Monthly Round-Up: July 2010

Welcome to the “Monthly Round-Up”!!! Starting this month, I will begin examining the Top Ten Deals of the month based on the information I have collected throughout the month. Since this segment is meant for those who enjoy cutting deals last minute (in order to get in on those last-minute deals), expect these series to be posted sometime during the last week of each month.

But before I kick start this month’s Round-Up, here are some ground rules:

  1. Participating vehicles will be based on the lease rates gathered on this website throughout the corresponding month (and limited to a price range of $20,000 to $50,000 range). I encourage you to share the information you’ve gathered during your research so we can make The Round-Up more robust down the road.
  2. Only 36-month/15k lease terms will be examined.
  3. A $1650 drive-off fee will be assumed for all cars. Remember, this is ONLY an estimate, the drive-off could be lower or higher depending on the car.
  4. Estimates will be based on the Southern California region, so your numbers may vary.
  5. All estimates assume you qualify for the base rate.
  6. Sales taxes not included in order to keep things simple. Please refer to “Understanding Sales Tax” to learn how taxes affect your monthly payments.
  7. The rating system used is based on my Lease Calculator, which assumes that 1.00 or a monthly payment of 1% off the MSRP is a GREAT lease deal. Anything lower than 1.00 is even better.

Before we begin, I’d like to ask that you consider using Yahoo! Autos to obtain your free online quotes. Since they are an affiliate, each quote request helps pay for this website’s operating costs. Thank you for your support!!!

So without further ado, lets get this list rolling!!

2010 Infiniti G37 Sport Coupe
36-month | 15k miles | residual 63% | .00131 base money factor

MSRP $44,595
Sale Price $39,500
Monthly $405 + tax

(0.91) This month’s biggest winner is the G37 Sport Coupe. I mean, this deal simply rocks your socks off! In order to get in on this, you need to qualify for the Conquest or Loyalty cash that’s available on both the Sedan and the Coupe. Since the residuals and money factors are really strong this month, I think we can all agree that this ride gives you the best bang for the buck.

2010 Nissan Maxima SV
36-month | 15k miles | residual 52% | .00047 base money factor

MSRP $39,230
Sale Price $32,746
Monthly $367 + tax

(0.94) There may be some discrepancies with this estimate due to the fact that I included almost all of the incentives going on right now. This shouldn’t change the fact that the Maxima is still a fantastic lease deal right now.  You will need to contact your local dealer and have him/her clarify which rebates are applicable. Regardless, I think that there are enough rebates available so you will definitely get a decent deal out of this. Don’t forget the 0% financing that’s also available should you choose to buy instead.

2010 Infiniti G37 Sport Sedan
36-month | 15k miles | residual 59% | .00107 base money factor

MSRP $40,065
Sale Price $35,300
Monthly $387 + tax

(0.97) A bit higher than the Coupe, but still a very good deal. Again, this deal is dependent on the cash rebate and your ability to secure a low sale price. The rebates will be around until September, but there is no guarantee that the residuals won’t drop next month.

2010 Subaru Impreza Outback Sport
36-month | 15k miles | residual 56% | .00106 base money factor

MSRP $22,690
Sale Price $19,500
Monthly $222 + tax

(0.98) Expect your payments to be more since the model I picked is bare bones. Nevertheless, this car has an excellent residual and money factor so if you negotiate a competitive sale price, you will drive off with a great car at a great price.

2010 Honda Accord Sedan 4-cylinder EX-L
36-month | 15k miles | residual 54% | .00121 base money factor

MSRP $27,580
Sale Price $22,800
Monthly $279 + tax

(1.01) With or without Navi, the Accord Sedan in both the 4 cyl and V6 trim are a solid deal this month. Keep in mind that Honda’s doing this promo were you pay nothing up front (gets rolled into payments) and they lower your MF, so your payment will probably be a bit higher that what I just estimated, but still a good deal.

2010 Acura TSX
36-month | 15k miles | residual 58% | .00100 base money factor

MSRP $30170
Sale Price $27,500
Monthly $322 + tax

(1.07) There is $750 dealer cash that is applicable to leases so be sure to take advantage of that during your negotiations. Since production of the 2010s should be pretty much over, availability may be spotty. Still, one of the finest entry level sedans out there with one of the best lease programs in the country. Can’t go wrong with that.

