How much of that is just for the car?
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Be up front about leasing. There are way too many differences between a lease and a purchase for you to ask for one thing and then switch to another. You need to know the base money factor and residual, which you can get here by being a supporter or ask on the Edmunds forums. Then figure out what discount you need to make your payment. You need a combination of rebates, dealer discount, fees, money factor, etc. to make that work.
Run it through the calculator, and see if it makes sense.
This is from Edmunds:
.00158 MF and 58% RV on a 36/10k lease.
This is the calculator with that discount, without all the add ons, at 6% tax, and with all the dealer fees.
haven’t got a quote in the insurance but i’m assuming about 350-400$ for car payment
thanks! still a little over my target monthly , that’s why i need to get a better discount. i don’t want to give the dealer any leverage that’s why i didn’t mention the lease
Yes, it makes sense to try to get the best pre-incentive selling price, regardless of whether you finance or lease.
But discussing an OTD price for financing isn’t really the same thing as knowing the pre-incentive selling price.
If case you are unfamiliar with how the money factor and residual value can also markedly affect how much you pay for a lease, you may wish to read LH 101 first.
There is no reason you need to talk about a purchase OTD to achieve this.
what would you do?
Establish a well researched target deal with the lease programs as they apply to me, then make the dealer an offer based on that.
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Sure… So negotiate the sell price based on a lease not on a finance/cash deal. Theoretically speaking the sale price should be the same regardless of the financing method, but they can always change the price if you change your financing option—it’s in their hand.
You realize a lease is going to have an acquisition cost which you’re neglecting by focusing on OTD (sale) price
Don’t some of you have that pre written wall of text that is very detailed to determine a target deal for new folks? Feel like that would help in many of these new posts.
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 to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!! While you’re at it, be sure to watch the LH video to brush up on how to most efficiently use the resources here.
- Pick a specific vehicle that you want to target
- Gather the current MF, RV and incentives from the LH Calculator Rate Findr 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.
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Can you even lease this car with $0 money down at that monthly? If you cannot answer that question, then you should check out Acura broker deals in the Marketplace. How many miles do you drive a year? What lease terms are you looking at? These are some of the questions you should already have answers to.
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I may be called out for spoon feeding you, however, a broker here is offering an A Spec w/Tech Pack with an MSRP of $38K and monthly of $377 w/Loyalty & Conquest. The broker fee would be absolutely worth it.
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i’ve done a lot of research but have took in a lot of different styles and tactics , so i appreciate the silver spoon. can be overwhelming for a newb
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