Hey hackers, first time leasing and this the best I could get so far. Not sure if the dealer has more wiggle room. If so let me know so I can haggle more before signing off.
Also is the one pay worth it or is it too big of a risk on this ev deal.
Post your attempt at LH calc.
I noticed the tax on the onepay is higher…Is that a Michigan thing?
regarding onepay vs not… here is what AI says
Difference
| Item | MF 0.00258 | MF 0.00216 |
|---|---|---|
| Approx APR equivalent | 6.19% | 5.18% |
| Finance charge/mo | $258.53 | $216.44 |
| Base lease payment/mo | $656.64 | $614.55 |
Monthly difference:
656.64−614.55=42.09656.64 - 614.55 = 42.09656.64−614.55=42.09
656.64−614.55656.64-614.55656.64−614.55
So the lower MF saves about $42/month or about $1,010 total over the 24-month lease before tax/fees.
Money factor × 2400 gives the approximate APR equivalent.
I think the Michigan 6% sales tax on the one pay is for the entire amount. The traditional monthly sheet only charges a portion of the tax at signing because the remaining sales tax is baked into each individual monthly payment.
I think I’ll pay the extra 1% apr rather than taking the risk of a one pay.
A link to a calculator with the numbers above, or details on the car would help. Can’t seem to figure out how they got these numbers.
IME a lot of people believe there are one-pay risks that aren’t actually there.
Are you concerned about a total loss, because that’s covered in the lease agreement (you get a credit for the unused portion of the lease, which in practice means a refund, and you have gap coverage in the event of a short payout from insurance).
Yh, I was scared of a total loss and not being refunded the unused portion of the payments. Butf what your saying is true than I would rather do a one pay.