2011 Hyundai Sonata Limited
36-month | 15k miles | residual 56% | .00050 base money factor

MSRP $28,200
Sale Price $26,000
Monthly $304 + tax

(1.08) I would personally choose the GLS due to it’s lower price-point and monthly payments. However, if you can fit slightly higher payments into your budget, go with the better equipped Limited trim because it’s still a great deal.

2010 Acura TL

36-month | 15k miles | residual 55% | .00097 base money factor

MSRP $35,965
Sale Price $31,900
Monthly $386 + tax

(1.08) The cheapest of the TL line up also boasts the best residual value. There is $1750 dealer cash that is applicable to leases. Folks in the Midwest may be out of luck on the low money factor. Remember that Acura is currently offering a “special” MF that you can only get if you opt for the $0 drive-off deal (this will make your monthly payments a bit higher than my estimate).

2010 Audi A3 2.0T Premium
36-month | 15k miles | residual 50% | .00012 base money factor

MSRP $30,715
Sale Price $27,200
Monthly $332 + tax

(1.08) This ride barely makes the cut because it’s got the highest residual and lowest money factor of all A3 2.0Ts. In most cases, Audi does not offer great lease deals because their residual values are very low and they aren’t to be heavy discounters. Despite this, I think you can still walk away with an excellent deal on an A3 if you can negotiate a low sale price before the month ends.

2010 Volkswagen CC DSG Sport
36-month | 15k miles | residual 47% | .00021 base money factor

(1.16) I know, I know. What’s a car with just a “Good” rating doing on this list? Well, this is my “Sentimental” choice. There are many factors that simply can’t be measured on a lease calculator. For starters, VW offers a three year maintenance program when most brands don’t. Yes, BMW has been offering it for years and their 1-series are probably just as deserving to be on this list. Unfortunately, BMW does not offer 0% financing for up to 60 months on their vehicles, VW does.

Parting Shots

As we wrap up the Monthly Round-Up, I’d like to add that there are many cars listed on this website that get a “Good” lease rating as well, so be sure to do some research on those. I would also like to point out that Toyota would probably dominate much of this list had I bothered to post any of their lease numbers (specially the Camry and Prius). But when it’s all said and done, Toyota is still reeling from some safety issues and bad PR, so I don’t want to openly recommend them at the moment. Of course, that will change as time goes by. Lastly, keep an eye out on the new Chevy Volt and the Nissan Leaf. Both cars will get a lot of government and state rebates which will bring down the cost of their leases well below what was recently advertised, making them fantastic leases.

Hopefully, you have enjoyed the first edition of the Monthly Round-Up. Feel free to chime in with your opinions on what you think this month’s Top Ten should be.

9 thoughts on “Monthly Round-Up: July 2010

  1. Here’s the deal I just closed last week (thanks mostly to your website!)

    2010 Honda Accord EX-L V6 w/ Nav
    36-month | 12k miles | residual 52% | .00121 base money factor

    MSRP: $31,855
    Sale Price: $27,242
    Gross Cap Cost: $27,242 + $595 Acquisition Fee = $27,837
    Monthly: $387 including tax (5.6% sales tax Milwaukee, WI)

    Due at signing: $703, which includes $387 (1st month’s payment) + $316 ($7 tax, $95 License, $69 Title, $125 dealer service fee, $20 wheel tax)

    Lease Rating = 1.18 (Good = 1.10 – 1.25)

    Thoughts? Pay the acquisition fee upfront to slightly lower monthly payment but more out of pocket. Can this fee be waived? Same with dealer service fee and wheel tax — negotiable? I think now I could have had them sweeten the deal with Honda’s protection package (all-season floor mats, cargo tray, wheel locks). But it’s a lease – who cares. Honda offers a $1500 excessive wear and use policy, no disposition fees and gap insurance.

    Keep in mind, this was my first lease ever. Thanks for all the help.

    • I would normally recommend paying the acquisition and 1st month payment upfront. the only exception is when your money factor is relatively low and you can afford to roll in your fees and do a 0$ drive-off deal. As far as the fees are concerned, any fee that is state imposed, you can’t waive. Any fee that is bank imposed isn’t negotiable either. Usually, the only fee that can be negotiated is the dealer documentation fee. However, nowadays, dealers aren’t as willing to waive it. I think you did fairly well on your deal, you got a nice discount off the MSRP. I too love Honda/Acura’s lease programs because they are the best in the business. The damage waiver, the credit you get for being under miles (which can be passed on to your next Honda/Acura lease), no disposition, etc…you just can’t go wrong.

