Residuals and MF's for 05's?
10-11-2004, 05:26 PM
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Residuals and MF's for 05's?
I have had several quotes from different dealers. Looking at the 39 or 42 month lease. Assuming top credit does anyone have this information? Any help would be appreciated.
10-11-2004, 08:48 PM
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Honda's money factor for people with good credit is .00205, "205", "2.05, or anything like that. It is the equivalent of 4.92% interest.
I'd figure probably in the area of 59%-63% of MSRP for the residual. They use 55% for 48 months so I'm guestimating.
A good payment would be about $404 for a 42 month or $397 for a 39 month lease, without sales tax. This assumes a total cost of $31000 (sales tax is added to the payment, not the car cost). The residuals could be off a couple % (in their favor) as lessors are now depreciating their cars faster because they've been losing their shirts leasing cars.
If they quote anything significantly over $400 plus tax, they are screwing you. Don't be surprised if the first offer is around $500. Negotiate the purchase price and money factor, NOT the payment.
I'd figure probably in the area of 59%-63% of MSRP for the residual. They use 55% for 48 months so I'm guestimating.
A good payment would be about $404 for a 42 month or $397 for a 39 month lease, without sales tax. This assumes a total cost of $31000 (sales tax is added to the payment, not the car cost). The residuals could be off a couple % (in their favor) as lessors are now depreciating their cars faster because they've been losing their shirts leasing cars.
If they quote anything significantly over $400 plus tax, they are screwing you. Don't be surprised if the first offer is around $500. Negotiate the purchase price and money factor, NOT the payment.
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