evnow
Well-known member
xtremeflyer said:Exactly and I did the math in another thread, but if you put $4000 down to save .0049 money factor, you'd save $1080 over the life of a 3 year lease, but if you put that $4000 into a 3-yr CD, you'd only make $250 and have to pay income taxes on it. So it's almost a 25% return on your money.
Here are the rates - so let us say $4K takes you from Tier 4 to Tier 0. That is a saving of 0.0023 MF. That would save you some $500. But if you go only 1 Tier up - it is a saving of 0.0002 (or $50) and won't be useful.
Tier 0 — 0.00204 (credit score Above 740) i.e. 4.9%
Tier 1 — 0.00224 (credit score 700-739)
Tier 2 — 0.00264 (credit score 660-699)
Tier 3 — 0.00369 (credit score 620-659)
Tier 4 — 0.00454 (credit score 600-619)