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Opinion on Lease Rate

rhpdevrhpdev Member Posts: 14
edited December 2016 in Lexus
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.
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    kyfdxkyfdx Moderator Posts: 241,083
    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.

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    rhpdevrhpdev Member Posts: 14
    I have an existing lease running 8 months $5446 left on my payments. How would this affect the deal?
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    kyfdxkyfdx Moderator Posts: 241,083
    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?

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    rhpdevrhpdev Member Posts: 14
    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.
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    MichaellMichaell Moderator Posts: 244,051
    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.

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