I've been checking out the lease info on my H3....I went to:

http://www.leaseguide.com/calc.htm

Pretty cool calculator.....so then I hit lease guide...it walks you through the steps of how to determine whether or not the dealership took you for a ride...with your lease.....

http://www.leaseguide.com/lease01.htm

Well it also explains the money factor deal......if you have a money factor of 5.0 = 12% interest rate. 4.6 = 11.04% interest rate and so on.....so how you figure this out is: 5.0 = .0050 X 2400 = 12%
so if the dealer said you got a 3.0 rate that would be 3.0 = .0030 X 2400 = 7.2% interest rate.

The site also explains how to figure out what your payment should be if they didn't up your money factor without you knowing......very interesting!!! Mine did.....

So everyone that has a lease, you might want to follow the steps at this site and see if your dealer screwed you to...!!!!!

 

Mine did a bit, but not too bad. I did all the math before we bought it.

That's why I told you your numbers didn't sound right unfortunately, even the ones that made sense to me

 

Too bad. And those guys wonder why car salesmen have a somewhat seedy reputation. It seems that everyone has an " I got screwed" story when buying or leasing a car.

 

I ended up buying the lease guide from this site....it gives a bunch of helpful info for leases....also let's you know what you can do to protect your interests and get out of a lease. I may have made a mistake in the earlier post. You can go to a section that allows you to enter the info from your lease and it will tell you what you interest rate is, and rate how well you did when you got your lease.....If anyone wants to know how they rated, just let me know and I'll run your numbers.....I will post my info tomorrow morning it's on the other computer......In all, I didn't do as bad as I thought....and my interest rate was only about 4.6%.....I'm not sure how I ended up with 12% the first time around......whew!!!! I didn't think I did all that bad......

 

Actually, the rate can differ and it may not be because of your dealer, the factory adjusts the rate for certain deals or deals that they want to do. The best thing to do before leasing is to find out the current manufacturer (for your vehicle) lease rate.

For instance, In December Hummer offered 4.0 lease rate... so I made sure when I got mine that I only paid 4.0 lease rate.

A lot of dealers will add 1 or 2 points to the rate. For example, if the dealer wanted to try and slip it past me, they could have given (offered) me a 5.0 rate and made the difference of the 4.0 to 5.0 on the back end of their deal. Many dealers do this.

If you look up the current invoice of a vehicle and you find out what the rate is... you should get the best deal.

From what I remember, you and I have close to the same vehicle and I pay about $100 less than you per month.

I got mine at the GM supplier price, minus the rebates and 4.0 lease rate.