Looking for any advice on my Lease or Finance situation. Looking at selling my Ford Focus, and getting an SUV instead for the larger cargo space, and AWD. Here is what I’m looking at for a 2024 Mazda CX-5 S Carbon Edition. Sorry in advance, I don’t have the money factor on hand. Residual for the lease was around $20,600.
These were the first numbers I got, and they already tacked on an extra $200 to their advertised discount from MSRP. Unit has been on the lot for ~50 days. I feel like maybe they could move some more.
Finance in this case is the way to go or lease it and after a year buy it out early if you can get a low APR on the buyout as the finance APR.
FINANCE
60mo @ 0% APR
$5k down
$505/mo
Yeah, as much as leasing would be nice on my pockets, and allow me to keep money saved away, if I want to invest in a car, a 0% loan is a good way to do it.
Yeah, I think so! The rule of thumb is to get 1% or more off MSRP on any lease. You can save the 5k from putting down on the finance if you can. Put 2k and save the 3k and if you can get the 0% APR buy out your lease after a few payments and you will save 3k and still be financing while getting in the car at a lower down payment. Just food for thought.
All in all you can’t go wrong Financing with 0% APR
