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Car_man
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Smart Shoppers Message Board
But 1 good thing is they deduct your trade in
allowance from the deal price. Then charge
sales tax on that. Then deduct rebate(s) etc.
and add tag, insp., etc........
Also, if we agree on the OTD price on the car and then get to the F&I table and the lease numbers (money factor, residual value, etc.) are not acceptable to me, is it bad form to walk out?
Thanks for any help you can provide!
Jana
I've even helped with bad form, as in being on the other end of the cellphone when my out of state buddy was in the F&I office - I had the F&I person copy and paste the "deal" screen into an e-mail to me before I'd give my buddy the "go ahead" to do the deal.
If you're concerned about appearances, simply take the numbers and take a coffee break out to your car or down the street. Then again, simply mentioning that "you have your laptop and you've been doing some figuring with your payment calculator" will make the numbers come out right, since they're sure to be checked.
Walking out of the office is an option that many people SHOULD choose, but don't. Instead, they log into Edmunds and complain about "getting taken" instead of taking personal responsibility and doing some thinking and researching before signing on the dotted line for a contract for thousands of dollars - after the fact is not the time to be concerned about what you're signing!!
Mitsubishi Motors has had many issues in Japan with hiding defects to avoid recalls and some corporate scandal issues. So yes, the US$5 Billion has a lot to do with issues in Japan.
nissanusa.com has a payment calculator for leases, and i would suggest using it. the payment it comes up with is before taxes, so factor that in, but it is VERY accurate.
invoice on a 2.5S with mats and muds is $19047. unfortunately, you dont get the rebate by leasing the altima. using invoice, with your 1st payment, acquisition fee, and cap cost reduction taxes as your initial payment of about $830 you should be in the $280 range plus sales tax on 39 months at 12k miles per year. this is assuming that you get the security deposit waived (over 720 beacon).
good luck and keep me posted.
Bowke, I understand that the $1,000 rebate can't be used on a lease with NMAC, but if I leased through a different bank, does that change this rule?
also, i always advise people not to go longer than 39 months on any lease, so dont let them talk you into longer.
Janamax - There are a few questions you should ask yourself prior to leasing (I'll tell you my story after I ask them.) Have you leased before? How long did you keep your last two cars before you started looking for a new one?
I say this because I am finally, after 4 leases (2 at a time), deciding that I'm not a lease person. I've never been one to keep a car more than 2 years and I had two 3 year leases and two 2 year leases. All four times I could hardly stand waiting until it ended. One of them I sold outright after two years (and made $880!) and two of them I paid off early and turned them in in the last 6 months.
39 Months is far too long for any Nissan as they only 36 month warranties. You don't seriously want to pay for repairs for a car you dont own do you?
I originally was just looking at 36 month leases, but then it occurred to me that I would rather have my lease end closer to year-end rather than in the summer. I don't drive many miles at all, so I'm not too concerned about a three month span after the 3 year warranty is up. I am really good about keeping up with routine maintenance, so I hope that the car doesn't decide to die on me in out-of-warranty land... though I know that's a risk I may have to take.
I don't really get that "itch" to go out and buy a new car. 48 months worked fine on the Hyundai bc they have a 5-yr b2b and 10-yr powertrain warranty, so I was well within range there. I was definitely ready for the 48 months to be over, but I knew that rolling over negative equity didn't make sense to me... the Elantra has been great... just ready for something a little nicer now.
I know that 39 months leaves a 3-month window with no warranty, but (as I mentioned in my post above) I think the Altima will make it through that relatively small time span okay.
I agree with Bowke about the Manufacturer leases also.
Mine is more consumer oriented though. When I was in the business and since I have heard many stories about the bank leases and the way they nickle and dime you to death at lease end. (Most people would assume that "normal wear and tear" of a 3 year old car means having a few door dings, rock chips, etc. but the banks literally want you to bring it back like it is brand new) I've only used GM but they are really liberal when it comes to understanding that small dings and chips do happen.
Happy Altima to you!
I've never understood the disposition fees some of them charge. I've never had to pay that on my GM leases that I've turned in.
