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$350 ish.........but more disclosure needed.... Posted by Mike Lynch [Email] (#81) [Profile/Gallery] (more from Mike Lynch) on Thu, 28 Jul 2005 12:41:59 In Reply to: Lease Question, Jim, Wed, 27 Jul 2005 13:54:44 Members do not see ads below this line. - Help Keep This Site Online - Signup |
The 24mos Linear advertised lease has a 57% residual, that's 57% of the MSRP regardless of the final cap cost for an MSRP of $31,140 'bout $17,750.
If you wanna' put $2,000 instead of the advertised $2,999, that's $42 a month more (1,000/24=$42ish), but you didn't say it that way, you said "out of pocket" which is different from the language of the ad which is "due at signing" the difference being what state (and hence state taxes and lease laws) you pocket is in. In SoCal $2,999 = $3,700 ish "out of pocket" or total "drive offs" including the local 7.75% sales tax and 0.8% ish license, $45 doc, $8.75 tire fee and so forth.
I had a $200 more expensive car advertised at $288 under the ad terms, 24mos, 12k, $2,999 due at signing, so divide the amount less cash by the 24 months and add that to the $288.....$1,000 less would be $288 + 42 = $330ish, $1,700 less using your "out of pocket" quote as a guide.
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