Special lease or low APR on Mitsubishi Lancer Evolution
you gotta have been dropped on your head to finance a car for 72 months.
esp. an evo.
the issue with putting money down on a lease is that if tomorrow you total the car you might as well have used that money for toilet paper.
esp. an evo.
the issue with putting money down on a lease is that if tomorrow you total the car you might as well have used that money for toilet paper.
Newbie
Joined: Dec 2002
Posts: 27
Likes: 0
From: Suffolk, LI. NY
Besides, I have never owned a car longer than 2 years and 4 months.
There's no way I could go longer than 3 years...lol
Last edited by Rick; Sep 12, 2008 at 07:40 PM.
Newbie
Joined: Oct 2006
Posts: 87
Likes: 1
From: Virginia Beach, VA
Again, I needed to stay below $400 a month. A $500+ payment would have created problems with my wife, specially since she'll be needing a new car soon too.
Newbie
Joined: Dec 2002
Posts: 27
Likes: 0
From: Suffolk, LI. NY
The point he was trying to make is this...pay ZERO down... roll that extra 5k into the payment, which should be around $100 extra a month. Put the 5k that you would have put down into a Money Market Savings account or whatever you choose if you need to keep it liquid. Pay the difference of the car payment that you want and your actual car payment out of the MMSA and if anything happens say 12 months into the lease you still have 2.5k left that would have otherwise been flushed down the toilet. And if nothing happens by the time your lease is up, the account will be dry anyway and it cost you [next to] nothing for a little peace of mind and financial security. Personally, I don't put anything down on a new car either.. that is what GAP is for. And I keep my cars for 5+ years, so negative equity is not really an issue for me.
The point he was trying to make is this...pay ZERO down... roll that extra 5k into the payment, which should be around $100 extra a month. Put the 5k that you would have put down into a Money Market Savings account or whatever you choose if you need to keep it liquid. Pay the difference of the car payment that you want and your actual car payment out of the MMSA and if anything happens say 12 months into the lease you still have 2.5k left that would have otherwise been flushed down the toilet. And if nothing happens by the time your lease is up, the account will be dry anyway and it cost you [next to] nothing for a little peace of mind and financial security. Personally, I don't put anything down on a new car either.. that is what GAP is for. And I keep my cars for 5+ years, so negative equity is not really an issue for me.
Evolving Member
Joined: Feb 2007
Posts: 286
Likes: 0
From: Out in the Country
I don't quite understand how it would be your only option. What's wrong with the option listed above ?
Just to give you an idea, I have a 24 month lease on a RR GSR w/ every option. Sticker was $40,102. I put ZERO down on my lease, my money factor was 0.00183 and my residual was 67%. I pay $443.67 a month. Got a great deal on the car from Don Herring in TX and the lease from Navy Federal.
Since Navy Federal is a government entity, I didn't even have to pay sales tax when I registered the car because Navy Federal technically owns it.
So to summarize, $40K car for $443/month, 15k miles a year, 2 year lease. After that I can either buy it or drop it off and get a new one.
Just to give you an idea, I have a 24 month lease on a RR GSR w/ every option. Sticker was $40,102. I put ZERO down on my lease, my money factor was 0.00183 and my residual was 67%. I pay $443.67 a month. Got a great deal on the car from Don Herring in TX and the lease from Navy Federal.
Since Navy Federal is a government entity, I didn't even have to pay sales tax when I registered the car because Navy Federal technically owns it.
So to summarize, $40K car for $443/month, 15k miles a year, 2 year lease. After that I can either buy it or drop it off and get a new one.
Newbie
Joined: Dec 2002
Posts: 27
Likes: 0
From: Suffolk, LI. NY
I don't quite understand how it would be your only option. What's wrong with the option listed above ?
Just to give you an idea, I have a 24 month lease on a RR GSR w/ every option. Sticker was $40,102. I put ZERO down on my lease, my money factor was 0.00183 and my residual was 67%. I pay $443.67 a month. Got a great deal on the car from Don Herring in TX and the lease from Navy Federal.
Since Navy Federal is a government entity, I didn't even have to pay sales tax when I registered the car because Navy Federal technically owns it.
So to summarize, $40K car for $443/month, 15k miles a year, 2 year lease. After that I can either buy it or drop it off and get a new one.
Just to give you an idea, I have a 24 month lease on a RR GSR w/ every option. Sticker was $40,102. I put ZERO down on my lease, my money factor was 0.00183 and my residual was 67%. I pay $443.67 a month. Got a great deal on the car from Don Herring in TX and the lease from Navy Federal.
Since Navy Federal is a government entity, I didn't even have to pay sales tax when I registered the car because Navy Federal technically owns it.
So to summarize, $40K car for $443/month, 15k miles a year, 2 year lease. After that I can either buy it or drop it off and get a new one.
trust me i checked with 3 dealers, even one out of state and this was the best they would do for me.
Evolving Member
Joined: Feb 2007
Posts: 286
Likes: 0
From: Out in the Country
Evolving Member
Joined: Feb 2007
Posts: 286
Likes: 0
From: Out in the Country
That is bull****. The price is always negotiable. Walk away. The same thing with leases, they will tell you you have to accept MSRP. WRONG!!
