[valdanta68]

OK, here is my situation. I'm downsizing from my ($300/month) 2008 Honda CRV to something smaller and more fuel efficient, and I really need to lower my monthly payments. I've settled on the EX Sedan with premium leather package. They gave me $16K for my trade-in, but I owe $9K on it. So that is $7K difference. They are leasing me the EX for $99/month for 36 months. They must be using the part of the $7k for that and the rest is profit for them.

Is this still a good deal? Maybe I should buy it, but with the lease I can get rid of the car if it's a lemon. Plus, it's only 99/month!

 

[valdanta68]

Good points, but I really don't want to keep paying $200-$300 a month right now. The lease makes financial sense for me right now.

I think I'm taking the deal. I may just lease another vehicle at the end of the lease.

 

[valdanta68]

Looks like I really should see how much it is to BUY the car. As long as it comes in under $300, I should take the deal?

 

[valdanta68]

I can't afford $300/month anymore. With this deal, I will be saving $200 a month + better MPG.

What if I can get them down to $75/month?

 

[valdanta68]

Thanks guys! Will definitely purchase my Kia! Plus I think my CRV is actually worth more, so I should get a reasonable offer. I hope to be under $200. I'll keep you posted.

 

[valdanta68]

Good thing I listened to you guys! I have two dealers duking it out for my business. My CRV is worth more than I thought. Oh, I switched to a SX with leather trim!!!! So far, I got them down to $158 for 60months.

 

[valdanta68]

Done deal!! 158/month! SX fully loaded with leather!

Thanks everyone for the help.