Just wondering the numbers out there. I got mine for 39months, 2k down, 480 amonth and had lo jack put on it for an extra $20 a month, so $501 total. Its an enthu with no leather. I am sure there are variants out there, but just wondering what fellow Z owners got.

 

i think this car is not worth it to lease, i pay 0 down, 600 a month 5, year for a 6spd enthu

 

residual rates are SO bad on the Z it is cheaper to purchase. I doubt you will find too many lease people here. maybe one sucker per thousand.
Now if your company is gonna pay for your lease . . . go for it

 

Leasing is the way to go if you meet certain criteria. Whats the difference if you purchase except that your payments are higher, you have to pay a large lump for sales tax and you will have to worry about selling the car when needed, residual value still applies regardless whether you buy or lease. Have fun getting raped on a trade in or selling to some teenage yahoo scraping to pay 16K for your used Z. Unless you put a crapload of miles on a car or don't have a second vehicle, like I do, then buy. I'll have a brand new ride in four years when I'll be plenty tired of the 07 Z.

To answer you question though.

I leased my Z for 4 years, (42% residual) and my payments are 430, insurance around 70. The car was 28760. (see sig)

So how did I get screwed?

 

Oh and I might as well put up a pic or two to document my horrendous decision to lease.

 

Absolutely correct.

As the old saying goes..."pay me now, or pay me later"

bill

 

$ 527 per month
no money down
own not lease
72 months

 

there are pros and cons for buying and leasing...it all depends on the person buying. A lot of times, an older person that likes changing cars every few years might be more inclined to lease while a younger person looking to hang onto the car for a while would want to buy.

 

What's the difference?

In 5 years you'll have a brand new ride. In 5 years I'll have a brand new ride AND a 350z.

 

Your purchase over 5 years would have been a lower payment, and that one extra year of payments would have bought it outright . . . no residual . . . pink slip.
They got you for over $20k ($20640) Not including tax. ( 7.75% here = $1599.60 ) and if you want to get the pink slip . . you will have a 42% residual?? That is a $12079 (plus tax = $936.12 ) buy out. So $32719 ( plus $2535.72 tax = $35254.72 ) is what you payed for a $28000 car.
Mine had a sticker of over $27000. My payments are a hair under $400 for 5 years . . .then I will own it.

 

People please listen to me


DO NOT LEASE A 350Z!!!!!

 

I've always advocated against leasing, but this coming from a guy who's work in auto financing his words should hold some weight.

 

wrong, my payment would have been in the 600's with a fat tax and downpayment. You are leading people astray, get your facts str8 before "helping" people. You can't even read the post right, the lease was for 4 years not 5, and the interest rate was not specified, which was around 6.2% not 7.75. It would have been the same buying so plug that into your calculator and smoke it.

Leasing makes sense for people who like to drive new cars and don't want to deal with selling a 'used' car. Its a wash when you do the math, I've leased many cars and 'for me' its the way to go.

Instead of presenting "opinion" stick with the facts and let people decide for themselves. I for one got a great deal and my payment isn't through the roof.

 

Apples and oranges my friend.

In 4 years I will have a brand new "insert Hot Car for 2011 here" with a single car payment, you'll have an old Z, that still has some equity in it and you'd throw down for a new car and payment while keeping the Z? Kinda defeats the purpose of buying doesn't it? People who buy tend to sell or trade in their current 'paid off' car to make use of the equity built up over the term or just run the thing till it croaks. In affect you're spending alot more than me in this particular scenario.

True I have a perpetual car payment but I also am driving a new car and never have to worry about mechanical issues and upkeep associated with maintaing a 4+ year old vehicle. Thats why I 'own' a beater... need to haul the drums and guitars in something.

 

Most people that "buy" new cars never actually "own" them anyway.

If you buy a car with a 60-72 month loan, you will usully be "upside-down" (meaning you owe more than it worth) for most of the loan period. And unless you keep it 60-72 months, you never really own it at all.

