Hello Hackrs,
How does this lease deal look?
36 months / 10k miles per year
MSRP: $56,000
Residual: $28,560 (51%)
Discounted price: $54,500
Rebates: (-$20,250)
Add ons (Shadowmark + Lease end wear and tear protection): $2,100
Fees: $1,465
Taxes: $2,050
Local tax rate: 9.38%
Total monthly payment: $575 with 0 DAS
I am shooting for quite a bit lower, but unsure how to negotiate. Seems like a high Money Factor is being used? What is a reasonable value I could shoot for?
This is effectively $600 over MSRP. Hard pass.
Hello, trying to understand what you mean. Do you mean I am effectively paying $600 more than MSRP? Can you share how I could compute that?
have you seen the marketplace? hard pass.
You need to do better research. Get rid of the $2100 adds on. $1500 pre-incentive discount weak. You also didn’t list MF. If you learn to use the LH Calculator and post here- you will educate yourself on how deals are constructed and where you are at.
Don’t ask dealers for quotes- make a well-researched, geographically appropriate, time-sensitive, actionable offer. Don’t ask them what they want you to pay. Tell them what you will. Or just hire broker.
Broker deals: $3k, $299.
i’ve been working with several dealers myself and have gotten better than broker deal, but they don’t have the color combo i’m looking for in stock before 9/30.
Agree with all you said, just wanted to get a gut check. They won’t let me remove the $600 for Shadowmark since it is already installed (true of most dealerships around here).
Is the “wear and tear protection” for $1500 not recommended? Since at the end of 3 years, I might have to pay for tire replacement and what not, which would probably go over the $1500.
I had to reverse engineer the Money Factor, because the one they quoted simply didn’t add up to the monthly they came up with. Just wanted to do a gut check with experienced folks here, since I wasn’t sure I’m calculating right (I think they have to be using ~7.4% APR for the numbers above, which is certainly a lot).
Also, brokers mention shipping for Norcal, since the 3 I found on here are all based in SoCal it seems.
Is that what you have seen too?
Yes.
Minus
Plus the volcano insurance
No. And it won’t cover tire replacement.
It doesn’t matter if the car comes with this trash or not, the value of the car is the same. You just need an extra $600 in dealer discount from an otherwise-optimized deal.
Take a step back and decide exactly what you should pay for this car (tons and tons of data here) before proceeding, and then make firm/actionable offers. You’ve now seen what happens when you just ask for a price.
Thank you for your help.
Based on their monthly payment, looks like they may have straight up misled me about the Money Factor. To get to $577/month, even with the $2k addons, looks like they have to be using 0.0031 (7.4% APR), which is quite bad (and not what they said they were using).
Hello Hackrs,
Trying to reproduce this on the calculator.
Dealer quoted $474/mo for a 0 down.
My hand-calculations suggest I should see $440.
I’ve also been unable to get LH calculator to spit out the quoted number. It seems to give ~$445.
What gives? Is there a hidden item the dealer is using? Or is the money factor just incorrect?
Could really use some eyes on this.
I was able to get a more reasonable quote (still not matching the broker ones I see around). But still doesn’t make sense the way they calculate it. See post right above this one. Any idea which component they’re playing with?
Can you get a breakdown of upfront charges? My guess is they didn’t include the acquisition fee in there disclosure. That would add about $20 a month to the payment. At this point though, I don’t think you are going to do much better. Inventory appears to be drying up, so great deals are harder to come by.
Ah, I see. I’ll try to have them confirm. There does seem to be a missing factor.
My calculations are:
Do they make sense?
I am significantly cheaper even with transport & broker fee.
949-775-1714.
lease wear and tear lol
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