New member here and about to pull the trigger on a Velar. Wanted to run these numbers by you and see what you thought. I was able to negotiate 5k off MSRP which is 7%, another 2k off for Spring Bonus. Got the MF down to .00123 (base is .00073) and residual at 55%.
May have a tiny bit more wiggle room left but not sure. Payments are aboit $20 higher compared to the Lease Hackr calculator I used on this site. Not sure if that’s something I’m doing wrong or them squeezing something extra somewhere.
From what I can see, you aren’t getting a $5k discount, they have you paying $5k in cap cost reduction which comes out of your pocket. On top of that, they are marking up the MF? They are giving you no discount on MSRP and only the $2k rebate.
@28firefighter That deal you posted is for a velar with a lower MSRP and a payment of 665 plus tax which is about 50 bucks in my state. So 715 per month. The deal I posted is similar monthly for a velar with a higher MSRP. Am I missing something?
His deal had $2500 DAS - yours has $6888. Adding that $4300 into your deal over 36 months adds about $120/month to your payment.
The point here is you need a much stronger discount and buy rate on the MF. May not be possible in your region, but I wanted to share that as an example of what is possible - heck, you could spend $1000 to ship and still come out $3300 ahead…
@28firefighter I gotcha, are people getting base money factors? This dealer was at .00224 at first so I thought getting it lowered to .00123 wasnt bad lol
Also what would you say is a good discount to shoot for off the msrp?
Ok after more negotiating I got the MF down to .00103 and another $311 off the MSRP so $5311 discount so far. I think if I go in to close the deal I can get another $628 off MSRP for a total discount of 6k, 2k incentive and .00103 MF.
MSRP $64,939
SALE PRICE $59,628 (potentially another $628 off)
AFTER 2K INCENTIVE $57,628
BASE MF .00073
ADJUSTED MF .00103
RESIDUAL 55%
What is the correct MF? You have .00103 in one place which is 2.47% and then .000103 which is .25%, big difference. Money Factors are set, you should not need to negotiate it.
I’m assuming OP inadvertently added an extra 0 in there since he had it as .00103 earlier in the post. Also, dealerships love to mark up MF assuming most costumers don’t know what it is, and if they know what it is they don’t know what buy rate is - so in many cases you do need to negotiate it.
OP - I don’t believe it’s the saving grace that is going to make it a good deal, but kindly let the dealership know you would like to use buy rate MF or you will be taking your business elsewhere.
If you’re open to flying to Chicago and driving it down, LR of Northfield are great to work with and fairly straight forward. They also have much more competition so they wont pull this BS.
