I think I got ripped off
12-09-2013, 06:20 PM
#1
I think I got ripped off
Hi guys,
I am new to the forum and am excited to join the Acura community.
I entered into a 36 month lease of a 2013 SH-AWD Tech. I don't have my lease form that breaks out all the details but I basically paid $3,000 down, 1st month's payment and dealer fees, for a total $3,570 due up front, with 35 monthly payments thereafter of $490. This is a 12k/year lease.
I was reading some other TL lease forums (Edmunds) and it seemed that other people had much more favorable lease terms. Specifically, I feel like I paid $1,500-2,000 too much up front and didn't even get the first month lease payment included in that initial cash outlay.
When I learned of this the night after taking the car home it made my blood boil. Thinking about my lease terms makes me cringe everytime. I am interested to hear your guys' opinions, and hopefully learn that my lease terms aren't nearly as bad as I am making it out to be.
Thanks in advance. #leasingnoob #fail
I am new to the forum and am excited to join the Acura community.
I entered into a 36 month lease of a 2013 SH-AWD Tech. I don't have my lease form that breaks out all the details but I basically paid $3,000 down, 1st month's payment and dealer fees, for a total $3,570 due up front, with 35 monthly payments thereafter of $490. This is a 12k/year lease.
I was reading some other TL lease forums (Edmunds) and it seemed that other people had much more favorable lease terms. Specifically, I feel like I paid $1,500-2,000 too much up front and didn't even get the first month lease payment included in that initial cash outlay.
When I learned of this the night after taking the car home it made my blood boil. Thinking about my lease terms makes me cringe everytime. I am interested to hear your guys' opinions, and hopefully learn that my lease terms aren't nearly as bad as I am making it out to be.
Thanks in advance. #leasingnoob #fail
12-09-2013, 06:27 PM
#2
Moderator
that is expensive.. your lease should be rougly around 350 or so...
what is the residual.
also when negotiating for lease, always talk about the price of the overall car first then when its all settled, tell them you want to lease it.. that is the best way to go... then talk about down payment
what is the residual.
also when negotiating for lease, always talk about the price of the overall car first then when its all settled, tell them you want to lease it.. that is the best way to go... then talk about down payment
12-09-2013, 06:29 PM
#3
Hi guys,
I am new to the forum and am excited to join the Acura community.
I entered into a 36 month lease of a 2013 SH-AWD Tech. I don't have my lease form that breaks out all the details but I basically paid $3,000 down, 1st month's payment and dealer fees, for a total $3,570 due up front, with 35 monthly payments thereafter of $490. This is a 12k/year lease.
I was reading some other TL lease forums (Edmunds) and it seemed that other people had much more favorable lease terms. Specifically, I feel like I paid $1,500-2,000 too much up front and didn't even get the first month lease payment included in that initial cash outlay.
When I learned of this the night after taking the car home it made my blood boil. Thinking about my lease terms makes me cringe everytime. I am interested to hear your guys' opinions, and hopefully learn that my lease terms aren't nearly as bad as I am making it out to be.
Thanks in advance. #leasingnoob #fail
I am new to the forum and am excited to join the Acura community.
I entered into a 36 month lease of a 2013 SH-AWD Tech. I don't have my lease form that breaks out all the details but I basically paid $3,000 down, 1st month's payment and dealer fees, for a total $3,570 due up front, with 35 monthly payments thereafter of $490. This is a 12k/year lease.
I was reading some other TL lease forums (Edmunds) and it seemed that other people had much more favorable lease terms. Specifically, I feel like I paid $1,500-2,000 too much up front and didn't even get the first month lease payment included in that initial cash outlay.
When I learned of this the night after taking the car home it made my blood boil. Thinking about my lease terms makes me cringe everytime. I am interested to hear your guys' opinions, and hopefully learn that my lease terms aren't nearly as bad as I am making it out to be.
Thanks in advance. #leasingnoob #fail
Those lease #s are ok... Defiantly on the high side. Did you negotiate?
Reason I say this is my brother is studying for his CPA, and we went to go lease him a TSX he was ready to sign at $320 a month and $2500 down. After negotiating for an hour I got the car down to $277 a month and $900 down(dealer fees and first month) . See my drift.
