Lease problems!
Apr 26, 2012, 08:23 PM
#31
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I think they are trying to hose you there, i think mitsu has their lease even listed on their web site. It's something like $3500 down plus security deposit and $350 a month.
Apr 26, 2012, 08:41 PM
#32
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Yes it is but read the fine print and go to the dealer. It's true $350 month with $3500 down but add taxes etc etc your still walking out with over $5k and again $350 for a base GSR.
Apr 26, 2012, 10:49 PM
#33
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There's a lot of things that are incorrect in this thread here.
First off, you have to finance through MMCA if you lease. You're "borrowing" their car.
Second, if you are buying a car always check with the dealer's lenders first, assuming they work with multiple lenders. Here's why: you take a loan from your credit union, what, maybe once every other year? We take loans from banks several times a day. 9 times out of 10 we're going to get a better rate than you can. On top of that, we pull your credit once and shop it around to 7 or 8 banks if we need it. If you shop around for a good rate, you're going to pull your credit 7 or 8 times.
Third, we NEVER recommend putting a bunch of money down on a lease. If you buy down the payments now, then it comes time to buy it out you either have to come up with a large chunk of money again, or pay a much higher monthly payment. Only lease with TTL + First month's payment.
Fourthly, you can't get 72 and 60 month terms for buying and leasing respectively without really good credit. If the bank is asking for proof of income, proof of residence and 5k down, you're credit is likely lower than 650.
Finally, a lease payment on a base GSR is going to be like $450/m at 48 months, with TTL + First months payment, assuming the sale price was around 34k.
First off, you have to finance through MMCA if you lease. You're "borrowing" their car.
Second, if you are buying a car always check with the dealer's lenders first, assuming they work with multiple lenders. Here's why: you take a loan from your credit union, what, maybe once every other year? We take loans from banks several times a day. 9 times out of 10 we're going to get a better rate than you can. On top of that, we pull your credit once and shop it around to 7 or 8 banks if we need it. If you shop around for a good rate, you're going to pull your credit 7 or 8 times.
Third, we NEVER recommend putting a bunch of money down on a lease. If you buy down the payments now, then it comes time to buy it out you either have to come up with a large chunk of money again, or pay a much higher monthly payment. Only lease with TTL + First month's payment.
Fourthly, you can't get 72 and 60 month terms for buying and leasing respectively without really good credit. If the bank is asking for proof of income, proof of residence and 5k down, you're credit is likely lower than 650.
Finally, a lease payment on a base GSR is going to be like $450/m at 48 months, with TTL + First months payment, assuming the sale price was around 34k.
Last edited by TrogdorWBL; Apr 26, 2012 at 10:55 PM.
Apr 27, 2012, 12:54 AM
#35
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There's a lot of things that are incorrect in this thread here.
First off, you have to finance through MMCA if you lease. You're "borrowing" their car.
Second, if you are buying a car always check with the dealer's lenders first, assuming they work with multiple lenders. Here's why: you take a loan from your credit union, what, maybe once every other year? We take loans from banks several times a day. 9 times out of 10 we're going to get a better rate than you can. On top of that, we pull your credit once and shop it around to 7 or 8 banks if we need it. If you shop around for a good rate, you're going to pull your credit 7 or 8 times.
Third, we NEVER recommend putting a bunch of money down on a lease. If you buy down the payments now, then it comes time to buy it out you either have to come up with a large chunk of money again, or pay a much higher monthly payment. Only lease with TTL + First month's payment.
Fourthly, you can't get 72 and 60 month terms for buying and leasing respectively without really good credit. If the bank is asking for proof of income, proof of residence and 5k down, you're credit is likely lower than 650.
Finally, a lease payment on a base GSR is going to be like $450/m at 48 months, with TTL + First months payment, assuming the sale price was around 34k.
First off, you have to finance through MMCA if you lease. You're "borrowing" their car.
Second, if you are buying a car always check with the dealer's lenders first, assuming they work with multiple lenders. Here's why: you take a loan from your credit union, what, maybe once every other year? We take loans from banks several times a day. 9 times out of 10 we're going to get a better rate than you can. On top of that, we pull your credit once and shop it around to 7 or 8 banks if we need it. If you shop around for a good rate, you're going to pull your credit 7 or 8 times.
Third, we NEVER recommend putting a bunch of money down on a lease. If you buy down the payments now, then it comes time to buy it out you either have to come up with a large chunk of money again, or pay a much higher monthly payment. Only lease with TTL + First month's payment.
Fourthly, you can't get 72 and 60 month terms for buying and leasing respectively without really good credit. If the bank is asking for proof of income, proof of residence and 5k down, you're credit is likely lower than 650.
Finally, a lease payment on a base GSR is going to be like $450/m at 48 months, with TTL + First months payment, assuming the sale price was around 34k.
