dealer sent me this quote, they say they are including the ev credit and chrysler employee discount. ive seen the lease deals on these and this seems way to steep and so far seems to be the lowest i can get at $0 down $399/m. any help?
how do they get to a cap cost of $40,xxx from a sale price of $37,920? Theft & Etch is obviously a BS $300. It’s an Ally lease so you should compare it against the CCAP lease options as well
yea im getting the theft and etch off, somehow i looked right over that cap cost issue, going to call and see what thats about aswell as compare to a ccap lease, thankyou
Other than the 16% off MSRP (don’t know if this is purely a dealer discount), I see a 3250 rebate. Don’t know what that is… you need to get some clarity on the 16% MSRP discount and the 3250 rebate. Get the sell price before rebates/incentives/credits.
Also, the monthly contractual payment should be 398.26, not 399.66. I’m fully aware that Ally adjusts the residual by discounting it one month nearer to the present (they’ve been doing it for years) using the interest rate. I took that into consideration. The payment difference of 1.40 is no big deal but should be corrected. Right now, your DAS = 0 and your monthly = 399.66. Remember that your 1st payment was capped in the lease. As such, you have 23 remaining payments.
I would get rid of the 299 theft and etch fee unless you really want it… it’s a BS fee IMO.
Finally, I would establish a target selling price by researching selling prices in your market. The 4% interest rate is marked up. If your credit is good enough, you should qualify for the buy rate which is the rate with 0% reserves meaning it’s not marked up. Once you’ve done your research and vetted the dealer’s hard data, create a lease proposal similar to the one below…
Negotiate via phone/email. Once you’re reached an agreement, ask the dealer to send you the completed lease contract for your review to ensure that there are no mistakes.
I can help you construct the lease proposal if you like. However, I will need you to provide me with the following hard data…
MSRP (get copy of window sticker)
Your researched targeted sell price
Acquistion fee
Dealer Doc fee
Title/registration/license fees
any other fees (e.g., tire fee, flat tax, electronic filing fee, etc.)
All rebates/incentives
Buy Rate
Residual factor
Term
Sales Tax Rate
Disposition fee
Purchase option fee (if any)
Excess mileage rate
Annual mileage allowance
Fund provider
In summary, I don’t like the deal and think you can do better.
EDIT: The Net Cap should be 36572.26 and your base payment should be 375.72. They’re terrific at trying to confuse people. Also, I would look at other fund providers such as CCAP, etc., as @jananth1 suggested.
Your first step should be posting your best attempt at the LH calc showing what your target is.
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Why Ally? Chrysler is $3750 so $500 more than Ally
much appreciated, yes they have been amazing at confusing the hell out of me while im trying to block out all their BS and get a deal done. ill do exactly what you said and ill use a format like the one you sent me, for how slow these hornets are selling the dealers are not as inclined to move them in my area as i thought.
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Good luck!
how on earth are you suppose to generate a lease contract without insurance info?
I don’t understand the question. Please explain. Lease contracts include a section that describes the types and amounts of insurance required but this does not prevent a dealer from printing out a completed lease contract for the lessee to review (GM Financial, BMWFS, Honda, FMC). I request this routinely when I lease and have never encountered a problem except on a few occasions when the dealer refused. So, I just went to another dealer. It’s not uncommon for dealers to send contracts to lessees to sign or to review.
page 2 of a vcfs lease contract lists the current insurance info, policy number, company etc.
If you can ET and generate a lease contract WITHOUT that info PLEASE let me know how.
I can print a buyers order or a lease order form but if you know how to create a VCFS lease contract without current insurance info that would be awesome!
Okay, I see what you’re saying. I always provide the dealer with insurance info (insurance carrier, agent, etc.) after an agreement has been reached. I also ask for the dealer’s completed lease worksheet. I just want to ensure that there are no mistakes making it extremely unlikely that it will be rejected by the fund provider.
Merely providing the lessee with a copy of the completed lease agreement does not make it binding on either party.
Honest question, since you would still be reviewing the documents with 0 commitment to the vehicle, would you be expecting the dealer to hold the car indefinitely while you reviewed everything?
No. That would be grossly unfair to the dealer. All I need is 20 minutes at most to review and will do it immediately upon receipt of the contract. I make that very clear upfront to the dealer.
Hey OP - did you end up getting this sorted? Looking for a similar deal and would love to get some notes!
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