PRNole47

After plunking down $18,586 down. It comes wiith a 3-yr lease at 10,000 miles per year.

vp911

Joke I hope? With 18k down shouldn't a lease be around oh, $110 a month?

vtecracer

Wait, did you say downpayment of $18,586? That means you would have paid almost $33,000 at the end of your RL's lease.

Melencio

No way that's a lease, and only at 10K a year?????

ck37

Thats CRAZY!!!

This isn't as bad, but I met someone last week that put 8 grand down for a four year lease for 600.00 a month. he thought he got a good deal. I gritted my teeth and smiled. Didn't know him and didn't want him to feel like a schmuck. He only had the car for a week.

Alin10123

Sounds like somebody got jipped. I hope you didn't actually lease it yet. Plus 10k mi. per year is about 800 miles a month. That's not very much at all.

Be sure to find out how they calculated that least. Find out what money factor (interest) they used as well as what selling price they are basing the lease off of. That way you can calculate if you got a good deal or not.

g6civcx

Do we know how to valuate a lease? If not, I'm sure there are a lot of finance folks here who would be glad to help.

CGTSX2004

iTrader: (1)

Wow...you got screwed, man.

I just ran the figures using a lease calculator. With the price at MSRP, factoing in your downpayment, 10% tax (which is probably pretty high), $1000 in additional fees, and a money factor equivalent to 8.5% APR, I was still only at $396 per month including tax.

Somebody screwed you big time.

Rob L

I dont think he/she took the elase and is just mentioning that is what the dealer told him/her could be done.

I take the original post to be sarcastic in nature and he/she knows full out that is a rip-off of a lease.

Melencio

I smell a troll...

PRNole47

I just mentioned it because I happened to catch it on TV while visiting a friend in North Florida last week. I couldn't believe it either.

I purchased my 2005 RL in Dec 2004.

hondamore

I think the lesson learned here is that dealerships often use leasing to pad their profits and make it so complicated that no one really understands what they are paying. Tommy boy had a great post from Edmunds regarding dealership "games" and practices (found in the "My thoughts on the buying experience part 1" thread). I think that a lot of preparation is required to completely familiarize yourself with leasing fundamentals prior to signing anything. Better yet, just pay cash - then you'll know exactly what you are paying. In the past, cash buyers got the best deals, but now lease deals may get the lowest purchase price because the dealership can then make lots of money in finance charges and fees in the lease.