smartbuy/smartlease

[IronMedic]

hey guys, im looking into one of these options, can u guys give me your opinions on them? i am considering leasing for 2 years and just pick up another one later. i am in the military and get deployed alot. i have gone through 5 different cars in 2 years..half new and half used. i cant find the one i want. i feel that the search could be over LOL!
i like the options of the smartbuy. the amount of money i end up making on my military trips, i can pay the balloon payment in full at the end of 2 years (smartbuy). hell, i would save to do it!

is anyone leasing their H3? if so, what would a reasonable payment be for one? i got screwed on my last lease because the dealer didnt sit down and talk to me about it. in the end, i over payed big time. i am going to take the lease info they give me and plug it into my Lease Kit and it will break down bit by bit what is wrong with the lease...if anything. I studied leasing for over a year and i have a much better understanding what to do.

[IronMedic]

hey guys, im looking into one of these options, can u guys give me your opinions on them? i am considering leasing for 2 years and just pick up another one later. i am in the military and get deployed alot. i have gone through 5 different cars in 2 years..half new and half used. i cant find the one i want. i feel that the search could be over LOL!
i like the options of the smartbuy. the amount of money i end up making on my military trips, i can pay the balloon payment in full at the end of 2 years (smartbuy). hell, i would save to do it!

is anyone leasing their H3? if so, what would a reasonable payment be for one? i got screwed on my last lease because the dealer didnt sit down and talk to me about it. in the end, i over payed big time. i am going to take the lease info they give me and plug it into my Lease Kit and it will break down bit by bit what is wrong with the lease...if anything. I studied leasing for over a year and i have a much better understanding what to do.

[aggiehummer...er]

I'd go with the Smartbuy, from a salesman's perspective. The vehicle is titled in your name, you get tax savings if you decide to trade it in, there are no early termination penalties, the list could go on.

[H3wannabe]

I went with a lease. 3 pieces of advice:

1. Don't put any money down (1st payment and serucriry deposit only). A good reason for this was explained to me this way. "When you rent an apartment do you pay extra months in advance?" Of course not. Point being keep YOUR money in YOUR account not the dealer's.

2. Understand the "money factor." This basically is the finance charge that is being applied to the leased amount (yes, you do pay interest on leases).

3. Understand the residual. This is the amount that is left to pay off the vehicle after your lease. The higher the residual the lower your monthly payment and conversely the higher the buy-out on the backend. The price you pay for your vehicle minus the residual = the amount you lease + the money factor.

Leases are pretty simple, but most people don't take the time to understand them. DON'T focus on the monthly payment. Focus on the amounts listed above which your monthly is derived from. If you need to lower your monthly, remove options (lower your vehicle price) and recalculate.

I feel as though I got a pretty good deal:

Retail: $34,695 (lux, auto, tow)
With Supplier Discount: $31954.64
+ $45 emissions (NH)
+ $27 title fee

36 months
12,000 miles

Residual: 64% (nice!!!)
Money factor : 8.75% (not so nice!)

I gave them $1K down to place my order. They are giving me $508 back (so I am only giving them the 1st month's payment).

Monthly payment: $492 with no security deposit and no money down other than 1st months payment.

H3wannabe

[IronMedic]

ok this is what my game plan is. i talked to the dealership and they want to work with me big time. the cool part is that they are not pushing me to buy. they told me to come in at the end of the month and see what we can do money wise. if we cannot come up with a good plan, i will come back the end of the next month and so on. i told them my goal is to purchase on my birthday in december and they totally understand and will help me. this is a great dealership. here is my situation:

i have a 2005 WRX i bought back in February. i only have 2400 miles on it to this day (military deployments). i go through cars like candy. this would be my 5th purchase of a vehicle in 2 years. everytime i have done it, i paid off the negative (or at least 90% of it) except when i got screwed in my last lease. i am not gonna go into terms on my last lease but i could have leased a hummer for cheaper. i leased a mazda RX8. i had 10k negative equity so i paid 5k off prior to my deployment. i rolled the other 5k into my WRX. it brought my car payments down about $50 right off the bat. i bought my WRX because i thought my wife was interested in having a child so i wanted something with 4 doors (and a turbo for me!). well we are divorced and its time to move on. since i go through cars like candy, im gonna do a lease (2 year). i have learned alot since my lease mistake and i gonna play it right. i have a lease kit that i bought online that will work. i plug in all the detailed information and it tells me if it is a good lease or not. if u want to, H3Wannabe, u can PM me your details and i will plug it in to tell u what it says (just for fun). right now, my negative equity is sitting between 10-13k. by december, i will have about 90% of that ready to be paid in full. the dealership i am dealing with is willing to give me double the military rebate ($1000) and who knows...there could be more incentives by that time. they are also gonna work with me on the price of the truck i want by that time (but they all say that LOL!). i am gonna do my homework over the next few months to get things how i want. my salesman is great and he understands my goal and isnt pushing me or giving me bad advice. this should be a great experience.