Did you lease or buy your 03?

[Moonlight96GT]

Hey guys, we are going to work out the #'s on our 03 today and I wanted to know what you guys did with yours....

Buy? If so, did you put a hefty down payment?

Lease? If so, what was the ballpark in terms of payments and est. residual value?

Hopefully we can drive off with it tonight and I can get this nervous feeling out of me. I hate buying cars.

Thanks in advance!

 

[postban]

Bought it! I put down a large downpayment.

 

[VintagePorscheG]

buying it and not putting down much...

( I have higher interest rate stuff to pay off before I put lots of money down on a car )


Wish I could get that 0% rate I got on our mini van last summer...

 

[p3pete]

Bought it. Put $4K down and financed the rest at 5.4% for 60 mos. The bank said they would go to 84 months, but the rate goes up to 6.4%. This is going to be a classic - I would recommend buying it if you can make the payments. Good luck!

 

[Moonlight96GT]

Thanks for your responses so far....

We were going to finance for 60 months with $3000 down, not sure what the rate is yet, will find out when we get there later today I guess.

Keep them coming!

 

[TopRacer]

Buying with cash...going to be $37750 plus tax, tags and reg.

 

[donaisenbrey]

I'm Leasing:.........cause the Cobra is a company car. The Ford 52% residual value ($ 20,500.00 for a vert) is not negotiable and is "good" if you are thinking of purchasing the car at the end of the lease. Other leasing companies may have different residual values.

The lease numbers will be between $22.00 and $27.00 per day over a three year lease if you can get MSRP as the agreed upon price. You have to determine if you want low monthly payments or a low Capital Cost Reduction (up front payment)................Don

 

[Moonlight96GT]

Originally posted by donaisenbrey
I'm Leasing:.........cause the Cobra is a company car. The Ford 52% residual value ($ 20,500.00 for a vert) is not negotiable and is "good" if you are thinking of purchasing the car at the end of the lease. Other leasing companies may have different residual values.

Don, why is the residual not negotiable? Reading Edmunds.com says the residual amount depends on what the dealer says.

Thanks,
Matt

 

[Evilcartman]

I'm putting 23k down and getting financed through Ford Motor Credit for the rest at %4.94. My payment should be in the mid 200's.

 

[C_Record]

Originally posted by Evilcartman
I'm putting 23k down and getting financed through Ford Motor Credit for the rest at %4.94. My payment should be in the mid 200's.

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Are you sure about that 4.94% thru Ford Credit? I was told a month or two ago that it should be a low of about 6% thru them(regardless of how good a person's credit rating is).

 

[docs03]

I'm putting down $8500 on my vert and financing the rest through a finance company at 5.35% over 60 months. Not too concerned about the monthly payments. I' plan on paying it off in 2 years.

 

[Evilcartman]

I have already got the paper ready to go, I'm just waiting on the car. I bought an '02 Taraus 3 months ago and that added an additional discount. I have a credit rating over 750 since I own my house out right. The credit lady showed me all the papers. They have a sheet that has a list of discounts and we were able to get almost all of them. The term is 60 months. My father in-law is over 50 with perfect credit but he didn't have the other new car discount and they only wanted to give him %5.25. Weird, but I won't complain.

 

[donaisenbrey]

Don, why is the residual not negotiable? Reading Edmunds.com says the residual amount depends on what the dealer says.

Matt:

As I said above. "Other leasing companies may have different residual values."

Edmunds can say what the want but FoMoCo Credit says 52% Have your dealer "shop" the lease with other leasing companies or.....shop it yourself if the dealer won't.........Don

 

[Moonlight96GT]

Originally posted by donaisenbrey


Matt:

As I said above. "Other leasing companies may have different residual values."

Edmunds can say what the want but FoMoCo Credit says 52% Have your dealer "shop" the lease with other leasing companies or.....shop it yourself if the dealer won't.........Don

Ah, I see, thanks for clarifying

Matt

 

[El Culebra]

I took a home equity loan buying the wife a Windstar and the 03. I will write the interest off at tax time. I am paying very low interest and monthly payments per month plus I have the pinks in hand.

 

[FX-Man]

3000 down 6% until I pay it off next spring. But the wierd part is that I submitted to Lending tree and got quotes from 6% to 13.25% . You would think that the spread would be a little tighter if they are all looking at the same credit reports.
I also submitted to Ford Moter Credit online because I financed my last Mustang through them but they turned me down with no explanation:shrug: .

 

[Sonic03]

$5000 and counting....

the more I wait the more I save for the down payment, saving about $500 a week, my car hasen't even arrived in the port in Seattle, let alone the port in Alaska, I should have $6500 by the time I get the call.

I am driving away with an '03 someway, plan to buy though