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Discussion Starter · #1 ·
Ive posted on many boards, but no clear answer. I plan on leasing a 06 Mustang GT with auto, MSRP around 27,000. If I put 12,000 Down on lease, 3 year 36,000 mile term, what would be the price of the final monthly payment, taxes etc included with perfect credit. Ive thought it out, I am going to college soon, and dont want a high car payment, insurance my dad is paying for, and please dont say Buy instead of lease, 12,000 is to much, etc. Ive tried payment calculators, but i dont know the residual value of the stang.

Thanks
 

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Basil said:
Ive posted on many boards, but no clear answer. I plan on leasing a 06 Mustang GT with auto, MSRP around 27,000. If I put 12,000 Down on lease, 3 year 36,000 mile term, what would be the price of the final monthly payment, taxes etc included with perfect credit. Ive thought it out, I am going to college soon, and dont want a high car payment, insurance my dad is paying for, and please dont say Buy instead of lease, 12,000 is to much, etc. Ive tried payment calculators, but i dont know the residual value of the stang.

Thanks
Are you sure they are available for lease? 12000 down? that's almost half the price of a new one, for that much down and if they do lease, I would guess between 2-300 a month.
 

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Even though you said don't say it, I am going to.

With a BUY on a $27,000 car with $12,000 down, assuming 60 months at 4.99%, your payment would be $285 /mo.

With a 36 Month lease, assumig $15,000 residual, your lease payment would be about $180 a month.

If you can swing the additional $100 a month, you would be better off with the buy. Please keep in mind that these numbers do not include Gap insurance that would be necessary on a lease.

Just my 2 cents.

Oh, and all these calculators are availabe at Edmunds.com
 
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12000 down and you dont want to buy it? is it just me or does that make no sense at all....please explain....i just bought my 06 gt....gotta own it dude...own it..i bought it even though i have a 2000 gt...the car is just unbelieveable.no one shopuld lease a car destined to be a true classic
 

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hey PC,

Glad to see you on the good side of the order status. How is the GT working out. Have you posted pics of your baby yet. I have new rims coming in this week and will post some new pics shortly.
 

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I think if you put $12000 down on a lease, that would almost pay the entire lease up front.

I have a mini van which stickered @ 30k. My payment is $360 a month. I would assume the Stang would have a much better residual 36 x 360 = $12,960.

I would guess with taxes $40 a month
 

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Just my 2 cents...but putting $12,000 down on a LEASE is throwing money away.
 

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Discussion Starter · #9 ·
I make around 400 a month, I work part time since I have school and Iam only 16, I dont have alot to spend on a car. 200 is max I can spend on a payment, figuring 100-130 gas a month. I plan on buying out the car after 3 years, once I get though my first year of collage my dad says. I know, buying it out costs more money, but I really dont want to pay an extra 100 a month and be in worse financial struggle.


I emailed MANY dealers, and they all gave me the run around, noone wants to answer the question of an estimate a monthly price.

Thanks
 

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OK, here's the numbers:

Given a purchase amount of $27,000.00.
A down payment of $12,000.00.
An interest rate of 4.990%,
A term of 60 months.
Your monthly payments will be $283.00.

Bottom line: you can't afford a GT on $200/mo. Go for a V6.
 

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Oh, and if you're negotiating, NEVER negotiate a payment. That's how they screw you on the price. ALWAYS negotiate price and tell them to let YOU worry about the payment. Shop several banks to get the best interest rate.
 

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Ok... $400 per month is not a lot to work with... I would consider that a "I can't afford a car payment" income amount. I'd suggest, taking the 12k buying something cheap on gas and solid mechanically for 10k. Take the remaining 2k, and save it for a raining day (repairs, keg parties, etc). It's probably not what you wanted to hear but, it's responsible and realistic.

Study through college (don't forget to party), get a great (more than $400 per month) job and then buy that bad boy Stang!

 

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If he is 16 he would never qualify unless his dad cosigns. Never buy the car at the end of the lease you will pay lots more than if you just purchased from the beginning. Go to blueovalnews.com and look in the forums. Ford was paying its employees to give out their discounts. You should find someone there who will give you a pin for a x-plan.

You could also look into financing for 6 years to lower your payment even though the rate would be higher.
 

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Also get a 5spd. It will save you about $800 and you will pay more attention to the road
 

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His income is $400 per month! I think a new car no matter what it is out of the question.... It's no wonder this country has the highest personal debt rate in the world.
 

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$400/month income - LOL :dunce:

My 05 GT monlthy payments are almost $600 - LOL. :eyebulge:

I paid $31K (Automatic, IUP, Red Leather seats) with $500 down 60 months at 4.9%.

We're not even factoring insurance. What would a 16 y/o pay for insurance on a GT? I pay $1200/year with no accidents (LA, California).
 

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Discussion Starter · #17 ·
I only work 15 hours a week, I have school, Iam a junior ni HS, so I cannot leave school earlie to work. My dad is paying for insurance. I heard it over and over again, kids are wrecklass and inurance will drop me. I just want a figure please?


How did you figure 283 a month? Iam going to lease, not buy. Pleas, I need to know to prepare financially
 

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Zrullac said:
hey PC,

Glad to see you on the good side of the order status. How is the GT working out. Have you posted pics of your baby yet. I have new rims coming in this week and will post some new pics shortly.
We should not hijack this thread, check my gallery, there are a couple pictures there.
 

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Actually what may be a better suggestion would be to take the $12k and buy an older fox body mustang. Then with the difference either buy go-fast parts or sock it into a Mutal fund that is paying about 3.5% or so.

(OMG - I am starting to sound like my parents now!)
 

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Basil said:
I only work 15 hours a week, I have school, Iam a junior ni HS, so I cannot leave school earlie to work. My dad is paying for insurance. I heard it over and over again, kids are wrecklass and inurance will drop me. I just want a figure please?


How did you figure 283 a month? Iam going to lease, not buy. Pleas, I need to know to prepare financially

If you put 12000 down on a lease your payments should be less than $50. Read my previous post about my van lease. Have your Dad do the dealing. Paying a lease up front should get you a better deal.
 
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