Do the trade as a separate deal, either with them cutting you a check, or through another party like Vroom or Carvana. My understanding is that the 36 month leases are where the subsidized action is at on most EVs or PHEVs. You need to get a breakdown of the entire deal. Selling price before rebates, rebates being applied, residual, money factor, etc. I don’t know how many miles you are looking for, but a 36/12k lease on a Base Clarity should have a MF of .00047 and a residual of 42% (41% for Touring). There should be a total of 7800 in lease cash, plus an additional 3000 dollars in Northeast lease incentives, plus an additional 1700 in New York State EV incentives (Drive Clean Rebate). There is also the college grad rebate if you qualify, plus there is apparently Honda loyalty out there if you qualify right now, though I don’t know if the Clarity is eligible. Maybe @HondaSoCal could verify yes or no? That’s a lot of cash on the hood, which is good, because the residual on this car is terrible. It needs all that cash to sell. (In my opinion it is a nicely equipped sedan, even in base trim, though some have disagreed on certain little things). You need to get the selling price BEFORE all that cash is applied. All those rebates cost the dealer nothing. A Base Clarity can be had for around 31k before rebates, although NY dealers have proven a bit stingy with the discounts because of the extra Drive clean rebate, as if they are doing you a favor applying it. Maybe with the end of the year approaching things could change though. Reach out to multiple NYS dealers for their best selling price BEFORE any rebates and all incentives are applied.
Have you looked into the 2019 Hyundai Ionic Electric? I ran the numbers last month and you should be able to get it under $300. Not sure if it’s available in your state though.
Honda Loyalty cash $750 if someone in the household has a honda lease that matures between now and 5/31/19. Doesn’t have to be returned at that time or be the same person. $750 good to lease or finance on any new 18 or new 19 Honda
So if you happen to have that in your household, and the college grad stacks with it on a Clarity, that’s a lot of money to play with. Just gotta find one on a lot in NYS and take advantage.
@ElectricEliminator once I learned about it, I have been asking for the college grad rebate. Unfortunately we don’t have any Hondas in the house, so I can’t cash in on that. Thank you for the advice on the details of the lease. This is what I was quoted on a Leaf from New Rochelle:
Selling Price- $32,795
Total Rebates offered- $14,700
Residual- $11,470.25
Money Factor- .00258 (based on Tier 1 credit)
Trade Equity- Yes, if available can be applied toward money down
College Grade discount- Yes it is avail @ $1000 ( need transcript or Diploma)
Any good? Is it typical to have a down payment or are they best to avoid?
Thanks again!
Sam
A dealer that will give you the college grad discount with just a diploma? Where’s that?
Proof that you received the degree within the last 1-2 years
Just for curiosities sake, I got quotes on the Leaf and Bolt. It’s slowly getting closer to my budget. Thoughts on how the two compare or which is the better deal? Any points I could negotiate farther?
Leaf:
$2000 down, $1400 trade equity
24 mo. lease, residual value $14,131.95 , $249/mo.
36 mo. lease, residual value $11,502.75 , $276/mo.
current rebate totals $14,700 (includes NMAC lease cash, NYS rebate, College Grad)
Bolt:
Usually the advice for Carvana and Vroom is because the Leaf or Bolt dealer gives you “equity” on this side of the equation for your trade and then hammers you for more money on the other side of the deal or gives you something below market for it. If you do the transaction via Carvana or Vroom that’s cash in your pocket to bring to the table.
I haven’t looked into Bolts or Leafs (Leaves? Lol) but just for fun, how many are on those lots at the MSRP you’re looking at? Wondering if they’ll play the scarcity card with you.
I just got this quote on a Bolt. Does it seem like a good deal? The only off thing that happened is the sales manager had told me via email that he’d do $33,000 before rebates. But at the dealership they said the $2000 NY state rebate was included in the selling price.
You may want to redact out your personal information…