Treating balloon payment as a lease...

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Old Sep 10, 2004 | 02:44 PM
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MrGQDieselNY's Avatar
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From: White Plains, NY
Treating balloon payment as a lease...

So far locally the best deal I can get on a 2004 5AT black/black non navi TL is with a 59 month balloon payment vs. a 48 month lease, which should be obvious, more payments, less $$ per each payment.

I really dont want the car for more than 48 months, dealer #1 tells me if I do the 59month balloon, I can give the car back at 48 months, any charges I would incur is if I was over the miles or any damage to the car, he also said I would end up paying more in taxes on a 59 month balloon then a 48 month lease so in theory they would owe me some $$ back for over tax I paid ( sounds like bullshit but who knows) and if say I was over on my mileage at 48 months maybe the tax "overpay" in the beginning would cover it and I could walk away from the deal no $$ out of pocket.

Dealer #2 says its a pain in the ass to give the car back on a 59month balloon after 48 months because it has to be appraised and make sure it appraises out, blah blah, ... so I am not sure if its safe to do the 59month balloon ( to keep montly payments low) and give it back in 48 months... any opinions? I told him I need this in writing, the terms and that I can give it back at 48 months.

I have the best price for 12,000 miles a yr at $399 a month, $2392 out the door, plus pay off my last 2 months on my current non Acura lease. I told both dealers to come back to me and tell me they can do 15,000 a yr for $399 a month then we can start talkin, so I am crossing my fingers. I also told them one of the guys from this board got $411/month for 12,000 miles, 48 month lease, $1500 out the door and paid $750 to pay his lease off.. .. Dealer #1 said thats crazy and Dealer #2 kinda stopped for a 2nd but seemed more willing to try to come close to that.

They also change how leases work, I think bank fee went up an additional $500 or some shit.

You'd figure the closer the release date of the 2005 the better the price on the 2004 would be but who knows.

And here is a story to make you cry. My buddy got his Acura from my Dealer #2 back in March, they had this crazy presidents day sale or some shit. $3700 out the door, $335 a month, 39 month baloon, 12,000 miles a year. Even if he only paid $1500 a month and avg that out it would still have been $365/month, $35 cheaper a month then anywhere I have seen on this board or anywhere at all... You'd think they would be running that again since the 05's are coming out.
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