emax02

iTrader: (1)

I was at my Nissan dealer today and asked him to give me a lease quote. Heres the #'s he wrote down for me.

39 Month 18,000 milles/year
MSRP $27,036 {02 6spd with sunroof and mats}
Cap Cost: $25,221
Residuel: $12,958(52 %)

Closing costs
1st: $450
2nd: $450
Bank: $450
Ring: $106.50{ I can't really make out if it is ring or not?}
7% Tax: $38.96
Total due at sighning: $1495.46
Monthly payments $450

Now I have no idea what all this stuff means? If someone can help me who knows about leasing could help? What do you think of this? What is cap cost? Also what do all those closing cost mean? It looks like I put down 3 months in advance, do I get this money back or what? Thanks a lot for helping me out . BTW My I30 is going on consinment at a nissan lot next week, so as soon as that sells I am golden .

Ohh yeah, I will probably change the plan to 12K miles a year and also put a few extra grand down at sighning, if I do this makes my payments at approx. $340 month.

Thanks again for your help..

thebigsadler

iTrader: (4)

leases suck.. my car basically came out to be 36gs instead of 32gs.. 4k slapped on through payments, plus we bought it off the lease and had to drop 16k in one shot.. ouch..

if it all works out smooth id say do it.. but leases are annoying

Confused

iTrader: (4)

Cap cost is a leasing term for the cost of the car (what the lease is based on) or what you would buy the car for. I would guess the 1st & 2nd are the first months payment and a security deposit. The bank fee is cost to you for the bank to process your paperwork (some question it's validity).

Personally I think Nissan leases suck because of the poor resale value but putting that aside the true value of a lease is to compare it to what it would cost you to buy/finance the car. Which is cheaper in the end? Other considerations are preferences for term of ownership of automobiles (do you want to trade in every 3 years, etc.) and remember there may be possible damage penalties at the end of the lease (at Nissan's discretion).

Which ever way you go you have to know your facts.
MSRP, dealer invoice, hidden charges and the cost of $$. A dealer will b/s you into a 12% loan when you can get if aftermarket for much less. Present that fact to them and all of a sudden the rates are matched.

emax02

iTrader: (1)

The big advantage of getting a lease is I can invest my money rather then drop all on the car up front. Once I sell my 2 cars I will have a rather large some of money in my pocket, I want to hang on to it and invest it all, maybe buy a house or something?

So I guess my nissan dealer will sell the new max at invoice to me, that's pretty sweet!

BTW I never hang onto a car for a long time, so getting a new car every three years is right up my alley .

Thanks for the help guys and keep the advice comming fellas!

emax02

iTrader: (1)

Actualy this is not really a good deal . I just checked out invoice pricing and the dealer is trying to sell the car almost $1K over invoice.I guess when the times comes I will bring the carsdirect $50 over invoice price . Payments will drop $28 a month when I do this!