Too good to be true?

[Jeff7181]

I got a notice in the mail from Nissan today saying they want to buy my leased car. It's an advertisement, not an actual letter. But I'm paying $355/mo right now for my 2008 Altima Coupe 2.5S... the terms of the deal are that they'll terminate my existing lease with no penalties and they're advertising a 2010 Altima 2.5S lease for $300 per month. There's also a note about getting up to $5000 cash back if you purchase a new car... not sure if this applies to a lease also, and I'm sure the whole thing depends on a credit check, but since I'm already leasing a car from them I think I should be fine. What am I missing... sounds too good to be true to get a brand new car (albiet 4-door rather than 2-door) for less than I'm paying now.

 

[lastig21]

How much longer do you have left on your lease? I doubt there is much to be concerned with. I've heard of several incentives offered by manufacturers to end the lease early, usually within the last year of a lease term. The offer may be tied to you having to lease/purchase a new Nissan. Could be a good deal if you are ready for another new car (and the payments attached).

 

[Jeff7181]

It was a 39 month lease... ends December 2010.

 

[angry hampster]

purchase != lease.


Even if they terminate your lees with no penalties, you'll still have to put money down for the new one.

 

[fleabag]

I don't trust it but that's just me.. I dunno, I think the real question is, wtf are you leasing your cars??

 

[Jeff7181]

They also have a 2010 Sentra SR listed for $0 down and $199/mo... I'm seriously considering that since it would be nice to have another $150/mo available for other things.

 

[fleabag]

They also have a 2010 Sentra SR listed for $0 down and $199/mo... I'm seriously considering that since it would be nice to have another $150/mo available for other things.

why not be smart and not lease? Do you own a business or are doing this for tax purposes or something? Why in the world would you lease a car?

 

[Jeff7181]

why not be smart and not lease? Do you own a business or are doing this for tax purposes or something? Why in the world would you lease a car?

Why are you so concerned?

I got the '08 Altima because I wanted a new car at least once in my life and money was not much of an issue at the time.

I want to lease again because I can't easily get a car of the same quality for $200/mo with no money down. Even $300/mo isn't bad if I can do it with no money down, but given my current situation, $200/mo for a brand new car would be fantastic.

Plus, I'm already bored with the '08 Altima. I didn't even get to enjoy its newness for long because a couple months after I bought it, it was vandalized. Then a month or so after that the windshield got cracked by a rock on my way home from work. At that point I was over it and I learned a couple things... I like new cars and I don't need a fancy car. So a brand new car for $200/mo is right up my alley... especially if I can get them to throw in what amounts to about 2 years worth of free oil changes like last time.

 

[Bignate603]

why not be smart and not lease? Do you own a business or are doing this for tax purposes or something? Why in the world would you lease a car?

After the things that you're planning on doing to your car to save gas I don't think you're qualified to talk to anyone about how to save money on cars.

 

[fleabag]

Why are you so concerned?

I got the '08 Altima because I wanted a new car at least once in my life and money was not much of an issue at the time.

I want to lease again because I can't easily get a car of the same quality for $200/mo with no money down. Even $300/mo isn't bad if I can do it with no money down, but given my current situation, $200/mo for a brand new car would be fantastic.

Plus, I'm already bored with the '08 Altima. I didn't even get to enjoy its newness for long because a couple months after I bought it, it was vandalized. Then a month or so after that the windshield got cracked by a rock on my way home from work. At that point I was over it and I learned a couple things... I like new cars and I don't need a fancy car. So a brand new car for $200/mo is right up my alley... especially if I can get them to throw in what amounts to about 2 years worth of free oil changes like last time.

See, that's the problem.. You obviously cannot afford it and therefore you shouldn't be owning it. Leasing a car is a major financial mistake..

After the things that you're planning on doing to your car to save gas I don't think you're qualified to talk to anyone about how to save money on cars.

Oh shut the fuck up. I shouldn't even be responding to your trollish post but in case someone actually gives what you say a second thought, I'd just like to point out some things..

Firstly, there is no way I'm going to spend more in modifying my car to save fuel than this guy is going to spend just LEASING his cars.. In one year of this guy leasing his stupid car, he'd already have enough money to buy my car, IN FULL. With the amount of money he spent leasing that car for 3 years, he'd have enough money to buy a car and replace every single part that could possibly fail in that car. Spending $10,800 on a car he doesn't even won't even own.. how stupid is that? After three years, he is left with nothing..why? So that he can say he drives a new car? This guy better not be in his 30s because he should know better by then.


