As much as a $47,500 C300
Yep…mindblown…how stupid does someone have to be to pay 37200 in lease payments for a 27000 car?
It may be even worse, I was told by the VA DMV that on lease transfer you have to pay tax for “the sale price. On a lease transfer that would probably be NADA clean trade value”
So even if someone rolled the VA tax into the lease, you may have to pay the sales tax on full value of car again. Even if that’s an incorrect interpretation of the law by the DMV, I wouldn’t want to assume a VA lease in VA and then find the DMV was making me pay the full tax to get car registrated.
When i see this type of deal i always think there was some negative equity rolled in. If not, this type of deal should be illegal. Most states (that care about their residents) have laws against predatory lending.
Although that doesn’t seem right, it wouldn’t surprise me if Virginia did that. My thinking is that ownership has not changed, so there is no sales to collect tax on. I’ve never done it but who knows if the right deal comes along…
Yes but in all of these states, the dealer union is powerful. It’s totally crazy to me that you can go impulse lease a car in under an hour at 120% LTV (with the V being a rapidly depreciating asset) and 15% APR, but meanwhile if you take out a home equity loan for $5k at prime rate you have to sign 1,000 sheets of paper and wait 3 days for it to close.
VA effectively appears to treat leases the same as purchases, so not surprised they will tax the SP or book value every time
Got offered this deal today, manager did not want to budge. Came in for a gift card test drive (told them that after they gave me this horrendous price)
2018 Mercedes E300 RWD
Sale Price: $51,100
MF/Residal Not given
36/15k, 0 down came out to $856/mo.
They did not want to budge a dollar, even after 20 minutes of negotiation…not one dollar.
Merceds Benz of Catonsville.
It’s the first of the month. What do you expect?
It was a 2018 model, not 2019.
Yeah, I know…it’s still feb 1. They aren’t desperate for anything yet
That is true. I see people on here getting $8000-$9000 off MSRP for a 2019, and they were giving $6000 off a 2018 model, and RWD. How pathetic… Did not even want to budge few extra thousand lol.
Was the zero down the incentive to show you how great a deal it was
I asked for the 0 down. It was also 10k per year as I don’t drive more than that.
Why do you think they offer these gift cards? Because enough schmucks take these offers to justify the money they spend on GC
You keep getting these “horrendous” and “pathetic” offers on everything you look at. Maybe it’s the fact you’re not a good negotiator.
No possible way ever. It cannot be the case that someone could rub dealers the wrong way and get offers. Never happens.
And we have a winner. Close the thread.
That’s approaching $36k to drive a for 15 months. Wow.
One could alternatively purchase a loaded Camry and keep it. Holy that’s absurd.