Putnam/Premier Spreadsheet

Lease companies don't give purchase prices. They'll give you an end of lease residual value

What specifically do you want to see?

Throw them figures of interest to you and they'll generate a sheet for you.

Remember that costs change and interest rates have risen. So, what they did for someone else would not be applicable to you.

 

You can assume that a lease is now at about 9% interest rate plus the lease company's overhead expenses.

The lease company does not hold the paper. They are like a mortgage broker. They get an upfront fee for placing the lease and then a monthly residual for the life of the lease.

If you did the numbers and kept a lease to maturity it would probably equate to an overall 15%+ rate.

So, work a figure at about these numbers and you'll get a very good idea of what it costs.

I had a few numbers run for me about 1.5 years ago but chose not to go with that. I may still have the files, but I have to check.

 

I am not coming up with types of numbers at all... For instance a 2002 360 spider for $159,000 10% down. $2200 per month for 36 months. purchase when done at (Residual) $80,000.00 (est. $16000 interest over a 36 month period on a $143,000 loan works out to under 7.00%) because the same scenario for a $143,000 loan 72 month simple interest loan at 7% the payment is $2400.

Good luck , personally I would go with Simple interest loan because there are no start up fees ($500-$1000) and early termination fees. With an exotic like a 360 spider you have equity within a year or with 10% down you have equity instantly.

 

Multiply the monthly payment X's the # of payments.

Take this total and subtract from the original vehicle price.

Take that figure and add it to the residual and then subtract the the original vehicle price.

Tell me if that does not come up to nearly 15% per year!

I don't know of any lease company that is sufficiently benevolent to give a 7% interest figure on a lease!

 

This sounds too good to be true, but I'll go over the #'s again as soon as I have a chance.