What is the residual value on the car?
Last edited by dnd2984; 12-09-2013 at 06:32 PM.
12-09-2013, 06:31 PM
#4
that is expensive.. your lease should be rougly around 350 or so...
what is the residual.
also when negotiating for lease, always talk about the price of the overall car first then when its all settled, tell them you want to lease it.. that is the best way to go... then talk about down payment
what is the residual.
also when negotiating for lease, always talk about the price of the overall car first then when its all settled, tell them you want to lease it.. that is the best way to go... then talk about down payment
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12-09-2013, 09:50 PM
#8
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Not knowing much about leases, is there any recourse to this lease?
12-09-2013, 10:27 PM
#9
Thank you all for the constructive comments, I do appreciate it.
I have an update. After work, I called the sales guy that helped us. I basically told him that I felt that I got swindled and was not at all happy with the lease terms. He invited me to the Dealership so he could 'walk' me through the numbers.
I went into the dealership guns blazing. In short, he gave me the runaround but I told him that I was extremely unhappy with my lease terms, and that I needed to speak with the finance manager. I explained to him that with $3,000 down and payments of $490 (including tax), that I felt that I was paying at least $100 more per month than I should be, and that I was basically being swindled $3,600 over the course of the lease term.
I explained this same thing to the finance manager, and he also gave me the runaround. Even though they didn't mind taking advantage of a lease-noob like myself, I was surprised to learn that they were willing to give me some recourse. We basically concluded that I could choose an entirely different vehicle and draw-up a new lease, or I could keep the existing lease and he would give us 1 month's payment included in the $3,000 down. Obviously I told him that this was still not enough and with $3,000 down what I really want is to get as close to $380 (including taxes) per month as I could. To make a long story short, I was able to get him to come down to $439 per month taxes included ($50 off my contract rate).
Considering the fact that I had foolishly signed all the paperwork and he technically didn't even have to give me any recourse at all, I was happy to accept this reduction as it really lightens the blow. To quantify it, I think I was initially swindled about $3,600 but was able to cut that in half to $1,800.
At the end of the day, I am happy to cut my losses. No doubt it sucks, and to UCF_Bronco's point, shame on me for not doing my due dilligence and being more prudent about a significant financial decision. Since I layed my head down that night after signing the lease until now I have beaten myself up 100x over the way things transpired. However, now I am able to breathe a deep sigh of relief knowing that I was able to cut my losses in half. I truly believe this experience served as a great lesson, and I believe it has refined me and I will be faster, stronger, better because of it.
Thanks for all your input, and this sounds obvious but to anyone looking to buy or lease do your research, know exactly what you should be paying and do not rush into any decision, no matter how beautiful the car.
Wish everyone the best, and happy holidays
I have an update. After work, I called the sales guy that helped us. I basically told him that I felt that I got swindled and was not at all happy with the lease terms. He invited me to the Dealership so he could 'walk' me through the numbers.
I went into the dealership guns blazing. In short, he gave me the runaround but I told him that I was extremely unhappy with my lease terms, and that I needed to speak with the finance manager. I explained to him that with $3,000 down and payments of $490 (including tax), that I felt that I was paying at least $100 more per month than I should be, and that I was basically being swindled $3,600 over the course of the lease term.
I explained this same thing to the finance manager, and he also gave me the runaround. Even though they didn't mind taking advantage of a lease-noob like myself, I was surprised to learn that they were willing to give me some recourse. We basically concluded that I could choose an entirely different vehicle and draw-up a new lease, or I could keep the existing lease and he would give us 1 month's payment included in the $3,000 down. Obviously I told him that this was still not enough and with $3,000 down what I really want is to get as close to $380 (including taxes) per month as I could. To make a long story short, I was able to get him to come down to $439 per month taxes included ($50 off my contract rate).
Considering the fact that I had foolishly signed all the paperwork and he technically didn't even have to give me any recourse at all, I was happy to accept this reduction as it really lightens the blow. To quantify it, I think I was initially swindled about $3,600 but was able to cut that in half to $1,800.
