Hi All,
Just wanted to get a check on this 2025 Ioniq 6 Limited lease deal. I was offered a similar deal on a '24 for a different dealer and these guys stepped up to match on a 25.
Not nearly enough data to do an intelligent and informed assessment. MSRP? Sell Price? Gross Cap?
Sure. MSRP on that is $54500, and it looks to be the selling price as well. With the $12500 rebate incentive, the gross cap then is $42,000. Plugging that in to the calculator give me the same numbers as on the deal sheet and a score of 8.8 years
You’re close but close is never close enough. What is puzzling is your LH calculated residual is 28885 but your purchase option price is 31892. That’s a huge disparity and doesn’t make any sense. The purchase option price usually equals the residual plus a nominal PO fee of around 350. Sometimes, no PO fee is charged.
No dealer discount is reason enough to walk away.
So, you’re telling me that all fees, taxes, etc., are paid upfront and that there are no capitalized fees. If so, the Gross cap = Adj. cap = 42000.
Arer you sure the money factor is .00130 and that the residual factor is 53% giving a residual of 28885? As a super supporter, you have LH access to this information.
If all the above is accurate, then your monthly payment is…
.00130 x (42000 + 28885) + (42000 + 28885) / 36 = 456.46 not 458.92. Something is missing.
Here is what I suggest…
Don’t waste time trying to decipher a dealer’s worksheet or chasing after them. Otherwise, you’re allowing them to control the deal. They often omit a lot of relevant detail such as money factor, fees not itemized and even make mistakes. You need to rely on credible outside sources (e.g., LH marketplace and signed deals, Edmunds, etc.). Do your own research and establish a reasonable selling price in your market. Be sure to get a copy of the factory window sticker. Check for non-factory add-ons or dealer-installed options. And, if possible, eliminate those you don’t need or want. Get a list of all customer and dealer rebates/incentives including VIN#-specific discounts/incentives, if any. And, yes, the dealer has such a list.
No need to pay 3940 upfront. If you do, you could lose most or all of it in the event the vehicle is stolen or totaled. Remember, a car is an expense and a depreciating asset, not an investment. Use the 3940 to invest in goods and services or other more meaningful and productive goods/investments, particularly if you can earn the equivalent of an after-tax rate of return exceeding 3.12% (2400 x .001301 ≈ 3.12%).
Rebates are usually treated in one of two ways: (1) To cover lease inception fees with any remaining balance used as a CCR, or (2) Use the entire rebate as a CCR which is what your dealer has done. Option (1) is a complex calculation and I’m willing to provide the formula if you like.
I recommend that you craft a lease proposal (example below) and email it to the sales manager (SM), not a floor salesperson as they’re often order takers and lack knowledge.
All numbers should be accurate otherwise, you’ll lose credibility. Negotiate via phone/email. Once an agreement is reached, ask the dealer for a review copy of the lease agreement and all contract addenda BEFORE you go to the dealer and sign. Moreover, it’s helpful to know the terms and conditions of the lease contract such as early termination liability criteria and purchase option criteria as well as lease amortization methodology and excess wear/tear criteria. If all is as agreed, tell the SM that you’ll come in to sign right away. You don’t want any surprises or dealer excuses like …. Oh, we made a mistake. That’s unacceptable and shouldn’t be tolerated.
If the dealer isn’t transparent or is uncooperative or showing signs of incompetence, WALK AWAY AND MOVE ON!
Leasing is time-consuming and requires a good deal of study and attention to detail. If you don’t have the time to commit, perhaps your best alternative is a good broker. There are some outstanding brokers on this website. However, if you’re willing to commit your time and resources, always control the deal. That can only be achieved with education which breeds confidence and increases the likelihood of success.
I finally got the numbers
So the MSRP is $54,500 and the selling Price is 55,019.40
With a MF of .0022
And Residual of .58
The hacker score is still 8.8
That sounds F%#king exhausting I don’t think I want a car anymore because of BS dance.
Horrible. This car is over sticker. That’s a joke. Don’t sign. Find a broker who serves your region.
Then no car for you I guess
Yeah doing the dance now on the Ioniq2025