Can you guys please take a look at this for me because I feel like the manager of the dealership I’ve been shopping at for 10 years now is holding something back or trying to confuse me.
The deal is in Southern California under a 10.25% tax bracket. The buy rate is .00290 and residual is 57% ( I know, not that great )
Here is what I’m coming up with using the Leasehackrs Calculator and ChatGPT, both are pretty close.
MSRP: 74,200
Discount: 13% off
Loyalty: $3,000 off
Down Payment $10,000
Lease type: 7.5k / 36m
Total out the door monthly payment $750.00
But when I run the numbers through the calculator here and ChatGPT I’m getting a number around $660 a month.
What am I doing wrong or what is he bumping in the background that I’m not seeing. He already showed me his computer and the money factor, discount, residual, loyalty all matches mine.
I need some advice from the big dogs of the forum who understand all these minor details.
How would you structure this deal based on what I have up top? Could you break it down line for line like above if you have the time? I never thought about MSD’s
You haven’t addressed the 10k yet. This is horrible deal. I hate to say it but you have probably been getting hosed by this dealership for the past 10 years.
It’s not some big conspiracy they are likely just marking up the MF.
@ Qbrozen - I never knew how MSD’s work and I reran the numbers and with 7 MSD’s it lowers my MF enough to get me to the mid 600’s. Thank you for this info, it opened up a whole new world of knowledge for me!! I appreciate you. I think I got it from here.
Incentives: $3,000 loyalty incentive applied toward cap cost
Residual Value: 57%
Money Factor: .00241 (after applying 7 MSDs)
Monthly Payment: $665 (including tax and all fees)
Total Due at Signing: $10,000 (flat)
Breakdown:
• $5,600 for 7 MSDs (refundable)
• $1,300 cap cost reduction
• ~$665 first month’s payment
• ~$2,435 for taxes, DMV, dealer doc fee, acquisition fee, registration, and other gov fees
I’d actually prefer to leave it as-is if that’s alright. As the conversation continues, it’s important that anyone coming across this thread sees how MSDs came into the discussion. Personally, I had no idea what MSDs were or how they worked until another member brought them up, and that completely changed the way I approach lease deals. It’s a crucial piece of info that could help others the same way it helped me.
So, what other levers does OP have to make this a “good” deal? I’m not arguing the fact that this lease is going to cost a lot of money as it’s structured now, but RV can’t be changed, the dealer discount is pretty strong (assuming it’s all dealer discount and they haven’t baked the rebate into that “discount”). Every cheaper deal anyone has added to this post has been for the hybrid. The OP’s deal is not for a hybrid so how are hybrid numbers even germane to the conversation here? The gas GLE is a “pay to play” vehicle.
