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Prices Paid: Buying & Leasing Experiences Mitsubishi Outlander Lease Questions
52 messages, Last post on May 02, 2008 at 5:36 AM
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I am in the process of leasing a 2007 outlander XLS with navigation, sun&sound, and luxury packages for $2000 down and $280/month. I need to know if this is a good deal or not. My salesperson is extremely nice and patient, but this may be a stretch for him so I don't know if i can go lower. What do you think? Gilman Mitsubishi Houston, Texas 77024??
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Replying to: bimmer_girl (Jan 05, 2007 2:32 pm) at first glance, it looks like a good deal, though most people here recommend not putting money down on a lease. if your car is totaled or stolen, you lose that money. plus, you could put that 2000 in a savings account and collect interest on it. if you are in a 36 month lease, rolling that 2000 into the lease would increase your payments by about 60 dollars or so. |
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Replying to: chwtom (Jan 05, 2007 5:33 pm)  So eventually he said $1500 down and $295/mo for a 36 mo lease. Is there anything I can do to get this down further? I'm desperate, I have to have this car, it's so tricked out! Thanks in advance, much appreciated. 
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Replying to: bimmer_girl (Jan 08, 2007 10:35 am) |
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Replying to: bimmer_girl (Jan 08, 2007 10:35 am) |
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Can anybody tell me how to figure out the taxes on a lease. I thought you can do it one of two ways: 1.To pay upfront: Take the quoted monthly payment and multiply it by the term then multiply the tax. 2. To include it in the payment: Take the quoted monthly payment and multiply the local tax rate. Am I correct? My dealer said if you elect to put the tax in the payment there is a finance charge? Also, what are some of the lease deals that have been out there. |
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Replying to: mictra (Jan 11, 2007 9:57 am) good lord, i wish someone would answer MY question! 
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Replying to: bimmer_girl (Jan 11, 2007 10:25 am)
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Replying to: bimmer_girl (Jan 05, 2007 2:32 pm) First off, let me say that I am thinking about leasing the exact same model/package as you... an XLS with the Nav, Luxury, and Sun and Sound package. One thing I didn't seem to see in your post was mention of whether it was a 2WD or 4WD? I'm planning on the 4WD... just for the piece of mind. I have been trying to estimate lease payments on the above configuration since the very day that Mitsu released the official pricing list, but this had proved difficult... as even Mitsu, itself, had been unable to provide me with info like residual value and such. "Residual what?" asked one Mistu customer service rep as I talked to her about it over the phone. She didn't even know what the term had meant and had no idea who else she could possibly transfer me to in order to answer the question. Needless to say, I had to make some initial guesses and assumptions... but the majority of the leasing calculators/estimators that I tried using these "guesses" all seemed to point me in the direction of payments that were between $375-$400 per month, when paired with a down payment similar to yours and over around a 3-year lease term. But... continue to keep in mind, however, that those estimates were based on what I could only have guessed whould have been the leasing % rate, residual, and negotiated vehicle price back when I had been trying to estimate the lease payments. I have not yet gone to a Mitsu dealership in person to discuss leasing costs, as I am still maybe 4 months away from actually leasing and I do not want to "jump the gun" and start leasing one before then. Getting back to the point, the fact that they offered you an XLS with all three of those option packages for less than $300/month with $2,000 down looks promising to me... especially since, again, my own estimates had placed the monthly payments (under conditions probably similar to yours) closer to the $400/month mark. If you were in fact quoted the above for a 4WD and not a 2WD then I would definately take it into consideration... but of course there might still be a better deal to be found. All I know is that I was quite surprised when I saw your post and the amount per month that they were asking. One thing though... as others have said, I don't recommend a $2,000 down payment... you're better off making the smallest down payment that is allowed. This might be $1,000, or it might be less and this is due to the fact that if something ever happens to your Outlander and it gets totalled, the insurance company will only pay for the remaining balance of the truck...whatever that "remaining" balance is...which means that essentially whatever $$ amount you had put towards the down payment is gone forever. What are some other's opinions on this leasing offer? I'm very excited and curious now! 
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