2015 Evo X GSR Lease. How much are you paying ?
May 18, 2016, 02:49 PM
#16
575 a month is including taxes. Also accounting wise i was able to deduct more because of the lease and my business. They werent offering 0% and even if they where my credit wasn't going to get me that anyway. I think the sticker was 40k but then we had factory GPS Installed so that put it around 42. So lets say financing would have been around 6% because thats what sounds likely for the time and lets assume 2k down . 40,000*.06apr=2,400 a year * 5 years comes out to 52,000 before taxes. Now you could say i will be paying interest on the loan for 14k but if i cant get a pretty good rate then ill just pay it out in cash.
I know I could have done better on negotiating, im not claiming i got a good deal or anything. Just at the time it made sense to go that route.
I know I could have done better on negotiating, im not claiming i got a good deal or anything. Just at the time it made sense to go that route.
The fact you where able to have tax deductions because of your business makes more sense that you leased now.
However this also proves my point that a person should ALWAYS negotiate the purchase price, THEN the lease.
The purchase price was for sure more than $40,000 if your buyout is $14k and your total of lease payments will be $34,500.
May 18, 2016, 02:55 PM
#17
EvoM Community Team Leader
Actually i messed that up. 42k plus 9.5% sales tax =45,990 - 2k down = 43,990 * .06 = 2,639/year * 5 years = 57,181 after taxes and financing. Compared to 575*60= 34,500+2k down. Then 14k plus 9.5% sales tax = 51,830. This isn't factoring what i saved on my taxes from writing off the lease payments though, which is hard for me to quantify without digging through my records.
May 18, 2016, 03:00 PM
#18
EvoM Community Team Leader
Right, you are paying taxes on the lease payments. You also will have to pay taxes on the $14,000 when you buy it out.
The fact you where able to have tax deductions because of your business makes more sense that you leased now.
However this also proves my point that a person should ALWAYS negotiate the purchase price, THEN the lease.
The purchase price was for sure more than $40,000 if your buyout is $14k and your total of lease payments will be $34,500.
The fact you where able to have tax deductions because of your business makes more sense that you leased now.
However this also proves my point that a person should ALWAYS negotiate the purchase price, THEN the lease.
The purchase price was for sure more than $40,000 if your buyout is $14k and your total of lease payments will be $34,500.
May 19, 2016, 04:10 AM
#19
I put 2k down on a 14 evo X and my payment is $349 a month. 10k miles a year for 3yrs. I plan on purchasing the evo after the lease is up so ive modded the evo. I wasnt sure they were going to make any evos past 2014 and couldnt afford any payment higher than $350.
Plus with living in nebraska, plates are so damn expensive that leasing the evo saved me thousands in getting plates for the car.
Plus with living in nebraska, plates are so damn expensive that leasing the evo saved me thousands in getting plates for the car.
May 20, 2016, 02:40 PM
#20
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I leased my 14 gsr from south coast mitsu. I put 3k down and had a payment of 400 with 12k miles per year. I should have tried to get a cheaper payment but I was so excited to get the car that I was a bonehead and didn't even try to negotiate. My lease recently ended and I financed the rest of the car through the my credit union. They told me the car was basically worth 6k more than the amount I was financing for.
May 20, 2016, 04:25 PM
#21
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