Update: Just got back from the dealership. Here's how it went down. Arrived and the Finance guy was on lunch. at this point i'm keeping my distance from my cousin and his wife b/c i didn't want him knowing they had brought someone with them. 10 minutes pass and he finally shows up, my cousin and wife walk into his office and i non-chalantely (sp?) follow right in. finance guy looks up as he's rounding his desk and had that, "who the hell is this?" look. we make quick introductions and i tell him i'm just here to make sure they get their credit disability/life and warranty cancelled. he hands over the cancellation paperwork to my cousin to fill out, makes a copy and hands it to him. i looked it over to make sure it was filled out with the correct info. then, i asked him why my cousin wasn't given any paperwork (terms and coverage) with the $2600 Extended Warranty that was sold to him. he said it's supposed to arrive within 30 days in the mail and then i can cancel it, but he couldn't cancel the warranty right then and there. i don't know if that's true or not, but we're cancelling as soon as it comes in. then i tried to ask him something about the amount on the sales contract. he said he can't answer any of my questions, only can answer from my cousin who is the buyer. fine, so i looked at my cousin and mockingly said, "Ruben, ask him why is the sale price of the car $300 more on the contract than the listed MSRP?" (let me make it clear, my cousin and his wife know nothing about financing or all these car sales terminology so they take everything at face value)...something I just found out prior to leaving the house. he doesn't know, and takes a "look" at the contract on his pc. after a few seconds he answers, "that's for the anti-theft device (VIN etching, another waste of money). so i told my cousin to ask him why isn't that disclosed as an itemized item? my cousin not knowing what the hell all this means, starts flustering and can't get it out....lol. everyone in that room was uncomfortable but i didn't give a ****. he finally gave a bull**** answer about how he told them it will give 10-15% off their insurance (another lie) and they had signed a document saying so. i found the document after we left the dealership, except it was just a piece of paper proving the car is insured prior to driving off. the guy was a total stiff the whole time. he made no attempt at pleasantries and wanted us to get the hell out of there as quickly as possible. overall, once all the cancellations have gone through, they will have saved about $5000 in fees and interest. later during the drive home, my cousin said they didn't allow his friend to sit in during the financing b/c he wasn't buying the car (total BS again). although, i don't think it would have made a difference.
Dude no long time no see. Where ya been? Actually, thats not bull****. Carriers do give give discounts for anti-theft equipment.
true. but the guy was definitely lying about having a disclosed signed document for it. and it's hardly worth $300.
Good job Macalu you made out like a bandit. To bad you weren't with them in the beginning. Nobody should ever have to pay the sticker price for a car you can go straight to the fleet manager tell him what you want, ask for the invoice price on the car which is usually about $3k less than the msrp and he'll more than likely sell it to you for that price.
I've leased a couple cars over the years. I don't want to invest in a depreciating asset, and I like a new car every three years. And so what if the dealer makes a little money? Isn't that the point of running a business? I'm paying for the use of a new car, albeit the depreciating part. I think if you are a driver who does not put sick miles on a vehicle, then a lease might not be a bad option, pending the rates/terms, of course.
From what i have heard from friends who have leased cars is that it is a great idea if you like having a new car. I am planning on leasing a new car soon and after researching rates it seems like a good idea. It looks like I will end up paying $14,000 for 3 years and 36,000 miles for a brand new 2008 Nissan Altima with tons of features like gps and etc. The car's MSRP is $29,500 Anyone have any advice?
You can get a used 2007 or 2008 Altima for $17,000-$20,000 and have it for much longer than 3 years. The only way i can see leasing being a good idea is if you absolutely must switch out cars every few years. Why not buy the car for $20,000 and sell it for $4,000 or more 6 years from now? Cars will last a while if you take care of them (especially a nissan) you could even give it to a relative if you don't like it anymore.
