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Smart Shopper Credit Scores and Vehicle Financing
935 messages, Last post on Jul 28, 2009 at 1:12 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
not sure where to post this, hope its ok, i had got a dodge caliber se (basic,basic model) 2007 when they first came out and had decided to go with a lease. sticker price was 15,000. I had put 3,500 down love the low payment and i do like the car, problem is now my lease is up in march. I know chrysler is not going to offer anymore lease programs and they have sent me a letter to offer me certain "incentives" to turn it in early. my problem is on the lease it says the buyout is around 13,000, which to me is way to high being i already payed 3,500 and plus 27 months at 80.00 a month. what confuses me is on my chrysler financial site the buyout say 11,000. so does anyone know if i can negotatiate the buyout price since i am no longer to lease a different vehicle, or if the actual buyout price normally varies from the lease agreement and chrysler financial. I would like as much info as possible so i know what to say when i go in to negotiate with them, also i would like to know if they are trying to screw me over because the salesman was a tool. sorry for the lengthy post. thank you anyone that can help.
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Does a credit score effect the money factor when leasing a car?
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Replying to: debra824 (Aug 18, 2008 7:53 pm) Reason I ask is because all of your payments total right around $2k. So I'm wondering if the total cap cost wasn't $13k and residual $11k. I don't know what rate you got, but you basically paid $5660 over the life of the lease. Maybe $800 of that was fees. I have no idea if you paid a security deposit. I don't know what your tax rate is, etc. So pretty much impossible to know if you "got screwed." |
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Replying to: holm100 (Aug 19, 2008 8:50 am) same as a finance rate.
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Replying to: qbrozen (Aug 19, 2008 9:27 am) same as a finance rate. Worse than a finance rate actually. |
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Replying to: volvomax (Aug 19, 2008 9:45 am) Unless you mean to say your credit more adversely affects MF than finance rate? Sooo... put simply, if your poor credit score adds 2 points to your finance rate, it may add 4 points to your MF? If that's true, I didn't realize that, and its interesting to know. |
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Replying to: qbrozen (Aug 19, 2008 9:49 am) But, that same bank would offer you a finance rate.
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Replying to: volvomax (Aug 19, 2008 3:30 pm) and good to know (not for myself, but others that ask me for car advice). |
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Replying to: volvomax (Aug 19, 2008 9:45 am)
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