[Blue4Me]

500/month 0 down 12k/year
due at signing including security deposit first month and mv fees, $2100
All options except wood trim.

 

[ISFAN]

Some questions first:

1. How long of a lease?

2. Is the 500.00 including tax? Remember you pay tax with each payment on a lease.

3. You say 0 down, but it does not look that way, if you have to come with 2100.00. Yes, 500 first payment and 500 security. I assume the MV is motor veh.(tag) fees? If so that should only be around 100.00 bucks or so. So it looks like you are putting down about 1k.

4. What is the cap cost on the lease?

5. What residual are they using.

Once you provide the answer to these questions, I will be able to tell if it is a good deal or not.

 

[Agent Smith]

Dealers often try to use monthly payments as the end all be all to get you to sign the deal. Watch out...ask all the questions that are listed above..find out what the price of the vehicle is (although not many are doing better than MSRP). I plan to to put a 2-3K down and lease for 3 years (@12K/per year) to get a better rate..then pay cash at the end It all evens out - they will screw you so just accept it and try to minimize your squeal. Leasing is nice if you are tight on upfront $ and HAVE to have it...

 

[Blue4Me]

ISFAN, AgentSmith
Thanks for the advice.
Here is what I know.
Term: 39 months
Monthly payments: $500/month
CapCostReduction: $0

Due at signing:
$500 First Month
$500 Security
$595 Bank Fee
$436.50 BS Fees(Some were "hard coded" on order form)...MV($93.50),DocumentaryFee $199.00 Credit Inquiry $15, Vehicle Protection $129, Glass Etching ~$100

12k Miles/year

Selling Price: $33,244(everything but luxury wood trim)
Residual Price: $22,859 (after 3years 3months)
Sh*t...forgot to ask if tax was included...I hope this info is good enough for you to make a call on.




[This message has been edited by Blue4Me (edited September 07, 2000).]

 

[ISFAN]

In my honest opinion I do not believe it is a good deal.

Here is the Lease deal I go. Now I live in Florida.

Cap Cost 32,300( MSRP was 33,800). Silver Is leather, sun roof,power seats

Payment - 468.72 + tax = 501.53

Down: 500.00 First Payment. 450.00 bank fee (note that this is a fee that is charged by the leasing company, standard) and tag fees which were about 90.00. That was it. No cap reduction.

Residual was 22,646.00.

That was it out the door. No other junk fees.

Note, your credit rating has a lot to do with how good of a money factor you will get on your lease.

It sounds to me like the dealer you are working with is padding the costs big time with those fluff fees. You can do better.

Let me know how it works out.

 

[ISFAN]

Shoot, one more thing. I have a 36 month lease. Do not fall for that extra 3 months. They are just getting more from you. Instead of cap reduction they added 3 months to the lease to keep your payment where you probably wanted it.

I would also bet that your 500.00 does not include tax. You could count on your payment being around 30.00 to 40.00 more depending on the tax in your state/county.

 

[ISFAN]

Blue,

Did you get the lease?

 

[Blue4Me]

ISFAN,
I'll let you know tomorrow...I'm going for delivery and will see if they can do a better deal before I sign papers. By better deal I mean $500 including 6% tax, If that is not already the case. I think tax is included because I specified it when I made my offer and it was not in the calculation of my upfront payments.


I think they approved my credit through the recent college graduate program which allows no security deposit...so nix 500 from the 2000+ upfront in payment and fees.

Anything I should look out for when signing papers? Hidden, hidden, hidden costs when signing? Like chair,table,pen use fee.
They'll probably label that "Administrative Fees".

Thanks again for your help.

 

[ISFAN]

Not sure if you will get this on time. I was away from my computer all day yesterday.

Make sure the itemize out the fees. The prep and etch I would get that removed.

let me know how you did.

Make sure they show you the cap cost on the lease and it is what you agreed to pay.