As you may recall from my other thread, I test drove a GTO yesterday, and also had some words with the Internet Sales Manager. Well, I talked to him again this morning and he just faxed me over some lease terms. I don't know too much about leases, other than many people recommend that you lease cars because they depreciate so much.
Anyway, here's all the figures he sent me. I don't know what all of them mean, but maybe some of y'all can help me out. Basically, he gave me the car at the GMS price ($32,729), minus the current $5500 facotry rebate, and $7000 for my trade. Bottom line: $146/month for 36 months.....
GRS CAP COST = 32729
SALES TAX = 385
LAH PREMIUM = 0
CAP REDUCTION = 12500
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NET CAP COST = 20614
ADJ RESIDUAL = 17747.05
TOT TERM DEP = 2866.95
MONTHLY DEP = 79.64
MO LEASE CHG = 57.09
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BASE PAYMENT = 136.73
============================
MONTHLY TAX = 9.57
MO PROP TAX = 0
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TOT MO PYMT = 146.30
TOT OF PYMTS = 5266.8
EST FEES/TERM = 72
TOT TAXES = 1983.40
==========================
1ST PAYMENT = 146.30
CAP RED = 12500
SEC DEPOSIT = 150
-----------------------
TOT INIT PMT = 12796.30
TERM = 36
So, is this a good deal? Can I get a slightly better deal? Any suggestions, please?