New to leasing here can someone take a look at these numbers and give me some advice as the monthly payment seems high compared to others that I have seen on these boards.

MSRP: $ 43,180
Purchase Price: $ 41,500
Terms: 39 months
Money Factor: .00070
Residual: 55% of the original MSRP
Mileage: 12,000
Monthly Payment: $ 570


They say I can put down 7 security deposits to lower the MF to .00010 and bring down the monthly payment to $ 520.

I can work on the purchase price and get that down as this was their first offer to me. Would getting the price down $1500 more make that much more of a difference? What I am not sure about is the other values. Are these normal MFs and residual?

I can look at other loan terms if that helps any, but they seemed to want to do 39 months. It doesn't really matter to me if its 24, 36, 39 months.

Thanks!

 

That monthly price is VERY high.

 

You can do a whole lot better. That purchase price is way too high for a 2012. If you have good credit, the dealer does not determine the money factor or residual. Look up the price of the car on Truecar.com. Keep in mind the price you see on Truecar does not include options like spoiler, illuminated kick plates etc. 6MT comes mostly loaded so the price should be similar. Once you have a purchase price agreed upon, then ask them for the numbers for 24, 36 and 39 month leases. Typically you will also pay the first month payment plus license, acquisition fee, title up front. Rolling them into the lease is possible, but just increases your payment. Good luck.

 

If you are not planning on buying the car, after the lease is over, try to roll all the options into the residual. This will lower your monthly payment.

Also, if you are in the military or a member of USAA bank. Lease thru them, since they are considered a government institution, you are not charged tax during the lease. SAVINGS, SAVINGS.

 

Thanks for the feedback. Here is my new quote.

Purchase Price: 39,600
Monthly payment: $466 includes taxes
Due at signing: $3131 includes first month payment, fee of $78 and security deposits of $2544

We have only negotiated these numbers at this point. I have very good credit so could this change upon securing the lease for the better?

 

I leased my 2011 6MT sedan for $450 a month with nothing due at signing. I think the car was priced at 36,000 and its 39 month with 15k miles

 

They are already assuming you qualify for top teir financing.

 

they have SMOKIN' deals on 18 month leases right now (unless they stopped them for Oct. they were killer in Sept. too lazy to look)