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Current Best New Car Deals

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  • plektoplekto Posts: 3,733
    Note that I said "less than $199". I can get half a dozen cars for $199-$209 a month. I was just curious if anytihng siginificantly less expensive was available.
  • plektoplekto Posts: 3,733
    No activity in over a month?
  • aephemeaepheme Posts: 48
    Thought I'd bring some life back to this thread...! What does everyone see as some of the best lease deals currently out there? I'm specifically looking for a Crossover/Midsize SUV, but I'm not particular about the actual brand. The two best deals I've found (for a 24 month / 12k lease / 0-down) are:

    1. 07 Infiniti FX35 ($500-$530/month), $40k-$43k MSRP
    2. 07 BMW X3 ($510/month), $42k MSRP

    Surprisingly, these handily beat a number of other lower MSRP car options.

    1. Trailblazer (~$560/month), $32k MSRP
    2. Nissan Murano (~$570/month), $38k MSRP

    Any other suggestions of SUVs or 4WD sedans that have a better $month/MSRP ratio than the BMW and Infiniti?
  • janda1janda1 Posts: 26
    I'm in process of buying 2007 Sentra SL $17,200 after 1K in rebates. My dilemma is that their finance guy tells me that one of the rebates is tied to financing thru Nissan.No problem great rates and I have great credit. He then states that in order to get the rebate I have to purchase a $599. Gap policy. I told him that the rebate doesn't say that and he says he will check with his district manager. The car is due in Monday. I like the idea of Gap insurance,I like the rebate but not the price of it. Does anyone know whether this rebate is really tied to obtaing a Gap policy? Nissan Corp keeps referring back to the Dealership for that answer.
  • cccompsoncccompson Posts: 2,388
    The dealer's story about the GAP policy makes no sense. The mere fact that Nissan referred you back to the dealer tells you that it's not Nissan's requirement.

    Is the Nissan financing rate really all that good? Tying the rebate to it suggests it may be a relatively high rate. You might do better overall by arranging financing elsewhere.
  • cccompsoncccompson Posts: 2,388
    Just for comparison (from today's edition of The Columbus Dispatch):

    '07 Volvo XC70 ($42,950 MSRP) - $399/Mo. for 24 months with $1399 at inception/10.5K miles per year and

    '07 Volvo XC90 3.2 ($45,075 MSRP) - $449/Mo. for 24 months with $1499 at inception/10.5K miles per year.
  • aephemeaepheme Posts: 48
    Thanks, cccompson! I'll definitely have to check those out -- they look like they might be comparable after adjusting to 12k mile / 0-down.

    We stopped by a number of dealerships today and asked them if they could come close to the MSRP/$month ratio that Infiniti and BMW are offering ($42,000/$500) = 84...

    They all gave a resounding NO! I was amazed that most couldn't even get close. Here are some examples:

    Honda Pilot LX 4WD: $610/month
    Honda Pilot EX 4WD: $670/month
    Kia Sorento: NO 24month lease option
    Audi / VW Dealership: Said they couldn't get close!
    Jeep Dealership: The Same.
    Mazda Dealership: The Same.
    Subaru Dealership: The Same.
    Chevrolet Dealership: The Same.

    The only one that got moderately close was the:

    Chrysler Pacifica AWD: $492/month ($36k vehicle)

    And that's still as not as good! Any other suggestions out there? I'll have to check out the Volvo further...
  • dtownfbdtownfb Posts: 2,915
    You do not need to buy Gap insurance to qualify for the rebate or the financing. You have a slimy financing guy who is simply trying to get as much money out of you as possible. If it was required by Nissan, it would have been spelled out in the rebate. Gap insurance is good if you have a car that depreciates quickly; you have a long term loan and you put very little to no money down (or have negative equity rolled into the loan).

    Personally, I would pass on the $599 Gap insurance from your dealer. If you feel you need it, check with your insurance agent. Some insurance companies sell gap insurance. The nice thing is it's cheaper and you can cancel it once you are no longer upside down on the loan.

    What are the terms of the loan and how much are you putting down?
  • british_roverbritish_rover Posts: 8,476
    Never seen someone compare the Ratio of MSRP to lease payment before to shop cars.

    You know that just means the MSRP is highly inflated or the residual is highly inflated.

    A 40,000 dollar car using realistic residuals and money factors should lease for 700 something a month with no money down.
  • aephemeaepheme Posts: 48
    I think that the Ratio of MSRP to Lease Payment is easily one of the best measures to shop for cars. I'm surprised it's not more widely used. It essentially answers the question:

    "How much car am I getting for my payment?"

