Right, at the end of the day, it’s just part of the lease payment…just upfront. I just get caught up on $0 down because it’s ideal but it sucks because it puts my monthly a lot higher.
And interesting with GAP…I have a friend on a BMW lease ending November and she has no GAP and she has a friend who just leased a CRV and they don’t even know what the heck GAP is. I’m guessing their was included in their lease, they just don’t know.
The total cost doesn’t change, but it makes it really easy to convince yourself to overpay. For whatever reason, people are usually much more ok with making a $2000 down-payment but refuse to pay an extra $60 per month. You do, also, risk the money should anything happen to the car. There’s an argument to be had when you’re saving money by paying up front, but that isn’t happening here.
And yes, bmw and Honda both include gap waivers in their lease, so there’s no need for them to have gap insurance.
How do I negotiate using what I’ve used on the Leasehackr calculator? I assume people don’t actually mention using this, do they? Just more of “I know the residual is X and MF is X and would like to do $0 down with $X/month, is this possible?” I remember the Reddit thread I came from where a guy took this kind of approach.
I spoke with some family and friends and they think I should bring my yearly mileage down to the 10k range instead of 12k. My calculator looks like this and I think that $418/mo is okay:
Ok, makes sense. I think I recall this being said earlier on in here. I’m looking at the due-at-signing breakdown and why is it so much less than what the Mazda website says? Yes, I have $0 down but I know due at signing usually consists of the acquisition fee, dealer fees, and government fees…but I don’t account for first month’s payment in there? Also, I assume this due-at-signing number has already subtracted the $930 incentive I put into the calculator?
I agree with @mllcb42 except I wouldn’t ask for a monthly price. That allows them to manipulate the numbers.
Tell them “my offer is a sales price of $xx,xxx for a $0 down lease” or “I would like it for x% off before incentives.”
Negotiate by sales price not monthly. With my last lease search I found stock numbers I wanted, and texted with a few dealers, and simply said “I want to lease it for 9% off before incentives with base money factor, and I’ll pick it up today.” And one dealer agreed within an hour, and that’s the one I picked up.
Personally, I care what MF they use, I don’t want it inflated. I use the calculator to target my pre-incentive discount and ask for that discount. It’s the process that works best for me. Nothing wrong with doing it that way.
Who cares? If you give them a monthly AND das amount based on your target data, then who cares how they get there? If they want to mark up the mf and give a bigger discount or do something else, it doesn’t matter how they bookkeep it.
I already tried the sales price approach. No one is budging. Granted I went with a number that was like 8% pre-incentive, which no one will do right now. But I’ve been told price is pretty much set. And every dealer just switches the talk back to monthly and downpayment. Also, I’m not in NJ (I’m not the OP but I basically hijacked this thread for help because I was in a similar situation as OP looking for any kind of deal).
Your due at sale can be whatever you want it to be usually. There isn’t a required amount due or fees that have to be paid up front. If you want $0 due at sale, tell them $0 due at sale. If you want only first month due at sale, tell then first month due at sale.