Lease Deal Persistence Question

[Ron]

People have to stop buying lease payments and start buying a car. A lease is just a form of financing. Buying a car is actually three transactions: (1) sale of trade-in; (2) purchase of a new car; and (3) financing the purchase. Negotiate each separately and you will be able to get the best deal. Allow the dealer to roll all three together, and you have no idea whats going on and will not get the best deal. Simple as that.

I think most of us are talking about leasing not buying.
If buying then you are correct.
Button line is either way you end up with a vehicle.

 

[Kosh]

People have to stop buying lease payments and start buying a car. A lease is just a form of financing. Buying a car is actually three transactions: (1) sale of trade-in; (2) purchase of a new car; and (3) financing the purchase. Negotiate each separately and you will be able to get the best deal. Allow the dealer to roll all three together, and you have no idea whats going on and will not get the best deal. Simple as that.

Solid Logic there

I don't have a trade just a lease with 3 months left ... not interested in overlapping 2 cars for 3 months so waiting ... (was hoping kia would have some sorta competitor pull ahead or somethin, don't want to eat $1500 extra)

... I always negotiate lease on purchase price + total of all payments ... depending on if i want to keep it or lease it and return it.

Ive gotten offered a pretty solid deal ... and am afraid I wont have it down the road, but will see

 

[Litemup]

People have to stop buying lease payments and start buying a car. A lease is just a form of financing. Buying a car is actually three transactions: (1) sale of trade-in; (2) purchase of a new car; and (3) financing the purchase. Negotiate each separately and you will be able to get the best deal. Allow the dealer to roll all three together, and you have no idea whats going on and will not get the best deal. Simple as that.

I think it depends on the lease deal and how it works for each person. I like to lease as I like a new car every three years and never any maintenance issues.
My current lease is a 2015 Lexus IS 350 F Sport. No money down only Security Deposits which will be returned at lease end.
3 years 15k (45k) for $458.00
I always negotiate the price of the car first. In this case I was able to get over 10% off MSRP ($5000).
I think the residual was 61% and my Money Factor with the SD’s ended up at .25%

 

[Ucinn]

And you know your doing it right when the Salesperson/manager starts getting upset. I always do my trade in first and negotiate that before even talking about the price of the car. Then I talk car, once I get that price where I want it, then they always say congrats and I stop them and say not yet, I want this percentage for this many months..if that goes through then we have a deal. The wife loves and hates me for this .. loves because I save money, hates because it takes 4 to 5 hours to buy a car. She nor any of my family will buy a car now without taking me with them. I used to sell cars back in the early 90's and the game hasn't changed at all.

 

[Litemup]

And you know your doing it right when the Salesperson/manager starts getting upset. I always do my trade in first and negotiate that before even talking about the price of the car. Then I talk car, once I get that price where I want it, then they always say congrats and I stop them and say not yet, I want this percentage for this many months..if that goes through then we have a deal. The wife loves and hates me for this .. loves because I save money, hates because it takes 4 to 5 hours to buy a car. She nor any of my family will buy a car now without taking me with them. I used to sell cars back in the early 90's and the game hasn't changed at all.

Do your homework before you start negotiating. I can’t belive how many people go into leasing/buying blind.
Edmonds has a great site on Leasing Info for about all brands.

 

[Mach_Tuck]

Do your homework before you start negotiating. I can’t belive how many people go into leasing/buying blind.
Edmonds has a great site on Leasing Info for about all brands.

Can't bold this enough. It's all about being informed. Know exactly how the numbers work and understand what you are signing b fore you sign it.

I hand calc'd my lease/buyout and was wishing a few hundred when all said and done. If you understand how all the numbers work then they can't hide stuff.

 

[Kosh]

Dealer i went to today was willing to match my 579 deal i got offered not the 560's one I did ... wondering if i should just bite the bullet this month ... (only 500 extra down after 1st month's payment)

Im almost under 1000 miles from my milage limit on my Infiniti

is this a solid deal on a GT2 or do you think I can do better?

