| Author |
Message |
TomD (Tifosi)
Intermediate Member
Username: Tifosi
Post Number: 2186
Registered: 9-2001
| | Posted on Monday, January 06, 2003 - 10:55 am: | |
my bad, I was tranposing the number in my calc - damn I am still preoccupied with that giant loss |
Jonathan Peck (Jonathanp)
New member
Username: Jonathanp
Post Number: 31
Registered: 7-2002
| | Posted on Monday, January 06, 2003 - 10:53 am: | |
The money factor for your lease is better than you will get with Putnam or Premier. When you figure in the higher interest you will pay with Putnam or Premier compared to the lower residual with Chase, you're better off with Chase. The lower residual will also allow easier trade out if you ever want to trade it before the lease is up.
BTW: Money factor times 2400 will give you your interest rate (.00260 x 2400 = 6.24%) Not bad for an exotic......
Chase might give you a higher residual if you agree to 5K or 8K miles per year.
Give me a call if you would like any help, I am in the leasing business.....
Jonathan Peck
214-289-8915
|
TomD (Tifosi)
Intermediate Member
Username: Tifosi
Post Number: 2185
Registered: 9-2001
| | Posted on Monday, January 06, 2003 - 9:52 am: | |
the other thing you could do if this is your business is have the company lend you the money at 7-8% and buy the car and sell it in three years - this way no fees etc - obviously some other issues though |
TomD (Tifosi)
Intermediate Member
Username: Tifosi
Post Number: 2184
Registered: 9-2001
| | Posted on Monday, January 06, 2003 - 9:50 am: | |
ok, sounds like you are on the right track. The only other issue I see is the 10% rate. This seems a little high. I would think you can get them at an 8-9% money factor. Try these guys. I have no knowledge of them - I came accross them on the web
http://www.amazonleasing.com/ |
Scott A. B. Collins (Scott)
Junior Member
Username: Scott
Post Number: 104
Registered: 6-2001
| | Posted on Monday, January 06, 2003 - 9:41 am: | |
Tom--no, but the dealer and I have already discussed a substantial discount from sticker--I understand that the lower I get the purchase price and the higher I get the residual the better off I am. That's why I am trying to find names of alternative companies that might have a higher residual--with Chase it is non-negotiable. |
TomD (Tifosi)
Intermediate Member
Username: Tifosi
Post Number: 2180
Registered: 9-2001
| | Posted on Monday, January 06, 2003 - 6:26 am: | |
Do you know the purchase price? Remember, leasing is really no diff than buying in this regard |
Scott A. B. Collins (Scott)
Junior Member
Username: Scott
Post Number: 103
Registered: 6-2001
| | Posted on Sunday, January 05, 2003 - 10:57 pm: | |
Forgot to post--as the first post stated, this is a Chase Financial Services deal. Maserati offers no direct financing deals/incentives.
I wonder if that's gonna changes as dealer sbegin to have to sell cars at under invoice (not sticker, invoice) to move cars? |
Scott A. B. Collins (Scott)
Junior Member
Username: Scott
Post Number: 102
Registered: 6-2001
| | Posted on Sunday, January 05, 2003 - 10:49 pm: | |
Yes--this is a new car, and it is a "dealer's deal". The residual (while probably accurate/optomistic) still sucks relative to Porsche (similar terms, 59% resid) and BMW (similar terms, 61% resid). I was hoping some independent leasing business would be more optomistic (crazy?) regarding the residual value. |
stu cordova (Balataboy)
Member
Username: Balataboy
Post Number: 346
Registered: 4-2001
| | Posted on Sunday, January 05, 2003 - 10:26 pm: | |
Is this for a brand new Maserati, or a used one? If new, I would think that Maserati/Ferrari financing would be your best source for leasing. The maker usually offers the most aggressive rates/residuals.
For used, it's anybodys guess - requires much shopping around for the best combo of resid/$factor. |
bruce wellington (Bws88tr)
Intermediate Member
Username: Bws88tr
Post Number: 1433
Registered: 4-2002
| | Posted on Sunday, January 05, 2003 - 7:30 pm: | |
scott
careful about business leases with exotics.....you dont want mr irs knocking at your door....
ive been there...
bruce |
TomD (Tifosi)
Intermediate Member
Username: Tifosi
Post Number: 2174
Registered: 9-2001
| | Posted on Sunday, January 05, 2003 - 7:28 pm: | |
10% is a high rate, masers have to be hard to lease since there is no info/history really on residuals they are prob being consewrviative in their favor. One piece of info that is missing is the purchase price - that is the price the dealer is selling to the leasing co. I need that to eval |
Scott A. B. Collins (Scott)
Junior Member
Username: Scott
Post Number: 101
Registered: 6-2001
| | Posted on Sunday, January 05, 2003 - 1:37 pm: | |
So I am thinking about replacing my daily driver M3 with a Maserati. This is a business lease. The issue is finding a company that has a decent residual value (i'm assuming that the money factors won't be all that different). Chase currently has a program through franchised dealers--on the Spider Cambiocorsa the deal is:
10K miles/year
36 months
53,000 residual
.00260 money factor
I definitely don't want a "lease to purchase" which is what I think Putnam and Premier specialize in. I figure I will want to walk away from this car when the lease expires.
Does anyone have any leads, contacts, etc. as to other folks to check with? |