Hi everyone, this is the first time I’m l looking at leasing a car and have no idea if I was offered a good deal.
They didn’t give me the lease sheet but here are some of the details:
MSRP: $23785
Sales Price: $20685
Money Factor: 0.00277
Miles Per Year: 10000
Lease Term: 36 Months
Residual: 54%
Registration Fee: $1004.75
Sales Tax: 7.75%
Putting in the numbers into the calculator it shows:
$355/month with tax
$1359 drive off
5.8 Score
But, from talking with the manager I remember him saying the cost is actually about $1400 for taxes and registration and then you add the first month payment which it closer to $1700+ drive off. There was a $300 fee for something but didn’t know where to put it in the calculator.
On the lease sheet they provided they had the monthly cost of what I would pay if I put a down payment at $1000, $2000, and $3000.
I asked them if the down payment was on top of the taxes and registration and they said no, so I think that’s the drive off cost? And the monthly payments included tax.
So with $3000 down it was just under $300 a month, $2000 down it was around ~$330, and with $1000 down it was $358.
And the dealer said that their finance company took care of Gap insurance and there’s no additional fees for it.
So, I’m kind of lost on whether this is a good deal. From the “Help! Am I getting a good deal?” article, the lease I should be looking for is just over $200 a month with just tax and registration cost, but talking with the dealers they said under $300 with just paying taxes and registration would be hard to do, so $200 sounds impossible. Anyway, can some one with more knowledge chime in? Thanks!