When Mitsu has a factory incentive, which they frequently do, its way cheaper.
Here is an example of a recent one.
For more information, contact a dealer near you »
2012 Lancer Evolution GSR Lease
Lease: $349 per month / 48 months / $3,698 due at lease signing.Includes required refundable security deposit. Excludes tax, license, title, registration, documentation fees, insurance and the like.
Contrary to what sales people think, new Evo buyers are not dumb high school kids with rich parents. We are generally educated adults.
Last edited by jdm sam; Apr 27, 2012 at 12:57 AM.
Apr 27, 2012, 01:07 AM
#36
There's a lot of things that are incorrect in this thread here.
First off, you have to finance through MMCA if you lease. You're "borrowing" their car.
Second, if you are buying a car always check with the dealer's lenders first, assuming they work with multiple lenders. Here's why: you take a loan from your credit union, what, maybe once every other year? We take loans from banks several times a day. 9 times out of 10 we're going to get a better rate than you can. On top of that, we pull your credit once and shop it around to 7 or 8 banks if we need it. If you shop around for a good rate, you're going to pull your credit 7 or 8 times.
Third, we NEVER recommend putting a bunch of money down on a lease. If you buy down the payments now, then it comes time to buy it out you either have to come up with a large chunk of money again, or pay a much higher monthly payment. Only lease with TTL + First month's payment.
Fourthly, you can't get 72 and 60 month terms for buying and leasing respectively without really good credit. If the bank is asking for proof of income, proof of residence and 5k down, you're credit is likely lower than 650.
Finally, a lease payment on a base GSR is going to be like $450/m at 48 months, with TTL + First months payment, assuming the sale price was around 34k.
First off, you have to finance through MMCA if you lease. You're "borrowing" their car.
Second, if you are buying a car always check with the dealer's lenders first, assuming they work with multiple lenders. Here's why: you take a loan from your credit union, what, maybe once every other year? We take loans from banks several times a day. 9 times out of 10 we're going to get a better rate than you can. On top of that, we pull your credit once and shop it around to 7 or 8 banks if we need it. If you shop around for a good rate, you're going to pull your credit 7 or 8 times.
Third, we NEVER recommend putting a bunch of money down on a lease. If you buy down the payments now, then it comes time to buy it out you either have to come up with a large chunk of money again, or pay a much higher monthly payment. Only lease with TTL + First month's payment.
Fourthly, you can't get 72 and 60 month terms for buying and leasing respectively without really good credit. If the bank is asking for proof of income, proof of residence and 5k down, you're credit is likely lower than 650.
Finally, a lease payment on a base GSR is going to be like $450/m at 48 months, with TTL + First months payment, assuming the sale price was around 34k.
Apr 27, 2012, 04:02 AM
#37
Evolved Member
Not sure if this is true. Perhaps it varies state to state. But back in early 2008 I purchased my Eclipse Spyder. My credit was terrible. I purchased the car at a 9.9% interest rate for 75 months. I had to verify income and residence as well. And I also put $0 down with that bad credit. The lender was CitiFinancial Auto (who I will never use again)
Apr 27, 2012, 04:26 AM
#38
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Good luck!
Apr 27, 2012, 05:22 AM
#39
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You arent doing anything by making them compete for it to a point. You might be able to get them down, but as it has been said many times on the forums here, the dealers have at least 1,000 under invoice to play with and some have more, so in reality, you can take them to that point, but you should in all reality be able to do that with out having them compete against each other.
Apr 27, 2012, 12:14 PM
#42
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Bottom line is that a lease is for people who have more money than they know what to do with. A person that pays a monthly fee knowing one day they will just get another brand new car and start the lease process over again. I can't see a single positive reason why you would lease if you plan to buy it later on.
-Brian
Apr 27, 2012, 12:23 PM
#44
$450 a month is a rip off, and you wonder why people call you guys stealerships.
When Mitsu has a factory incentive, which they frequently do, its way cheaper.
Here is an example of a recent one.
For more information, contact a dealer near you »
2012 Lancer Evolution GSR Lease
Lease: $349 per month / 48 months / $3,698 due at lease signing.Includes required refundable security deposit. Excludes tax, license, title, registration, documentation fees, insurance and the like.
Contrary to what sales people think, new Evo buyers are not dumb high school kids with rich parents. We are generally educated adults.
When Mitsu has a factory incentive, which they frequently do, its way cheaper.
Here is an example of a recent one.
For more information, contact a dealer near you »
2012 Lancer Evolution GSR Lease
Lease: $349 per month / 48 months / $3,698 due at lease signing.Includes required refundable security deposit. Excludes tax, license, title, registration, documentation fees, insurance and the like.
Contrary to what sales people think, new Evo buyers are not dumb high school kids with rich parents. We are generally educated adults.
I rolled most of that into my lease and put 2k out of pocket