I've finally decided to lease a silverstone 350z.

What I would like to know is what would you all think what be a good monthly, considering 10% down I'm shooting for about 400.00 to 420.00 for 36 month 15000 miles /yr.

Basically anyone have any experience with leases? I have an equity line that I could purchase the car but just not sure I want to own or use the money. What is a good lease please describe.

Also I believe after calling my bank that according to the kbb im 2000 under water on my current car considering trade in value any thoughts.

 

First of all, you want to put as little down as possible. Second, residuals on the Z are running at around 54% right now on a 39 mo. lease. Not sure what the money factor is.

Nissan's normal miliage is 12k, so you are going to pay extra for 15k. Besides, if you go over you can just sell the car at the end of the lease and make the buyer pay the difference.

The lease on the Z is pretty good right now. But I can tell you with taxes and 10% down on a $30k car--- don't hold your breath on getting payments down to $400/mo.

 

Leases only make sense if you want the car for three years or less, otherwise it is cheaper to buy the car and sell it when you want a new one. IMHO

 

You do better short term in a lease, but long term buying is better. However, with the current residuals leasing is very attractive.

Regardless, I don't see getting the payments under $400 unless you go with the base and few options.

 

It maybe hard to get the payments down to 400. But leases can be negotiated the same as when buying the car. To give you an idea this was my deal.
39 months
536 per month after tax
500 down
12000 miles a year
That was for a track model with all options except nav.

If you want the base model you might make it if you have a good dealer. Good luck.

 

What did they adjust for you? When I was finishing mine up, they really didn't leave any room for negotiations. What was it they negotiated with you on?

What was the price of your track out the door?

 

This is how the deal went down:
Walked in on Saturday and had them pull the CS track off the floor so I could test drive.
Then started to strike up a deal, but I didn't want a track. I was looking for a performance model which they didn't have.
They ran some numbers for me and gave me a price for a performance when they find one.
No good, my limits 500 month before taxes.
They ran the nombers again and came up with 499, good to go, find me one.
Salesman called me monday with 4 performance and 1 base, none the color I wanted, chrome silver.
He said he would keep looking.
I might mention that the whole time they were pushing the one thay had pretty hard, but unless they would come down to 500 it wasn't happening.
2 hours later the owner of the dealership called me and said is I went with 39 instead of 36 and 506 monthly payment the one on the floor was mine. No brainer.
CS Track out the door for just over 33,800.

You can negotiate on the vehicle cost, residual value, and rent charge. Those last two are were the rest of the savings came from.
Also 75 miles on the OD, this helped too.

 

This is the first car I've leased so thanks for the info. Im going to go to the dealer then tommorrow expecting to pay slightly less then 500/month with 3000 down does that sound right wrong?

 

Without knowing how much the car is no one can help you.

 

Be careful with that down payment. First, every $1000 down translates into about 30 bucks a month on a 36 month lease, slightly less on a 39. So three grand should lower your payment by about $90. Best off to get your best deal first, then decide on money down after, otherwise the dealer may swindle you. Second, gap insurance doesn't cover your down payment, so if it gets stolen or totaled that money is history. Try putting down as little as possible. Generally speaking, don't lease for longer than 39 months. And typically buying a car after leasing it doesn't make sense since you are trying to get the lowest lease payment possible, therefore a small depreciation amount and a high residual value. You may end up paying more for the car at the end of the lease than it is worth. If you want to buy it eventually you are better off buying it up front. These are generalizations, and I'm no expert, just my take on it.

Ultimately, you really need all the factors of the lease deal (MSRP, Capitalized Cost, Residual value, Money factor, depreciation, term, other fees or charges, etc.) to determine if it's a good deal.

There's some decent software out there that can help. If you have not leased before spend some time to get a bit of an education. You'll be pissed off later (likely for 36 or 39 months) if you figure out that you got ripped. Try to get some info on what others are paying, but compare apples to apples if you do. Things such as MSRP, lease term and out of pocket/money down numbers will vary from dela to deal.

Here are a few educational sites that sell lease software to help analyze the deals:

http://www.leaseguide.com/index2.htm
http://www.leasewizard.com/

Good luck.