At the end of the day, I am happy to cut my losses. No doubt it sucks, and to UCF_Bronco's point, shame on me for not doing my due dilligence and being more prudent about a significant financial decision. Since I layed my head down that night after signing the lease until now I have beaten myself up 100x over the way things transpired. However, now I am able to breathe a deep sigh of relief knowing that I was able to cut my losses in half. I truly believe this experience served as a great lesson, and I believe it has refined me and I will be faster, stronger, better because of it.
Thanks for all your input, and this sounds obvious but to anyone looking to buy or lease do your research, know exactly what you should be paying and do not rush into any decision, no matter how beautiful the car.
Wish everyone the best, and happy holidays
12-09-2013, 11:46 PM
#11
10th Gear
Thank you all for the constructive comments, I do appreciate it.
I have an update. After work, I called the sales guy that helped us. I basically told him that I felt that I got swindled and was not at all happy with the lease terms. He invited me to the Dealership so he could 'walk' me through the numbers.
I went into the dealership guns blazing. In short, he gave me the runaround but I told him that I was extremely unhappy with my lease terms, and that I needed to speak with the finance manager. I explained to him that with $3,000 down and payments of $490 (including tax), that I felt that I was paying at least $100 more per month than I should be, and that I was basically being swindled $3,600 over the course of the lease term.
I explained this same thing to the finance manager, and he also gave me the runaround. Even though they didn't mind taking advantage of a lease-noob like myself, I was surprised to learn that they were willing to give me some recourse. We basically concluded that I could choose an entirely different vehicle and draw-up a new lease, or I could keep the existing lease and he would give us 1 month's payment included in the $3,000 down. Obviously I told him that this was still not enough and with $3,000 down what I really want is to get as close to $380 (including taxes) per month as I could. To make a long story short, I was able to get him to come down to $439 per month taxes included ($50 off my contract rate).
Considering the fact that I had foolishly signed all the paperwork and he technically didn't even have to give me any recourse at all, I was happy to accept this reduction as it really lightens the blow. To quantify it, I think I was initially swindled about $3,600 but was able to cut that in half to $1,800.
At the end of the day, I am happy to cut my losses. No doubt it sucks, and to UCF_Bronco's point, shame on me for not doing my due dilligence and being more prudent about a significant financial decision. Since I layed my head down that night after signing the lease until now I have beaten myself up 100x over the way things transpired. However, now I am able to breathe a deep sigh of relief knowing that I was able to cut my losses in half. I truly believe this experience served as a great lesson, and I believe it has refined me and I will be faster, stronger, better because of it.
Thanks for all your input, and this sounds obvious but to anyone looking to buy or lease do your research, know exactly what you should be paying and do not rush into any decision, no matter how beautiful the car.
Wish everyone the best, and happy holidays
I have an update. After work, I called the sales guy that helped us. I basically told him that I felt that I got swindled and was not at all happy with the lease terms. He invited me to the Dealership so he could 'walk' me through the numbers.
I went into the dealership guns blazing. In short, he gave me the runaround but I told him that I was extremely unhappy with my lease terms, and that I needed to speak with the finance manager. I explained to him that with $3,000 down and payments of $490 (including tax), that I felt that I was paying at least $100 more per month than I should be, and that I was basically being swindled $3,600 over the course of the lease term.
I explained this same thing to the finance manager, and he also gave me the runaround. Even though they didn't mind taking advantage of a lease-noob like myself, I was surprised to learn that they were willing to give me some recourse. We basically concluded that I could choose an entirely different vehicle and draw-up a new lease, or I could keep the existing lease and he would give us 1 month's payment included in the $3,000 down. Obviously I told him that this was still not enough and with $3,000 down what I really want is to get as close to $380 (including taxes) per month as I could. To make a long story short, I was able to get him to come down to $439 per month taxes included ($50 off my contract rate).
Considering the fact that I had foolishly signed all the paperwork and he technically didn't even have to give me any recourse at all, I was happy to accept this reduction as it really lightens the blow. To quantify it, I think I was initially swindled about $3,600 but was able to cut that in half to $1,800.
At the end of the day, I am happy to cut my losses. No doubt it sucks, and to UCF_Bronco's point, shame on me for not doing my due dilligence and being more prudent about a significant financial decision. Since I layed my head down that night after signing the lease until now I have beaten myself up 100x over the way things transpired. However, now I am able to breathe a deep sigh of relief knowing that I was able to cut my losses in half. I truly believe this experience served as a great lesson, and I believe it has refined me and I will be faster, stronger, better because of it.
