Anybody try the price caculator?

[fledonfoot]

Originally Posted by kALMIGHTY

Credit and all those things weren't factored in yet.

It's very difficult to quote a monthly payment when you have no idea where you stand from an interest rate perspective.

Chances are that for his 5 year lease option, he's providing you with the tier 6 or tier 7 "money factor", pending a credit application.

If that's the case, you're setting yourself up for the F&I guy to pad the deal with warranties and other insurance products you may not want once the actual money factor/interest rate is settled -- a lower monthly payment than first quoted, but still high.

At our dealership, our pure price for Tier 1/1+ customers is the same $293 + taxes for 36 months with $1999 down. A 5 year lease (while not a good idea at all) should in theory give you a LOWER base payment before taxes, with the same money down.

Granted, it's been almost 3 years since I worked in the sales department, but unless I'm missing something the numbers in the OP don't pass a sniff test in my mind.

Once you have your credit run, read your paperwork VERY CAREFULLY before you sign anything.

[kALMIGHTY]

Originally Posted by fledonfoot

It's very difficult to quote a monthly payment when you have no idea where you stand from an interest rate perspective.

Chances are that for his 5 year lease option, he's providing you with the tier 6 or tier 7 "money factor", pending a credit application.

If that's the case, you're setting yourself up for the F&I guy to pad the deal with warranties and other insurance products you may not want once the actual money factor/interest rate is settled -- a lower monthly payment than first quoted, but still high.

At our dealership, our pure price for Tier 1/1+ customers is the same $293 + taxes for 36 months with $1999 down. A 5 year lease (while not a good idea at all) should in theory give you a LOWER base payment before taxes, with the same money down.

Granted, it's been almost 3 years since I worked in the sales department, but unless I'm missing something the numbers in the OP don't pass a sniff test in my mind.

Once you have your credit run, read your paperwork VERY CAREFULLY before you sign anything.

Thanks, I haven't agreed to anything yet. I want to know exactly why the price is close to $32k for the car when I've only added on 4 options. I'm not signing anything until I get the price I want, even if that means I walk away and try a different dealership or have to end up waiting longer to get the car.

[poundsand]

Originally Posted by kALMIGHTY

Sorry, the financing price was bi-weekly. Should have mentioned that.

None of that was considered at the dealership yet either. I told him what I wanted and he came back with $432/month for lease and $277 bi-weekly for financing. I said no and he left and came back a few minutes later with $420/month for lease and $250 bi-weekly for financing and said that was the best he could do. Credit and all those things weren't factored in yet.

'Credit and all those things' are factored into what price they can do. Unless they just quote you based on a rate so stupid high they don't care what your credit is.

Originally Posted by kALMIGHTY

Interest rates were the exact same on the website as the ones he said he was giving me on the quote he gave me. Dealership will be closed tomorrow and Monday, so I'll go back in on Tuesday to have a chat with him.

They can tell you whatever. You don't know is the thing - otherwise you wouldn't be here asking. I reiterate, you need to learn about financing before you go back in. That way when you're there, you will
know if the numbers make any sense. Also download a payment up for your phone before you go in so that you can check the numbers.


Finally, to get on my soapbox, it's downright stupid to be purchasing or leasing a car that costs as much as your yearly income.

[thill]

I would never, ever, lease a car for more than 36 months. 24 is preffered. If you are going to consider driving a car for more than 2-3 years, you should be buying it.

And yes. Don't focus on the payment. Focus on the price of the car out the door. The dealer could be adding who knows what...

[fistpoint]

As the others said, make a cash "out the door cost" which includes tax, title and license...everything down to the last cent. THEN, you apply whatever loan rate you have received from either the bank of your choice or theirs if the rate is lower.

Now not only do you have a cash price for the car, but also a financing rate that you can determine the monthly payment from yourself. Do NOT ask them what the monthly is, because YOU already know.

There are loan calculators all over the internet, just type "loan calculator" into your search box and insert the numbers. I can almost guarantee that they will have a different number if you ask them rather than tell them what the monthly is because they are banking on the fact that you don't have access to a calculator or are too stupid to use one. Don't let them be right.

