Well, fingers crossed, I'll be officially an HHR owner tomorrow!

I was called on Friday and told the I could pick up my new 2008 2LT on Monday. That is a month earlier than they estimated, so already they are in my good books! :)

I just hope that I can get the lease finance that I want, otherwise I'll end up walking away from the deal which will annoy the hell out me. Anybody got any advice about negotiation if it doesn't go well!? My starting point will be the trade, as they are giving me $1500 for my Saturn, and they'll put in on the lot at $3000 at the very least. So, they are already making their $1500 back on the markdown from MSRP, as it will sell easily. They were also quoting me approx 9% for the finance, which I thought was pretty high for a lease?

 

My advice would be to buy, not lease. But I'm sure you've got good reasons to do the lease thing. We were able to get 1.9% on one and 0% on the other for 72 months with GMAC, so our payments are low. Might wanna check it out if you've got good enough credit.

Good luck in the negotiations!

 

Did you special order the HHR? I would've thought the financing and all that other stuff would have been taken care of beforehand.

 

What Black Rose said.

 

I did special order it, and whilst they gave me a rough idea of what it was, they couldn't give me an exact quote, as it depended on dealer incentives at the time of pick-up (which was 2 months out originally).

I did my homework on leaseguide.com, so I know what to expect, but they gave me a figure way more than I could calculate myself.

I will see what the rates are to buy as a comparison, as then I can mod it!! But I really wanted to lease rather than buy. There were a few reasons as discussed in a previous thread.

 

You asked. Don't get hung up and all twisted over what the dealer is making, who cares and also you will drive yourself nuts, all you care about is how much you are paying. Keep it simple.

 

I'm sure things will work out OK, and I'm really not worried about what they make on me, but if things don't go as planned, I wanted to have a bit of leverage to try and talk them round. I'm sure they don't want a special order car sat on their lot if I don't buy it. I put $400 down, so I wasn't tied to any contract at the time.

BUT, I hope that I can walk in tomorrow, sign the papers and drive away a happy man.

 

You are already fodder for them because you are emotionally involved and attached to the vehicle. Yes 9% is very very high for a new car. ESPECIALLY for a lease.

IF you pay $19500 CAP Cost for the car total plus Fees I included NO OPTIONS but the 2LT package.
You get $1500 for your car
Figuring a 6% tax rate and a 42% residual on a 3 year lease
Assuming a $1000 rebate


you are looking at $377 a month PLUS another $8500 to buy it out.

You are better off leasing a BMW for that or Honda Accord for less.

NEVER lease a car with high depreciation.
Never pay 9% interest on ANY new car lease or otherwise.

The Dealership always wins when you are looking at a "must have"

I like the HHR but no way is it worth nearly $400 a month to "rent" or even own for that matter when you look at the rest of the market.

I hate to say this but I think they are going to rake you over the coals.

ALWAYS BE READY TO LEAVE THE DEALERSHIP. You really don't have to buy. They HAVE TO SELL. But Don't fool yourself either. They could care less about having a nice white 2LT on their lot at the beginning of a model year..

 

Thanks for the frankness Kingfrog! Tell it like it is!

Trust me, I WILL walk away if the deal isn't a good one for me, as much as I like the car. The sales person knows I wont take any crap from them, as I've already called them on a few things, and told them from the outset of the original quote I won't buy it if it remains that high. I still let them order it though. I am no mug when it comes to finance, have done a lot of lease research, and am NOT an impulse buyer. I certainly don't look at what else is available on the market, as I want an HHR, but I'm not desperate enough to take anything they throw at me. My credit is around 700, so I shouldn't need to beg!

 

Good for you man. Yeah I am frank. Some like it, some don't.

You can always find a second hand one with low miles for the same payment as a lease and OWN it after three years. These cars are excellent values used since they depreciate $4k in the first year, Only $1.3K in the second and third. Yeah I am a used car proponent because every car I see with the exception of those in the showroom are used. MOst of them are not on the side of the road waiting for AAA either LOL.

I am curious though. How close were my numbers? Was I way off base?

With a 700 plus FICO you are golden.Take your time.