[jackiemd]

I think it's hard to convert price paid into monthly payments on a lease because there are so many variables. My dealer said I shouldn't bother talking to the lease guy until I'm ready to order because things change so much. But, the monthly payment will probably be the deciding point for which options I go with. The price I come up with when I build the car is about 41K but that really doesn't tell me how much the monthly payment will be. If you don't mind sharing the info, I'd love to know what your monthly lease payment is, and if you want to give details such as how many months, how much down payment, miles per year limit, etc. I'd really appreciate it. Of course, if you think this asking for too much information, don't reply, I'm just trying to get an idea if I can really afford all the DVD/NAV options that I'd love to get. Thanks!
PS: I'm not looking to get into a discussion of buying vs leasing, this will be my 5th leased car, leasing works for me.

 

[coopermine]

I think it's hard to convert price paid into monthly payments on a lease because there are so many variables. My dealer said I shouldn't bother talking to the lease guy until I'm ready to order because things change so much. But, the monthly payment will probably be the deciding point for which options I go with. The price I come up with when I build the car is about 41K but that really doesn't tell me how much the monthly payment will be. If you don't mind sharing the info, I'd love to know what your monthly lease payment is, and if you want to give details such as how many months, how much down payment, miles per year limit, etc. I'd really appreciate it. Of course, if you think this asking for too much information, don't reply, I'm just trying to get an idea if I can really afford all the DVD/NAV options that I'd love to get. Thanks!
PS: I'm not looking to get into a discussion of buying vs leasing, this will be my 5th leased car, leasing works for me.

:ditto:

I don't anyone of the current owners on this board have leased it, they all purchased it. I guess I will be the first one if you won't beat me :

I went to a dealer a couple of weeks ago, the numbers he gave me were so close to the monthly payments as if I had purchased it. But here are some numbers anyways which should be the same across the board

for 36 month / 12K miles per year the residual is 63% and money factor is 0.003
for 39 month / 12K miles per year the residual is 62% and money factor is 0.003

Admin has posted a very good link to the article which explains everything about lease payment calculation infact there is calculator as well which you can download then plug different numbers to get the feel how much your payment would be. Also it will give you an idea how much the dealer is playing with you.

The dealer I went to used the same numbers as mentioned above and his monthly payments were at least $75 to 100$ more than what I had calculated. So when I cornered him he said he is not putting the pricing we have negotiated blah blah blah..I was so disgusted I walked out of there.

 

[jackiemd]

Thanks for the reply. I did use the link and did the calculations myself, came up with about 470-500/month, which is a bit more than the 420 I'm paying now. I am kind of worried about a situation like you described where the lease price is much more than I expect. I'll let you know what happens when I go in there.

 

[coopermine]

I will be meeting another dealer tomorrow, will update you as well. Now the options are slightly different then what I originally wanted. I don't want to wait anymore and the dealer has already one on order which is very close to what I want. The MSRP for this configuration is around $42K and change. I am hoping the lease payments will be around $450-$475. Lets see.

 

[netmag]

If you wanted to sanity check your numbers, you might try searching around on the acadiaforum site. There may have been some people who leased the Acadia on that site so I would think the numbers would be somewhat similar.

 

[coopermine]

That is a very good point, thanks!

 

[coopermine]

OK, got a deal via email from a local dealer, here are the specs.

MSRP $43,115
Selling Price: $40,387
Due at signing (including cap cost reduction, taxes, and fees): $4950
Monthly lease payment for 36 Months: $475

Does this sound reasonable? This is the first time I am leasing so I am not sure if this is a good deal.

 

[JB]

The three thousand dollars off msrp sounds great...

The lease deal though at 5 grand down 475 a month doesn't.

If you could break out the taxes licence and maybe doc fees that would help us decifer what hes' charging...

I always look at a 36 month lease and say for every thousand dollars I put up front equals about 30 dollars a month in payments...(not including taxes and motor vehicle) I zero out the down payment and load the monthly into the payment to compare.

In my mind you are paying around 625 a month for the lease...8% approximately of which is taxes? approximately 50 bucks?

So your at 575 a month? for 3 years..? approximately 7000 a year for three years? 21 grand?

Actually its not bad if you look at it that way....on a 43 thousand dollar vehicle. or 40 with his discount..

