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Smart Shopper Smart Shopper-Archives Lease Questions - Ask Here 
23872 messages, Last post on Sep 20, 2005 at 8:08 AM
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Guys I have put out some questions and I have a cpl more. I am plugging in the #'s into the lease calculator and my numbers and the dealer's numbers are not the same. I am putting $2,500 down but the sales guy is saying that approx. $1,400 is going towards inception fees so only $1,100 is going towards the cap cost so in my mind a negotiated price of let's say $32,000 minus $2,500 should be a net cap cost of $29,500. Thay are saying it is only $30,900 $32,000 minus the $1,100.) Is this correct? Also the destination fee is $570. Can this be waived or should it be added to the invoice price in my mind prior to negotiating the sale price?
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Replying to: eva3b (May 05, 2005 8:28 am) http://automobiles.honda.com/models/specifications_full_specs.asp?ModelName=Pilot&Category- =ALL and if you look at the Handa web page (the alarm for the LX is just $254.40 but you have to put it in yourself) it says: Security System Genuine Honda Pilot security system kit. Remote operation, door ajar warning, auto relock function, lights dome light on disarm, sounds horn and flashes lights when triggered, glass breakage detector, door and trunk sensors. Also adds Keyless entry feature. Includes everything necessary for install including fully integrated wiring harness. 2003-2004 LX Models Only (EX model comes from the factory with an alarm) http://www.handa-accessories.com/pilelect.html So the dealer is blowing smoke - besides that is why you pay the big bucks for insurance. Dennis |
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Replying to: eva3b (May 05, 2005 8:34 am) Dennis
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I always thought the residual value was based on a % of MSRP...now that I am getting close to closing a deal on a Honda Odyssey I see that they are calculating the residual based on our negociated purchase price...is this typical...have I been wrong all along? Is this a trick up the dealers sleeve? Is this something specific to Honda leases? TIA Chris
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Replying to: dwynne (May 05, 2005 9:10 am) |
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Replying to: steevo (May 05, 2005 8:35 am)  $379 sounds like a round number that a dealer came up with. I prefer to negotiate a really low price on the new car, negotiate a fair deal on the trade, then get the buy rate on the lease. This will almost never come with a $379 or $399 a month price - more like $341.17 or something. Generally if you just go by payments you are paying too much. If they bring back the 24 month lease deal that can be a good deal, but that is normally not as sweet a deal as 36 months since so much of the depreciation happens that first year. Now when they have those special really high residuals then 24 months lease make "sense". Does NY make you pay tax on the whole purchase price? I think they do, so then you should only pay on the different between the purchase price and trade in allowed. $30k new car $10k trade = tax on only $20k. If they do not, then there may not be much tax benfit from the trade - so you might come out better selling the car yourself. Dennis |
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Replying to: captchaos145 (May 05, 2005 8:46 am) A lot of dealers are now leaving this out of their quotes, since this makes their deal sound better VS someone else. When comparing prices you have to get a quote that includes the car, destination, and any dealer or doc fees. If you don't, you can't really compare deals - or like you can't the number to work out since your price on the car does not include these fees. You negotiated $32,000 for the car (only) is seems, then they add the lease acquisition fee, the destination fee, and any dealer fees on top of this number. So your money does not go as far towards the cap cost reductions. BTW, most folks recommend against paying any money down on a lease. Dennis |
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Replying to: ch7656 (May 05, 2005 9:32 am) Dennis |
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Hi, I posted a question regarding a lease on a 2005 Lincoln Navigator , post # 19705, and I haven't heard a response. I was wondering if I could get a bit of help. Thanks. LB |
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Replying to: adgridley (Apr 14, 2004 2:14 pm) I don't now the various lease options. Can you help? |
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