| cald |
My friend is getting a quote for a 42mth lease for $380 a month incl tax on a 2004 SL demo with 4,000 miles. Options include Touring Package Dynamic Control, floor mats, splash guards, cargo prot, roof rack and sunroof def.
Any idea how he is doing?
Thanks for your input. |
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| GripperDon |
Consider the milage limit and lease time, not especially good. Go to Google and search "auto lease calculator" and you can see that if you input the "Residual Value and the interest rate" you can see for your self.
The rates are available on the web, if he has a home equity line it should be no more than 4% and the residual can be estimated from similar vehicles using the blue book values. If he does this then he is prepared to discuss the lease with the dealer from a position of knowledge. Good Luck, Don |
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| zebelkhan |
Aside from business reasons for leasing (deductions, depreciations, etc.), according to Edmunds.com website:
If you buy, cost to own for car and finacing will be about $17,826 for 42 months of ownership.
With the lease deal your friend will pay $15,960 for the same period, roughly $2,000 less.
I guess a lot depends on how much he has to pay up front and how many miles he will put on the car during the lease. If he has to pay anything up front and if he exceeds the mileage limit, he can easily "eat up" the savings. If he is not paying anything up front and he is not going to drive past the limit, then he is better off leasing.
http://www.edmunds.com/new/2004/nis...enav..4.Nissan* |
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