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

 

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.

 

Sure. That's why the agreements all have language that states something to the effect of: "...all miles in excess of xx,xxx will be charged at a rate of 15 (or 20, or whatever) cents per each additional mile." Here in NC, even the dealership ads include similar language.

But of course, they really don't mean it.

And of course, thye won't hold you responsible for the reduced value of their vehicle.

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.

 

This is correct.

 

If you do not return it to the dealership at the lease expiry, then that is correct.

 

i am paying 359 a month with 3k down for 36 months 04 performance package hope that helps

 

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.

 

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.

 

but they are leasing at 36 months... you had to take it 72 months to get it that low.... big difference

 

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!

 

Buying cars on credit is also a waste of money. But it is a requirement for a substantial portion of the population.

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

 

Isn't that nearly $30k after 60 months?

 

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.

 

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

 

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.

 

youre going to rent for 36,000 months?!?!

 

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...