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Actor Dennis Singletary starred in a national commercial touting Honda's "Really Big Thing" sales promotion program. In fact, Singletary was so swayed by the offer of cheap financing, he went to a Honda dealer to take advantage of it. But when a dealer denied him participation in the very program he promoted he got kinda pissed. More »
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Lexus will lease, not sell, the $375,000 LFA supercar. But after seeing details of how the lease works it sounds like a pain in the ass. $12,400 monthly payments? One low $298,000 payment? That's just the start. More »
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Autoweek is reporting Toyota will lease, not sell the Lexus LFA. Not really. You'll still be able to walk into a dealer with 3,750 unmarked $100 bills and walk out with one of 500 Toyota supercars. More »
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Open a saving account with Spanish bank Banesto and they’ll give you a brand new, all-expenses-paid car. To qualify for a vehicle, a customer needs to lock between $26,400 and $235,000 into an account for at least 24 months, with the type of vehicle offered depending on how much one invests. For $235,000 and 36 months, you receive a Citroen C4 diesel, $175,000 a Citroen C3 and $145,000 a C2. Of course, there’s a catch. More »
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The Wall Street Journal reports this morning the super number one awesome best automaker from the land of the rising sun said it will set aside major reserves for its first quarter to cover losses from vehicle leases in the U.S. And with that, Toyota now follows Chrysler, GM and Ford into the land of plummeting used car values. More »
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Automotive News reports GM sales chief Mark LaNeve sent a letter to dealers outlining the company's plans to adjust its leasing strategy. GM's letter follows a move last week on leases by Chrysler. While the company won't be going down the same route, having their captive finance entity ditch leasing altogether, they're expected to tweak the terms on certain vehicles to make leases more expensive, in an effort to make buying more attractive. In LaNeve's words, "current financial pressures will continue to affect our perspective on leasing." But how will it affect consumers' perspectives on leasing? More »
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Representative Michael R. McNulty pays $816 for a 2007 Mercury Mariner Hybrid, which he chose for its utility. Representative Redolphus Towns pays $715 a month for his Lincoln MKX, he bought it to save money on fuel. Representative Louise M. Slaughter needed a car that handled safely in the snow, so she picked a Buick Lucerne, for which the US Taxpayer pays $808 a month. All have chosen to take advantage of the benefit on offer to any member of the US House of Representatives: any car of their choice leased for them with no price limit and all expenses, including gas, paid for. More »
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A good buddy of ours always leases. While I've never seen his bank statement, I know what he does for a living (think Hollywood) and I know he could afford to buy. But he doesn't. His reasoning? He likes cars so much that via leasing, he can get a brand new car every two years. To him, it's like a cell phone plan. In our minds however, we love the idea owning the car. True, our credit rating is so jacked we'll never own anything bigger, but if we wanted to we could mod the hell out of our car. Or, drive 25,000 miles in a year without fear of financial reprisal. Still, in less than six months our car will be two-years old, with three more years left to pay. And that new STI is looking mighty sweet. Your thoughts? More »
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There's a lot to figure when you're planning a 60-month lease of an $14,000 car: up-front capitalization, estimated resale value when the lease is up and buy-out price. Now, add two zeros. According to Automobile, that's what's in store if you want to lease the Bugatti Veyron from Putnam Leasing: a $400,000 down payment and $23,595 per month. Of course, then there's a limit of 2,500 miles per year. Add it up, and you're nearly a half-mil in the hole compared with buying it outright. In other news, Ben Franklin's corpse just exploded. More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=201011&view=rss&microfeed=true Volkswagen hopes that, if it can't sell its Passats and Jettas outright, it'll at least be able to loan them out to people for a couple of years. Following a 21.4 percent year-on-year drop in VW brand sales this past October, the company is offering new, subsidized lease deals with the intent to stimulate a pickup in sales. According to AutoWeek it's a change in attitude from "profits first" to move some freaking product, now. The 39-month deals — through January 3 — are no-money-down offers with monthly payments set at $249 for the Jetta and $299 for the Passat. More »
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A German court has released a 37-year-old man from his lease contract, after ruling his breakdown-prone Mercedes-Benz S-320 CDI should have been able to support the man's considerable bulk. The man, a hefty, 352-lb. insurance salesman, said, in addition to a broken seat, the car had to be returned to the dealership 12 times for various problems encountered during its first 12,000 miles. Mercedes had at first refused to allow the man to break his lease, claiming the malfunctions were unrelated to his prodigious bulk, but the court went on to find for the massively oversized individual, and against the bloated, unwieldy, quality-challenged carmaker. [Update: Props rightly go to eMercedesBenz, a new Merc blog whose tip we carelessly overlooked.] More »
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