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07-24-2009, 02:43 AM | #89 | |
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Sorry if these seem like dumb questions, but from what you have said, to me it looks like the novated lease quote is incomplete. |
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07-24-2009, 02:52 AM | #90 | |
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there's no way it can be wholly correct, since the lease payments don't even cover the difference between the residual and the purchase price, and that's before taking interest into account. 56.25% of 68k=$38,250 2x$12836=$25672. $38,250+$25672=63922....... edit: punching some numbers (68k car, 24 months, fully maintained) through a novated lease calculator, I get a monthly cost of about $2525..... Last edited by MickyD; 07-24-2009 at 03:21 AM.. |
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07-24-2009, 05:07 AM | #91 |
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[QUOTE=Taymaishu;5575649]My stats on my quote:
Yearly Sal Sacrifice - 12,836 Lease length: 24 months Residual: 56.25% Monthly Lease cost: $1069.83 Car: 125i Annual KM: 25,000 Micky is right. The numbers don't add up. Take for example - 7.00% interest rate $68,000 amount financed $4,760 interest / yr $9,520 interest over 2yr $38,250.00 Residual $36,720 = car + total interest to be paid back over 2y $18,360 repay /yr over 2 yr $1,530 repay /mth over 2 yr This should be about your monthly repayment at 7% interest This does not include the servicing, fuel etc. Pleaese double check with your financier cos if it is wrong then it will delay your delivery until your finance is in order. |
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07-24-2009, 09:22 AM | #92 | |
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07-24-2009, 06:06 PM | #93 |
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mate - i'd be asking some questions to make sure ... otherwise you will be in for a big surprise when those payments start coming out!
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07-24-2009, 07:59 PM | #94 |
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07-25-2009, 03:46 AM | #95 |
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handy
my previous comment still stands though, about the lease payments not covering the difference between the residual and the purchase price. Just be careful is all I'm saying..... |
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07-25-2009, 05:05 AM | #96 | |
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Good thing is, we have the written quotes, and once the partnership between the leasing company and my employer is signed, they're locked into the quote price, so i'm hoping to have this done on Monday once our financial controller confirms all the questions I have. After the treatment from the dealer's finance manager, this lease company has been very smooth and up-front about things, which i appreciate! |
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07-25-2009, 07:02 PM | #97 |
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so how does this lease company make money?
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07-26-2009, 05:19 AM | #99 |
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Drives: F82 M4 CP
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Private Fleet. 125i - Space Grey - M Sports - Tint - Paint protection - $66K
I got a hold of the dealer directly and he reckons the car won't be made until end of August..............not the right answer, as I had to rush to put the order in by the end of July so that it would be made in the next week or so.....sounds like some fibs got told to get a quick sale.
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07-26-2009, 05:33 AM | #100 | |
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I ordered in late feb, my production was April and delivery was in June. I need to firm up order in early March. I had a late change with Hi-Fi and I was told I just change it in time.
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