Can this possibly be right?

[BacktoHyundaibychoice]

With my 27 month lease expiring in November, I took a look at Edmunds for some idea of the car's value. They show a $29,500 "Trade In" price and about $33K Dealer Retail. Private party is somewhere in between.

Yet when I looked at my contract this morning, my purchase price is $23,500. Is it really possible that I have $6K in positive equity?

If so, that's sure gonna make my next Genny cheap. Or put me in the Equus for sure...

(Or more likely, I'm "missing something".)

Thx.

 

[TNTitan]

With my 27 month lease expiring in November, I took a look at Edmunds for some idea of the car's value. They show a $29,500 "Trade In" price and about $33K Dealer Retail. Private party is somewhere in between.

Yet when I looked at my contract this morning, my purchase price is $23,500. Is it really possible that I have $6K in positive equity?

If so, that's sure gonna make my next Genny cheap. Or put me in the Equus for sure...

(Or more likely, I'm "missing something".)

Thx.

You bought a 2009 4.6 2 years ago for $23,500?????

Are you sure thats not your purchase price AFTER trade-in or down-payment?

 

[BacktoHyundaibychoice]

You bought a 2009 4.6 2 years ago for $23,500?????

Are you sure thats not your purchase price AFTER trade-in or down-payment?

It's my "end of lease" purchase price. In other words, if I want to buy THIS car in 3 months (instead of walking away), I have to pay $23,500.

 

[bradyb]

With my 27 month lease expiring in November, I took a look at Edmunds for some idea of the car's value. They show a $29,500 "Trade In" price and about $33K Dealer Retail. Private party is somewhere in between.

Yet when I looked at my contract this morning, my purchase price is $23,500. Is it really possible that I have $6K in positive equity?

If so, that's sure gonna make my next Genny cheap. Or put me in the Equus for sure...

(Or more likely, I'm "missing something".)

Thx.

refinanced my '09 4.6 i bought 38k out the door and kbb retail is still 45k, that being said having sooo much "equity" in the car i got a better rate!

 

[VIPISM]

how much did you pay a month on the lease ?

With my 27 month lease expiring in November, I took a look at Edmunds for some idea of the car's value. They show a $29,500 "Trade In" price and about $33K Dealer Retail. Private party is somewhere in between.

Yet when I looked at my contract this morning, my purchase price is $23,500. Is it really possible that I have $6K in positive equity?

If so, that's sure gonna make my next Genny cheap. Or put me in the Equus for sure...

(Or more likely, I'm "missing something".)

Thx.

 

[BacktoHyundaibychoice]

how much did you pay a month on the lease ?

$39,100 (+ TTL)
$2500 down
$605/month/27 months ($16,335)

 

[sandy]

You will only know when a dealer gives you a "real world" trade-in number.

 

[CapoCriminali]

No, that's his purchase price after lease - the price * residual (or residual % of price)... 2009s were at a residual of between 62% and 47% (depending on lease terms, model, options, etc)... so a 4.6 @ 43,500 with a 50-something% residual could very well be 23.5k "buy-out" price at the end of your lease. With 28-29k of trade value, that sounds like 6k off your next car! Congrats on the winning the lease game

 

[BacktoHyundaibychoice]

No, that's his purchase price after lease - the price * residual (or residual % of price)... 2009s were at a residual of between 62% and 47% (depending on lease terms, model, options, etc)... so a 4.6 @ 43,500 with a 50-something% residual could very well be 23.5k "buy-out" price at the end of your lease. With 28-29k of trade value, that sounds like 6k off your next car! Congrats on the winning the lease game

Holy crap! The 4th time's the charm!!!

Daydreaming:
Equus with MSRP of $55K (who the hell knows?) with Circle Pricing of 2 1/2% below invoice (who the hell knows?) with a $1500 rebate (who the hell knows?) AND a $6K trade? I think that's my next car!
(Daydreaming, remember?)

 

[BacktoHyundaibychoice]

You will only know when a dealer gives you a "real world" trade-in number.

Or I take the damn thing to Carmax! They've always been in the Edmunds ballpark in the past.

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