Equity numbers, when given as part of a new vehicle deal, are not comparable for the reasons above. Dealers will often over rob Peter to pay Paul and show more equity made up for with less discount.
Unless the dealer will give you $6k equity without you leasing a new car at the same time, they didnât offer you $6k equity, just like they didnât offer you $299 with $0 das.
I understand what you all are conveying, but it seems you all are negating the fact that itâs still more money.
If they lower the MSRP on the basis of a âdiscountâ, and then offer me less for my trade and come back with the same numbers of $299 a month and $0 out of pocket expense for MEEEEE, how is that any different and/or better?
Itâs better than if someone offers you $329/mo with only your trade das, but thereâs nothing to say if $299 is a good deal or not because you canât actually compare it against anything useful.
Your original question was if it was a good deal or not, not if itâs a better deal than a different dealer offered. Which question do you want the answer to?
At this point, an answer to both would be great! Iâm really wanting to make a decision today.
I feel like Iâm being scrutinized on the method that I took. We all know that I would not have been offered 6k had k tried to negotiate the trade separately. So, based on the information that Iâve presented, barring any methodical approach that you all prefer hereâŚtalk to me.
Youâre looking for something no one here wants to provide you because your methodology is to simply
Compare monthly payment and take the lowest number. We do not look at deals like that because there is an effective total lease cost we look at.
Leasing a car to sell after one year is not really the right way to go about things because the contract assumes youâll pay for at least three, so it is financially structured as a three year expense.
At this point Iâm tempted to say just take the accord if the dealer is offering you the most for your trade. I know youâre looking for a spoon fed answer and just want to feel vindicated that you got the best deal, but itâs been worse than pulling teeth to get the right numbers out of you and you donât even have complete deal break downs.
Are you pressuring yourself to make a decision today or is the dealer doing that? If the dealer is doing that then I promise you youâre probably not getting the best deal in the first place.
Maybe you should be posting on Reddit instead of here.
After 5 days of the OP ignoring all comments and still not providing any useful info, this thread will be slow-moded until OP provides actual useful numbers.
Youâre being scrutinized because you have no method. Nobody knows what youâre looking to accomplish. Itâs not clear if you want the lowest price on a specific car, the nicest car in a given price range, the cheapest car in a given class, the best value for money, etc. It seems like all you really want is for us to give you a virtual high five for getting a âgood leaseâ. However, if itâs not what you want to drive or want to spend, who cares? Also, you donât know enough about leasing to actually extract the kind of deal that will impress people here.
My advice is to just treat it like you were going to the store to buy some shampoo or any other item like that. If thereâs one you like more than the others, go to the store that sells it for the cheapest price. If there is another you like almost as much but is much cheaper, decide whether the savings is worth it.
If you donât want to go through the methodical approach to actually answer the question, then youâre wilfully choosing to be ignorant. If you donât want to answer the question, stop asking it.
Youâve been given all the steps needed to be successful. Follow them, or donât.
I think these are the main problems. It;s completely unclear what criteria the OP is using to a define a âgood dealâ and, even if that criteria were presented, there are multiple confounding variables that make an analysis genuinely impossible.
Posters will often say you shop the deal or shop the car. In this case, it isnât clear which one the OP prefers (esp since the OP has neither revealed a targeted total-lease cost nor a specific class of car).
Yeah, thatâs sort of the only useful thing this site can provide. If youâre just looking for the lowest monthly literally independent of any other variables including the class of car, a down payment, and the total cost of the lease, then you donât need advice. Just choose the deal w/ lowest monthly number.
Dealers play games with the lease sheets to make it appear like there are big discounts and savings when there are not. If I am buying a car and the dealer marks up the price of the car by 50% and then gives a 50% discount, I am getting the same deal as another dealer that didnât mark up the price and didnât offer a discount. Thatâs why people are saying it doesnât matter the âequityâ number you are getting, especially if they are inflating the MSRP, adding packages you donât need, marking up the money factor, and putting in other misc fees.
Thatâs why we recommend keeping the transactions separate. Ask what is the best they can do with $0 due at signing and no trade in. Once you have that number, figure out how much you can realistically get selling the car yourself or to a car buying service. Then go back to the dealer and see if they will get close or match what you would get if you sold it yourself instead of a trade in.
AFTER you have the lease sheet with no trade in, THEN you go to the dealer and ask what equity they give you, which goes directly to cap cost reduction. They wouldnât need to give you a new lease sheet with different fees, money factor, MSRP, etc. They would say âyou have xxx equity which is considered down payment, and your new monthly payment will be xxx.â
If all that sounds like too much trouble then like others said take the Accord deal and call it a day.
