Need advice on whether this is a good deal or not...

$5k down
24 months (@ 12k/year)
$1500/month including tax

Car is a dealer demo with 4k miles. LC2 done at 39 miles, but car had it's 1k check up at 3800 miles and has 3 wheels that have curb rash, but were fixed.

What do you guys think?

 

Might be just me, but spending $41,000(24*1,500+5,000=$41,000) and not having anything to show for it after 24 months doesn't seem like the best decision in the world. Keep in mind I also have never looked into leasing and don't know much about it so if I am wrong please correct me.

 

What would be the residual to buy the car out at the end?

 

Just emailed the guy on the residual. We'll see.

Yeah, looking at the numbers that way is pretty scary. But it's paying down depreciation without financing the entire car's value, I can expense it on my company, and I like the idea of just giving it back at the end of the lease instead of trying to sell it. If the residual is way lower than what the car is worth, which definitely could be the case, then I could just pay it off and keep it or sell it. If things get hairy, I could always use swap-a-lease too.

Not completely sold on leases, but a part of me thinks it makes sense for the GTR.

 

Not sure how it being a demo, having LC2 or not, and whether it had any sort of damage in the past but was fixed -- makes any difference at all if its just a lease??
As long as it looks good and works when you get it, why does it matter?

A lease protects you from exactly those types of issues coming back to haunt you later...

 

A very good point. But if do end up in a situation where the car is worth much more than my residual, want to make sure there aren't any blemishes. Particularly if trying to sell it myself.

I already don't like the fact that the 1k checkup was done at 3800 miles. Wonder if that's a really bad thing or not. Dealer says it isn't, but it also took them about 3 sales guys and a service guy to understand what LC2 is, so....

 

^ It's good that you know all of this...

The 1k service isn't really a 'service', it's just an optimization to ensure that everything is seated properly. Between the transmission relearns, to engine bank balancing, it is just there to make sure it is working as designed.

The average owner who finances would pay about $10k down, and abour $1300/$1400 per month.

So this isn't a stretch. It's not a bad deal. Obviously, they are making money, but in my opinion, you aren't being taken either.

 

Residual is $45k

 

Curious whats the money factor? Selling price?

 

im on order for a 2011 GTR

 

the program isnt that good for 24 go to 36 or 39

 

Agreed, go for a 36 or 39 month program.

 

70k selling price. Not bad, not great. Pretty much get a 2010 for 2-5k more, but may be hard to find those deals. Do you guys find that leases are easier/harder to negotiate than a purchase?

 

I lease every car I plan to buy. Instead of traditional financing, where the monthly payments are high, I lease for 3 years, save the money for the residual during this time, and buy the car outright at the end. Keeps more money in my pocket for a longer time, and always saves me a few grand in interest.

I would never lease a car I didn't intend to buy. And I would never buy a car I didn't intend to keep. Cars can be the biggest waste of money...buy as few as you can, and keep 'em as long as you can.

J

 

What should a brand new 09 go for these days anyway? Seems difficult to price since 2011s will be out soon.