I’ve been trying to find a good lease on one of these but it’s impossible, negotiated a discount of $14,000 on a $55,000 MSRP 2018 Armada SL, but to get this price i need to finance through Nissan Financial at standard rate, dealer said it’s 4.66% for 72 months. When i asked about early payoff (i intend to pay it off very quickly) they told me 6 months minimum. Now i remember when i sold cars 10 years ago the finance managers would tell me the same thing but is it true? Does anyone know whether i can pay off the car say after 30 days in full without a pre payment penalty? I so wish the money factors were low on these so that i could lease it, it’s so much vehicle for only $40k. Thank you community!
I forgot, if anyone knows of a great lease on a huge SUV, Tahoe, Yukon, Suburban, Navigator, Sequoia, Armada, QX80 etc please let me know as well, much appreciated
Im confused, your post says PURCHASE, you mention here lease and then your talking about finance rate and early payoff. Just get a new car loan from Bank of America. Great rates, no pre pay penalty. And also curious, why dont you just pay cash if u want to prepay in full within 30 days??
Unless your contract says there is prepayment, there is none. Dealer will not get spread from bank unless you keep loan for 6 months. I assume they making 1.5% spread on 40k, comes to 600 profit for them.
@chevysalesgirl has a 36/10 Tahoe for $14k one pay, which is only $388/month including CA tax, well under 1%.
There is a $3000 rebate if i finance with Nissan, if i pay cash (or get financing elsewhere) i lose the $3000 rebate. I wanted to finance with Nissan for a month and then pay it off in full.
Is that an LS or LT?
If you pay it off before 3 or 6 months, the dealer will get screwed. Just keep the loan for however long they say is necessary. It won’t be that much interest anyway
You can technically pay it off as soon as the loan is funded and you have an account number. The dealer will get charged back the rebate if you do it before three or six months. You won’t be on the hook for it but they won’t be happy about it.
Or you could make one big payment like $35k in the first month. Then continue to make five more months of payments before paying it off. So the interest charge for the first six months will be minimal.
what dealer is offering 14k off?
My brother is in the market now to buy a Armada and would love 14k off
Ask for more of a discount, to make up for whatever interest you’ll pay in the first six months.
going to pay cash…but need a dealer first in CA or near Reno that will do this deal.
What is the amount of the financing? You have to calculate the interested you pay for 6 month with 4.66% vs the interest you pay with another bank. I don’t know what it is, but the difference needs to make sense for the trouble.
Let’s say you go to BofA, 3.09% for new car. You are saving 1.57% of interest for half a year on $35K (assume you put 10% down). The saving is merely $275 for a $40K car over 72 months of financing period. It is a very smaller amount in the grand scheme. IMO, I will just wait for that 6 month to avoid any unnecessary trouble.