Guy I need your opinion on a 370z lease!!!
 

When I got my base model Z I put 1250 down and I pay $518 per month the sticker price was $30k. Nissan just offered me a sport package Z Sticker price $37k for 1000 down 460 per month. They'll take my car 4 months early.

I had my heart set on an FRS I even have a deposit down. I wanted lower my monthly payments. Wtf do I do?

Please help me.

Nissan has 0% intrest incentive now. Why would you want to lease?

There's 0% going on right now, say you bought it for $37K OTD and put $1,000 down your payment would be $600 per month. I'd try to get under $400 for sure on a lease. The FRS might not lease well since there it's a new model and things like residual value are unknown. They may give it a strong value, but I think you're going to be surprised one way or the other. In the end it all comes down to what you want, price is price, if you don't love it then it doesn't matter. If you put a deposit on the FRS it sounds like you want a change.

^-- what these guys said

I do want a change, but I loved my Z I enjoyed driving it so much for the last 3 years. I was surprised they negotiated down to what I could afford. As much as I want the FRS, a sport package Z at 460 per month has me enticed.

I just wanted to know what you guys thought. Buying for me is not an option right now. Should I just go pick the car up tomorrow. Or be patient and get the FRS for what would be a cheaper monthly payment.

I'm so uncertain of what to do.

Nissan will take my car 4 months early I avoid the registration fee. I get a new 2012 sport package Z. Fuuuuuuuuuuuuuuuuk

How much less would the FRS payment be? Remember with a purchase at 0% every payment you make reduces your payoff by that much, you won't be locked in a lease and you should have equity fairly fast. If you want a new car in 3 years you'll probably walk away with a fair bit of equity versus none with a lease. I'm all for leases except when there's this kind of deal going on.

I would imagine the FRS payment would be $380 per month.

I think you know what to do

Being that this is a Z forum, and I am a FIRM Z lover im gonna have to say stick with the Z!

Listen to your heart.

Personally I hate leases, you spend thousands ((36-4)*518+1250=$17,826 for you so far) of dollars and don't own anything. The only advantage of a lease its less hassle to get a new car every few years.

IMO I would go with 0% financing or buy out your current lease.

i agree, 0% is the way to go.

stop messing around and do it like you mean it. buy a used car under $15K and drive it for minimum 8years.

Ask them to take your car 4 months early and get the hell out of your lease. The stealership wants it now to resale. Spring is here and you have a low mile car to put on the lot.

Buy one at zero percent and get the heck out of the lease. Leasing was good when the used car market was soft. Back then a dealership didn't want the car back and you could get a good buy out price. Now they know the used market is good so they want the cars NOW. :ugh2:

Do you have a down payment or a half way decent owned trade to bring to the table. If not your lease bound and personally I think wasting your dollars. Sorry if I come across brutally straight forward. Sounds like your extending your finances for the new Z ride. Maybe time to think and regroup.

your lease pmts are a lot higher than my pmt straight up buying the car. buy buy buy!

plus, if u buy the car and then get a lil money saved up, u can refinance for an even lower pmt instead of paying to re-up a lease. thats what i did. i only ut $1500 down then waited a few months and dropped a large lump sum on the car and refinanced it. lowered my pmts almost $100 a month

just my :twocents:

I will never lease a car!

got my last car as a lease, then ended up buying it when the lease was up. never again.

yep, that's one expensive way to buy a car.

But at least if you couldn't afford to buy it new to begin with and didn't want a used car, you know exactly how the car was treated during the lease.

true...

wow $37K ? WOW
base model with sport package i paid $30K (BRAND NEW) i took all the plastics myself with 0.0 miles on it. plus I'm paying $390 a month. was supposed to be cheaper but i messed up my credit a few months back.

A lease is great if you want a new car ever few years, dont plan on modding, always want a warranty and dont expect to put a ridiculous amount of miles on the vehicle. If one or more of these dont apply wait to purchase.

you got totally r*ped on your lease... i pick my new 2012 up this weekend. Touring 6spd with nav and that stuff and my lease is only 375 a month for nissans 39 month program. That was my second dealer going to, the first one had the same options and was still only at $390 a month. Im putting a little more down, at 2500 but that only covers my taxes and bank/dmv fees and first payment. You can totally get the car leased for under 400, just stand strong.

I'm always amazed at people who only look at monthly payment, and not overall cost.

$32K sport Z, $1k down, 7% tax, lease for 36 mo = $400 / month and you turn the car back in, maybe with lease end fees. So you're out net $15k.