I take it back..thats pretty dam fair.! I'd recommend it.

In fact...

Do you mind emailing me [email protected] who the dealer is as I'm shopping around the NY/NJ metro area and hearing msrp right now...(dealer twenty minutes from the house)

IF I could get 7% off msrp I'd be thrilled. I want to buy rather than lease for my personal situation and would appreciate if you could email me or post up the name of the dealer and saleman. Whichever you prefer.

I'm not moving on this for a month or two so I promise I won't screw up your deal.

Thanks

JB

 

[coopermine]

MSRP is exactly what he was offering, the 3K difference came after the Supplier Discount.

 

[JB]

MSRP is exactly what he was offering, the 3K difference came after the Supplier Discount.

Thanks! The supplier discount is awesome.

Too bad I don't know anyone working for GM or a supplier.

I say the deal is good. 21 is a good deal.

Good luck!

JB

 

[netmag]

I've never leased before either. I probably never will. No particular reason just that I don't want to deal with things that I don't fully understand unless it's totally obvious that it's a much better deal.

You might want to post your numbers on the acadiaforum just in case someone can shed some light on it there too.
You may also want to mention the miles per year they offered you.

From my simple math though, it looks like you'd be paying an average of $612.50 per month over the duration of the lease:
(475*36 + 4950)/36

Some of that is taxes though as JB pointed out.
I saw someone on the acadiaforum saying they were being offered in the $600-$700/month range for an Acadia with no money down.
So it seems like your monthly payment averages about the same except you'd be paying money up front.

I don't know. That seems kind of high to me for basically "borrowing" the car for 3 years. You might be better off just buying the car and keeping it a few more years. The longer you keep a vehicle the better a deal it becomes over time. However, if you're greatly concerned about reliability or just like to change cars every few years then leasing may be better. Then again, I guess it is a $40K car so maybe that's a normal payment. Also, if you buy it, who knows what it's going to be worth in 5-6 years? It may depreciate badly for all we know.

Basically I'm just throwing some thoughts out there. You need people who have leased before to tell you if it's a good deal or not.

 

[jackiemd]

OK, got a deal via email from a local dealer, here are the specs.

MSRP $43,115
Selling Price: $40,387
Due at signing (including cap cost reduction, taxes, and fees): $4950
Monthly lease payment for 36 Months: $475

Does this sound reasonable? This is the first time I am leasing so I am not sure if this is a good deal.

I always lease for 4 or even 5 years to lower my payments, I like 4 years the best. I think the monthly payment sounds good if it includes tax. The 5K due at signing, I agree, you need a breakdown as to what is cap cost reduction. I prefer to not put more than 2K down (cap cost), 3K at the most on a lease, because it's money gone forever unlike a car downpayment. But, if it is about 3K down (with the rest being tax/fees) and the 475/month includes tax, then I think that is good for a 36 month lease. One more question, is your milage limit 12K or 15K? I always have to get 15K to avoid a penalty which usually adds about 10-20 month to the payment. Let us know what you decide to do!

 

[coopermine]

It is 12K mileage. My wife is going to be the primary driver and she drives about 70-100miles/week.

 

[desertpar]

Since I get a new vehicle every 2 or three years leasing works best for me. I find that leasing is sometimes a challenge since it is often difficult to get the dealer to disclose all of the figures The initial selling price you were quoted sounds good since this is a popular new vehicle in relatively short supply as long as other charges that you are not aware of are not added back in. It would help if the dealer would show you the leasing worksheet which should include the MSRP, Base Cap Cost, any Cap Cost Reduction, any costs added to the lease such as acquisition fees, doc fees, license fees, etc., Residual value which probably should be around 63% of MSRP for 12K mis/yr (probably around 60% for 15K/yr), interest rate or money factor, term, and sales tax rate. Before I sign a lease, I obtain all of the the above figures and run them through an online lease calculator to double check the dealer's figures. There are internet sites such as Edmunds which will tell you what the MSRP, Invoice, lease rate and residual value percentage should be for any vehicle. Once you break down all of the figures, you can determine exactly what you are paying and what the dealer's actual gross profit is. Using some conservative assumptions, including 43,115 MSRP, 40,387 base cap cost, 1500 for added costs (acq fee 600, doc fee 300, lic fee 600), 63% residual, 7% sales tax, 7.2% finance rate, 36 mo term, I calculate a monthly payment including tax of 496. Fees in your state may vary and these are just estimates but if your payment of $475 includes sales tax it seems reasonable in my opinion based on the above.

