Leasing a 370z

Ninjahero

Anyone Leased a 370z and knows how it works?
I'm looking to lease a 370z 15K miles for 24 months.
I've been price quoted at $30200 for a SP/A7/GM 2014 370Z 4Mi

Just looking for information on the Z for leasing for one time payment vs monthly payments.

falconfixer

PM JungleZ

Ninjahero

Does he work for Nissan or something? Or leased a vehicle before?

JARblue

Best April Fool's joke I've seen today!!

No... don't bother.

I think leasing terms will vary from dealer to dealer.

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zae757

I wouldn't recommend leasing. If anything, buy used if you really want a Z because once you start seeing other modded Z's you'll get the itch...you can find a reasonable one for about 25k...leasing is just like borrowing your friends car because you have to give it back at the end of the day. You'll also be paying to drive this vehicle that's not yours at the end of the day.

Don't know your financial situation, but at the end of the day it's your decision. So just my opinion

Ninjahero

I plan on leasing then buying at the end of lease bc in my area we get a $5000 credit for leasing a vechile. + I only have to pay taxes on what I use instead of buying. So i'll be really getting the car for about 25K Brand new once i get back my 5K from my city.

synolimit

All wrong. It is yours, you can mod how you want, you can turn it into a purchase whenever, etc etc. With my lease I'll end up paying about 2k after it's all paid off in a lease/buy vs just a buy. It sucks to blow an extra 2k but its over years so it's not a huge deal. Beats having to pay over $600 a month when my lease is only $409.

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13 370z-

MacCool

Advantage to leasing us that you're only paying for the part of the car you're using rather than the whole car up front and hoping you get it out later when you sell it. Disadvantage is that it's not your car to modify. Me, leasing is great as I have exactly zero interest in mods and I do like the option of walking away at the end of the lease. I leased my last Z (2011 Sport/Touring). Residual value was $21,000 at the end of 39 months, KBB was $28,000. Buy it, resell it, pocket $7000.

synolimit

Just find out the payment. Then find out the residual. Then figure out what the residual price will be in a purchase over 1-6 years. Add up the two monthlies and see if you can live paying all that vs whatever the buy price will be over 1-6 years. If its close then I say go for the lease/buy only because the payment will be a lot lower the whole time.

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13 370z-

synolimit

But you can mod. I'd never turn in a lease where someone will go over it with a comb. You just trade it in like any normal trade-in on a new car. They will give you whatever they think its worth parts added or not. Normal people always remove the parts though and sell them for cash.

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13 370z-

MacCool

Sure. Either way is possible. I've just never cared to bother.

You can also sell it to the dealership, or they'll buy you out of the lease early and pocket that profit, pass it on to you. Some dealers even find the mods valuable depending on their market and the quality if the mods.

Ninjahero

wait what? I can sell the car to a dealership early to buyout of the lease???

synolimit

Yeah. You can sell it at any time or call for a buy out price and turn it into a normal bank loan. As I said its still your car. You will have a payoff amount and since its a car it's still worth a certain dollar. If you're ahead or behind you can still sell it. You'll have positive or negative equity though based on everything.

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13 370z-

MacCool

Sure, if they'll buy it, which they will if they can make a buck at it. Depends on the car, depends on their market. Whether of not it makes sense for you depends on your current buyout compared to the vehicle's market value. In my case, Nissan offered to waive my last three payments (re-lease incentive) and the dealer bought it 6 months before last payment which got me out of three additional payments. I got a good deal on a 2014 Z ($37,000 for Touring/Sport w/ Nav) and that not only included trucking it 500 miles to the dealer but delivering it 90 miles right to my garage (snow/ice packed roads). They got a good deal on an immaculate Touring Sport with 15,000 miles. They had to put tires on it, but they'll sell it for $28,000 (they tell me). They must have been right because I see that it's disappeared from their used car website already and there's still a foot of snow on the ground.

My daily driver is a 2008 Sierra that I originally leased. Residual value (set at the time the lease was executed) was $19,000. After the lease was up, I still needed a 4wd truck but there was no touching a low-mileage used 4x4 for less than$28,000 so I bought the vehicle for the residual value. I could have easily sold that immaculate GMC with its 38,000 miles it for $30,000, but I needed a truck, so I bought it for the $19k plus sales tax.

kenchan

yah, i dont usually lease a car but a while back i leased a dd and returned it a year early with no penalty to trade in for a dd i bough cash.

leasing a car is sort of similar to buying a car on a loan.. but it's not for me. maybe for company cars.