Deal Check: Ariya Platinum

23 Ariya Platinum. This is IL (60090) 18k/10. My region is getting about $12840 in rebates

$317/MONTH $0Das. That’s what’s agreed upon.

Does the contract line up?

MOTOR VEHICLE LEASE ORDER The undersigned Prospective Lessee hereby orders the Leased Vehicle described below._copy.pdf (575.3 KB)

Thats a good deal for a Platinum in IL.

Yes. Is it a good deal? Can’t say without knowing the agreed upon value (sell price). This will determine the amount of capitalized fees = Gross Cap - Sell price, if any. What is the 499 service fee? Doc fee? It appears that the acquisition fee is capitalized which is standard practice. Here is the sales tax calculation…

8.25% x (18 x 317.55 + 10950 + 499) = 1439.12

The MF = .00094 and the payment calculation is…

.00094 x (46308.42 + 42088.20) + (46308.42 - 42088.20) / 18 = 317.55

All calculations are accurate. However, you may want 0 due at signing (DAS = 0) If so, a portion of the 10950 rebate needs to be allocated to the upfront fees. I seldom pay anything upfront. It’s helpful to minimize your cap reduction in case the car is totaled which means you may receive only a part of the cap reduction. Furthermore, a car is a depreciating asset, not an investment. Suggest the amounts due at signing be allocated as follows…

CCR 8259.57
Service Fee 499.00
Sales Tax 1442.88
1st payment 469.55
TOTAL 10950.00
Rebate/Credit 10950.00
DAS 0.00

This means zero drive-off plus 17 payments of 469.55 each

Or comply with the lease order which means

DAS = 2534.67 plus 17 payments of 317.55 each.

The decision is yours. :smiley:

EDIT: The total cost of the lease order is 49.33 less than the zero drive off. However, with the zero drive off, you have use of the 2534.67. You can invest it or payoff a 22% card credit card. Your implicit lease rate is about 2.26%. I’m sure you can find ways to put the 2534 to productive use such that the after-tax rate of return exceeds 2.26%. :grinning:

Yo Delta, I swear dude, you’re the guy Finance/Sales mgrs just hate dealing with.

You’re doing gods work here.

OP, take the deal.

Tuna, thanks for the kind words. I try.

That’s not what the lease order says. DAS = 2534. What matters is what the lease contract will say. Verbal quotes mean nothing.

Curious how OP is considering this to be 0 DAS? I guess you mean zero down as pure cap cost reduction, but you’ve still got taxes, fees, first month, and whatever that service fee is…

Edit: I see @delta737h has this covered, guess I should read before posting :smile:
Seems like an ok deal, but I’ve not been reading up much on the Ariya. I feel like I saw quite a few for much lower (in the 200s monthly effective range), but don’t know trim, etc

Totally agree with you guys and that’s question I posted to the sales manager. He said it will be handled between dealer discounts and mfg rebates and this suppose to be a true zero. I will have a call with him on Monday and make sure I get clarity and an updated sheet.

Idk why he is only applying 10950 in rebates when their is $12840 or is that dealers trying to pocket some of that?

This is gotta be a true 317/month only first due at signing. Otherwise, with all the lease support we are getting, it’s not really worth it,imo

It doesn’t matter one hoot what the dealer states verbally. What matters is what the lease contract says. Make darn sure that your DAS = 0. You should be able to discern that from the contract. Merely stating that it will be handled with dealer discounts and rebates is crap. There has to be transparency via meaningful disclosures in writing and in your lease agreement.

I have seen situations where a contract may show a higher das amount but it is paid by the dealer, rather than out of your pocket.

Too risky for me. The way business is done in good 'ole America the Great is pure slop. The likely reason is that people are too tolerant and don’t hold each other accountable. Also, many times they’re uninformed or misinformed. That’s on them. There is absolutely no reason why a lease contract can’t be structured correctly. If DAS = 0, then the contract should show that or, at minimum, it can logically be deduced.

Its usually not a slop issue/inability to do things correctly, but more of an internal dealer metric that motivates them to show a higher selling price on contracts/add other expenses and then offset them, etc. A byproduct of the different internal compensation structures.

That doesn’t excuse it or make it okay. What could possibly motivate them to not do things the right way and then, promise to correct it later with verbal statements? That’s unacceptable. It’s almost a sure bet that money/convenience is the root cause and that riles me. Done correctly, the residual of internal compensation structures should have no bearing on truthful and accurate disclosures in purchase or lease agreements to the extent where it may prove harmful to the customer. I believe in doing things the right way right from the beginning. No exceptions.

Getting paid money

Profs and the real world don’t mix well…:wink:

If that is so, then that’s unacceptable and their business model/practices really needs to be improved for the betterment of all concerned. It’s a sales organization so, money trumps doing things the right way. Or maybe they’re not smart enough to know how to fix it. Or maybe they’re just too lazy or it’s too costly. Whatever the reason, it’s a piss poor excuse. Many people have become numb, dumb, insensitive, and tolerant of poor business practice. Good grief, Charlie Brown!

It is what it is. You can either take the sisyphean approach of trying to single handedly change the industry or work to maximize your position within it.

Sometimes ‘working’ systems to increase profits is ingenious! Car dealers will do whatever they can to meet sales metrics to increase their profitability…in this case the dealer should have provided a ‘we owe you’ to document money owed to buyer but stuff like this happens when buyers don’t really understand leasing and/or calculating their numbers too.

Every ad that I see says 0 das, but the fine print says otherwise. I wouldn’t be surprised if the dealer is using the same lingo, and most say okay!

I don’t like uncertainty, much to Deltas point. If it ain’t in writing then it’s all fair game.

Anybody actually done deals where the contracts don’t line up to what you are actually paying, but everything was as it should be.

I dusted off my 4xe contract and what you know, the DAS $ definitely doesn’t add up, but my lease was zero drive off everything rolled in…umm.

Idk what to make of this.