do we have more info on the Factory reduction below MSRP that @vicks mentioned?
also is it confirmed that the $1000 bonus tag is nationwide now?
Two dealers in my area said they have a select number of vehicles to apply the $1000 bonus tag on. Both have offered it to me on the Equinox I want, but they needed to confirm I’d lease by Monday (12/5) morning before they would apply it on that one. If I didn’t let them know, it would be applied to others on the lot I may not want.
This is a very limited offer but there is $500 GM bonus cash available to people whose car was damaged during Hurricane Matthew. You need a copy of the insurance claim to qualify.
Found the info on Truecar.
Expires 1/3/2017
Got mine today in NY, $198 a month, 24/10k zero down, first month on them and 700 coming back from Costco.
It’s not as sexy as others but good enough. Spent several hours and three dealerships. For what it’s worth, trax came in at $175.
Alright Leasehackrs, after trolling around this forum for the last month and seeing the amazing deals made I decided to take a stab at it.
We went to one of our local dealers to make a deal. After the test drive and initial offer, I laid it out for the salesman. We were looking to trade in our 2013 Ford Escape (about $1500 negative equity) for 2 new Equinox LTs with prices based on what I learned here(We also have a Hyundai lease with 6 payments left for the conquest cash on the second Equinox, but is so upside down we’re going to eat the payments until we turn it in). They actually came back with a pretty decent offer, but the money factor did not line up, adding about $33 a month. The manager did the typical “I’d be losing money if I did anything less.” So we told them we’d think about it and walked out.
Location: Northwest Ohio
MSRP: $30015
Sale Price: $28100
Incentives: $5450 (I think it breaks down to $2000 conquest, $1700 lease, $1000 bonus tag, $750 incremental)
Net Cap Cost: $22650
24 month/12,000 miles
Residual: 65%
Money Factor: .0018 (Told me standard MF is .00125 plus .00055 for waiving acquisition fee)
Monthly Payment: $207
Drive Off: $1115
Tax: $760
Doc Fee: $75
License Fee: $72.50
First month: $207
Plus $700 Costco card would make for $415 effective drive off
So overall I thought this was a pretty solid offer except for the Money Factor, which is clearly being marked up. If they come down on that it puts the payment at $184, just a little higher than the $170-175 I was shooting for. I’m hoping they’ll come back to me on Monday with a lower MF. Also, they said the Bonus Tags needed to be assigned to vehicles on Monday, so if we wait to late we won’t get to pick which vehicles we want it applied to and will have to pick from the ones they select. If anyone has any advice or maybe know of a dealership that is within a few hour drive of Northwest Ohio that might deal in the prices we’ve seen posted here would be welcome.
Show them this, then say they have one more chance to sell 2 Equinox’s to you. Then say you will give them perfect scores on the 2 customer surveys you will get in a few weeks if they make the deal happen with the correct MF.
I bet they cave.
Currently getting quoted 930 out the door (including fees/1st month payment) and $180/mo after tax in FL on an LT with an MSRP 29,480. Sitting at 2yrs/15k I didn’t dig too deep or negotiate further as I wasn’t looking at closing today but the MF was at .00070 and like mentioned above they will tag any car on the Monday or prior. I did not have Costco incentive/rebate into this price as I am not a member so keep that in mind as well.
Currently leasing a Civic that’s up in 4 months, not sure if best to eat payments and rent out on Turo (still has 5k miles to use up)
Price dealer in buying out and rolling any negative to payments
Or turning in early ( probably the worst idea )
@lindsford what’s so special about the date 12/5? Do the dealers have to hit a quota by then or what’s the story? @CousinStavros mentioned something about 12/5 as well.
Sounds like that the date they have to assign bonus tags, otherwise they lose them.
They have to assign tags by then. You can still get the same deal but they don’t have as much flexibility to pick the exact one on the lot you’re looking at. The manager I spoke to today was much easier to work with than any car dealership I’ve ever been with, salesman was kind of in the backseat from the get go in the deal watching but he was not pushy at all and was happy to work a deal.
thanks @Lindsford and @bro1999 for clarifying. If i understand you correctly the dealerships have a certain amount of bonus tags they can assign to any car on the lot, not just equinox models, and by monday they have to assign them and after monday you can only get bonus tag money on the ones they ended up assigning that day?
