Can the money factor and residual value change by a large margin each month on a certain vehicle? I have a new car I plan on picking up and signing the paperwork for on the 31st this month. I went to the dealership this past weekend to test drive it after I worked out the price over the phone.
My lease ends January 2 and my only concern was what if the money factor changes to be really low January 1. Right now the MF on a 2019 camry for me is .00179 and the rv is 64%. If I wait January 1st to sign the paperwork, is there a good chance the MF and RV can change drastically? I feel like it’s a risk not worth taking, as I could potentially end up having to pay more for the agreed upon price if I wait one extra day.
I’d be surprised if the MF increased from 0.00179, which is already pretty high. I don’t know about Toyota, but I bet their December lease programs continue through the Jan 1st holiday, maybe change on Jan 2nd.
Have you run your deal past the hackrs here yet? Checked to see what the MF and RV are for the Camry you want? Checked the incentives for your zip code on the edmunds.com forums?
I already did my research thanks to a kind user on this site who had the patience to explain everything to me via PM. Right now, the best deal I can find on a 2019 Camry SE is $285 a month, tax and all dealer fees, registration fees included in the monthly price, $0 down and first month payment covered by dealer. So basically 35 payments at $285.
I’m emailing the manager today just to double check that he put in my $1000 incentives correctly and to also get the official invoice which lists all the numbers on it. I want to know what exactly am I paying when I sign on the 31st. I think I’m paying nothing but I need to make sure. They are pretty upfront this big Toyota dealer, they include all taxes and fees into the monthly advertised price with nothing being excluded. I’m only getting 12% off the msrp of the car. This is currently the best deal in my area, I check with 3 other Toyota dealers in my area. Acquisition fees and doc fess in Florida are unregulated and crazy high BTW which I knew about ($900 and $800).
Hyundai dealers in Florida have a MF of .00226 for the 2018 and 2019 Sonata and Elantra. They both only have a RV of 46% and 50%. I did the math when the dealer gave me those numbers. It’s over $350 for a 2018 Sonata SEL.
Well you can call them here and ask them yourself lol. I told them exactly that and they thought I was crazy. They said “well maybe we could get a based trim 2019 elantra at $250, but a 2018/2019 SEL Sonanta, I never heard of one leasing with $0 down for under $300”. “What, it’s not possible to get an elantra down to $190 a month with $0 down”.
I asked them to please send me the invoices for the 2019 models since they said it may come out cheaper with the MF and RV any they never did. In fact they first told me if I was interested in the 2018 since I could save money. The MF on those cars right now is sky high and the RV is way too low, I don’t see how they could be pushing out those cars even with the generous rebates going on for those models. I much rather have a 2019 Camry SE, plus my disposition fee is waved.
Talking leases with dealers is like an algebra test. Your just giving them the answers. You have to show your work. Your going to keep getting treated like this until you convince them you can calculate the lease yourself.
The only thing I can’t think of is how to go about dealers you’re working with to get them to lower the sales price more even after them pleading it’s as low as they’re allowed to go. I assume if you keep pushing they’re going to tell you to pack sand and stop dealing with you unless they’re desperate to move inventory. Any tips on what else I can say to push them lower? I checked the sales price for the camry in my area and I’m well within the average price range according to Kelly Blue book.
LOL, I just forwarded my proposal for the camry to my old Toyota dealer that I’m currently leasing my 2016 Camry from. I feel kind of bad going behind the new dealers back back, they did give me a pretty decent deal and they’re expecting to sign on the 31st. I already had them pull my credit too. There’s two other dealers I know of but they treated me like hott garbage, not sure if I should contact them.
