Oh yeah, super pumped about it - picking her up next Wednesday b/c they have to bonus tag it!
He quoted me single pay as more!?!?!? That seems odd, doesnât it?
For single pay lease he quoted me $2584.84 for the 24 month lease - with a money factor of .00024. (The original mf is .00092)
As you can see in my quote he says the lease totals $2397.84, which is $187 less than the single pay!
I was hoping theyâd waive the acquisition fee of $595, thoughts on this?
They donât waive the acq fee, you can substitute it for a MF higher by .00055 (IIRC).
@t5decker The leasehackr calculator shows a .00073 reduction in MF if you one pay lease so the MF should have gone down to .00019 not .00024 (if the calculator is correct.
Yeah theyâre marking it up a tiny bit, but even at that rate the single pay lease is garbage. Why even offer single pay if itâs more expensive??
Hereâs a question. My lease will be at 2.11% APR. If I choose to waive the $595 acquisition fee and markup the APR by 1.32%, then my new APR would be 3.43%. What is the better option:
1.) Waiving the $595 acquisition and my APR will be 3.43%
2.) Paying the $595 acquisition and my APR is 2.11%
Is there anyone smarter than me who can do the math on the difference?
The calculator on the main page should be able to tell you the answer.
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And quoting the interest rate as a Money Factor (.00xxx) will help anyone double check your calc
Yea, it doesnât add up to me at all. Iâm trying to do the math quickly and it looks like they might have messed up quoting the one pay lease. Getting that money factor reduced should save you close 600 dollars in rent charge. My guess is when they quoted it, they might have used the wrong numbers.
The calculator says I will save $6/month by waiving the acq fee in lieu of the higher mf. Thatâs awesome!
The mf currently is .00092
.00092 + .00055 = .00147, or 3.528% APR.
I asked my guy to requote & we shall see if the calculator holds true.
Lowering the APR from 2.11% to 0.46% saves $600 over 24 months? It doesnât seem like it would save that muchâŚbut thatâs a total guess haha.
I got that number over the life of the lease. If the rent charge drops from lets say 33 bucks to 6 bucks a month thatâs 27 dollars a month x 24 months. It adds up haha.
Try lowering the MF to .00019 and keeping the acquisition fee. My numbers suggest that lowering the MF and keeping the acq fee comes out to a better deal. I wouldnât be surprised if they used MSRP or Selling Price when calculating the one pay rent charge instead of the adjusted cap cost and that is why it came out higher.
I get $70.60 before tax with the Acq fee âwaiverâ and $75.72 without it (assuming only first due at signing and any tax on rebates), so that should save you around $120
Are u in CA? A deal like that would sway me from a volt to a Cruze
Hi @max_g, did you bump up the MF to .00147 when you did you numbers for the Acq Fee waiver? For some reason my numbers are coming in differently and chances are I am messing them up somewhere haha.
I used .00019 MF and +.00055⌠at .00092 MF I get 102.42 and with the +.00055 waiver $96.87
@max_g Oh ok. I think you get to choose either or. So he can either One pay the lease and get a MF of .00019 with the Acq fee in place or Waive the Acq and raise the MF to (.00092 + .00055).
I donât know for sure, but according to this thread, he could opt to do the acq fee waiver and also lower the MF for One-pay
Thatâs where I am most likely wrong in my numbers. Thanks for pointing it out! Itâs good to know since I am going in later this week to see what kind of deal I can negotiate. Thanks again!