Lease rates
#41
#42
I've looked at Penfed saver loan. It seems to work well if you intend to make the balloon payment. With interest rates as low as they are, if you were to refinance in 3 years interest rates will not likely be as favorable. Residual value may not be able to cover the cost of taxes if you intend to sell.
if you do a quick comparison and some of this has been highlighted
1. Lease on a base Ftype 70,000
a) standard 10,000 over 3 years
b) residual 66%???
c) 4,296 additional out of pocket + 700 monthly payments 843 monthly payment
d) interest rate ~2.4%
e) disposition / dealer fees $XXX
2) Penfed auto saver
a) standard 15,000 over 3 years
b) residual value 59%
c) monthly payment 794.07
d) interest rate 1.74%
e) no disposition fee
difference over 3 years is about 1700, should more than make up the tax in high tax states.
i think wehen you calculate the actual cost of ownership, the penfeld will come out cheapers - particularly the fact that you have a 12,000- 15,000 mile limit vs only 10,000 . I drive my current car about 11K a year and at .30cents a mile, that's an additional $900 i would be paying at the end of the lease.
#43
I was only pointing out that if you intend to keep the car and want to finance the balloon payment interest rates may not be as favorable for a car loan which are almost free currently . I was thinking more along the lines of an R and New York State taxes. The no mileage limit of pensaver is attractive. It is an option to consider. If you intend to own and make a balloon payment, this is attractive also. Seems like in your model it makes sense vs a lease.
Last edited by jaguny; 06-04-2015 at 07:10 PM.
#44
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