JPTLS03

Well I am planning on ordering an 05 WDP Quartz w/navi. I am going to lease but want to know as much as I can about leasing before I get prices. Here are my questions...

1) What is money factor?

2) What is a good money factor?

3) What is residual?

4) Is there an actual sale price of the car and should this be negotiated?

Also any NJ lease pricing on 05's would help.

Thanks, John

Novice

Try this web site to anwer your question 1 and 2. http://www.leaseguide.com
3 changes every month. Call 2-3 dealers to find out what the residual is (should be around 50-59%).

4. Absolutely!

Nadimus

I just got info from my dealer on the residual on 05 TL. It went up 4 points from 04 model!!!

marioman

So that leaves the residual at what % ??

Nadimus

2004 TL Residual was 52%
2005 TL Residual now 56%

marioman

Thanks for the info, as I have my 05 on order

PG2G

How much of a difference is that gonna make in lease prices? Not too much?

Novice

About $40 per month assuming the purchase price is $34000, 36 moth lease, 5% sales tax and 3.9 interest rate.

Rodney

Wow, I'm just shocked that a sales rate can be that low, mine is 8.25% here in NY.

Now I inquired about a lease and they wanted a total of $2,700 due at signing. Where is there room to dicker here. Or how can I lease an 05 with 2k down and 400 month for 36 months(12k year). Sometimes I think Im an idiot, but just when I thought I knew about leasing, words like money factor and points popped up

Novice

No, you are not an idiot. Leasing is fairly complicated. You don't need to tell them that you are going to lease. Negotiate the purchase price first as if you are buying a car. Then, make sure you know what the residual is. Also, find out what the best money factor you can get. Do some calculations before you go there. Whether you want to put some money down or not, it is entirely up to you. If you put down some money, that will lower your monthly payment.

The sale tax in MD is 5%. In some states, you need to pay taxes on the purchase price of your car. In some states, you only pay taxes on your monthly payment. Study the website I attached above. Even though I knew a bit about leasing, my dealer tried to rip me off. They couldn't, because I had a laptop and a home made lease calculator! Good luck!

JPTLS03

Thanks for all the info

PG2G

The leasing quotes I'm getting from leasecompare.com look a lot nicer than what I was recieving on the 04s from dealers. I guess I'll have to contact them and see what they are offering.

JPTLS03

I wonder how the 05 RL will lease?