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Smart Shopper Stories from the Sales Frontlines
47914 messages, Last post on Nov 27, 2009 at 11:16 AM
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A lot of states collect the tax upfront, though you can add it to your CAP cost... (NY, NJ, OH, for example) Some states collect sales tax on the entire purchase price (even though it's a lease)... Illinois and Texas, for example... Of course, the most desirable way... are the states that collect the tax each month, with the lease payment.... KY, CA, and a bunch of other ones.. scottinky.. If you trade your lease in to a dealer, then they should get a payoff from Honda Finance that doesn't include taxes... I doubt you can come close to breaking even, selling to a dealer, but at least you don't have to factor in the sales tax. regards, kyfdx |
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This talk about leasing reminds me about when I leased my 84 Camaro. That was when buy-backs were very low, and miles allowed were very high. Just when the lease was up the finance guy at the dealer called me for a meeting. I thought they were going to arrange for getting me into a new car. The finance guy and sales manager were there with some papers they wanted me to sign. They said they sold the car to me at too low a price, it was calcualated by a new clerk at the time, and they wanted me to pay an additional $1600, or they wouldn't make any profit on the car. I thought I got that car for a really good price, so that made me sure I got a good deal. I said "I felt bad for them" (and even though I had tears in my eyes) but I wasn't interested in coming up with $1600 for the dealership. I bought my next car somewhere else because I thought they would sure want to make it up on my next purchase.
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...for the BMW Car Club's annual Oktoberfest. It's going to be held at Lake Lanier Islands Resort- assuming that the place is not underwater...  I'm supposed to instruct at Road Atlanta; maybe I should bring my Wrangler instead of my 318ti... 
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Replying to: driver100 (Sep 24, 2009 4:45 am) My dad and his business partner leased two Caprice Classics back in the late 70's. When the lease was up the partner returned his car and then received a phone call from the dealer  2 weeks later. They told him the car brought $1200 less than estimated and that he would have to make up the difference. He told them to show him the contract language that made him responsible and to produce all the supporting sales documentation. They never called back.
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Replying to: driver100 (Sep 24, 2009 4:45 am) In reality that doesn't happen. Once a deal is done and delivered, nobody will look back when you come back to buy another vehicle.
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Replying to: scottinky (Sep 23, 2009 6:46 am) There's a delta of about $100 between your current payment and what you want your payment to be. So, $100 x 19 more payments = $1,900. And your out of pocket right now on this sale is $1,800. Kind of a wash. But, as you say, you would own a car at some point if you pull this deal off, and buy something else. On the other hand, buying something else, even used, you're extending your payments past the 19 months you have left on your current lease (probably, at least an additional 36 months).. I say, keep the Ody till the end of the lease. Then, start all over again, only this time on a purchase instead of a lease. To me, that makes the most sense.
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Replying to: graphicguy (Sep 24, 2009 9:38 am)
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Replying to: boomchek (Sep 24, 2009 9:36 am) Interesting, I will keep that in mind (though I think the dealer learned not to give cars away at cost any more) . Leasing used to have some great advantages....these days I think it only works if you are leasing a car that doesn't depreciate much, and if you don't drive many miles. I suppose that low monthly payment is hard for some people to turn down, but it could lead to problems like our friend here with the Odyssey.
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Replying to: roadburner (Sep 24, 2009 7:01 am) And we wonder why car dealers get such bad reputations. Many are fine and I am sure honest (like the fine people on this post), but a few stories like that certainly lead to a lot of distrust. I really wonder whether these dealerships ever collect from any one in these situations. It's hard enough getting people to part with their money for a legitimate reason. |
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Replying to: driver100 (Sep 24, 2009 10:52 am) Alot of the leases also have very low money factors that help drive the cost down. Actually, with the residuals in the toilet that is really the only way leasing makes any sense. Try and figure a lease at a non-subsidised MF and it will be sky high. Residual on three year leases used to be 55 - 58% now I am seeing mid 40s (even on Lexus) and on a Cadillac board i saw in the 30s! I was happy on my last lease in May to get a 49% and a MF that equated to 1.4 % interest.
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