Wish i could i am keeping the car. I have extended 6 months and also 5 days.
I have to make a decision now. i am comfortable with the numbers, i have just always leased and never financed and not sure if option a is better than b or if there is something else i should be considering.
I know im not in a good position but it is what it is
As much sense as this makes, im between a rock and a hard place. I have today and today only to make this deal and thats on me, ive been putting it off forever.
My initial thought was the 2k down 60months but then i liked the idea of having more cash on hand and doing the 72month zero down, but the risk of being upside down is making me lean towards the 60month, 2k down.
I understand many here wouldn’t approach it this way.
i guess in my mind its pay this or pay something crazy for a lease
Both options have minimal difference and we’re probably talking a ~$500 swing after your 12-15 months of keeping it. I’d keep the 2k in my pocket and just pay the extra $20/month and sell it or trade in when you’re ready for something else.
Setting aside questions of 3100, your conundrum seems to be in choosing the loan?
First, like people are saying, APR is high on both. There are better APRs from third-party lenders.
Second, if you are keeping the car for over the year, you are going to bear a good chunk of the extra interest on 72m loan. Which one to take is a personal financial choice. With longer loan, you end up paying more overall, but your monthly payment is lower. What is more important to you?
Honestly, it doesn’t matter what anyone here is saying. All you’re looking for is validation. Financing and leasing are all based off of something called arithmetic. Not much of a difference. Do what you’re going to do because nobody here is going to change your mind, but don’t expect to get any pity or validation from anyone either.