I’d like to negotiate and see how close the dealership is willing to get to the manufacturer’s price. I know they need to make money too, but I’ll see how much they are willing to budge. If they match the manufacturer, that’s roughly an 8% discount.
I will not be putting any cash down. If possible, I will also decline the Road Hazard and Environmental Protection packages. Acquisition fees are negotiable depending on the dealer, so I’ll try to see if they move on that number and also ask if that fee can be rolled into my monthly payments instead of it being an upfront cost.
Money Factor
MF may be non-negotiable with some dealers, but I’ll see what I can do. The market nowadays allows for 0.00373 (or 8.95% APR) which is quite high for my credit rating, but I’ll try my best to talk them down if possible. Aiming for 0.0025 (or 6% APR) or lower.
Am I planning on doing the right things?
I’m new here and this is my first time leasing a vehicle. It seems daunting. Any advice is really appreciated. Thanks for any and all help everyone and thanks for welcoming me into the community here.
Could be wrong but I feel like the equinox leases better than this. You’d spend almost 17k here to drive a base bottom tier Chevy. Maybe consider a broker. There 60k Jeeps leasing better than that.
At this moment before negotiations TCO for the duration of the lease is close to $17k for $23,5k MSRP car.
I would consider buying this using promotional APR provided by Chevy.
Last week my family member got loan for Trailblazer for 36 months with 1.9% APR.
36 months at 1.9% APR is a good deal, but it’s not offered on the Trax. As for the Trailblazer, the monthly payments of $600-$700 are a bit outside of our price range unfortunately.
You can always put $4k down.
The payment will be $200/m more but after 3 years you have car with let say $15k equity.
On the general note, from Financial perspective it doesn’t make sence to lease low MSRP cars.
Please keep in mind that the photos posted above outline the initial offer from the dealership before any negotiations and is not a deal I would accept.
I’m looking to get a 5-10% discount on the MSRP, put $0 cash down, remove extra features such as the Road Hazard and EP packages, and negotiate a lower money factor if the dealer is flexible on their number.
If these terms are met, the TCO is closer to $12k.
If I negotiate better terms, is it still a bad deal?
IMO the first thing to realize is that most cars don’t lease well. It really doesn’t matter how or how many times you try to negotiate. RV is set in stone. As is buyrate MF.
I’d recommend becoming an LH “Supporter” to access all the functions of the LH calculator. Then post a link to your calculator showing the results from the above inputs.
