Did I do good on this deal?

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Jan 8, 2006 | 07:24 PM
  #1  
Hey guys, just picked up an 05' 6MT Sedan a week ago. It has the sunroof package and ofcourse the sports package that comes with all 6MT's. I leased it, here are the the terms.

36 Months
$1600 total out of pocket, including 1st month.
!5,000 miles a year
Monthly payments: $373 + tax for a total of $399 a month.

Did I do myself proud or flounder on this deal? Thanks.

-Andy
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Jan 8, 2006 | 09:10 PM
  #2  
How can you not know whether or not you got a good deal before you put down the cash?

Once the interest rate and price you've negotiated for the car (relative to invoice) is set, the monthly payments versus out of pocket are free to play with.
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Jan 8, 2006 | 10:48 PM
  #3  
id say you did really good, as with my coupe i have $4000 down and i am at $450/month including tax
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Jan 12, 2006 | 01:41 AM
  #4  
i just drove a bucket til i could buy mine cash...
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Jan 12, 2006 | 03:40 AM
  #5  
Quote: Hey guys, just picked up an 05' 6MT Sedan a week ago. It has the sunroof package and ofcourse the sports package that comes with all 6MT's. I leased it, here are the the terms.

36 Months
$1600 total out of pocket, including 1st month.
!5,000 miles a year
Monthly payments: $373 + tax for a total of $399 a month.

Did I do myself proud or flounder on this deal? Thanks.

-Andy
What's the residual (58% like my '06 with 15,000 per year?), the money factor (0.00215, maybe less?), and your sales tax rate? I can tell you exactly what price you essentially paid over invoice.
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