Help needed. Whats the better deal? Mustang pp2

Jul 19th, 2020 2:53 am

#1

Horsey2345 [OP]: Sr. Member; Feb 18, 2012; 905 posts; 542 upvotes; Victoria

Jul 19th, 2020 2:53 am

Help needed. Whats the better deal? Mustang pp2

Hey,
Just looking for advice on which option to go with

1st 2019 Mustang Gt Performance Pack Level 2. Completely stock except MBRP X-pipe and Michelin Sport 4S tires (Cup 2 tires have been removed so this car can be daily driven) Recaro seats, B&O sound system, active exhaust etc
This vehicle is an employee lease at employee pricing I want $2000 and take over the payments of $697/month including tax final payment due on August 19th 2023 with an option to purchase of $22059 plus tax. Or buy out for $45k

2nd. 2020 same options except no recaro seats

cash would be 53,225 plus fees and tax which is 60,418.
lease or finance it the best price would be 54,350
At 6o months the payment is 478 bi weekly with 0 down at 0%
At 72 months the payment is 410 bi weekly at 1.99%

lease the selling price remains at 54,350
The 48 month lease with 16,000km per year is 385 bi weekly including tax at 1.99%

Thanks

Jul 19th, 2020 7:48 pm

#2

Horsey2345 [OP]: Sr. Member; Feb 18, 2012; 905 posts; 542 upvotes; Victoria

Jul 19th, 2020 7:48 pm

Somebody has to have some ideas?

Jul 19th, 2020 8:19 pm

#3

booblehead: Deal Expert; Jul 30, 2007; 32067 posts; 19279 upvotes; Toronto

Jul 19th, 2020 8:19 pm

2nd - you are paying $40,000 + taxes for 4 yrs and in the end, you don’t even own it.

1st - you pay $45k + taxes less $2000 requested cash back and you own it now. That sure sounds like a better choice to me and in about 4 years, I would imagine the vehicle has a fair value of $20,000 range, thus making your 4 yrs of ownership costs of around $27k (if you end up selling)

Lastly, you should try to get the transfer fee paid by current owner as well at the min.

+1

Jul 19th, 2020 8:32 pm

#4

booblehead: Deal Expert; Jul 30, 2007; 32067 posts; 19279 upvotes; Toronto

Jul 19th, 2020 8:32 pm

I guess as long you are totally okay getting a 1 yr old used car but at least you will enjoy a bit of savings though

Jul 19th, 2020 8:40 pm

#5

Horsey2345 [OP]: Sr. Member; Feb 18, 2012; 905 posts; 542 upvotes; Victoria

Jul 19th, 2020 8:40 pm

Thanks. There are a few other factors though, as i don’t have $45 k cash so there would be interest on that. The advantage with the lease though is that if you have an accident you don’t eat the depreciation you can just turn it in end of lease.
Also, it would be $45k there is no $2k back, thats just what he wants to take over the lease.
After 4 years it should still be worth over $30k.
Thanks

Jul 19th, 2020 8:54 pm

#6

booblehead: Deal Expert; Jul 30, 2007; 32067 posts; 19279 upvotes; Toronto

Jul 19th, 2020 8:54 pm

Just continue on with doing the monthly payment then. If you decide you don’t love the car anymore, then just drop it off and walk away.

Option 1 is still a better choice, imo

Jul 19th, 2020 9:07 pm

#7

peteryorkuca: Deal Fanatic; Jul 26, 2007; 6781 posts; 4350 upvotes; Toronto

Jul 19th, 2020 9:07 pm

Year ago, when they had employee pricing promo, all mustang GT had 6000 off from factory. This was in April/may 2019. Add local dealer discount 4k, I almost bought the $60k MSRP 2019 bullit for $50k all inclusive plus HST. If you are looking for mustange gt pp1 or pp2 of similar $60k msrp. I would wait for next employee pricing promo and aim to get $10k off. Base GT MSRP $40k was going for $32k as well.

