Mitsubishi Outlander Lease Questions

Replying to: bimmer_girl (Jan 11, 2007 9:25 am)

Replies to this message:
• ryce69 (Jan 16, 2007 1:19 pm)

Replying to: bimmer_girl (Jan 05, 2007 1:32 pm)

Hiya Bimmer Girl,
 
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!

Replies to this message:
• dodo2 (Jan 12, 2007 4:59 am)
  • bimmer_girl (Jan 12, 2007 5:30 am)
    • mrmister2000 (Jan 22, 2007 2:35 pm) and 3 more...
  • mrmister2000 (Jan 12, 2007 5:54 pm)
    • bimmer_girl (Jan 12, 2007 7:20 pm)
  • Car_man (Jan 21, 2007 9:03 am)
    • mrmister2000 (Jan 21, 2007 7:18 pm) and 1 more...
    • dodo2 (Jan 21, 2007 7:49 pm)
    • wlj (Feb 07, 2007 12:54 pm) and 1 more...

Replying to: mrmister2000 (Jan 12, 2007 1:30 am)

Replies to this message:
• bimmer_girl (Jan 12, 2007 5:30 am)
  • mrmister2000 (Jan 22, 2007 2:35 pm)
    • bimmer_girl (Jan 22, 2007 3:42 pm) and 2 more...
• mrmister2000 (Jan 12, 2007 5:54 pm)
  • bimmer_girl (Jan 12, 2007 7:20 pm)
• Car_man (Jan 21, 2007 9:03 am)
  • mrmister2000 (Jan 21, 2007 7:18 pm)
    • bimmer_girl (Jan 21, 2007 7:32 pm)
  • dodo2 (Jan 21, 2007 7:49 pm)
  • wlj (Feb 07, 2007 12:54 pm)
    • mrmister2000 (Feb 07, 2007 8:04 pm)

Replying to: dodo2 (Jan 12, 2007 4:59 am)

Thanks so much for the reply mrmister, In fact the down payment was $1500 and I apply for the Education Edge discount, so I only have to pay $1000 down, and $295/month. It is a 2wd, as I live in Houston and have no need for a 4wd. I am pretty sure I'm getting a good deal, because I've done the calculators myself but they ALWAYS overestimate the monthly payment. I think I'm going to get this car Saturday. Probably have to order it as no one seems to have the navi equipped models on their lot, and especially not in black/black.
 
Excited!!!

Replies to this message:
• mrmister2000 (Jan 22, 2007 2:35 pm)
  • bimmer_girl (Jan 22, 2007 3:42 pm)
    • mrmister2000 (Jan 22, 2007 3:51 pm)
    • crispyj (Mar 13, 2007 9:02 pm)

Replying to: dodo2 (Jan 12, 2007 4:59 am)

I'm not sure what the current lease rates are, either. Since the info has been hard to come by and the only leasing offer that I am aware of is the one on the Mitsu site for an ES model, I have long been using that as a starting point to try and estimate what my own leasing payments would be (using the difference in MSRP between that model and the MSRP of the model/options that I would like to have). Doing this acheived results similar to those I had previously come to when plugging random, estimated numbers into various 3rd party leasing calculators.
 
Since I pretty much want the same vehicle config as Bimmergirl, only in 4WD instead of 2WD, I suppose that means that whatever the current leasing rates, I could expect to see an additional $50 or so per month added to my payment, in addition to what had been quoted to Bimmergirl.
 
It's still less of a monthly payment than I had been expecting, so I still see it as promising.

Replies to this message:
• bimmer_girl (Jan 12, 2007 7:20 pm)

Replying to: mrmister2000 (Jan 12, 2007 5:54 pm)

Replies to this message:
• mrmister2000 (Jan 14, 2007 8:57 pm)
  • ryce69 (Jan 16, 2007 12:53 pm)
• mrmister2000 (Jan 14, 2007 9:13 pm)
  • bimmer_girl (Jan 15, 2007 5:27 am)
    • mrmister2000 (Jan 15, 2007 5:57 pm)

Replying to: bimmer_girl (Jan 14, 2007 4:23 pm)

Congrats! It sounds like the other dealership started to get wind of the fact that you "really, really" wanted this truck and had thought that they could get away with jacking up the price. Way to stick to your guns!

Replies to this message:
• ryce69 (Jan 16, 2007 12:53 pm)

Replying to: bimmer_girl (Jan 14, 2007 4:23 pm)

Replies to this message:
• bimmer_girl (Jan 15, 2007 5:27 am)
  • mrmister2000 (Jan 15, 2007 5:57 pm)

Replying to: mrmister2000 (Jan 14, 2007 9:13 pm)

Replies to this message:
• mrmister2000 (Jan 15, 2007 5:57 pm)