And if you go to edmunds, YOU need to ask for the terms for YOUR zip code.
Lots of people will go, see a post from a month or two ago of a similar vehicle in a zip code across the country and try to use those numbers thinking that that’s the same thing as actually asking themselves.
I specified all of that information,
Zip Code, Trim, Model Year, RWD, etc etc.
Since the RV isn’t something that can’t be negotiated, maybe just ask why the dealer is citing 55% when your understanding is that it’s 57%?
That is what I meant, negotiate the MF to base and question the RV.
Oh it’s a RWD, I’m sure it’s 55% by now
What the forum is trying to tell you is you need to seek out education on leases here and other places prior to leasing a vehicle. There are so many facets of a lease deal that its easy to get tripped up if you don’t know more about leasing than the salesperson / sales manager you’re working with.
You’ll often find that a lot of sales people you speak with don’t even understand how leasing works. You’re currently standing at the peak of a very tall tree and are about to fall and hit every single branch on the way down if you sign a deal without understanding what you’re signing. Good luck
This information was verified on Edmunds last night… RWD 36/10k .00100%/57%
Wouldn’t this only change from month to month?
Yes the numbers change monthly and if this is what Edmunds says for April then go by their word and take it up with the dealer as to why they are quoting you 55% and offering 39 month.
There’s a misunderstanding somewhere as RV can’t be changed or negotiated.
*I believe the deal can’t even be funded if it’s incorrect (someone correct me if I’m wrong with that statement).
Yes, however, it’s the beginning of the month so things just changed. Timing of when you asked Edmunds vs talked to the dealer matters.
Thank you for the input and information everyone… Here is what I’ve learned since making this post.
Did I miss anything important?
In terms of incentives, I suppose that I should first try to negotiate the price of the car as cheap as I can before having the incentive applied?
Let me know, Thanks again everyone.
All things being equal, a higher RV will give a better lease, but in practice, it’s only one part of the puzzle. A lower RV with a lower MF and higher incentives may be a better lease than a higher RV with a higher MF and lower incentives.
Also, you don’t need to always get buy rate MF. You do need to know what buy rate MF is to make sure than you make up for any mark ups with an appropriate discount. Some dealers are incentives to make more money in marked up financing, so you can use it to your advantage if you understand the variables
I’m still new to all this myself, but I would say, “The monthly should flow from the negotiated sales price.” Meaning, if you feed the numbers into the calculator, and the monthly quoted by the dealer is way higher than the calculator monthly, you’ll want to see if/where the dealer is working in additional profit. Ultimately, the only thing really matters is the total price you’re paying over the duration of the lease (IMHO).
It’s “okay” if the dealer marks up the MF b/c they presumably need to make profit somewhere, but the closer you can get it to the buy rate, all other things being equal, the better the deal (and sometimes the dealer will offer you the buy rate).
The rest seems correct to me.
You listed a nice foundation of leasing knowledge to build on👍. Now just keep up on the reading and when you’re ready bring back a deal here BEFORE you sign if you’d like some feedback on it.
Isn’t the RV issue due to the fact that the dealer is using the 39-month RV and Edmunds only has 36?
Haven’t nailed the reason down yet. OP says Edmunds said MB doesn’t A) offer 39month and B) the residual should be 2% higher than dealers quote.
Not sure where the disconnect is… too early in the month for the new numbers, dealer quoting AWD vs RWD, wrong terms or what🤷♂️
Finally got the dealer to cough up the itemized fee sheet.
When I plug in the numbers to the Calculator I come up with a payment that is $10 cheaper. I believe its the “Inception Fees Due (Added To Cap)”
I understand the .00050% mark up on the MF. I suppose that is to make up on the “front end lost”.
What do you fellas think?
Can you guys spot anything else to question?
EDIT: I am confirming on Edmunds the MF and RV. Originally I requested my home zip code and not the zip code to the dealer.
Are you in a position to wait for better deals?
@max_g Enlighten me… How much better can a deal like this get? The discount is roughly 15% off MSRP… How much does MB usually discount off MSRP?
I suppose the deal would be better if next months MF is lower.
A “15% discount” is not the same thing as “15% discount at max MF markup with $949 in dealer fees”
Also, is that the pre- or post-incentive discount?
You need to get about 17-18% discount to make up the difference. They probably won’t adjust dealer fees so your best bet is to get more discount and/or lower MF.
Did you figure out how they’re offering a 39 month term if Edmunds said MB doesn’t offer one?
