New to leasing, but I do know about the $7500 leasing credit that dealers pass down. This opens up a wider range of cars as opposed to the $7500 buying credit.
Now if I lease, get the $7500 credit, immediately buy out the lease or buy it out at the end of the 3 years, do I save any money compared to buying the car brand new (without any credits)?
yes
10 char
Is it a full $7500 less than buying new or something much less? How would I know?
Do the math? Just look at the selling price of the lease?
its hard to get numbers from the dealer unless i spend a lot of time, sit with them, give them a lot of info
Not really.
If that is your experience, find another dealer.
You dont need numbers from the dealer.
You should know exactly what the vehicle should cost before ever talking to a dealer.
Roughly: the amount of tax credit passed-on as an incentive (not everyone passes 100%), less acquisition and disposition fee, less the rent charges you will pay between lease inception and payoff. All of these are numbers you can lookup, by brand, without ever talking to a dealer.
This.
Plus - I think there are only a handful of cars that even get the full 7500 on purchase, and the top 2 that come to mind don’t (explicitly) pass on the 7500 on the lease side, bolt and MY.
I am sure there are, but I can’t think of a car you could do this analysis on? What’s out there that gets 7500 purchase and also lease?
Really the point of this is for vehicles where $7500 is available on leasing and nothing/half is available for a purchase. Some of the Jeep 4xes, for example, get like $12500 on leases and nothing on purchases (other than the $3750 tax credit you can get when you file).
where can I go to lookup all the detailed pricing breakdown? dealer’s website?
You have any more info on this or where to look to see the details and link for lease on here please. Thanks.
What specifically are you looking for information wise?
Given some car, whats the best deal for downpay + monthly (including all discounts) and buyout price at the end. Its not that easy to find.
It’s always the same process. Look at comp deals to establish a target dealer discount, then plug in the values into the the lease calculator with the lease programs as they apply to your situation. Always start by creating a target deal.
Why have you tagged both CA and TX? Two completely different tax structures that affect what can and cannot be a good deal.
Whether this is a good idea depends on which make, model and trim you’re talking about. Sometimes it makes sense to buy out and sometimes it doesn’t.
Calling it a $7500 lease credit is kind of unnecessarily confusing the point. The government gives the leasing company a credit of $7500. It doesn’t have anything to do with you. Some leasing companies choose to also give lessors a $7500, which happens to be the same as the credit they get from the government, but it could just as well be $2000, or $20,000, or they could give you $7500 and jack the price up by $15,000. Your concern is just the monthly/OTD.
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