Thanks for all your input, and this sounds obvious but to anyone looking to buy or lease do your research, know exactly what you should be paying and do not rush into any decision, no matter how beautiful the car.
Wish everyone the best, and happy holidays
And don't listen to all these know it all's talking about $350 a month with 3K out of pocket on an SH AWD TECH PACKAGE. Those figures are completely unrealistic and wouldn't have even been possible back in May through August when the TL's lease program was ridiculously low and the dealers had cash back from the manufacturer . Hook up or no hook up $350 tax in for 36 months with $1,500 or even $3000 out of pocket is bull shiz. Somebody is getting low balled nasty style.
Seriously, your initial deal wasn't bad at all, and your final deal is phenomenal. I'm a sales manager at the #1 Acura dealer in the southeast so I know a thing or two about these things.
Great job and congratulations on your new car! Now start enjoying the darned thing before you get your bill.
The following users liked this post:
Mozvader (12-10-2013)
12-10-2013, 12:02 AM
#13
10th Gear
12-10-2013, 12:07 AM
#14
You didn't get ripped off at all. The leases on the TL aren't that great right now since availability is down. I worked up the numbers real quick and you'll be glad to hear that the dealer didn't make any money at all. DND2984 is right. The dealer was not obligated to do anything for you at all (but I'm glad they did). As a matter of fact I can't believe the dealership brought it down to $439 tax in. You must be incredibly annoying or they had not funded the deal with AFS yet and didn't want to risk you backing out of the deal and ending up at another Acura dealer for a few bucks less. I'm willing to bet on the latter.
And don't listen to all these know it all's talking about $350 a month with 3K out of pocket on an SH AWD TECH PACKAGE. Those figures are completely unrealistic and wouldn't have even been possible back in May through August when the TL's lease program was ridiculously low and the dealers had cash back from the manufacturer . Hook up or no hook up $350 tax in for 36 months with $1,500 or even $3000 out of pocket is bull shiz. Somebody is getting low balled nasty style.
Seriously, your initial deal wasn't bad at all, and your final deal is phenomenal. I'm a sales manager at the #1 Acura dealer in the southeast so I know a thing or two about these things.
Great job and congratulations on your new car! Now start enjoying the darned thing before you get your bill.
And don't listen to all these know it all's talking about $350 a month with 3K out of pocket on an SH AWD TECH PACKAGE. Those figures are completely unrealistic and wouldn't have even been possible back in May through August when the TL's lease program was ridiculously low and the dealers had cash back from the manufacturer . Hook up or no hook up $350 tax in for 36 months with $1,500 or even $3000 out of pocket is bull shiz. Somebody is getting low balled nasty style.
Seriously, your initial deal wasn't bad at all, and your final deal is phenomenal. I'm a sales manager at the #1 Acura dealer in the southeast so I know a thing or two about these things.
Great job and congratulations on your new car! Now start enjoying the darned thing before you get your bill.
I think I will buy my sales guy and finance manager a bottle of wine wheni go in to get a tutorial of the technology and a comp car wash. In retrospect I think what they did for me tonight was a real stand up move and they backed up their word of customer satisfaction.
To answer the questioning residual I got a $21.6k buyout....I think it's fair to say if I stick w in the 36k miles, she should be worth more than that and ill be in a positive position
You're absolutely right it is time to enjoy her and take her around town
Question....what fuel do you guys use and my sales guy told me I don't need to break her in per se...obviously not go hog wild but don't have to stay under 55 mph either...agree?
12-10-2013, 12:12 AM
#15
Thank you for the input and when I first signed the lease I was fine w it...thought it was fair until I read in edmunds and herein that people were doing like 0-800 down w1st month pmt in and dealer fees and registration....and still paying like 350-390 taxes in...after that I became irate thinking I got swindled.
I think I will buy my sales guy and finance manager a bottle of wine wheni go in to get a tutorial of the technology and a comp car wash. In retrospect I think what they did for me tonight was a real stand up move and they backed up their word of customer satisfaction.