Also, i don’t know if everybody noticed, @TR10 's deal was around $150/mo tax incl for a roughly $30k car 24mo/10k, all the reports I’m seeing now are closer to $200/mo despite the extra loyalty/conquest + extra bonus tag $. Sure when he did his deal it was still at 67% residual and some are opting for 12k instead of 10k but given the extra incentives it should offset that and more. I mean we even have @Insolvent at $100/mo, i just don’t understand why the average price is going up and not down, especially if we’re approaching the end of the year. It’s hard to get a base line idea with the numbers all over the place like this.
I haven’t started shopping and i am going to start tomorrow but i’m surprised seeing the trend go the wrong way. Maybe most people here have a “it’s good enough” attitude but when the cruze deal was floating around last year I don’t remember it being all over the place like this.
Dealer discount is more of a variable this time. I think the key is to get at least $3k off as a dealer discount.
I think My price is a little higher because I don’t have costco, I put slightly less down, residual is a little lower and I opted for 15k, I think If I had Costco and went for 10k i’d be right on the money with his deal, or maybe beat it. Dealerships seem eager as the year gets closer to end as the 2018 Model is around the corner and will offer turbo and diesel engine options getting rid of the 2.4L 4cyl they have now.
Looking forward to seeing other’s pricing =)
@bro1999 so you’re saying the real differentiator here is that someone who gets $2000 discount and someone who gets $3000 discount has roughly $40/mo more off/mo?
What do you think would be considered excellent discount? @TR10 got $3k off (about 10%)
Well, $1k difference over 24 months is $41/month.
I think $3k is a good goal. Anything above that is gravy.
I contacted the same dealer as hackr (thanks for pm). Because I have a current Chevy lease I got an In-freaking-credible deal on an Equinox LT with convenience and safety package with power lift gate.
MSRP 30075
Sale price 27075 (10%)
Incentives 5450 (1700 lease cash, 750 incremental CCR, 1000 bonus tag, 2000 loyalty cash)
MF .00125 (waive acq fee)
Residual 66%
24 month 10k a year
$850 drive off
$129.25/month before taxes. $139.xx after.
I’m also a Costco exec member so he did the legwork to get my auth from Costco to get the $700 cash card.
I was working with a dealer up here who had a similar car available and seemed willing to work with me, but kept trying to make me find other quotes instead of just giving me a good deal up front.
I have to drive down to SoCal to pick it up but it should be worth it, gonna so a mini vacation with the fam. They worked with me so I can drive down next weekend to finish off the paperwork and pick it up.
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Great deal! So bonus tags are confirmed to be $1k then?
@jfox can you please PM me dealer info and sales rep if possible. Having a hard time getting MSRP discount to 10% in NY. What was your final breakdown?
Here’s the deal I’m being offered:
LT MSRP 28980 (basically an LT with convenience package)
Selling price: 26992 (about $1988 discount or about 7% discount)
$2000 conquest
$1700 CCR
$750 inc CCR
$1000 bonus tag (he had unassigned tags and was going to tag it for me to the car i picked)
total rebates $5450
acq fee waived MF 0.0007 bumped to .00125
Total out of pocket $1000 (first payment and tag and some other state fees but also incl $110.87 cap cost reduction).
I wanted to roll some of it into the lease he wouldn’t let me, saying that it costs him money somehow, didn’t really understand it and i didn’t inquire.
What i tried to do is roll $400 into the payment and sell my costco card for $600 making it effective $0 drive off but he didn’t want to do it.
24/10k $157/mo incl 7% tax
24/12k $170/mo incl 7% tax
The incremental discount below MSRP is supposedly worse than using costco which waives the $595 fee. He said you can only do one. I didn’t ask him to price it out using below MSRP rebate, maybe i should have instead of just taking his word for it.
Deadline is tomorrow to assign bonus tags so I need to make a decision. It was the sales mgr i spoke with and he held strong at 7% discount and i’m also not liking the unwillingness to roll part of the out of pocket expense which also incl $110 in cap cost reduction. So i’m not sure if i’ll move forward. Just wanted to get some feedback.
This is in FL by the way.