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More about me
Vehicle(s) I currently own
2006 BMW 330Ci Coupe
  • Re: Standard Rate APR

    Hi Everyone! I normally look for your guidance on lease numbers but I have a new type of question today. Instead of leasing, we are looking to purchase a 2018 Hyundai Elantra because we plan on keeping it for some time. Right now Hyundai is offering about 3000 dollars in cash back if you choose standard rates or only 1000 back if you choose their promotion rates. Has anyone ever dealt with Hyundai standard rates? We would qualify for tier 1 credit and have a Hyundai Lease will be returning that is maturing. Credit Unions are around 3% here in Boston but I'm not sure if Hyundai will try to sell us a much higher "standard rate". Does anyone have insight into what the standard rate might be for Hyundai? Thank you!
    Unfortunately, we don't have the Standard rates for Hyundai.

    But, the promotional rate is 0% for up to 72 months (w/$1000 bonus) If Hyundai's rate is 4.9%-5.9% with $3000, then the 0% w/$1000 is still better.

    Let's assume that the amount financed is $20000, before applying the financing bonus
    The choices rank this way. (assuming 5.9% for Hyundai standard rate

    1) 0%/72 mo. $1000 bonus (so, $19K financed) $263.89/mo.
    2) 5.9%/72 mo. $3000 bonus ($17K financed) $280.94/mo.
    3) 3.0%/72 mo. $0 bonus ($20K financed) $303.87/mo.

    All that assumes that the standard rate is 5.9%.. But, 0% financing is the superior option, assuming the loan is taken to term.
  • Re: Chronic Car Buyers Anonymous

    We own this car.... less is better.
  • Re: 2018 Dodge Charger Lease Deals and Prices

    I am looking to lease a 2018 Charger R/T Scat Pack. The dealer is quoting me .00209 MF. Do all dealers mark up the MF or should I fight for .00167? Also I got the net cap cost down to 36k on a sign and drive. Is that a good price or should I keep negotiating? What is the sweet spot on this car? Zip is 95356.
    No.. all dealers do not markup the money factor. .00042 is the maximum markup allowed, and it looks like your dealer took all of it. It's more likely to happen on expensive vehicles, as dealers find those buyers to be less price sensitive.

    We don't track selling prices.
    36 or 39 months is the best term.
  • Re: 2018 Acura MDX Lease Deals and Prices

    Hey guys! What's the numbers in GA for below

    2018 MDX Tech with 36/7.5k miles. I have 16k miles from my current MDX so was looking at 7.5k and getting the miles rolled over.
    .00074 MF
    $2250 incentive
    60% residual
  • Re: Better to pay off trade in or use money for down payment?

    I have a question I can’t find the answer to anywhere on the internet. I want to purchase a new vehicle, and owe as little on it as possible. I have a trade-in that has a trade-in value of 10000, and I owe 7000. I have 10000 in the bank that I want to apply to the purchase. So it is not a matter of being under water on the loan. My question is: is there functionally any difference between paying off the trade-in for 7000 and using the remaining 3000 as a down payment (plus the extra 3000 “profit” on the trade-in), or not paying off the trade in and using the 10000 (and the 3000 profit from the trade after the lenders resolve the transaction) as a down payment? Either way, 10000 is being subtracted from the final sale of the new car. But I was wondering if there is any drawback to doing it one way or the other. I was thinking specifically about sales tax: is the sales tax break you get from your trade-in going to be based on the 10000 trade in value, or only the 3000 “profit” value, therefore paying the loan first means all the profit goes straight into the value of the trade-in and not the loan resolution? Or are there any other potential gotchas? Please advise, thanks!
    Your trade-in gets paid off, either way. Sales tax credits are based on the value given for the vehicle. The loan amount or pay off has no effect on the amount of the sales tax credit.

    When you trade the car in, the dealer takes care of paying off the loan, because they can't get clear title to the vehicle without doing it. There is only one way to do it. There are no "options", other than what to do with any trade equity.

    But, sales tax credits for trade-ins vary by state.