Thread: Lease payment
View Single Post
  #3  
Old 05-22-2005, 04:56 PM
H3wannabe H3wannabe is offline
 
Join Date: Mar 2005
Location: Plaistow, NH
Posts: 166
H3wannabe is off the scale
Default

If you read the *, that's just a sample monthly payment (purchase not lease) using these assumptions:

* based on 20% down, 6.5% interest rate, 8% sales tax, 48 months.

Many of of us (including me!) are waiting GM to announce the residual value that will be used. This determines your monthly lease (MSRP minus redsidual divided by # of months you lease + interest).

A 50% or better residual on a 36 month lease is typically considered good in the auto industry. At 36 months, using a base model price ($29, 500), no money down and a 50% residual, payments would be about $410 mo. However, this doesn't include the lease interest rate which will increase your monthly a bit.

Personally, I am hoping for better than a 50% residual.

H3wannabe
__________________
Slate Blue, Lux, Auto, Cashmere Interior and Tow Package.
Reply With Quote