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.

 

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.

 

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.

 

you never want to lease a car longer than the warranty...ever.

 

$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.

 

i'm starting to think you're trying to BS us. half of the things you said here i was able to break. lol

 

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)

 

Make them compete for your business. When I bought my first X ('08), I saved thousands over there 'bottom dollar' by telling each other what deal they were giving and seeing if they could beat it. That one was sold under invoice as well.

Good luck!

 

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.

 

No, it's not.

 

If you signed the paperwork, you CANNOT redo the deal. Your signature is bound by law on the deal you signed.

Did you sign paperwork???

 

I'm not trying to be rude here, but it scares me that it took posts on the internet to open your eyes. You didn't do the math before hand?

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

 

Actually my Evo lease came out to total payments of 37k including payoff (or ~20k in lease payments and a 15k option to buy plus the 2k in down payment)

So I don't think I ended up too far in the hole.

 

That lease special came to a hair under 5k total down if you include all the stuff like tax, tag, reg, dealer fee etc.

I rolled most of that into my lease and put 2k out of pocket

 

And my lease deal (using the Mitsu lease special)

438 including tax/mo
2,000 total out of pocket
48 month lease

for a WW '12 GSR with the interior package (shift knob, pedals, e-brake handle) brand new with the plastic still on the seats.