Money Factor and Residual?
#1
Intermediate
Thread Starter
Join Date: Oct 2003
Location: Phila, PA
Posts: 27
Likes: 0
Received 0 Likes
on
0 Posts
Money Factor and Residual?
Any idea what these currently are, or where I can get them? I'm not sure if a dealer will share the correct ones with me. I'm in Pennsylvania.
Thanks.
Thanks.
#2
Originally Posted by maller
Any idea what these currently are, or where I can get them? I'm not sure if a dealer will share the correct ones with me. I'm in Pennsylvania.
Thanks.
Thanks.
Some complain that this dealer or that dealer isn't up front and honest. Just be honest and up front with them and tell them what you want and hopefully they will return the favor.
#3
Racer
Join Date: Nov 2003
Location: Los Angeles
Posts: 427
Likes: 0
Received 0 Likes
on
0 Posts
Be Careful - This is where you can get screwed at the dealer. They can give you the low sale price you are asking for, and then give you a higher interest rate. The daler makes a kickback on the financing, so they get their profit that way. This is what Keyes in Van Nuys tried to pull with us.
When you get the SAME MF from a couple of dealers as the best rate, you can feel comfortable with it. I would ask for this BEFORE you set the price of the car. The residual is now set by the bank, so the dealers cannot play with it as before.
When you get the SAME MF from a couple of dealers as the best rate, you can feel comfortable with it. I would ask for this BEFORE you set the price of the car. The residual is now set by the bank, so the dealers cannot play with it as before.
#4
Intermediate
Originally Posted by maller
Any idea what these currently are, or where I can get them? I'm not sure if a dealer will share the correct ones with me. I'm in Pennsylvania.
Thanks.
Thanks.
Check outside lessors (eg leasecompare.com) to get other rates. Typically, I find lower residuals through other sources (even lower with a manual tranny with many lessors), but can get better MF's. Watch out for high acquisition fees in the $800 range (AHFC is $495, I believe).
I recommend you shop rates elsewhere, apply and be ready to use a low outside rate and bring it into the dealer. They have their own through AHFC, of course, but can shop other lessors. You will need to negotiate that - don't let them just "match" your outside bid, have them beat it if they can.
#5
Intermediate
Thread Starter
Join Date: Oct 2003
Location: Phila, PA
Posts: 27
Likes: 0
Received 0 Likes
on
0 Posts
Thanks! If I punch those numbers into a lease calculator ( http://www.leaseguide.com/calc.htm), I come up with a $494.87 lease payment. $32000 leased, no downpayment, 6% sales tax, 42 months. The site doesn't figure in mileage.
Trending Topics
#8
Originally Posted by maller
OK. Does that lease price seem accurate? It's not too bad.
6MT Non-Navi
42 month lease
$0 down
15K miles per year
$450 per month includes tax
I think my cap cost on my car was $31,700 or thereabouts.
Thread
Thread Starter
Forum
Replies
Last Post
rp_guy
Member Cars for Sale
9
07-16-2017 07:33 AM
jterp7
3G MDX (2014-2020)
9
02-03-2016 08:34 PM