What do you think of this deal? I was at a local dealer, and the best he would do is $1100 over invoice on a 6MT sedan. For a lease - Money factor of .00194 and a residual of .57, 39 month lease, no money down.

Also, we were discussing a trade on my car. KBB and Edmunds have similar numbers, which I am happy with, but he pulled out Galves, which was A LOT lower. What is more accurate?

Thanx!

 

Just looking at the $1100 over Invoice, it's not great, but it's not terrible... Where are you located, market can play a big role in pricing...?

That money factor gives about a 4.6% APR (MF times 2400 gives APR). Again, good, but could do better... Not sure how leasing works compared to buying with APRs, but I know Infiniti extended 3.9% through the end of March, and of course this is credit dependent (think you need an Experian score of 700+ to get tier 1).

As far as your trade in, I have little experience/knowledge, but always heard that if you can get KBB at a dealer, you're doing some thing right! Would your trade in be a down payment for the lease?

 

The current financing offer is 1.9% for 24 or 36 months, 2.9% for 48 or 60 months on '04 and '05 sedans, as well as for '04 coupes. I don't know what my current credit score is but I got 2.9% with no sweat about three weeks ago (but I've got about 18 years worth of excellent credit history in my favor, too, including buying and selling homes, etc.)

I agree about the price - $1,100 over isn't great bad but it's certainly not bad, either. It IS in the neighborhood of what a lot of others are paying, though.

 

Yes, you should be able to do better depending on where you live and what you're willing to do if your local dealer won't play fair . $500 to $ 800 over "tissue" is usually considered fair for both parties. As far as book on your car goes, Galves IS what dealers use to appraise cars. It is published weekly (not every couple of months) and is comprised of an average of what money that a same car 1) with proper mileage 2)in good running condition and 3) cosmetically sound with no bodywork brings, on average at all the Wholesale (non public)Auto Auctions in your geographic area. Edmunds, Kellys, etc. are fairly inaccurate being that they are NOT generated by current market conditions/trends and are a free service provided meant for the use of by the general public. Galves, on the other hand, has a very expensive subscription fee and is "spot on" because of the critical research neccessary to stay current. Dealers never keep all of their trades and utilize the auction to move undesirable stock. If a 2000 Pontiac Gran Prix in generally good condition is only generating ....say... $8,000 at the auction and Edmunds say it's worth $9,500 he, obviously, has to protect himself and go with Galves. You might be able to get KBB/Edmunds value for your car, but nothing/little will come off the selling price (robbing Peter to pay Paul). Selling your car privately is, obviously, the way to go. Keep in mind, too, that the online USED car pricing services are also very high on what they say you should PAY for a car as well. You've got, roughly, about a 9% mark-up on an average well equipted G, and as I said you should be able to negotiate a $500/$800 deal on an IN STOCK vehicle. An ordered car is a different situation because you're not doing anything to help cut down on his floor plan expenses. Good luck, get back and post how ya make out. JBX

 

I just got my 05 DG 6MT sedan last week for $300 over invoice. I think you can do better. My dealer told me that it really depends on the car configuration, and to be honest there shouldn't be that much demand for a 6MT sedan. My dealer is a high volume guy, and they were still charging MSRP for a 6MT coupe. Its about what the market will bear.

As for trade in, sell it yourself unless you are willing to take a bath on your trade. I sold my 01 M3 for $7.5K more to a private party over what the dealer offered me (ridiculous offer). As the saying goes, wholesale to wholesale, and retail to retail.

Good luck.

One more thing about the lease rates...IFS' money factor is hard to beat, and the same goes for residual values. I'm doing a 3yr/45Kmi for 0.00194 and 60% residual. You can compare that to the rates on LeaseCompare.com and you won't find anyone get close to that.