Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Prices Paid: Buying & Leasing Experiences Nissan Versa Prices Paid and Buying Experience
510 messages, Last post on Oct 13, 2009 at 8:28 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
|
I have been converted! The staff at Victory Nissan Macomb have performed a nearly impossible feat - they gained my trust and enthusiasm to do business with them (see previous post). To make a long story short, I was ready to walk until contacted by their amazing general manager. He listened to my tale of woe and was more than willing to help me. He offered accountability; I felt as though he understood where I was coming from. True to his word, after our conversation, he called me - again - and offered a very fair discount as well as free service at the dealership. More importantly, when I went to the dealership to complete the deal and take possession of the car, I was treated with respect and genuine courtesy by knowledgeable staff. I left the dealership with happiness in my heart and hope for the future - no misgivings whatsoever. In short, I am absolutely delighted with my dealings with Victory Nissan Macomb, and would recommend them to any friend in an instant. |
|
| I saw two new Versa commercials on tv last night, both repeated a number of times. The base price shown was $12,550, which tells me there may have been a $100 price hike. I did not catch the fine print. I should have frozen the screen to take a better look. Nissan's web site still reflects $12,450 as base. | |
In retrospect, I think what I *thought* was a good deal on the new 2007 Nissan SL (CVT) I just bought is not such a good deal. Hopefully one of you knowledgeable souls here can help me  I did my homework (so I thought!) Been researching cars for the last 3 months (all makes/models/leasing versing buying) online. Am leery as I'm the type to keep a car at least 9 years (I just love that 4-year period of NO car payments, lol). But I truly cannot make sense of the amounts on my lease agreement (this was from a Nissan dealer in Glen Burnie, Maryland) and my phone and emails to them have gone unanswered. Not good  Anyway, through Edmunds.com, I emailed all the Maryland-area Nissan dealers with the car I was interested in -- the 1.8SL with CVT, splash guards (front & rear), convenience package (Intelligent keyless entry, bluetooth hands-free, steering-wheel mounted controls, 6-disc indash CD player, 15-inch alloy wheels, leather-wrapped steering column, satellite radio prewiring, 5-piece floor/trunk mat set. The total on the sticker on the car window was $17,015 (MSRP + destination charges). During this time, another local Nissan dealer emailed me back and said they'd sell me the same car for $16,715. So I went to the Glen Burnie dealership (nearest me) to test drive it. Mulled it over. Went back the next day and told the salesman if he matched the other dealer's price, I was interested. So he offered me the car, same options, for $16,715--super black exterior with beige interior. (This was before discussion of trade-in value for my blue Plymouth 98 Neon with 95,000 miles on it and putting $1,000 down in cash.) He originally offered me only $900 for trade-in and I said thanks but no thanks, as another dealer offered me a better trade-in. So he then offered me $1300 for the trade-in. I decided to get the car and went with a 24-month lease. As many can attest about this process, by the time I got home with my new car, my brain hurt, my eyes hurt, my very eyelids hurt, lol. Then I started looking over the lease I signed, with some dismay and confusion. (BTW, the odometer had 200 miles on it.) I can't figure out what I actually paid FOR the car, as the $16,715 is nowhere mentioned on the lease. My capitalized cost reduction cost was $1984.41 (which is result of the trade-in allowance, which was $2300, $1000 down in cash, and first monthly payment of $315.59). Under gross capitalized cost it says "agreed upon value of the vehicle is $17,513." As I mentioned my monthly payments are $315.59. But the last line under the gross capitalized cost paragraph is $20,422.55. Adjusted capitalized cost was $18,438.14. Total of my monthly payments over the 24-month lease is $7574.16. Total of payments I will have paid by end of lase is $9558.57. I guess my question is, where did this $20,422.55 price come from? I simply can't figure out what I actually paid FOR the car, minus the taxes, title, acquisitionfee, rent charge, etc. Figuring into that amount, I'm assuming, is letting myself be suckered into what may be an unncessary warranty. Something called Security+Plus Vehicle Protection Plan for $1186, Gold Preferred Plan, for 60 months/60,000 miles on odometer. As I am most definitely trading the car back in after the 24 months and NOT opting to buy it, I gues that was a stupid move on my part. but someone mentioned I may be able to get that money back? That is, change my mind about that Security+Plus warranty. Is this true? I apologize in advance for sounding so stupid! No wonder I keep cars for 10 years. It's too painful an experience and there are too many ways to get hosed . I was also told I had to give up my vanity plates (that were on the Neon), as the state of Maryland doesn't alllow vanity plates on leased cars. I've never heard of such a thing. Is this true? So my questions I guess are, should I go back to the dealer and discuss this with them? Did I get hosed? Get out of the extra $1186 warranty I paid for? I'm happy with the car, extremely so, but the numbers have me worried. What happened to the $16,715 I was quoted, and where did the $20,422.55 come from? I also, based on this experience and on the salesguy *not* returning my messages, will *never* again purchase a vehicle from Nissan of Glen Burnie and have warned others of my experience. Thanks in advance for any help anyone can offer. And please don't laugh at me too loudly
