PLEASE DELETE POST. I MOVED IT TO THE RIGHT SECTION (BUYING, LEASING and ORDERING)
Hi guys,
Big dilemma right now. Here's my situation:
Currently have a 2013 Edge Limited AWD 3.5L V6
Bought used at a dealer this year, with a solid carry over from my last vehicule.
Edge has 68 000 km (yep, I'm canadian !)
Currently on a 6 years financing at a ridiculous bank rate of 6.5%
Payment is 276$/2weeks
Talked to my dealer. He has a demo 2015 that he needs to sell:
2015 SEL AWD 3.5L V6 with all the options I want.
Only has 3 000km
Would finance me over 7 years (I know it's long, but eh), at a much better rate of 2.99%
Would take my current car with all the balance
Payment would be 290$/2 weeks
MY QUESTION
Now what's better ?
276$/2 weeks, on a 6 year term at 6.5% (used 2013 with no warranty)
OR
290$/2 weeks, on a 7 year term at 2.99% (new 2015 with warranty)
Somebody good in maths could help me on this one !? I work on the road and expect to do around 25 000km/year.
What should I do ? Do I make the move ? I've only had my 2013 for 6 months now !