Quote:
Originally Posted by RunNgun
They basically gave me the Z for around stock invoice price for a 7 year finance at $480/month. With no down payment, I figure they are putting me around 7% APR to make up for them overpaying on the altima, which is bad since I have outstanding credit. .
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Apparently I have no idea how car buying works.... They are FORCING you to use their financing? or they just gave you a "total package" and you are assuming a 7% APR effective rate based on monthly and what price you think you got the Z for?
"I'm 18 months into a 39 month lease and I want out.... Obviously on the altima I put $4000 down, but I dont want it anymore and I owe 23k left." YOU OWE $23K for 18 more months on a LEASE!? after $4k down? PLease please please say it aint so... Thats like $50k to lease an altima for 39 months? I dont believe it. Leases generally bind you to the term of the lease, not the buyout cost of the car.
Your monthly lease payments on the altima must be like $200-$300. A lease buy out would be $300*18months = $5400
Maybe you got the Z for
$40320 with 0% APR for 7 years..... or
$36451 with 2.9% APR for 7 years (roughly the rate for a 7xx credit score) which is about $7000+ over invoice on a 11 370z base
Looks like they tacked on $5400 remaining lease payments on to a MSRP base 370z and gave you 2.9% APR for 7.
My math could be wrong, I'm not a very smart man, but it looks like you paid for the next 18month of the altima you wont be driving and bought a Z from them.