 

[Mach_Tuck]

Unless you post actual numbers it's hard to tell.
Need the following.
Gross cap cost
Money down (bad idea but need to know)
Adjusted cap cost
Money factor
Residual
Tax rate

 

[Kosh]

Didn't give me a Gross Cap Cost but its a Stinger GT2 AWD so 52,XXX MSRP
first month + 500 down (so thats total at signing)
Money factor 0.00210 (Assuming approval ... im over a 730 so should be fine)
52% Residual
NJ tax rate 6.625% I think

579 a month 1079 at signing ...

I think I could do better tho slightly as another dealer offered me 560 somethin same terms (but dont want to go out to PA if i dont have to) (this dealer also indicated they could do better possibly if i were putting money down on the deal today)

 

[Berzerker]

Didn't give me a Gross Cap Cost but its a Stinger GT2 AWD so 52,XXX MSRP
first month + 500 down (so thats total at signing)
Money factor 0.00210 (Assuming approval ... im over a 730 so should be fine)
52% Residual
NJ tax rate 6.625% I think

579 a month 1079 at signing ...

I think I could do better tho slightly as another dealer offered me 560 somethin same terms (but dont want to go out to PA if i dont have to) (this dealer also indicated they could do better possibly if i were putting money down on the deal today)

Something's missing. That monthly payment should be way higher than $579/mo, even with $1100 down.

At a 52% residual and 5.04% interest rate, I'm not even including tax, a 36 month term is >$800/mo. There's something either missing from your numbers or the calculations are pretty far off.

 

[Kosh]

I got the quote in writing ... so your saying if its actually as it was said to me I should take it?
Other dealer who gave me similar quote that this one matched had the sale price at 47700 and then take the 7000 lease cash
Dont think it counts as 1100 down does it It's only 500 down, because monthly payment is separate from the down and that 1079/1060 is including first month

 

[Mach_Tuck]

Yeah. Something is off. Gross cap cost IS the agreed purchase price. Sorry to say it but quote don't mean anything. Get the numbers on the lease deal and pm me a pic of the front page sections. As berserker said it should be closer to $800 UNLESS putting a chunk of cash down.

Here is a quick and dirty using the numbers you gave.


52000 - 7000 = 45000 adjust cap cost
45000 - 27000 (residual)= 18000/36 = 500 depreciation/month payment
(45000 + 27000) * 0.00210 = 151/month rent
500 + 151 = 651 base * 1.06625 = $694 total monthly

Now, this doesn't account for lease fee, doc fee, other shit dealer fees or title and reg. roll all that up and $800+ is my guess

Sorry dude. Even at the numbers you gave its no where near 579. Math don't lie, punk salesman do.

 

[Kosh]

Yeah. Something is off. Gross cap cost IS the agreed purchase price. Sorry to say it but quote don't mean anything. Get the numbers on the lease deal and pm me a pic of the front page sections. As berserker said it should be closer to $800 UNLESS putting a chunk of cash down.

Here is a quick and dirty using the numbers you gave.


52000 - 7000 = 45000 adjust cap cost
45000 - 27000 (residual)= 18000/36 = 500 depreciation/month payment
(45000 + 27000) * 0.00210 = 151/month rent
500 + 151 = 651 base * 1.06625 = $694 total monthly

Now, this doesn't account for lease fee, doc fee, other shit dealer fees or title and reg. roll all that up and $800+ is my guess

Sorry dude. Even at the numbers you gave its no where near 579. Math don't lie, punk salesman do.

My bad do it
52650 msrp
47500 sale price
-7000 lease cash
So 40500 would be cap counted like that

 

[Kosh]

Ended up worrying about whether the deal would last pulled the trigger

560 a month 1060 at signing gt2 awd
Taxes title fees all in 36 months 12k miles
52350 sticker
Think I coulda done better but don’t have that much time to squeeze out another couple dollars

 

[NYLAWBIZ]

Ended up worrying about whether the deal would last pulled the trigger

560 a month 1060 at signing gt2 awd
Taxes title fees all in 36 months 12k miles
52350 sticker
Think I coulda done better but don’t have that much time to squeeze out another couple dollars

Congrats! Now the fun starts

 

[Kosh]

Congrats! Now the fun starts

Thx I appreciate the tip before