Hello - I am a complete novice when it comes to leasing and am worried about signing a deal. (Arizona deal) I have a few questions on a deal I am considering. I am trading in a car with 6k equity and am being asked to put an additional 2k down for the deal attached below. Is this a good deal? I honestly don’t know and feel embarrassed about it. Also, they are trying to tell me that I won’t need 15k miles a year because I can trade in the car early - but I know I drive a lot and will use more than 12k a year. Is there merit to the claim that mileage isn’t a factor? They also told me that I have to pay tax on the whole purchase up front. Is that accurate? Thanks a ton and happy New Year!
If you ever find yourself with a dealer offer in front of you and you’re wondering if it’s a good deal, you’ve gotten ahead of yourself and set yourself up for failure. Take a step back from talking to dealers, spend some time reading through the leasing101 material to get a solid foundation on leasing, work out what your target good deal actually is in the vehicle you want, and then you can start thinking about reaching out to dealers to find someone to do your deal.
You can’t effectively negotiate if you don’t know where you’re trying to get to.
For starters there is zero (ZERO) merit to the dealer’s claim that mileage isn’t a factor. If you need 15k then tell the dealer to re-run the quote for 15k. They are just playing games to make the payment look lower.
And you are putting $9200 total down which is a huge (HUGE) no no. Do not do that.
You can still trade your car in, just have the dealer cut you a check back for the equity. Or if you want to pay the taxes and fees up front ($2k or whatever), then use the trade equity for that and get a check back for the balance.
As a newbie especially the trade can make it very hard to decipher the actual deal you’re getting on the new car. I would have the dealer remove the trade completely until later.
But as mentioned above you really need to step back, do some research, put together your target deal, etc. otherwise you’re setting yourself up for failure.
Thanks for the response. I did review the info prior to the post and, sadly, my mind isn’t built for understanding how the numbers work. I’m distrustful of “deal is only good for two days” types of sales and worry about leaping into something. I’m putting a ton of equity into it because i need to sell one car to afford the other. I cannot afford the extra payment.
I suspect this more of an issue of not putting the time in rather than not having the capability… The numbers aren’t very difficult once you identify the critical details. I find a lot of people get intimidated by the numbers and convince themselves that it’s beyond their abilities.
With that said, if you don’t want to spend the time, that’s cool. No one will hold that against you. Your best path forward in that case is finding a good broker to work with instead.
Going in to do it yourself AND not working out the numbers is just setting yourself up to light money on fire.
I agree 100%, it is the worst feeling in the universe, (well related to buying a car anyway LOL), when you are legitimately uninformed to such a degree…We’ve all been there before. It’s better to not go back there.
How does this look? This is after getting excoriated on the forum- i went back, renegotiated sales price, and am no longer putting 6,000 down. Thank you!
I’m sorry! It’s a Q5 premium plus. They merged my post. I went after the 5 because it has better incentives this month. The MSRP is 52085. How do you mean an SQ5 should be less than that? It doesn’t seem realistic. If that’s truly the case, I must be missing something profoundly obvious to everyone else on this forum and need major help.
I think most others have covered the lease pricing here but I’ll chime in and say: have you seen the Mazda CX-5? You will get a comparable experience for half the price.
