YACT: Am I Getting a Worthwhile Deal? -- updated

[Thegonagle]

Then don't do it. Yet.

There are frequent manufacturer subsidized lease specials. Wait for one. Or just buy the damn car and sell it in three years. You shouldn?t be upside-down, since convertibles retain value better than their hard toped brethren.

 

[Muadib]

Originally posted by: Spooner

No. Not at all.

Payments alone add up to $13284. Then factor in that you'll have nearly $3000 in additional costs, and you don't even keep the car? No way, no thanks. Leases can be advantageous...this one is not.

Then figure in that you are getting a dud of an engine...not cool.

My opinion - look for a nice, year or two old one and then finance it.

Well... I don't want the car at the end, so that's not a big deal for me.

this is based on an MSRP of 24k i believe.
Plus, it's a convertible!!!!!!!!!!!!!!!!!! i want this damn car, bad

just checked Autotrader and the invoice on the car I'm getting is $24,028.

It looks like they're selling it to me for a like $24,500 with the stereo upgrade that usually costs $1k

Seems like the best deal i could be getting

It's not though, not by a long shot. This is what I see wrong with your deal:

1) $24,500 with the stereo upgrade that usually costs $1k
Sure, the price sounds good, but there are other things you are overlooking. Do you know the other factors in this deal? What is your residual? How about your depreciation rate? Not to mention the money factor, what is it? Can you answer any of this?

2) They want $2,000 down plus registration and all that crap, which is probably another $800
Sure they want it, but why do you want to give it to them? I leased my current car, and the only fees I paid was my last payment which comes back to you when you turn the car in, and $50 for the registration. Anything else is just their way of taking more money out of your pocket.

3)Plus, it's a convertible!!!!!!!!!!!!!!!!!! i want this damn car, bad
And they know it, as this deal shows. Find out the whole deal before you make up your mind.