I just got this question about how bad credit affects the way we lease a new car:
Marcus, let me start by saying “GOD SENT YOU FROM CAR DEALING HEAVEN” and I regret dearly not coming across your site before.
I just leased a VW ATLAS and was simply disgusted by the mambo-jumbo tactics and utterly steal I was subject to. As I was hitting my head on the keyboard regarding down payments. However, I still have hope.
I am debating between 2017 Mazda 3 (Sport) vs 2017 Hyundai Elantra GT. Hyundai is making me thirsty for some of these amazing manufacturer incentives which can seriously bring the MSRP down.
My biggest concern is that the rent charge will skyrocket due to credit score. However, under Hyundai website, I was given the mini version of EQUIFAX (BLACKBOOK) and credit score was a lot higher (630 Capital vs 680 EQ black book).
This got me thinking that I wouldn’t be able to get a great deal as I had hoped to. Am I wrong to assume this? I have considered that these car dealers may “approve” my lease by Dec 28 but later calling and ask to take the lease back the first week of January (Read your tutorial on this maneuver as well?)
Thanks for the hat tip. I appreciate the kudos on my KTL Leasing System…
And I would not beat yourself up on seeing this blog earlier. The car industry (and their compromised “journalists”) ignore this blog (for obvious reasons).
Yes. The car industry knows the average shopper no longer visits 5 locations like our parents use to.
These days, we have been tricked into “researching” from home and visiting just one dealership. And this is EXACTLY why car sellers treat us with no respect. They have the car we want. They know we are too lazy to shop around. And this is how they hustle us for thousands extra. Evil genius, eh?
Continue reading “Question: What credit score is needed to lease a new car?”
I just got this question about what happens when you return a leased car for a new leased car using the same leasing company:
I was hoping to get some useful advice regarding a lease return.
I’m currently in the 3rd year of my 3 year lease through Chrysler Capital. I have 6 payments remaining (about $2000). I’m located in Southern Ca.
I’m looking to upgrade into a 2018 of the same make and model. The lease quote I received is:
SALE PRICE: 38,450
LEASE REBATES: -3,250
ADJUSTED SALE PRICE: 35,200
36 MONTHS; 12K MILES PER YEAR; TOTAL OUT OF POCKET: 1,000
MONTHLY PAYMENT: 450.13 PLUS TAX = 492.89/MONTH
I haven’t yet informed the dealer about my lease return. What’s the best way to ask the dealer for a buyout without being taken advantage of?
What about my current tags, they don’t expire until June 2018, why can’t I keep my tags and save on registration fees?
Any help you can provide would be appreciated.
Continue reading “Question: How should I handle my lease return and get a new lease?”
Bottom line bmw- is it possible to get 0 downpayment?
When is the best time to get the beat deal on a lease? End of year? Certain time of month?
I am always careful when asked these types of questions…
Because the good ‘ol US government does not allow us to make “claims.” We cannot make guarantees of outcomes. Heck, we technically cannot even offer a money-back guarantee… because it implies a claim.
Continue reading “Question: when is the best time of the year to lease a car?”
These days, it is harder than ever to choose a new car.
Many cars look identical and have mostly the same features.
But the truth is each car is different than others in subtle, but important ways.
A lot of people who lease new cars have buyers remorse…
Because once they start driving their new rides, they are shocked by how different the car is compared to the 40-minute test drive.
That is why I drew up this blog post. This is what I think about every time I go to lease a new car:
Continue reading “How to choose the right car”
Is it possible to lease a car and have a $0.00 (zero dollar) monthly payment if I make a significant down payment? I am trying to lease a car and pay no more than $100.00 a month for 36 months, what kind of down payment should I offer them?
We have been lied to by the car industry so many times – and this includes the idea that we need to put money down on a new car lease.
Continue reading “Question: should I put more money down to lower my lease payment?”