Thats not what that means.
Right now, theyre conflating the numbers and you have no idea how much youre actually paying.
You need to work out how much equity you actually have, so you know how much this is actually costing you.
Finance told me they giving 4k equity. Payoff is 20k and appraisal is basically 24k which carmax also gave me same appraisal
You have to update the deal as zero discount and 5430 DAS. You should treat any equity as your own cash. Research what’s the best discount you can get, negotiate your price with the dealer and then involve your equity.
Your numbers dont add up.
If theyre giving you that sales price, with that incentive, with $4k equity, your monthly payment should be about $290/mo
Okay i just updated and edited the post. Does this make sense now?
I just edited the post. So 44930 MSRP and i put 5430 DAS
What is the sales price?
Finance told me sale price is 39500 which includes my equity.
Sales price doesnt include equity.
If they told you theres $4k in equity, and the $39500 is after thats applied, then the sales price is $43500
If thats the case, your payment with $4k in equity and $1430 in cash das should be $380ish, so that still doesnt add up
The only way this makes sense as a lease is if you don’t really have much equity and the dealer is moving money from one bucket to another. You should know the value of your car. Ideally you should try to get a discount and then involve your equity. Reach out to another dealer and try to get a discount (after you’ve researched what’s possible) and have them match the 5K equity.
Can we assume that MSRP is 44930 and my sales price is 44930 and I’m not getting any discounts?
Sales price is $43500
Then applying $4000 in equity to bring to 39500
Ya, at msrp sales price looks about right.
So that leaves the question of how does an at msrp sale stack up on a qx50 currently and if $4k equity makes sense or not
But you should be fighting to get a discount. First research what’s doable then reach out to all the dealers in your area and tell them that you are trying to get x% discount and then involve your equity which you need to know how much you have.
This doesnt add up, unless there are hidden add ons.
He’s giving me $1430 discount. To sell car at cost it would be $1930 discount but finance told me he’s making $500 on the deal.
The numbers do not support this
I guarantee you he’s not only making $500 on this deal.
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Your calculator shows $4k das