$32K sport Z, $1k down, 7% tax, 0% loan for 60 mo = $550/month and you own a Z worth resale $27 based on current '07 resale prices. So you're out a net $7k.

If you can't afford the monthly payments on a 36 mo loan, you should consider a less expensive ride. If you can't afford the monthly payments on a 60 mo loan, you're living beyond your means. Why pay lease payments that are almost the same as loan payments, and you end up with no car at the end?

If it helps I can let you know what I just negotiated on my lease..
I just leased a 2012 Z touring with sport package sticker was around 42k
negotiated the price of the car to around 39.5k.
Then we began to work on lease prices and it turned out to be
39 months
2500 down
419/month
first month was included in the down payment and ttl was separate.
Im expecting to have kids in the next few years and dont have a garage or else I would have considered financing the car, but I am going to need more room and a bigger ride in 3 years:)
needless to say I love the car so far.
Hope this helps you figure out more about your negotiations. I would have financed if I knew I would have time to actually use the car after having a newborn:P

you can still mod the leased car, just keep the stock parts and put it back to stock before you return. in fact, people like me that buys cars put it back to stock to net higher selling price. and just sell the bits separately. :)


yah, this is why i hate leases. almost $19K down the drain...such a big waste of money imo but hey, glad it worked out for you. :)

Inwardly don't care what I'm spending at the end of it (to certain extent) my happiness is a priority to me. As long as I'm happy I'm good really

i use to be like that... until i got wiser with my money. :icon17:

True.

See this makes no sense to me. After 39 months, you're gonna spend:
38 * $419 + $2500 = $18422 Total expenditure

If you had bought, here's where you'd be after 39 months (assuming 7% sales tax, 5% APR finance on 7yr loan, same down payment):
$39500 * 1.07 = 42265 Out the door price
42265 - 2500 = 39765 Financed amount
39765 * 1.03 = 41753 Loan total
41753 / (7*12) = 497 monthly payment
497 * 39 + 2500 = 21883 Total you spent after 39 months
19870 Remainder of unpaid loan
30000 Resale value of 3yr old car (based on quick survey of current '09s on Autotrader)
30000-19870 = 10130 Profit from sale of your car after 39 months
21883 - 10130 = $11753 Total expenditure

So after 39 months, you'd have spent 2/3s what your lease cost you. And your monthly payment would be roughly the same (497 vs 419).

The difference becomes more pronounced as you get further out. Assuming you'll move from your leased Z to another leased vehicle of similar value, here's how it breaks down.
5 years
Leased total cost: $419 * 60 +2500 = 27640 (even more if you down pay your next lease)
Purchased total cost: $32k paid - ($28k resale - $9k loan balance) = 13720

7 years
Leased total cost: $419 * 60 +2500 = 37696 (even more if you down pay your next lease)
Purchased total cost: $42k paid - $26k resale = 16000

your math is off up there man... 41k over 7 years (72 months) is $597 not $497... and no where in your equation are you adding in the 5% apr. its over 600 month to finance a car out right thats anywhere near 40k

This statement is so TRUEEEEE! The written truth in a nut shell! Actually if you can't afford the monthly payments on a 48 mo loan, your living beyond your means. Anything over 48 months should be off the table of reason(s) to buy. :ugh2:

7 yrs is 84 months, so I'm correct at $497.

And I'm only a little off on APR. I used 3% APR in the math even though I said 5% APR. I did the math at 3% cause that's APR for normal 36 mo loans, then realized that the longer term loans (7yrs) have higher 5% APR, but forgot to update the calcs. The difference is only $800, so my error doesn't affect the numbers appreciably.

yup, my bad on the months lol you are correct... does anyone do 7 year terms, ive never seen or heeard of that before from anyone. just 5 and 6 months (which is why i was thinking 72 months)

No problem jofro. Not sure about other banks, but I know my bank offers 7 yr loans. Not sure why anyone would want to pay for that long, but its there.

Take advantage of 0% financing. This never happens for a Z. Will be your best bet.

On a positive note, when you actually lease your payments will be lower & you can always get a new car every 3-4 years. On the downside you will always have a payment & you can never actually mod the car. Well you could mod the car, but you will just be blowing money by having to sell the mod parts a couple of years later.

I would have to say buy the Nissan considering that they are still offering the 0% interest until 4/30/12. The car is yours and you can put whatever mod parts you want on day one. Unfortunately when you buy the car your payments will be higher, but you actually own the car.

^^^^ Whuuut?