Originally Posted by Kurofox23 (Post 1385102)

Been lurking around here the past few weeks reading up on leaseing tips and finanancing opionions. It seems like the majority of the people on this forum are against leasing. My current situation is im in the process of selling an 05 cobalt ss/sc. I finainced that when i was 18 and still have 8000 left. It should sell for at least 11k if anything. I was going to play around with this car for the next 3 years and then probably get something more like the g37 which is more practical. Unless i absolutly fall inlove with it and dont want to part ways! What i got quoted for the 370 base is

Car price Base Model: 31,151
Tax:1967
tags/reg:298
Dealer Service fee: 699
Month Payment for 39/Mo $496 12k Miles a year. 0Down
(Money factor .00210) (Residual 18983.85)

Dealer fee is way much, im confident ill be able to drop that, aswell as add some goodies to the deal for the lease. With $0 down, that is a pretty good deal. BTW those numbers are with the cobalt traded in, correct?

With a car like my cobalt would it just make more sense to trade in the Cobalt and just sell the 370 in 3 years myself and maybe get that pent loan i kept reading about? Any room for improvement with the current deal? Thats pretty much the best ive seen for the local dealers in the area.

Thanks for all the good advice already ive learned through this forum! It just makes me more comfortable asking a questions straight out for my situation! Cant wait to get my z!

Originally Posted by somatic (Post 1385121)

leasing would actually be great for you. you can roll that negative equity in, and when the lease is over, it'll vanish when you return the car. Because, no offense intended, most dealerships are gonna offer you less than $8000 for the cobalt.


EDIT::wait, were those numbers with the cobalt traded in?

Originally Posted by Kurofox23 (Post 1385159)

Nope i havnt even mentioned trading anything in yet. So ill probably just privately sell it then. Its in great shape!

Originally Posted by kellyefields (Post 1385192)

If you are going to lease you should at least lease a sport/touring model. you will be happier in terms of the looks and feel. The base with sport package is a good start especially if you plan of modding heavily if you plan to purchase but for a lease get the better look and feel or you will be wanting to get out of the lease earlier especially if you keep lurking on this forum.

Originally Posted by Kurofox23 (Post 1385231)

Yah im going to test drive all 3 to get a feel for the differences. With a lease im 100% sure i wont mod anything what so ever since its pretty much like throwing money away in my opinion. Thats also why im not putting anything down as far as cap reduction goes. This is the only forum ive been poking around as far as this site goes, are you pretty much telling me to avoid the mods section then haha

Originally Posted by kellyefields (Post 1385254)

yeah becasue once your r bitten it does not stop. I have put every bolt on possible only to be happy just a little and now going SC. I will stop there just because I dont want to go turbo on this particular model.

Originally Posted by kellyefields (Post 1385450)

I cannot say anything bad about brandon nissan because they have treated me well when I need something (never bought a car there then again I avoid all dealerships when it comes to cars) other than the fact they are not a sponsor of our club anymore. Wesley Chapel nissan is the new chapter sponsor. when I get me car back late november we will have to hook up.

Originally Posted by Kurofox23 (Post 1385480)

Ive been talking to the internet sales manager at Brandon so far and he seems really nice, and hasnt tried to push me into anything. Answered all my questions and ill probably go in there tomorrow or wednesday to test drive. And yah for sure lemme know when you get it, goodbye cobaltss.net hello 370 :)

EDIT: Just thought of something to. Would it be smarter to wait and lease a 2012 because it will be worth more in 3 years? Or go for the 2011 because its a cheaper sales price?

Originally Posted by kellyefields (Post 1391685)

it being used you should be getting a better deal on it than that. sounds like they are trying to hide the cost of your vehicle in the OTD price. Simple fact is if you are going to buy from a dealership always talk the price of the car and settle on it before talking trade. If they know there is a trade involved they can pad the numbers to ensure they make theirs on the vehicle you are trading in. so talk new car price then know how much your trade is worth via NADA and then talk overall total that way you know exactly how much you are getting on everything you are doing.

So for example the car is 30 and you settle on 32 OTD then you talk trade and get 7k but you owe 8k. it should be the 32k + 1K = 33k OTD. now that is the simplified way of doing it but there is nothing hidden in that equation unlike the paperwork they do.