Doing a very quick search, I found this:
http://www.moneycrashers.com/seven-reasons-why-leasing-a-car-is-a-bad-deal/

I can't believe Bignate would go out of his way to discredit me on something I'd figure anyone with a brain would agree with me on.. Either you're just a troll looking to attack me at all angles or you're just as clueless as I fear you to be.. I understand you don't know that it's ok to inflate your tires to sidewall, I do, but that's not excuse not to know leasing is a terrible idea..

Hey Jeff, just remember that with your $350 a month for 39 months, you just spent $13,650 on a car you don't even own.. That's not even including things like maintenance and whatnot. Leasing is basically like living on credit, a terrible idea that will get you NOWHERE in life...

 

[PhoKingGuy]

I decided to buy my Jetta instead of leasing it, but I would have paid 300 a month for it. But i'm getting 45-50 mpg in a car that has a sat nav, premium audio, leather, butt heaters etc. I'm not going to drive a shitter civic with whatever the hell you wanted to do for it to get the same mileage.

Some of us enjoy driving, and are willing to pay for it. Thats what happens when you have a real job

 

[fleabag]

I decided to buy my Jetta instead of leasing it, but I would have paid 300 a month for it. But i'm getting 45-50 mpg in a car that has a sat nav, premium audio, leather, butt heaters etc. I'm not going to drive a shitter civic with whatever the hell you wanted to do for it to get the same mileage.

Some of us enjoy driving, and are willing to pay for it. Thats what happens when you have a real job

But what percent of your route is highway miles and what percent is city miles? Also a civic can be quite nice when you give it enough amenities, just look at the JDM civics what with their heated seats, heated and folding mirrors, fog lights, interior clock, sway bars, Limited Slip Differentials, ... or how about the non JDM but still luxurious feature such as fully leather interior? The Civic can be as cheap and spartan or as luxurious and fully featured as you like.. The reason civics are perceived as being cheap in the U.S is because that's how most of them are sold here as, since most people in the U.S associate luxury with "big". To have a luxurious small car some counter-intuitive. So most of the luxury features are for the civics sold elsewhere like in Japan or in Europe where they don't have such large vehicles.

I have to say my car is pretty damn nice, especially considering its mileage and age. Considering that I've driven newer & more luxurious cars that were more expensive when they were new compared with my Civic when it was new, I'd say I have a pretty good idea the differences between a luxury car and an economy car.. Now if you were talking about the Geo Metro or the Chevrolet Sprint, then I'd agree as that was a car that was cheap from the ground up.

Oh and as for your Jetta TDI, if I go off of its rated fuel economy (you may be hypermiling a bit/driving slow or primarily cruising the highway in your commute), it turns out that your car while rated at 34mpg average has the same emissions profile as that of a car that gets 29/30mpg average. Another factoid is that a CNG car that gets 27mpg average has the same emissions profile as a gasoline based car that gets 34mpg average.

 

[exdeath]

Leasing is no worse than spending $25,000 on a car that isn't worth $8,000 by the time you pay if off in 4+ years. Don't forget to add interest if you didn't pay in cash.

 

[fleabag]

Leasing is no worse than spending $25,000 on a car that isn't worth $8,000 by the time you pay if off in 4+ years.

The idea usually is that once the loan is paid off, if the person is smart, they'll keep the car until something or a lot of things go wrong at once. When the lease is over however, they're being forced into getting themselves into more debt once again.

 

[exdeath]

The idea usually is that once the loan is paid off, if the person is smart, they'll keep the car until something or a lot of things go wrong at once. When the lease is over however, they're being forced into getting themselves into more debt once again.

It's completely situational. For some, leases work out to be more cost effective. I'm only addressing the misconception that you get to keep your money if you own the car; depreciation is a bitch.

$200 a month for 10 years = $24,000 (plus whatever) to have a new car every year, often a step up from what you could afford to buy, that has zero long term maintenance hassles vs buying a $24,000 car that you keep for 10 years at which point it's worth 1/3 of that. In addition you have 9 years of maintenance on a high mileage car, that you might get sick of and end up buying a new one anyway.

Just saying. Leasing can be the smarter option for some people. It's not for everyone.

$350 a month for 39 months, you just spent $13,650 on a car you don't even own.

