Leasing 370z offer

RunNgun · 11-04-2011, 09:47 AM

Quote:

Originally Posted by Kurofox23

Ive been talking to the internet sales manager at Brandon so far and he seems really nice, and hasnt tried to push me into anything. Answered all my questions and ill probably go in there tomorrow or wednesday to test drive. And yah for sure lemme know when you get it, goodbye cobaltss.net hello 370

The nicer they seem, they harder they are going to try screw you. It's all just an act, and they are NOT your friend.

somatic · 11-04-2011, 09:52 AM

Quote:

Originally Posted by RunNgun

The nicer they seem, they harder they are going to try screw you. It's all just an act, and they are NOT your friend.

with internet, that's not always true. internet guys get paid more off volume usually. i know that i have had volume bonus bigger than floor salesmen at my last three dealerships, because internet guys are expected to make less profit.

GraphiteZ · 11-09-2011, 12:59 PM

Thay are basically charging you 15% APR

on your lease. You are basically paying more than $4k of interest in 39 months. I've never leased a car before. Is that normal?

somatic · 11-09-2011, 01:09 PM

Quote:

Originally Posted by GraphiteZ

Thay are basically charging you 17% APR

on your lease. You are basically paying more than $4.5k of interest in 39 months. I've never leased a car before. Is that normal?

....where on earthe do you see that?

the Money factor is .00210, there isnt an APR on leases lol

GraphiteZ · 11-09-2011, 01:22 PM

Quote:

Originally Posted by somatic

....where on earthe do you see that?

the Money factor is .00210, there isnt an APR on leases lol

It is actually 15%. I don't quite understand how the money factor work.

Here is how I got my number.
Total cost of the car: 31,151+1,967+699+298 = 34,115
Residual of the car after 39 months = 18,984
That means the total depreciation of the car is 15,131

The deal requires him to pay 496 x 39 = 19,344

That means total interest in this deal is 4,213
With an Excel spreadsheet, that is 15.46% APR

Did I do it correctly?

PasswordJDM · 11-09-2011, 01:40 PM

Quote:

Originally Posted by GraphiteZ

It is actually 15%. I don't quite understand how the money factor work.

Here is how I got my number.
Total cost of the car: 31,151+1,967+699+298 = 34,115
Residual of the car after 39 months = 18,984
That means the total depreciation of the car is 15,131

The deal requires him to pay 496 x 39 = 19,344

That means total interest in this deal is 4,213
With an Excel spreadsheet, that is 15.46% APR

Did I do it correctly?

Interest Rate = Money Factor x 2400

So MF of .00210 = 5.04% Interest Rate

somatic · 11-09-2011, 01:41 PM

Quote:

Originally Posted by PasswordJDM

This is how you calculate what the money factor is equal to in interest rate

Interest Rate = Money Factor x 2400

somatic · 11-09-2011, 01:40 PM

Quote:

Originally Posted by GraphiteZ

It is actually 15%. I don't quite understand how the money factor work.

Here is how I got my number.
Total cost of the car: 31,151+1,967+699+298 = 34,115
Residual of the car after 39 months = 18,984
That means the total depreciation of the car is 15,131

The deal requires him to pay 496 x 39 = 19,344

That means total interest in this deal is 4,213
With an Excel spreadsheet, that is 15.46% APR

Did I do it correctly?

youre not accounting for projected mileage

GraphiteZ · 11-09-2011, 02:00 PM

Quote:

Originally Posted by somatic

youre not accounting for projected mileage

Is that the 12000 miles / year?

11-09-2011, 12:59 PM	#3 (permalink)
GraphiteZ Base Member Join Date: Nov 2010 Location: Northern VA Posts: 96 Drives: 05 Elise and 13 GTI Rep Power: 33	Thay are basically charging you 15% APR on your lease. You are basically paying more than $4k of interest in 39 months. I've never leased a car before. Is that normal? Last edited by GraphiteZ; 11-09-2011 at 01:11 PM.

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