is this reasonable?
- Thread starter BostonAmy
- Start date
How much are they charging you for the car? NOT the monthly payment, but buying price?
What will your buy-out be at the end (if you decide to keep it)?
How much mileage are they allowing you per year and what's the cost if you go over?
What are the fees for turning it in at the end of the lease?
How many years are you leasing for?
What will your buy-out be at the end (if you decide to keep it)?
How much mileage are they allowing you per year and what's the cost if you go over?
What are the fees for turning it in at the end of the lease?
How many years are you leasing for?
CXRabbit said:
these are very important questions. Also each state has different taxes associated with leasing, and this can impact the overall payment for identical vehicles in different states.
without seeing the actual calculations used in the lease, the figure sounds fairly reasonable. Again, many factors affect leases that you wouldnt normally see in a buy figure.
make sure you ask the questions the rabbit posed as well as:
What taxes are being applied?
What, if any, use tax is being applied?
also, what are you putting down on the vehicle? what is the total due? Are they rolling in taxes tags and license fees? or are they assumed in the Total due @ lease signing?
Good advice from B1GHAM too 
The best advice I ever read about buying a car was DO NOT buy it based on the monthly price. You STILL want to get a good deal on the actual PRICE of the car... only THEN can they work out the monthly figure for you at the best interest rate or money-factor you're eligible for.
The best advice I ever read about buying a car was DO NOT buy it based on the monthly price. You STILL want to get a good deal on the actual PRICE of the car... only THEN can they work out the monthly figure for you at the best interest rate or money-factor you're eligible for.
CXRabbit said:Good advice from B1GHAM too
The best advice I ever read about buying a car was DO NOT buy it based on the monthly price. You STILL want to get a good deal on the actual PRICE of the car... only THEN can they work out the monthly figure for you at the best interest rate or money-factor you're eligible for.
Shes right... monthly payments should be the secondary priority in your mind.
Its all going to come down to the monthly payment @ the end, but if the actual price of the car is a bad one? then nothing else will matter. I could sell you a mazda 3 and get you better monthly payments @ 2k over MSRP, but does it really matter if Im charging you 2k more than you should be spending?
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B1GHAM said:
Hehehe, I'm a she
Think about what we're saying - and also keep in mind that the reverse is true too... they could sell you the car at $200 over invoice (good price) and then charge you a higher interest rate or money factor. Make sure to SHOP your financing or leasing as well... you do NOT have to do it through the dealer and often you'll get a better interest rate OUTSIDE the dealer.
Example, I helped my mom buy her Mazda 3 -- she has pristine credit. Dealer couldn't go lower that 7% interest. She got 5.99% from her credit union.
It seems like a hassle, but it's one that is WORTH IT.
CXRabbit said:Hehehe, I'm a she
Think about what we're saying - and also keep in mind that the reverse is true too... they could sell you the car at $200 over invoice (good price) and then charge you a higher interest rate or money factor. Make sure to SHOP your financing or leasing as well... you do NOT have to do it through the dealer and often you'll get a better interest rate OUTSIDE the dealer.
Example, I helped my mom buy her Mazda 3 -- she has pristine credit. Dealer couldn't go lower that 7% interest. She got 5.99% from her credit union.
It seems like a hassle, but it's one that is WORTH IT.
fixed.... and unfortunately with the lease incentives now on the CX-7, theres no point in shopping around. However with buy figures, this stands true.
B1GHAM said:
Not always true. If the dealer really wants the sale they will sometimes give you the incentives anyway (like if they're offering cash back). It's always worth it to at least see what others will offer... takes no more effort than a few phones calls or web forms
I'm personally not a fan of leasing, but if you really don't intend at all to keep the car after 2 or 3 years I can see doing it. You just have to be careful with all the turn-in charges and mileage, and be sure to keep the car in good shape. Personally, I'd rather own it and then sell it privately when I'm ready to get a new car.
CXRabbit said:Not always true. If the dealer really wants the sale they will sometimes give you the incentives anyway (like if they're offering cash back). It's always worth it to at least see what others will offer... takes no more effort than a few phones calls or web forms
I'm personally not a fan of leasing, but if you really don't intend at all to keep the car after 2 or 3 years I can see doing it. You just have to be careful with all the turn-in charges and mileage, and be sure to keep the car in good shape. Personally, I'd rather own it and then sell it privately when I'm ready to get a new car.
owning then selling for some people can net them in negative equity, which is never fun... which is where leasing comes in handy.
as far as the incentives go... right now they are running a really agressive lease program with good buy outs and good res..... I wasnt speaking in terms of rebates or cashback. sorry
Thanks for the responses. Thats another question I wanted to ask to anyone with experience. I am at the end of my 2005 Mercury Mountaineer lease, and I obviously didn't want to ask the dealer because they will probably try and screw me but how do they go about my lease buy back? Will I get credit towards another vehicle or do I start from scratch with no trade in? (that would really suck)
BostonAmy said:
generally speaking you would be starting from scratch.
