I Inquired about a lease special that I saw on a website last week that I thought was too good to be true. The salesman stated it was a “loss leader” and they write it off as a marketing expense. I was very skeptical at first. I put a deposit down to hold the special while we talked details. We got off the phone today and he confirmed for a 3 year / 12k mile lease was $288.46 a month for a 2019 Ram Big Horn Crew Cab 4x4. The original price was $289 a month, but he factored in their $500 rebate since I was coming from a competitor and it pretty much cancelled out adding the extra 2k miles a month, It actually came out roughly 50 cents cheaper. I only have to put down 1k with first month ($288.46). It’s a very basic Bighorn, the configuration wasn’t great, however I thought this was an exceptional deal. I have included a link which confirms the payment and buy out price. Is there anything I should be worried about before sealing the deal?
You might want to change the title to the make and model you’re considering. Loss leader / ad special isn’t descriptive at all
Anyone? Anyone?
I don’t follow leases on this, so I can’t say whether it’s too good to be true or not.
However, when I negotiated a lease for my parents (Subaru Outback), here’s what I did:
After agreeing on sale price and terms with the internet sales person who was going back and forth with the General Manager, I asked if I could speak with him directly. I then confirmed the following with him by phone:
VIN, MSRP, Color, Condition (new/demo), Months/Miles, Due at Signing, Acquisition fee, MF.
While I was talking to him, I told him that I would send him an email with the details we just discussed by phone and that I would like him to respond to the email and confirm that everything was correct.
Here’s my email (somewhat anonymized):
Hi Joe,
It was great talking with Ashley and then you regarding the Outback lease and ending up placing a deposit down on the lease for my parents. I’d appreciate you going over the details below and confirming that they are accurate. My parents are very excited to take delivery of the car on Tuesday.
Thank you,
AB_hackr
Stock # : XXXXXX
VIN : XXXXXXXXXXXXXXXX
Exterior Color: Crimson Red Pearl Interior Color : BLACK
36 month / 12,000 miles/year Lease
$31,695 - MSRP
$26,486 - Sale Price
$595 - Acquisition Fee
$27,092 - Net Cap Cost (includes $11 tax on dealer fee)
$18,700 - Residual (59%)
0.00040 - Money Factor used (assumes excellent credit)
5.5% - Dane County, WI Tax Rate (Zip 53704)
Monthly Payment including tax - $264.93
Due at signing (DAS):
$264.93 - First month payment
$154.60 - Title and Registration (new plates)
$175.00 - Doc Fee
$594.53 Total due at signing (DAS)
Other option is to ask them to email you the actual lease worksheet or a screenshot of it. Here’s a link to what it will look like: Dealer says MSD is a saving's account
That will itemize all of the info above, plus a little more. I felt more comfortable having an email from the General Manager approving the deal in writing prior to having my parents drive 2 hours each way.
The only thing is it is probably not from Chrysler Financial. Here is the advertised price from the official website for Idaho.
Does not look bad but without all info like selling price and residual tough to judge. What are rebates?