Ok so some of you know I am looking to return to the Maxima fam. Had a 97 way back when and loved it. Now I am loking to lease a brand new one. I have moved closer to work and don't drive very many miles any longer.
I have about $5500 negative equity in my 07 M35x.
I am going to lease a 2010 loaded with navi. I have to put $1000 down and pay $550 a month. I think its a pretty good deal. I know I am paying more because of my trade but I am ok with it as in 3 years I will be free and clear and have the option to do whatever I want. What do u guys think?

 

Honestly this is all a matter of personal finances but even through I very much enjoy my car, if I had to do it again, I would buy something used for no more then 20k, your driving an 07 M35X which is better then most cars on the road, try taking a corolla or a yaris for a test drive, you owe 5500 in negative equity, and your solution to the problem is to lease a car, that they will role the negative equity into and you make 20800 in payments to resolve the issue, does not sound smart, seems more like your letting a new car and what others see you drive be the determining factor.

What you should do is work some overtime, double up some payments, keep your car, maybe add some personal mods to it, simple things can really change how you look at your car, get ahead, maybe pay off the car and then, focus on maybe saving up and eventually trading in the M with a sizable down payment and owning your next car in a year or 2.

Leasing is horrible, having a good job and being able to make lease payments should not be the reason to lease, leasing is only putting yourself into a car you really can't afford.

I've leased, and never should of, and I've seen people lease 7 series and S classes, and they should have never, bigger paycheck, more bills, more expensive BS, this looks like band aid over a gun shot wound.

 

thansk for the reply starr....

 

Your welcome, just remember at the end of the lease you will not have a car, and have to start the cycle over.

My 06 was leased, if I would have put 5k down when buying it I would have owned it by now, but because I did not stop to think about the long term, my job, the economy, how I had no education (having/wanting to go back to school), I just saw 500 a month, I sucked it up and traded the 06 in, it was leased and I bought it, but because of the negative equity, the fact that I owed 33k on a car that blue booked at 15k, I had no gap insurance, not to mention my father helped me out, but currently my 09 is financed and will be owned in several years.

I'm dealing with the cards I have been dealt, but I would not advise leasing a car, the 5500 you call negative is all mileage you put on, if you enjoyed the car then it's not really negative, dealers are not your friends, the only ones getting ahead with car sales are them, the next car purchase is gonna be a certain preowned/used car or cash, Im tired of feeling screwed.

They are your best friend, telling you what you want to hear to your face, you sign the agreement and you suddenly find some weird charges and fees added in, they are doing nothing more then feeding into the emotion and excitement of a new car.

Just remember in 2 or 3 months will it suddenly have hit you, I should have kept the M.

 

The most important point here, you've been fooled into thinking this sales guy is here to "help you out of a bind".

Driving a 07 M35x and you want to trade it in for a lease on a Maxima??? Seriously, why go backwards? And $550 for a lease is NOT a good deal, even with only $1000 down. You're definitely paying for the salesman's Jet-ski, because he WILL turn a huge profit over what ever he's giving you for trade-in. Seriously, you're hearing "negative equity", but you forget the car is worth far more to you than the trade-in offer.

Forget about it, and keep driving that nice ride...Let that salesman finance the jet-ski like the rest of us have to...

I'm not sure what a good going rate is for a lease on a loaded Max, I'd presume it's more like $450-$470 with $1000 down. Of course if I'm way off, that explains my position. Seriously, find out how much they would offer you the lease without the Negative trade in and $1000 down. I'm sure he can give you a ballpark.

 

I just leased a 2010 MAxima SV with Premium and Tech.

39 month term
15k miles /year

$411 per month (including 9% Penn sales tax)

Only 1st month and tags paid at signing.

You should reconsider your decision cause you will be paying your negative equity every month which would be a huge loss.

Good luck.

 

How much did you have to put down? I'm guessing $3000+, cause if you got that deal for 0 down, that's a killer payment...


Edit: I guess I should have read with both eyes open, "first month down"...so yeah, you're getting a killer lease rate there.

OP, all the more reason for you to reconsider. If they can't give you a better deal, closer to $450 at least, then you need to walk...

 

Hey guys, thanks for the comments. Basically at the payment now I would b paying the negative equity off with each payment I make for the next 3 years.
I am gettting rid of the M because I dont like it. It floats when you drive it, the nav is outdated, I should have never bought black and its out of warranty.
Yes I am upside down and will have to pay the negative eequity back over the next three years but after that I am free and clear to do whatever I want.
My friend is a car dealer hence why I am always buying cars randomly and exactly why I am in this position. If I lease I will be forced to keep the car for 3 years.
I love the maxima, the looks the way it drives all the features and would b perfectly happy owning it for 3 years. I just need to work the price better.

 

Their is no going rate, your paying a rate based on how popular the car is, when the 7th Gen came out my dealer wanted to lease me the car for 750 a month, and he did the salesman laugh saying it's a new car no one has

To the OP, put a 1000 down and buy an Altima, cars are such a waste of money when you don't have money and you sound like your justifying the purchase, don't forget gas, and oil changes well probably only tires should last the life of the lease.

Everyone wishes they can drive a new car, I have friends who sell cars, I don't talk with them cause they think it's feasible for me to trade my car in every 6 months and throw down 5k, but my car payment is the same

Good luck with what you decide to do, it seems like your mind is made up

 

Guys there is no issue of payment or having the money to get the car, I just was justifying paying the negative equity over the next 3 years. The way I figure it I am getting the car for $420 a month with first payment and fee being paid up front. Add in the negative equity and there u have it.

 

Whatever you do is all on you, you did ask for opinions, and that $5500 is with interest

Good Luck, can I ask what you do, what is your career

 

Opinions are cool. Im ok. Im not upset.

I own a car electronics business.

 

Any issue with me moving this discussion to the "how much..." sticky thread?

 

No problems from me brotha. I figured thats where this may end up just didnt want to ***** up that thread! thanks man

 

Never meant to upset, I'm in a somewhat similar situation, so just trying to advise, but I decided to buy, could not deal with the fact that I would be without a car in 3 years, and I know how sometimes you get bored/tired of your car, but I know enough that when the 3-4 year period hits I'll spruce it up, I already added limo tint, completely changed my car, feel like it's brand new again

 

i just bought my 09 three months ago. $380 a month FYI. financed 20K.