Located in DC and the dealership is in VA. This is the latest deal they’ve given me for a 2024 Hyundai Ioniq 5 SEL AWD. No conquest deal and this is for zero drive-off.
MSRP: $53050
Factory Incentive: $1,000
Selling Price before discounts: $48,900
Additional Incentives: $14,500
Selling Price after Discounts: $34400
Money Factor: 0.00115 (this wasn’t on the deal sheet but the numbers check out when using it in the calculator)
License and Reg Fees: $339.35
Processing Fee: $995
Capitalized Taxes: $967.55
Monthly Payment with Capitalized Taxes and Fees: $395.60
Score in calculator is 11.3 years.
To me it looks like the license and reg fees and the processing fees are high (I have another offer from a different VA dealer with license fees at $223). Also unclear if the processing fee is the $650 acquisition fee + a $345 dealer fee.
Seems higher than other deals I’m seeing on here and the sales associate wants me to come in tomorrow to talk to the sales manager. So how does this look?
Thanks. The $650 acquisition fee is not written up on the dealer sheet and I’m realizing this deal only matches what’s on paper when I add the acquisition fee to it in the calculator. Is the dealer fee generally negotiable? Seems like that and selling price are the two pieces left to push on.
And the capitalized tax rates look correct for DC - its 10.25% per month which lines up with the $967.
I find that Dealers often leave the acquisition fee off the pricing details and just bury it in the final payment. It is not negotiable since this fee is levied by the bank taking the lease. You can still, however, work on a bigger discount from MSRP to get the numbers to a better place. I just don’t know how much more you can push on this deal. I think you have about 6% discount plus the $1K factory incentive before rebates. That seems pretty good for the DC area.
