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Current Best New Car Deals

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  • jipsterjipster Posts: 5,345
    $6,000-$7,000 off MSRP on brand new 2005 Mazda MPV's...the gold medal winner of minivans. ;)
  • jprocjproc Posts: 135
    I was in the market for a car for my eldest daughter in college just 2 weeks ago.Thought it might make sense to lease a new car rather than buy used.
    Anyway quotes I was getting for a Chevy Aveo were 305 a month for 3yr 12k a yr.Chevy cobalt 287-ford escape 290ish etc.
    Ugh .Decided used was the way to go.Last night saw the Cobalt advertised on TV for about half the 287 I was quoted (I don't remember exact number).

    Pretty amazing difference in 2 weeks.
  • asafonovasafonov Posts: 373
    The twofold difference (drop) in the lease monthly payment on the same vehicle is most likely explained by the requirement to put down a substantial amount of cash (or trade equity) - never or rarely a good idea on a lease.

    All the vehicles you considered for a lease have below average (Escape) to poor (Aveo) resale values - why not look at something that does not lose 50-60% of its value in 2 years? I remember seeing a "Lease Questions" forum here...
  • jlawrence01jlawrence01 Posts: 1,828
    Ugh .Decided used was the way to go.Last night saw the Cobalt advertised on TV for about half the 287 I was quoted (I don't remember exact number).

    When you see huge lease payment differences for the SAME vehicle, it generally means that you are **not** comparing apples to apples.

    Probably, the mileage that you are paying is different, there is a large downpayment difference, or maybe a different level of trim.

    The problem with consumer leasing is that most comsumers do NOT understand what they are signing up for.
  • tifightertifighter WAPosts: 1,379
    I have a question as one who has never leased.

    I have read the Edmunds info that says that leases are negotiable, just like when you buy a car. Sounds good, and I understand the idea behind not using a big down payment on a lease.

    But you will often see these factory advertised lease offers that will be say $2k down and $350/month or so. If it is a 'factory' offer, is the lease still negotiable? That lease must be based on MSRP? I'd like to avoid the bigger down payment on a lease for the reasons Edmunds advises; can the 'purchase price' of the car be negotiated down at all to make up for the smaller down? MF and residuals fixed? This is a new game for me...

    15 Leaf / 08 RDX

  • bretfrazbretfraz Posts: 2,021
    But you will often see these factory advertised lease offers that will be say $2k down and $350/month or so. If it is a 'factory' offer, is the lease still negotiable? That lease must be based on MSRP? I'd like to avoid the bigger down payment on a lease for the reasons Edmunds advises; can the 'purchase price' of the car be negotiated down at all to make up for the smaller down? MF and residuals fixed? This is a new game for me...

    The cap cost is probably still negotiable. Like with a purchase, the law of supply and demand comes into play. If dealers are dealing on a particular model, you can deal yourself a good deal regardless of what price the ad uses to get to that payment. I've done this every time I've leased.

    Gotta read and *understand* the fine print on leases. Most, not all, advertised leases are based on MSRP but the mouse type will tell you for sure. Once you have the MF and residual, you can calculate your payment using any purchase price and down payment.

    For a quick mental exercise, you can determine the monthly payment sans required down payment by dividing the down payment by the lease term. For example, if the lease requires a $2000 down payment, and its for 36 months, the monthly payment increase is about $55 if you do not put down the 2 grand. It's not perfectly accurate but it does allow you to get your head around the numbers as they fly across the screen.
  • Residuals and money factors are fixed (actually the dealer can mark up the MF if they want but they can't lower it past the published figure) but the actual "price" (cap cost" of the car is as negotiable as always. A few years back I leased an Infiniti M45. At the time there was $8000 dealer marketing incentive on it and I got the cap cost down from $47500 to $37500 without much trouble. Over 39 months, the residual was 48% but the residual is always based on the MSRP, not the negotiated cap cost. With the residual being $22800 (48% of $47500), the depreciation I was financing was only $14700. At that time the Infiniti money factor was next to nothing too so I ended up with an almost $50000 car for $320 a month.
    Also, I recently leased a Toyota Tundra that was a factory lease offer. That lease was based on a price of invoice plus $500 with a very low MF to.
  • I'm trying to find the best dealership to buy a Honda Pilot as close to Glenwood Springs, Colorado. There aren't enough dealers to get good pricing.Does anyone have a suggestion and what pricing might be for a EXL4wd w/nav.Help...
  • Kirstie_HKirstie_H Posts: 10,896
    Try this discussion:
    Honda Pilot: Prices Paid & Buying Experience
    where members are sharing their purchasing experiences.

