Located in Tampa Bay FL.
Looking to buy my lease. Got a payoff quote from Chrysler Capital for $18,516. This includes the residual value of $16,725, last months payment of $412.75, purchase option fee of $350 and sales tax.
Applied for a lease buyout loan from BOA, and SunTrust Credit Union which I already have a separate loan with. BOA offered me the lowest APR of 3.89% for 48 months @ $417.17. It’s almost $5 more than the current monthly payment I have now with the lease.
With a credit score of 791, is this APR considered good? My understanding is that lease buyout loan do carry a higher APR than new or used car loans. But I’m not exactly sure how good this offer is.
Looking for input/feedback/advice. Not many options aside from going through the dealer which just from speculation, don’t think they’ll be able to get me anything better since they’ll be looking to somehow make money themselves.