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Thanks (archive)

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Posted by Chris on June 08, 1999 at 23:07:57:

In Reply to: Soon... posted by Boiler on June 08, 1999 at 22:57:38:

: : : Chris

: I'm planning to next month. Want leaselike payments, low equity in the car, and option to leave it in 3-4 years if I choose. Learned a long time ago to keep my equity in equities, and my options open. Owners choice does this for me. Advantage over a lease is that I won't have to pay Virginia sales tax twice if I decide to keep it. Your state may vary. Also, I believe that the fees are less than on a lease. Given the option to walk away, you should shoot for the highest "residual" value and lowest interest rate. I believe the rates are in the low 8% range, but haven't checked in the last month. Also think that the residual is about 65% of MSRP for a 36 month and 54% for 48 month. Anything you can get off the MSRP (or put as down payment) lowers your monthly payment but doesn't affect teh residual.

: If you can afford the car at your age, you may already know all this. If you need more info, however, feel free to email me direct.

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