Horrible lease deals!
07-17-2001, 03:37 PM
#1
Horrible lease deals!
What is up with Acura? I'm not commenting on the Money Factor and residual, they are pretty average. What is beyond me is any option they offer you have to pay in full over the term of the lease, not the residual.
You want a $2000 nav upgrade? Sure, that will be an extra $2000 over the next 3 years. You want a spoiler and body kit? Sure, just pay it in full over the term of the lease? WTF?
I have never leased before, so maybe this is standard. But the Audi dealer will allow me to add any option what so ever and only pay the portion I will use during the lease. Makes much more sense to me. If all Acura dealers deal this way they need to make themselve competitive.
You want a $2000 nav upgrade? Sure, that will be an extra $2000 over the next 3 years. You want a spoiler and body kit? Sure, just pay it in full over the term of the lease? WTF?
I have never leased before, so maybe this is standard. But the Audi dealer will allow me to add any option what so ever and only pay the portion I will use during the lease. Makes much more sense to me. If all Acura dealers deal this way they need to make themselve competitive.
07-17-2001, 03:51 PM
#2
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Residual should be on the entire car, accessories and all.
This is the problem with telling a dealer you are going to lease upfront. Negotiate the price of the car, then tell them you are leasing.
You can go to Banks, Credit Unions and leasing companies with your deal, and they will buy/lease to you. They maybe able to buy cheaper, depending on your negotiating skills.
If you need a lease calculator, let me know, I will e-mail it to you. It will help ANYONE who is considering leasing.
It works for ALL makes, and models (yes people have asked me this
) Be prepared before you walk into a dealer.
What are people being quoted on intrest rate/coast of money and residual? I would expect 5.5%/.00291 and 65-62% of LIST on a 36 to 42 month deal.
What are you being told?
This is the problem with telling a dealer you are going to lease upfront. Negotiate the price of the car, then tell them you are leasing.
You can go to Banks, Credit Unions and leasing companies with your deal, and they will buy/lease to you. They maybe able to buy cheaper, depending on your negotiating skills.
If you need a lease calculator, let me know, I will e-mail it to you. It will help ANYONE who is considering leasing.
It works for ALL makes, and models (yes people have asked me this
) Be prepared before you walk into a dealer.What are people being quoted on intrest rate/coast of money and residual? I would expect 5.5%/.00291 and 65-62% of LIST on a 36 to 42 month deal.
What are you being told?
07-17-2001, 04:10 PM
#3
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I ran into the same thing. The only dealer option they will let you add to the price for determining the residual value is the rear spoiler. This has the net effect of making you pay for the options in full over the term of the lease. I had to do this for the body kit.
The nav system is a little different. They do residualize the nav system, but at a different rate. The net effect is that the nav system depreciates at a faster rate than the rest of the car. On my 48 month lease, the nav ended up being worth $800 at the end of the lease, so whereas the rest of the car depreciated 48%, the nav system depreciated 67%.
This really ticked me off when I first found out about it. I guess theoretically, I could remove the body kit before I turn in the car, since I will have paid for it in full. OTOH, I am thinking about maybe buying the car after the lease, so that will be that much less I have to pay.
The nav system is a little different. They do residualize the nav system, but at a different rate. The net effect is that the nav system depreciates at a faster rate than the rest of the car. On my 48 month lease, the nav ended up being worth $800 at the end of the lease, so whereas the rest of the car depreciated 48%, the nav system depreciated 67%.
This really ticked me off when I first found out about it. I guess theoretically, I could remove the body kit before I turn in the car, since I will have paid for it in full. OTOH, I am thinking about maybe buying the car after the lease, so that will be that much less I have to pay.
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