|
|
|
|
|
Replying to: reuropa (Sep 06, 2006 8:16 pm) My VErsa SL CVT with the same packages and extra as you. in section 3, it should read: Amount due (this is trade, $$ down etc) Monthly payments : mine are $268.71 w/tax month x23 payment = 6449.04 section 4 is the breakdown on how the moneies is spent on your lease. This is pretty straight forward. sectio 5 Gross Cap Cost The price YOU and the dealer aggreed on. Cap cost Reduction the downpayment you are putting down on the car. adjust cap cost is the Gross cap cost (-) the Cap Reduction the final price of the car. f) rent charge is the money factor or APR, mine is 821.29 or .0021 (which is standard on the lease through Nissan and its VERY low) g) total base monthly payment. If you add e and f then you get g, that is what you are paying on your lease. i) is your base payment plus (j) monthly tax) = (l) which is your total monthly payment. What I wrote you should help.. YOu got screwed on that Protection + program, you are leasing the car for 2 yrs and the standard 36K miles warrently will cover the car... So the 1186 was wasted and the dealer made LOTS of $$ off it. Ok I reerad your post you paid for the car what is under the Adjusted Cap Cost or $18,483.14. Now if you minus 1186 which would be about 17,400.. One nice thing about these nissan leases is, once the lease is over with, call Nissan up and let them know your lease is up (about 2 months out) and Nissan will give you a code. You take that code to any Nissan dealer or Infiniti and you are automatically garrentee to lease another new Nissan/infiniti product with that code... Tony
|
|
|
Replying to: flightnurse (Sep 06, 2006 9:02 pm) Amount due (this is trade, $$ down etc)>>> Mine reads: $2300 >>>Monthly payments: mine are $268.71 w/tax month x23 payment = 6449.04>>> There is no tax amount/number listed, but under monthly payments it reads: $315.59 x23 payment = $7574.16 >>>section 4 is the breakdown on how the moneies is spent on your lease. This is pretty straight forward.>>> Seems to be. Cap cost reduction is $1984.41, monthly payment is $315.59 >>>sectio 5 Gross Cap Cost The price YOU and the dealer agreed on. Cap cost Reduction the downpayment you are putting down on the car.>>> This is where I'm confused. It reads $17513.00 for gross cap cost. But the handwritten form he wrote out for me (when we first discussed price of the car) says he'd sell me the car for $16,715. Cap cost reduction is $1984.41 >>>adjust cap cost is the Gross cap cost (-) the Cap Reduction the final price of the car.>>> This line reads $18,438.14. >>>f) rent charge is the money factor or APR, mine is 821.29 or .0021 (which is standard on the lease through Nissan and its VERY low)>>> Mine reads $876.37. >>>g) total base monthly payment. If you add e and f then you get g, that is what you are paying on your lease.>>> Mine reads $7574.16 (rent charge $876.37 + depreciation amount $6697.79). >>>i) is your base payment plus (j) monthly tax) = (l) which is your total monthly payment. base payment is $315.59, monthly tax is N/A,, total monthly payment is $315.59. >>>What I wrote you should help..>>> Tremendously! Thank you so much! But I'm still confused on the price he quoted me in writing ($16,715) versus the price on the lease $17,513. How is that legal? :/ >>>YOu got screwed on that Protection + program, you are leasing the car for 2 yrs and the standard 36K miles warrently will cover the car... So the 1186 was wasted and the dealer made LOTS of $$ off it.>>> Is that something I can change my mind on? I was talking to a relative (who is a general manager for a Ford dealership in Pennsylvania, and he says I can get out of that, get a refund or lower total cost of the car (basically, say that I've changed my mind about this needless coverage). The FI guy never mentioned anything about that (about how such coverage wasn't necessary, as the lease was for 24-months/12,000 miles a year, which I'll not likely come close to). Is this something I can pursue with the dealership? >>>Ok I reerad your post you paid for the car what is under the Adjusted Cap Cost or $18,483.14. Now if you minus 1186 which would be about 17,400..>>> Meaning I can change my mind about the extended needless warranty? >>>One nice thing about these nissan leases is, once the lease is over with, call Nissan up and let them know your lease is up (about 2 months out) and Nissan will give you a code. You take that code to any Nissan dealer or Infiniti and you are automatically garrentee to lease another new Nissan/infiniti product with that code...>>> Not interested. I am forever done with Nissans. Thank you so much for your help. I'm still extremely glum and mostly annoyed with myself for being suckered, but as they stay, (stupid if well intentioned) buyer beware Ruby |
|
|
Replying to: reuropa (Sep 06, 2006 9:39 pm) Sounds like you should have been able to get a beter lease rate, but lots of factors go into that, like credit for example. I don't personally have any experience leasing cars. If you like the product you've purchased, don't hold the dealer's practices against the manufacturer. All car dealers are in business to make money and you have got to watch out for your own pocket book. Maybe in two years you decide you want to try another NISSAN, just don't buy it from Glen Burnie NISSAN. Tell everyone you know to stay away. It's shameful to sell an extended warranty on a 24 month lease. You must have been very tired when you agreed to that. Ben |
