Weird Lease Deal

Nimo · 05-13-2010, 09:08 PM

Hello everybody this is my first post here. I have been doing some research on the 370z for a while now(pricing and specs I want), and I decided that I wanted to lease one probably in December 2010. That's why I went to a delearship in Queens NY called Star Nissan. After talking to the salesman he gave me a pretty insane offer. They would pay off my existing lease(8 months) and with no money down a 6MT Base + Sport Pckg would cost me 420$ a month for 3 years 10k m/year. Now from what I've read thats a pretty weird deal and I was wondering if there is a scam behind it. I would appreciate it if someone familiar with the tri-state dealers has any ideas about this.

Diocletian · 05-14-2010, 12:28 PM

Never ever lease a sports car. You're pissing money away for the entire time you lease. It's better to finance and put down a good sized down payment to get you where you need to be. Don't forgot that financing on cars is a simple interest loan and you can pay towards the principal to lower your payments at any time or pay off the car entirely with no penalty.

Nimo · 05-14-2010, 06:35 PM

Well I've thought of that a lot and I decided that personally for me a lease works better than financing. Plus if I decide to buy it I can do it by the end of the lease or I can search for a brand new 370z to buy in 3 years. But for now I am interested only in leasing and from what I've seen so far, the offer this guy made me is kinda outrageous...

Diocletian · 05-14-2010, 07:17 PM

Be careful, you will almost ALWAYS owe more than the car is worth at the end of the lease. If you cannot afford to finance the car, don't buy it. That's just my opinion though.

Urzakor · 05-14-2010, 08:27 PM

You don't owe anything at the end of the end of the lease except maybe a few fees - fees that you don't have to pay if you decide to buy the car out for a pre-determined residual value.

With a lease, you're renting a vehicle for 3 years with the option to buy it out at the end. If it's worth more than than the buyout, then you have a deal. If it's worth less, then turn the car in and buy a different 3 year old 370z for less.

Granted, you almost never have equity at the end of a lease unless the car's value is much higher than what they expected. Then again, cars are a bad investment anyway.

That being said, the money factor is terrible on a 370z from what I've heard. If anything, that should be the reason why you don't lease a 370z.

Shift810 · 05-14-2010, 09:23 PM

What I personally like about leasing is the fact that you get a new car every three years. It seems like that is the perfect amount of time to have the same car, at the end you still like the car, but it is time for a change. But thats just me though, people are all different. Back on topic, that deal seems a bit odd, especially the fact that they are willing to finish off your last 8 payments. Just seems a bit too good to be true. I recommend doing some research on that dealership or if you know someone who has bought from them before, ask them if they've encountered any problems with them.

05-13-2010, 09:08 PM	#1 (permalink)
Nimo Base Member Join Date: May 2010 Location: New York Posts: 2 Drives: 09 Subaru Legacy GT Rep Power: 15	Weird Lease Deal Hello everybody this is my first post here. I have been doing some research on the 370z for a while now(pricing and specs I want), and I decided that I wanted to lease one probably in December 2010. That's why I went to a delearship in Queens NY called Star Nissan. After talking to the salesman he gave me a pretty insane offer. They would pay off my existing lease(8 months) and with no money down a 6MT Base + Sport Pckg would cost me 420$ a month for 3 years 10k m/year. Now from what I've read thats a pretty weird deal and I was wondering if there is a scam behind it. I would appreciate it if someone familiar with the tri-state dealers has any ideas about this.

05-14-2010, 12:28 PM	#2 (permalink)
Diocletian Enthusiast Member Join Date: Mar 2010 Location: Orlando, Fl Posts: 350 Drives: 09 370z CY A7 Rep Power: 15	Never ever lease a sports car. You're pissing money away for the entire time you lease. It's better to finance and put down a good sized down payment to get you where you need to be. Don't forgot that financing on cars is a simple interest loan and you can pay towards the principal to lower your payments at any time or pay off the car entirely with no penalty. __________________ Injen Dual CAI \| Illuminated Kick plates \| Stillen Sway bar kit \| F.I TDX w/ 12" Resonators \| F.I HFC's \| UpRev Tune \| 300HP/225tq Mustang Dyno

05-14-2010, 07:17 PM	#4 (permalink)
Diocletian Enthusiast Member Join Date: Mar 2010 Location: Orlando, Fl Posts: 350 Drives: 09 370z CY A7 Rep Power: 15	Be careful, you will almost ALWAYS owe more than the car is worth at the end of the lease. If you cannot afford to finance the car, don't buy it. That's just my opinion though. __________________ Injen Dual CAI \| Illuminated Kick plates \| Stillen Sway bar kit \| F.I TDX w/ 12" Resonators \| F.I HFC's \| UpRev Tune \| 300HP/225tq Mustang Dyno

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05-14-2010, 06:35 PM	#3 (permalink)
Nimo Base Member Join Date: May 2010 Location: New York Posts: 2 Drives: 09 Subaru Legacy GT Rep Power: 15	Well I've thought of that a lot and I decided that personally for me a lease works better than financing. Plus if I decide to buy it I can do it by the end of the lease or I can search for a brand new 370z to buy in 3 years. But for now I am interested only in leasing and from what I've seen so far, the offer this guy made me is kinda outrageous...

05-14-2010, 08:27 PM	#5 (permalink)
Urzakor Base Member Join Date: Jan 2010 Location: SoCal Posts: 71 Drives: not a Honda Rep Power: 15	You don't owe anything at the end of the end of the lease except maybe a few fees - fees that you don't have to pay if you decide to buy the car out for a pre-determined residual value. With a lease, you're renting a vehicle for 3 years with the option to buy it out at the end. If it's worth more than than the buyout, then you have a deal. If it's worth less, then turn the car in and buy a different 3 year old 370z for less. Granted, you almost never have equity at the end of a lease unless the car's value is much higher than what they expected. Then again, cars are a bad investment anyway. That being said, the money factor is terrible on a 370z from what I've heard. If anything, that should be the reason why you don't lease a 370z.

05-14-2010, 09:23 PM	#6 (permalink)
Shift810 Base Member Join Date: Sep 2009 Location: Az Posts: 23 Drives: 09 370z 6MT Rep Power: 16	What I personally like about leasing is the fact that you get a new car every three years. It seems like that is the perfect amount of time to have the same car, at the end you still like the car, but it is time for a change. But thats just me though, people are all different. Back on topic, that deal seems a bit odd, especially the fact that they are willing to finish off your last 8 payments. Just seems a bit too good to be true. I recommend doing some research on that dealership or if you know someone who has bought from them before, ask them if they've encountered any problems with them.