Originally Posted by Kurofox23 (Post 1385480)

Ive been talking to the internet sales manager at Brandon so far and he seems really nice, and hasnt tried to push me into anything. Answered all my questions and ill probably go in there tomorrow or wednesday to test drive. And yah for sure lemme know when you get it, goodbye cobaltss.net hello 370 :)

Originally Posted by RunNgun (Post 1391876)

The nicer they seem, they harder they are going to try screw you. It's all just an act, and they are NOT your friend.

Originally Posted by GraphiteZ (Post 1399512)

Thay are basically charging you 17% APR :eek: on your lease. You are basically paying more than $4.5k of interest in 39 months. I've never leased a car before. Is that normal?

Originally Posted by somatic (Post 1399524)

....where on earthe do you see that?

the Money factor is .00210, there isnt an APR on leases lol

Originally Posted by GraphiteZ (Post 1399554)

It is actually 15%. I don't quite understand how the money factor work.

Here is how I got my number.
Total cost of the car: 31,151+1,967+699+298 = 34,115
Residual of the car after 39 months = 18,984
That means the total depreciation of the car is 15,131

The deal requires him to pay 496 x 39 = 19,344

That means total interest in this deal is 4,213
With an Excel spreadsheet, that is 15.46% APR

Did I do it correctly?

Originally Posted by GraphiteZ (Post 1399554)

It is actually 15%. I don't quite understand how the money factor work.

Here is how I got my number.
Total cost of the car: 31,151+1,967+699+298 = 34,115
Residual of the car after 39 months = 18,984
That means the total depreciation of the car is 15,131

The deal requires him to pay 496 x 39 = 19,344

That means total interest in this deal is 4,213
With an Excel spreadsheet, that is 15.46% APR

Did I do it correctly?

Originally Posted by PasswordJDM (Post 1399596)

This is how you calculate what the money factor is equal to in interest rate

Interest Rate = Money Factor x 2400

Originally Posted by somatic (Post 1399597)

youre not accounting for projected mileage

Originally Posted by GraphiteZ (Post 1399641)

Is that the 12000 miles / year?

Originally Posted by LakeShow (Post 1399687)

Honestly man the Z is just not the car you lease. It's one of those cars you either buy or you don't. Your leasing a base model for nearly 500$ month essentially paying nearly or more than half the car. You might as well finance and pay 2 extra years and you own the car.

Originally Posted by somatic (Post 1399679)

should be

Originally Posted by GraphiteZ (Post 1399722)

I think the residual value of $18,984 has already accounted for the 36k miles projected miles by the time the lease end. Think about it this way, $18,984 is more like the price for a 3-year-old Z with 36k miles, than a 3-year-old Z with 0 mile.

Money factor is more like a sugar coated number. At the end of the day, he will be paying $4,000 of interest in 39 months. That doesn't look like 5% to me.

Originally Posted by Kurofox23 (Post 1391554)

SOOO. Im about to buy the base model. I found a used one with 1k miles on it. The car is going to be 30k and originally they were going to take in my cobalt for 5k i got them to 7 ( I owed 8k on it so i had negative equity they had to pay ) Total out the door for everything came out to 34500. I have no idea how people on this forum are getting there 370s for like 32k out the door with sports package because here in florida all the nissan dealers are barely dropping to 30 for the car!

Originally Posted by GraphiteZ (Post 1399722)

I think the residual value of $18,984 has already accounted for the 36k miles projected miles by the time the lease end. Think about it this way, $18,984 is more like the price for a 3-year-old Z with 36k miles, than a 3-year-old Z with 0 mile.

Money factor is more like a sugar coated number. At the end of the day, he will be paying $4,000 of interest in 39 months. That doesn't look like 5% to me.

Originally Posted by PapoZalsa (Post 1399785)

I got mine thru USAA. About $32K OTD Base w/Sport Pkg plus iluminated kick plates. Well it was in 09 but neverless it was new.

Originally Posted by elmz (Post 1401144)

OP, you're going to receive mixed opinions about leasing and a broad range of prices member paid for their Z. I personally think if you're going to pay that much you could fork out another $100 a month and own the car, but I don't know your financial situation. As far as OTD prices, I'm with you on that one, I don't know how some members got to those prices. I live in San Diego and I wasn't coming close to those figures, I ended driving to LA to get the best deal but it still was not as good as other have mentioned. Just use the information on here to educate yourself to get the best deal you can. Don't expect 28K OTD when it just not possible. My advice is to take your time and be prepared to "walk" on the deal a few times. Just make sure you're serious about buying and let them know that. Good luck.