Don't know much about leasing, have been told never to do one.So, what is the reasoning for leasing??Ability to drive a car that cost more than what you can afford to buy???Don't want the hassle of selling it???To get a 'new' car every 4 years???
David, just curious, not trying to be a smart a$$. Perhaps it's somethign I should consider since we do trade every 4 to 5 years.
If it's a payment deal.$527 will BUY you
$23,111 car @ 4.5% for 48 months$28,268 car @ 4.5% for 60 months$33,199 car @ 4.5% for 72 months
$25,040 car @ .5% for 48 months$31,222 car @ .5% for 60 months$37,373 car @ .5% for 72 months
Went to carsdirect.com and that has a MSRP of 45K
Also, my credit union has some pretty quick calculatorshttp://
www.truliantfcu.org/pag...ators
Also, when I go shopping for cars, I normally get pre-approved thru my credit union for a certain rate for a certain number of months up to a certain limit.
So, I find out what it cost to finance $1000 for those terms. Then, I take the negotiated price divide by 1000 and multiply by my number......
example:approved for up to $35,000 at 4.5% for 72 months.Go to the calculator above at the credit union, plug in 1000 at 4.5% for 72 months and get $15.87 per month. So, I now know the car will cost me $15.87 per month per $1000
So, I find a car that's going to cost me $32,000 out the door....
($32,000 / 1000) * $15.87 = $507.84
Sometimes I take my computer that has a spreadsheet that does all of the calculations of the deal. That way, I can see how putting more down will effect the monthly payment.If you decide to buy and need a spreadsheet, let me know.