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Originally Posted by 6swhite350z
your telling me that when the company starts calling you regarding the purchase of your leased car towards the end of your term, you cannot negotiate the residual? i hear it everyday, so ill double check on monday, but i will not take your word for it
no you can not negotiate the residual value of the vehicle.... it is in a contract that you sign at the begining of the lease.... you work for a very unethical dealer if you hear that every day.... if you dont know what you are talking about then dont post it....you have not one but 2 dealers telling you that you havent a clue what you are talking about..... stick to posting about cars you have for sale or cars you traded in.... stop putting bad information out there |
Originally Posted by 6swhite350z
but i will not take your word for it
dude.... i have been doing this longer than you have probobly even been old enough to work.... you have been selling cars for a month.... you dont know what your talking about.... |
When you lease a car, you know when you sign the lease how much the payoff will be when the lease is up. It's calculated by the agreed upon mileage and the term of the lease. If you put more miles on the car than agreed upon, then you don't get penalized UNLESS you're just handing the car back over to the dealership. If you keep, sell, or trade it in then you must pay the agreed upon depreciated value, which is gonna be more than the current value if you put more miles on it than the number of miles used when calculating the depreciated value.
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Originally Posted by 6swhite350z
they wont penalize you for having more miles than you were allowed.. but of course the value of your car will be less if you have higher miles
But of course, they really don't mean it.:rolleyes: And of course, thye won't hold you responsible for the reduced value of their vehicle.:rolleyes: Better have a chat with your sales manager Monday. And just FYI for others reading this, what they do is simply roll the outstanding charges from the first lease into your monthly payments onto the new lease. Like I posted in another thread, car dealers and sales people are in business. They are going to make a profit, or go out of business. If you think they are just going to overlook the reduced value/additional mileage, I got this bridge for sale...:) |
I unfortunately leased my 04Z... I regret doing it at this point, but I DO love the car. I leased it in May of 2004, Enthusiast, 6M, with $1000 at signing. It's a 48month lease, 15k miles per year, and I'm paying $398 / month AFTER taxes. I think I got a decent deal, but still wish I would have just waited and purchased a used Z instead.
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Originally Posted by RevLimitZ
If you put more miles on the car than agreed upon, then you don't get penalized UNLESS you're just handing the car back over to the dealership. If you keep, sell, or trade it in then you must pay the agreed upon depreciated value, which is gonna be more than the current value if you put more miles on it than the number of miles used when calculating the depreciated value.
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Originally Posted by 6swhite350z
they wont penalize you for having more miles than you were allowed.. but of course the value of your car will be less if you have higher miles
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i am paying 359 a month with 3k down for 36 months 04 performance package hope that helps
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My 2 buddies were car salesmen, he tells me that when you lease, you will end up paying more than when you buy it. Somehow they will find something to lower the value of the car, I never heard of anyone gain more by leasing than owning it.
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I am leasing my 05 35th Anv. $489/month $1k down for 60 months 12k miles a year. I don't drive alot. I have had the car about 9 months and only have 4600 miles on the car. The residiual value is $13k. I rolled a good bit of negative equity into the loan. I don't regret it for a moment.
As far as the lease buy issue, leasing or buying it not a one size fits all. Buying is terrible for someone who doesn't drive more than a 1000 miles a month, and gets bored with cars in a short time. I personally love leasing, because it fits for me. I don't keep cars until they die. I have had 5 cars in the past 6 years. Leasing works for me. As long you truely understand the terms and are fine with it, then lease. Otherwise buy, it truely is that simple. |
sucks to hear people lease a car for 499. when i bought my z for 28000 otd at 420 a month 39 down.
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but they are leasing at 36 months... you had to take it 72 months to get it that low.... big difference
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this thread is funny especailly everyone that said leasing is a waste of money.
****NEWS FLASH**** Not everyone keep and drive their cars until they die like some have suggested. I change cars like I change underwear. 5 years in the same car? Pleeeease! |
Originally Posted by Gman2004
this thread is funny especailly everyone that said leasing is a waste of money.
! And leasing gives people the opportunity to own a more expensive car for an even lower monthly payment than buying on credit. If you like to change cars every few years, leasing is an appealing option. bill |
Originally Posted by h8rain
I am leasing my 05 35th Anv. $489/month $1k down for 60 months 12k miles a year. I don't drive alot. I have had the car about 9 months and only have 4600 miles on the car. The residiual value is $13k.
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I am leasing. I put $7000 down and I pay $389.00 a month, for 42 months. If you lease and you don't plan on keeping it, don't get too mod crazy. That's my only advice.
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7000 down on lease, damn man you crazy, thats 23338, did you add up the math. you shouldnt pay for than 55% of the car, could of done, 0 down 489 a month and used the rest of the money for Mods
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Originally Posted by risin
Isn't that nearly $30k after 60 months?
Yes but the sticker price of the car was $41k (which I got down to $32k). I rolled alot of negative equity into the loan, that is why it is so high. It sounds weird, but at the rate my 03 Miata was depreciating the extra money I am paying, but take the rest of the loan almost to even out. I am not a good example of a lease, because of the negative equity. |
Originally Posted by TheGest
I was thinking 399 a month with 1000 down for 36k months is a good deal for a enthusiast Z. What about you guys?
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and basicly so is the typical person that does the 60-72 month purchase... 80% of the people that finance a car trade before its paid for...
when you finance a car you dont own it... the bank does... |
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