Comparing lease offers

[Jd284]

Hi guys, I'm looking at a Stinger gt awd msrp 43,545 dealer discount brings it to 40,840. The lease incentive of 5k is applicable and the residual seems to be 23. I have a trade valued between 9-10 which would result in a 4-5k doenpayment. Before taxes and other fees it would be around 365, and after taxes and fees probably around 400. Does this seem on par with the deals others have been getting. I have not shopped around yet at other dealers. I'll update this post with addl info as I get it.

Thanks!

 

[MurlinatoR]

Hi guys, I'm looking at a Stinger gt awd msrp 43,545 dealer discount brings it to 40,840. The lease incentive of 5k is applicable and the residual seems to be 23. I have a trade valued between 9-10 which would result in a 4-5k doenpayment. Before taxes and other fees it would be around 365, and after taxes and fees probably around 400. Does this seem on par with the deals others have been getting. I have not shopped around yet at other dealers. I'll update this post with addl info as I get it.

Thanks!

Hey there [MENTION=1084]Jd284[/MENTION]! Welcome and congratulations on your decision to get a Stinger!

So, the price is good. Your money factor is probably what's around .023. The residual would be more like 53%. Your sale price should be around $36k after the lease rebate. I'm not sure why you said that your trade in that's worth $9-$10k is only giving you a down payment of $4-$5k unless you have a loan of $5k that you didn't mention...?

Anyway, that's a good deal. If it's the right Stinger for you then go get it!


-MurlinatoR

 

[Jd284]

Thank you MurlinatoR!! Yes I have a loan of 4500 left on my current vehicle, which I can easily pay off but prefer capital on hand. Thanks again. I am narrowing in on my decision, I'm looking at a couple of other vehicles but this seems like a great deal for what I would be getting.

Also what are lease end purchase apr rates for leases usually? Never leased but have 800+ score. Am I looking at .9% down the road or 2-3%? Seems the savings are significant enough to lease then finance rather than finance outright at .9%

 

[MurlinatoR]

Thank you MurlinatoR!! Yes I have a loan of 4500 left on my current vehicle, which I can easily pay off but prefer capital on hand. Thanks again. I am narrowing in on my decision, I'm looking at a couple of other vehicles but this seems like a great deal for what I would be getting.

Also what are lease end purchase apr rates for leases usually? Never leased but have 800+ score. Am I looking at .9% down the road or 2-3%? Seems the savings are significant enough to lease then finance rather than finance outright at .9%

No problem bud.

You are correct regarding the lease incentive. It's too good to pass up.

For buyout options, it will be whatever you qualify for that is available in the market at the time.

My advice to you is to buyout your lease IMMEDIATELY. The interest in the lease is double what a local credit union will charge you. I will be getting a Stinger this fall and I will be leasing it and then buying it out and refinancing it as soon as I get my paperwork. I'm cheap, though. LOL

 

[Jd284]

No problem bud.

You are correct regarding the lease incentive. It's too good to pass up.

For buyout options, it will be whatever you qualify for that is available in the market at the time.

My advice to you is to buyout your lease IMMEDIATELY. The interest in the lease is double what a local credit union will charge you. I will be getting a Stinger this fall and I will be leasing it and then buying it out and refinancing it as soon as I get my paperwork. I'm cheap, though. LOL

Thanks!

I read your other post which explained this strategy in more detail. Ive never leased before but in a nutshell it looks like the money factor essentially translates into your interest and impacts the residual, is this correct? So when you say my MF is near .0023 thats around 5.5% interest applied as a premium to the residual or to each payment? (Compared to financing rate which impacts the monthly payment directly).

 

[Jd284]

Also you were very close with your estimates, here is what I just received:

The MSRP is $43,545
Price after discount and rebate is $35,840
The residual value is 54%

Residual seems average for a premium car and MF seems pretty darn high for 800 credit. That's kind of a deal breaker but with the mileage I drive it might pan out as a favorable long term thing, especially with 7k off msrp.

Thanks