I got an email from the dealer where I leased our Santa Fe almost 3 years ago saying that they are running a promo to exchange my current car for a new model, keep the same monthly payment and just drive off with the new car. So, just out of curiosity, I called them, and the sales rep I spoke to confirmed that that’s what they’re doing. My current lease is $315/mo (back then I put $1500 down) on a Santa Fe SEL AWD. I’m going there for an oil change anyway next week (they threw in free oil changes at the time), do you think they’re going to honor their word? The car she showed me is: KM8JFCA12NU059848 . GiveMeTheVin offered me 28k for our Santa Fe (payoff amount $21k as of this week), and brokers here are pricing the Tucson Hybrid at around $350-$400 with $3k down. Anything I’m not seeing here?
So it’s $315 with $7k das or the equivalent of $525 with $0 das
Yea, it’s not really $0 DAS, they are most likely taking your trade equity into the deal.
That’s one way to look at it, indeed. The alternative though would be $400 with $3k DAS from a broker on LH. So isn’t it kind of the same in the end? Anyway, I’ll bring this up with her next week and see what she says. I’ll report back. Thank you, guys!
I would take the equity from GMTV and get into a car you want. Use a broker if need be to get the best pricing. You’ll probably do better than this offer from your dealer.
When a dealer reaches out to you, (instead of other way around), they are looking to make the most Profit from you and still make it look easy.
More than likely that any money they are giving you on the ‘trade in’ is 1/2 of what you can get on your own.
If you don’t like working hard for say $2000, then heck yah go to the dealer, trade it in, and find out the * fine print on that email you got.
Otherwise, a few steps (and see if a LHer broker will buy it from you and put you into a better deal) and you can have a few more Benjamins in your pocket.
It’s all up to you, fast and quick , or slow and steady.
If you think $3k + $400/mo for 3 yrs is the same as $7k + $315, I think you should do a lot more reading of the forum before next week’s oil change appt. Or you could just use a calculator.
You’ve got $17k vs $18k in those scenarios.
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Maximize the equity. Deposit the check. Check your bank balance to see that equity money is still real money, not some Monopoly™ fake-ass colored paper bullsheet.
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Start your new car search from a blank sheet of paper, not these putting-down-your-equity-as-CCR-in-the-next-lease shell games. Keep an open mind towards financing vs leasing depending on what makes the most financial sense.
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