You need to do a total cost of ownership analysis over a defined time period to truly compare.
The big thing here is paying 20+% in taxation to lease in the City. I don’t care how much money I have I refused to pay that while I was there…just wrote a check for my cars instead.
EDIT, also, bigger cars in the City are a pain if you drive a lot there…harder to find spots and if street parking at all it will dinged to all heck front and back.
FWIW - I’m in the same area, but outside the city so taxes are different. I worked the closest 5 dealers and the best matched your 11% off MSRP and also 13.66% off a ‘demo/loaner’ but the loaner has lower $5,900 incentives so the demo was only a few $ cheaper. They would not accept my offer of 17% off for the loaner so passed on both.
Wouldn’t a $50k CPO be better than this lease proposal?
Left field: as of March the ZDX leased so well it may have been worth it even with the extra tax.
I would to lease. Plus then I don’t have to worry about warranty.
Side question, does anyone know if the Rate Checker is accurate to calculate lease pricing for Chicago? I showed what the pricing is showing on LeaseHackr and they said it doesn’t properly calculate the taxes for City of Chicago since Chicago and a few other places are not as simple as taking the pre-tax monthly amount and adding the tax. Which to me makes no sense.
Don’t know how I missed your post. I also looked at a “demo/loaner”, they discounted it 15% off the MSRP, and then the $5,900 incentive is accurate for a “demo/loaner” lease. I ended up passing on it since the warranty had started over a year ago.
If you’re still looking maybe you can use that to help you get a good deal.
Did you read any of my posts above? This is why leasing in the City makes no financial sense. You will pay state lease tax of about 9.5% and then an additional Chicago City lease tax of 11% on top of that payment…that’s why above we were saying it’s effectively a 20.5% tax.
EDIT, here is another string to look at: