Question about leasing

[eMKay]

What is an "Add Cap Cost" Is that supposed to be a cap reduction? To me it just looks like a fee or added cost that can be negotiated out. I'm a leasing newbie

MSRP $18,815
Initial cap cost $17,995
Total Add Cap Cost $475
Adjusted Cap Cost $18,470

 

[LambOfSilence]

I have no idea what cap means here, but my roommie is a saturn sales, maybe he will know...

 

[bmorton]

The cap cost (capital cost) is the price of the car used for calculating the lease. The cap cost reduction is your down payment, which would reduce the cap cost, not increase it. Looks like the $475 is a fee they're adding in there, so find out what it is in case it's negotiable.

 

[Yello_Pro5]

When I leased mine the saleman told me that I actually have to pay a tax on my down payment... All this paperwork is really complicated to understand... Like here in Quebec we have to pay a 3$ fee for each tire (including spare! for recycling, etc) and you get the provincial tax and federal tax added to this tax... Total rip off! So that cap cost is probably the tax on your down payment/exchange value.

 

[mts3]

By the sounds of those numbers, they are using a dismal $345 off of MSRP to base their lease.

I'd try harder. With the 0% financing available anyway until Sept 3rd, why aren't you buying?

 

[eMKay]

By the sounds of those numbers, they are using a dismal $345 off of MSRP to base their lease.

I'd try harder. With the 0% financing available anyway until Sept 3rd, why aren't you buying?

No cars left to finance equipped the way I want, I have to buy a 2003 :/

 

[blynzoo]

No cars left to finance equipped the way I want, I have to buy a 2003 :/

Jesus, then wait, or compromise. 0% is too good to pass up, and leasing is ALWAYS a bad idea, unless you dont want to do anything to your car, enjoy paying for extra miles, hate accruing any value on something you own (like renting a house for the rest of your life), and like the idea of making car payments in some form for the rest of your life (or at least until you buy a car).

Anything that a car company wants you to do, you probably dont want to do (e.g leasing).

But my uncle has been lease-only for 4 years now, so I guess I cant talk.

IMVHO, do as you wish.

 

[bmorton]

Ignore the anti-leasing BS. Financing can be attractive, but so can leasing, depending on your needs and situation, so make sure you make up your own mind on what's best. And find out what that $475 is for. You still have to pay freight & PDI on a lease, so that could be it.

 

[blynzoo]

Ignore the anti-leasing BS. Financing can be attractive, but so can leasing, depending on your needs and situation, so make sure you make up your own mind on what's best. And find out what that $475 is for. You still have to pay freight & PDI on a lease, so that could be it.

there are definitely advantages to both. if emkay is planning on doing a short lease 'till the car comes in, then good. However, for those of us who like to drive our cars into the ground, leasing is not feasible.