 

[coopermine]

Your number are very close to what I came up with when playing with different numbers in online lease calculators.

 

[Mel]

Using some conservative assumptions, including 43,115 MSRP, 40,387 base cap cost, 1500 for added costs (acq fee 600, doc fee 300, lic fee 600), 63% residual, 7% sales tax, 7.2% finance rate, 36 mo term, I calculate a monthly payment including tax of 496. Fees in your state may vary and these are just estimates but if your payment of $475 includes sales tax it seems reasonable in my opinion based on the above.

Hi desertpar,
I also have never leased before but I am seriously considering doing so for an Enclave because of it's yet undetermined reliability. I have labored over several lease guide sites in preparation for my visit to the dealer tomorrow. When I use the numbers quoted above I get a completely different payment figure. I arrive at $659 per month including tax. What am I doing wrong? Is there a down payment included in the above scenario that I may have missed?
That $496 is within range for what I am willing lease however my figure of $659 is not. Hopefully the miscalculation is on my part . I am looking forward to tomorrow's test drive (not looking forward to the haggling).

Thanks...mel

 

[desertpar]

Sorry I didn't clarify. I ran the figures that Coopermine gave above which included a payment of 4950 due at signing. With all the other figures the same as in my posting above and with no cap reduction, the payment would be 659.30. Unfortunately, it looks like you calculated correctly if there is no down payment.

 

[jackiemd]

Using some conservative assumptions, including 43,115 MSRP, 40,387 base cap cost, 1500 for added costs (acq fee 600, doc fee 300, lic fee 600), 63% residual, 7% sales tax, 7.2% finance rate, 36 mo term, I calculate a monthly payment including tax of 496. Fees in your state may vary and these are just estimates but if your payment of $475 includes sales tax it seems reasonable in my opinion based on the above.

I am getting so confused :banghead: I used these numbers in the Edmunds calculator and I keep getting a lease price well over $500. When I try to run the numbers using my plan to lease for 48 months, 15K miles per year and about 2K down it gives me a number near or above 600/month. I can't even figure out how I once came up with $470! :banghead: What am I doing wrong here? ??? I can't justify paying $600/month for a car lease even if I can afford it! :angryfire: I hate to put more than 2,000 down because I think it's going to cost me some money to end my current lease. I'm getting frustrated because I've been thinking I can afford this and now I'm not sure, ugh!

 

[mss42]

I am getting so confused :banghead: I used these numbers in the Edmunds calculator and I keep getting a lease price well over $500. When I try to run the numbers using my plan to lease for 48 months, 15K miles per year and about 2K down it gives me a number near or above 600/month. I can't even figure out how I once came up with $470! :banghead: What am I doing wrong here? ??? I can't justify paying $600/month for a car lease even if I can afford it! :angryfire: I hate to put more than 2,000 down because I think it's going to cost me some money to end my current lease. I'm getting frustrated because I've been thinking I can afford this and now I'm not sure, ugh!

jackiemd, go to members list on this forum and send a message to shappy. he works for edmunds and he had posted on here several times that he can and will help members w/leasing options. good luck.

 

[coopermine]

I am getting so confused :banghead: I used these numbers in the Edmunds calculator and I keep getting a lease price well over $500. When I try to run the numbers using my plan to lease for 48 months, 15K miles per year and about 2K down it gives me a number near or above 600/month. I can't even figure out how I once came up with $470! :banghead: What am I doing wrong here? ??? I can't justify paying $600/month for a car lease even if I can afford it! :angryfire: I hate to put more than 2,000 down because I think it's going to cost me some money to end my current lease. I'm getting frustrated because I've been thinking I can afford this and now I'm not sure, ugh!

You are right, the calculator at edmunds is not giving me the right numbers. I used the calculator provided in the link that Admin posted under Buying and leasing section and it gave numbers within 1-2 dollars of what dealer has quoted me.

The 4950 down is paid in the form of a trade in. So there is some tax credit involve as well. Sorry if my original message misled you.