Thanks in advance, I’m trying to see if this is a good choice.
I’m closing out a lease on a 2019 Q50 and reached out to a dealer to see if they would buy it out.
The residual is $23,293 and I’m a few thousand miles under.
The KBB Instant was $28.7k and when I brought it in, they appraised it at $26k and after showing interest in a QX50, they were willing to hike that up to $27.5k.
With the trade-in, they offered me a QX50 at $598/month with $1500 down ($27.6k residual).
Is that a good deal? Or should i just take the $4.2k difference elsewhere?
So you’re at $600/mo with $5500 down. How does that compare with the calculator? You should figure out what buy rate is on the money factor and what the residual is for your trim and terms.
That will give you an idea of the deal you’re getting. Also check marketplace and search bar for comparisons.
What is the year & model & MSRP of the QX50 they are offering you for $588/mo w/ $6k down?
Not a good deal at all. I think you could do better with some of the local broker deals, especially since you’re turning in a Q50. I’m seeing a 2022 QX50 Essential for $546/mo w/ $4k down + MSDs which is a $3600 savings over the life of a new 39mo lease.
@ugfish the calculator was helpful, thanks!
The money factor on this deal is 0.00318, making the residual $27,906. Something isn’t adding up and the deal is not looking so great.
Thanks @alphawave7! Is there a better way to find that out other than KBB or CarMax? I got an online CarMax estimate of $30,800, but I assume I would need to take it to a physical location to get a final number. Going this route, I would also need to buy it out first.
@CaptQ The car that they are offering is a 22’ QX50 Luxe at an MSRP of $46,510. Yea, I’m starting to understand that this isn’t great haha. Thanks, I think I will definitely reach out to Aronchi.
