Noob here. Got this deal working. Ran it through the calculator and think I got close. Would like to know if I should jump on it or keep grinding to get a better deal. Any thoughts appreciated.
First thing you should do is go to edmunds and get rv/mf/incentives. There may be incentives that you’re not getting here because of the mileage that would make this cheaper to get new than as a loaner.
ok, went to edmunds found nothing that suggests I can find a new one for even close to this. The MF and residual I found @ edmunds is also in the ballpark. @mllcb42 can you give me any more specific direction other than the numbers are funky and they don’t add up? Any diagnoses, questions, or help you can provide is appreciated but I need some direction on how to get to the bottom of where the calculation might be off or what you are seeing that makes you think this. Again, noob here so bear with me, but looking for some guidance other than this isn’t right.
I agree with @vhooloo vhooloo, 20% off a loaner is great, numbers look good. I think the only thing to negotiate down at this point is MF (if you can) but even without that, its not a bad deal.
I think Matt @mllcb42 is just talking about the $2000 rebate, which may not apply to a loaner (I’m not sure about this), but you have it in writing, so it would be difficult for them to deviate from this.
If the $2k rebate doesn’t apply to loaners over 5k miles then it will be easy for the dealer to back out. Having it in writing on the deal sheet doesn’t mean anything other than someone made a mistake, which is why its best to get that ironed out sooner rather than later.
If the OP commits on the car and the rebate isn’t valid then I’d expect a phone call from the sales rep or Finance Manager shortly after…
I understand the rebate issue, that’ll make itself apparent when it comes time to do the deal so no sense in speculating now as that’s what they are offering. Can someone help me with the MSD? is the idea to shift my money up front to MSDs that way it refundable?
I just tried to fix your numbers in the leasehackr calculator and I’m not close.
This is the best I could do;
@mllcb42 is right. The numbers don’t add up. I think your residual value was wrong.
You may understand this, but just wanted to clarify
MSD is multiples of the monthly payment. So in this instance it would $800 x #of MSD (up to $8000) as a refundable deposit on top of your drive off to bring down the interest (MF).
On a loaner with 5000+ miles on it, you should be not getting any incentives and taking a huge residual value hit. As such, a new one, with a much lower selling price/pre-incentive discount, may end up with a lower total lease cost, even though the discount is lower.
Right now, plugging in their numbers, they’re a good $2000 less expensive than their numbers suggest. That to me says something is very confused in the calculations. It’s easy to say “well if they’re way cheaper than they should be, why shouldn’t I take it?” The answer is because usually in that case, they’ll either catch the issue while you’re there and jack the price up or you’ll take delivery then get called back in to fix the issue at a higher price once you’ve used to “your” new car.