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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
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#21 (permalink) | |
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Base Member
Join Date: Nov 2010
Location: Northern VA
Posts: 96
Drives: 05 Elise and 13 GTI
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Quote:
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? |
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