lease question

[ness5575]

i keep seeing all these gmac lease deals in the paper - for example: my gf and i looked at an equinox for her. the gmac lease deal was $0 down and $319/month. is this the price to lease this vechicle (meaning this is the price, take it or leave it), or is that the price based on paying sticker price for the vechicle, and i should offer something lower? how are these things negotiated?

seems like they can manipulate the numbers and way they want and use fuzzy math all day and you never know what it is based on...

[facn8me]

Usually there is a down payment around $2k and term length is 36 months. so that equals up to around $14,000 minimum to rent that vehicle for 3 yrs. Plus if you go over your preset milage allowance you pay a small sum per mile. A friend did this and drove 86,000 miles in 3 yrs. When she turned it in she had 2 choices. buy the car for 12k or pay $8600 in mileag cost. My opinion is NEVER lease unless you have money to burn and never do maintance. I guess you have to ask if it's worth it to you to pay $14k and be walking in 3 yrs with nothing to show for it.

 

Edit: didn't catch that 0 down. so it comes out to 12k

[Machine]

Those deals are set prices based off a number the dealer sets. If you want to lease a vehicle - negotiate the cost of the vehicle as if you were buying and then bring up the lease option. Chances are that you'll get a better deal.

[ASIB54]

'Machine' is correct, bring up the lease AFTER negotiating price. Your monthly payment is based upon the depreciation of the vehicle you are to purchase, which is why shorter terms have higher monthly payments. In fact, the most important thing in getting a good lease is negotiating a good purchase price. Be very wary of hidden charges, though...make sure of what it is you are paying.