    MODERATOR
    Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • Mr_ShiftrightMr_Shiftright CaliforniaPosts: 45,116
    bretfraz, you need to update your e-mail address. Please send it to me.

    MODERATOR --Need help with anything? Click on my name!

  • qbrozenqbrozen Posts: 17,468
    anything new this month?

    I'm thinking the Accord lease deal is the best for the money at the moment, but I'm certainly willing to listen to other suggestions.

    I see Mazda has 2-year lease deals on alot of vehicles right now. Unfortunately, the Mazda3 wagon ain't one of 'em. :(

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • theflushtheflush Posts: 100
    Does anyone know what kind of lease deals are available on the last 05 MPVs? Some have posted good purchase prices on 05s on the prices paid forum, but nothing has been mentioned about leases. One poster mentioned getting an LX+ that with other options stickered for $26,415 for only $18,266, which is over $8K off sticker. What kind of lease deal can be had on a similar vehicle?

    Thanks.
  • qbrozenqbrozen Posts: 17,468
    That's a good question that will probably go unanswered.

    I'd direct you to the leasing forums, but ever since that was broken down by make, the activity died down considerably and questions go largely unanswered there, too.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • cluedweaselcluedweasel Posts: 148
    There is no reason that you shouldn't be able to get the same price as someone purchasing the vehicle. When a car is leased, the dealer gets paid for it the same as if they had sold it outright.
    When negotiating a lease, ignore the monthly payment. The figures of interest should be a cost of the vehicle - same as if you were buying, the money factor, the residual and any other incidental costs such as doc fees and security deposits.
  • theflushtheflush Posts: 100
    That's what I am looking for: money factor, residual, and any other costs. It's not hard to figure the payment from there. I'd like to know this info before negotiating with a dealer. Actually, I'm already asking for purchase price info from several nearby dealers via email, and once I have that nailed down I'll ask about leasing.
  • audia8qaudia8q Posts: 3,138
    Does anyone know what kind of lease deals are available on the last 05 MPVs?

    Mazda has final paid the dealers and there is no more marketing support for the 2005 MPV's(including subsidized leases).....OTOH you could check lease sources other than Mazda...i.e Chase, first third etc..

    Also, FYI...Mazda purchase incentives often do NOT match the lease incentives. Mazda, like most manufacturers subsidize their lease rates/residuals...this is in lieu of some cash incentives.
  • larryallen707larryallen707 Posts: 168
    My mother in law likes to drive a "nice" car. Like many of us she cares about car perception and what others think. Currently driving a Toyota Highlander and lease is up next month. For $300-400 a month what's the BEST LEASE deal on a quasi-status car? I was thinking a Saab maybe?
  • qbrozenqbrozen Posts: 17,468
    ??
    since when is a toyota a status car??

    Chrysler is running a $299/mo special on the 300. It takes almost $4k down, though. but if you're willing to push closer to $400, then that would cut down the down payment considerably.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • larryallen707larryallen707 Posts: 168
    "Status" is defined solely as my mother in law sees it. Since some of her lawyer friends drive Highlanders then it's acceptable. Most American cars are not. A stripped down bottom of the line Benz is a status car to her.
  • british_roverbritish_rover Posts: 8,476
    Oh man do I feel sorry for you.

    Not to get to personal but she sounds like a bad MIL.
  • qbrozenqbrozen Posts: 17,468
    Well, obviously its up to her, but a 300 will always turn my head more than a highlander. Besides, the 300 isn't necessarily american. No more than a Highlander, anyway.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • bretfrazbretfraz Posts: 2,021
    She should check out Lexus. The new ES350 is out so dealers are selling off the ES330. Gotta be some good deals out there and Lexus ain't a bad status brand.

