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Hi everyone, I've been lurking a while and I've finally registered. I put a $500 deposit down in late April and I'm in the first allocation at the Little Falls, NJ dealership. I'm a little confused about something- I just went to the pontiac website to estimate the price and monthly payments for the Solstice and the monthly payments seemed a little high. The MSRP came to 23,720. I'm putting $4500 down with a 36 month lease term and 12,000 miles a year and the payments end up being $360. If I do a different car-for example the Grand Prix priced almost the same with same lease term, down payment and miles the monthly payment comes to $210. Why such a large difference? I tries it a couple of times just to make sure. Does each car have such a different rate even with equal MSRP? I'd appreciate anyone who could shed some light on this. Thanks!

Chris
 

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I did a 36 mth lease with no money down and came to the same pmt. There may be some differences from NJ and MD but not that much. I have to assume some mistake somewhere. The Solstice will be better on a lease than the GP because of the higher residual. Unless the GP is heavily incentivised. Also, could be that the calulator is still basing it off a $19995 MSRP, so when you raised the selling price it does not compensate the residual it merely thinks you are paying more for the same base car. Im fairly confident that is the problem. I didnt change it and hadnt realized you did until re-reading your post.
 

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cgrasso said:
Hi everyone, I've been lurking a while and I've finally registered. I put a $500 deposit down in late April and I'm in the first allocation at the Little Falls, NJ dealership. I'm a little confused about something- I just went to the pontiac website to estimate the price and monthly payments for the Solstice and the monthly payments seemed a little high. The MSRP came to 23,720. I'm putting $4500 down with a 36 month lease term and 12,000 miles a year and the payments end up being $360. If I do a different car-for example the Grand Prix priced almost the same with same lease term, down payment and miles the monthly payment comes to $210. Why such a large difference? I tries it a couple of times just to make sure. Does each car have such a different rate even with equal MSRP? I'd appreciate anyone who could shed some light on this. Thanks!

Chris
I'm pretty sure the solstice is a higher intrest rate. Anyone can correct me if I'm wrong.
 

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why not buy it and keep it?
Unless you need to lease for business purposes, with $4500 down it would make sense to purchase . I calculated a basic solstice with A/C at $21k. With a $4500 down payment and a 60 month term and a 6.54 APR, the monthly payment is $353.
 

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If you are military, then I ran across a 3.59% in the Stars and Stripes (I forgot the credit union name). The only catch was that you needed to put down 40% (I think) and have the payments paid on allotment. Not a bad deal, if you do not mind the 40%.
 

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My credit union currently has 3.99% for 36 months and 4.24% for 48 and 60 month loans (when combined with automatic payments from your checking account). If you shop around, you can usually find much better rates than what GMAC will offer for a loan.

I don't think the lease rates for the Solstice will make it profitable to go with leasing. If you plan to keep the car for the long term, you may as well buy. Just shop around for better financing rates.
 

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dengel said:
If you shop around, you can usually find much better rates than what GMAC will offer for a loan.
:agree:
Luckily, I will use the 0% route (cash). :party:
 

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very very imformative thread. i thank all. as things get a little more together im sure the story will change. im thinking that if demand stays high even if you finance for 60 mos and sell in 36 you may still make out ok. not sure , im kindof mathlexic ;)
 

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MSG_McKee said:
:agree:
Luckily, I will use the 0% route (cash). :party:
Well, by the time my Solstice actually gets delivered, I may have saved up enough cash to go that route! :lol:
 

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They have a great savings plan over here ... ;) :lol:

By the way, for those who have not been to my blog ... this is me at the Palace in Baghdad. :cool:
 

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Welcome to the forum Cgrasso! :thumbs:

I am not sure how the website comes up with lease rates. If you really were curious right now, you probably would be best to give your dealer a call and see if they can give you an estimated lease rate based on the terms you want. $360 certainly does sound high, and at that amount I think I would just go with the purchase. Good luck!
 

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Me too

MSG_McKee said:
:agree:
Luckily, I will use the 0% route (cash). :party:
Ala my login - "Cash is King"

BTW That avitar is scary.......didn't I see that on "Over*There" last night?
 

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$$ISKING said:
Ala my login - "Cash is King"

BTW That avitar is scary.......didn't I see that on "Over*There" last night?
That is the main Palace. The one that the USAF put 2 smart bombs in the bridge in his back yard and the 3d ID Bradleys parked on his front "yard." ;)
 

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MSG_McKee said:
That is the main Palace. The one that the USAF put 2 smart bombs in the bridge in his back yard and the 3d ID Bradleys parked on his front "yard." ;)
Stay safe, so that you trade your Bradley ride into the Sol ride!!
 

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MSG_McKee said:
I love the >10% interest rate they plug into the calculator! :willy: ;) :lol:
Try capital one. I think you can get around 51/4 Right now, which I don't think is bad.No hassle, apply on line and you hear back with in min. Then they send you a blank check same day. Don't start paying till you use check. Good for 45 days.and you can pay it off with no penalty.
 

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Cash Route

MSG_McKee said:
Luckily, I will use the 0% route (cash).

I knew there was a reason I should have volunteered for deployment...As it is I sit here at Fort Leavenworth, KS praying for the safe return of my friends/brothers-in-arms in the Sand, both in Iraq and Afghanistan...

Not only the savings plan, but the tax-free income and allowances, add up to one sweet coming home present.
 

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dengel said:
My credit union currently has 3.99% for 36 months and 4.24% for 48 and 60 month loans (when combined with automatic payments from your checking account).
Dengel - what's the name of your credit union and where are they located?
 

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Dont stress too much over the rates..at least not enough to spend too much gas on it. 1% different in rate for a $20k loan at 60 months is equal to appx $550 over the course of the entire term of the loan. Not worth too much sweat! Also, if you do not take the loan to full term than the difference will of course be less. Obviously, a 4 or 5% difference would be a totally different story. But this is not a mortgage, simply an inexpensive auto loan. I see people everyday freak out about a 1/4 point difference in loan rates and will travel all over gods green earth to save that 1/4 point...its just not worth it IMHO.
 

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deepdawg said:
Dont stress too much over the rates..at least not enough to spend too much gas on it. 1% different in rate for a $20k loan at 60 months is equal to appx $550 over the course of the entire term of the loan. Not worth too much sweat! Also, if you do not take the loan to full term than the difference will of course be less. Obviously, a 4 or 5% difference would be a totally different story. But this is not a mortgage, simply an inexpensive auto loan. I see people everyday freak out about a 1/4 point difference in loan rates and will travel all over gods green earth to save that 1/4 point...its just not worth it IMHO.
Deepdawg, if $550 isn't a lot of money to you, I'll gladly take it off your hands! ;)

But honestly, in most cases, you can shop for financing and interest rates with out ever logging off your computer. In fact, you could probably apply on line and have the check for the financing sent directly to you or your dealer without exerting more energy than it has taken me to type this message. Now if you argued that avoiding carpal tunnel syndrome was worth an extra $550, it might sound more logical. :lol:
 
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