Last post on Jun 27, 2013 at 10:35 AM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Car Buying, Car Leasing
#43 of 46 Re: Naive about Leasing [paperboyccc]
Mar 13, 2013 (3:15 am)
Almost all advertised lease deals for an unusually low monthly payment requires a considerable CAP reduction. You cannot lease a $60K vehicle for $350 a month with such a reduction.
#44 of 46 Re: Naive about Leasing [billy3554]
Mar 13, 2013 (3:38 am)
That is true. It is simple math. If one leases a $60K vehicle and the residual value is 60 percent the amount which needs to be paid during the lease is $24,000. If a person negotiates the price to $56K, the amount is $20,000. Over a 36 month lease the monthly payment for this $20K is $555. The actual payment would of course be higher due to the money factor.
Low advertised lease prices are designed to entice people to consider the lease. Anyone who believes they can lease a $60K vehicle for only $350 has not read the small print.
#45 of 46 Re: Naive about Leasing [karhill1]
Mar 14, 2013 (7:32 pm)
Yes, it's simple math. Mercedes was offering vehicles with around 74% residual and 13% off. On a $60K vehicle the amount to be paid in 24mos would be $7,800 or $325/mo plus the money factor. It's not common, but read the E-class thread for examples.
Mercedes never advertised this deal - but several buyers were savvy enough to recognize it and negotiate it.
Jun 27, 2013 (10:35 am)
I negotiated a lease for my fiancée on a new chevy traverse however, when she went in to do the paperwork they totally changed the deal from 544 a month including tax to 679 by telling her that the deal inalready made disnt include tax etc.. but it did, they where just being dishonest! Also, they sold her unnecessary tire ins and appetance package etc... That she felt she was forced into. I was originally going to use my 1k off lease incentive because I lease a BMW but, she decided to use usaa pricing instead and the deal has been done for over a week and the dealer called and said he wants to bring him a check for 1k or, a copy of one of my lease statements. I am not giving those crooks anything after they where so dishonest not to mention I am not on the deal at all! Now we are getting calls from gmac about her previous car asking why it's not paid off yet? This can't be legal or ethical and, I am so upset that all this is happening. I don't want to give them anything after they treated her this way. What should I do?