Newbie Lease follow-up!

[jenng]

Hi Everyone,

So I thought I would post some information about the offers I received for the CX-7. I used the internet to get some quotes from local dealers and here are the numbers...

2007, CX-7 GT AWD w/Tech Package
39 months/12,000 year
1,000 out of pocket
$439 everything included

2007, CX-7 Touring AWD w/Tech Package
39 months/12,000 year
1,000 out of pocket
$419 everything included

2007, CX-7 Sport AWD w/Tech Package
39 months/12,000 year
1,000 out of pocket
$389 everything included

I told the Salesman that I would contact him towards the end of May when my other lease is up, but so far, these numbers don't seem too far off.
I have researched the Murano, Honda Pilot, Acura RDX and BMW X3, and I still come back to the CX-7 for performance and value. My question is, is the difference in packages really worth the extra money? Is the Grand Touring really that plush compared to the Sport?

I also have to say I test drove the Honda Pilot, but as my sister said, it looks like a toaster on wheels, way too boxy!!!! I have to agree on that one, because it really is too square for my taste. I have been in a Honda CRV, 2003 EX-L for almost four years, and can't wait to trade it in. It was a good car, but it has no pickup whatsoever. The road noise is also pretty bad, and the blind spots are terrible. The Honda dealer I went to, wanted $428 a month for the top of the line Pilot, 3 years, 12,000 miles/year. Needless to say I walked out of the dealership after being harassed for an hour, who needs it... give me a CX-7 and call it a day.

(cabpatch)

 

[UpNorth]

I have an AWD sport and the only feature that I know I miss is the heated side mirrors that comes with the GT. I'm sure I would like & grow attached to some of the other features in the Touring and GT, but the reason I bought the CX-7 was for the way it drove, and as you note, for the fact it doesn't look like a toaster. That stays the same across all the models.

I have to confess I didn't look all that closely at the Touring or GT as the dealer had a red Sport on the lot and I really liked that color. I figured if I was happy with the Sport, why spend more money. (I indulged with a remote start & other winter features.) I applaud you for being less impulsive and more deliberate than I was.

I think you'll want to go by your own sense of the relative plushness of the models after testing/touching them all.

I'm sure you'll love whichever one you chose. I smile everytime I see mine and seem to make excuses to drive places.

 

[jenng]

Thanks for your reply. I rushed into my last car and realized it would have been better to wait. So this time around I am trying to be more patient. My mom swears by Mazdas for their preformance, because she used to have a Mazda MX-6 in red, and now has a Proteg wagon. Both cars had excellent reliability and were fun to drive, so she said you won't be dispappointed. I always drove Hondas because of their high ratings, but I think now the tables have turned. Good luck with your sport, I am looking at the copper red as well!

 

[Infymus]

You didn't list the total cost on those, including things like: Are they charging you a security deposit? Is your credit rating high enough?

I just bought my wife a CX9. I'm getting it for $429 a month for a 27 month lease. They waved costs for me left and right and brought the cost down to $34k - on a fully loaded CX9. When I'm done at the 27 mark, I will owe $24k on the car and have the option to either buy, trade or walk away.

Watch out for all of the fees. Nit pick. Ask why they can't wave some fees. There are even "Rental" fees (the cost the lease company charges YOU to "RENT" the car for the period of time) which is on TOP of all the other fees.

Read everything carefully. Ask lots of questions, take notes. And then DON'T SIGN. Walk out, say you're gonna make up your mind.

Then come here and write about it. I'm not here to sell you a car, so I've got not vested interest in getting you to change your mind and I'm doubtful anyone else here does either.

And going back to the CX7, my CX7 is loaded and I love it. It is nowhere as nice as the CX9, but the leather, nav, bose, remote start, auto everything sure is nice - far nicer than many Subarus I've owned in the past.

 

[Kansei]

Are those payments with any sort of down payment?

