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If you want a good deal...
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I think I would wait regardless. Your going to kick yourself if you take one that isn't exactly what you want and yours shows up a week later. Becky said they are starting to move at a better pace now |
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Just ran my lease calculator.
sales price $43,000 sales tax 8% down payment 0 trade in 0 Interest rate 6% 36 month lease residual value 58% I get $652/month 6% seems like a high interest rate today If I put in 7% then I get $688 per month. Mid 600 to mid 700 is "good" for credit rating. I think the rate to result in 680 is really high. 4%, which seems more likely a decent loan rate today should get you below $600 per month. |
What kind if money factors or interest rates, whatever they call on leases, could a person expect woth excellent credit?
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I think you said MSRP was $44k and residual was 59%. If you can get the rest of the details including fees, etc. we can provide feedback. |
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So, you can see the key to a good lease is decent discount off of MSRP, high residual, low money factor. A Camaro is not going to lease out like a Toyota Camry or Honda Accord but if you can buy it right and have good credit is not too bad. The leases on new model cars are typically not too good until the banks have confidence in the residuals plus since the car is new and demand is high they can get away with the higher interest rates (money factor). |
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I am not comparing cars, just comparing leases. You can lease a new Lexus IS350 for 36 months, 10k with $1500 out of pocket for $369 per month plus tax. This a $48k car. The much stronger residual value and low money factor that they offer on these luxury car leases are tough to beat. If the car cost $600 per month to lease it and you are ok with that kind of payment then just put like $5k down and buy the darn thing. Then plan on keeping 4 years or so you have some equity.
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