Prado,Pajero Leasing

Submitted: Sunday, Apr 29, 2007 at 16:51

ThreadID: 44876 Views:1929 Replies:2 FollowUps:1

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Oldman

Any one gone into a leasing arrangement for the new Prado and/or Pajero

Just asking as when I compare the Pajero VRX with the Prado VX I find the overall cost of the Prado more by a few thousand dollars but the monthly repayments for the Pajero is more than the Prado.

Only thing I can think of is
1) the costs of the new Prado are wrong (I thought there was a much bigger difference in price)-
2) running costs - ie the Prado is cheaper to run than the Pajero
3) the lease companies software is stuffed

Any ideas,

Richard

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Reply By: SMMKJD - Sunday, Apr 29, 2007 at 17:05

Sunday, Apr 29, 2007 at 17:05

Richard

Difference relates to the residual value that the leasing company can obtain at end of lease. Prado has a better used resale value.

Steve

AnswerID: 236645

Follow Up By: Oldman - Sunday, Apr 29, 2007 at 17:13

Sunday, Apr 29, 2007 at 17:13

Steve
Yep the residual value for prado is more than the pajero which you would expect as it costs more.

Thanks again,
Richard

FollowupID: 497718

Reply By: Member - TonyG (Qld) - Monday, Apr 30, 2007 at 07:34

Monday, Apr 30, 2007 at 07:34

Hi Oldman,

Ask the leasing company for the following breakup to help you understand the difference:

1 - What is the purchase price?
2 - What is the term of the lease (ie 4 years or 5 years)
3 - What is the residual value (amount payable at end of lease). This can vary from 20% to 40%
4 - What are monthly repayments

Once you have the above information, then do the following:

5 - View redbook to determine the value of a similar vehicle that is as old as the term of your lease.
6 - Make sure the sale value of the car is higher than the residual, so you do not have to payout extra money at the end of your lease.

All the above should help you understand this a lot better.

Thanks

TonyG

AnswerID: 236769