Anyone know the residual on a loaded cabriolet?

[SharonRB]

I should be getting my smart in April and have been trying to figure out what my lease payment might be. Without knowing the residual after 36 and/or 48 months, I have no way to figure it out.

Is anyone who has received delivery on their car leasing? The cost of my car as equipped will be $18,055.

Thanks for any help you might be able to give me.

[smart cynce]

To my knowledge, smart does not offer leasing on the smarts. Might want to double check with your dealer.

[Smartdavis]

Originally Posted by smart cynce

To my knowledge, smart does not offer leasing on the smarts. Might want to double check with your dealer.

Just out of curiosity why don't you offer leasing as an option?

[SmartyPants25]

Originally Posted by Smartdavis

Just out of curiosity why don't you offer leasing as an option?

I was told it was because the car is too new, needs to be on the market for at least a year to see how well it does.

[smartcenterSeattle]

Originally Posted by SmartyPants25

I was told it was because the car is too new, needs to be on the market for at least a year to see how well it does.

Resale is not the only reason. I have seen a balloon program and the payment structure offers no benefit to the customer at this point. The payments are roughly the same on a 36 mo lease as they would be on 60 mo finance with rates the way they are. Typically, if the 24 mo lease payment is close to 60 mo financing, it makes sense; if the 36 mo lease payment is close to the 72 mo finance, it makes sense. Others will tell you that leasing never makes sense. As a person that has leased quite a bit in the past, I hope they work it out.

[SharonRB]

So what kind of payments are people making? I just did a calc on Edmunds and it came out to a $600 a month payment to buy the smart with a 36-month loan and almost $500 for a 48-month loan. That's insane! I'm paying $456 a month now for a four-year lease on a Lexus 330. I really can't afford to put much down, if anything. I always lease to keep my payments down. I really thought I'd be saving a ton with the smart, but if I can't lease it, I may not be able to afford it at all. Bummer! I may have to check out a Mini Cooper instead, which I really don't want to do, as the dealership is not convenient for me.

[smartyPantz]

I am paying cash.
I think that if you cannot afford to pay cash, and you cannot afford to finance it, then you cannot afford to buy it.
Leasing is nicknamed "fleece-ing" for a reason. It is a bad deal.

[Smartdavis]

With good credit you ought to be able to buy one somewhere around mid $300's a month for 60 months with very little down payment if my calculator is working properly.

[SharonRB]

Originally Posted by smartyPantz

I am paying cash.
I think that if you cannot afford to pay cash, and you cannot afford to finance it, then you cannot afford to buy it.
Leasing is nicknamed "fleece-ing" for a reason. It is a bad deal.

I've been leasing cars since the early 80s and it's always worked out well for me. Without knowing my financial situation, you really can't judge what I can and cannot afford.

[SharonRB]

Originally Posted by Smartdavis

With good credit you ought to be able to buy one somewhere around mid $300's a month for 60 months with very little down payment if my calculator is working properly.

You're close. I have excellent credit and I came up with $387 for 60 months at Edmunds.com with a purchase price of $18,055. I really didn't want to buy, though, and I really don't want to be stuck for five years. If I knew for sure I'd be able to sell it in three and get enough for it to pay off the rest of my loan with a little left over, I wouldn't worry about it. Not knowing how easy they'll be to sell then, though, I'm a little hesitant to take the chance. I don't want to get stuck with it when I'm ready to get something else.

My goal was to drive the smart for three years and then get an electric or fuel-cell car like the Chevy Volt or something, depending on what's available by then.