Leasing 370z offer

somatic · 11-04-2011, 10:52 AM

Quote:

Originally Posted by RunNgun

The nicer they seem, they harder they are going to try screw you. It's all just an act, and they are NOT your friend.

with internet, that's not always true. internet guys get paid more off volume usually. i know that i have had volume bonus bigger than floor salesmen at my last three dealerships, because internet guys are expected to make less profit.

GraphiteZ · 11-09-2011, 01:59 PM

Thay are basically charging you 15% APR

on your lease. You are basically paying more than $4k of interest in 39 months. I've never leased a car before. Is that normal?

somatic · 11-09-2011, 02:09 PM

Quote:

Originally Posted by GraphiteZ

Thay are basically charging you 17% APR

on your lease. You are basically paying more than $4.5k of interest in 39 months. I've never leased a car before. Is that normal?

....where on earthe do you see that?

the Money factor is .00210, there isnt an APR on leases lol

GraphiteZ · 11-09-2011, 02:22 PM

Quote:

Originally Posted by somatic

....where on earthe do you see that?

the Money factor is .00210, there isnt an APR on leases lol

It is actually 15%. I don't quite understand how the money factor work.

Here is how I got my number.
Total cost of the car: 31,151+1,967+699+298 = 34,115
Residual of the car after 39 months = 18,984
That means the total depreciation of the car is 15,131

The deal requires him to pay 496 x 39 = 19,344

That means total interest in this deal is 4,213
With an Excel spreadsheet, that is 15.46% APR

Did I do it correctly?

PasswordJDM · 11-09-2011, 02:40 PM

Quote:

Originally Posted by GraphiteZ

It is actually 15%. I don't quite understand how the money factor work.

Here is how I got my number.
Total cost of the car: 31,151+1,967+699+298 = 34,115
Residual of the car after 39 months = 18,984
That means the total depreciation of the car is 15,131

The deal requires him to pay 496 x 39 = 19,344

That means total interest in this deal is 4,213
With an Excel spreadsheet, that is 15.46% APR

Did I do it correctly?

Interest Rate = Money Factor x 2400

So MF of .00210 = 5.04% Interest Rate

somatic · 11-09-2011, 02:40 PM

Quote:

Originally Posted by GraphiteZ

It is actually 15%. I don't quite understand how the money factor work.

Here is how I got my number.
Total cost of the car: 31,151+1,967+699+298 = 34,115
Residual of the car after 39 months = 18,984
That means the total depreciation of the car is 15,131

The deal requires him to pay 496 x 39 = 19,344

That means total interest in this deal is 4,213
With an Excel spreadsheet, that is 15.46% APR

Did I do it correctly?

youre not accounting for projected mileage

somatic · 11-09-2011, 02:41 PM

Quote:

Originally Posted by PasswordJDM

This is how you calculate what the money factor is equal to in interest rate

Interest Rate = Money Factor x 2400

GraphiteZ · 11-09-2011, 03:00 PM

Quote:

Originally Posted by somatic

youre not accounting for projected mileage

Is that the 12000 miles / year?

somatic · 11-09-2011, 03:16 PM

Quote:

Originally Posted by GraphiteZ

Is that the 12000 miles / year?

should be

NickTurnon · 11-09-2011, 03:16 PM

I got my Base 09 for around 28k at a dealer. Used. You should be able to work and get the price under 30k. Keep in mind they markup a about 1400 worth of zantek paint, etc.. that price can be dropped to as little as $300 if you negotiate. Also you can get better deals on financing etc...

You just gotta do some research on what other people did and how they got their pricing

LakeShow · 11-09-2011, 03:22 PM

Honestly man the Z is just not the car you lease. It's one of those cars you either buy or you don't. Your leasing a base model for nearly 500$ month essentially paying nearly or more than half the car. You might as well finance and pay 2 extra years and you own the car.

somatic · 11-09-2011, 03:37 PM

Quote:

Originally Posted by LakeShow

Honestly man the Z is just not the car you lease. It's one of those cars you either buy or you don't. Your leasing a base model for nearly 500$ month essentially paying nearly or more than half the car. You might as well finance and pay 2 extra years and you own the car.

some cars it just doesnt make sense to lease, unless you're trying to get rid of negative equity.

GraphiteZ · 11-09-2011, 03:38 PM

Quote:

Originally Posted by somatic

should be

I think the residual value of $18,984 has already accounted for the 36k miles projected miles by the time the lease end. Think about it this way, $18,984 is more like the price for a 3-year-old Z with 36k miles, than a 3-year-old Z with 0 mile.

Money factor is more like a sugar coated number. At the end of the day, he will be paying $4,000 of interest in 39 months. That doesn't look like 5% to me.

somatic · 11-09-2011, 04:07 PM

Quote:

Originally Posted by GraphiteZ

I think the residual value of $18,984 has already accounted for the 36k miles projected miles by the time the lease end. Think about it this way, $18,984 is more like the price for a 3-year-old Z with 36k miles, than a 3-year-old Z with 0 mile.

Money factor is more like a sugar coated number. At the end of the day, he will be paying $4,000 of interest in 39 months. That doesn't look like 5% to me.

dont forget, hes also rolling in his taxes and fees, almost $3000 right there

PapoZalsa · 11-09-2011, 04:18 PM

Quote:

Originally Posted by Kurofox23

SOOO. Im about to buy the base model. I found a used one with 1k miles on it. The car is going to be 30k and originally they were going to take in my cobalt for 5k i got them to 7 ( I owed 8k on it so i had negative equity they had to pay ) Total out the door for everything came out to 34500. I have no idea how people on this forum are getting there 370s for like 32k out the door with sports package because here in florida all the nissan dealers are barely dropping to 30 for the car!

I got mine thru USAA. About $32K OTD Base w/Sport Pkg plus iluminated kick plates. Well it was in 09 but neverless it was new.

11-09-2011, 01:59 PM	#17 (permalink)
GraphiteZ Base Member Join Date: Nov 2010 Location: Northern VA Posts: 96 Drives: 05 Elise and 13 GTI Rep Power: 32	Thay are basically charging you 15% APR on your lease. You are basically paying more than $4k of interest in 39 months. I've never leased a car before. Is that normal? Last edited by GraphiteZ; 11-09-2011 at 02:11 PM.

11-09-2011, 03:22 PM	#26 (permalink)
LakeShow A True Z Fanatic Join Date: Dec 2010 Location: L.I., NY Posts: 5,307 Drives: Everything Rep Power: 25	Honestly man the Z is just not the car you lease. It's one of those cars you either buy or you don't. Your leasing a base model for nearly 500$ month essentially paying nearly or more than half the car. You might as well finance and pay 2 extra years and you own the car. __________________ \|2013 Audi S4\|Ibis White/Black\|S-Tronic P+\| \|2013 370z\|PearlWhite/Persimmon\|Touring/Sport/Nav\|F.I. CBE 18" CF\| \|Sold\|2011 370z\|Gun Metallic\|Touring/Sport/Nav\|

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11-09-2011, 03:16 PM	#25 (permalink)
NickTurnon A True Z Fanatic Join Date: Jul 2011 Location: Scottsdale Age: 33 Posts: 1,636 Drives: 09 BS 7AT 370z Rep Power: 18	I got my Base 09 for around 28k at a dealer. Used. You should be able to work and get the price under 30k. Keep in mind they markup a about 1400 worth of zantek paint, etc.. that price can be dropped to as little as $300 if you negotiate. Also you can get better deals on financing etc... You just gotta do some research on what other people did and how they got their pricing