Been working with some dealers in WA to get to my target based on the amazing info in these forums and the rate finder tool. Unfortunately state credits no longer available, and Seattle car taxes are killer (10.3%).
Anyways, anyone think there’s any room to improve?
Pretty good. Have you shopped multiple honda dealers in the area?
Yes. This is the lowest after contacting 8 dealers across western WA.
This looks pretty good, if you get the dealer to structure the deal where selling price is $45000 , you can get rid of the 10% tax. There is a lot of dealer cash that Honda is passing on so they technically can do it by making it up in a $2000 downpayment from you.
Have you ever had success with that? I’ve tried before but never really gotten anywhere. He’d only get part of the tax credited btw
Yes, this Saturday leased a equinox ev 2lt awd for $239/month 0 das. Msrp 49xxx. Problem is most sales people dont have any idea on how to structure a lease.
in WA rebates are also taxed so about a $1000 difference at least. Havent done a calculation. Ofcourse after haggling with 8 dealers it might not be worth it. Honda Bellevue was so arrogant that I didnt even talk numbers with them. In any case gm built the prologue and after test driving seems gm did a better job on the Blazer/Equinox.
I confirmed the dealer’s calculations manually and they are correct. However, they did use a sales tax rate of 10.65%, not 10.3%. Can’t say whether or not this is a good deal. However, the discount off MSRP is 16.8% which seems solid to me IF the discount is a true dealer (contribution) discount.
I’d get rid of the 995-appearance protection which is bs IMO. Be sure that the MF = .00157 is the buy rate (not marked up) if you qualify. Also, you may want to take @Bargainer advice on restructuring the lease. Going to need to get creative. If they lower the SP to 45000, they’re going to have to account for the difference. A down payment equal to the difference probably won’t pass mustard. However, increasing the MF to offset the lower SP while keeping the payment the same could work. Will post details later.
Upfront charges…
Tax 1278.00
1st pay 431.42
TOTAL 1709.42
EDIT: Here is the later part…
Consider the case where the money factor changes. What is the required change in the Selling Price so that the base payment, calculated using an initial money factor, remains unchanged when calculated using a new money factor? Below is the formula…
This assumes that individual payment streams are taxed, and that the 1st payment is not capitalized. It can also be used when tax is levied on the sum of the base payments whether tax is capped or not.
NOTE: ΔS = ΔAC where AC = Adjusted Cap
Procedure
A. States that tax the monthly base payment streams….
The calculated MF = .00289528. No such factor exists. So, we round up 00290. To make this work, you would need the dealer to mark up the MF to .00290 or higher and then, adjusted the sell price accordingly using the above formula. Using .00290 would mean that the sell price would have to be lowers by 2038.09 resulting in an SP = 44992.91. The Gross cap = 47803.41 and the adj. cap = 35803.41.
CHECK:
.00290 x (35803.41 + 31102.50) + (35803.41 - 31102.50) / 24 = 389.90
Contract Pay = 389.90 x 1.1065 = 431.42
How would getting the selling price to $45k eliminate the taxes? I’ve not heard of this before.
WA does not charge sales tax on new EVs under or at $45000 selling price. Rebates, incentives, trade-ins and downpayment doesnt count in lowering the msrp so that has to come from the dealer.
That’s great to know, thanks. Yeah most honda dealers around here are bad. Theres a couple ones which were decent when i went further outside the metro.
Have you tried the chevrolet product? Prologue, acura zdx and chevrolet blazer/equinox ev and cadillac lyriq are all built by gm on the same ultium platform and same assembly line.
My dealer had two equinox left on Saturday, you can probably get the same deal I did.
Lack of CarPlay in the BlazerEV is a deal breaker for me.
I hear ya, for me the supercruise - self driving feature in equinox won over every other car in its category and the price couldn’t be beat. Tried the iphone pairing with equinox and so far calling and texting are working well though it was a pain to set up.
Also access to Tesla superchargers right now, which eventually every manufacturer will get.
Spoke to one of the dealer’s sales managers today (is it me or does everyone have a manager title?!?). They said the tax exemption is on purchasing new EV at $45k and doesn’t apply to taxes on incentives.
Do you have a link to your Blazer EV signed lease that shows no taxes on anything? I’d love to prove them wrong on this!
You must be thinking of someone else. I don’t have a blazer or an EV for that matter. I would never acquire an EV. The technology and infrastructure just aren’t there yet. Not only that but their market value drops like rock or, so I’ve been told.
There are a few in signed section on leasehacker, I am traveling so will send when I can get to it.
Check this one.
Do you have any updates? Did this deal work out for you?
Nope. Went I went in, sales manager told me “Honda doesn’t let you put $0 down if you want all the incentives.”
I walked away.
