Did I get a good deal??

[RobBrown]

I just signed an offer for a 2005 Nissan Maxima, 5 Seat, SE with auto.

It's a lease for 48 months costing $500 per month + tax.

The salesperson came back too quick and there really wansn't much negoiation.

Did I get a good deal or did I get hosed.

I hate buying cars.

[crazytou]

Thats a heavy payment a month...umm i would have tried to get the payment lower

[EK 2.0]

but it's already signed...

what conditions did you allow yourself to back out if you had to??...

[RobBrown]

It's conditional on the credit application which I haven't completed yet.

[dericer]

No matter what BS the dealer may feed you.

you have rights:

1) after 10 days of signing the sales agreement you can back out with no penalty for any reason.

2) a full refund of your deposit must be returned to you with in 15 days of cancelling said agreement

3) NO sales agreement is technically valid if signed by the purchasor (you) at the place of business of the sellor. (has to do with the purchasor feeling pressured at time of signing)

4) ALL sales agreements must contain a clause describing the cancellation terms (item 1) to be legal in the province of Alberta.

I had a dealer threaten to sue me if I backed out of a deal and I didn't even sign a sales agreement let alone wait for the 10 day period to expire lol.

If you feel this wasn't a deal you wanted after all DO NOT buy the car. Or use these tactics to get a better deal atleast.


Just my .02 and good luck finding a new car. :thumbsup:


Sources:

Alberta Fair Trading Act: http://www3.gov.ab.ca/gs/information/publications/acts_regs/fair_trading_act.cfm


General Rights enquiries
http://www.qp.gov.ab.ca/index.cfm

[RobBrown]

Dericer, you rock. Thanks for telling me all that!

While I'm really not too nervous about backing out of the signed agreement, I really appreciate the time you took to tell me that I have options.

I don't really feel ripped off or anything, I am maybe just getting a bit of cold feet.

I can afford the payments and I want a Maxima, but it's more about me feeling like I got a deal :)

Have any other opinions about my deal?

[dericer]

Not to get too personal, but this deal would depend on your financing to say whether it were a good deal or not.

If you could get a percentage of prime +2 (6.5 right now) or better then yeah 23k sounds pretty good.

But if you're paying more then I would consider negotiating alittle more.

If this is a factory order then negotiating upgrades is more likely to fly.

If this is a sale off the lot then try negotiating price and/or finance rate. Getting them to pay the GST is always good for example.

But looking at a brand spanking new one at being 35k base from the factory. Overall your getting a good deal.

http://www.nissan.ca/en/buying/configure/default.asp?modelCode=U4SG55



******EDIT*****

I just noticed that your post states that it's a lease.


What's your balloon payment, interest rate, and down payment/trade?


I'd seriously weigh those first and foremost.

I have never liked leases, Like a lawyer friend of mine says "leases are for suckers"

Tread carefully.

[benyl]

You basically got $2500 off the total price of the car.

It is an 'OK' deal. Not a great deal considering it is a high volume car.

I got more off than that on the STi and the BMW.

Like I said, it is an 'OK' deal, but I bet there is more room.

**EDIT**

I just noticed that you are from Ontario.

That means you got $4250 off the car, which is a great deal.

[RobBrown]

Thanks for the replies!!!!

The intrest rate I negotiated is 2.8% and I will not be making a down payment or giving them a trade.

I don't really like leases either, but the discount that I recieve through leasing it through my business makes it worth the hassle and extra expense.

I am in Ontario, about an hour north of Toronto to be exact.

Thanks again for the replies, they are greatly appreciated.