No different than spending $13,650 + $2000 interest on a car you do own that is worth $2,000 by the time you finally own it. A car is not an investment no matter how you look at it.

 

[fleabag]

It's completely situational. For some, leases work out to be more cost effective. I'm only addressing the misconception that you get to keep your money if you own the car; depreciation is a bitch.

$200 a month for 10 years = $24,000 (plus whatever) to have a new car every year, often a step up from what you could afford to buy, that has zero long term maintenance hassles vs buying a $24,000 car that you keep for 10 years at which point it's worth 1/3 of that. In addition you have 9 years of maintenance on a high mileage car, that you might get sick of and end up buying a new one anyway.

Just saying. Leasing can be the smarter option for some people. It's not for everyone.

Leasing is only smarter if it's a business expense which just so happens to be more advantageous for tax purposes than buying outright or if you're already doing something stupid like getting a new car every three years.

 

[PhoKingGuy]

But what percent of your route is highway miles and what percent is city miles? Also a civic can be quite nice when you give it enough amenities, just look at the JDM civics what with their heated seats, heated and folding mirrors, fog lights, interior clock, sway bars, Limited Slip Differentials, ... or how about the non JDM but still luxurious feature such as fully leather interior? The Civic can be as cheap and spartan or as luxurious and fully featured as you like.. The reason civics are perceived as being cheap in the U.S is because that's how most of them are sold here as, since most people in the U.S associate luxury with "big". To have a luxurious small car some counter-intuitive. So most of the luxury features are for the civics sold elsewhere like in Japan or in Europe where they don't have such large vehicles.

I have to say my car is pretty damn nice, especially considering its mileage and age. Considering that I've driven newer & more luxurious cars that were more expensive when they were new compared with my Civic when it was new, I'd say I have a pretty good idea the differences between a luxury car and an economy car.. Now if you were talking about the Geo Metro or the Chevrolet Sprint, then I'd agree as that was a car that was cheap from the ground up.

Oh and as for your Jetta TDI, if I go off of its rated fuel economy (you may be hypermiling a bit/driving slow or primarily cruising the highway in your commute), it turns out that your car while rated at 34mpg average has the same emissions profile as that of a car that gets 29/30mpg average. Another factoid is that a CNG car that gets 27mpg average has the same emissions profile as a gasoline based car that gets 34mpg average.

Lol clock?????? My TDI has full voice command controls, rides better than a civic, handles better than a civic, looks better than a civic and even has 3 years of included maintenance. My commute is like 80% highway anyway and i could give two shits about the emissions profile

Try driving a real luxury car, my father has a 535i and my uncle has an s550, then you'll know what its like.

 

[fleabag]

Lol clock?????? My TDI has full voice command controls, rides better than a civic, handles better than a civic, looks better than a civic and even has 3 years of included maintenance. My commute is like 80% highway anyway and i could give two shits about the emissions profile

Try driving a real luxury car, my father has a 535i and my uncle has an s550, then you'll know what its like.

I'm talking about a car made in 1992/1996....

 

[fleabag]

Lol clock?????? My TDI has full voice command controls, rides better than a civic, handles better than a civic, looks better than a civic and even has 3 years of included maintenance. My commute is like 80% highway anyway and i could give two shits about the emissions profile

Try driving a real luxury car, my father has a 535i and my uncle has an s550, then you'll know what its like.

A Lexus LS400 and LS430 is "luxurious enough" for me.. Forgot to mention that some civics had trunk and dash mounted CD players.. Fit one disc in the front of the car and then like 5-8CDs in a type of cassette cartridge type thing in the trunk. I was taken aback to see this in a civic considering the first time I had ever seen a contraption like that was in an LS400 and a Toyota Land Cruiser. Just to clarify, my car does not have this but I did see some of the "luxury" features for civics listed on craigslist.. The most ironic part about my civic and the one thing that really got me to buy the car was the head room.. I have a so much head room that I feel like I'm driving a truck!

 

[exdeath]

A clock? Really? My beater 95 Toyota has a clock (in the dash, not on the radio). And sway bars. And my fun car that is supposed to be raw and non luxury has folding mirrors that I don't even give two shits about. I've ridden in Kias with leather seats lol.

And who still uses CDs in 2010?

 

[fleabag]

A clock? Really? My beater 95 Toyota has a clock (in the dash, not on the radio). And sway bars. And my fun car that is supposed to be raw and non luxury has folding mirrors that I don't even give two shits about. I've ridden in Kias with leather seats lol.

