Unfortunately, a few weeks back, my trusty 2006 Ford Explorer’s transmission failed and the car was totaled. Up to that point, I had begun saving to purchase a newly-used (2015-2016) car, originally targeting a buy-date of April of this year. However, this has forced my hand when it comes to a new vehicle (I’ve been spending $30 per day Lyfting to and from work while I try to figure out how to navigate the bus route).
For relevant details: I’m in the DC Metro Area (Virginia side), and looking for a mid-size SUV (I don’t need a Highlander or Pilot, per se, but need something bigger than a Ford Escape). Will be shooting for a 12k-15k lease and hope to get a sub-250 monthly payment. I have about 2,500-3,500 saved up for any necessary down payment, to help get into this range. If at all possible, would love to get heated seats and Android Auto, but understand that may be tough with my price range.
I’ve been doing some reading of this thread, as well as some other information on Edmunds and US News, etc., but still feel incredibly overwhelmed. A lot of the prep and research I did feels like it’s kind of been tossed aside.
250 will mostly be impossible to lease a new Ford Explorer let alone any SUV with 0 down. This site doesn’t recommend putting any money down in case you total the vehicle after driving out of the lot.
I think OP already mentioned that explorer might be tough but anything bigger than escape will be ideal
250 per month + 3500 down makes it ~350 with 0 down. In that case there are multiple options :-
Rav4, Rogue, Mazda cx5, VW tiguan 2018 can be close to 300(±25) with 0 down. BMW x1 2017 loaner ~350. Though all these are similar sized as escape
For a bigger sized - Ford edge , Nissan Murano, and even Highlander, infiniti QX 50(though old design and bad on gas average) along with Acura RDX can be possibility.
In terms of 7 seaters infiniti QX90 is also achievable .
OP - There are multiple threads here which can be searched and you might get some idea.
They just dropped the MSRP of the Tiguan SE (the trim that comes w Android Auto) by $2100. Not sure how this will affect leasing, hoping that the RV price stays same and therefore is a higher %, resulting in a cheaper lease. Waiting patiently for VW to announce the new numbers, and I think I might have to pull the trigger.
I saw various reviews of tiguan, but most of them complained about the responsiveness on lower gears when you start from a halt. Otherwise it looks like a great car
First of all, take a deep breath and do not feel overwhelmed. Do not rush into a lease or fall for any dealer sales tactics. While $30 a day in Lyft hurts, a few extra days of it will be much less than a bad lease you will be stuck in for three years (or 7 years in the case of someone who financed a car when he thought he was leasing it).
RAV4 and Rogue are probably doable at $250 a month with only first payment due at signing. Chevy Equinox will be a bit over $250 a month, but the redesign is amazing. You also have a great Chevy dealer not too far from you (Ourisman in Rockville, MD).
Do not put a down payment. If the car is totaled, you will probably never see that money again. Put it in a checking account and use it towards a higher car payment. $2700 over 36 months is an extra $75 that you can use towards your car payment. With the extra $75, your payment is theoretically $325. At $325, you can probably get a GMC Acadia, CX-5, Santa Fe, and maybe a few other small/mid-sized SUVs.
I would look at Rogue and RAV4 first. Both are roomy and I easily fit in the back seat of both (and I am 6’3")
Try @CDJRElliott, he’s in Leesburg. I don’t think he will give you a hacker worthy deal because his dealership is not the best, but at least he won’t play games. And you may get a better deal if you buy.
I can only help with a CDJR product. GCs are doing ok, but not as low as $250 with zero down. If the vehicle needs to be bigger than an Explorer, the Cherokee will be too small.
Hey everybody! Thanks for all the great responses, I’m skimming through them quickly at lunch and looks like I should clarify that the Explorer I had was a good size, but it’s not mandatory that I end up in another Explorer.
The Kia Sorento, Mazda CX-9, Honda CR-V, etc. that I test drove previously were all good sizes, I just couldn’t make due with anything like an HR-V, Sportage, CX-3, etc.
Again, thanks so much, I’m incredibly appreciative.
Since time seems to be on an essence, you can enlist help of one of the local brokers like @Benedetto or @nyclife and see what they can do for you, could be much cheaper to go that route than making a costly mistake if you never leased before.
You still have an option of just buying a used car if you happen to find the right one, seems like you tend to keep them longer than average.
What options are you looking for in your new rig? Are any absolute necessities? Depending on what you want in the new car will have an affect on what type of lease payment you’re going to get.
Wasn’t March of 2017 was when they had those crazy deals on Equinox for $150/mo or less? That could be a one off, and not necessarily indicative of that dealership doing great deals.
Another option to buy yourself some time could be Turo.com or zipcar.com if they have depots near ur home and work. I see cars on Turo for $25/day in the Dulles airport area, if you want to create a Turo acct and get a $25 credit use my referral link below,
I’ll look into this, but I know when I tried to rent through Hertz/Avis, the fact I wasn’t yet 25 was a problem and added an additional cost. Will that be the case here as well?