 

[jenng]

Hey Guys,

Thanks for the in depth responses and let me say first of all, I am by no means an expert on leases, and need to learn a lot about the fine print. In fact, I wasn't even sure these numbers the sales guy gave me were correct. My Husband and I assumed the quotes were based only on $1000 out of pocket (which we thought included Tax, Title & Inception fees), plus no money down. Until we walk into the dealer and sit down with a sales rep, we won't know for sure. I do promise everyone here, that as soon as that happens, I will surely get back on the forum and post the details. Everyone here has been great, and we appreciate all the feedback. I know leases can hide all certain kinds of hidden evil$, so until we are ready to make the deal, I am doing my homework. Thanks again for the information!!!

 

[Nash04]

Jen

Before leasing, read all the fine lines! They tend to hide some while leasing the car then rise up afterwards. Sometimes it's cheaper to purchase one then leasing it, it all depend on what kind of deal you make with your dealer and don't forget that there are other dealers around which would love to have you sign. Also, check their web site, sometimes they'll give you a discount if you start your sell on the web. I got $500 discount when I bought mine of the web, well! started the process on the web then finish the transaction at the best price local dealer.

Good Luck with your purchase(cool)

 

[nkabak]

Comparisions CX-9 vx. CX-7

[/QUOTE]
And going back to the CX7, my CX7 is loaded and I love it. It is nowhere as nice as the CX9, but the leather, nav, bose, remote start, auto everything sure is nice - far nicer than many Subarus I've owned in the past.[/QUOTE]

Please tell us what you think are the differences that make the CX-9 nicer than the CX-7.

Thanks,

 

[Infymus]

And going back to the CX7, my CX7 is loaded and I love it. It is nowhere as nice as the CX9, but the leather, nav, bose, remote start, auto everything sure is nice - far nicer than many Subarus I've owned in the past.[/QUOTE]

Please tell us what you think are the differences that make the CX-9 nicer than the CX-7.

Thanks,[/QUOTE]

Wow, that is difficult to begin. The CX9 is a car that is about $9k more than the CX7. The seats are far more plush. The wood grain is fantastic. Blue tooth, the higher BOSE system - overall BIGGER car, seven seats, tow package, memory seats...

Where do I begin?

The CX9 takes the CX7, makes it bigger, and styles it far better. But it is not a turbo engine, it doesn't have the "spunk" of the CX7, but it is an amazing car.

As a single driver going back and forth to work every day alone, the CX7 is perfect for me. I have every option there is available on the CX7 (as I have the Grand Touring +). The CX9 is perfect for my wife and kids as a family car. It's a big car. Bigger than the CX7, bigger engine, more space, more cargo room, and more passenger space. I can sit in the back of the CX9 in the 7th seating area, and my head (being 5' 11") doesn't hit the top.

It is difficult for me to compare the CX7 and the CX9 - they are two different cars. The CX7 is a small CUV, for the single person, or, one person driver. The CX9 is a family oriented luxury car (IMO), for the family. I got the sunroof version instead of the DVD version (because my kids have a $200 dollar DVD 7" dual screen system that attaches to the back of the front seats - a lot cheaper than $2k to $3k more for the DVD system).

I love both cars. But for my daily driver, I prefer the smaller CX7. For the family, and going on trips (I'm going on a $3k trip this year), I prefer the CX9. So much more room.

You have to go down and see one for yourself. The CX9 is - amazing. So much better than the over priced, bad ergonomically created Subaru B9 Tribeca (POS!).

 

[KatDiesel]

For comparision.....

I just leased a 07 Electric Blue GT AWD
Remote start
Sirius radio kit
All weather mats
Autodim mirror w/compass
Moonroof/Bose
Preferred equipment package
-Cargo tray
-Cargo net
-Wheel locks
-Rear bumper guard

36 month, 12k per year, 0 down = $400 a month (including taxes) no security deposit but they did want 1st months payment and $199 doc fee.....so $599 given at signing. And I got them to install front and rear splash guards to "seal" the deal. At first they offered 48month lease and a couple of days later they dropped it to 36month which I was much happier with.
Just picked it up today... (made them detail it again due to a couple of scratches and not as clean as it should be interior). Got them to agree to install a Homelink mirror for $250 (purchase & labor).

