How is this deal looking? It is a standard 36 months,12,000 miles per year, and 0 down payment agreement. I received it last night.
2018 Toyota Camry Hybrid Se (Ruby Flare Pearl exterior)
Residual: 55% or $16,235
Term: 36 months
Money factor: 0.00001
Cap Cost: $26,680
Add to Cap Cost: $1,160
-breakdown ($135 Title & registration, $375 documentation, and $650 acquisition)
Adjusted Cap Cost: $27,340
Base monthly rental:$308.91
Sales Tax: 6.25% (MA)
Total Sales Tax: $695.16
Payment Amount: $328.22/mo, 0 down payment
After talking to a salesman for a while, I managed to talk to a sales manager. I asked for 10% off the msrp (26,567), a residual of 55%, and a money factor of 0.00001. He then proposed this agreement, and said he couldn’t go any lower because the cap cost was at his dead cost. He gave me the following information.
Dealer Price: $25,715
Special Color: $352
All weather Floor Liners/Cargo Tray: $188
Total Accessories: $540
Destination charge: $920
Total Price: $27,568.42
Dealer Holdback: $605
Note: Holdback amount includes PPO Holdback: $38
Wholesale Financial Reserve: $284
He subtracted the Dealer Holdback (605) and the Wholesale Financial Reserve (284) from the Total Price (27,568.42) to get a dead cost of $26,680.
I’m not sure if this is a good deal or not. What do you guys think? If not, how would you recommend I counter?
Thanks in advance.