Jul 19th, 2020 9:16 pm

#8

Horsey2345 [OP]: Sr. Member; Feb 18, 2012; 905 posts; 542 upvotes; Victoria

Jul 19th, 2020 9:16 pm

Yes, thats pretty much whats going on now. Sticker price is $61k selling for $54k so $7k off right now.

peteryorkuca wrote: ↑ Year ago, when they had employee pricing promo, all mustang GT had 6000 off from factory. This was in April/may 2019. Add local dealer discount 4k, I almost bought the $60k MSRP 2019 bullit for $50k all inclusive plus HST. If you are looking for mustange gt pp1 or pp2 of similar $60k msrp. I would wait for next employee pricing promo and aim to get $10k off. Base GT MSRP $40k was going for $32k as well.

Jul 19th, 2020 10:16 pm

#9

vkizzle: Deal Expert; Aug 22, 2011; 38180 posts; 24365 upvotes; Center of Universe

Jul 19th, 2020 10:16 pm

Option #2, so you can dump it afterwards.

Jul 19th, 2020 10:40 pm

#10

Horsey2345 [OP]: Sr. Member; Feb 18, 2012; 905 posts; 542 upvotes; Victoria

Jul 19th, 2020 10:40 pm

Do you mean buyout and then sell or trade in for new car or just return? The buyout is $23k plus tax and it will be worth $30something

vkizzle wrote: ↑ Option #2, so you can dump it afterwards.

Jul 19th, 2020 10:43 pm

#11

vkizzle: Deal Expert; Aug 22, 2011; 38180 posts; 24365 upvotes; Center of Universe

Jul 19th, 2020 10:43 pm

Horsey2345 wrote: ↑ Do you mean buyout and then sell or trade in for new car or just return? The buyout is $23k plus tax and it will be worth $30something

Return and get in a newer model.
These GTs aren't special enough to keep around, unless you plan to drive it to the ground.

Jul 19th, 2020 10:58 pm

#12

Horsey2345 [OP]: Sr. Member; Feb 18, 2012; 905 posts; 542 upvotes; Victoria

Jul 19th, 2020 10:58 pm

Thanks. So wouldnt it be better to take over the lease in option 1 and change after 3 years?

vkizzle wrote: ↑ Return and get in a newer model.
These GTs aren't special enough to keep around, unless you plan to drive it to the ground.

Jul 19th, 2020 11:30 pm

#13

peteryorkuca: Deal Fanatic; Jul 26, 2007; 6781 posts; 4350 upvotes; Toronto

Jul 19th, 2020 11:30 pm

Horsey2345 wrote: ↑ Thanks. So wouldnt it be better to take over the lease in option 1 and change after 3 years?

Get the 2020 bullit. There are some on autotrader for 10k off. Compared to regular gt, you can sell it few k more if you get tired of it.

Jul 20th, 2020 5:30 am

#14

vkizzle: Deal Expert; Aug 22, 2011; 38180 posts; 24365 upvotes; Center of Universe

Jul 20th, 2020 5:30 am

Horsey2345 wrote: ↑ Thanks. So wouldnt it be better to take over the lease in option 1 and change after 3 years?

Yeah, I think option 1 would be better.

Jul 20th, 2020 8:40 am

#15

kammj1: Member; Nov 10, 2015; 379 posts; 391 upvotes; Thornhill, ON

Jul 20th, 2020 8:40 am

Option 1 just for the recaros.. They are soo comfy.

And i would test drive both. Make sure you like the sound of the one with an x pipe.. Makes it sound raspy. You may also consider modding more in the future (more exhaust, springs, tune etc). Not sure if you want to mod a leased car or not.

Jul 20th, 2020 12:11 pm

#16

chopsticksonly: Jr. Member; Aug 18, 2014; 112 posts; 97 upvotes; Calgary, AB

Jul 20th, 2020 12:11 pm

Option 1