Yeah, well that's because it comes with a POS suspension.. In fact, in 1998, the reviews were so awful of the new corolla that Toyota decided to make the Sway bar standard on its Corollas till 2002. The Civic has a double wishbone suspension so it doesn't really need all that much assistance in the handling department as it was.. '88-'00 were the best civics ever made, I hate the new garbage especially 2006+.

 

[exdeath]

Yeah, well that's because it comes with a POS suspension.. In fact, in 1998, the reviews were so awful of the new corolla that Toyota decided to make the Sway bar standard on its Corollas till 2002. The Civic has a double wishbone suspension so it doesn't really need all that much assistance in the handling department as it was.. '88-'00 were the best civics ever made, I hate the new garbage especially 2006+.

Double A arm suspension setups benefit from a swaybar just as much as any other suspension... all double A arm does is improve dynamic camber curve, it has no influence on body roll.

Most if not all domestics from the 50s-70s, including most muscle cars, had double wishbone suspensions too. In fact I was just observing the shim packs at the chassis mounting point of the upper control arm of a 1958 Chevy Delray used to set camber/caster alignment. I bet it handles like a Ferrari with that 733t double wishbone setup (which has a swaybar). A 2005 M3 doesn't even have double wishbones!

Anyway... it's late and this thread is being derailed.

 

[fleabag]

Double wishbone > Twist beam

ANY DAY!

 

[Jeff7181]

fleabag, normally I wouldn't continue to dignify your posts with a response, but I'm going to because I woke up and can't get back to sleep.

I think if you actually did the math you'd realize leasing a car isn't such a bad financial decision. Plus, there are other benefits to leasing... for example... the staff at the dealership are MUCH more responsive to my complaints when I tell them I notice something odd with the car than they are to my friend who owns his Nissan. It is, after all, Nissan's car, not mine... they should be interested in any problems it's having because they're going to get it back when I'm done with it. I can afford the car as it is. I'm not rich, but I can afford it... it's all about what I want to spend my discretionary income on. That's why it hasn't been repossessed.

However, I'm at a different point in my life and I'd like to use that money for something else now (I'm buying my own condo, money will be tight for a few months), so I'd like to step down to something cheaper. My intention when I got the '08 was to lease it and buy it at the end of the lease. Things change.

I fully understand your position and you're not going to change my mind. I will never own a car and run it into the ground. I'd much rather always have a car payment and never worry about any of the stuff that comes with owning a car for several years. Replacing tires... replacing batteries... rust... drive-train components failing out of warranty... door and window seals drying up and failing... seat cushions getting worn and not providing a comfortable ride... shocks going bad... springs weakening and causing the car to sag... brake jobs... all that sort of stuff.

I can deal with all of the above in a friend's garage without anyone's help. I graduated from the University of Northwestern-Ohio... I've rebuilt transmissions, engines, rear ends, trans-axles, transfer cases, done suspension work, replaced complete brake systems, I'm MACS certified, I've even done body work including fabricating a fiberglass hood for a '79 Mustang Cobra. I passed the ASE tests for Electrical/Electronic Systems and Engine Performance in 2001 but didn't stay in the industry long enough to get the work experienced required to actually obtain the certs. So it's not due to a lack of knowledge.

This is my choice because I have better things to do with my time regardless of whether it makes financial sense TO YOU. My car is no longer my hobby... it's transportation, plain and simple. I had fun with the '08 Altima, it was worth the money I've been paying for it... now the newness is gone, I'm bored with it and rather than get into a 45k CTS (those are beautiful cars, I'd love to have one but not for the price) I'd rather spend $200/mo on a new, reliable car that gets good mileage. After all... if I have the urge to drive something more sporty, I have a ZX6R.

 

[ShawnD1]

Luckily most automaker websites make the buy/lease issue simple because the site does all the calculations for you.

The numbers for my Toyota are as follows:
60 month purchase: $23,997
60 month lease: $22,835

What a killer deal! For an extra $1,000 I get to buy the car instead of lease it. Even if the car sucks and I want to get rid of it, I'm pretty sure I could sell it on kijiji or even sell it to the dealership.

Another example if the Nissan Sentra SE-R spec V with the limited slip package (I'd love to have this car)
60 month purchase: $25,881
60 month lease: $24,649

Again, about $1000 difference between renting it for 5 years and buying it. Buy it, drive it 5 years, trade it in