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985 Posts
JC,
Leases can be very simply, or very complicated, and often the buyer simply can not make sense of it (as mentioned in your post) therefor hard to know if you are actually getting a good deal or not.
Your numbers seem very high /month +tax.
Taxing on lease also varies between states.
Some states tax your actual monthly payment, other states like mine (Texas) taxing the full and entire value of the vehicle upfront - before federal credits-and rolling it into the lease or monthly payment. They wanted to take full MSRP (minus some dealer discount), add 6.25% tax, then start working the lease numbers.
When I was on the market for a new Volt, GM's advertisement of $268/month with $2500 down drew me in, but after getting actual quotes form 3 different dealers, my monthly payment would have been over $500 (more like $550/month) and that is the standard 36mo- 12Kmiles/year lease.
It was very hard to know where the rebates went (not to me), where did the discounts go and even my trade- in (positive cash) seemed to have disappeared in the lease numbers.
Some here on this forum got $2xx /month lease with $0 down, I think I have seen one that was even lower than $200. I do not remember the exact details.
During my quest to get a good lease, sitting down with salesman, often it was difficult for them to answers some of my $$ questions. The salesman him self had to run back and forth for answers to the lease managers. Even then answers were cloudy.
I got fully discouraged of even attempting to lease in Texas.
I hope others here will have a better answer, I just wanted to share mine.
In Texas - rebate goes to the leasing company- the leasee does not see a penny form it.
Leases can be very simply, or very complicated, and often the buyer simply can not make sense of it (as mentioned in your post) therefor hard to know if you are actually getting a good deal or not.
Your numbers seem very high /month +tax.
Taxing on lease also varies between states.
Some states tax your actual monthly payment, other states like mine (Texas) taxing the full and entire value of the vehicle upfront - before federal credits-and rolling it into the lease or monthly payment. They wanted to take full MSRP (minus some dealer discount), add 6.25% tax, then start working the lease numbers.
When I was on the market for a new Volt, GM's advertisement of $268/month with $2500 down drew me in, but after getting actual quotes form 3 different dealers, my monthly payment would have been over $500 (more like $550/month) and that is the standard 36mo- 12Kmiles/year lease.
It was very hard to know where the rebates went (not to me), where did the discounts go and even my trade- in (positive cash) seemed to have disappeared in the lease numbers.
Some here on this forum got $2xx /month lease with $0 down, I think I have seen one that was even lower than $200. I do not remember the exact details.
During my quest to get a good lease, sitting down with salesman, often it was difficult for them to answers some of my $$ questions. The salesman him self had to run back and forth for answers to the lease managers. Even then answers were cloudy.
I got fully discouraged of even attempting to lease in Texas.
I hope others here will have a better answer, I just wanted to share mine.
In Texas - rebate goes to the leasing company- the leasee does not see a penny form it.
