Might buy this on sunday...
Might buy this on sunday...
Stopped by my local dealer (2 within a 10 mile radius with about 10 to choose from) and they had this 2013 WW MR. Its got all options minus navigation (I really do want nav too) but the ones that do have it are black and blue and red.
White is my color of choice this go round, but my question is would you survive without the touch screen nav? I have the top of the line garmin that is thin with the glass screen so its the size of an iphone 5. I just feel like that big dash is missing something...
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Under invoice, putting 7 grand down on a lease for $201.00 a month 24 months 15,000 miles. Will also toss in a set of blizzacks they claim.
Thoughts?
White is my color of choice this go round, but my question is would you survive without the touch screen nav? I have the top of the line garmin that is thin with the glass screen so its the size of an iphone 5. I just feel like that big dash is missing something...
[/url]Under invoice, putting 7 grand down on a lease for $201.00 a month 24 months 15,000 miles. Will also toss in a set of blizzacks they claim.
Thoughts?
On out right owning
On leasing
I am trading in my BMW. the positive equity that I have with it will just be placed on the loan to pay down the residual Or I can have them cut me a check for the difference. If I chose to keep the car, then I have put 7 grand down already, and when I finance the rest, then I can put a few more down to level out the payments.
Yeah, as mentioned above, ask them to install the Navi. It's an easy two hour install for the dealer. It's probably going to add anywhere between $1800-2200 to your deal.
Can you show the rest of the numbers in your deal? Sales price, residual value, money factor, acquisition fee, title & registration fees, tax (or your zip code).
May I ask, why are you putting down $7K on a lease? It's usually a bad move to put anything down on a lease because if you were to (heaven forbid) get in an accident and total the car, there is a chance you could lose your down payment because Mitsubishi has full ownership of the car - you're just renting it from them. Do a Google search and read some of the articles out there and you'll see what I'm saying. Here's one: http://www.carsdirect.com/auto-loans...n-when-i-lease
I would rather see you keep the $7K and use it to pre-pay a bunch of payments. Sure, your monthly payments would be significantly higher than the $201 they quoted you, but that $7K could pay probably 15-20 payments depending on what your final payment amount is.
Can you show the rest of the numbers in your deal? Sales price, residual value, money factor, acquisition fee, title & registration fees, tax (or your zip code).
May I ask, why are you putting down $7K on a lease? It's usually a bad move to put anything down on a lease because if you were to (heaven forbid) get in an accident and total the car, there is a chance you could lose your down payment because Mitsubishi has full ownership of the car - you're just renting it from them. Do a Google search and read some of the articles out there and you'll see what I'm saying. Here's one: http://www.carsdirect.com/auto-loans...n-when-i-lease
I would rather see you keep the $7K and use it to pre-pay a bunch of payments. Sure, your monthly payments would be significantly higher than the $201 they quoted you, but that $7K could pay probably 15-20 payments depending on what your final payment amount is.
Last edited by atombomb33; Mar 23, 2013 at 06:47 AM.
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Evolving Member
Joined: Mar 2013
Posts: 133
Likes: 0
From: PA
Agree why put 7 k down on something you own but don't own??
If you be patient an shop around you can find USED evos with low miles for decent price....I bought my 2011 evo gsr for 32k with ONLY 800 miles on it yea its a base model but who care's i don't need that SSS crap when I'm gonna change around the whole body kit an already changed my factory headlights to projectors
If you be patient an shop around you can find USED evos with low miles for decent price....I bought my 2011 evo gsr for 32k with ONLY 800 miles on it yea its a base model but who care's i don't need that SSS crap when I'm gonna change around the whole body kit an already changed my factory headlights to projectors
Yeah, as mentioned above, ask them to install the Navi. It's an easy two hour install for the dealer. It's probably going to add anywhere between $1800-2200 to your deal.
Can you show the rest of the numbers in your deal? Sales price, residual value, money factor, acquisition fee, title & registration fees, tax (or your zip code).
May I ask, why are you putting down $7K on a lease? It's usually a bad move to put anything down on a lease because if you were to (heaven forbid) get in an accident and total the car, there is a chance you could lose your down payment because Mitsubishi has full ownership of the car - you're just renting it from them. Do a Google search and read some of the articles out there and you'll see what I'm saying. Here's one: http://www.carsdirect.com/auto-loans...n-when-i-lease
I would rather see you keep the $7K and use it to pre-pay a bunch of payments. Sure, your monthly payments would be significantly higher than the $201 they quoted you, but that $7K could pay probably 15-20 payments depending on what your final payment amount is.
Can you show the rest of the numbers in your deal? Sales price, residual value, money factor, acquisition fee, title & registration fees, tax (or your zip code).
