Thanks for all the help for first time leasers to understand about lease here! This is my first time leasing - Not completely clear whether this is a good deal with the trade in (~$7500):
2020 GLC300 AWD - 36month/10K miles
Sell price: $37,474.91 (on contract)
Monthly: $253 after tax
The rent value listed: $1,475.18; which would make MF 0.00064? The dealer made some of the trade-in as a down payment of $6.3K, so there was a 9% tax (~$573) on that downpayment.
Is this a good deal? Is it better to get trade-in in cheque or included as down payment? Also, I’m not sure whether the rent value listed on the lease is the right way to calculate MF - cuz if I use the lease caluculator, with the same data, and $6.3K as downpayment, the MF is around 0.0013.
(My friend seemed to get a better deal even though the MF they got was 0.001 based on the rent charge listed on their contract: $50K MSRP, 36month/12K miles, for $480 monthly after tax, $1700 drive off). So I’m not sure if the “Rent Charge” listed on the Lease agreement is a source to see whether the deal is good.
Thanks for your help! I tried to read many posts to try to find the answers - so apologize in advance if they were posted elsewhere.