If you guys don't mind, I'd like to know the below items:

1. Lease or Purchase
2. MSRP - yes or no? Total purchase price?
3. Trade in? If yes, what value?
4. Down payment? If yes, how much?
5. How long financed
6. Monthly payment

 

1. Purchase
2. MSRP - YES $34,495
3. Trade in? - YES $5,400
4. Down payment? - YES $8,000
5. 48mths @ 5.19%
6. $537

 

here, just go here and have fun

www.starone.org use their loan calculator.

have fun

 

1. Purchase
2. MSRP? Yes, $28900
3. Trade-In? Sure, $8000-9000
4. Down Payment? OK, $4000
5. 60 months, assume 7.50% rate
6. Monthly Payment? $329, reduced by $7/month per 100 basis points

 

1. Purchase
2. MSRP - yes Total purchase price - $35,817 ($37,139 w/tax, title, lic.)
3. Trade in? Yes, -$1000, upside down on lease, offset by sales tax savings
4. Down payment? $38,139
5. How long financed - paid cash
6. Monthly payment - $0

 

No thanks...

All I need is my trusty TI BAII calculator... I can calculate the TVM and NPV myself.

 

My calculations tell me that you are paying more than you should?

Unless your TOTAL purchase price did not include tax... If tax is added, your monthly payment is just about right.

 

Ok sorry for the triple post... But these are the calculations I get for my purchase...

$28,900 (Enthusiast with mats and kickplates)
Tax at 7.75% is $2167.50
Total would be $31,067.5
Minus trade in and down payment of $5,500
Minus deposit on pre-order of $500
Equals = $25,067.5

Using TVM calculations with N = 60 (Or 5 years), I/Y = 0.458333 (This is 5.5% financing), PV = $25,067.5, FV = 0, PMT comes out to...

$478.82 per month.

Not bad...

 

BullishZ,

You calculated sales tax at 7.5%. Also, don't forget the DMV registration of a couple hundred bucks!

Dave

 

Yap, you're right. 7.5%... Also, I will remember the BS expenses such as DMV, dealer document fee or whatever.

 

MSRP + TTL - offset taxes = 35893
Trade with -10K on lease (props to Mercedes Benz)
Downpayment 15K
Monthly 3 years @ 6.5 = 946.72

 

Sorry to burst your bubble, but your total out the door price would be higher man. 28,900 MSRP+Tax+Tags+Title+Processing. This is what my reciept had.
Total MSRP 29,500 + Tax of 3% + Tags +Title + Processing + Dealer Tax = 30,618 - 1000 deposit which is 29,618.

And I did this..

29,618
Lease
60months
1000 down included in price.
no trade in.

Monthly Payment: $400.04
And lease isn't bad at all if you decide to buy it at the end, you don't have a mileage restriction if you buy it at the end if you buy at end of lease. And anyways, I have 15,000/year.. Thats a lot of mileage as it is.

 

Qoute

"Sorry to burst your bubble, but your total out the door price would be higher man. 28,900 MSRP+Tax+Tags+Title+Processing. This is what my reciept had.
Total MSRP 29,500 + Tax of 3% + Tags +Title + Processing + Dealer Tax = 30,618 - 1000 deposit which is 29,618.

And I did this..

29,618
Lease
60months
1000 down included in price.
no trade in.

Monthly Payment: $400.04
And lease isn't bad at all if you decide to buy it at the end, you don't have a mileage restriction if you buy it at the end if you buy at end of lease. And anyways, I have 15,000/year.. Thats a lot of mileage as it is."


A 60 month lease, that is a long time. You could own the Z in 60 months at 5% interest for only $158.93 more a month. By leasing at the end of 60 months you've paid $24,000 to rent a car. I'm not knocking you but it seems like a long lease in the end could be more costly.

 

No sales tax credit for trade-in in CA.

 

Hey BullishZ,

I have a ways to go like you before the Z arrives. (my order #W178647 is close to yours) My dealers still thinks a late Oct. ETA is possible. Still trying to sell my 2001 S2000. I can say from the cars I've seen and sat in it will be worth the wait. I'll update when the big day gets here. By the way love the drift and "Go Lakers!"

 

As I posted in the post just above yours, I did recognize the fact that there will be other charges. Just getting a good estimate. Including all fees and titles etc... I should still be under $500 per month for 60 months to OWN the car.

You will pay $400, but the car isn't yours!

 

...just for the heck of it:

2002 Spec-V:

1. Purchase
2. $17,000 (MSRP = $19,200)
3. No trade in -- Spec-V is my first car
4. Down Payment: $10,000
5. 36 months
6. $267/mo.



EDIT: Also, I'm 18 so I own that beast! Am I making practical decisions so far? This is with 9% interest rate and 8% sales tax for San Francisco.

 

Another finance geek. Long live the BAII Plus!!