Just wanted to get a second opinion:
MSRP: $ 23,200
36 Months
12 K Miles Per Year
Residual 13,500
$283 per month
0 DAS but broker fees
Options:
All Weather Liner
Black Emblem Overlays
Alloy Wheel
Thoughts?
Your best bet for determining if this is a good deal or not is to first establish a target deal based on the lease programs as they apply to your situation and a researched pre-incentive discount target.
That is what my Issue is… how to establish a target deal. I do not lease often so… it is difficult for me to comprehend.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
- Read Leasing 101 (Blog | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
- Pick a specific vehicle that you want to target
- Gather the current MF, RV and incentives from Edmunds forums for your zip code
- Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
- Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
- Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
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