Opinion on Lease Rate

rhpdev

I am wondering what you think of this deal.

MSRP: $54,723
Sale Price: $53,637
Term: 36 months
Mileage: 12k per year
Residual: 63%
Money Factor: .00195
Cash Down: $0
Monthly Payment: $856
State sales tax: 5%

Seems high to me.

kyfdx

rhpdev said:

I am wondering what you think of this deal.

MSRP: $54,723
Sale Price: $53,637
Term: 36 months
Mileage: 12k per year
Residual: 63%
Money Factor: .00195
Cash Down: $0
Monthly Payment: $856
State sales tax: 5%

Seems high to me.

Seems really high.. .00155 is the base rate, but that's high, even with a markup.

rhpdev

I have an existing lease running 8 months $5446 left on my payments. How would this affect the deal?

kyfdx

rhpdev said:

I have an existing lease running 8 months $5446 left on my payments. How would this affect the deal?

If the dealer has to eat the payments, then it will add about $160/mo. to the deal.

Why get a new car, if you still have eight months left?

rhpdev

The $856 includes them picking up the 8 mths remaining. Why are we looking to get out is we are very interested in the 2017.

Michaell

rhpdev said:

The $856 includes them picking up the 8 mths remaining. Why are we looking to get out is we are very interested in the 2017.

Your payment would be closer to $700/mo if you wait. Generally, not a good idea to terminate a lease that early.