jeowen

ok..time to put this issue to bed. I went to the dealership 2 months ago and drove away with an 07 NBP NAV with 11 miles on it ( Never thought i would buy a NEW car but "the deal was just to good"- I was there for about 4 hours, and I traded in my 02 TL Base N/Navi. The 02 KBB was like 13,300K and we went back and forth as you know how it goes. Well, finally he gave me 16K for mine and I put an initial 3K down, so thats 5,700K total down for the 07. Well i decided on a "lease to own " option, and a 48 month lease my payments are 500 a month. The payment is not an issue, I am just curious because the dealer was like " this is a great deal" u know how it is...blah blah blah. Anyway, as I look at the paperwork it seems that the "out the door cost of the TL was 36,800. Man, I am not confident..well i just dont think that I got such a great deal that they made it out to be..at least it will hold its value...suggestions, recommendations (educated) welcomed....thanks

enigmaos

iTrader: (4)

I am confused by the numbers

they gave you 16k for your 02 TL.
you put down 3k
that's 19k total down

where did you get 5,700k total down?

jeowen

oh..cause i owed 13,300 on it

Bearcat94

So, $5,700 down on a 48 month lease for an '07 w/Navi? And you pay $500 per month, with a selling price of $36,800?

IMO, you got hosed. They jacked the selling price and your "effective" DP was ~$2,700. For that you could've got a Type-S with the same payment and lease terms.

Desert_TL

They confused you. By lease-to-own, I think what they meant is that you can lease the car for 48 months, then you have the option of buying the car out at the end of the lease term for however much you owe at the end of 48 months.

THTL

iTrader: (2)

$5700. for a down payment on a lease. Those damn bastard.

KeithL

Not to rag on the OP, but I am amazed, people come on the forums to get financial advice on what is a good deal or lease price. They use the web to research a car, they should use the web to learn about leasing and car buying. Int he end all the numbers are on 2 pieces of paper the purhcase order and the ifnance agreement. Disect the numbers and do the math and you can find out. Sur eI have been hosed on some deals, my first car I got hosed real bad. Sure I have probably overpaid a little here and there, but I know all the numbers before I ever enter the dealer's showroom so that when we sit down I know exactly where every penny is going and how that impacts the bottom line and my payments. Yeah the dealers fudge some numbers on the purchase order to make some things look more beneficial to them from an accounting aspect, but you can easily factor that in as well.

jeowen

thx keith, the longer I was there the louder is was yelling my name..

Mike 06 TL

Those numbers do not add up to a good deal. You need to know all the numbers inside out BEFORE going to the dealer. That includes knowing the invoice price of the car and all options plus the dealer holdback and any available rebates. You start negotiating at an amount below invoice not including rebates and then work from there on a buy price. Then apply rebates off that.

For example, I just got my wife a loaded out Ford Edge SEL+, vista roof, 18" wheels, etc. for a little over $400 a month on a 39 month lease w/ $2500 down. Sticker was $35K. . Basically got it for 1% over invoice minus rebates. Awesome vehicle by the way...can't believe it's a Ford. We write off half of it anyway for business but I always try to make the best deal possible.

Lease to own is dealer BS. So you pay $500 a month for 48 mo then, what, you're going to take out a loan for another 36 or more months to pay the balloon? By the time you pay it off it will be 7+ years old.

Take your licks, learn something and next time you'll make a good deal. We've all been there.

jeowen

heard that man, thx

lavo

well 500/month = 24k + dp of 5700, thats 29700 on a car for a 4 yr lease?? horrible deal imo, unless your going to be able to buy the car for under 10k after all said and done, when the 08 is 4 yrs old it will be worth about 20k