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Discussion Starter #1
I know that this is a common topic, and I DID search through old threads, but I couldn't find an exact number on monthly payments. This is what I'm looking at now:

$5K down
15K miles/yr
Black/Black
LS Package (moonroof, Leather, trunk mat, wheel locks)
$510/month (tax, lic., dest., etc. included)

Is this reasonable?
Help! I'd love to drive this car home this weekend...thanks!
-jb
 

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You have to find out two things.

One: What is the cap cost of the lease, this is the amount you are paying for the car.

Two: The residual value.

Also what is the 5k for. Is there built in fees included into that 5k or is that all cap reduction?

Here is my deal.

Cap cost : 32,500 Silver IS300, leather, power seats, sun roof.

Residual was .67% for about 22,000.

I put no money down. My payment is 504.00 and that includes the tax.

That is another issue. Is the payment they quoted you, 510.00 include the tax.

To be honest that seems like a lot of money down and the payment is very high.

You may want them to give you some details.
 

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Sounds high to me....do the steps mentioned above...just know that the lease rates are typically in the 9% range...so you will get bent over on this deal. Just set it up so you can enjoy the ride.

Any reason you need 15K miles? If you go 12K miles the numbers come down...I went w/ 12 because I am going to buy it at the end...I'll end up paying a little more but my income/cash position will continue to grow over the years so the little extra money now is nice and paying a little more later won't make such a dent.

Shoot for a low $400(w/tax and tip) payment.
 

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Discussion Starter #4
Yikes. I like your numbers a lot more.
The Cap Cost is $34,117.49 (incl. dest.)
Residual Value is $22,005.75
Lease Factor at 0.004

The Cap Costs are different by $1600 or so, which is enough to offset the deal by 44/month.

Thanks for the info.

P.S.- Just spoke with the dealer. Brought the factor down to .039, and shaved $500 off the price. I'll take it at $475...


P.S.- Interest rates are now at 9.95% with a blemishless record...thanks, Greenspan...
 

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Also, how many months. I have mine for 36 mos.

Are you still putting down the 5k? That seems kind of high. I had to put nothing down, not even a security dep.
 

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Discussion Starter #6
ISFAN,
Thanks for the info...one question:
Where do you live?

I crunched your numbers, and it blows my mind. I'm thinking that there could be a disparity in sales tax, destination fees, etc.

I could also be wrong...jb
 

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I am in Orlando, FL.

My cap cost was 32,300 that included dest.

My residual was 22,000 (round)

My payment is 475 plus 6% sales, total payment 504 (rounded)

I will go to my car and get the lease and see what other numbers are in there.

The only thing I put down was 504.00 which is the first month payment. 450.00 which was a lease acuisition fee by the leasing company, and 90.00 for the tag. No security dep.
 

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Discussion Starter #8
Ahhhh, Florida.
Sales Tax in Cali is 8.5%, and all of the other things (acquisition, tag, 1st mo. payment) are included.

We both win!
Think the Magic have a chance this year?
-jb
 

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I am looking forward to the season, should be a wonderful change of pace! My dog is named Shaq. I still have not gotten over his leaving our wonderful city.

Are you still putting 5k down though on your lease? That still seems kind of high, I guess not if your cap cost is only 500.00 off the msrp. And man that tax 8.5%, you all over there need to move your azzz's to Florida. Do you have state income tax there as well?
 

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I actually got Pretty much the same deal...But a bit better residual here in Ca.

$3000 down
15K miles
M Silver/Black LS Package (moonroof, Leather, trunk mat, wheel locks)
$509 monthly w/ all taxes, etc.
$19,300 Residual.

Does this mean I got a pretty good deal....?

[This message has been edited by deepcover (edited October 02, 2000).]
 

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Originally posted by deepcover:
I actually got Pretty much the same deal...But a bit better residual here in Ca.

$3000 down
15K miles
M Silver/Black LS Package (moonroof, Leather, trunk mat, wheel locks)
$509 monthly w/ all taxes, etc.
$19,300 Residual.

Does this mean I got a pretty good deal....?

[This message has been edited by deepcover (edited October 02, 2000).]

How do you figure this was a better deal then me? Note residual lower does not mean a better deal? I essance what you are paying for the car is the cap cost less the residual. The lease is only for the difference basically.

You had to put 3k down! I had to put zip, just my first payment and tags, My first check to the dealer was 1k even. That included 504.00 for the first month payment, 90.00 for the tag 400 or so for the lease inception fee (standard with all leasing co.).

You want your residual higher, which means ultimately you are leasing the car for less. I guess the 19k residual could help if at the end of the less the car is worth 22k or so you can buy it for 19k, but I always thought the higher the residual the better the lease payment will be. I may be wrong. But bottom line, Our payments are the same, mine 504.00 and yours 509. Same options, but you had to put down 3k.

Also I got tint on my deal. In either case you did o.k. as so did I. We both have a great car, enjoy it!
 

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ISFAN
I guess I should have clarified. I was speaking to the originator of this thread.
I have the same payment, less down, and a lower residual. And I am pretty sure the tax, license, etc were the same for JB and me, as we are both from Ca.
 
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