Advice on lease needed

[Sarona]

Hi everyone! I?ve got this deal on the table for a blue GT:

Trade-in value - $17000
Down payment - $5000
(I?d be getting a $12000 check back)
= $419/month for 36 months

How do these numbers look? The GT has a $2000 driver assist upgrade and that?s pretty much it. Sticker price is $43775.

Thoughts?

 

[MurlinatoR]

Hi everyone! I?ve got this deal on the table for a blue GT:

Trade-in value - $17000
Down payment - $5000
(I?d be getting a $12000 check back)
= $419/month for 36 months

How do these numbers look? The GT has a $2000 driver assist upgrade and that?s pretty much it. Sticker price is $43775.

Thoughts?

It's not good to simply work on payments, [MENTION=288]Sarona[/MENTION]. It's important to know the discounted sales price, the market values for your car, and what fees they are adding to make profit that you're not aware of.

 

[MarkyMark]

[MENTION=288]Sarona[/MENTION],

Yes, I agree with MurlinatoR. You need all the details. Look at some of the lease and buy threads here and you can learn a LOT!

The Residual of a GT is 54% of sticker, so that's $23,422.
$419 x 36 months = $15,084
Sub-Total: $38,506

You are putting in $22,000 (trade in + down payment)
You are getting a $12,000 check back

Thus, $10,000 goes into the lease?

$10,000 + $38,506 = $48,506

On the face of it, this looks like a horrible lease. HOWEVER, this is absolutely NO WAY to figure out the lease. Did they take money off the Residual with your down payment or what?

Feel free to throw out specific numbers, but if the dealer didn't give you them, go back and get:

? Lease Cash
? Adjusted Capital Cost (The price you negotiated with them off sticker - just like buying a car - and adding in the lease cash)
? Money Factor
? Residual Cost
? Title & License fee and taxes - and where did they pack that in?
? Where they are applying $17,000 for trade-in and where are they applying $5,000 down?

Get that info and you can quickly run numbers and see what they are doing and if it's a good deal or not. Without this info, you don't know much... But if you don't know much, the dealer knows everything, and odds are NOT in your favor at that point.

LASTLY: Your $17k trade-in and $5k down, that's $22,000. Just take that off the sticker price and you have $21,375 to borrow. At Kia's .9% interest rate, even a 48 month loan is only $454 a month. Just a thought...

 

[robz32]

I think he meant that the trade was worth $17k and from those $17k he was going to use $5k as down payment, and get a $12k check back.

Doesn't change the fact that the numbers don't look favorable for him, just clarifying. Definitely more info needed.

 

[MarkyMark]

I think he meant that the trade was worth $17k and from those $17k he was going to use $5k as down payment, and get a $12k check back.

Doesn't change the fact that the numbers don't look favorable for him, just clarifying. Definitely more info needed.

That makes a lot more sense. Thanks! But yes, needs all the data. ALL of it! Suffice to say, anyone I've seen coming with just lease numbers and the residual... it's been pretty bad. It also appears a lot of people do not understand how Lease Cash works, they see it as a cash-back rebate (like when purchasing a car), with is NOT even close to what Lease Cash is or how it ends up working, but I digress...

Yes, more information please.