Current residuals/money factor for lease on 2002?
09-27-2002, 08:51 PM
#1
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Current residuals/money factor for lease on 2002?
My dealer is telling me that the residual/money factor for a 48 month lease with 10K miles per year is 55% and .0026 (from Porsche Financial)
Anybody else hear different from their local dealers? I'm trying to make sure my dealer is not marking up the money factor/knocking down the residual.
Thanks.
Anybody else hear different from their local dealers? I'm trying to make sure my dealer is not marking up the money factor/knocking down the residual.
Thanks.
09-28-2002, 03:17 AM
#3
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I used leasecompare.com.
Their current money factor is .00235. They charge only 0.18 cents for every mile over your allotment. I've seen others charge about 0.2 or 0.25 for porsches.
OTOH, their residuals are low. Which jacks up the payments. OTOH, if you are interested in purchasing the vehicle at the end, a lower residual might be better. My last car had a high residual and the freaking bank wouldn't give me fmv because their insurance paid them close to the inflated residual value.
Their current money factor is .00235. They charge only 0.18 cents for every mile over your allotment. I've seen others charge about 0.2 or 0.25 for porsches.
OTOH, their residuals are low. Which jacks up the payments. OTOH, if you are interested in purchasing the vehicle at the end, a lower residual might be better. My last car had a high residual and the freaking bank wouldn't give me fmv because their insurance paid them close to the inflated residual value.
09-29-2002, 10:05 PM
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drkm3,
I'm not sure what you mean.
Just go to leasecompare.com, and under the heading "how it works, in 5 easy steps" (in the middle right of the page) click on select a vehicle. Then fill out the info, car, type, year, mileage, etc. They will then give you a couple of quotes, all this without asking any personal data.
If you would then like to select one of the quotes, you just then proceed.
2 other things:
1. My money factor was 0.0022; not 0.0026 as I mentioned earlier. The 2003 911's money factor was even better last time I played around on leasecompare.
2. I think their rates are also OK for 2nd hand cars. Had I known this before, I might have leased a low mileage 911 through them, so that I wouldn't pay for the immediate depreciation. OTOH, I like breakin my own car.
I'm not sure what you mean.
Just go to leasecompare.com, and under the heading "how it works, in 5 easy steps" (in the middle right of the page) click on select a vehicle. Then fill out the info, car, type, year, mileage, etc. They will then give you a couple of quotes, all this without asking any personal data.
If you would then like to select one of the quotes, you just then proceed.
2 other things:
1. My money factor was 0.0022; not 0.0026 as I mentioned earlier. The 2003 911's money factor was even better last time I played around on leasecompare.
2. I think their rates are also OK for 2nd hand cars. Had I known this before, I might have leased a low mileage 911 through them, so that I wouldn't pay for the immediate depreciation. OTOH, I like breakin my own car.