Taking advantage of the lease buyout....but have tradein question.

[Dunebuggyjay]

HI guys,

Sorry this is so long...been trying to read all i can about buying a stinger, and getting the lease deal.

Been looking at getting a Stinger GT for the wife. We test drove one, and loved it.

We are looking at getting a yellow limited GT awd.

We are looking at taking advantage of the lease finance deal ($5000 on gt)...then do the buyout a few weeks later.

I have never leased a car before..so i have sone questions.

We have a tradin. 2012 acura mdx...with about 10,000 in equity in it.

How does this a trade in work when doing the lease buyout thing.

I know we can negotiate down the price of the car, and does the trade work the same as if we were financing it? IE the amount of tradin comes off the price of the car?

Say i can talk the dealer down on the GT to $38,000. After trade..... (Lets say i get $10,000 for my trade) total price of the car is $28000.

Can i then do a lease on the car...with the price of 28000? Minus the 5000 lease incentive to get me somewhere around 23k? Or is that not how it works?

I know tax, title, doc fees etc will also need to included too.

Am i understanding the lease correctly? Or does a trade in not work the same way when leasing?

Or do most of you sell your car private party..and then taking that money to bring down the total financed ...when you get a conventional loan from your bank to do the lease buyout?

Thanks for the help.

Jay

 

[Zac]

HI guys,

Sorry this is so long...been trying to read all i can about buying a stinger, and getting the lease deal.

Been looking at getting a Stinger GT for the wife. We test drove one, and loved it.

We are looking at getting a yellow limited GT awd.

We are looking at taking advantage of the lease finance deal ($5000 on gt)...then do the buyout a few weeks later.

I have never leased a car before..so i have sone questions.

We have a tradin. 2012 acura mdx...with about 10,000 in equity in it.

How does this a trade in work when doing the lease buyout thing.

I know we can negotiate down the price of the car, and does the trade work the same as if we were financing it? IE the amount of tradin comes off the price of the car?

Say i can talk the dealer down on the GT to $38,000. After trade..... (Lets say i get $10,000 for my trade) total price of the car is $28000.

Can i then do a lease on the car...with the price of 28000? Minus the 5000 lease incentive to get me somewhere around 23k? Or is that not how it works?

I know tax, title, doc fees etc will also need to included too.

Am i understanding the lease correctly? Or does a trade in not work the same way when leasing?

Or do most of you sell your car private party..and then taking that money to bring down the total financed ...when you get a conventional loan from your bank to do the lease buyout?

Thanks for the help.

Jay

Tax depends on your state. You can check your DMV's site or ask the dealer. Either way, with the 5k lease cash, it's still a better deal if you're buying it out vs a purchase. If you don't get the tax reduction, you'd likely be ahead selling private party if you're okay w the hassle.

What you have above is essentially correct otherwise excluding fees.

 

[NicktheQuick]

And get the price of the Stinger down as low as possible before even mentioning the Trade-in if possible! Then they will deduct that off the total price. Good luck!!