Lease Payment Question Plz Help !!!

[s420merc]

I am thinking of Leasing the SRT8 300C.
If anyone knows what a good Lease Deal is let me know.
Meaning what residual and money factor and how many months and miles per year.
Just curious what everyone is paying on a Lease and is it worth it vs Buy.
I know most American cars depreciate fast so you get killed with the Residual.
wondering if the SRT-8 is different cause its limited production and if the Lease is subsidesed by DCM.

[IGOTTASRT8]

The lease on this car sucks. I eneded up buying mine because the payment was within $50 of the lease. I'm paying $800 month.

[s420merc]

Yeah prob cause the residual sucks ass
I am going to check it out but if payment and lease is about the same i will finance.

[Driven2WIN]

Originally Posted by s420merc

I am thinking of Leasing the SRT8 300C.
If anyone knows what a good Lease Deal is let me know.
Meaning what residual and money factor and how many months and miles per year.
Just curious what everyone is paying on a Lease and is it worth it vs Buy.
I know most American cars depreciate fast so you get killed with the Residual.
wondering if the SRT-8 is different cause its limited production and if the Lease is subsidesed by DCM.

Leasing is a good way to go if you get a looooow payment. Unfortunately, with the SRT-8, your payment is just as good if you finance it. I got a 5.5% interest rate at my Credit Union for 72 months. The payment was approximately the same either way.

Then I asked the CU what my payoff would be at the end of 36 months. My payoff would be about what the residual value would be on a lease. So if the insurance company (residual values are generally insured) is willing to risk the payoff, this means that the payoff is probably fairly accurate. What this also means is that I will not be "upside down" at the end of 36 months of a 72 month loan with putting on 15,000 miles per year.

Now, if I leased and I decided to keep the car at the end of the lease, I will have to pay sales tax on the purchase amount (in Florida). If I purchase the car, I pay the sales tax up front. This means that for me, at the end of 36 months, my cost to continue to keep the car is actually less.

Finally, if I decided to get rid of the car before the end of the lease term, I would owe a percentage of the contracted balance of payments to the leasing company right then and there. But, with my financing, if I decided to sell it next year, I will have been paying it down with a simple interest loan. I may be upside down but it seems that the values of these SRT-8s have been holding up well.

I opted for a purchase.

[330toSRT8]

A great deal on a lease for this car would be $650 per month for 36 months and 15,000 miles per year. My friend was able to get that payment with the same months and miles on a 2004 BMW Z4 3.0 with an MSRP of $46k. Obviously, it's a completely different vehicle that is much more readily available, but I wouldn't even consider leasing unless my payment was around $650.
I financed for 60 months at $770/month with 5.0%. That was with a down payment around $6k.

[s420merc]

I am leasing my BMW for $510.00 a month for a 45k car. SO each car company lease is different i am just wondering if anyone knows the Money Factor and Residual that DMC uses for the SRT8. I only need about 10-12k a year just want to get a lower payment right now cause my buisness needs all the extra $$$$$'s i can put into it right now.

[II kings 9:20]

I leased my $46K X5 for 595/month. IMO all blocks of steel in this price range should lease for about the same, residual, money factor, etc. determine if the deal is good. If the deal is not good, walk away, the worst you can do is keep your money.

[artichoke]

Originally Posted by s420merc

I am leasing my BMW for $510.00 a month for a 45k car. SO each car company lease is different i am just wondering if anyone knows the Money Factor and Residual that DMC uses for the SRT8. I only need about 10-12k a year just want to get a lower payment right now cause my buisness needs all the extra $$$$$'s i can put into it right now.

You should just complete your lease. Trading cars at a dealer always costs you, and the transaction costs are highest when terminating a lease in midterm. If you weren't on a lease I might advise you to trade down into something cheaper, instead of an SRT-8.

[Steve Desjardins]

Its very hard to get out of lease midterm. It will always cost you.

[s420merc]

You prob misunderstood me, i am keeping my BMW i just want to get an idea of a buy vs Lease. If i can get the SRT8 for about $550-$600 with 0 down. then its worth it vs the Finance which would probwill be in the $800-$900 range.
thats $200-$300 i can put into my buisness and make money on.
If the difference buy-vs-lease will be $100 or less i will buy the car and finance.
My BMW lease is 15k miles a year for 39 months i put 0 down just security and First month and i am paying $528.67 with Tax.
if i would have Financed the Car it would prob be in the $800 range so i am saving money on a depriciating asset.