Originally Posted by xpartmgr
If you want to know how badly a car loses value, get the numbers on a lease. When a $24,000 Focus has a higher monthly lease payment than a $32,000 Altima, you know that not even Ford thinks the car will be worth much after 2-3 years. I just got the numbers to lease a 2013 Focus. With an MSPR of $28,007 lease payment was $383 per month for 3 years @ 12,000 miles. I ended up leasing a 2013 Kia Optima SXL with an MSRP of $35,652 and for 3 years @ 15,000 miles per year my payment is $370.01. So the focus has such a terrible residual value that the payments are more than a car that costs $7,500 more. Sorry but that is pathetic. I am so glad my 2012 is headed back to the dealer today for the buyback. I would have lost my ass had I have not won my lawsuit. Heck even the new Fusion was WAY more to lease than the Optima. So in the future if you really want to know resale value after 3 years get them to quote a lease and ask about the residual value. This is the amount they think the car will be worth after 3 years and the agreed upon miles. You might get a shock.
Not really. The residual value will always be considerably LOWER than what the car is actually "worth".... that is always the way it has been. Yes, obviously, the higher the residual, the more "They" (manufacturer) will think it will sell for in x amount of years.... BUT, they still want to make a healthy profit when they sell the vehicle after buy back. No one has a "crystal ball", but, rest assured, the manufacturer will always error on thier side, to make sure they don't loose a penny after the lease period.
These residuals have always been very volatile in nature, and go down AND up from month to month... I leased a Honda Accord a few years back, and it was near the end of the month, and the dealer said I should "jump" on it, since the new residuals were about to come out, and the payment would most likely go up in the new month, guess what, residuals actually went up a fair amount, so, payments dropped! For once, my procrastination paid off.... LOL