| kencivic |
Here are some numbers I was quoted yesterday for 2008 MDX tech with roof rack, mats, paint sealent, wheel locks
MSRP $45,019
cap cost $43,330
36 mth 15k miles/yr
money factor 00325
residual 59%
$1544 down
$718.67 month
The money factor and cap costsseems high I have strong credit.
Please let me know what you think?
Thanks |
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| kencivic |
| Does anyone have any information that would help here? Thanks |
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| JeffK |
Something is not right:
If you go to http://www.leaseguide.com/calc.htm and use MSRP $45019, cap cost of 43330, money factor of .0035 (8.4%) and residual of 59%, 36 months, monthly payment is $710. This is without any down payment. But you did not say what your down payment represents: Is the down payment first month, bank fee and taxes or cap cost reduction?
Here is what may be happening:
The extras, roof rack, paint sealant and wheel locks are dealer extras and as such are not residualized: You are paying their full cost, not 59%, in the lease.
BTW paint sealant is worthless and doubly so when you lease as at the end of 36 months you are turning in your car.
Make sure you actually need the roof rack as I believe this is a $795 option.
Not sure why you need the wheel locks.
Check other threads to see what the invoice is on the Tech. Most are paying $500 to $1000 above invoice.
Finally check my prior posts on leasing and you you will see why you should put down as little as possible, including in the lease payment the bank fee, taxes, etc.
I would also check the money factor which does seem high. To convert money factor into interest rate multiply by 24.
Hope this helps.
JeffK |
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