 

[AWmustang]

You can see what I have in my sig. No money down except 1st month, tax, title, and sec deposit.

$441 / month
27 months, 15,000 miles / year

Mine was with S plan and $1,000 auto show bonus.

 

[spike blue]

so everybody here is leasing??? i should of do the same!!! i purchase it for 72 months!!! well actually i gave that to my dad!! Still drive it though

 

[HeavyH20]

$194.03 per month, 27 months, 12K miles, $4500 down for a AWD GT with Bose, moonroof and homelink. That payment includes all taxes, and the down payment included the lease transfer fee, first month payment and $300 for the tabs. So, capital cost reduction of about $3500 and total payments of $5238.81, including tax.

So, add the out of pocket to the lease, and it is more like a total ownership cost of $359 per month. And, I will likely buy it at the end for the $19K residual.

My tactic is to bring the old laptop in with a spreadsheet to calculate all the items to see the real deal. Seems to work

I have also attached the spreadsheet I used. Comes in handy to figure out the minutiae of the lease.

 

[vbbuilt01]

$194.03 per month, 27 months, 12K miles, $4500 down for a AWD GT with Bose, moonroof and homelink. That payment includes all taxes, and the down payment included the lease transfer fee, first month payment and $300 for the tabs. So, capital cost reduction of about $3500 and total payments of $5238.81, including tax.

So, add the out of pocket to the lease, and it is more like a total ownership cost of $359 per month. And, I will likely buy it at the end for the $19K residual.

My tactic is to bring the old laptop in with a spreadsheet to calculate all the items to see the real deal. Seems to work

I have also attached the spreadsheet I used. Comes in handy to figure out the minutiae of the lease.

Nice tactic...makes the salesperson and manager see you mean business.

Curious about your driving habits...only 12,000 miles per year? You must drive another vehicle, to base your lease on such a small about of driving. What happens if you have 11,000 miles on it and you want to take the car on a vacation? What's the penalty?

Me? I've had my CX-7 since June 06, when they first came out and I just put over 20,000 miles on it (not quite a year's worth of driving). It's the only vehicle I drive. So, for me, leasing isn't an option. That 20K miles is just average, daily driving, to/from work, leisure activities, etc. (drive)

Later, Vince.

 

[HeavyH20]

I use it for work - 600 miles per month and some leisure driving - 300 miles per month. I only put on 12K max in a year. And, I am buying the car at the end of the lease, anyway. Other than that, 10,000 extra, for instance, would be a $1700 penalty.

 

[mazdamanxl]

Jen

Before leasing, read all the fine lines! They tend to hide some while leasing the car then rise up afterwards. Sometimes it's cheaper to purchase one then leasing it, it all depend on what kind of deal you make with your dealer and don't forget that there are other dealers around which would love to have you sign. Also, check their web site, sometimes they'll give you a discount if you start your sell on the web. I got $500 discount when I bought mine of the web, well! started the process on the web then finish the transaction at the best price local dealer.

Good Luck with your purchase(cool)

I really get a kick out of people when they say that dealers "hide things" in the paperwork. A lease is simple. You have a lease factor, a residual factor, an MSRP of the car and the sale price. All you need to do is take these 4 numbers and do a lease worksheet, (you can find them on the internet) or ask your accountant to run the numbers. The tax and tag depend on where you register the car. These numbers are out in the open, where is the hiding?!?!? A purchase is even easier, get a sale price and an interest rate, plug it into a financial calculater and you have your payment. Auto dealerships are not a Non-profit Organization. Circuit City makes more money on a flat screen TV than most dealers do on a $25,000 car. Find a car dealer that explains ALL your options and that you are comfortable dealing with, and do your homework.