To answer the questioning residual I got a $21.6k buyout....I think it's fair to say if I stick w in the 36k miles, she should be worth more than that and ill be in a positive position
You're absolutely right it is time to enjoy her and take her around town
Question....what fuel do you guys use and my sales guy told me I don't need to break her in per se...obviously not go hog wild but don't have to stay under 55 mph either...agree?
I think I will buy my sales guy and finance manager a bottle of wine wheni go in to get a tutorial of the technology and a comp car wash. In retrospect I think what they did for me tonight was a real stand up move and they backed up their word of customer satisfaction.
To answer the questioning residual I got a $21.6k buyout....I think it's fair to say if I stick w in the 36k miles, she should be worth more than that and ill be in a positive position
You're absolutely right it is time to enjoy her and take her around town
Question....what fuel do you guys use and my sales guy told me I don't need to break her in per se...obviously not go hog wild but don't have to stay under 55 mph either...agree?
Brothers brand new TSX,
http://www.autogeekonline.net/forum/...wg-fuzion.html
The following users liked this post:
Mozvader (12-10-2013)
12-10-2013, 12:25 AM
#16
10th Gear
Thank you for the input and when I first signed the lease I was fine w it...thought it was fair until I read in edmunds and herein that people were doing like 0-800 down w1st month pmt in and dealer fees and registration....and still paying like 350-390 taxes in...after that I became irate thinking I got swindled.
I think I will buy my sales guy and finance manager a bottle of wine wheni go in to get a tutorial of the technology and a comp car wash. In retrospect I think what they did for me tonight was a real stand up move and they backed up their word of customer satisfaction.
To answer the questioning residual I got a $21.6k buyout....I think it's fair to say if I stick w in the 36k miles, she should be worth more than that and ill be in a positive position
You're absolutely right it is time to enjoy her and take her around town
Question....what fuel do you guys use and my sales guy told me I don't need to break her in per se...obviously not go hog wild but don't have to stay under 55 mph either...agree?
I think I will buy my sales guy and finance manager a bottle of wine wheni go in to get a tutorial of the technology and a comp car wash. In retrospect I think what they did for me tonight was a real stand up move and they backed up their word of customer satisfaction.
To answer the questioning residual I got a $21.6k buyout....I think it's fair to say if I stick w in the 36k miles, she should be worth more than that and ill be in a positive position
You're absolutely right it is time to enjoy her and take her around town
Question....what fuel do you guys use and my sales guy told me I don't need to break her in per se...obviously not go hog wild but don't have to stay under 55 mph either...agree?
12-10-2013, 12:33 AM
#17
10th Gear
DO NOT! I repeat DO NOT get the car washed by the dealer.
Brothers brand new TSX,
http://www.autogeekonline.net/forum/...wg-fuzion.html
Brothers brand new TSX,
http://www.autogeekonline.net/forum/...wg-fuzion.html
That black paint looks unbelievable!!!!
What is that Fuzion stuff?
12-10-2013, 08:26 AM
#19
Burning Brakes
"The dealer didn't make any money at all."
hehehehhohohohohohehehehe, LMAO.
You should NEVER put any money down on a lease, (MHO).
If something goes wrong - say the car is stolen or wrecked - that money is gone and you are out of pocket.
hehehehhohohohohohehehehe, LMAO.
You should NEVER put any money down on a lease, (MHO).
If something goes wrong - say the car is stolen or wrecked - that money is gone and you are out of pocket.
12-10-2013, 08:31 AM
#20
Fuzion is a carnauba/polymer blend wax from Wolfgang.
However, putting on Fuzion on any old car is not going to make it look like dnd2984's brother's TSX. Not to take anything away from Fuzion as it is an excellent wax, but that shine is from the excellent prep work dnd2984 put in to decontaminate and level the paint by compounding and polishing.
However, putting on Fuzion on any old car is not going to make it look like dnd2984's brother's TSX. Not to take anything away from Fuzion as it is an excellent wax, but that shine is from the excellent prep work dnd2984 put in to decontaminate and level the paint by compounding and polishing.
