I have never been able to get chatgpt to correctly calculate a lease.
Take the time to learn to use the calculator here. There are very detailed write ups available on how to use it.
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Can’t refinance until the car is paid down roughly 6 grand… it would take awhile for me to get there. That being said maybe I should just bite the bullet and deal with it
. The problem is Mitsubishi anything has been quite expensive and I’m out of warranty as well. The ev/hybrid thing is interesting bc it felt like a second chance to get out of where I’m at … but I hear you though.
There will be some exceptions but for the most part I think the ship has sailed on that for the average consumer. Too much panic buying, too little remaining inventory.
Have you identified a deal that could theoretically work for you?
ive punched in a few things with chatgpt trying to work into every possible stack that i can, it seems somewhat feasible with cars like the VW ID4, the prologue, the kia niro ev and ofc the hornet
The best thing that you can do is stop using that for something like this. Far too many intricacies in automotive leasing programs for AI tools to be particularly useful. That’s not even talking about the human element involved in proposing an aggressive deal to a dealer and closing it.
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Im picking up that vibe honestly. i only recently found this page so im trying to learn a bit better on how to go about everything. if it doesnt get done by end the month, it isnt the end all be all really. its just something i was looking into. and it DOES seem like a possibility. i just would like to come out better than where i am right now
No. But if you get a low MSRP loaner Hornet for $150/mo on 24 months lease, your $7,500 neg adds $313/mo. So the total is ~$465/mo. But then you are free from negative in 2 years.
Keep in mind that these deals you see include some targeted incentives that you may not have. See what brokers offer and hire one.
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Can you explain how you got the 313/mo with the NE, When i tried figuring the math on it i got around 208. just 100 dollar difference i know but it would be helpful regardless, and i have looked at some of the deals made here and am considering it, before i do im trying to make sure that im doing all i can
7500/24=312.5…quick math and doesn’t include the interest/taxes you will pay on it.
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My bad for the misunderstanding. I was looking at mainly 36/mo leases so that it would cut it up a bit more thanks for clearing it up
Don’t know you or your situation but it sounds like you don’t even have 6000 saved up to get you out of current car and now you are going to get into a new car at 500 a month which sounds like will be a significant amount for you…I think you should go the most conservative route you can…keep the car you have and keep digging out slowly…if you can do 500 a month pay current car down more quickly.
Keep in mind that knowing the equation for leases would be pretty helpful in your analysis. Most of the time a 36 month lease provides an RV that supports the lowest TCO ( total cost of ownership ) however we have seen lately that some lessors are turning the RV dial where a 24 month lease provides a more “hackable” lease.
I know it was mentioned earlier in the thread about all the resources and tutorials / videos on the main LH page, these calculations are where this comes into play. No one learns all this stuff in a day and I get it can be frustrating or overwhelming even before the negative equity you’re trying to deal with.
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I don’t have 6k saved up right now, no. I saw a few of the deals on here and thought that this was a possibility. I have been paying extra on it just for it to goto the next monthly payment even though I thought I was paying it down… the loan co I’m with at this time (flagship) has some of the worst customer service and transparency I’ve dealt with ever.
If it was possible to get into something (like the dodge hornet) at a much better Apr than I’ve got right now, that’s just what I’m trying to do .
The 24mo lease would be great but it would push me over where I would be comfortably unfortunately price wise. I’m trying my best to stay under that 400/mo mark. If at all possible less than even that… I’ll have to go back through some of the tutorials and what not and see if I can’t grasp a better understanding the Process
Agreed. OP needs to read more instead of replying here.
Talking about a Hornet (which has a 24m program at its best) and then talking about dividing his NE by 36… just one example of how replying here needs to take a backseat to diving deeper
TLDR don’t post again until you’ve learned enough to post a calc link showing your Hornet target.
You need to do whatever you have to do to figure out your current loan first…term, rate, balance, how they handle extra money paid…this is your job 1 before even thinking of another car.
For leasing, learn how to put a leasing spreadsheet together yourself or use this and know all the negotiables:
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No need for that.
I really have no clue what this comment is supposed to accomplish.
You have no control over what others are posting. The only things you can control are your own knowledge base and your own posts that move the conversation forward
I always hesitate to suggest this because there are some important caveats, but you could open up a new balance transfer credit card, and transfer the balance of the loan for a 3-4% transfer fee, and lock in the balance at 0% APR for up to…. I think I’ve seen 21 months.
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