[Jertronic]

Can someone please comment on the following lease deal:

Selling price $28,180 (10 series FRS) MT

36 month/ 12K/yr

Money factor 0.00180

L.E.V.% 66.18%

Lease End Value $18,649.00

Tax 860.67

Total Add Cap Costs $1,168.00

Cash Cap Reduction $574.59

Cap Reduct Tax 6.25% $35.91

Adjusted Cap Cost 28,773.41

Base Monthly Rental $366.59

Amt due at start $1,000


Total Monthly Payment $389.50

Total Working Cash $1,000


I can't make sense of this deal.






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[forzajuve]

What if you just compared the invoice they create to what shows up online, and then point out the differences? That way you can answer the question yourself

[Jertronic]

I am hoping to learn which factors can be negotiated or improved to my benefit. Assuming the website has a calculator which doesn't "show the work".

For all I know this is the worlds worst lease deal.


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[Guitarguy77]

a) For all the people saying he's getting a bad deal, he's in Canada. The price of cars is way higher up here compred to you guys in the US.
b) to the OP - Based on double checking your numbers, when you did your own pricing calculations, you did not the button at the bottom of the page that says "Include applicable Taxes, Levies, Fees, Freight and Delivery". That stuff adds quite a bit to the total.

Hopefully this helps you out.

[AznBRZer]

Originally Posted by Jertronic

Can someone please comment on the following lease deal:

Selling price $28,180 (10 series FRS) MT

36 month/ 12K/yr

Money factor 0.00180

L.E.V.% 66.18%

Lease End Value $18,649.00

Tax 860.67

Total Add Cap Costs $1,168.00

Cash Cap Reduction $574.59

Cap Reduct Tax 6.25% $35.91

Adjusted Cap Cost 28,773.41

Base Monthly Rental $366.59

Amt due at start $1,000


Total Monthly Payment $389.50

Total Working Cash $1,000


I can't make sense of this deal.

If you have no problem paying for a lease based on the selling price of the car being over $36k OTD, then go for it...cause that's what those numbers look like they mean to me.

[kALMIGHTY]

Update: I decided to ditch them and go to another dealership the next day. Got all the same things I asked the original dealer for. I negotiated the price down to $403/month, plus they threw in free 20% tint all around!
Now I have to wait because the original dealership sold that FR-S already so my dealership can't trade with them. The one they'll be getting for me is at port though, so hopefully only a week or two wait at most!

[AznBRZer]

Are you telling us that you just leased a car for 5 years?

[kALMIGHTY]

Originally Posted by AznBRZer

Are you telling us that you just leased a car for 5 years?

Yeah I did. I'm not sure yet if I'm going to keep it for longer than 5 years, and I can buy it out at the end if I really do want to keep it. No one in my family has ever just bought out a car, and it's been fine.
For example, my mom's 2008 Civic's lease just ended last month, and the buy out was $7,500. My mom wanted to keep it so we paid that and now it's ours. You might think it was pointless to lease it in the first place then, but think about it this way. We paid lower monthly payments for 5 years on the car than financing, and bought the car for $7500, but we could still make more money off it by selling it ourselves now since the same used Civics right now are about $12,000 here, so we could make that money if we wanted.

The buy out at the end of the lease for the FR-S is about $11,400 but the actual price of a used 2013 FR-S in 5 years is probably going to be around the $15,000 or $16,000 mark.

[mush]

Originally Posted by kALMIGHTY

Yeah I did. I'm not sure yet if I'm going to keep it for longer than 5 years, and I can buy it out at the end if I really do want to keep it. No one in my family has ever just bought out a car, and it's been fine.
For example, my mom's 2008 Civic's lease just ended last month, and the buy out was $7,500. My mom wanted to keep it so we paid that and now it's ours. You might think it was pointless to lease it in the first place then, but think about it this way. We paid lower monthly payments for 5 years on the car than financing, and bought the car for $7500, but we could still make more money off it by selling it ourselves now since the same used Civics right now are about $12,000 here, so we could make that money if we wanted.

The buy out at the end of the lease for the FR-S is about $11,400 but the actual price of a used 2013 FR-S in 5 years is probably going to be around the $15,000 or $16,000 mark.

whats the sticker price of the car ur leasing?

i hate it when the sales guy tells me what i have to pay monthly. i dont really care what i have to pay monthly, i just want to know what it cost after all said and done