12-10-2013, 08:50 AM
#22
Intermediate
I have to admit I too feel you paid to much initially. Not that you got "ripped off" because all dealers give high prices at first and hope that you bite. That's how dealerships make money. It's all about how much research you do. With the 3k down and the number they ended up adjusting the price to seems to be reasonable now.
12-10-2013, 08:52 AM
#23
Intermediate
12-10-2013, 08:53 AM
#24
[QUOTE=dnd2984;14785460]DO NOT! I repeat DO NOT get the car washed by the dealer.[\QUOTE]
You ended up with a very fair lease deal. dnd's above advice should be followed unless you are a big fan of swirls in your paint!
You ended up with a very fair lease deal. dnd's above advice should be followed unless you are a big fan of swirls in your paint!
Last edited by Ziffle; 12-10-2013 at 08:56 AM.
12-10-2013, 09:15 AM
#25
OP,
Lease is a great option for many folks as it brings the payment way, way down.
We are almost done making loan payments at $700 a month.
However, when it is paid off we will have a car that is worth $24,000 (right now). But we will keep it until 2019.
So consider that you could be paying twice as much...
Lease is a great option for many folks as it brings the payment way, way down.
We are almost done making loan payments at $700 a month.
However, when it is paid off we will have a car that is worth $24,000 (right now). But we will keep it until 2019.
So consider that you could be paying twice as much...
12-10-2013, 09:39 AM
#26
Burning Brakes
OP, the initial terms you agreed to were the standard lease terms and an okay deal. You didn't get ripped off but you could of done better and you did. The one you are in now is an an excellent deal. I know because when I shopped around for my car, these were some of the offers I received. Down payment was similar to yours but I had equity in my trade in instead of actual money. $350 a month on a SH-AWD tech pack is not mathematically possible with 3K down. Also, on all Acura leases gap insurance is included. So no money coming out of your pocket if your car gets totaled, God forbid.
Last edited by TeamAcura; 12-10-2013 at 09:42 AM.
12-10-2013, 11:09 AM
#27
Fuzion is a carnauba/polymer blend wax from Wolfgang.
However, putting on Fuzion on any old car is not going to make it look like dnd2984's brother's TSX. Not to take anything away from Fuzion as it is an excellent wax, but that shine is from the excellent prep work dnd2984 put in to decontaminate and level the paint by compounding and polishing.
However, putting on Fuzion on any old car is not going to make it look like dnd2984's brother's TSX. Not to take anything away from Fuzion as it is an excellent wax, but that shine is from the excellent prep work dnd2984 put in to decontaminate and level the paint by compounding and polishing.
You will get DISO = Dealer Installed Swirl Options.
Last edited by dnd2984; 12-10-2013 at 11:11 AM.
12-10-2013, 11:54 AM
#28
10th Gear
It happens.
While its true that most people are buried (upside down) in there leases it isn't necessarily true 100% of the time. Between Acura/Honda's low money factors on their lease specials and the brands generally high resale value it isn't uncommon to have equity in a lease.
And quick tip. Dealers can't stand the "Cynical" buyer. We have lots of fun making sure they pay way more than the genuinely nice guy looking for a good deal. Beware.....
12-10-2013, 04:28 PM
#30
I agree with aIpeACE and others, who recommended that you should have negotiated the price of the car first.
Personally, I think leasing only makes sense to those people who have short commute and have their 2nd car financed. I made the mistake of having both my cars leased and ended up paying for the overages. When I leased it, I went to multiple dealers and got quotes on the price of the car first. I think this is also helpful if you are purchasing a car.
When I recently bought my CPO TL, I told the dealers that give me an out-of-the-door price of the car. I feel I always get a better deal, when I get a pre-approved loan and tell the dealer that I don't need any financing, just give me the out-of-the-door price. You don't have to deal with all the fees that they build into the invoice/msrp.
The one thing I made sure, when I leased was to not put any money down. If it was financing, I understand that I am building equity, but for a lease I would never want to do that. If the car gets totaled, you might as well forget about the money you put down.
Personally, I think leasing only makes sense to those people who have short commute and have their 2nd car financed. I made the mistake of having both my cars leased and ended up paying for the overages. When I leased it, I went to multiple dealers and got quotes on the price of the car first. I think this is also helpful if you are purchasing a car.