Best advice I can give with a lease turn-in. Find on your orig. contract what the buy back is... assuming youre not over in mileage, have the vehicle appraised as a trade-in towards the CX7. sometimes (rare) you will find out it would be better to trade it in than to turn it back to the leasing company. On rare occasions you will get a trade appraisal which is better than the buyback... which give you extra money!
dont be suprised if it doesnt though. If this is the case, call your leasing company (preferably ASAP) and setup an appointment to have them appraise the vehicle so you will know if any money is owed based on the condition of the vehicle. You will then know if you walk away clean, or on a downside, owe money (if this is the case... weigh it against the trade-appraisal and pick whichever favors your side).
Some states (such as delaware) offer tax refunds anytime you trade/sell/turn in a vehicle. Try asking around and see if there is any program like that in your area as well... it could save you hundreds of dollars.
Keep in mind they will also "play with" the trade-in value. You're best bet is to get the trade-in value FIRST, then negotiate buying price of the CX-7 (being fully aware of what invoice price is) -- otherwise they may try to do something like this: you get them down to invoice or just above on the CX-7 but they make up the difference by convincing you that your trade-in is really worth less than your thought (and less than it's really worth).
You should also go to multiple dealers for an appraisal.
You should also go to multiple dealers for an appraisal.
cruzdreamer
Member
- :
- Former owner of Mazda CX 7 GT Electric Blue
I always thought you should negotiate the new car price first and act as though you are not trading another car in so they can't play with the numbers based on knowing what your trade is. Leases are negotiable and based on the sales price and other factors. Negotiate an invoice price for your car and get it on paper. They are still making money. Don't settle for them saying it's a new vehicle and they aren't negotiating off list much...if so move on to the next dealer. Look at the what B1gham and CX rabbit had to say...good advice!
spike blue
Member
- :
- 2007 mazda CX-7,Kia sephia 2006 Audi A4 Sline
CXRabbit said:
Thats what i did!! I trade in my blue MSP with 90k miles on it and i own 10k they gave me for the msp 8,500k and the rest they put it in the cx-7 well the price was 24k+1500 was for 25900 with tax,title etc... i think i made i good deal!!!
There's two ways to look at that. If you don't get the trade-in appraised FIRST then they'll always try to come back with a lower value than it's really worth based on your haggling.
The BEST way to deal with it is to get the trade-in appraised at a few dealers... then go to a DIFFERENT dealer and talk price, as if you're buying without a trade in, and be first on what you want for the trade-in based on the appraisals you've already gotten (and looked up online).
And you should always look at selling privately too and see if you can make more money that way. My mother was only going to get $3500-$4000 for her trade-in... the highest she was offered was $4300 and they wouldn't budge, so she sold it privately for $6,000.
The BEST way to deal with it is to get the trade-in appraised at a few dealers... then go to a DIFFERENT dealer and talk price, as if you're buying without a trade in, and be first on what you want for the trade-in based on the appraisals you've already gotten (and looked up online).
And you should always look at selling privately too and see if you can make more money that way. My mother was only going to get $3500-$4000 for her trade-in... the highest she was offered was $4300 and they wouldn't budge, so she sold it privately for $6,000.
Quick hint for your trade-ins.
Dealers base their trade in on Kelly Blue Book 99% of the time. Even if you think ur car is in excellent condition, its not.
Your real trade value will be a good condition KBB value. Most dealers, if u have already tipped them on ur trade might even have the page printed out for ur first sit down.
Then, after you BS for a while about the worth of your car, the salesman will then say how they can buy ur car at a "wholesale" price at the auctions. That is a last ditch effort for you to accept their low ball offer.
If you cannot, AT ALL, sell ur ride privately, a KBB "good" condition offer is basically what you should expect at any car dealership. (unless u own a car that is in high demand in your area)
Dealers base their trade in on Kelly Blue Book 99% of the time. Even if you think ur car is in excellent condition, its not.
Your real trade value will be a good condition KBB value. Most dealers, if u have already tipped them on ur trade might even have the page printed out for ur first sit down.
Then, after you BS for a while about the worth of your car, the salesman will then say how they can buy ur car at a "wholesale" price at the auctions. That is a last ditch effort for you to accept their low ball offer.
If you cannot, AT ALL, sell ur ride privately, a KBB "good" condition offer is basically what you should expect at any car dealership. (unless u own a car that is in high demand in your area
)Whoever said always negotiate vehicle price first, then worry about trade is correct. I traded in an 85k mile tahoe i was upside down in. I went to several dealers and most had offered within $500 of each other for my tahoe so i knew what it was worth, then i went price shopping and found the CX-7 sport model for just under $21000. Also, have your vehicle appraised at carmax. Sometimes, you get a higher value there and can take the appraisal slip to the dealer and they will take yours in on trade then send it to carmax themselves.
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