May I ask, why are you putting down $7K on a lease? It's usually a bad move to put anything down on a lease because if you were to (heaven forbid) get in an accident and total the car, there is a chance you could lose your down payment because Mitsubishi has full ownership of the car - you're just renting it from them. Do a Google search and read some of the articles out there and you'll see what I'm saying. Here's one: http://www.carsdirect.com/auto-loans...n-when-i-lease
I would rather see you keep the $7K and use it to pre-pay a bunch of payments. Sure, your monthly payments would be significantly higher than the $201 they quoted you, but that $7K could pay probably 15-20 payments depending on what your final payment amount is.
Yep, here are the worked numbers..
I generally dont lease cars, but my 3 series has about 90,000 miles now and its not going to last forever. I have a 2 month old baby that I know is possibly just as safe in an X (over my old 9) or even my 3 series.
[/url]Sorry it was $211. I typed 201.
Newbie
Joined: Aug 2009
Posts: 74
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From: Vancouver BC
Lease only makes sense if it is due to tax implications from owning a business, travelling for business etc.
As with everyone else on here - don't lease unless there is a specific reason behind it.
BUT all of that said - I'd look for a used MR with little to no mods if you're trying to keep costs down. Pricing here in Canada is waaaaaay different than the US, but I wouldn't buy a new Evo again. My first MR was $54,999 + 12% tax + 5% luxury tax. The MR I'm driving right now only had 53,000 km on it when I bought it, a slew of bolt ons with a super conservative tune, great body, interior almost 100% mint for $28,600 with $2,000 worth of brand new snow tires mounted.
Even though your interest rate will be higher on a used purchase, the overall purchase is safer and way more in your favour.
If you are going to write the lease off as an expense and use it to generate income/pay yourself mileage etc. then lease it.
As with everyone else on here - don't lease unless there is a specific reason behind it.
BUT all of that said - I'd look for a used MR with little to no mods if you're trying to keep costs down. Pricing here in Canada is waaaaaay different than the US, but I wouldn't buy a new Evo again. My first MR was $54,999 + 12% tax + 5% luxury tax. The MR I'm driving right now only had 53,000 km on it when I bought it, a slew of bolt ons with a super conservative tune, great body, interior almost 100% mint for $28,600 with $2,000 worth of brand new snow tires mounted.
Even though your interest rate will be higher on a used purchase, the overall purchase is safer and way more in your favour.
If you are going to write the lease off as an expense and use it to generate income/pay yourself mileage etc. then lease it.
I'm not against leasing. If a lease makes better sense for someone, by all means choose that option vs. financing.
My only thing is don't roll that $7K of positive equity from your trade into that deal. Ask them to cut you a check. Based on the numbers in your deal sheet, it looks like taking away that $6688 of positive equity, would boost your lease payment to $506/month.
I would rather see you have the dealer cut you a check for that $6688, then use it to prepay 13 monthly lease payments. Think of it as basically not having to make a car payment for 1 full year of a 2 year lease. IMHO that would be great!!! Plus, it would protect you from potentially losing that full $6688 in the case of a total loss of the car.
My only thing is don't roll that $7K of positive equity from your trade into that deal. Ask them to cut you a check. Based on the numbers in your deal sheet, it looks like taking away that $6688 of positive equity, would boost your lease payment to $506/month.
I would rather see you have the dealer cut you a check for that $6688, then use it to prepay 13 monthly lease payments. Think of it as basically not having to make a car payment for 1 full year of a 2 year lease. IMHO that would be great!!! Plus, it would protect you from potentially losing that full $6688 in the case of a total loss of the car.
Bought this for my wife
2013 Explorer limited.
[/url]That being said, I want something fun and with more space than my mustang had. Plus with the added expenses of having a kid, it was the right idea financially to get rid of something I can only drive a few months out of the year.
I'm not against leasing. If a lease makes better sense for someone, by all means choose that option vs. financing.
My only thing is don't roll that $7K of positive equity from your trade into that deal. Ask them to cut you a check. Based on the numbers in your deal sheet, it looks like taking away that $6688 of positive equity, would boost your lease payment to $506/month.
I would rather see you have the dealer cut you a check for that $6688, then use it to prepay 13 monthly lease payments. Think of it as basically not having to make a car payment for 1 full year of a 2 year lease. IMHO that would be great!!! Plus, it would protect you from potentially losing that full $6688 in the case of a total loss of the car.
My only thing is don't roll that $7K of positive equity from your trade into that deal. Ask them to cut you a check. Based on the numbers in your deal sheet, it looks like taking away that $6688 of positive equity, would boost your lease payment to $506/month.
I would rather see you have the dealer cut you a check for that $6688, then use it to prepay 13 monthly lease payments. Think of it as basically not having to make a car payment for 1 full year of a 2 year lease. IMHO that would be great!!! Plus, it would protect you from potentially losing that full $6688 in the case of a total loss of the car.