When I recently bought my CPO TL, I told the dealers that give me an out-of-the-door price of the car. I feel I always get a better deal, when I get a pre-approved loan and tell the dealer that I don't need any financing, just give me the out-of-the-door price. You don't have to deal with all the fees that they build into the invoice/msrp.
The one thing I made sure, when I leased was to not put any money down. If it was financing, I understand that I am building equity, but for a lease I would never want to do that. If the car gets totaled, you might as well forget about the money you put down.
12-10-2013, 04:32 PM
#31
2G TLX-S
12-10-2013, 09:25 PM
#32
10th Gear
I agree with aIpeACE and others, who recommended that you should have negotiated the price of the car first.
Personally, I think leasing only makes sense to those people who have short commute and have their 2nd car financed. I made the mistake of having both my cars leased and ended up paying for the overages. When I leased it, I went to multiple dealers and got quotes on the price of the car first. I think this is also helpful if you are purchasing a car.
When I recently bought my CPO TL, I told the dealers that give me an out-of-the-door price of the car. I feel I always get a better deal, when I get a pre-approved loan and tell the dealer that I don't need any financing, just give me the out-of-the-door price. You don't have to deal with all the fees that they build into the invoice/msrp.
The one thing I made sure, when I leased was to not put any money down. If it was financing, I understand that I am building equity, but for a lease I would never want to do that. If the car gets totaled, you might as well forget about the money you put down.
Personally, I think leasing only makes sense to those people who have short commute and have their 2nd car financed. I made the mistake of having both my cars leased and ended up paying for the overages. When I leased it, I went to multiple dealers and got quotes on the price of the car first. I think this is also helpful if you are purchasing a car.
When I recently bought my CPO TL, I told the dealers that give me an out-of-the-door price of the car. I feel I always get a better deal, when I get a pre-approved loan and tell the dealer that I don't need any financing, just give me the out-of-the-door price. You don't have to deal with all the fees that they build into the invoice/msrp.
The one thing I made sure, when I leased was to not put any money down. If it was financing, I understand that I am building equity, but for a lease I would never want to do that. If the car gets totaled, you might as well forget about the money you put down.
shAWD-CPA got a pretty good deal and turned it into a great deal and thats the point.
12-10-2013, 10:10 PM
#33
Banned
Hi guys,
I am new to the forum and am excited to join the Acura community.
I entered into a 36 month lease of a 2013 SH-AWD Tech. I don't have my lease form that breaks out all the details but I basically paid $3,000 down, 1st month's payment and dealer fees, for a total $3,570 due up front, with 35 monthly payments thereafter of $490. This is a 12k/year lease.
I was reading some other TL lease forums (Edmunds) and it seemed that other people had much more favorable lease terms. Specifically, I feel like I paid $1,500-2,000 too much up front and didn't even get the first month lease payment included in that initial cash outlay.
When I learned of this the night after taking the car home it made my blood boil. Thinking about my lease terms makes me cringe everytime. I am interested to hear your guys' opinions, and hopefully learn that my lease terms aren't nearly as bad as I am making it out to be.
Thanks in advance. #leasingnoob #fail
I am new to the forum and am excited to join the Acura community.
I entered into a 36 month lease of a 2013 SH-AWD Tech. I don't have my lease form that breaks out all the details but I basically paid $3,000 down, 1st month's payment and dealer fees, for a total $3,570 due up front, with 35 monthly payments thereafter of $490. This is a 12k/year lease.
I was reading some other TL lease forums (Edmunds) and it seemed that other people had much more favorable lease terms. Specifically, I feel like I paid $1,500-2,000 too much up front and didn't even get the first month lease payment included in that initial cash outlay.
When I learned of this the night after taking the car home it made my blood boil. Thinking about my lease terms makes me cringe everytime. I am interested to hear your guys' opinions, and hopefully learn that my lease terms aren't nearly as bad as I am making it out to be.
Thanks in advance. #leasingnoob #fail
That's like asking do frogs eat insects?
You better call the cops, pal. You got rapped.
12-11-2013, 10:28 AM
#34
Burning Brakes
And quick tip. Dealers can't stand the "Cynical" buyer. We have lots of fun making sure they pay way more than the genuinely nice guy looking for a good deal. Beware.....
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