Good evening, I already went to two separate dealers to try and figure the math out, but can’t seem to figure it out. I was quoted for the cheapest 4xe 679/month for 48months with 3500 down including rolling in 6200 for miles on my current lease. They also said my money factor was .00167 or about 4%. When I plugged the numbers in the calculator I got 526 for 48/mth with 0 DAS. Is my math wrong or am I missing something? They called earlier today to ask what can they do and I told them show me how they got their numbers and am still waiting on a reply.
The numbers in green are what I’m trying to wrap my head around.
You could ask that question of stellantis dealers all day. A lot of them just refuse to accept the market.
I would recommend you stear clear of this one. Look on the signed page at what these are going for, use the calculator to put together your ideal offer, and present that to some other dealers around you.
What does this mean? Could explain why your quote is so crappy. Also please don’t do a 48 month lease on one of these unless you like pain and suffering.
How did you figure that $6200 number? Is that the contractual obligation for mileage coverage, or is that your negative equity?
If it’s just the contract amount, you can ignore that for now and try to trade the vehicle instead. Get quotes from local dealers to purchase your current leased vehicle, as well as quotes from carvana, CarMax, driveway, etc. This should give you a rough idea of what the current vehicle is worth.
From there, determine which is cheaper for you, trading it in or returning with the mileage penalty.
Go the route I recommended and look for trade values. Might end up being a much better option. Even if you have negative equity, rolling it into a GC lease that has very low money factor is at least a somewhat decent way to deal with it
