Quick summary: Had a $246 monthly with 0 DAS. Expanded search to other makes and dealers. Found a favorable dealer with excess stock and want to push out before end of month. Now have a $220 monthly with 0(?) DAS. Meets my target, but have a couple questions for the community.
MSRP: $23,349
Selling price before rebates: $20,749 (11.1% off MSRP)
Rebate: $1300 ($500 lease cash according to Edmunds)
MF: 0.00082 (matches buy rate from Edmunds)
Res: 61% (36/10k)
DAS taxes/fees: $0 (covered by rebate)
Pre-tax monthly: $200
Monthly: $220.65 (includes 10.4% tax)
Copy of the quote if you want to double check the numbers:
Very solid deal that meets my target and matches some of the brokers here. I’ve bounced between the Corolla Sedan, Mazda 3, Corolla Hatchback, and Kia K5 but ultimately still liked the Corolla Sedan best. Not really looking at Hyundai’s and Honda’s since they don’t allow lease transfers.
My questions:
Confirmed with dealer that the acquisition, tags and licensing is grouped into the “Upfront charges” in the quote, but TFS acquisition fee alone is $650 - am I missing something here?
Made sure with the dealer this is a $0 DAS deal, and I see that on the quote with 0 Due on Delivery. What’s the $503.39 under Total Cap Reduction - is this coming from me?
Definitely still true in 2021! Are you from the PNW area?
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*Outdated - Original first post * Hey Hackrs! I’m getting close to a deal now and just wanted to double check with you all. Frankly I’m surprised to get this deal out of WA. Some of the brokers here are able to get $220 ish monthly for the SE but with shipping + broker fees it is higher.
MSRP: $23,349 Selling price before rebates: $21,499 (only 8% - does it go any lower for cars like these?) Rebate: College grad - $500 + first month payment - $254 Incentive: $500 MF: 0.00084 Res: 63% (36/10k) DAS taxes/fees: $0 (covered by rebate) Monthly: $246.56
No idea what the Toyota market is like, but for bmw and mercedes, I’ve generally found portland to be more competitive, though occasionally MB Seattle is willing to move a unit. If i were you, I’d get quotes from the Portland dealers and see if they were able to offer a discount significant enough to make it worth your time
I was looking between a entry level sedans (Mazda3, Hyundai Elantra, Kia Forte/K5, Civic, Corolla) but the other makers don’t seem to allow lease transfers. Looked around for a bit and don’t see a lot of 24 mo options for these as well.
There’s a chance I won’t be able to complete the lease so I just want to be on the safe side. Are there any other automakers/leasing companies that allow lease transfers that I’m missing out on?
Have no doubts about that. When brokers/dealers say no out of state deals, I can still go there in person to deal right? (i.e. I don’t have to be a CA resident to shop in CA?)
Mazda used to use Chase for their captive bank, which did not allow transfers. They changed this in the last year or so, so now Toyota Financial is the captive bank.
You would need to discuss this with the dealer. Some won’t deal with out of state people because they don’t want to deal with the licensing/registration/etc issues so it’s a non-starter. Others just don’t want to deal with shipping, so if you pick it up, they don’t care.
I have no idea how they are calculating the acq fee in there. Based on their numbers lining up with your calculator - it appears to just be missing
The “cap cost reduction” is just to get the total amount due at signing before rebate to $1300, which then becomes $0 after applying the rebate.
It looks like a really solid deal. I would do it as long as there isn’t any funny business around them adding the acq fee back in when you go in to sign. Definitely go over the contract carefully before signing.
