1999-2009 [Subscribe to Daily Digest] |
1) 2,999 down for a 48 mo lease at 5-6% is $70/mo. Or said another way, all other things being equal, you could lower your lease pmt by $70 a mo. for 48 mo. by putting another $3k down.
2) the lease payment is a function of three things a) the int rate, b) the present value of residual at end of lease ie.., what is the residual in 4 years worth in todays dollars, c) the sale price.
Effectively, you are borrowing the difference between the sale price and present value of the residual, at some interest rate.
So, if you negotiate a $30k sale price, and the residual at the end of lease is $15, and the int. rate is 5%, the present value of the residual is $12.3. You are borrowing 17.7 (30-12.3), to be paid out over 48 mo at 5% (just a nuance, but the 1st pmt is made up front, so it's all principal. Technically, you are borrowing a slightly lower amount for 47 months). If you put anything down, including a trade-in, that reduces the amount you are borrowing.
The residual is typically expressed as a % of sticker, and doesn't change based on the negotiated sale price. You can't negotiate the residual - it's set by the finance company. Sometimes a different term will have a strangely different residual (that's how you sometimes see these 30 or 39 mo. leases) but the dealer cannot adjust that #. The only thing you can negotiate is the sale price, and from the looks of it, you did.
3) when they say in an ad "based on a price of...", you have no clue as to how they are classifying the various GM/Saab incentives. They are likely classifying it as part of the "downpayment," to make it seem like a bargain, whereas you have classified the GM incentive as a reduction of the "sale price." Same difference, but their way sounds like a bigger bargain. And, on their forms, I think they actually show the incentives as part of the downpayment. So you can't go by that.
What you need to know are 1) What's the price diff. between an Aero stick & the ARC (I am guessing not much) 2) what's the residual diff between the two - I am guessing the ARC has a higher residual because automatics are easier to sell than sticks (I know, many will disagree). Regardless, the residual's are bound to similar. Finally, taxes are diff. from state to state - in some they are added to each payment, in others you have choices. I don't know how the NY balloons work, but I don't think they are conceptually different, except with regard to sales tax.
Either way, I think the price is good. And it's a great car. good luck.
posted by 155.201.3...
No Site Registration is Required to Post - Site Membership is optional (Member Features List), but helps to keep the site online
for all Saabers. If the site helps you, please consider helping the site by becoming a member.
 |
 |
 |
 |
 |
