Curious whether people think this was a fair deal.
Alfa Giulia 2018 AWD in Montecarlo blue. Mainly just navigation for add-on.
MSRP: $44,285
Selling price: $38,850
Monthly: $295
Traded in my car for $4k.
24 months, 12k
Residual: 27,457
zip: 94705 (berkeley, CA)
This is my first time leasing. If any other info helpful please let me know. Thanks
Does the $295 include tax?
Are you paying anything the 1st month (drive-offs, 1st month payment, etc) or do your payments begin 2nd month?
That’s an effective $462/mo taking into consideration your trade. Meh deal.
You shouldn’t put any downpayment on a lease (including trade), as you could theoretically lose this money if the car is totaled. For instance, you drive off the lot, get t-boned by a truck. Insurance will pay off the car, but your 4k is gone.
agree - those are Ti Sport numbers not base.
Amounts due 1st month totaled ~$1475 and included:
$295 monthly
$276 registration
$540 tax
$253 licensing
$80 doc fee
$29 reg/transfer
But I haven’t paid anything out of pocket yet. i thought all of that was rolled into my monthlies over the 2 years. My understanding is that $4k for my trade-in and rebates of $3250 offset all of the values above plus $5775 in “capitalized cost reduction”. Helpful/make sense?
Thanks MP. I did in fact ask to not pay any downpayment. I thought trade-in was a separate transactions. But I didn’t have my title w/ me so they asked for a $4k check that they wouldn’t cash but I’d go back and take care of title and they’d give me the check back. BUT, whaddya know, they cashed the check. So, now i do believe the transaction includes $4k down which does actually piss me off.
And luke – thx for that reference. helpful to know.
Not a great deal. You can get the same price for RWD minus the $4k trade-in in SoCal.
That tax number doesn’t look right. Isn’t the only taxable number your monthly payment?
You would still need to pay tax on the value of the trade in.
Thanks everyone. So it sounds like it’s not a very good deal but it also doesn’t look like i was taken. I didn’t think my trade-in was worth $4k so that factored into things (Blue book and edmunds trade in estimates were more in the 2k-3k range). Lessons learned though for the next round to make sure I don’t put anything down. Thanks.
Wait so you gave them your car plus $4k for a $295 payment?
No. They gave me $4k back about a week after the check surprisingly got cashed.