Wednesday, August 17, 2011

Is this a fair car lease, or am I being taken?

I am supposed to pick up the car tomorrow, but I'll reneg if enough people say that I should: $430/mos for 36 months for a 2007 Nissan Altima with $1600 down. Has leather interior, sun roof. I am trading in a 2000 Toyota Corolla (payout $5300.00) that has 94600 miles, needs rear brakes, an oxygen sensor (the check-engine light is on because of this), 4 tires. Both the body & interior are fair (no major dents). My credit is fair-good. I am leary because Nissan originally included the entertainment package (Sirius and Bose sound system) for this amount. After they saw that I have a bigger income than I originally let on, they said that it would cost $480/mos. to have the entertainment package because they forgot to factor in the trade-in. Should I take $430/mos w/out entertainment package? Is this strictly because of my admittedly horrible previous dealings ($5300 on old corolla) or am I being taken as well? If this lease deal is bad, what amounts would be reasonable?

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