Hey all, trying to figure out how this deal is. I’m not having much luck talking the dealer down further:
MSRP: 60265
Discount: 1025
Rebates: 16,000
Taxable fees (Assume this is acquisition cost?) of 650
Doc fee of 399
Non Taxable fees of 202.50 (not sure what this one is)
Tax: 5.5%
Residual 59%
MF .0016
0 Down
Comes out to payment of $595/month. Not sure if they’re giving a higher MF because they havent pulled my credit but I’m confident I’ll come in at Tier 1 which should, based on my zip code, put me at .0012 which would drop the payments by about 30 bucks. I can’t get the Calculator to match the numbers on the form, they end up around 20 bucks off or so.
But yeah. Not sure how bad this is, finding recent deals in WI seem to be really rare on here.
Not great. I got a 24’ Limited AWD for 24 months/12k miles in Illinois but as a Wisconsin buyer for $330/month with $1800 down. 5% tax out here. Check my post history for the numbers.
Tax is pretty close up here at 5.5. But yeah, I looked at the deal itself and I can’t figure out what levers to even try to pull. I know I can’t negotiate on the residual value (would save me 50 bucks a month if I could get it up to what yours was at, but maybe that changed due to October vs December?) I could also try to negotiate Money Factor, since I know the dealership is marking it up from the .0012 it should be at and that would save 30ish bucks). But the deal I’m looking at has 16,000 rebates vs the 14,400 yours had.
From what I can see, where yours differs from mine:
.00126 MF would save ~30 bucks a month
61% vs 59% RV would save ~50 bucks a month
1800 down would save ~80/month
You got a higher discount, but mine has higher rebate, and the numbers come out around equal on the calculator
If I assumed a down payment, my deal would be 515 vs 595. I think the only real negotiation route I’d have available would be asking them to lower the MF. Though is the RV still at 61% in Illinios?
EDIT: As per the Edmunds forums, the Ioniq MF and RV numbers are national. So MF is a potential negotiation point for me at least. But RV will be at 59% no matter what I do So I guess what I’m wondering then is, where did the other 100 bucks of savings in yours come from?
Found a dealer that had the car on the lot for more than six months and there was a $500 credit from Hyundai for old inventory. Also had a recent college grad credit for $400. I highly recommend paying the $10 or whatever it is so you can get the numbers from the calculator.
Submit a dealer request via HyundaiUsa.com and they should send you a Hyundai Personal Cash code worth another $500 off. Inventory discount (over 180 days) will get you $1000 incentive from Hyundai. You should look for a larger discount off MSRP from the dealer and get that MF to the buy rate. My recent negotiation experience was that I could get the unmotivated dealers to give a nice discount off MSRP or the buy rate, but not both. I got close, but a hackr sent me a lead to an even better deal and I pulled the trigger today. Happy hunting!
I’ve managed to get the same dealer to come down another 500 off MSRP and add an extra 1250 of rebates. Given my situation, this is probably the best that I’m going to be able to get them down to. I could potentially get more if I was willing to go in higher and walk if I don’t get the deal, but I have to move on something in the next few days since I got a very good early termination deal on my current vehicle (a BMW i5 M60 that I stupidly moved to and am paying way too much for, which is why I’m moving over to the Ioniq 5 since it does most of what I need for a lot less.
But yeah, despite multiple attempts at asking, the dealer was not willing to budge on Money Factor. I tried asking a few times (a couple indirectly asking and one directly asking) and they weren’t willing to budge. So the best I’m able to get is 1525 discount and 17250 in rebates. I did swap it over to a 36/10 vs the 24/12 as I would prefer a 10k lease. RV of 53% on the 36/10, and .00199 MF comes to payments of 525/month.
Could I have done better with more time? Definitely. But the deal I got getting out of my other lease via early termination is also coming in 5500 higher than it was before, so it kinda balances out in the end. Going forward with my next least in a few years, I’ll plan better and be able to spend a couple of months searching for the perfect deal as opposed to having to take what I can get due to being in a bit of a crunch since that’s really the biggest issue, the time pressure (note that I never communicated the time pressure to the dealer). I figure with more time or a willingness to travel hours to get a deal in a different state, I could have saved another 75 a month or so between a lower MF and a bigger discount. And I’m willing to eat that loss and take an average offer given everything I’ve had going on in my life and a lack of mental bandwidth to continue negotiating. I’m not well suited to this kind of negotiation and it makes me anxious as all hell. I’ll probably work with a broker next time and just pay them to get me a good deal so I don’t have to deal with it myself, hah.
Anyways, thanks y’all for the suggestions. I wasn’t able to get much better of a deal this time around unfortunately, but am keeping this all in mind for the next lease.
One dealer about 10 miles away from me doesn’t have any Ioniq 5s
One around 30 miles away Also has no Ioniq 5
One about 65 miles away and one 75 miles away only have the Disney100 version in Gravity Gold, and that has a 1500 dollar higher MSRP. The 75 mile away one also has Shooting Star Grey and Black, and I’m not interested in either color.
Plus, I’m a single guy who can get a friend to bring me to either of the ones closer to me, but a 60 or 75 mile round trip is a bigger ask. Plus, buying from any of the dealerships other than the one I’ll be getting service at means I get to deal with the anxiety of not buying from the local dealer I’ve already been talking to. I’m an anxious person and would rather not deal with frustrating the place I’m getting service done at. Basically, I don’t think its worth burning a local dealer to save 50 bucks or so a month. But maybe I’m looking at it wrong and don’t belong here on this forum, haha
But yeah like I mentioned in my last post, I’m a generally very anxious person and have been riding super high on the anxiety train lately. But I just don’t think I’m cut out to try to negotiate car stuff outside of not getting horrible deals. I’m probably better off paying a broker for future leases if I want to save the most I possibly can because I’m definitely not cut out to do the negotiating myself after I get to what I’d consider an acceptable (but not great) deal. I’ve got 2-3 rounds of negotiating in me and then I’m just exhausted from it.
So I guess what I’m wondering then is, where did the other 100 bucks of savings in yours come from?