With my negative equity, $3600, my actual payment is $449 (for the 1% folks - still right there) - sure not great but still very good IMO (LH score 8.7):
To add more perspective to the deal. They gave me $1200 more for my car than Carvana offered. The registration for it was due in a month ($530), and it needed new tires within 4 months. So, you can think of my effective DAS as $0 (besides MSDs) if you consider I was about to have to pay out $750 for tires and $530 for the registration. I only did 4 MSDs because I wanted to stay at $3000 out of pocket. Also 4 MSD offered a slightly higher ROI of 28% vs 27.4% with 7 .
this forum has made me more financially aware even beyond leasing.
you would have saved $1500 if you had put the $1800 into the lease you rolled in and done no MSD;
I guess it depends how you look at it. Unless I’m thinking about this wrong, if I would have done $1800 towards the negative I rolled in and then the $1250 drive-off, that’s $3000 I’m not getting back so with your calculator link $406+($3000/36) = $489/mo. With the way I did it, it’s $449+($1250/36) = $483/month.
But it’s still a great deal!!!
Thanks! I learned a lot on here, and it has allowed me to recover fairly well from my previously terrible deal.
Yeah, so what I am saying is: if I did that the real cost of my lease would be the total cost of the lease from the calculator link you posted, $15316, plus the $1800 I sent to my previous lease, which is a total of $17116. The deal I signed was $16868
can you please let me know how did the college graduate credit work? Did you have that approved in advance or did the approval come at the end once you were with the finance person? did you just bring diploma at the time of signing? any details would be great