Bottom line
Total out of pocket - $3000
Monthly payment - $340 (original quote included a $250 trade in but I wont do that)
Leasehackr score - 10
I think this is a good deal but part of me cant believe i can afford a decent car. Is this a good deal? and how do I get myself to pull the trigger and make the purchase?
MF is marked up from .00152. Is this a loaner or brand new? What’s the out of pocket consist of? Did you price out a 24 month term? I didn’t do the math, but it looks like you have enough discount + rebate to make a 24 more attractive.
Ok so I looked at my breakdown again and they were assuming I trade in my old beater which they would give me $250 for but I think im going to pass on that and try to sell on craigslist.
so the total price would be $432 a month
the $3000 oop i believe would be a cap reduction.
From everything i have given i get a total cost of 15266.50 I was going to put 3k down since the MF is so high. This would save me $600 in the long run.
Thanks again
Also I did not price out a 24 month lease. I may try that too and see what I can get.
Sorry I think I’m a little confused as well. The total three year cost of the car for me will be $15266.50 I made a calculation error earlier but the cost is broken down in the original post. Unless I missed something which is very possible.
How I understand everything
total financed - $15266.50
=$424.07 per month
or
total financed - $15266.50 - $3000 down =
=$340.74 per month
OK - that’s helpful. Basically that $3000 OOP would cover your upfront taxes, acquisition fee, doc and registration fees, and first month with maybe a little extra CCR to round up, which is OK. If it were me I’d roll in the taxes and acquisition fee into the lease and put the $3000 into an interest earning account.
I ran your numbers through at 24 months and I don’t think you’ll see any savings there.
I would definitely push for buy rate on the MF and maybe a bit more discount (though you might not get very far).
Doesn’t sound like a good deal to me. You are only getting 11% off MSRP on a 2017 model. I’d imagine you could probably get the same discount off a 2018 Model.
