Something like that, you may have a surprising amount of positive equity because you’re basically financing at this point. Call for a payoff and compare what the car is worth… you may be enlightened.
Doubtful because the RV is fixed and GM rarely gives RV’s that result in positive equity. But it’s worth looking up the paperwork. That’s why I’m wondering how the terms could possibly be so bad - did you have horrible credit?
The RV would have to be below 40 percent and the MF astronomically high, probably pushing .003.
Either way, it’s ugly. This is assuming he got 0 dealer discount on the price and with the 1,500 down. RV of 40 kind of makes sense for a Cruze.
@StingerTT I certainly will call about the payoff - thanks for the tip
@ chrishs2000 - I will try to look for the paperwork when I get home. My credit was around 760 back then, and is in a similar range now.
Damn! Stop paying the lease and buy it/sell it now instead of throwing money down the drain.
His payoff at the end of the lease should be $23.00.
while looking at the new camry lease for my sister, we stopped by Honda Stevens Creek to see the Clarity (I’d seen some >$8k one time 36/10 lease deals on here, which is decent)…anyways,
was offered $1k down $550 per month, $2k down 489, $3k down $429
I didn’t even say bye to the sales man, just walked out. This was for touring with $37k MSRP, whats the point of even negotiating when they start with such ridiculous offers…
They assume every customer walking in is the guy with Q7 lease above. I took negotiations class in my MBA program and literally the first thing they taught was to be the side making the first offer so you can set the tone of negotiations. If you told the sales associate that you did your research and asked them to match the $8k one pay deals you have seen reported, he would have countered with a more realistic offer knowing that you are not the guy who leased the Q7…
Because people have gone in there and just laid down and took those deals. Be insulted by how uneducated some people are about what’s a “good deal”, or the fact that allot of people are stupid.
And, as has been said by many, we owe those who take the rubbish deals a “thanks” because that’s ultimately part of what makes room for the great deals that many of us seek.
Is it appropriate to post this here??
$2,500 down and $700 for a $47k TOYOTA 4 RUNNER?!?!?!?!?!??!
EDITED FOR Too many zeroes in my initial calculation. The MF makes this a terrible deal plus having no incentives makes this not a good lease.
I think it’s the lease one 4runner and get a lease for free deal
I can’t believe that guy is on LH trying to hock that terrible deal on here… Does he not know this isn’t the audience for that? He’s gotta be aware we would think that’s a terrible deal.
If wealthy foreigners could move markets the Meccas of leasing would be in Des Moines and Little Rock instead of SoCal and Tri-State area. It’s all perception combined with the weird way we sell cars. But it must be Terrible to live somewhere where dealers don’t want to/have to come off MSRP.
Guys, followed the advice of the fellow posters and the news is bleak.
OPTION 1: Terminate lease, pay remaining balance ($7500)
OPTION 2: Pay off of the car was quoted at $17000 or so. I can swear I heard the GM Financial rep say on the phone the MSRP of the 2017 Cruze LS was 23k.
OPTION: Turn the car in, put $0 down, and pay $300 a month for a 2018 Malibu LT.
At this point, I’m taking my losses and just waiting out the remainder of the lease…
How in God’s name is the payoff $17000? $23k is the MSRP of an LT not an LS. Post a copy of your contract because this all makes 0 sense
I’m on Boardwalk on this… none of this makes sense. Sure they pushed the correct paperwork, initially?
Option 4: List on Swapalease, add an incentive towards the take over, transfer out of lease taking a minimal loss.
This describes observation bias right there. There are only 2,124 international undergrads at UMich and only 18% of Ross is international.
Not all of them are Chinese.
Not all of them are wealthy.
Not all of them are driving M3s