April 23, 2011
Is this a good deal? Trading in an Altima for a 2011 Sentra lease?
Kate asked:
I bought a 2002 Nissan Altima 8 months ago for $8750. Since then, the check engine light has come on 4 times. This last time it came up as the catalytic converter needing replacement, which was quoted to me at $2000. The dealership gave me the option of trading it in to do a college graduate lease-to-own of a 2011 Nissan Sentra SR. The deal would be $150/month for 39 months, 15,000 miles per year, with a $2500 check back to me. Is this a good deal or should I shop around elsewhere? Thanks!
The $150/month includes all taxes, fees, etc.
I bought a 2002 Nissan Altima 8 months ago for $8750. Since then, the check engine light has come on 4 times. This last time it came up as the catalytic converter needing replacement, which was quoted to me at $2000. The dealership gave me the option of trading it in to do a college graduate lease-to-own of a 2011 Nissan Sentra SR. The deal would be $150/month for 39 months, 15,000 miles per year, with a $2500 check back to me. Is this a good deal or should I shop around elsewhere? Thanks!
The $150/month includes all taxes, fees, etc.
Filed under Buying & Selling by Administrator
Comments on Is this a good deal? Trading in an Altima for a 2011 Sentra lease? »
What’s the balloon payment on the purchase option? Lease to own makes no sense in this case they would just finance it…classifying it as lease to own means they’re dropping the payments lower for the big check at the end. I wouldn’t do it unless the balloon payment was close to what you’re getting back in that check (2500).
There’s something profoundly phishy about this “deal”.
Find a good independent mechanic and see if it can still be fixed. Stealerships charge way too high.