I leased a new car today!
I promised to update the quest for a new car, and here it is. I think I made a good deal. Time will tell.
I had decided to look at other makes and models besides the VW GTI. I even looked at a 2011 VW CC. I liked it among the best of the cars I drove. It was close to my 2007 Passat in size, and features. I liked it a lot, except I couldn't wrap myself around the price. The best deal I could get on it was $359 per month plus tax on a 3-year lease. That would put it really close to $390/mo. It gets great mileage, too, but calls for premium fuel, adding 20ยข per gallon to the mix (just like my Passat). That same dealer offered me a 4-door GTI with auto trans (the awesome DSG) for around $349 per month. GTIs are in short supply, and are really popular.
I decided to look at several other options: The V6 Nissan Altima, the new Chevy Cruze, the Nissan Juke, and the Hyundai Sonata/Kia Optima Turbo models. I didn't look at the Subaru WRX, as it is stick-shift only, and the gas mileage is not so ay-ay-ay.
I decided to drive each turbo model and see how they performed. I went to a Nissan dealer and looked at the Juke. It just didn't fit my other needs for room, etc., so I just passed on it. I looked at the Altima, but the trunk opening looked a bit tight to get my work equipment into, even with a fair sized trunk. Also, the Passat I had was the champ at putting my equipment through the hole from the trunk to the passenger compartment, with the seat folded down. Everything else with the exception of the CC has a tighter orifice in the rear seat bulkhead. Makes it tough to put in the 6-ft ladder.
Anyway, I got a quote on the V6 Altima of $300 plus tax, no down payment. I then went and drove the Hyundai Turbo Sonata at an out-of-town dealership. It had more advertised horsepower than any of the other cars (274-hp) and the best mileage (33mpg hwy on regular fuel). While it felt strong, it was wet out and the roads crowded, so I didn't know if I was that impressed. The dealer only had the one turbo, and told me I couldn't order a car from Hyundai. I didn't want that one as it had a sunroof and my wife's head sticks into the opening. I usually look for cars with no sunroof. I hardly used the only one I ever had (and I lived in So Cal), she doesn't quite fit, and I hate paying extra for something I don't want or need. Also, I live in Washington State, where the only requirement to be a weather predictor is to say rain or chance of rain. It even rains here when it is not supposed to.
I told the dealer to call me if he gets a turbo in without a sunroof. I then went and looked at the Hyundai's sibling, the Kia Optima. The dealer didn't have many, and the turbos aren't available yet. The Kia Optima is one sharp car. And if I wasn't so bent on a turbo, it would have been on the short list of winners.
I went and drove a turbo Chevy Cruze. A nice, well-built little car. The turbo in this car was unimpressive. The salesman pretty much indicated the lease deals would not be that impressive, either.
I was pretty much on board with getting the GTI, being one of the most impressive vehicles, along with that German car feel. I had called all over and called the local dealer for Hyundai and told them if they got any turbos in, to give me a call. I got a call a few nights ago, and they said they got in 3 Sonata Turbos, and one of them had no sunroof! I went over to the dealer that night. Unfortunately, the car had just been unloaded from the truck, and as a result, hadn't been safety-checked and we weren't allowed to drive it. My wife was a little put out as she went with me to test-drive it, and we weren't told that till we got there. I called my buddy and asked if he would like to go with me for a test-drive the next day. He said yes, and he is a dyed-in-the-wool GTI fan.
They had prepped the car and washed it, etc. The salesman handed us the key and asked that we not try out the airbag operation and asked us not to put more than 20 miles on the car. We took it to the freeway. It is undoubtedly the fastest car I have driven in a long time, at least since I got rid of my 2005 Altima V6. It is a screamer. It handles quite well, with taut suspension and 18-inch tires. It rides solid, though with quite a bit of tire noise, something I had noted during the times I had driven the GTI. But the Hyundai Sonata SE Turbo is quite a car. I determined I would lease it if I can get a real deal. Even my buddy was impressed.
I went back today to talk turkey. My wife came along and drove it. They gave me a quote of $367/mo including tax on a 3-year lease. This car has a generous warranty, with 5-year coverage on almost everything. I would have taken a 4-year lease, but it is not offered. I told them that was out of my range. They wanted to know what I wanted to pay. They usually play quite a game with you. They want you to bond with the car so you'll jump at the chance to drive it away, at any price. They also want you to invest time so you'll be more amenable. I turn the tables on them. I make 'em come back a few more times with quotes. Finally, I told them I would take the car if I could have it for $300 + tax/mo. The sales manager comes back with something like $308 + tax. I said no. He almost threw a conniption. He crushed the paper in his hands, and asked me to reconsider. I sat there mulling it over. Now, my leased Passat plays into this. They have already determined they want it. It has only 21,000 miles on it, and it is immaculate. This actually gives me equity in a leased car. Because I got such a low price on it when I leased it, it has a plus value for me. He came back and said to me that he would see if he could squeeze another couple of hundred dollars out of the Passat. A little while later, he came back and told me that I had a deal. $299 + tax, and I had to make the first month's payment now. I said yes. I took my stuff out of the Passat, and transferred it to my new Hyundai, and I drove it home tonight.
I had saved something like $41/month by not taking the first quote they offered. I saved $492 per year, and $1,476 over the lease term. That is the fruit of negotiation. Being willing to walk away if you don't get what you reasonably want.
To sum it up: If you have good credit, paid a low price on your previous ride, take good care of it, and keep the mileage low, you, too, can get a hell of a deal. I just got a very rare car, and got it at a run-of-the-mill price. It is a great-looking car with mag wheels, and a top of the model car at that. And, I leased it cheap enough to make it easier again next time. I hope you can get a good deal, too.
