I'm about to purchase a Crossfire.

What APR precentage are you guys on here paying for your Crossfire?

 

I believe the APR you pay is related to your credit history???

 

zero apr. I prepaid a 36 mo lease.

 

Yea, I'm probably gonna go with a lease, then when the lease expires then finance the remainder owed.

Im 20 years old, work 2 jobs. Been at both jobs 2months apeice. I didn't know what the financing terms would be. I bring in around $2500/month. I don't have credit, my mother is also gonna co-sign on the car.

You think I'll be able to get the zero apr for the lease?

 

If you qualify you can still get on the 299/mo lease for 39 months, with something like 3k down which includes tax title license or something of that nature.

You might want to look into it.

 

Anyone know what the qualifications are?

 

Qualifications are based on your credit score. If you have a co-signer it will help. Since you have no credit history.

 

Well, my mother has great credit....and I mean great. So I guess I'll be fine.

Do you know if you have to be on your job a certain period of time to qualify? I've been at both of my jobs for 2 months a piece.

 

I'd hate to answer your questions and be wrong. Just meet with someone at the dealership. They can run a credit report on both of you combined and give you all the details that fit your situation.

Before you have them or any dealership run a credit report, make sure you are ready to deal with them. Every time you run a credit report it marks your credit record. Nothing major, but if you get a few reports run in the same month it looks bad.

 

I'll be sure to take your advise. It'll be 1-2 months before I get it. But boy do I look forward to driving it.... :-)

 

i don't think so. leases don't use an APR, but instead what is called a "money factor". essentially, it's the same thing as an interest rate though. the lower the money factor the lower interest you pay (you can do a conversion from money factor to interest rate). a lease is typically held by a leasing company, not the dealer who sells the car so there will always be some money factor associated with a lease since the leasing company needs to profit somehow.

 

The lease makes it more affordable. That and insurance will be more than the payment for the car...lol

 

Take the money factor and multiply by 20 and you get the equivalent apr for comparison purposes.

The prepaid lease is only available thru Chrysler financial, and since you are not using their money, because you are make 1 large payment instead of 36, the money factor was zero. You are only paying for the depreciation. It is a way to make lease payments lower...but you have to write a large check on the first day. You also cannot take advantage of any lease pull ahead program in the future...since the prepayments cannot be refunded. You're right, other financial institution will not do one payment leases because they want to make money on the leases. Chrysler financial's goals are to help Chrysler sell autos...so they are willing to forgo earning interest. Just remember to make payments to yourself so that your bank account will built up again to lease a SRT next.

 

$30,065 @ 4% for 60 months + TTL = $600 per month

Insurance is about $68 bucks a month for me with a two car discount and also being 40 yrs old.

 

Hi...


~5.48% thru Chrysler financial for 60 months... went w/ this to get the $1,000 cash back from Chrysler on an '04... no prepayment penalty... intend to prepay... A++ credit...


Dave...

 

Doesn't the money factor also apply to the residual value? It's $20k of car sitting 39 months into the future. Doesn't the leasee have to pay for that?

 

Here is how you can calculate a lease payment.

(MSRP - residual) divided by # of months in lease = deprec portion of payment
((MSRP + (plus) Selling price) - (less any money down))x money factor = money portion of payment

add the deprec portion + money portion and you have your monthly lease payment, plus tax(es).

If you want to add your old car payoff to the new lease, you need to add that amount before you multiply the money factor.

In a lease, the residual and money factor can be used by leasing companies to get you a great lease price...usually by inflating the residual, which kills you if you try to end the lease early. Right now, I would guess the money factors are about 0.0025. which if you multiply by 20 gets you the equivalent rate of 5%...

 

I test drove the Crossfire today. I must say that it is the most unique car I ever driven. The ride is so nice, and I like the steering (took a second to get used to, but I like it!).

When the spoiler came out I was going around 65, and you could feel the back of the car sit down a little. It was awsome. I'm going to purchase in the next 1-2months.