|
|
Replying to: bendupre (Sep 07, 2006 12:00 am)
|
|
|
Replying to: bendupre (Sep 07, 2006 12:00 am) That should be okay then. I've had the car about 6 days now and have put maybe 150 miles on it since I drove it off the lot. >>>Sounds like you should have been able to get a beter lease rate, but lots of factors go into that, like credit for example. I don't personally have any experience leasing cars.>>> That is probably where I erred. I've never leased a car before but decided to do so this time. I've a rather serious chronic health problem that is worsening, and in two years, might be incapacitated enough not to be driving or frankly not even around TO drive anymore. Maybe an unsound reason to have chosen to go with a lease, but there you have it. >>>If you like the product you've purchased, don't hold the dealer's practices against the manufacturer. All car dealers are in business to make money and you have got to watch out for your own pocket book.>>> Indeed. And I understand this. They are in it to make as much money as they can. And here I thought I'd done my homework so well! LOL. Spent a few months reading all the more reputable websites such as Edmunds, talking with others, etc. But that was more with a purchase of the car in mind rather than an outright lease. I decided to go with a lease because as I said, with my health problems, a lease gave me lower car payments (which I preferred at this time) and depending on the state of my health two years from now, didn't want the additional worry, to myself or family, of car payments still to be made or trying to sell the car. I do know my credit history is excellent. The company I work for had a laptop stolen with all employee payroll personal info in it, so the company paid for everyone to have automatic three-year credit fraud protection through Equifax, to be safe. I got copies of my own credit history from all three agencies and my FICO score (which was 730-750, something like that, I believe), so I know I have outstanding credit and an excellent overall credit rating. (Interesting to know this program works, since the very next day Equifax called me to let me know there had been inquiries into my credit and had I made a large purchase. They wanted validation from me.) >>>Maybe in two years you decide you want to try another NISSAN, just don't buy it from Glen Burnie NISSAN. Tell everyone you know to stay away. It's shameful to sell an extended warranty on a 24 month lease. You must have been very tired when you agreed to that.>>> I think bewildered is more the appropriate word, lol. By that point, and after them throwing all this information and numbers at me, my mind was slowly becoming mashed potatoe. I will never again be that stupid. I also realize how good I've had it over the years. I'm 41 and have only ever owned 3 (not counting the Versa) cars. The first three cars I bought from dealerships who were friends of my family, people my mother or father had gone to school with and known since childhood, so I knew I was getting a fair deal. But how shameful that dealerships don't practice straight-out honesty. It's hard enough to raise children to do the right and decent thing by others when others often try so hard to do the opposite to you! Thanks again to everyone who has replied. This is a great forum. |
|
|
|
|
Replying to: w9cw (Sep 07, 2006 4:09 am) Leasing is good for a few reasons. For me, it works out that I need a very Reliable car for school, I'll be traveling between Phoenix and Tuscon for my Clinicals, staying Tuscon for up to 2 weeks at a time. I'm in school for 2 yrs, so I was able to get into the new car with NOTHING out of my pocket and payment well under 300/m Even if I were to get a 6 yr loan my payments wouldn't be under 300/m through nissan. Once I'm done with school, I'll be looking at new Infiniti so I'm basically already qualified for a new loan through Nissan. Also there are people who get new cars every 3 yrs, like my uncle, he leases a new car every 3 yrs, and nothing out of his pocket every time... Tony |
|
|
|
|
Replying to: bendupre (Sep 07, 2006 12:00 am) regarding getting a better rate with better credit, Nissan is the only car company that has a range of FICO scores you need to qualify, and that magic # is 630. So for people who have a FICO acore of 630 or greater,they WILL qualify for the lowest Money Factor Nissan offers which currenly is .0012 on a lease for a Versa. Nissan doesn't charge more money if the lease is for 12 or 15K miles a year like other car companies. My lease is for 15K. But if you want to go for 20K then there is a charge for that. Nissan has some of the best leases out there, a friend just leased a 07 BMW 335i Coupe, I couldn't beleive what BMW was offering him... Its basically take it or leave it. the money factor was .0035 for 3 yrs, they woudn't come down on the price. They are making a killing on those leases, with 3K out of pocket, only $250 going to reduce his cap cost, his payments for 36 months with 12K/yr are $625/m his payments for his total lease is 25K, the cost of the car was 46K.. the Residual on the car is 32K.... YES, BMW is making out VERY good on that deal... and yes at BMW you need tier 1 credit to get the good rate and my friends FICO score was 804.... Just a little comparison to show you how two different car company do thier leases... Tony 
|
|
You are here:
Forums
Prices Paid: Buying & Leasing Experiences Nissan Versa Prices Paid and Buying Experience
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
2010 Nissan Versa
Browse by Board
Browse by Topic
Today's Chats
