A Dealer offered me this… anyone of you can help? My credit score ranges 760 - 790 depending on which credit company u look at. The dealer is in SoCal. I feel the Money Factor is a bit high… or I could be wrong… 0.002 (4.8%)…
MSRP is $94,600, selling price $85,000. Total Cap Cost is $85,080
MF is 0.00200, Residual 65%, term 24 months. If you cover just drive off, no capReduction. $3,272 due at signing, your payment is $1,276 a month + tax, 1397 includes tax.
The dealer didn’t specify the mileage per year I can drive… I emailed him but he had yet to get back to me. Lets say the mileage is 7,500 miles per year, is it even worth it?
Thank you guys.
It’s great.
As long as you’re cool with paying almost $37k to drive a car for 2 years.
I would get a breakdown of the drive off, it seems a little on the higher side.
I have another dealer offers me 36 mo. / 58% residual / MF 0.002 / 10K miles per annual / $5000 down, + $3572 drives off.
Total per month $1,130.79 + tax
I didn’t go with this, because this dealer wanted $5000 down, and higher drive off
You’re conflating language.
Drive off = the amount you give a dealer when you leave. It is inclusive of “down payment”
Thank you. I am still waiting for his reply. I wanted to know too what is included there.
Hmm… did I get something wrong from this dealer? This is what he told me…
“With $5,000 down your Cap Cost Reduction is $5,000, money factor of 0.00200, with a 58% residual with the 10,000 miles a year for 36 months. Your drive offs are $3,572.23 so for a total of $8,572.23 due at signing your payment is $1,130.79 plus tax.”
There is a lot to unpack here.
Dealer is using jargon that’s over his/her own head.
To be clear and short, anything over tax, title, license, and tax is VERY risky to put down. If car is totaled or stolen, it’s GONE.
Put down the absolute minimum. It makes true cost more clear it’s it much less risky financially.
Ok, thank you.
Will definitely negotiate the down payment if i go with this dealer.
As for the dealer that offers me 24 mo., he told me that deal is for 10K miles each year.
That’s a lot of money for a 330hp sedan.
I would go for the RS7 if you can get a hold of one: $17,500 lease cash on 2018 Audi RS7
Or maybe one of the outgoing 2018 Merc C63 with a big discount.
I do love the Panamera, especially the mk2, but you’d be better off loaning unless you know you won’t want to be driving it in 2 years.
