Hey guys, I’m new to leasing and this is actually the first car I’m attempting to lease. If it’s an awful deal, feel free to tear me a new one. I’d also be interested in any pointers you might have for me.
I’ve been negotiating on this car for a little bit and I’m curious how you guys feel about this. I went to the dealership today and this was the lowest I was able to get the price. I told them i would go home and think about it.
Also, it’s not on the sheet but I believe the money factor is .0016.
I have my eyes on one of these as well and there’s not much activity on here. From my perspective, your sales price seems like a great one, but seems to me that they are making some money on other areas. Is your vehicle AWD or FWD? Based off Edmunds, a 36mo 12k/yr lease FWD should be using .00139 money factor and 62% residual (yours is 10k/yr so I assume that would be bumped up to 63% or maybe even 64%–assume 63%). When I plug that into the LH calculator without any taxes/fees/charges I get $294/mo which is right at the 1% target line for most of us.
Of course, there are the taxes, fees, charges etc that need to be added back–but I think the MF and residuals may be where they are making the $$'s on this deal.
There is also some lease cash available ($505 for FWD and $280 for AWD) I didn’t see that in the sheet!!! And they are charging a down payment in there which people on this board frown on.
Let me know if I’m totally off-base or what you find out.
I just received the quote below for a CX-5 GT in the Boston area.
36 months/10k per year and $1,120 plus 1st payment due at signing = $309 per month plus tax or $328 with sales tax
Residual = 63%
money factor = .00139
This is a good deal because the MSRP is 34065 this must be the premium with another option, just like mine.
Discount is $4,582! That is 13.45% off MSRP, so yes it’s a great deal.
It also seems to be 0 DAS, as it looks like $1980 is being used as rebates and just first month is due at signing.
I just bought one for close to this. It’s the premium with some other option.
The sales price is great and it looks like a rebate of 1980 is being applied, which is covering the DAS.
If its 388 all in i think it’s great for the GTP.
Mine all in is 397 for the AWD GTP MG.
It was AWD and the premium package so MSRP was around 34k. They used .0016 money factor. Not sure why. Seemed standard at that dealership. Residual was 62%.
The lease cash I didn’t know about it. Not sure if that was included or not.
Thank you for the input though. I ended up taking the deal because it seemed good based on offers from other dealerships and from what I could find on the internet.
