Good Lease Deal?

wheeladdicts

Hey Guys,

This is my first post here so please bare with me. I just left a deposit (refundable) on a specific car and I would like some input from the forum.

Details:
Brand New 2011 370Z ($33,300 MSRP)
Base Car
Automatic
Floor Mats

That's about it. This will be a project so just near a bare car.

Payments:
$3000 (includes first month, tax, title, etc)
$465/month
39 months

Am I getting hosed?

Thanks for looking!

Waiz

Sounds about right.

Captainstevo

Be sure to consider all the things about leasing a sports car....for instance, if your tires are shot at the end of the lease, you'll either have to replace them, or be charged a crazy high fee. On the average car this isn't a big deal, but our tires are crazy expensive. And most leasing company's don't let you put cheap tires on as replacements.

I personally wouldn't lease this car. I'm sure the residual is super low...

good luck!

wheeladdicts

Thanks guys. As noted the car is a project car so the stock tires will likely get less than 1000 miles by the lease end. It is a company car so it will benefit me to lease.

Just trying to make sure those lease numbers are good.

Xell

Are you still able to negotiate the price when leasing? Both the price of the MSRP and the price of the Residual?

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ilive2win

thats right but you need to negotiate the price

AMart

I leased a base w/ sport package 6sp for $2000 down (tax, title, ect) for 457/month for 39 months. MSRP a shade abover $34,000. Hope this helps.

chuckd05

2400 down, teir 1 .... 380 a month.... 15k miles / year - 16,6000 buyout which I will do.... for Base with Spoiler, Ill Kickplates, msrp was a shade under 31,000....


even though it was a good rate I regret leasing now as I am going to buy it out with the money I sunk in, but when I purchased I had the intentions of leaving it stock and not keeping it.. which was a moronic idea as I should know myself better , 5,000+ later into the car I will end up spending more than I should of...

but your lease is higher than mine, but rates were also better when I got mine..

__________________
09 370Z 6M PW - FBO Best 1/4 mile = 12.926 @ 109 SOLD -- 08 BMW 135i - FBO 12.1@120mph SOLD -- white 09 e92 335 Coupe Mtech - 11.9 @ 119 :-)

wheeladdicts

Thanks for all the help guys. I ended up pulling the trigger.

We will be signing up as sponsors here this week to let the build begin. Nothing crazy mainlybolt on's but stay posted.

Ended up with the following deal:

39 months
12k/year
$3000 down (including tax, tag, first payment, etc)
$430/month + tax

I agree it isn't the best idea to lease these cars but from a "shop car" stand point it works best.

hansoac

IDK man. Project and lease should never be used together in the same sentence.

m4a1mustang

Company car. He gets to play the tax game.

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wheeladdicts

I agree if we were building the motor and all it wouldn't make sense but this will be a mild build nothing crazy. We are just putting the car together to the point where it can go back to stock in one day.

leaselookup

The car buying has got very easy after going through this write-up. You can also take the benefit of the auto lease comparison website called leaselookup.com.

This website helps the car buyers to compare the auto lease deals from various auto lease providers. The comparison can be done at the click of a button and the best car lease deal can also be found here. It is very helpful to the new car buyers in terms of saving money and time.

Thanks
LeaseLookup

MacCool

I agree. My experience with leasing is that, at the end of the lease, I'm just ready to walk away from the car and concentrate on the next vehicle. Definite lack of interest in pulling off a bunch of mods before turning it back in, especially if those mods won't work on the new vehicle.

So far, I've never lost money on residual. My most recent lease of a GMC Sierra LT had a residual after 36 months of $21,000. I bought that one back since blue book retail was substantially higher. Likewise, the residual on my Z is $21,000 after 39 months. THEN I might buy it as a project car, or depending on value at the time, buy it and re-sell it, or...just turn it back in. I've found that you certainly can negotiate the purchase price (capitalization cost) on the front end (exactly the same as buying it), but the residual value is pretty fixed from a given leasing company and not negotiable. The only way to adjust the residual is to find a different leasing company with a lower residual. The concept of "no free lunch" applies here, however, in that your choices are usually lower residual/higher monthly payment or vice-versa.

I think leasing is a great way to go for some people, but not those who are high-mileage or want to do a bunch of mods.

kenchan

imho that base price is high... and 465 for 39 months? kinda long. you're going to be wasting like 22k for a car that's only worth about 32K... 10K more and you bought it. get the rate lower or base price lower or shorten the term