    If she can get an extension on her Highlander lease and wait, Lexus will be holding their "Blowout The Old Junkers" annual sale in August. It'll be a good time to pickup something like a LS430.
  • jlawrence01jlawrence01 Posts: 1,828
    Poor guy!

    My in-laws drive a 1973 Chrysler New Yorker and think that my wife's employer is frivilous because she gets a new company car every three years.
  • rseegerrseeger Posts: 4
    We have a completely loaded Tribeca (39K+) 7 passenger, dvd, nav, and all the goodies. We pay 420 a month with no money down. Its great car. We love it.

    Good luck
  • matcarmatcar Posts: 2
    My mom 16 yr old nissa 240sx died last month. I have been driving her to test drive vehicles, like the mazda3, which we both like. The Matrix which she likes, but I just think it feels like a box, and it's gutless. The jetta which is nice. Her credit score is around 650 so we cant get her the best deal. Im running out of patience, because my sundays are spent trying to get her into a vehicle. I offered her my Ford Explorer which only has 42000 miles on it, but she doesnt want it.. I need a car like the jetta, mazda3, that doesnt consume lots of gas. I will be putting up most of the down payment for her, which is only about 1200, what I can afford. She can only afford about $200.00 a month. What do you guys suggest. I need help to get her into a car, she is currently taking the bus to work and back and I cant have that here in LA.. Im tired of talking to carsales people internet managers etc..

    thanks..
  • qbrozenqbrozen Posts: 17,468
    $200/mo with only $1200 down is REALLY difficult with a top-tier credit score, let alone 650. You'd definitely be looking at a long-term lease, which is never a good idea.

    A base Corolla is all that I can think of that you MIGHT be able to get for $200/mo with only $1200 down. I'd bet pretty good money you CAN'T get a Mazda3 for that.

    You might want to look into the new subcompacts like the Yaris, but without subsidized lease deals available on those yet, I'm guessing it will be out of your pricerange, but its worth a shot. Maybe check out Scion, too. I'm pretty sure the Honda Fit will be out of your range.

    You really should be looking at used cars.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • graphicguygraphicguy SW OhioPosts: 7,275
    I'm with q. Used seems the best way to go.

    See if you can find some of those Hertz/Avis rentals that they offer for sale. Hertz, at least, has some 20K mile Corollas that they used as rentals and then turn around and resell.

    I don't think you'll be doing your mother any favors with the Explorer, either. Not bad vehicles, but as you've found out, MPG is dismal and they aren't very popular vehicles with gas hovering around $3/gal. I doube any dealer is going to give much in trade for it since they've already got SUVs on their used (and new) lot gathering dust.
  • jeffyscottjeffyscott Posts: 3,855
    I don't know what that credit score means in terms of interest rates, but might it be possible to buy (instead of lease) something decent, yet small and cheap. $10,000 at 8% would cost $203 per month for 5 years.

    Ford Focus has $2000 rebate. With $1200 down plus $10,000 loan plus the rebate...you could buy one with invoice of about $13,000.

    There is similar rebate on the outgoing Nissan Sentra ($2250).

    Not sure what you can get in either car for $13,000, though.

    It's possible incentives will increase after July 4...so maybe she could drive the explorer for a couple weeks and see what happens then.
  • qbrozenqbrozen Posts: 17,468
    8% might be tough with a 650 score, but not unheard of.

    Problem with the scenario you've outlined is that it fails to account for taxes, tags, and fees. That alone will eat up the down payment.

    But I do like your thinking. Again, however, I'd go with a base Yaris rather than a base Focus. Problem is, I get the feeling mom ain't settling for a "base" anything.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • jeffyscottjeffyscott Posts: 3,855
    Well, I have seen ads for 96 mo. financing on cars.

    Personally, I think it is not a good idea to get an 8 year loan...otoh, I don't know that leasing makes sense unless one is planning to always have a newer car. Which, I am guessing is not the plan here. Or is there less penalty for the low credit rating, when you lease?

    Sounds like Mom never learned to live within her means :( .

    Problem is, I get the feeling mom ain't settling for a "base" anything.

    Maybe a loaded Aveo, or Kia Rio would work, then ;) .
This discussion has been closed.