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Prices Paid: Buying & Leasing Experiences Hyundai Genesis Lease Questions
244 messages, Last post on Nov 24, 2009 at 7:38 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: jjones (Aug 04, 2009 4:39 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Car_Man, I didn't talk price to the sales manager the car stickered for $40150.00 and all I was interested in was my down payment and monthly payment. The deal they gave me was $525.00 down which included my 1st month payment tax, title, etc and 35 more lease payments of $525.00 including sales tax. The lease is for 15000 miles per year. I did talk them into putting the wing badge kit on the wheels and trunk as part of the deal they said that the badge package was a $400.00 plus option. I have given them a deposit of $525.00 while they get the car from another dealer but I have not seen any of the lease paper work to know the selling price, money factor, etc. I won't see that until they get the car and I'm ready to take it home. The sales tax rate in my county is %6.75 Thanks for any advice you can give me.
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Replying to: jjones (Aug 05, 2009 9:14 am) |
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kingpcqeek, I would think that Car_Man or someone out there could say if they thought this was a good deal based on the sticker price and the monthly lease payments I would be paying for the 36 months and 15000 miles. I was hoping someone could tell me what their money down and monthly payment and mileage was so I could compare before I sign my lease. Thanks if you or someone could give me some input. jjjones
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Replying to: jjones (Aug 05, 2009 1:14 pm) Having read hundreds of posts from Car_Man I can tell you he will not tell you if it is a good deal without knowing the selling price. It would behoove you to find out the selling price and its relation to invoice. MSRP is a worthless number now days except for calculating the residual of a car. |
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Replying to: jjones (Aug 05, 2009 1:14 pm) |
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Replying to: jjones (Aug 05, 2009 1:14 pm) MSRP.....................................$40,150 Residual..................................$18,469 (46% of MSRP) Capitalized cost.......................$36,269 (90.3% of MSRP or $1,900 below invoice*) Money factor............................0.00019 (4.46% APR) Lease term...............................36 months Based upon the above, the monthly payment would be approximately $507 (not including taxes and other fees) Calculations assume an ordinary annuity but lease type arrangements normally use annuity due, which would be slightly higher. I hope this helps.
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Replying to: bwia (Aug 07, 2009 10:39 am) I get 505 with a MF of .00019. I get $598 with 4.46% interest
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Replying to: kingpcgeek (Aug 07, 2009 2:45 pm) My bad, that should have been 4.56%
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Replying to: bwia (Aug 07, 2009 3:27 pm) .00019 x 2400 = .456 |
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