    Alternatively, you could just look for the lowest Lease Payment, but that's not a great metric. In the following scenario:

    BMW 3-series - $375/month
    Ford Taurus - $350/month

    The Taurus is cheaper... but not a "better deal". Most people would probably jump all over the BMW even though it's more expensive. That's where looking at the lease payment in relation to MSRP is valuable.

    And -- in the majority of lease deals, you're looking for an inflated residual! Otherwise, it makes more sense for you to purchase the vehicle, finance it for 2-3 years, then sell it yourself.

    (A better metric would be Edmund's TMV to Lease Payment, but that makes things complicated. MSRP is decently correlated with TMV.)
  • cccompsoncccompson Posts: 2,388
    I agree, aepheme. MSRP/lease payment is the surest way to calculate lease value.
  • aephemeaepheme Posts: 48
    For those who are interested: I was curious how much over invoice cars are going (in terms of TMV) for in the JD Powers "Premium CUV" Category. There are 14 cars in that category (and 2 in the "compact premium" category). All listed below are 2007 AWD 6 cyl versions:

    1. Lexus GX470 - 7.7%
    2. BMW X5 - 7.2%
    3. BMW X3 - 6.6%
    4. Acura MDX - 5.7%
    5. Audi Q7 - 3.3%
    6. Acura RDX - 3.0%
    7. Lexus RX350 - 2.3%
    8. Lincoln MKX - 1.4%
    9. Volvo XC90 - 1.3%
    10. Volkswagen Touareg - 1.2%
    11. Volvo XC70 - 1.1%
    12. Infiniti FX35 - 0.3%
    13. Mercedes ML350 - NEG 0.5%
    14. Mercedes R350 - NEG 1.2%
    15. Cadillac SRX - NEG 3.4%
    16. Saab 9-7X - NEG 12.1%

    There are a number of reasons why a car's market value may vary from the invoice. The manufacturer could have a systematic pattern of marking their cars too high. The market conditions could be such that specific models aren't selling as well as expected. Or the car could be ill received by the customer base and difficult to sell... Or maybe there's just a temporary discount to encourage early sales.

    Anyway, it's interesting to see. More data!
  • janda1janda1 Posts: 26
    Great advice. my insurance company charges $39.00 a year for GAp.
    Slimy checked with his "District Manager" and stated we do not need to take the Gap and they will apply the rebate anyway. Very nice. The finance rate is .7 percent for 36 months. The price I got was for the sentra SL with mats 18,200 minus $1000.00 in rebates. After tax ($300), and Doc fees (bogus) of $394.50, registration and tag fees $49.00 and $39.00. Out the door for $17989.50

    PS car arrived but my wife found a paint defect on the right rear pillar. Sales Manager says that he would not let us by the car with that problem. He is now looking for a new one for us. Should be in in three days. Do you thik I should haggle the Doc fee or am I getting overly greedy?
  • dtownfbdtownfb Posts: 2,915
    Assuming the price of the car includes the destination charge, you did pretty well. Not sure how much leverage you have since the ony thing you are waiting for is the actual delivery of the car. YOu can always ask. But it seems like you are happy with your current deal.
  • greanpea68greanpea68 Posts: 1,996
    It would be just as easy for them to switch out the rear spoiler if the can't get another car. :)
  • janda1janda1 Posts: 26
    Heard today they found a car 300 miles away and will be ready at noon tomorrow. Comes with a couple of extras,mouldings and wheel guards. Manager says no charge.
    We shall see tomorrow how things turn out.

    Also that deal did include delivery.
  • janda1janda1 Posts: 26
    Good point Greenpea. Latest is they found a car 300 miles away with side mouldings which the sales manager says will be no charge. Supposed to be ready tomorrow.
    SO far so good.
    Thanks for the advice.
  • kyfdxkyfdx Posts: 27,704

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • kyfdxkyfdx Posts: 27,704
    ..is advertising 2007 Infiniti G35 Coupes..

    $37,295 MSRP

    $29,995 Selling price

    I know these are the outgoing body style, but that is a lot of car for $30K..

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • plektoplekto Posts: 3,733
    Dodge has $6000 back on its Ram 1500s, which is also a silly amount off. And, of course, there's the aging Grand Marquis., which is also $6000 off on the 2007s.
This discussion has been closed.