I haven't had the chance to look up the RHO but I do know the TRX had residual values around 47-49% in 2023 at 39 months. It was horrible but you generally had a TON of positive equity if you wanted to trade it in. Base money factor so you will be in the 6-6.5% range. Just to give you some sort of idea.91.5k MSRP. 83k purchase price on the lease with all fees included.
They are quoting around $1400/month W/1k down. 39 Months 15k miles.
I am waiting to see more information so I can try to make sense of how they are coming up with these numbers.
is this for a unit on the ground or an order?91.5k MSRP. 83k purchase price on the lease with all fees included.
They are quoting around $1400/month W/1k down. 39 Months 15k miles.
I am waiting to see more information so I can try to make sense of how they are coming up with these numbers.
In my opinion, you did well with at that residual.Sign and drive, no money. Residual is 44K.
I think he got an insane deal. Hoping to get the same when my time comes!In my opinion, you did well with at that residual.
at that math it would mean you didn’t pay tax? 36 times 1200 is 43ish and then 44 at the end would put you around 87k? or is that not how this residual value stuff works? never leased always bought before so not too sure hahaSign and drive, no money. Residual is 44K.
Agree. Leasing usually makes sense when they have deals on a low money factor. The current money factor is higher than most 72 month buy rates. Leasing an RHO today is a hard sell given the standard money factor. But some people like the comfort of having the residual protected however, with a 72 month buy using Navy Fed (5%), your payment would be $1320 at $83k purchase price and $1k down (used the lease of the OP). In 39 months (lease end) the amount owed on a 72 month loan would be $40,637 which is less than the residual at lease end. With that said, you also saved roughly $100 month in the monthly payment or $3,900 over the 39 months by buying instead of leasing.Your math is correct if I was going to buy it at the end of the lease. That's usually a really expensive way to purchase a car and in most cases you're better off buying it from the beginning. Especially as the used car market declines the cost of ownership goes up. I'll use my last V6 Raptor that I owned as an example. I paid 88K plus tax, 93,280. I sold it after 2ish years for 71K. So on a monthly basis that truck cost me about 1K/month to own. The way I look at it you're just managing an expense which is all any car is.
I don't think there is much equity with a 48% residual. That is probably on point or even less. My current 23 Durango Hellcat was $108 MSRP and 1.5 years later it has a current street price around $65. That's 40% in under 2 years time. For 3 years it seems realistic to be near 48% or more. These special vehicles just don't hold their value. I'm sure things may change in 8, 10 or 20 years but not today especially with rumors of v8 returning. My 18 Trackhawk was similar. Imagine paying $50k above MSRP (what koons was asking at the time I purchased DDHC).I haven't had the chance to look up the RHO but I do know the TRX had residual values around 47-49% in 2023 at 39 months. It was horrible but you generally had a TON of positive equity if you wanted to trade it in. Base money factor so you will be in the 6-6.5% range. Just to give you some sort of idea.
wait, i’ve been thinking about this and i was thinking the payments add up to MSRP, but does that mean you bought it for msrp? or did you get it under MSRP?Your math is correct if I was going to buy it at the end of the lease. That's usually a really expensive way to purchase a car and in most cases you're better off buying it from the beginning. Especially as the used car market declines the cost of ownership goes up. I'll use my last V6 Raptor that I owned as an example. I paid 88K plus tax, 93,280. I sold it after 2ish years for 71K. So on a monthly basis that truck cost me about 1K/month to own. The way I look at it you're just managing an expense which is all any car is.
Obviously, this is not a Durango and I wouldn't expect the depreciation to be similar. For example, your typical Ford vehicle depreciates much more rapid than the raptor, hopefully this is similar. Same if you look at Bmw's vs their M cars.Its the ridiculous depreciation these vehicles have in the 1 to 2 year timeframe. Not as painful as higher end BMW or Audi's, but close. Then again I have a 23 Durango that lost about $40k in 1 1/2 years.