I had decided to look at other makes and models besides the VW GTI. I even looked at a 2011 VW CC. I liked it among the best of the cars I drove. It was close to my 2007 Passat in size, and features. I liked it a lot, except I couldn't wrap myself around the price. The best deal I could get on it was $359 per month plus tax on a 3-year lease. That would put it really close to $390/mo. It gets great mileage, too, but calls for premium fuel, adding 20ยข per gallon to the mix (just like my Passat). That same dealer offered me a 4-door GTI with auto trans (the awesome DSG) for around $349 per month. GTIs are in short supply, and are really popular.
I decided to look at several other options: The V6 Nissan Altima, the new Chevy Cruze, the Nissan Juke, and the Hyundai Sonata/Kia Optima Turbo models. I didn't look at the Subaru WRX, as it is stick-shift only, and the gas mileage is not so ay-ay-ay.
I decided to drive each turbo model and see how they performed. I went to a Nissan dealer and looked at the Juke. It just didn't fit my other needs for room, etc., so I just passed on it. I looked at the Altima, but the trunk opening looked a bit tight to get my work equipment into, even with a fair sized trunk. Also, the Passat I had was the champ at putting my equipment through the hole from the trunk to the passenger compartment, with the seat folded down. Everything else with the exception of the CC has a tighter orifice in the rear seat bulkhead. Makes it tough to put in the 6-ft ladder.
Anyway, I got a quote on the V6 Altima of $300 plus tax, no down payment. I then went and drove the Hyundai Turbo Sonata at an out-of-town dealership. It had more advertised horsepower than any of the other cars (274-hp) and the best mileage (33mpg hwy on regular fuel). While it felt strong, it was wet out and the roads crowded, so I didn't know if I was that impressed. The dealer only had the one turbo, and told me I couldn't order a car from Hyundai. I didn't want that one as it had a sunroof and my wife's head sticks into the opening. I usually look for cars with no sunroof. I hardly used the only one I ever had (and I lived in So Cal), she doesn't quite fit, and I hate paying extra for something I don't want or need. Also, I live in Washington State, where the only requirement to be a weather predictor is to say rain or chance of rain. It even rains here when it is not supposed to.
I told the dealer to call me if he gets a turbo in without a sunroof. I then went and looked at the Hyundai's sibling, the Kia Optima. The dealer didn't have many, and the turbos aren't available yet. The Kia Optima is one sharp car. And if I wasn't so bent on a turbo, it would have been on the short list of winners.
I went and drove a turbo Chevy Cruze. A nice, well-built little car. The turbo in this car was unimpressive. The salesman pretty much indicated the lease deals would not be that impressive, either.
I was pretty much on board with getting the GTI, being one of the most impressive vehicles, along with that German car feel. I had called all over and called the local dealer for Hyundai and told them if they got any turbos in, to give me a call. I got a call a few nights ago, and they said they got in 3 Sonata Turbos, and one of them had no sunroof! I went over to the dealer that night. Unfortunately, the car had just been unloaded from the truck, and as a result, hadn't been safety-checked and we weren't allowed to drive it. My wife was a little put out as she went with me to test-drive it, and we weren't told that till we got there. I called my buddy and asked if he would like to go with me for a test-drive the next day. He said yes, and he is a dyed-in-the-wool GTI fan.
They had prepped the car and washed it, etc. The salesman handed us the key and asked that we not try out the airbag operation and asked us not to put more than 20 miles on the car. We took it to the freeway. It is undoubtedly the fastest car I have driven in a long time, at least since I got rid of my 2005 Altima V6. It is a screamer. It handles quite well, with taut suspension and 18-inch tires. It rides solid, though with quite a bit of tire noise, something I had noted during the times I had driven the GTI. But the Hyundai Sonata SE Turbo is quite a car. I determined I would lease it if I can get a real deal. Even my buddy was impressed.
I went back today to talk turkey. My wife came along and drove it. They gave me a quote of $367/mo including tax on a 3-year lease. This car has a generous warranty, with 5-year coverage on almost everything. I would have taken a 4-year lease, but it is not offered. I told them that was out of my range. They wanted to know what I wanted to pay. They usually play quite a game with you. They want you to bond with the car so you'll jump at the chance to drive it away, at any price. They also want you to invest time so you'll be more amenable. I turn the tables on them. I make 'em come back a few more times with quotes. Finally, I told them I would take the car if I could have it for $300 + tax/mo. The sales manager comes back with something like $308 + tax. I said no. He almost threw a conniption. He crushed the paper in his hands, and asked me to reconsider. I sat there mulling it over. Now, my leased Passat plays into this. They have already determined they want it. It has only 21,000 miles on it, and it is immaculate. This actually gives me equity in a leased car. Because I got such a low price on it when I leased it, it has a plus value for me. He came back and said to me that he would see if he could squeeze another couple of hundred dollars out of the Passat. A little while later, he came back and told me that I had a deal. $299 + tax, and I had to make the first month's payment now. I said yes. I took my stuff out of the Passat, and transferred it to my new Hyundai, and I drove it home tonight.
I had saved something like $41/month by not taking the first quote they offered. I saved $492 per year, and $1,476 over the lease term. That is the fruit of negotiation. Being willing to walk away if you don't get what you reasonably want.
To sum it up: If you have good credit, paid a low price on your previous ride, take good care of it, and keep the mileage low, you, too, can get a hell of a deal. I just got a very rare car, and got it at a run-of-the-mill price. It is a great-looking car with mag wheels, and a top of the model car at that. And, I leased it cheap enough to make it easier again next time. I hope you can get a good deal, too.
Labels: car lease leasing deal dealer
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