2020 Stelvio base montecarlo blue
Niro package
sunroof
MSRP $46595
Selling Price $38300
Monthly payment $395 includes tax
Drive off amount $2400
Months 24
Annual mileage 10000
MF .00048
Residual value $26996
It is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, etc.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
- Read Leasing 101 (Blog | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
- Pick a specific vehicle that you want to target
- Gather the current MF, RV and incentives from Edmunds forums for your zip code
- Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
- Plug your numbers into the LH calculator, and use a pre-incentive discount similar to what you have seen
- Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
Any rebates? If so how much? What’s your dealer discount?
Yes dealer rebates were additional 2250 that is factored in
I moved your calc from 1st thread here. Please don’t create duplicate threads.
Thank you Rusty new to here. I was comparing the 36mo to the 24mo. any new advice?
No worries, we can help you with your calculator, just few things I noticed:
- acquisition fee looks wrong, shouldn’t alfa fee be $595?
- is 7% CA tax correct?
- did you verify MF/RV/incentives with Edmunds?
Generally not advisable to put any money as downpayment, however, it’s up to you. Dealer discount looks decent, although I’m not an alfa specialist. Did you see what’s availabe here thru brokers and in “shared deals” subforum to gauge whether that pre-incentive discount is good?
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I was adjusting the MF to get the payment they quoted with the 2400 drive off fees. they did send over the lease sheets for both the 24 mo and 36. They messed up and gave me the 36 month term sheet when we had been negotiating 24, now I’m not sure what is a better deal. I am leaning toward the 24/10 but payment as quoted is nearly identical.
I will look on Edmunds as well thank you!
That’s not how it works. MF is set by the bank, but dealer can mark it up for extra profit. Post lease sheets they gave you. On Edmunds, post in 2020 Alpha Stelvio lease deals thread and ask for MF/RV/Incentives. You will get current buy rate, and then we can determine if dealer gives you buy rate or marks it up.
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When you start manipulating known variables to make the numbers work, you cease to be analyzing the deal at hand. If your numbers aren’t working out by a significant amount, it’s better to figure out the discrepancy in the inputs into the leasing equation than to shoehorn to get the expected output.
Yes, share the quotes for 24 and 36 months!
Alfas aren’t as straightforward to lease as, say, BMW or Mercedes. Lots of hidden dealer cash, rates and residuals that vary by trim level, etc. Although folks often disagree with this approach, I find reviewing dealer ads to be helpful when it comes to figuring out the market price of an Alfa in the SoCal market. With knowledge of the RV/MF of this model, one could probably reverse calculate the discount off MSRP for this deal…
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Michael thank you again for your help did
You see the quotes posted below? Thoughts?
Michael - trying to calculate the MF and it seems terrible considering I qualify for top tier credit. Please correct me if I am wrong but believe calculation is
MF = total cost of lease (14,121.95) / (Agreed vehicle sale price (38,300) + RV (26,996))* Lease Term(24)
In this case this would equal a MF of .0090115 or 21.62%!!
Seems a bit ridiculous for top tier credit am I missing something?
MF=(Total rent charge / number of periods)/(adjusted cap cost + residual value)
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Using that formula, MF appears to be .00035.
On the face of it, this seems like a good deal. 18% off MSRP and no F&I products added on. I don’t know what the buy rate is for this Ally lease, but .00035 is pretty low (0.84% APR).
Probably less than what you’d pay on a Q5 or GLC.
24 months usually seems to be the best option for Alfa even if the payment is slightly higher. The 30k service from Alfa can be pricey and is usually best to avoid if possible.
Appreciate that Michael thanks for doing the math clearly I had it incorrect. 
I do think the 24mo. is better I may see if they can up the mileage to 12k for the same price but might be a long shot. at least overage is just .20 not higher.
Any other tips on shaving anything off?