I know a guy who rents out Giuila’s on Turo and he’s always pissed at how often they need to go into the shop. (Because he aint making money on them.) Covid did kill that business but he wasn’t happy at the frequency.
Then your DAS is at least $7,2xx equity plus the $8xx cash.
Maybe more if you put your VIN to every buyer on the list posted earlier and can get more equity out of it.
I did go to every buyer, those are the numbers I’ve received.
I understand what you did there now, I think.
The equity portion of your DAS is at least $7,216. That’s another $300+ per month over 24 months.
You’re handing over an asset whose cash equivalence is $7,216. Skipping the step of selling to a third party and depositing that check does not change that fact.
No car rented on Turo is going to stay in one piece for too long.
My mom had a base giulia. Everytime Id come home from school she’d have a loaner. Completely unreliable
If the numbers don’t make sense to you, then you need to PAUSE this deal.
I don’t want to pile in because others have said most of the thoughts I have. Frankly, I’d consider a different option and pocket the cash.
Why not try to take over someone else’s Alfa lease instead? I’m not saying the below linkes are great examples, rather thought starters:
Have you looked at any of the broker options local to you?
Reason why your calc isn’t lining up is tax. He is not taxing the trade equity, so you have to enter it as a non-taxed rebate rather than as a taxed down payment.
That said, even if you are married to this car, you are obviously leaving money on the table by accepting $5k for a car you have offers of up to $7200 on. My suggestion… again, if married to this car… is to show him your offers and ask him to come up. At the very least, erase the $1040 cash out of pocket. Although I still think that is a little light. If you get him up to $6500 equity, you’d be $405-$410/mo with $0 out of pocket.
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Thank you both, I will see what I can swing.
I would think you can do better since Alfas are not selling as quick as the other brands.
When i was picking up my wrangler salesman was complaining about how they dont have any Jeep inventory, but there were tons of Alfas sitting on their lot.
In 2020 during covid there were great deals on Alfas. 300-400 /month for Stelvios. As it was mentioned you may find a transfer for cheaper. I just purchased my Stelvio from Ally to sell it.
I would suggest check Stelvios too. More room, still great drive. And check with Strongsville Alfa delaer they ship free.
I think Giulia doesnt worth that price even in current market.
The only information of value on edmunds is the rv/mf/incentive information you get when posting on their forum and asking directly.
Ignore EVERYTHING else
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That would inaccurately portray the total lease cost and effective monthly payment.
TOTAL LEASE COST TOTAL COST OF LEASING ACCOUNTING FOR DISPOSITION FEE AND POST-SALES REBATES. IT EXCLUDES GOVERNMENT FEES BECAUSE THESE FEES VARY ANNUALLY.:
$10,927
Need to add $7200 here
EFFECTIVE MONTHLY PAYMENT TOTAL LEASE COST DIVIDED BY THE NUMBER OF MONTHS. THIS IS HOW MUCH YOU ARE EFFECTIVELY PAYING PER MONTH OVER THE COURSE OF YOUR LEASE.:
$455
His effective is more like $755.
Really?
Also, heads up, I think carbuyerusa is a scam. I spoke to someone and took several pictures with them on the phone. I submitted the photos and I was promised a call back shortly. It’s been several hours with no call back, multiple texts from the similar number but the last two digits are different, but the phone numbers don’t ring when I call them. I did get several emails and a shipment notification from them, no idea what that is.
Yes. But only other option, as far as the LH calc, is to fudge the tax to line up. Maybe a good addition to the calculator would be a non-taxed down payment, @michael . Just a thought.
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Ok, I take it back. For whatever reason carbuyerusa took the longest. They offered 6,500 and they’ll pick it up.
Looks like I’m going to separate the transactions and keep shopping for a replacement.
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The way I have been explaining it to customers, view your lease equity almost like a rebate.
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You could always throw that into the non taxable rebate section to make it come out correctly, no?
I guess you didn’t read the thread. lol.
Generally speaking that’s incorrect. Equity that can be cashed out should be viewed as cash or equivalent. It’s not much different than finding a gold nugget in a riverbed or your grandma bequeathing you some Treasuries. How one chooses to spend the windfall is a different question.
Skipping the step of selling the asset and depositing the money into your bank account doesn’t change the fact that you own a sellable cash-like asset.
Volvo is one of the very few exceptions. There is no direct way to access the equity, so the cash equivalent is post TTL on the buyout.
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