I’m not really sure what you’re asking
You’re paying for everything eventually (including lighting that 8k on fire) just delaying it down the line because it’s only 8k this time. Next time it’s another 5k but you haven’t paid half of this 4K off, and it grows and grows and grows.
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Yeah, agreed. Hence my suggestion of separating the negative equity and the actual deal.
Aside from the— should you or shouldn’t you roll negative equity…
Ally is doing 0.001163 MF with a 59% RV 36/12 Charger Scat Pack Widebody in Feb.
Your .00252 MF would seem to resemble the FCA standard rate, where RV is also 59%
Really no reason to use FCA here and even LESS of a reason if you want to roll equity.
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Are you asking if the buy out price includes tax or not?
The dealer does not pay sales tax, however, you need to make sure to get the 3rd party/dealer buy out price rather than your personal buy out price. It is not uncommon for these numbers to be different.
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Sure, but that needs to be done before getting numbers. Once an offer is written with the trade included, you can’t just assume that the offer is the same if you lop off the trade. Dealers will very often show a higher discount with a modified trade equity to make the deal feel better.
You had a 2019 charger and impulsed into a truck and now you’re impulsing back into a car. The numbers presented here are stunning. Don’t do this!
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6% off msrp is a healthy discount, not out of this world but not garbage. Safe to say this type of discount is achievable by quite a few dealers.
It doesn’t matter if it’s achievable or not. The question is if that is what this dealer is offering. The point is that if one wants to compare deals, you have to know what the deal you’re comparing is. You can’t pick and choose parts of a deal and get rid of others and assume that dealer is ok with that.
It’s no different than a dealer that offers a big discount, but marks up the mf. You can’t assume that dealer would offer the same discount at buy rate just because some other dealer would offer that discount at buy rate.
Sure… I’m not disagreeing with you, you need all the details like the trade in info…
But I can assume because I am dealing with cdjr dealers and have helped buddies get scat pack widebodies, 6% is more than achievable, there’s another thread here where an op started at 8/9%.
This dealer can definitely get to 6% if not more, whether they do it or not is moot cause op can go shop this around the east coast and achieve this all day.
Tell us more about the RAM? Have you tried selling to carvana? 8k negative on the RAM after just one year lease sounds terrible but then what are your lease numbers? Did you roll negative into the RAM?
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Before looking for a new car, figure out:
- How much the RAM is worth
- How much negative equity you have
- If the negative equity is worth getting out of one vehicle and into another (spoiler alert, it usually is not)
Rolling $8,000 of negative equity into an approximately 6% interest rate is not the way to go. If you really want the Charger, figure out how to sell the RAM for as close to the 3rd party buyout.
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My thoughts exactly, my experience is people usually listen to your advice for about 5 seconds and then go do whatever they want, and that’s in real life not even on the internet.
I find 8k in negative equity hard to believe on a half ton truck, i would say 3-4k is more on par but who knows maybe the truck sales price wasn’t that great, the truck has high miles, rough condition, market conditions, etc etc.
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In a way I agree with everyones comments, my big question really was is it a good deal BASED on everything. A few commented about the equity itself which helped me think a little more. But overall my question was is it good deal, because I’ve had dealers offer similar car with similar MSRP yet ask for over $1000 a month.
I think I have provided you with the only real comment on the actual deal, most everyone else is jumping on the negative equity train.
If you are going to eat the negative equity you have two choices in my opinion.
Get a scat and straight up eat the negative equity as a separate deal or part of the deal but shell out the cash don’t pay interest on it.
If you want to roll it in then do so on a base charger hellcat with .00008 mf aka .19% where the interest rate is so low you can roll it in.
Pros and cons to both, base hc vs optioned scat, $525+/mo 1k das + 4-6k out of pocket to cover neg equity or $850+/mo with 1k das.
I would definitely try to figure out how much actual negative equity you have first and foremost, then check out the other scatpack widebody thread for an idea of discount.
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If you need a dave ramsey/personal finance suggestion that I have zero confirmation if it works but, have you tried looking at an EV lease with a butt ton of rebates greater then the 8k - eggy?
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You provided comments on a deal that doesn’t exist. You’re literally the only one commenting on something other than the actual deal. It may (or may not) be a reasonable target, but until the dealer offers the same deal without the trade, it isn’t a real deal. One can’t just assume they’ll offer the same deal without the trade.
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Don’t get butthurt… they aren’t comments they are facts about the market go grab any broker who does cdjr or anyone who works for a cdjr dealer and they can tell me I’m wrong.
I just helped a buddy close on a 62k scat pack wb at 9.5% off when he was offered 4-6% all day.
Nobody in this thread has provided any insight on what the market looks like because nobody in this thread has any idea because they aren’t shopping or have dealt with a cdjr dealer.
I’m just trying to offer op an idea of the market if he ends up wanting one anyway, all the rest of this thread is just telling him it’s a bad deal and then providing no useful information outside of the whole negative equity aspect.
I’m focusing strictly on the selling aspect, I don’t understand what your issue is here.
Op takes peoples advice and trims down the negative equity, op takes my post into consideration and then goes after a higher discount off msrp.
This is a lease forum not a financial advice forum, I’m not saying you are wrong, I’m actually saying you are completely right, but like I said people do what they want, guaranteed op is looking at every way he can to get out of the truck and into a charger… expensive mistake but it is what it is.
That’s the point. It’s important to understand that a standard tool in the dealer’s toolkit is to offer an inflated discount and pair that with a modified trade equity. The question here was regarding this deal; that means every part of it. Telling someone “hey, this isnt a horrible deal if you ignore the trade equity” is offering an opinion on a straw man. It isn’t the deal at hand. You’re saying a 6% deal isn’t bad, but there’s absolutely no reason to believe that this even is a 6% deal.
So let’s say he takes your advice, decides he’s fine with the negative equity, and goes and negotiates another 2% off msrp. 8% sounds great, right? Sure, until it comes out that this is actually a 2-3% deal with a tweaked trade value to make the discount look larger.
This is all resolved by stepping back, determining the actual trade value, and putting together an informed target deal. Anything else is a pointless roll of the dice.
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