Unless you really plan to keep a car 5 years or more, leasing often makes sense.

bill

 

You are the one who needs a little help in the learning to read department.
I know the lease is for 4 years. You obviously suck at math too, cuz I did the math for 4 years. And the 7.75% was for TAX, not interest, you fool. And on a purchase you will pay tax at todays rate, instead of the inflated monthly rate over the next FOUR years.

You DID NOT get a good deal!!!!! Please, next time you buy a car, come get it from me!!!! I want to make that much on every customer. My guess is that you will make about 10 payments JUST TO PAY THE SALESMANS COMMISSION!!! They charged you OVER msrp, and stuck it to you in the rate. Wait till you return it and they charge you for new tires, every ding and rock chip, and whatever happens - do not go over on miles!!!!

My car is worth more, I pay less, and when I am done . . . I do not have to give it back!!!

Thank you Z33

 

You're post said 5 years, so am I supposed to just understand you meant 4 when you typed 5? get real.

Do you even have a Z? Why are you here? to berate people who 'know' leasing is the best decision for them. I paid well under MSRP (below invoice infact, used VPP) and will be able to easily keep it under miles as I own a second car. I take care of my leased vehicles.

MSRP was 31550
I paid 28760

How is this over MSRP?, Do I have to scan the window sticker? jeesh... Where are you getting your info from? certainly not from people who have actually purchased and or leased Zs.


As for getting a car from you? You're know-it-all attitude, when obviously misinformed, will get you no business here, that I guarantee.

Please...I beg you...Stop helping us!...

Sorry Trodis didn't mean to spoil your thread, just be happy you got a Z and have fun with it, I certainly am!

 

$32719 + tax is what you paid. Do the math again.
And again, mr english major, I made a comparison between the 4 year lease and a 5 year purchase.
I finance AT LEAST 5 cars a day, and have for over 7 years. You buy 1 car ( sorry, lease ) every 4 years. Who do you think has their numbers straight.

But if you enjoy your car, and like what you paid . . . . then you are a happy customer.

 

I will never lease again, I rather buy my car pay it out have no payment, and if I want get another car, never ever ever am I leasing again, and If I cant afford buy that car I wont lease it

 

Uh how is this possible? You are saying on a purchase if I pay more towards the car's principle I will be upside down vs. paying less on a lease? Number 1 if you have to do a 72 months purchase and finance the entire 72 months then you are no better off leasing at 48 months. Plus having to do a 72 month note means you are trying to get into too much car. In a lease you are upside down for more of the lifetime of the note. When the car rolls off the lot you automatically are in the hole with neg. equity. Why do you think people buy GAP insurance? So starting out you are in the red and based on what you are saying if I pay more on a 60 month note vs. less on a 48 month lease where the money factor rate is generally higher than what my APR would be on a purchase I am actually going to be under in the purchase longer? Doesn't make sense. And you guys have to remember the guarantee residual is only good if you stay within the mileage terms of your lease. Once you go over and you trade that car in it's going to be worth exactly what the market dictates it to be at black book wholesale value. Leasing only makes sense if you are the following:

1) You have some sort of recourse on your taxes to write it off which generally mean business related, or you fill a schedule F or C on your taxes.

2) You are wanting to get into a high end car just for the experience but don't plan on keeping the car.

3) You want a car you can't afford on a regular purchase so you have to finance only a portion of it at a lower payment through a lease.

4) You are the type who wants a new car every 2-3 years and you don't care about the neg. equity being rolled over everytime.

I bought my Z on a 60 month note and I paid it off in 2 years. How do I not own my car? It's all mine. I have the title. What do you have at the end of your lease?

1) Negative equity because you drove the car as your DD. Unless of course you were able to stay within the mileage restriction because you had another car.

2) You can try buying the car at the inflated residual. By then you've paid way too much and you're no better off doing a 72 month purchase from the beginning.