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Discussion Starter · #1 ·
I was just quoted in NJ for a SE silver w/o nav, ecm and compass, mats, cargo net 2500 dwn 349 a month for 36m lease with 12k miles a year. It does have the wheel and door edge guards and pinstripes. Does that sound like too much? Thanks for the help.
 

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dude stick to the 2000 down 199 deal they are offering!

QUOTE (Brian Kelly @ Jul 13 2010, 05:38 PM) index.php?act=findpost&pid=341478
I was just quoted in NJ for a SE silver w/o nav, ecm and compass, mats, cargo net 2500 dwn 349 a month for 36m lease with 12k miles a year. It does have the wheel and door edge guards and pinstripes. Does that sound like too much? Thanks for the help.
 

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that does sound high for a lease. but i dont know your credit rating, or what you may have traded in (for a loss). the last thing i leased was a santa fe, sticker 25,700. i had to put 2500ish down and the payments were $266... that was with no trade in.
 

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Discussion Starter · #4 ·
Tier 1 credit. No trade in. Only the GLS is $199 per month and thats just a basic GLS. Their $2400 down isn't really $2400. Its that pus tax and other fees.
 

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QUOTE (Brian Kelly @ Jul 13 2010, 06:38 PM) index.php?act=findpost&pid=341478
I was just quoted in NJ for a SE silver w/o nav, ecm and compass, mats, cargo net 2500 dwn 349 a month for 36m lease with 12k miles a year. It does have the wheel and door edge guards and pinstripes. Does that sound like too much? Thanks for the help.
Yes it sounds like too much. I suggest you find the lease calculator at Edmunds.com and input your numbers to find the annual interest rate. My dealer was using a 60% residual value for a three year 12,000 mile lease.

In this market the interest rate is usually under 4%. I used Edmunds' formula to calculate a 1.15% interest rate on the $199/month special.

Your number is what my dealer started with for a Limited w/o Navi and that worked out to 4.94%.
 

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The real question is what is the selling price of the car and any dealership fees. If I were you I would forget monthly payments for now as that is a real easy way to overpay greatly for a car.

I leased a car in PA with $1,000 down. I did have a trade but owed about $400 more than what KBB had as a trade in value. After haggline the trade in value and the purchase price I walked away paying $298/month (including taxes). That was for an SE w/ floor mats, Ipod cable, and wheel locks as accessories. While I feel I got good deal and am happy with it, there was definitely some more wiggle room and the dealership definitely made a profit. I've purchased a couple cars from them, so I would rather pay a couple bucks more and buy from the dealership I trust rather than from elsewhere.

So in short without a trade and putting $2,500 down I would say you are WAY overpaying for the car (probably by at least 2k), but without knowing the sales price I can't comment on exactly how much.

As far it having door edge guards and pin stripes, they are parts that cost the dealership a couple bucks (literally) and then they try to jack the price of the car up by anywhere between 1k to 2k. That and pin stripes don't even look good on this car IMO. I would tell them to leave the pin stripes and door edge guards off and make sure that you are not getting charged for them.

Keep doing your research before signing!
 

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listen, to the OP...at the end of the day, your mileage will vary. everyone can claims all types of things but if the "deal" works out for you, go for it. not every dealer haggles like the next and not every dealer has the same deals as the rest.

do what you feel comfortable doing :thumbsup:
 

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My wife's GLS with no trade and no money down is $259 a month....and it's got the package with the alloy wheels, leather trim doors, chrome interior door handles and auto lights (can't remember what the package is called) I can't imagine the SE would be $90 more a month with 2500 down.
 

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QUOTE (raleighsteeler @ Jul 14 2010, 09:11 AM) index.php?act=findpost&pid=341601
I leased a 2011 SE with trunk and floor mats plus cargo net for 2500 down, 230.00/month/36 months. This was two weeks ago. Your quote is TOO HIGH.
That was the same quote I was offered about 3 months ago however, I really liked that $199 monthly payment so I opted to put $3600 down on my SE to keep the payments under the magic $200 mark. And that was out the door, tax, license, etc. Mats and net too. I also have the Homelink / auto dimming mirror, Ipod cable and wheel locks.

$349 is WAY TOO MUCH!
 

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Discussion Starter · #11 ·
I can't say thanks enough for all your help guys. I am killing the deal and shopping around some more.
 

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Here is what I calculated. If you paid full MSRP, taking into account the 595 acquisition fee, a 7% sales tax (I believe this is what NJ has), with $2,500 down and no other fees you would be at about $265/month. That is assuming a 12,000 mile lease with 59% residual and .00087 money factor (This was the lease info when I got mine and I believe they still hold true). In any case your quote is just INSANE! (unless you meant you were getting an SE with Nav and sunroof and not without) Then it would be a little more reasonable. It looks like the selling price would be about 26,500 to put you in the $350/month payment range.

Now personally I would say, you shouldn't even be paying full MSRP. I'm a business minded person, so I understand the dealer needs to make a profit. That being said, picking it up for 500 or 1,000 under MSRP and the dealer will still make a nice profit and you will get a pretty decent deal. Even if you don't feel like haggling, it should be prettty easy to get a dealer to that range. Just make sure they don't charge you like $500 for document fees. A $100 or so fee would be reasonable for this and again just adds to their bottom line.
 

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That sounds too high, after negotiating with several dealers for a few months, I got a Pearl White Limited w/out Nav. Lease for 36 mo/12,000 miles a year with $1,200 due at sign in and my monthly payments including tax is $292.00 which I feel is fair!
 

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The rule of thumb when it comes to leasing vs buying has always been to put down as little as possible up front. To the poster who said he put 3600 down to lower his payment. Do you realize what you are saying? If you would have put less down up front and kept the extra money in an account earning even 1/2% and withdrew the extra money monthly to make the payment you would be ahead.

Giving the money upfront just to lower your payment makes little sense unless it all is a business expense and you're trying to show a loss.
 

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QUOTE (Bingo Steve @ Jul 15 2010, 11:16 AM) index.php?act=findpost&pid=341966
The rule of thumb when it comes to leasing vs buying has always been to put down as little as possible up front. To the poster who said he put 3600 down to lower his payment. Do you realize what you are saying? If you would have put less down up front and kept the extra money in an account earning even 1/2% and withdrew the extra money monthly to make the payment you would be ahead.

Giving the money upfront just to lower your payment makes little sense unless it all is a business expense and you're trying to show a loss.
I like the way you think. :thumbsup:
 

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QUOTE (Bingo Steve @ Jul 15 2010, 11:16 AM) index.php?act=findpost&pid=341966
The rule of thumb when it comes to leasing vs buying has always been to put down as little as possible up front. To the poster who said he put 3600 down to lower his payment. Do you realize what you are saying? If you would have put less down up front and kept the extra money in an account earning even 1/2% and withdrew the extra money monthly to make the payment you would be ahead.

Giving the money upfront just to lower your payment makes little sense unless it all is a business expense and you're trying to show a loss.
Yes gentlemen you are correct; however there were certain extenuating circumstances, which I won't go into at this time, that just made more sense for me to do it that way. I totally see where you're going with this however we're talking a relatively small net value in my case. For my situation, it was [and still is] better to have the lower monthly payment.
 
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