Hi,
I think I’m getting a decent deal, but wanted to check with the experts!
I’m in the market for a 2021 XC90 Inscription Expression (6 Seater). I’m in current negotiation with a dealer in the Northern CA.
Highlights of the deal
Lease: 10k miles/ 36 month lease
MSRP: $69,440
Selling Price: $61,306 (This is net of Dealer Discount, Lease Bonus, Cali Clean)
Down payment: $5,000
Monthly after tax: $830 ← I think there is a bit more wiggle room here.
Residual: 57% ← Matches Edmunds forums
MF: .00218 ← This is high (Edmunds forums state 0.00131)
The dealership will also be buying back my lease. Neutral equity.
What’s is your price based on your research? I’d push to get at least the base MF and instead of paying $5k down, you should do 0 down and max out MSDs. These 2 alone should lower the total lease cost by $5k.
The selling price is pretty comparable based on the dealers I’ve reached out to.
Regarding MSD’s are they refundable at any point in time? I’m currently leasing a Volvo, but if the dealership buys out the car, does this mean I can have my MSDs refunded?
There’s $100/month of rate bump in here. That’s almost 4 grand of discount wiped. i have no idea what lease bonus you get - we get 2550. They’re hitting you at 1000 over invoice +/- on this. It’s awful.
I noticed when I plugged this into the calculator, I got $743/mo based on OP’s figures. What does rate bump mean and how can I avoid this happening to me?
It means charging a higher MF than base AKA buyrate (assuming the higher MF was not due to credit below Tier 1).
You don’t necessarily want to avoid this “happening to you”. You want to avoid being the person who solicits quotes, naively looks at a discount and then doesn’t realize the higher MF took much of that discount away.
Ideally you want to investigate what your target payment is, make offers based on that. And then be indifferent as to how they get there if they accept.
Terrible deal honestly. Not to be rude , but if u are on this site u need to absolutely research multiple security deposits(msd’s) . And leasehackkrs dont put money down… zero baby!!!
