Lease... did i get screwed?

$300 a month

 

What are you paying now?

 

Well, not such a good deal. I have everything you listed plus the solar/sunroof package and 15k miles/yr for $369 incl. tax. I got gap from Farmer's Ins.

Better do your homework next time. I don't think you have any option but to stick it out - unless there was fraud or something extraordinary.

 

Your lease deal is not that bad. Don't lose any sleep.

It's just money.

 

What is the residual?

 

They don't call it a f'lease for nothin'.

 

I leased a IV, no nav. Nothing down, 325 a month/36 months. 12K a year. The ONLY reason I leased was because my company can write it off. We bought my wifes.

 

Did other dealership say you have any options? I"m guessing not.

It seems in fact your lease deal is not that bad based on what you got. The residual on priuses seems to get worse as you get more useless crap in them.

Case in point my Prius II had a final purchase price of about $22,500. Residual at 12k/year $16,900 (18k/year is $15,050). With "no money down", just taxes, destination charge, DMV, first month, and all that for a total outlay of $1750 I had just 35 more payments of $179/month.

In the end though I went with an 18k lease and I pay $241/month ($10/month some weird dealership lease coverage which I actually convinced myself to buy) with just the $1750 total out of pocket.

It's quite easy if you fall prey to the desire for leather and nav and what not to pay over $100/month for just those while leasing.

We are piling miles on this like gangbusters and I'll probably buy it out at the end.

 

Anyone buying or leasing a new car every three years is getting screwed. 101% of people that lease a car get a new one when the lease runs out.

 

In previous years I've seen some amazing leasing deals on pre-owned/used cars and a few good lease options on brand new cars (BMWs and such, not the Prius). But this year things are a different story. Unless you can write-off 100% of your leased car (or at least 80% of it), I think it's just looking better to buy the new Prius straight out (since the deals are pretty amazing on the 2010 Gen III Prius). Personally I'm against spending anything extra to lease gadgets and leather seats, but maybe that's just me...

 

A local Lexus Dealership has an ad in today's paper for a $389.00 per month lease on an HS250h... Not sure of all the terms though...

 

This is the first new car I've "bought" and I leased it because the lease rates were very attractive. Also here where sales tax is 8% I had to pay that only on the depreciation, not the full purchase price, so that's no small amount of money. I was also unsure as to whether I'd be able to "put up" with a Prius for more than three years. Essentially I am paying a very small premium per month to have a stress-free choice at the three year mark and decide then whether I will keep it or not. Likely the only way I'd lease another car at that point is if there is some big jump in tech (e.g. I got a Nissan Leaf) or Toyota was again the victim of the availability heuristic and had to offer ridiculous rates. Otherwise, it's very unlikely.

If that 2012 50%-bigger Prius on the front page is ok and not outrageous that could be attractive, too--assuming it has a third row and is similar in size to a Mazda 5.

 

Here's how that crap works...when you see lease prices low, like for the HS 250h, or the currently heavily incentivized BMW 3 series, there are two things. One, the car is not equipped well and two, there is a HUGE amount due at signing (never put money down on a lease and never pay the entire term up front). There's only one way to drive a German car folks...fully loaded. My $55k 335i is more than $389/mo. If there is nothing due at lease signing you're going to be getting a low-equipped car. Why anyone would get a German car not loaded is beyond me.

Cars are sunk costs, period...always have and always will be. Enjoy.

 

This is part of why I don't lease or like comparing based on payments. One shouldn't buy based on payments either.

Because they're rather expensive already to start with or in some cases, buying more equipment means more to possibly fail? It could also be out of one's price range or affordability. Some people buy cars just for the nameplate. Different people value different things. Some people might think paying 4 digit price tags to get factory nav is worth it (even now, w/cheap PNDs) whereas others don't.

IMHO, 55K for a BMW 3-series is nuts. I wouldn't never want to spend that much on a compact car.

I could turn around the question and ask if one is buying a German car, why not go high end like a 7-series or Mercedes S class?

 

There is no finer sport GT coupe on the market for $50k than a well equipped 335i. Mine is even a little bit better, LOL!

To your points:

I'm an enthusiast driver; drove the 5 series...very nice, but no soul. The 7 series is just too big. The 650i is awesome, but for that money I'm in an M3. If you truly enjoy driving, you will not get a MB...not even the legendary AMGs. BMW, Porsche, and even Audi, are just so much more rewarding to drive. Always have been.

Of course you are correct in that people value things differently. And I also agree that some choose cars solely based on nameplate. That's sad. If you can't afford to to it right then don't do it at all. I scoff at your assertion that people don't buy options because they are worried more will break.

And lastly, I agree with your PND point. Just last night I traveled with some neighbors to a party out of town and was AMAZED at how incredible their new widescreen Garmin Nuvi was. It's definitely better than my BMW iDrive and the crappy nav in my Prius. It actually rivals the HDD nav in my wife's 2010 MDX. IMHO, Audi has the best nav out there.

Although I have yet to see it in person, the new nav Ford/Lincoln is putting out looks amazing (from the commercials/youtube).

I just derailed this conversation; I'll try to stop.

 

without getting too personal.

Is your credit score 720 + ?

If not your money factor might be the issue.

Over the phone quotes from Dealer B is using A++ credit or 720++

 

You just answered your own query. You paid $55k for a 3 series and it's not even an M3, which MSRPs right at $55k.

Almost. An M3 for a few k more Or for $8k more than you paid you get into a CTS-V, the fastest sedan on the planet.

 

That is why it is a horrible deal to get a new one every 3 years. A lease makes people do this. Everyone that leases turns their car in at the end for a new one. It is like tossing money in the trash can.