Is it odd that the MF is significantly higher on 24 vs 36 month term? Maybe I’m missing something but it seemed backwards to me.
Is it unusual for payment to be so similar between 24 and 36 month? When I’ve browsed lease deals online I’ve typically seen more like ~$100/month discount for 36 month for cars in this price range.
This term sheet is incomplete, right? It lists the residual as same for both deals but that makes no sense to me. Sales person assured me it was but I think he’s got his wires crossed.
If it’s useful for anyone, here are the terms they offered for a 60 month loan (partner credit union financing at 5.99% APR):
You’re in the right place and there’s much to learn. My advice is do as much reading on here as you can, check marketplace for similar models to get a good idea of a target deal.
Whatever you do, don’t pay $700/mo on a ioniq 5, that is insanity!
Yeah their breakdown is definitely for a 24 month lease. The 36 numbers for residual and rebate change (36 should be 13k and 56% based on a random Portland zip code and LeaseHackrs RateFinder).
Assuming it’s $0 down based on this the numbers look “right” though do not appear to be a very good deal.
24/36 have different rebate/residuals and why dont they show you that? Clearly their math takes that into account
Is the tax rate right there? Do you pay on cap cost or based on monthly? It differs by state so you’ll have to look at that. But the calculator with that static $528 number on both 24/36 gives me the numbers you show above. Note: I dont know your tax rate so I added the taxes into the “Government Fees” section as a single number.
They didn’t budge $1 off of MSRP and the rebate comes from the manufacturer so the dealer isn’t moving an inch on this deal. While my little experience here shows they dont move a lot off of MSRP on leases - there should be something. I’d push to try to get at least a few % off the MSRP. Play with the “Selling Price” and see how that impacts the payment
The MF on both of these are inflated based on the available MF from manufacturer (.00217 and .00247). This could be based on them marking it up or your credit or whatever so YMMV.
Dealer is giving you $0 dealer discount. Just walk away.
That money factor seems ridiculously high. Like GM and Ford levels high. Dealer is marking that up.
What’s $1075 government fee? Is registration really that high?
There is no correlation between financing rates and money factor for leases. They’re completely different animals, don’t bring that into the mix, you’re just adding variables that are irrelevant.
