Got a lease quote - is this reasonable?
#1
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Hi all,
Found a CS with a sticker of $67,845 and the current sales price is $61,988. Ok price but not outstanding...
Quoted a residual of 57% based on 36mth/15k mile lease but the problem is the money factor of .00350 which works out to approx. 8.4%. Seems high.
Any suggestions on getting a better rate?
Found a CS with a sticker of $67,845 and the current sales price is $61,988. Ok price but not outstanding...
Quoted a residual of 57% based on 36mth/15k mile lease but the problem is the money factor of .00350 which works out to approx. 8.4%. Seems high.
Any suggestions on getting a better rate?
#2
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Just figured out that the advertised lease program on the porscheusa website is using a .0031 money factor so it looks to me like the dealer is trying to recover some of the price reduction in the lease.... By my calculation it's about $1400 over the life of the lease.
So I've answered my own question - the .00350 rate is not a good rate...
BC
So I've answered my own question - the .00350 rate is not a good rate...
BC
#4
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The money factor is their way of stating the interest rate. If you multiply the money factor by 2400 - this is a rough approximation of the interest rate implicit in the lease.
Thx,
BC
Thx,
BC