Wow, that is way too expensive.
72x713 = 51k
What astronomical interest rate would you be getting? NM, saw it's 15%
There is nothing wrong with financing IMO, as long as you get a decent deal.
Chances are that Nissan is gouging you because they think you will take this ridiculous interest rate because you want this car so badly.
Tell them you want a 5.5% interest rate and see what happens.
Quote:
Originally Posted by tjlazer
OK I want to buy this new 6MT 2009 370Z Base with Sport Package. Dealer is willing to sell for $31,900. MSRP is a little over $33K. I might be able to get them a little lower as the car has over 300 miles on it and they cannot sell it. They say the color is not too popular. (Monterey Blue)
So here is my deal. I have fair credit. My payment will be $713 a month for 72 months with Nissan Credit. The lease is looking much better. $536 a month for 38 months. $2K down. ($1,800 Credit for promo) 10K miles a year. Buyout after term is $18K...
I did some numbers and it seems I am way better off doing the lease than financing the $32K at 15.5%! I could finance the 18K and try to do better than 15% and it will be like several K less total cost. (and I have the option to walk if I don't want the car at that point)
Thoughts?
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