Author: G

Personal Property Tax on Leased Vehicles

Published by G

If you didn’t already know, the following states apply a “Personal Property Tax” on all leased vehicles:

Arkansas, Connecticut, Kentucky, Massachusetts, Missouri, North Carolina, Rhode Island, Texas (haha I always found it funny how when you flip the A and the E in Texas, you get Taxes, LOL), Virginia, West Virginia and Orleans Parish (Louisiana).

Another state that have crummy tax laws is Illinois. I hear they make you pay taxes on the ENTIRE value of the car, not just the depreciation. Talk about unfair.

I always found it hard to find a comprehensive list of states that show how they tax leases. I think it would be a great idea to perhaps start a list. Feel free to chime in with how your states taxes you for your lease.

I know in California, we get taxed for only the depreciation+financing part of our payment on a monthly basis.

Anyone else?

June 2008 Lease Rate for 08 Honda Accord EX-L

Published by G

2008 Honda Accord Sedan EX-L
36mo/12k – residual 60% – money factor .00200

2008 Honda Accord Coupe EX-L w/Nav
24mo/12k – residual 64% – money factor .00350
36mo/12k – residual 55% – money factor .00250
48mo/12k – residual 46% – money factor .00235

My Take: If had to pick between the TSX and the Accord, I’d go with the TSX. Longer warranty and sportier. In all honesty, the new Accord Sedans are ugly to me. They borrow too much from the BMW 5-series in terms of it’s styling, which is very unoriginal. The lease looks alright for the month. Residual value remains strong and the money factor is a tad lower than their standard rate (as seen on the coupe). If you need a fuel efficient car with room for 5 adults, this is your ride.

June 2008 Lease Rate for 08 Honda Accord Coupe EX-L V6

Published by G

Accord Coupe Ex-L V6 w/ Nav
36mo/12k – money factor .00250 – residual 57%

Accord Coupe Ex-L V6 w/o Nav
 36mo/12k – money factor .00250 – residual 55%

My Take: Unless you love integrated Navigation, I personally don’t think it’s worth leasing a car with one. Not only you pay for the “inflated costs” of having one installed into your car, but you also get nailed by a lower residual, making it that much more expensive. I suspect that part of the reason why a car with Navi has lower residual is because technology depreciates pretty fast. Think about it, your 3-yr old PC probably isn’t holding up too well right now compared to the new ones, right? I always laugh at people when they say that their cars are investments, specially the ones with Navi. LOL!

June 2008 Lease Rate for 08 BMW X3

Published by G

36mo/12k – residual 65% – money factor .00240
36mo/12k – residual 64% – money factor .00240
36mo/15k – residual 62% – money factor .00240

My Take: The X3’s money factor dropped .00010 for the month of June while the residual remained the same. This mean you’re getting a slightly lower monthly payment this month than last month. Not exactly cause for celebration. I would anticipate the residual to drop some next month, which means BMWFS may have to readjust their MF once against to keep the truck reasonably priced.

2009 Mazda6 In Da House!

Published by G

A couple months ago, I wrote a post regarding the Mazda6 and how it’s totally redesigned and looking more “mature”. And like all things “mature”, it put on some weight too. To compensate for that, Mazda bumped up the power on the engines. Very American of them! I can’t complain, I’m a power junkie. If Mazda wants to live up to their “zoom-zoom” slogan, they had better inject some of it on the 6, otherwise people will keep on driving Chevy Malibus, Honda Accords and Toyota Camrys.

You should really head over to Edmunds for the “test drive” article regarding the Mazda6. Don’t forget to check out the pics of the interior. WAY nicer than before. I can only imagine what the Mazdaspeed6 is going to be down the road…I bet the “drool-factor” will be very high. 😀

June 2008 Lease Rate for 08 Acura MDX

Published by G

MDX with Tech

36mo/12k – money factor .0018 – residual 55%
$1000 lease cash

Below is a very comprehensive list of numbers from Tarry of leasecompare.com.

2008 Acura MDX
24 Month – Residual 65% of MSRP – .00180 Base Rate
36 Month – Residual 55% of MSRP – .00180 Base Rate
48 Month – Residual 45% of MSRP – .00235 Base Rate
60 Month – Residual 35% of MSRP – .00245 Base Rate

2008 Acura MDX Sport
24 Month – Residual 60% of MSRP – .00180 Base Rate
36 Month – Residual 51% of MSRP – .00180 Base Rate
48 Month – Residual 41% of MSRP – .00235 Base Rate
60 Month – Residual 33% of MSRP – .00245 Base Rate

2008 Acura MDX Sport w/RES
24 Month – Residual 59% of MSRP – .00180 Base Rate
36 Month – Residual 49% of MSRP – .00180 Base Rate
48 Month – Residual 39% of MSRP – .00235 Base Rate
60 Month – Residual 33% of MSRP – .00245 Base Rate

2008 Acura MDX Technology
24 Month – Residual 62% of MSRP – .00180 Base Rate
36 Month – Residual 53% of MSRP – .00180 Base Rate
48 Month – Residual 43% of MSRP – .00235 Base Rate
60 Month – Residual 34% of MSRP – .00245 Base Rate

2008 Acura MDX Technology w/RES
24 Month – Residual 62% of MSRP – .00180 Base Rate
36 Month – Residual 51% of MSRP – .00180 Base Rate
48 Month – Residual 41% of MSRP – .00235 Base Rate
60 Month – Residual 34% of MSRP – .00245 Base Rate

Rates are based on 15k mile per year leases.

My Take: Right now is not a bad time to get into an Acura MDX with a relatively decent MF and fairly high residual value. The $1000 lease cash incentive should help you cover your drive-off costs. The word on the street is that the MDX can be had at around invoice (excluding the $1000 lease cash). I find that likely since 08 production should be nearing its end. If you need a techy, gas guzzling, AWD urban explorer that seats 7, the MDX should do the trick.

June 2008 Lease Rate 08 Saab 9-3

Published by G

Special Note: Normally I don’t bother with Saabs, but I know someone who was inquiring about it recently so I decided to look for the numbers and post them.

24mo/12k – residual 70% – money factor .00181 (4.35%)
27mo/12k – residual 69% – money factor .00181 (4.35%)

$1000 loyalty cash – Ironic since not many people drive Saabs to being with…why not give it to EVERYONE?

My Take: Better cars can be had for the same amount of money or less. I’ve never been a big fan of Saabs, so I don’t think I would ever lease one. But there are folks out there who like their American owned Swedish-engineered rides. Personally, I would rather have an A4 2.0T, Accord V6, Passat, TL or G35, which can be had for about the same or less. Hell, I’ll even take a Camry V6 SE.

AMG Performance Tour

Published by G

Yesterday I get this link from a friend of mine asking me if I wanted to go to the AMG Performance Tour. Not sure how he found out about this even, but it seems you get to test drive a C63. I tried registering, but it seems I’d be put on a waiting list since the even is full. If I manage to get the invite, I’m probably going to check it out and will post some pictures. For those who are not in the Los Angeles/Orange County area, check out the link below to see if you can register for your local event.

AMG PERFORMANCE TOUR