I’m new to Leasehackr and leasing in general. I was looking to lease a new Nissan 370Z Base or Sport. I went to the dealership closest to me (Northern California) and the sales rep said they only have the base with the heritage edition package.
The base car is $29,995 and the heritage package brings it up to $31020. I’m personally not a fan of the heritage package coloring but most dealerships only have the heritage version. The sales person offered me the following “deal” which I think is a bit excessive. When I pointed it out he said Nissans don’t lease very well and if that’s my concern I should just buy it out right.
He said the price would be $5000 down and $650 a month for the base and $690 a month for the sport. For the base that means I would be paying $28400 for a 3 year, 36k mile lease. I feel like that’s pretty bad considering the base price. I realize that the base doesn’t include taxes or the like but it still seems a bit higher than what I should expect. Does anyone have any advice or experience they can share with me about this? Is the sales rep correct that this is just how much a 370Z goes for or is it just horribly overpriced?
The base 370z has a residual of 54 percent which is actually not bad at all for a sport coupe that’s been around for 8 to 10 years now.
Do you absolutely have to have a new 370z? Used Nismos are dirt cheap and the base 370Z since 2017 model year has come under equipped compared to older 370z model years. I think that was to consolidate packaging and bring down costs on the car as sales continue to slide.
Also, an effective 800 dollar a month payment on a 30k dollar sports car? WTF?
Run away from that dealer as far as you can, the MF is around .00268 according to Edmunds, but even then, I don’t know how they’re getting up to that terrible deal.
If you really want the car, buy it out. I recommend going for lightly used 3 year old models. With low mileage. Just save yourself all the money
Even with zero discount and plugging in the 54% residual and 0.00268 residual that @StingerTT got from Edmunds, these are the rough numbers (not sure about your tax rate, etc.): $576/month w/$1063 DAS
That might be the worst lease I’ve seen in months. Have him send you a breakdown of the numbers so you can see what kind of hilariously bad numbers he’s trying to use.
When I got my Mazda MX-5 I was thinking about a 370Z. The reason I want to lease that one is because it would be a lot less equipped than my current MX-5. It’s a 2006 but it’s the limited edition and fully equipped. I’m not in a rush to switch since I only have 69k miles currently on my MX-5.
I was thinking since it’s very similar to the 350Z and the 370Z is desperately needing a complete redo after being roughly the same for almost 20 years that I would get a decent deal but it doesn’t look to be the case from what I found from that dealer. I mentioned that I have a good credit score (over 800) but he said it doesn’t matter much.
I saw a used 2016 with 20k miles for 21k but from a car rental place and I don’t know how bad that would be in terms of being abused. (Enterprise car rental sales). It’s the color I want though without the weird heritage color scheme. However, I’d like to lease if possible since in 3-4 years I plan to switch out to an SUV as I will likely be starting a family then if things go well. Also, I’d rather not have to sell another car. So many tire kickers on Craigslist. I currently have two running vehicles and it’s not that easy to sell for a good deal. Either they are just browsing or they are low ballers. Another reason I prefer to lease.
I didn’t get the breakdown, I don’t know if I would understand even if he did. I don’t really understand what money factor and the residuals jamiemose was talking about. Sorry I’m really new to leases…
Have you thought about trading the Miata in for an F-Pace? If you’re looking at 370Zs, the F Pace is a far better lease option and will absolutely make you feel far better about what you’re driving. It’s a beautiful car.
It’s ok. If you multiply the money factor by 2400, you get the interest rate. A .0001 money factor would be a .24% rate and a .00268 would be a 6.4% rate. The residual is just the percentage value the car is worth after the lease. If the residual is 54%, that means you are paying to “use” 46% of the car’s value over the lease period. Obviously, the lower the money factor and the higher the residual value, the better the lease.
StingerTT, I’ve thought about a few other cars as well but I keep thinking about the 370Z. I think since it was the other direct competitor car when I considered getting the MX-5 I’m now strongly considering it. I probably would have to sell the MX5 instead of trading it in which I’m dreading since so many people test drive manual cars around here just to learn stick. The problem with trading it in is its 12 years old so it’s past the used car loan period most banks have and dealerships usually give a really low trade in value compared to what you see on Craigslist. Another reason why I want to lease as I’m getting older now and I think I may want to switch to an SUV if I have kids in a few years.
No notaleasepro, it’s just what I was quoted and my coworker told me I should come here. I’ve been looking around a while but I’m new to leasing so I was just wondering what I should expect. I see a lot of good deals but not for this car and I was thinking maybe I can get some tips to how I should approach leasing it.
This website is great for understanding leasing! However, this is not what I would consider an enthusiastic car website. More a finance-focused place to be.
Everything you’ll see here is about finding the best vehicle for the money possible, regardless of personal preference.
The 370Z will never be a good lease with it’s numbers. You should absolutely buy it “lightly” used. It would cost the same as leasing, unfortunately.
I was thinking that but I’m a bit concerned about maintenance. One of the main reasons I want to switch is my MX5 has issues finding the parts that aren’t downgraded “value” parts. I went to multiple dealerships and contacted the OEM (Bilstein) which has had backorder status on the B6 struts for almost a year now.
Maintenance on any 370Z should be straight forward. It’s not a complicated sport car and it’s a very old design and uses common components with other Nissan vehicles. Buy 1 to 2 year old Z with less than 10k miles. You should be covered in that department.
Buy it on a 5 year note, trying credit unions for financing unless Nissan has special financing available, and sell it to Carmax, Vroom, etc. after three years. You’ll come out way ahead that way. You could probably get a BMW M3 for 5k down $650 month. That’s just cray
I was almost considering a lease deal on a Porsche 718 Cayman at that price. I saw a deal for 599/mo but it was really low mileage, around half. I was hoping I could get the Z at something more competitive like ~350 / mo all inclusive.
So basically pay the whole price of the car and then just give it back? Much better to buy it and trade it in in a few years if that is what you want to do.
