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470 messages, Last post on Nov 28, 2009 at 6:56 AM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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Replying to: timliz (Feb 12, 2004 6:32 am)
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Replying to: bootsnixon (Feb 25, 2008 4:55 am) tidester, host SUVs and Smart Shopper |
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i'm shopping for a 2005 chevy malibu LT. i've found one with 27000 miles. dealer asking 12,000. carfax states car was leased in july 2004. if i go into negotiations to buy this car can i treat the depreciation of this car as if it were 4 years old, since the lease begin in 2004, or do i have to treat the car as a 3 y/o since the year of it is a 2005?
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Replying to: johnnyblaze3 (Mar 05, 2008 6:00 am) |
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Replying to: johnnyblaze3 (Mar 05, 2008 6:00 am) tidester, host SUVs and Smart Shopper |
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Replying to: Sylvia (Dec 03, 2003 1:21 pm) Here is my experience. Step one: from consumerreports.org and edmunds.com: find the best cars which fit your need and budgets, Step two: go to one dealer and have a test drive of one or more cars you want to buy Step three: go to carspace and find out the lowest quotes on the same car others can get Step 4 Use this price quote to negotiate the best deal you can get. With these tips you can save hundreds of dollars. http://web500.us/how-to-buy-new-cars-with-the-lowest-price/
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Replying to: netmark1 (Mar 05, 2008 11:47 am) go to one dealer and have a test drive of one or more cars you want to buy May I propose that a better way of doing this is to locate the models that you are looking for at Avis/Hertz/Enterprise. Drive the car 500-1000 miles over a weekend or two (weekend rates are very low) and see how you like it. When I was looking for a car (for two months), I rented every weekend for $25 per weekend from Hertz and tried out six different models and ended up with the Toyota Corolla, which is a car I thought that I disliked. |
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I wasn't sure where this post should/would go, so I figured I'd start here  Has to do with purchasing a used car, that *was* a leased vehicle. My wife and I are looking at buying a 2005 Dodge Grand Caravan SXT. It's loaded. A retired couple leased the van in 2005, and were (some how) able to get out of the lease early, and decided to lease a new 2008 G.C. They did this all though the same dealership. I've never leased before, but have researched it. My questions are: -) Would that retired couple get a trade-in value/credit toward the lease of their new van? I ask that because dealerships sell vehicles to leasing companies (at or below "cap price"), and most likely make $$ on that transaction (they certainly don't do it for free!). So, if the dealership *does* give a trade-in allowance/credit toward the lease of a new vehicle, then I would probably need to consider the trade-in value and retail value of the 2005 we're looking at much more. However... If the dealership does *not* give trade-in allowance toward a new lease, and just takes the old van off their hands because they're nice guys....then wouldn't whatever the dealership sells it for be "pure profit"...? The way I'd see it would be: Dealer sell to lease company, makes $$ --lease company makes $$ for 3 years ----gets turned back in to dealer after 3 years, who gives no trade-in credit ------goes out the door at $15k...this = $15k profit for dealer (right?) They're asking $16,900 for it, and we're able to spend $15,000 (or less) with a $3k downpayment and anticipated $1300 trade-in (making our loan somewhere around $12k to $13k) Thanks for the help!!
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Replying to: meandm (Mar 11, 2008 7:28 am) So, if the bank charges them $13K, and they sell it to you for $15K, then they make $2K... The couple that turned it in got nothing for it, because they just rented the car for three years.... The bank owns it.
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