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Old 01-26-2011, 09:22 PM
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HELP! First Post: Leasing a Laredo X package...Is this a good lease deal????

I was hoping to get some feedback from anyone whose been through the leasing process. I've attempted the research on my own but this shenanigans is just beyond me. I'm close to understanding it but I'm tired of thinking about it so I was hoping if someone was able to scroll over the numbers and quickly be able to tell if its legit. I feel like I'm being jacked just because I experienced the stereotypical....sitting in front of a salesman while he goes back and forth into an office to talk for 4 minutes and comes back to bring you magic numbers. That being said I keep getting back to the same conclusion which is I think it's a decent deal.


I'm negotiating a deal to lease a 2011 Laredo X for 36 months which is the leather and then also added the navigation package. That's it. The negotiated price was $31,390. Supposedly the invoice price is $33424. That is $2034 under invoice if that is the case. MSRP is $35,390 and the dealer is giving a $4000 discount. That is how I got to $31,390.

I have to put $1128 down which in that includes my first monthly payment which is $442 plus tax & whatever other fees and taxes there are which equals $1128. Then I got thirty five monthly payments of $442 plus tax which comes out to $467 a month or $16,812 for the 36 month term(that number includes the 7% tax)

I would like to get it to $400 plus tax a month which would mean I would need to get the dealer to knock off $1512. Is that crazy to think I can do that? I'm supposedly getting 1.33% APR on the financing end.

Anyone got some insight for me here that's been through this already. I just wanna know if I'm getting jacked here or not. I feel like I'm not but thats the first number the salesman gave me. IT doesn't seem all that bad but I feel like I'd atleast have to be able to knock off another $20-$40 a month.

Any input is appreciated. THis is the first time I'm leasing a vehicle so PLEASE help me. Thanks
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Old 01-26-2011, 09:33 PM
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Re: HELP! First Post: Leasing a Laredo X package...Is this a good lease deal????

What's the name of the dealership, city and state too please.
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Old 01-26-2011, 09:40 PM
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Re: HELP! First Post: Leasing a Laredo X package...Is this a good lease deal????

Haa! I think I understand what your saying. Are you saying what I think your saying?
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Old 01-26-2011, 09:43 PM
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Re: HELP! First Post: Leasing a Laredo X package...Is this a good lease deal????

Would be good to know the residual and the money factor as well. 12K miles per year?
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Old 01-26-2011, 09:49 PM
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Re: HELP! First Post: Leasing a Laredo X package...Is this a good lease deal????

Quote:
Originally Posted by pumpumdr View Post
Haa! I think I understand what your saying. Are you saying what I think your saying?
No, it was an honest question, I was going to look at the dealer website and make sur ethe actual MSRP is 35390, not after some crazy dealer add ons.

But assuming thats the right MSRP, lets go with that. As pbm said, it would help to know the residual value.

Aslo, is that 12k or 15k miles per year?
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Old 01-26-2011, 09:53 PM
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Re: HELP! First Post: Leasing a Laredo X package...Is this a good lease deal????

they claim and say theyre using 50%. A website tells me 47%. 12k miles. I asked for money factor number being used they answered 1.33% APR. Which I calculated to be 0.00056. I got these numbers through email.
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Old 01-26-2011, 09:53 PM
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Re: HELP! First Post: Leasing a Laredo X package...Is this a good lease deal????

MSRP is definitely correct.
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Old 01-26-2011, 09:55 PM
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Re: HELP! First Post: Leasing a Laredo X package...Is this a good lease deal????

Those numbers are not too bad actually. I would settle for 425 per month, 12k miles per year with 1500 down and have them waive the taxes.
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Old 01-26-2011, 10:04 PM
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Re: HELP! First Post: Leasing a Laredo X package...Is this a good lease deal????

RidewithG.com has a great calcualtor, with a grading system that will tell you if it's a good deal.

It doesnt look like they're ripping your head off, but you're not getting a killer deal either. Have you checked the websites of other dealers around to see if they have a vehicle with teh options/color you want? If so, I'd call them and name my price per month to see if they bite, and play the two against each other. It doesnt take much on a lease to reduce the payment by $20-$40 a month.
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Old 01-26-2011, 10:09 PM
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Re: HELP! First Post: Leasing a Laredo X package...Is this a good lease deal????

I apologize if I get this wrong but are you saying knock it down $17 less a month from $442 to $425 then change my $1128 down to $1500 and tell them to waive taxes...Thats what I got from that but let me know what you mean if not. thanks
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Old 01-26-2011, 10:14 PM
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Re: HELP! First Post: Leasing a Laredo X package...Is this a good lease deal????

I don't even think this dealership has the specific car I'm looking for. I'm pretty sure they have to get it shipped from SC. I feel like the $20-40 a month is all I need to try and negotiate. The rest seems pretty straight forward.

I am trading in a vehicle that they're giving me $10,000 and I owe $9820 on it. So thats a wash and I am completely content 100% with getting what I am getting for it. Please let me know if theres something Im not seeing about this element if this is another factor
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Old 01-26-2011, 10:28 PM
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Re: HELP! First Post: Leasing a Laredo X package...Is this a good lease deal????

I am not up to date on lease but you never mention if this is 4x4 or 4x2 - I guess price would depend on that too.
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