Hi Guys,

I'm the guy with the test drive thread. I did test drive the car and it is awesome.

After the test drive the sales manager mentioned that you can do a 48 month lease with $700 out of pocket for $339 month for 48 months.

I have seen some lease stuff on here but no one seems to have definitively defined this lease.

Does anyone know the actual numbers for this lease?

I'm assuming the reason for only $700 out of pocket is the $1500 rebate I've seen mentioned.

Any info would be appreciated.

Thanks!

-Argh

 

There are many variables in a lease - you can't just compare down-payment and monthly installment for a given term without also knowing the capitalized cost (how much you're actually "borrowing"), the residual amount (how much the car is expected to be worth at the end of the lease), and the money factor ("interest rate").

You can work out any one of those numbers given all the others, but with only the numbers you've been given, there's no way to know if you're getting a good deal.

Once you have the full details, you can feed them into the calculator at leaseguide.com to see if they add up.

 

What's the residual you guys got?

 

Mine was 56% on a 39-month lease.

 

Mine had a 45% residual on 48 month lease. This is a little lower than most leases, but I got a very good rate due to my good credit history, plus $1,500 lease rebate and $500 college grad rebate. And the lower residual makes it cheaper to buy the car at the end of the lease if I decide to.

I only paid first payment and license fees up front, my lease payment is $347/month for an automatic w/ sport package.