Got a lease quote - is this reasonable?
12-29-2007, 08:41 PM
#1
Rennlist Member
Thread Starter
Got a lease quote - is this reasonable?
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?
12-29-2007, 09:09 PM
#2
Rennlist Member
Thread Starter
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
01-01-2008, 11:21 PM
#4
Rennlist Member
Thread Starter
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
