I’ve got a quick clarification question, not sure where to ask this but was reading through this thread and curious.
When it comes to calculating the residual value, do you take the residual % and multiply that times the MRSP or the final sale price? i.e. if a car has a residual of 70% and the MSRP is 30,000, the residual value would be estimated at 21,000. If you don’t negotiate beyond MSRP, your financing 9,000. However let’s say you negotiate a cap cost of 27,000. Do you Finance the difference between 27k-21k or take 70% of the negotiated price? Would you finance 6,000 or take 70% of negotiated amount and finance $8,100. Thanks for the help! I want to be able to calculate everything by hand myself so I’m trying to figure out the process.
That’s the magic of a heavily discounted vehicle. The residual is always based on msrp and the difference between selling price and residual (plus MF interest, if any) is mostly all you have to pay.
Hey @Cody_Carter, do you know when the '19 CH-Rs or '19 Corolla hatchbacks arrive?
Still debating whether i stick to leasing another luxury car or just go with a more affordable commuter car, since I use my car exclusively for my 16 mile round-trip commute and I walk/Uber for absolutely everything else. But navigation (or at least Car Play) is a must have.
