| Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n |
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05-23-2011, 01:45 PM
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#1
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I contribute to threads in the offtopic forum
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Lease to own rates lower than finance
So I was working a way around getting cheaper finance vs lease to own.
Taking the 2011 HFP accord v6, which is $39,440, lease to own would be cheaper than financing. What i mean by lease to own is not returning the car at the end of the lease.
5 year financing at honda is 3.9%.
If you lease for 2 year at 0.9%, and then finance the buyout for 3 years, which is 1.9%, you are saving 3k in interest.
I hope this is how they calculate the interest when financing the buyout.
Tax for leasing is about $40 more. And on top of that, your month payment won't be as much. Down side is, there is kms restrictions.
I would like someone to confirm if this actually works.
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05-23-2011, 03:58 PM
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#2
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Wunder? Wonder?? Wander???
Join Date: May 2004
Location: Vancouver
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I don't think you can use the new car finance rate after 3 years.
__________________
2009 VW Passat Wagon 2.0t
2011 VW Jetta Comfortline
2010 VW GTI SOLD
2005 BMW 320i SOLD
2001 VW Jetta 1.8t SOLD
2007 VW CityGolf 2.0 SOLD
2006 VW Passat 2.0T RIP
2002 Nissan Altima 2.5SL SOLD
1992 Acura Itegra LS SOLD
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05-23-2011, 04:42 PM
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#3
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Welcome to Planet Power ///M
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you don't need to worry about km restrictions if you're going to buy it out.
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05-23-2011, 10:10 PM
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#4
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Need to Seek Professional Help
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I'm pretty sure that the financing rate when you buy the car out would be the rate at the end of the lease, when you actually decide to buy the car and take out a loan. I doubt you'd be able to get 1.9% to finance a 2 year old car, but I've never looked into it so I wouldn't know for sure.
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05-23-2011, 10:14 PM
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#5
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I only answer to my username, my real name is Irrelevant!
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yeah leasing rates are amazingly low lately and financing on used cars, depending on brand, is also insanely low (audi 0.9%)
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