I'm much like you in that I don't drive anywhere near as many miles as I'm supposed to. I turned in my '01 Cadillac STS in February, '04 (lease end 4/04) and I paid for 45k miles. It only had 21k miles when I turned it in. Mostly because I moved much closer to work during the lease but also because it was out a total of 2 months during the time I had it due to warranty repairs. The '03 Tahoe I'm turning in next month (lease end 12/04) is paid for 24k miles but I barely have 14k on it. At least I'm one of the lucky ones and when things change during my lease they are usually for the good!
thats because ford and GM incorporate it into the lease payment. you DO pay it, but they dont disclose it.
jan, you WILL pay the $550 acquisition fee one way or another. i would pay it up front, if you can, so you dont have to pay interest on it.
if your taxes are 6% like KY is, then your payment should be under $300 OTD.
I'm planning to pay the acquisition fee and first month's payment up front. Security deposit should be waived for me (my credit score is around 750), right? I didn't pay a security deposit on my Elantra.
Our tax amount on leased vehicles in NC is 3%. I'm confused about one thing, though: the Edmunds and Carsdirect sites both list invoice at $18,844, which (if the Lease Guide calculator is correct) puts my monthly payment right around $250 (including tax). I used .00193 money factor and 58% residual. Am I missing something?
If you take a GMAC lease and look at every other lease company out there (for the same vehicle) and GMAC has the Residual higher and the Money Factor lower then it is just a better deal. If those other companies have a disposition fee and any other fee tacked on to the end it's not fair to say "Oh that's built into the GMAC lease."
i dont know the money factor. where did you find it?
also, if you dont pay the acquisition fee upfront, it will be put on top of each payment.
GMAC does have an acquisition fee. they ALL do. this charge is a standard charge that pays for the vehicle to be trucked to wherever it goes when you turn it in. if you buy the car, then you subtract the amount of the acquisition fee from the residual, and add sales tax.
if you buy the car, then you subtract the amount of the acquisition fee from the residual, and add sales tax.
Where do you come up with that? I've worked with many GMAC leases when I was at the stores and they never subtracted the acquisition fee at the end if the person bought it. On the one that I sold a couple of months before lease end they didn't subtract it. That is why it is called an ACQUISITION fee.
Car_Man on the leasing board will be able to get you the current NIMAC numbers you are looking for.
BOWKE also, I assume.
"My numbers from the Lease Guide calculator are way different."
this is why calculators for leases are not a good way to educate yourself. if you were using it for conventional financing, that one thing, but a lease calculator doesnt have the programming necessary to give you a true #. thats why i was asking where you got your MF.
Here's the formula I use:
Depreciation Fee = (Net Cap Cost - Residual)/Term in months
Finance Fee = (Net Cap Cost + Residual) * Money Factor
Monthly Payment = Depreciation Fee + Finance Fee (before tax)
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My dealer tells me that he has heard there will be a few changes on the coupe but did not know specifics.
Being on the outside sucks sometimes!
You may be able to cancel it for a adm. fee. Although the time you have had it may make a difference. Some companies allow it some don't.
If they do and you feel safe the Ax is not gonna be troublesome after mfr. warranty expires. You could put that $$$ in your pocket OR apply it to the financed amt. to lower your payments. Also if allowed.........
The dealers guys may be able to answer that one to be sure.......
What if I don't buy another Audi, can I still take advantage of this? And just let the dealer keep the $500?
Thanks,
Copper
Other manufacturers have run similar programs and that was always the deal.
Car_man
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Smart Shoppers Message Board
Guess i'll have to wait a few more months.
Carman...disregard the duplicate post on the lease thread.
Copper
The invoice cost on the car I am looking at is $19,444. I offered $18,750 OTD after the $1,000 rebate and they said no go. I'm trying to decide how much more I should tack onto my offer. Their add'l fees are kind of steep in my opinion. $270 doc fees, $28 fee for checking my credit, $55 registration and plate fee, $9.10 for state inspection. I realize that all of this is included in the OTD price. Just thinking out loud...
Take a Taurus - probably the easiest example - buying a new SES for $21k, if the owner was foolish or wanting to lose major bucks, could trade the car after a year and 15k miles - they'd get anywhere from $8500-9500 depending on location. The second buyer of that Taurus could pick it up for $10500-11000 easily and have a nice car for cheap - that's just the way it works - no mysteries or urban legends to it.
I'm too scared to think about what they would give me for my trade, so Im trying to sell it privately. Don't know I'm doing the right thing, not.
As far as trade. I wouldn't let it be part of your negotiations. Do you have a Carmax near you? They consistently offer just about 1/2 way between low and high book for easy to sell vehicles.