Hello all, hoping you can help me cross-check this lease deal. In Ohio for what it’s worth.
Car is ‘23 ID.4 S RWD
MSRP: $45,696
MSRP Discount: 7.8%
MSRP after discount: $42,071
MF:.002%
Term: 12K/24MO
Monthly payment is $329
Trading in a car with $5,249 in equity but only $4,870 is being used for down payment ($379 being used for tax)
Rebate: $7500 pass through ($6,416.60 after $500.50 applied to tax)
Net Cap Cost: $32,440
Adjusted RV: $27,417
I think you should try to get a 3 year or 39 month/10k lease to the same value. Else I feel it’s probably 1- 1.5k overpriced . Your net cap - residual = 5000 and diving by 24 that comes to 210 . They are adding additional 110 per month as interest fee . 3 year or 39 month at same price will make this a great deal.
And the S is not really selling well . So you can try to get 11 -12 % on msrp if you have time and patience. If you are steadfast with the amount of equity you have you can try to shoot for 260 per month . Note that 5500 is technically 200 more per month so technically you are paying 550 per month on a S . I think anything more than 450 monthly on this car is too much.
Get the trade in separate and lease separate. Agree on a lease value say at 450 monthly. Now get the trade in separately and apply it towards the depreciation . That way your monthly is in 200s as opposed to 329.
Can you stretch to 39.i tweaked the calculator a bit. Check if those changes are reflected ? Increased the discount to 9% and terms to 39 / 10k with residual of 54% over 39 months as opposed to 60% over 2 years .
