BILZ Z

For those who are considering leasing, this is an important number. In a previous thread somewhere it was implied that after the Aug 1st meeting the residual values would be known. Has anyone heard anything regarding this. I'm paying cash anyway, but for those leasing it would be an important #.

ballz

In Canada I know the residual is going to be 53%

bobbyz

iTrader: (1)

How do you knwo this? My dealer in Ontario said he does not know yet

mbeguy

Is that for a 3 year lease? And any idea what the lease rate or money factor would be?

MBEGuy

z texas

If this is true you would probably be better off buying the car. There will probably only be a $100 difference in the payment (assuming this is a 36 month lease)compared to a 60 month loan and you'll actually own it at the end instead.

ballz

I spoke to my dealer the other day and he said those are the figures that he received from Nissan. I buying so it doesn't make a difference to me, but I'm just passing on info that I heard.

vanstorm16

I can confirm what ballz said about the Canadian residual being 53%. Not sure what happens September 1st though. I'm looking at leasing my Z when I take delivery on it this fall.

Hey ballz, good to see another Vancouver Z-person on here. Which model did you order? I went with the performance in Silverstone. You expecting delivery right away?

ballz

Hopefully there aren't too many like us here in Vancouver so we can have these awesome machines to ourselves, eh (hehe). I was talking to my dealer and he said there is only a hand full in all of the lower mainland. I ordered the Black performance model, but I want to change my mags and get the ray's alloy mag. My delivery aint expected til late august early sept so I still got a ways to go too. Lucky we have a mild winter..........

bobbyz

iTrader: (1)

BallZ et all.
Do you know what the residual is for a 4 year lease? Also, do you know the rate?

ballz

Sorry man, didnt get into the details with the guy cause I wasn't considering lease.

vanstorm16

For a 4 year lease, the residual is 53%. That is exactly what my dealer and I were talking about last time we spoke.

ballz, there are a few people ahead of me at my dealership for the Z. I'm not expecting mine until after October. I swear, with all this talk about VIN's and deliveries and sightings, this wait is going to kill me!

Trust me, we are going to turn MANY heads driving the Z.

nizl

Don't get a 4-year lease.

I'm very pro-leasing myself, and will very likely be leasing the Z, but everyone agrees that you lose way too much on a 4-year or longer.

36-mo is the ideal "breakeven" point where you get the max benefits out of leasing w/o paying that much more than purchasing (long-term).

vanstorm16

Its true, you have to be careful on the timeframe of a lease. The longer they go, the less benefit to the buyer.

Myself, I'm still weighing the lease vs purchase options myself. If you're considering a lease, I'd suggest doing some research online. There's plenty of information out there that will help people understand just how leasing works and the pros and cons of it.

bobbyz

iTrader: (1)

True a 3 year may be better for the buyer usually, but I will most likely continue to lease after this car and a 4 year lease is cheaper per month so why not milk it as I dont see myself being sick of the car after 3 years.

vanstorm16

Just run some sample calculations of your options and decide which one works best for you. Can't go wrong being informed right?

One thing that I found that might be handy was a website breaking down how a lease is calculated. I could then go and create my own spreadsheet that calculated the lease payments. And you can plug in different numbers to see what results you get. The reason for this is to make sure and verify the numbers that your dealer gives you. In my sample calculations, they dealer was about $30 higher than my own.

My dealer said that if I do lease, its in my best interest not to put ANY money down to lower the monthly payments. Does anyone have some insight to add to this?

2003z

iTrader: (7)

Most leases come with gap insurance, that covers the difference between the value of the car and whats owed on it in the event it becomes totalled. If you put your money down to lower payments, then wreck the car a few months later, you will pretty much just be out of that money, or at least not get all of it back.

roberto350z

hello? Somebody has to know the answer?!?!

raceboy

Absolutely true. If you are going to lease I would try to put zero down besides your deposit. The only thing you are doing by putting money down on a lease is buying down your payment. You aren't saving any money at all.

Someone said here that if you lease for 36 months and your payment is $100 a month less than you are better off buying. I have found the opposite to be true. It is usually much better to lease the car even if you plan on buying at the end of 36 months. Let's examine: with $1000 down on a $35,000 (plus tax) model you will still owe roughly $16400 at the end of 36 months or about 47%. If the payment on a lease is $100 less per month and the residual is 55% the residual would be $19250 but you still have $3600 in your pocet for a net savings of $750 even if you paid the full residual, but that rarely happens. It's usually pretty easy to negotiate $1-$2K off so that is pure savings over a buy. It will probably take 3 years for you to be at the break even point on the loan (you owe the same ammount you can sell it for) so up until 3 years the lease is the way to go for sure because unlike the previous poster mentioned, you won't actually have any equity in the car until then anyway. The total 5 year cost on the buy is $44,500 with P and I so say at the end of 3 years, you buy at the full residual and finance the balance for 2 years. You would pay tax on the $19250 so financing say $21,250@6.5% for 3 years = $22008 + $22000(36 lease payments)=$44000. This is close to identical to the buy cost for 5 years, but I have never failed to negotiate down a residual. Basically the leasing company is taking all the risk guessing at the residual. We'll see.

NissaNZ

What is residual value?