Is this a good deal? Reached out to a couple of dealers here and this is what the test I have so far.
MF is marked up. I’m assuming that selling price includes $1500 lease incentive. Do you qualify for any other incentives\rebates (i.e. affinity, costco etc.)?
- How do the MF, RV and incentives from Edmunds forums for your zip code compare to your offer?
- How does your deal compare to those you found recently on the Shared Deals section and compared to those being offered by brokers?
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 (CALCULATOR | LEASEHACKR), 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.
2 Likes
Selling price includes all incentives. Costco yes.
Deal looks similar to what brokers offer and the edmunds zip code price is very similar too.
you should separate out all incentives from the selling price to see the actual dealer discount. As I mentioned above the MF is marked up from .00096. So there’s definitely more room for improvement.
4 Likes
Yea money factor is way high…
Is that buy rate mf?
This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.