Went to the dealership to talk numbers on a 2017 Challenger Scat Pack. Here’s all the info
MSRP: 41,000
Equity: -5,000
Year: [2017]
Make, Model, and Trim: [Challenger]
Months/Annual Mileage: [36/12K]
Zip Code: [33029]
Tier 1 Credit
It’s my belief based on my research here that this car could be had for the low to mid 400’s with nothing down based on incentives (Without negative equity). My goal was below 500 month with 1k down and I’m having a lot of push back. They hit me with 599/month after 1k down. Can I get some input? Is it just the negative equity and I need to bide my time?
In that post MSRP is 47k (Aka slightly more than I would have even with the -5000) I’m still coming out with numbers much higher. The commenters in that thread are saying thats not even a good deal and I wish I could hit those numbers LOL. Guess I’m having a hard time finding an exact figure on rebates and incentives.
That post was started months ago and there was a lot of IDL cash on those vehicles. That why those deals were getting done. You can’t go by that.
Assume the Hackr standard of 1% or less of MSRP to determine your deal before adding your negative equity. If you are not in that range then the programs are not very good on the vehicle you are looking at or you have some more negotiating to do on the price.
Your negative is killing you ($30/month per $1000). What is the rate on the negative and how much time do you have left on it? If its higher than the lease rate, it might be worth it even if the remaining term is less that 3 years. Just have to do the math.
Thanks for the info, yeah that makes sense. I asked in the MF/RV forum but havn’t received a reply. Where can I get concrete numbers on incentives/rebates/ and such. I pay about 500 a month against the negative, but have 4 years left. Current car is becoming frustrating maintenance wise, sub 12 MPG, and wasn’t much of a deal. I’d rather roll my negative into this and be done a year sooner if its possible.
Maybe waiting 4 months would create that 60 difference I need.
Ok. It makes more sense to roll the negative. The rate on your loan is a lot higher if your are $500/month and still have 4 years to go on the previous.
It is not likely that you will save $60/month under this scenario considering the terms of your current loan. You will need to reduce the negative by $2000 to save $60/month…
They told me the RV on the car was 74% which in insanely high.Other surprising number was 799 Dealer fee… Having a hard time using the calculator provided, the dealer states I cant simply add the negative equity into the sale price. Got down to 550 a month +Tax with 2k down (Considering 135 from negative equity I don’t think i’m far off). Countered with 525 and when it got declined said i’d shop.
They keep stating that the current dodge promotion of 399 after 2999 due at signing isn’t actually feasible. My logic is 135(negative)+399(advertised)=534 . Is there some kind of lease wizardry that I might not be seeing?
Attached is my possibly erroneous calculations which show an even lower payment. I think money factor is the thing here which isn’t correct.
Ok. This is where it can get a bit confusing about the numbers with the calculator:
-The drive off is the actual amount you have to come out of pocket to get the monthly payment shown. Take the $2000 out of the down payment field and change it so the drive off is equal to your out of pocket. The payment will adjust to the proper amount even with the negative equity.
As an aside, if you want to see what the payment will be with just the first month down, place a negative number in the calculator until the drive off is equal to the monthly payment.
The only thing you can do on that deal is to get them to drop the doc fee as that’s just profit for them and lower discount off MSRP. RV looks damn good at 68%!
Otherwise that’s still a great deal and it’s a hell of a car. I have a Charger Scat Pack and absolutely love it. Got mine during the great IDL cash of January. Mine was $385/month with first month at drive off.
I would actually like the Charger Scat Pack better (have two kids and dog) and found one at the same dealer for $45,570 MSRP. However, was quoted “in the $480 range”…confused.
going to get one on monday for $350/month for a 12k lease challenger scat pack. has the winter package so heated steering wheel and seats as well as side blind zone alert stuff. manual though
Yes the Challenger I’ve been quoted has same equipment as yours plus 8 speed auto and “dynamics package”. But it seems you’re getting a much better deal, what is the MSRP of yours?
Leasehackr calculator says $394/month, so help me hack this deal to be better!