  2. Hey G,

    I love starting off with my messages to you by much praise and appreciation for your website and services – you offer fabulous, free informaiton for the consumer. Not only that, you respond to questions and requests with such paramount detail, honesty, and intelligence. Thank you. Now here’s the deal I closed last night, 7/31/2010. I walked out with a g37 in an hour and a half.

    2010 G37 sport coupe fully loaded with premium package. Graphite shadow exterior and black interior with wood trim…soo sick…

    36 month lease with 15K miles

    MSRP:43,655
    Negotiated Sale: 39,597
    Residual: 60% (not 63% b/c of higher miles for some reason – they wouldn’t negociate this)
    MF: .00131
    dealer cash: 1,000
    Total Inception Fees: 1,080(dealer doc 45 + acquisition 595 + first month pymnt)

    Monthly payment w/out tax: 449.14 (w/ tax 8.75% 488.44)

    Deal Rating: 1.010288

    Great deal but not a homer run .91 deal rate. I’m not entirely sure if your residual aobve was correct. Thanks again for all the advice, u rock!! I’m 24 and this was my first car purchase ever. I had a honda civic family hand down for 8 years!!! SUCK A SICK UPGRADE

    • hey Sean! thanks for the props! I think you managed to pull off a pretty solid deal regardless. Now regarding the lower residual you got. Do you have a G37 Journey Sport Coupe OR a G37 Sport Coupe? There is a difference even though they both have the “S” market. One is an automatic and the other is manual. If you have the manual, it should be 63%. If you have the automatic, then that’s 60%. Anyway, 1.01 rating since you are getting a lot of car for the money. Upgrading from a Civic is most certainly a “Sick Upgrade”! Just a random fact for you, did you know that Infiniti was originally expecting the G37s to be leased/bought by folks in their 40s…but the majority of their customers are actually in their 20s. Insane, isn’t it? LOL. Talk about bad market research. Anyway, congrats on the car. Don’t forget to snap some pics and email them to me so I can post it on the Wall!

  3. G! You nailed it right on; I purchased a G37 Journey Sport Automatic! Unfortunately I haven’t driven a manual car for longer than 10 minutes so I decided to stay in my comfort zone. The paddle shifter option does the trick for me.

    I had no idea they targeted G37s for 40 year olds, however the interior with wood trim does have more of an older adult feel to it but I think it looks classy for my age.

    Another point to make, the interior of the G37 looks so much better than a 335 and it’s also about 10 grand less with the same amount of power without a fuel injection problem too.

    Oh yah, as one of the managers was printing off the papers she couldn’t believe the negotiated price – 1K under their invoice which made me feel great!!! Not only was I the last customer of the month too but I showed up to the dealership 10 minutes after closing. Keep in mind, I sent a lease proposal over to one of the salesman earlier that day.

    My original negotiated price was $38K but they came back with $39,797. I tried to negotiate the price to $39K but they wouldn’t do it. Finally, they dropped it to $39,575. What would you have done in this situation? I wonder what their reaction would have been if I just walked away acting like I was going to leave. Do you think they would have dropped it?

    I’ll have picks up soon!!! Thanks again!!!

    • Haahaa I would have walked away at $39k, specially since you went in so late (which was a great move by the way) and it was month end (really good move as well). At a time like that, I think you have the upper hand. I mean, worst case scenario, you come back the next day and try again, right? LOL. Of course there is no guarantee they would budge, so if you felt like the deal was fair, then it’s all good.

  4. Hey G

    Not sure if I asked this before but have you ever used zag.com? And how do you feel about it? It appears to be a service that has participating dealers that honor invoice(or near invoice) pricing. I figure the service could eliminate the sales price haggling portion of the deal and you could simply concentrate on the lease rates.

    • I have heard of zag.com and visited affiliated sites (amex and overstock). I have not used th service, but I do find it interesting. I am somewhat suspicious about whether the deal is really the best one I can get, but this service would work great for those who don’t enjoy the haggling part of leasing/buying a car. Invoice pricing or near invoice pricing isn’t always the lower price you can get on a car. Nowadays, it’s usually below invoice. Thing is, invoice is dealer cost as they’d like you to believe, so depending on the economic times, invoice may or may not be a “great deal”.

  5. G
    Thanks for the response. I guess you recommend edmunds to find rebates that would make these vehicles under invoice (preferably BMW)? Unless you know of others.

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