I’m trying to work through the following offer but numbers have not added up despite using the calculators.
Is this a good deal?
Discovery SE 2020, selling price59,900, residual 39,549/.64 , rebate 1k, 1.99 APR, Fees 575, cap cost reduction 1k. 0 down and 937.76/mo x 33 months. Also offered 947mo x 36mo w/ residual of 37,077/.60.
Apologies in advance for any glaring issues I should have easily seen, but this is all new to me and the learning curve is pretty steep right now. Thanks for any input.
What is the MSRP of the vehicle?
What does edmunds say for mf/rv/incentives?
$1895 is a pretty miserable discount.
You’ll want to verify if the dealer is marking up the mf at all and if there are any other incentives being rolled into that discount (doubtful on the latter, as JLR doesn’t usually offer tons of incentives, but still should verify).
Thank you. I closed window w/ Edmunds info so trying to recalc those figures.
No calculation needed. Go to the lease forum for the 2020 disco on edmunds and ask specifically for those values for your zip code.
That’s pretty miserable deal. You should have get monthly payments at 558 including tax
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You should run away 
♂
Based on what? I agree it isn’t a good deal, but I doubt there is $14000 hiding in it.
Yes - not a good offer. It is the first offer after phone calls and emails. Would need significant reduction if price to consider. Any other glaring problems beyond mere $1895 reduction?
Can’t really answer that without knowing what mf/incentives should be.
Got it - requested info on Edmunds and searched for zip w/in close proximity but no recent posting I can cull info from. Will update when I have it. I normally have more time to educate myself on new car purchases but I don’t have that luxury now so greatly appreciate all help and insight.
From Edmunds
.00180 MF
64%/60%/58% residual
$1000 bonus credit
Where did you get the 1.99% APR number from in the first post?
The dealer
They said that’s what they’re charging for a lease or that’s what’s available if you finance?
1.99% APR equates to a .0008 MF, which is actually a good bit less than what edmunds is quoting.
Yes. Glad you specified those number b/c that is exactly what I came up with too. I could not reconcile the quote and the stated interest rate of 1.99% which is what led me here.
What’s your tax rate? Which state are you in?
North Carolina 3%
As a Californian, I hate you
So their numbers don’t add up at all. Based on the deal sheet they provided, assuming a 1.99% APR as quoted, you should be at $758/ mo with $0 down.
If we correct the MF to what edmunds is quoting, this goes up to $862/ mo with $0 down.