QuestionQUESTION: Hi Steve,
I bought a 2002 Nissan Altima 8 months ago for $8750. Since then, the check engine light has come on 4 times. This last time it came up as the catalytic converter needing replacement, which was quoted to me at $2000. The dealership gave me the option of trading it in to do a college graduate lease-to-own of a 2011 Nissan Sentra SR. The deal would be $150/month for 39 months, 15,000 miles per year, with a $2500 check back to me. This deal also includes all taxes, registration, fees, etc.-no extra charges.
I work at a job where I need to drive about 1000 miles/month, which means putting a lot of miles on a car in a short period of time. However, by the time the lease is up I'll be out of that job and at a new one which is much closer to where I live. I want to lease for the next 3 years so that I don't own a car that has a ton of wear and tear on it from this job, and I was thinking at the end of the 3 years I would purchase a newer used car to have for a long time.
Is this deal with the Sentra a good deal or should I shop around elsewhere? Thanks!
ANSWER: Hi Kate,
Need to know a little more. Do you owe any money on the Altima? Other then the 1000 miles a month for work, about how many more miles will you drive. Let me know then i will continue with an answer
STEVE
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QUESTION: Hey Steve,
I do not owe any money on the Altima, and I would say that I drive around 13,000 miles per year including vacation time and normal driving to the grocery store, etc.
Thank you,
Kate
AnswerHey Kate,
I think you can get a little more money back then $2500.00, tha is a very big loss plus you had a lot of trouble with the car. Your car is worth sbout $6800.00, you should get back at least $3500.00 In a lease you have to separate the 2 deals. They are making a lot of money on the purchase of the Altima from you, and they are making on the new lease. If you stick with this deal, good luck, and let me know if you have any other questions.
STEVE
