tempting offer on camaro

[z28racer]

why I rent a car! crazy:

[jrohan07]

Work out the best price otd with the dealer as if you were going to buy. Then ask for lease option on that amount. Never lease a car at MSRP.
I just worked out a deal on a 2013 Jeep Wrangler Sahara MSRP $38500 and said I was going to purchase and worked out to $33489 OTD and then I said let me see my lease option on that price.
Worked out to $10.88 per month for 39 months. Of course I have execellent credit and put down $20K but if I did not put anything down $265 a month for 39 months at 14,000 miles a year and turn in and get a new one.

[suzook]

Originally Posted by upflying

Leasing is the same as renting.
You pay $4500 down and pay $425/mo for 39mo and then have nothing to show for it.
Better off paying $4500 down and making payments of $425/mo for 60mo and own it at the end.

Huh? The loan payment would be $715...what kind of math are you using?

[NYJets77]

Originally Posted by upflying

Leasing is the same as renting.
You pay $4500 down and pay $425/mo for 39mo and then have nothing to show for it.
Better off paying $4500 down and making payments of $425/mo for 60mo and own it at the end.

what do you mean "nothing to show for it"? you have the use of the car during that period.

[hardt2788]

it doesnt sound too bad of a deal, though i think the down payment should be lower

[upflying]

Originally Posted by suzook

Huh? The loan payment would be $715...what kind of math are you using?

You never pay sticker if you are buying it. Get the dealer to give you a cash deal, out the door price and get back with me.

[01pewterz28]

For a Lease Hell no so in the end you are paying $21,075 to rent a car for 39 months that comes out to $540.38 a month + miles if you go over. Now if it was $0.00 down that would be better. For me it's not the payment it's the Down payment I have a hard time getting over.

[suzook]

Originally Posted by upflying

You never pay sticker if you are buying it. Get the dealer to give you a cash deal, out the door price and get back with me.

I'm not....sticker is $45,980.....I'm paying $40k plus tax...which is 8.75....

[toesuf94]

NEVER front load or pay down a lease...that is just throwing money away. That is a pretty damned good looking car though. Good luck with your decision.

[upflying]

Originally Posted by NYJets77

what do you mean "nothing to show for it"? you have the use of the car during that period.

"Nothing to show for it" means no equity for the payments you made.

[Frank in MD]

Originally Posted by upflying

"Nothing to show for it" means no equity for the payments you made.

There are three options at lease end. Turn it in, buy it, or trade it. If the trade value exceeds the residual, for example the resdiual is 24K and trade value is 25K, then the difference goes to the new car.

People trade out of leases all the time.

[LSXaddict]

Well if you do end up leasing MAKE ABSOLUTELY SURE you get the wear and tear warranty aka smart lease program. That will make sure you avoid any fees for imperctions and tires and other items at lease end and also covers $500 in over mileage.

[Jonster]

Leasing:
Allows you to get a new car frequently
Provides short-term affordability
Results in fewer repair bills
Doesn't appear as credit debt
Avoids upside-down loans
Can act as a tax write-off in certain cases

I would push the car down payment down or payments to 400 if you could. Otherwise, good find!

[Del's12SS]

I just dont like the down payment..... seems high to me.
Good luck and enjoy.