Looking for some feedback on this deal. I currently have a '16 Hyundai Tucson, lease ends June 19, payments at $375.00. I know it’s best for me to wait until at least April to really start looking but I fell in love with this car as soon as I saw it. Dealer is also offering $1,500.00 to payoff the Tucson.
He told me there’s a $995 bank fee upfront, it looks like he’s burying that in my DAS. Also, they have a $995 acq fee which is buried in the lease. Assuming I can negotiate these two items out, is the lease worth it? Can I negotiate any more off MSRP?
Yes, the dealer is paying off the 1500 payments that you owe. However, they are capping this amount in your lease which means you are really paying it. Here are my calculations which you can rely on…
You are paying 3216.77 upfront. This amount is itemized in my spreadsheet. Note that you are making a 995 cap reduction which, coincidentally, is the same amount as the acq fee. The dealer and I differ by 3 cents which is attributed to rounding convention. The dealer is capping the following amounts…
acg fee… 995
payments… 1500
appearance… 399.98
I don’t see DMV fees listed.
Questions? Please let me know.
[Edit: acq fee is inflated by $300. You need to get the sell price down considerably… it’s a bad deal]
8.625%? Are you in Nassau? Curious as to what dealer this is. I got mine in Nassau (2017), and my dealer was a pleasure to work with. I’m more than happy to give you a referral.
I had a feeling the acq fee, and payoff were getting capped. I really appreciate the breakdown.
What is an appearance fee? I’m not sure how much more they will budge on a '19 S60 in January. I’m probably going to wait this out until April, hopefully some incentives on it then?
The appearance fee is optional. Here’s what I’ve learned…
The plan allows you to avoid the time and expense of a body shop appointment to maintain the appearance of your vehicle. I assume the fee covers your vehicle for 36 months. The Service Plan includes:
*ding and dent repair with unlimited repairs to the hood, trunk, doors, fenders, roof, and quarter panels for the length of your Service Plan. Does not cover any area of the vehicle made of composite material (i.e., bumpers).
While your vehicle is undergoing covered repairs, reimbursement of actual rental vehicle costs for a maximum of one day not to exceed $50.
No out-of-pocket expenses with covered repairs. Prior approval for service is required.
The Plan is limited to steel or aluminum body panels and repairs are subject to accessibility. Dings, dents, or creases that have punctured the metal or resulted in visible paint damage are not covered.
Glen Cove is very difficult to deal with. I’ve used them on two different occasions and would not recommend them unless you really know what you’re doing.
Yup, move on. And, like @mp11477 said, get rid of that appearance package… it’s way over priced. Besides, I think Volvo leases may have an excess wear/tear forgiveness amount… $500?
I’m surprised. I was actually going to recommend Glen Cove. They were the only dealer that was straight-up with me when I was shopping and gave me a great deal. I’m still going to shop other dealers, of course, but at least I’ve already bought one car from them.
Here is the food for thought for you: $2,500 S60 loyalty (NE)
But I’d still wait, if I were you.
Edit: there is no $750 allowance in NE, it was a typo in bulletin. But there is $750 in mid-Atlantic with $500 loyalty.
I’m surprised, @nyclife, but you’d definitely have more experience with the dealers in the area than I would. Again, they were nothing but up front with me and the only dealership that didn’t play games.
But if you can get me a deal on an s60 or a V60, maybe a V90, I’m happy to come to you, Quentin! I still have some time to wait until my lease is up, but I’m willing to move for the right deal.
Ramsey is a joke. I was comparing quotes on leasing a 2016 XC70 when it was an outgoing model and some salesman commented “It’s gonna be tough to deal on those, very in demand.”
It went downhill from there. They agreed to match another dealerships price but came back with some intoxicated 4 square lease number of like $750 a month. I told the guy to go back to his manager and he came back with like $550 so I ripped up his 4 square paper in front of him and walked out.
