Last post on Mar 14, 2013 at 8:32 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Car Buying, Car Leasing
#10 of 45 Re: "I'm not doing this deal on a loss" [plasticmoonrai]
Mar 02, 2011 (7:25 pm)
One dealer's loss may be a deal for anther dealer , or for an auto broker for that matter. Diffrent dealers get different incentives from the factory based on volume and volume of sales for the previous month .
So when a dealer tells you that they cannot do the price , they probably don't want to do that price because of a small proffit (keep in mind that the salesman gets a percentage of the proffit , so he may not be interested in selling a car for a mini deal of 50$ or 100$) , or simply that dealer did not meet the quota last month and they don't have all the incentives from the factory .
That's about it for today ,
Only advice : Use an Auto Broker when buying a new car , or be prepared to do the research and shop at least 5 dealers , to make sure that you get a good price . Also just because a website told you a price , does not meen that is a good price for thatmonth . I have seen sites like truecar that give a average price , and we could beat that price by more then 5.000 so it is all relative because incentives change on a monthly basis for most cars .
#11 of 45 Re: Leasing brokers [daniel12304]
May 16, 2011 (9:18 am)
Any brokers people can recommend in NYC?
#13 of 45 Negative equity trade- in
Jun 29, 2011 (12:03 pm)
I currently have a lexus with approx. 3,000 in negative equity. I would like to trade in my car and possibly lease to keep my payments lower then financing a new vehicle. Would this would be a good idea? I would be interested in a mercedes c class or audi a4/a5. What would be the best plan of action for this situtaion , so I know what I am getting into when I go to the dealer.
#15 of 45 Re: Negative equity trade- in [tntgirl12]
Jun 29, 2011 (2:03 pm)
I'm sure this isn't what you want to read but the best plan of action is to keep the Lexus and keep paying on it until at least the time at which you're no longer upside down.
When you roll negative equity into the next vehicle it means you're even further upside down on it's loan. It'll take longer still to hit the break even point and actually gain some equity. You will likely also wind up paying more in interest changes and may not qualify for the best loan rates and/or be forced to carry (and pay for) gap insurance.
Financially, it just doesn't make sense.
Of course, finances aren't everything. If the Lexus no longer fits your life - no longer holds the entire family, lost job & can't afford payments, etc. - then trading it in may be the appropriate thing to do.
Personally, I buy cars that I believe I'll be comfortable with for 8 or more years. By doing so I enjoy several years with no payments and have positive equity to use when the time comes to buy my next car. My last car I bought in Feb '99 with 15% down, financed the rest for 2 years so it was paid off in early '01, and kept it until Dec '09. I enjoyed eight and a half years without payments and was never in a negative equity position.
#16 of 45 Re: Negative equity trade- in [fushigi]
Jun 29, 2011 (2:35 pm)
I am considering this option and will try and pay more off on the car in the mean time. That is what I was afraid of not being able to negotiate to get a fair deal because of the negative equity. Thank you for the advice.
#18 of 45 Re: Negative equity trade- in [daniel12304]
Jun 29, 2011 (2:54 pm)
Thank you for the advice. I think I will look into using a car broker to help with the lease. I am in the NYC area. Are they any specific places I can try and sell my car to or get appraisals from besides the dealership I would be leasing the car from? I have considered private sale. I want to put as little money down as possible so Im just researching to be better prepared. When would be the best times of year or moth to lease a car?
#19 of 45 Trade-In Value More Than Lease Pay-Off
Oct 14, 2011 (6:06 am)
I am in a Mercedes E350 lease that terminates in March of 2013. Yesterday, I checked the payoff of the lease and noticed it was less than the trade-in value as shown here on Edmunds. Would a dealer be interested in paying off the lease to obtain my vehicle as a used vehicle in order to sign me to a new lease?