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Originally Posted by PSNissanFleetMgr
This is precisely why it always makes better financial sense to turn it in and get a new truck. Otherwise you end up paying for the vehicle twice, in effect. Take for example the customer I leased a new Armada to yesterday. The total of the payments they have made so far equal about $30,000. For them to re-finance it and make 48 more payments, it tacks on another $23,088.00. For them, they will have paid $53,000 for that Armada at the end of their refinance contract, and it originally stickered for $40,000. Make sense?
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Awesome advise! Just what I was looking for. I leased a "06 350Z that is up this fall. I love the car and would love to keep it (only 9000 miles) but at 50% residual, 30,000 sticker.....buy at 15,000? I dont think so, I can lease a new '09, and pay less over the long run. Down side is I dont have MY car that I fell in love with, but hey, still have my "07 KC off road" Which I bought, not leased.