Is this a good deal on a 2010 2LT ABM?
 

I had to trade in my ABM back in 2009 due to financial issues as I was only 19 at the time.

I've been dying to get it back ever since. However, I'm currently stuck in a lease with a 2014 Mazda3. I found a 2010 2LT ABM automatic (no RS package though :-/) that is about $25K with 22,000+ miles on it.

The dealer said they're having a special and I can get it for $20K. They will take my lease from me (it would cost me $4100 to get out of it on my own) and let me finance the car for $399 a month for 72 months with no money down after taxes and fees.

My car payments now are only $248 a month, but I've already gone over my miles on my lease so I'm afraid I'll get screwed at the end. The Camaro payments would be more per month, but at least I'd own the car.

I would do it, maybe get some funds to put down to make the payment lower.

Disagree... you'll be paying $28,728 for an (almost) six year old car, over the life of the loan. By the time you pay it off in 5 years, it will be worth practically nothing and should you decide to trade it in before then you will owe much more than it's worth. I suppose it may be worth $20K now (maybe), but you will be financing $8,728 more than that and still be driving a 5-6 year old car. I think you can get a 2015 LS for about $20K.

DON'T DO IT! Sounds like you already made a bad deal on your lease car... don't make another one on top of it.

Agreed. If you were talking straight purchase, maybe, but on a 72-month, I personally wouldn't go any more than $300-325/month for a six-year-old car. I've had to dig out from bad decisions on car purchases before. Had to trade in a brand-new '04 Ranger for a slightly-used '04 F150 because the Ranger wouldn't fit a babyseat and my crotch-piece forgot to talk to my wallet. At the end of the day, I wound up paying something like $42K for a used pickup truck with virtually no options. Fortunately, it's been a solid vehicle, and I still own it, but definitely wouldn't go down that road again.

Get clear of your lease first.

I would wait for the deals on the 2015's once the 2016's come in. $20k for a 2010 with no RS package is way too much!!

How do you figured $28,728 if the car is only $20K + $4,100 for what I owe on the lease?

$399 x 72 = $28,728

This.

I'm just so in love with the ABM color and this is the closest I've gotten to finding one within my budget. :(

What is ABM and why is it worth so much?

It's not necessarily worth more, but it's a color (Aqua Blue Metallic) that was only available for a limited time during the 2010 model year. They stopped making it because not enough people were buying it.

I agree that ABM is a very sharp car, but you gotta make the numbers work for you... your lease not withstanding, I think that is a hefty price for a non-rs car.

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Not sure what an ABM is but I bought my 2010 one owner Synergy Green Camaro 1LT w/ 14,000 miles for $23K and that was a little over N.A.D.A. at the time, but I wanted the color and the mileage so I drove 5 hours to buy it. I only got a 4 year loan and didn't do any horse trading to get it. No way I'd go 72 mo. on a used vehicle myself. I'm not sure I'd go 72 mo. on a new Silverado.

If you have to go a 6 year note on a used car, you simply can't afford that car!
Just my opinion.