Chevrolet Equinox too expensive

Hi guys, I’m new to this forum I was at the dealership today in Daly City, CA trying to get a lease but the numbers aren’t going to the right direction and it took me over 2 hours just to get out from the dealership because they keep on checking what can they do to give me the numbers that I wanted but they just can’t figure it out.

I was looking at an Equinox LT with an MSRP of 31430 they gave it to me for the price of $31155
They asked for my Honda lease registration to add the $3000 but still the numbers are way up high. They are asking for a down payment of $1365.12 and $306/mo for 3 years or $11,997 one time fee, $294/mo for 2 years or $10,880 one time fee. I only have the paperwork with a trade included on the prices.

Basically I have a 2016 BMW X1 right now that I was trying to get rid off to get the Equinox
I’m paying $562 on my BMW but I seldom us it because I have a honda Civic Lease that is ending this september and I’m 12,000 miles under the max mileage. They say I have around $2500 negative equity that they are adding to the lease payments which I would think around +$70/mo on the lease payment for 3 years but the numbers they are giving me are ridiculously high.

I hope someone can help me get the best deal.

Thank you very much

This was the car I test drove I’m surprised the Selling Price online is a lot cheaper that what they’re trying to sell if for when I was there today.

Based on the numbers provided, their numbers don’t look that off to me. Are you trying to recreate the deals you’re seeing on here? If that’s the case, a couple of things…

  1. You’re not getting much discount off MSRP, should try to aim for at least 10%.
  2. Most lease deals here have been for 24mo, not 36mo. This results in the residual being higher as well.
  3. Your money factor rate is kinda high (line item 8). Do you have excellent credit?

Those are the biggest things.

1 Like

Yes my goal is to get as close to the $63 deal as possible.
I will try to get the online price of $27,680 or should I try to go lower?
I asked the sales person about the MF and he wasn’t sure what I was talking about how much MF should I ask for?
I should have a good credit my banks show 807 right now and I was approved for %0.9 apr last yr from bmw but I wish I just leased back then if I only found this awesome forum earlier. Thanks for your help.

Search the other threads and you can see what MSRP, sale price, MF, and rebates other people got to try to get a reference. Your deal might not end up exactly like theirs. Sale price is dependent on how good at bargaining you are and how much the salesperson/dealer is willing to go. And no, the sale price on the website is taking into account some rebates already, which are most likely included in the rebates they gave you (line item 22).

1 Like

Will do ,Thank you I appreciate it.

Actually, most people aren’t getting much of sticker, they are getting most of it in rebates. I’d still aim for another $500+ off.

Yes if there are a ton of rebates, the dealer will not want to give deep discount as well.

It looks like you’re rolling around 2500 into the new lease as well from a trade. This isn’t going to help your cause. (Nevermind, I missed your last paragraph where you reference this).

Try the Trax?

I think if a salesperson pretends they don’t know what the money factor is that’s where they are getting the most money off of you. I would contact multiple dealerships.
(Edit: Just realized they are charging you 4.32% on your rate 0.0018 that’s to cry for. Tell them it’s a joke and find someone else. 0.0018*2400)

Maybe someone can tell you the money factor here and compare with theirs.
Also don’t forget you can negotiate the heck out of the sales price and the trade in as well.
See how much CarMax will give you for your BMW.
Maybe BMW might be able to buy your car for more money. Just ask to trade in only and see what they offer.
Just my 2c.

Correct. I also show my customer my comp screen and I select the top tier and click on it. showing the lowest possible and give them that rate. with our lease customers usually having credit 725 plus.

Thanks for your help guys especially to Phil, see you on the 15th.