I’ve leased twice, both times through the parent financial company of the manufacturer.
I stopped in to test drive a vehicle and chatted with a sales lady. She mentioned that they use a different bank for leasing. I was shocked.
I emailed another dealer late last night/this morning and they also mentioned that the parent financial company isn’t offering as many incentives and so they are using a different bank.
I use the calculator here and I post for info on Edmunds like the MF/RV etc. One of the mods on Edmunds said they ONLY have the information based on the financial instituation that is part of the company. If another bank is envolved, they can’t see their rates or incentives.
So, is there a way to get this info? It’s frustrating doing all this research and making an offer to sort of have your legs kicked out because the info you researched isn’t correct because they aren’t even using the company’s financial institution.
But unlike financing, you can’t choose which FCU, right? Like getting a pre approval essentially. You’re just sort of stuck with whoever the dealer goes through for leasing? At least thats always been my understanding.
It would really help if you would list the vehicle in question for more constructive feedback.
Ally & US Bank are two major players in the auto leasing world. In addition Stellantis is now a standalone captive and Chrysler Capital is still available as an option in which the bank behind the money is Santander.
At one point I think a few people had access to Ally rates or their was a link for Ally / CDJR available. Many times there are more incentives available however they typically come with sky high money factors that offset the perceived savings.
She also may have meant that Ally or US Bank was paying a larger incentive to the dealer now for originating business and that’s why they are steering customers to a crappier program.
I’ve seen so many insane discounts on the Hornet, I thought I would at least kick the tires some.
The information I gathered was MF/RV and incentives via Stellantis.
The girl I spoke with insinuated that they used another financial company (did not specify and we were just chatting, not running any numbers or anything, I told her no from the start) and the dealership I emailed said they use Ally and not Stellantis.
He said Ally is giving something like 10,400 in incentives instead of the 8k Stellantis is. The 0 down monthly payment he casually quoted me in the email was sky high compared to some of the deals I’ve seen here too. I figured there would be negoitiations but it felt like we were continents apart lol
As a super supporter once you populate the calculator with a few inputs, the mf & rv will auto populate for the term you select. No need to go over to Edmund’s while being a Super Supporter.
All dealers have access to their own captive. You can make an offer contingent on using the captive, they can say no as well.
Ya, I had got the info from Edmunds the day before I became a supporter here. But I also noticed what is listed in the calculator isn’t the same as what Edmunds was giving me. In theory, shouldn’t they be the same?
They are pulling data from the same source so yes, in theory they should be the same. Many times in the beginning of the month a new program will be released for example on the 4th of the month, especially if the month end was over the weekend.
Even then it can take another day or two for all captives to get their new programs loaded into the system and it all to “sync” so to speak.
Also need to make sure you were quoting apples to apples, I.e. 24/10 to 24/10.
This is what I was quoted on December 5th over on Edmunds
R/T
.00004 MF and 54% residual (24/12)
.00137 MF and 48% residual (36/12)
R/T+
.00029 MF and 57% residual (24/12)
.00039 MF and 48% residual (36/12)
Currently, on the calc here for a R/T+ 36/12 it shows RV 50 and MF 0.00003 and this is not intended to be me complaining, just to be clear. I am legit just trying to understand all this so I can do my best to get a good deal done!
Oh they do. I had requested for rates on the RT and RT+ both for 36/12 and 24/12.
I took the calculator here and just did a RT+ at 36/12 and thats what I posted above (50% RV and 0.00003 MF on the calculator) where Edmunds says it should be 48% RV and 0.00039 MF for those same terms.
So…I think this is a product of me still learning the calculator and how it works. I have no idea what each of those stand for lol and from your post am just now realizing by clicking on those, you are telling the calculator what to base things on…
So there are multiple different lease terms with multiple different rates, RV etc, even through Stellantis.
Yes, agreed that is exactly correct. Thanks for explaining this. I didn’t understand whatcor how that was changing the outcome.
So, I guess my next question is, how do you know what is better? Just clicking through and comparing? I dont even know what the abbreviations there actually mean, so now I know, basically ALL of those are available and I just have to figure out which gives the best value to me?
