A dealer offered a $10000 discount from MSRP for a new SR trim costing about $40000. I wanted to roll in $6000 from current lease. They would cut me a check for $6k to terminate my lease.
MF: .00003
RV: 55%
36mo / 10k
They said monthly would be in the $500’s. Now, I figured the final selling cost would include the roll in making it $36,000 with the discount which would make my monthly pretty good like under $400/mo.
Am I wrong? Do dealers consider rolling in totally separate from calculation of the car?
Not sure how you are calculating under $400/month. With sales price of $36k, depreciation costs over 36 months is already over $388/month not including rent charges, tax, acquisition and DMV fees.
The calculator cannot handle your lease write off of $6k. Those are the total payments and too many other factors to know what this is worth.
So enter all the information into the calculator without this $6k. Once you get everything settled, $400/mo would probably be where you would be at for a Maxima of $40k with $0 down.
The $6k is going to hurt because that will at least be $167/mo ($6k/36) + interest + tax which may be closer to $200/mo.
At the end, you payment will probably be over $600/mo because the dealer is not going to give you $6k for free.
Why don’t you try leaseTrader or such, just to minimize your 6k upsidownness, don’t know your situation of course, but rolling either finance or lease payments into new vehicle is not advisable.
I had a similar issue on my Cruze. The original contract ended up with a negative depreciation. The bank rejected it and they redid the contract like yours and the customer cash went up. I got an explanation that the dealer ate the difference. They said they eat small differences all the time as it isn’t worth chasing for $90 (in my case).
By the way, after I got the Cruze, I got a Volt and now I have my ‘Japanese lease’ on swapalease (as of today). Needless to say, Chevy will save me tons of cash in the next 3 years!
