Hello! First time posting on LeaseHackr after lurking for a couple of months now. I am still a bit confused with a lot of the lingo thrown around here, albeit I think I managed to get a strong deal. I reside in New Jersey, and the deal on this car is at a dealership in the tristate area.
I visited Edmunds today, and a kind user there provided me with a .00017 MF, 62% residual, and $1,000 incentives, which is almost identical to the deal I have.
MSRP: $46,595
Gross Cap: $39,023
Adjusted Cap Cost: $37,878.62
Residual Amount: $28,888.90 (~62%)
Incentives/Rebates: $3,000 (Alfa Conquest Bonus Cash = $1,000 + Presidents Day Bonus Cash $500 + Bonus Cash $1,000 + Ally CCRA $500)
Money Factor: .000163
10,000 miles/year
24 months/2 year lease term
$882.95 down (Includes first month, registration fee = $400, doc fee = $75, NYS Inspection = $10, tire recycling fee = $12.50)
Taxes ($649.87), Cap Red. Taxes ($210.75) were rolled into the payment as per a document the salesman sent me.
Monthly Payment = $385.45
If you need any additional information from me that I might have forgotten, please mention it. I really have no idea how to work that calculator on here… extrapolating the numbers from these sample contracts/other documents the salesman sent me is not working for me, haha. Anyways, I thank you in advance.
On the surface, I guess it seems decent. Never shopped nor do I personally like Alfas (and I’ve driven a few of the older ones in Europe and was never wowd by them)
NJ registration on a 2yr lease term shouldn’t be $400. Prob closer to $250.
More importantly, run the calculator and try to determine what the pre incentive selling price (discount) is and compare that to what others have gotten here on a Ti Giulia… it’ll give you a better idea of how good the deal is.
I just need something to get to and from work… not sure about the performance, but I like the body of the car (and the interior of this particular car I’d be getting). I’m sure the performance isn’t what it is hyped up to be to those of you really into cars, haha.
And yeah, I ran an online estimate for the registration, and it came out to about $128. The salesman mentioned that we would probably receive a check for the difference.
And will do. It’s just that I called so many dealerships in the area, and they all say the deal is amazing, and that I should buy 3 if this is legit; you know, that whole shtick dealers play.
That’s the deal. Could they be hiding something? I keep asking the salesman, and he says nope, he promises. He even sent me a copy of the contract along with pictures of other documents directly from his work monitor that listed all of this information.
If he showed you the computer screenshots/contract, check what the “Agreed Upon Price” is on the car. Subtract that from the MSRP and see what your discount is as a percentage.
Compare that to other Giulia deals here.
You can plug those numbers in using all of the variables and your numbers should line up to his. Tax in NJ is 6.625%. Your $3k in rebates go under the “Taxed Incentives” FYI
Great deal @pinotandcheese! And it’s a 24 month lease, which is about the maximum time I like to keep a car if you end up going with it please post pics!
if you end up going with it please post pics!