350z Lease
11-10-2002, 06:13 PM
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350z Lease
My dealer has quoted me a lease price on a 350z performance. Here are the terms: Based on msrp, 530 per month including tax and title/license, 39 months, 2000 down, 15k miles per year.
My question is: what kind of deals did you guys get on your lease? I want to know if i'm getting a good deal. All and any responses would be appreciated.
Thanks
My question is: what kind of deals did you guys get on your lease? I want to know if i'm getting a good deal. All and any responses would be appreciated.
Thanks
11-10-2002, 07:49 PM
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Re: 350z Lease
Originally posted by mtnbkrlts
My dealer has quoted me a lease price on a 350z performance. Here are the terms: Based on msrp, 530 per month including tax and title/license, 39 months, 2000 down, 15k miles per year.
My question is: what kind of deals did you guys get on your lease? I want to know if i'm getting a good deal. All and any responses would be appreciated.
Thanks
My dealer has quoted me a lease price on a 350z performance. Here are the terms: Based on msrp, 530 per month including tax and title/license, 39 months, 2000 down, 15k miles per year.
My question is: what kind of deals did you guys get on your lease? I want to know if i'm getting a good deal. All and any responses would be appreciated.
Thanks
11-10-2002, 07:51 PM
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I wouldn't ordinarily lease the car either but for business purposes I must do so. At any rate, my company pays the tab so I'm not going to complain. Although I won't get the car till Jan or Feb, my dealer estimates 365/month for an Enthusiast at MSRP with 5K down, 48 months (again for tax/business purposes) and 15K mi/year.
11-10-2002, 07:56 PM
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You should purchas the Z. If you have to lease it then you probably can't afford the maintenance costs.
Just to give anyone wondering about costs of touring model.
Mine is loaded with every option available. Sticker Price $37,112
Payed $10,000 down and financed the rest (60 month/ 5%). The monthly payment is $605.
I wouldn't pay cash for the car unless you have more money than sense. You stand to make a lot more investing 40K in stocks and treasury notes.
If you aren't savvy enough to make sound investments then pay it outright.
Just to give anyone wondering about costs of touring model.
Mine is loaded with every option available. Sticker Price $37,112
Payed $10,000 down and financed the rest (60 month/ 5%). The monthly payment is $605.
I wouldn't pay cash for the car unless you have more money than sense. You stand to make a lot more investing 40K in stocks and treasury notes.
If you aren't savvy enough to make sound investments then pay it outright.
11-10-2002, 08:07 PM
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Originally posted by d8abusa
You should purchas the Z. If you have to lease it then you probably can't afford the maintenance costs.
Just to give anyone wondering about costs of touring model.
Mine is loaded with every option available. Sticker Price $37,112
Payed $10,000 down and financed the rest (60 month/ 5%). The monthly payment is $605.
You should purchas the Z. If you have to lease it then you probably can't afford the maintenance costs.
Just to give anyone wondering about costs of touring model.
Mine is loaded with every option available. Sticker Price $37,112
Payed $10,000 down and financed the rest (60 month/ 5%). The monthly payment is $605.
Take the same sticker price. Lease would be around $450 a month for 60 months. Typically no down. (I have never put cash down on a lease, it defeats the purpose). In the end of a lease, you will have paid $27,000. If you want to walk away, then you don't eat the rest of the cost. If you want the Z, then you will have to finance the remainder. On that price, around $18,000, give or take a little. End result of a lease would be around $46-$47K (with new finance charges included)
Compare the $47K to your total of $46.3K (605*60+10000), and there isn't much difference... except the lease had the choice of bailing out if desired. Also, the lease would have $155 a month to use elsewhere.
To me, it looks like leasing is a better choice.
If nothing else, please stop the "you cannot afford it" routine.
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11-10-2002, 08:44 PM
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Re: 350z Lease
Originally posted by mtnbkrlts
My dealer has quoted me a lease price on a 350z performance. Here are the terms: Based on msrp, 530 per month including tax and title/license, 39 months, 2000 down, 15k miles per year.
My question is: what kind of deals did you guys get on your lease? I want to know if i'm getting a good deal. All and any responses would be appreciated.
Thanks
My dealer has quoted me a lease price on a 350z performance. Here are the terms: Based on msrp, 530 per month including tax and title/license, 39 months, 2000 down, 15k miles per year.
My question is: what kind of deals did you guys get on your lease? I want to know if i'm getting a good deal. All and any responses would be appreciated.
Thanks
1) As a general rule, it's best not to put money down on a lease, nothing, nada just 1st payment. If the car is totaled while you are still upside down (i.e. the payoff exceeds the value), that money you put down is lost even w/ gap insurance. For example, take the extreme and imagine you put 5k down. You total the car 2 months later. Due to the down payment, the amount you owe is equal to the value of the car. You just lost 5k.
If you hadn't put money down, the value of the car would be less than the amount owed and gap insurance would cover the difference.
2) The models with the highest residual in order (according to NMAC's numbers) are 1) base, enthusiast; 2) touring; 3) performance and track. Therefore, unless you intend to buy the car after the lease, the performance model is probably not a good model to lease. You could lease a touring (6mt) for the same money.
3) If you want, post the residual, the money factor, and the msrp and I will work out the numbers to see if any b.s. charges have been added.
11-10-2002, 09:35 PM
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Insurance
Remember.. most financer will require 100/300/100 and at most $500 deductable. So, that will add up cost.
If you don't want to purchase, go with the model with highest residual value.
Lease or Buy, up front negotiate the vehicle price and THEN calculate the numbers. Also, make sure in the papers, it says the exact numbers too. Here's an example why:
Say , Agreed on vehicle price: $35K
est. Residual value after 48 months : $20K
You'll pay for depriciation: $15K
Monthly Rent Charge (comes from APY%): $50
Total monthly charge before tax: (15000/48)+50 = $362.50
Now consider this:
Rent Charge is changed to: $100 and the total is still $362.50. In that case, you will pay for depriciation is $12600. So, at the end of the lease if you want to buy the car you will have to pay $22400 instead of $20000.
So, don't just be happy to see the number you just negotiated with the dealer, make sure that they break it down in the contract exactly the same way.
Also, instead of downpayment, put 3 or 4 times the security deposit, that way you will reduce your rent charge, thus the monthly payment. Also, in the event of lease termination by totalling the car, you won't loose that money, you will get it back.
If you don't want to purchase, go with the model with highest residual value.
Lease or Buy, up front negotiate the vehicle price and THEN calculate the numbers. Also, make sure in the papers, it says the exact numbers too. Here's an example why:
Say , Agreed on vehicle price: $35K
est. Residual value after 48 months : $20K
You'll pay for depriciation: $15K
Monthly Rent Charge (comes from APY%): $50
Total monthly charge before tax: (15000/48)+50 = $362.50
Now consider this:
Rent Charge is changed to: $100 and the total is still $362.50. In that case, you will pay for depriciation is $12600. So, at the end of the lease if you want to buy the car you will have to pay $22400 instead of $20000.
So, don't just be happy to see the number you just negotiated with the dealer, make sure that they break it down in the contract exactly the same way.
Also, instead of downpayment, put 3 or 4 times the security deposit, that way you will reduce your rent charge, thus the monthly payment. Also, in the event of lease termination by totalling the car, you won't loose that money, you will get it back.
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