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I'm starting to get some lease quotes in from some lenders. Premier Financial is one and Putnam Leasing is the other. I haven't heard from Putnam yet but I'll post my finding on Premier Financial.
First off, THIS IS AN OPEN END LEASE, which means at the end of the lease, you will essentially have to purchase the vehicle (sort of defeats the purpose of leasing, though).
So, here are my quotes for a 36 and 48 month lease based on 7.8% tax. My credit score was not factored in:
36 MONTH LEASE
Purchase Price: $48,600.
Drive off: $2,886.73
Purchase price at end of lease: $24,000
Monthly payment: $947 plus 7.8% tax
48 MONTH LEASE
Purchase Price: $48,600.
Drive off: $2,625.86
Purchase price at end of lease: $20,000.
Monthly payment: $826.00
Personally, I do not plan on going this route because an opened end lease, atleast in my mind, is more of a purchase. Additionaly, even if this is the first round of "negotiating", I cannot see the price coming down to the range I'd expect for a lease (high $500 to $600s a month). And in contrast, I could get 4.25% financing from my credit union, which would be more competitive (high $600s to mid $700s a month).
HOWEVER, I'm just passing along this information to anyone who may find it useful. I imagine if you had a business and could use the lease as a tax write off, then maybe it may make sense.
Lastly, this is a link to their website: http://www.ferrarileasing.com/home.htm
The contact person I've been dealing with is Mitchell Katz and his e-mail i s [email protected] and their contact information is:
Premier Financial Services
47 Sherman Hill Road
Woodbury, CT 06798
203-267-7700
203-267-7773 FAX
www.whynotlease.com (application)
First off, THIS IS AN OPEN END LEASE, which means at the end of the lease, you will essentially have to purchase the vehicle (sort of defeats the purpose of leasing, though).
So, here are my quotes for a 36 and 48 month lease based on 7.8% tax. My credit score was not factored in:
36 MONTH LEASE
Purchase Price: $48,600.
Drive off: $2,886.73
Purchase price at end of lease: $24,000
Monthly payment: $947 plus 7.8% tax
48 MONTH LEASE
Purchase Price: $48,600.
Drive off: $2,625.86
Purchase price at end of lease: $20,000.
Monthly payment: $826.00
Personally, I do not plan on going this route because an opened end lease, atleast in my mind, is more of a purchase. Additionaly, even if this is the first round of "negotiating", I cannot see the price coming down to the range I'd expect for a lease (high $500 to $600s a month). And in contrast, I could get 4.25% financing from my credit union, which would be more competitive (high $600s to mid $700s a month).
HOWEVER, I'm just passing along this information to anyone who may find it useful. I imagine if you had a business and could use the lease as a tax write off, then maybe it may make sense.
Lastly, this is a link to their website: http://www.ferrarileasing.com/home.htm
The contact person I've been dealing with is Mitchell Katz and his e-mail i s [email protected] and their contact information is:
Premier Financial Services
47 Sherman Hill Road
Woodbury, CT 06798
203-267-7700
203-267-7773 FAX
www.whynotlease.com (application)