car 3 months later. Just an FYI for anyone thinking about doing a 39 month lease.

And the msrp is mostly irrelevant for your deal, someone else with the same car could have a sale price well below invoice, whether using affiliates or conquest discounts. That's why the money factor and residual are completely necessary for anyone who has to pay for their own car in that they would allow them to calculate their payment.
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  #66  
Old 04-19-2013, 05:40 PM
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Re: 14' Lease Rates (April)

Keep the knowledge coming guys as iam going to be leasing a gc soon! This thread has been very helpful.
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  #67  
Old 04-19-2013, 05:41 PM
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Re: 14' Lease Rates (April)

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Originally Posted by Llemaitr View Post
But if you know the payment is a good deal based on MSRP, Term, Mileage Etc and you never intend on purchasing the vehicle at lease end then the residual doesn't matter nor does the money factor.
...
In short, I get what you are saying and I know how a lease works but I don't agree that everyone needs to. If he/she knows that we all bought a limited at 41870 MSRP for 15K a year 39 months and payments between 475-525 then that gives him/her a pretty good gauge.
You're just dead wrong...sorry I don't know how better to put it. I have leased many cars and I consider myself an expert on car leasing and negotiating car leases. I have never been presented a lease that has been calculated properly...never one time. There has ALWAYS been money hidden in the lease somewhere. Always. 99% of consumers would just sign, but me knowing how to calculate a lease and what goes into a lease has saved me $50-$150 (seriously) a month every time I have ever leased a vehicle. If you save only $50 a month, that multiplied over 36 months thats a savings of $1,800. If its $100 a month, thats $3,600. My 2013 Lexus payment was $140 high when all our "negotiated" terms were put into the lease. Me knowing how to negotiate a lease saved me $5,040 over the term of my lease.

You need to know what the residual is as offered by the lender, and you need to know what the base money factor is, or you ARE overpaying. Bottom line. The residual has nothing to do with whether or not you are buying the car. The lease is the difference between the purchase price and residual, plus interest and fees. Its that simple really. How can you sign a deal when you don't know what 2 of the 3 terms of that deal are!?!?! Thats insane.

Being within $50 isn't good enough for me...I want people to live up to the deals we negotiate. If the dealer is padding money factors or reducing residuals they are not living up to our agreement, and if you don't know the terms of what you are signing you have no idea if it is actually what you agreed to.
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Old 04-19-2013, 05:46 PM
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Re: 14' Lease Rates (April)

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Originally Posted by SW03ES View Post
You're just dead wrong...sorry I don't know how better to put it. I have leased many cars and I consider myself an expert on car leasing and negotiating car leases. I have never been presented a lease that has been calculated properly...never one time. There has ALWAYS been money hidden in the lease somewhere. Always. 99% of consumers would just sign, but me knowing how to calculate a lease and what goes into a lease has saved me $50-$150 (seriously) a month every time I have ever leased a vehicle. If you save only $50 a month, that multiplied over 36 months thats a savings of $1,800. If its $100 a month, thats $3,600. My 2013 Lexus payment was $140 high when all our "negotiated" terms were put into the lease. Me knowing how to negotiate a lease saved me $5,040 over the term of my lease.

You need to know what the residual is as offered by the lender, and you need to know what the base money factor is, or you ARE overpaying. Bottom line.

Being within $50 isn't good enough for me, and it shouldn't be for you either.
Allright - I dug up the paperwork - Along with the info I provided my Residual Value is 22490. I don't see a money factor anywhere on my paperwork. Also my payment in 449 without tax.

Hope that stuff helps cuzz its all I got.
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Old 04-19-2013, 05:49 PM
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Re: 14' Lease Rates (April)

What was MSRP? We can back out the terms of the lease from those 2 pieces of info.
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Old 04-19-2013, 05:50 PM
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Re: 14' Lease Rates (April)

So you signed a finance agreement that doesn't outline what interest you were paying...thats absolutely insane. Just crazy.

Sorry...but I understand torifle's frustration. Dumbfounding...like sheep for the slaughter.
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Old 04-19-2013, 05:51 PM
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Or your negotiated sale price...
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Old 04-19-2013, 05:52 PM
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Re: 14' Lease Rates (April)

And we wonder how people got into interest only and negative am home loans? Lordy...
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