Looking for thoughts on this lease deal I was presented yesterday.
Zip code 12118 - Mechanicville NY
2025 Lyriq Sport 1 - 1500 mi (driven by sales)
36/15k
MSRP$69,805
Discount -$2,972.18 (4.26%)
Selling price $66,832.82
Taxes $1,429.58
Rebates $2,500
DMV $274.43
Doc fees $175
Cash down (tax, fees, 1st month) $3,500
Monthly payment $761.55
If my calculations are correct using the calculator, this imputes a MF of .00338. I’ve had the MF provided to me as .00286. Changing the MF to .00286, with everything else remaining the same, gets the monthly down to $706. Push for an additional discount off MSRP down to $66,000 gets the monthly to $681.
I was almost able to get a lease for the Luxury 1 trim (in certain limited colors) for ~429, 0 DAS. Try to negotiate it down by quoting the leasehackr pre-negotiated deal and they will slash the price down by quite a bit
Have purchased many vehicles over the years, but this will be my first lease. I don’t disagree that 4% discount on a demo isn’t satisfactory. There are so many signed deals reported on here, but I think I’ve only seen one that is 36/15, so haven’t really been able to compare apples to apples.
Trying to be realistic, I’m not particularly optimistic that on a 36/15 lease, with only the $2k conquest and $500 Drive Clean NY rebates to use, that I can get anywhere near 10% -15%. Having looked through Marketplace and taking the fact that it’s a demo w/1500 miles on it, I put together a deal with a 7% discount + $1,000 off. I got to a monthly of $651, with $3,000 DAS (taxes up front, fees and first month payment).
That seems reasonable to me, but maybe I’m being naive to what a dealer may really be willing to do. Anyone else’s thoughts before I put something together for the dealer?
24 months is usually better on these. Definitely need the loaner cash as well as the conquest, anyone can get GM card. Try Otto in Albany they have 3 sport 1 loaners.
As far as negotiating the purchase price, there is no difference in outright buying the car or leasing it. For a dealer, it does not make any difference as they are still selling the car - either to you or to the finance company.
Send offers vs asking for quotes -
What it looks like: “I am interested in leasing a [Car Model, Trim, Options, VIN if you have one]. I am looking for a 36-month lease with 15,000 miles/year. My offer is based on a capitalized cost of [Your Target Selling Price], a money factor of [Your Researched Money Factor], and a residual value of [Researched Residual Value]. Please confirm if you can meet these terms and provide a detailed breakdown of the lease, including all fees.”
Target Multiple Dealers: Send your offer to at least 3-5 dealers within a reasonable driving distance. This creates competition.
Email is Your Friend: Conduct your initial negotiations via email. This creates a paper trail, allows you to think before responding, and avoids high-pressure sales tactics on the phone or in person.
Be Prepared to Walk Away: If a dealer isn’t meeting your terms or playing games, don’t be afraid to move on to the next one.
