How to Find out the Manufacturer's Lease Rates
Figuring out each manufacturer's current lease rates can be frustrating.There's no source that publishes all of the current figures so the consumer is left to figure it out on their own.
Each month, manufacturer's send dealers an updated list of residual values and money factors for each model and trim level.
It looks something like this:
24 Month - Residual 52% of MSRP - .00212 Base Rate
36 Month - Residual 50% of MSRP - .00016 Base Rate
48 Month - Residual 39% of MSRP - .00212 Base Rate
2011 Jeep Grand Cherokee Limited 4WD
24 Month - Residual 48% of MSRP - .00212 Base Rate
36 Month - Residual 44% of MSRP - .00118 Base Rate
48 Month - Residual 37% of MSRP - .00212 Base Rate
2011 Jeep Grand Cherokee Overland 4WD
24 Month - Residual 49% of MSRP - .00212 Base Rate
36 Month - Residual 44% of MSRP - .00118 Base Rate
48 Month - Residual 37% of MSRP - .00212 Base Rate
Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms. GMAC base acquisition fee is $795.
With this information, you can easily calculate what your monthly lease payment will be.
To get this information, all you need to do is call a car dealership and ask to speak to someone in the finance department. Let them know you're interested in leasing a certain model and that you'd like to know what the best residual and money factor is on a 36 month lease (or whatever you prefer).
Some dealers will want to know what your credit score is so they can give you the correct money factor.
You should have no problem getting the leasing rate information - if you do, just call another dealer. In fact, you'll want to call 2 or 3 dealerships anyway, just to make sure you get accurate figures.
That's really all there is to it.
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid
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