I generally prefer buy but anticipating to lease a vehicle this time as I may sell it within 12 months so don’t want to pay taxes on the entire amount. Here’s my rationale
On lease I’ve to pay tax on monthly payments so longer the duration and lower the payment, less tax to be paid ( I know it’s just 10%, but still ). Also if residual between 24 and 48 is almost minimal. This way if I want to keep the car for 4 years, I can but if I decide to sell early, I’ll have paid less . I understand I may be in negative equity.
I’ve attached the lease sheet. This is a slightly different one as I am looking at one with more options. MSRP of $57,700 and final price of $45,981. In the paper provided, they’ve added Permaplate, Complete theft and Miles charges of $1599, which I may be able to reduce it.
This is the lease calculator. I can probably do MSD to reduce it further if it makes sense or 1 pay. this seems to be the calculator so cost over 4 years is $19286 which comes to $416.37 but calculator is showing $536.
Sorry I apologize if I wasn’t clear. I mentioned that I want the option to sell early ( and take the equity loss if there is at that time ) , but overall I do intend to keep it
Why is it not shown on the deal sheet then? The fleet doesnt go with the rebates on MB… its included in the discount. If the answer is “well, i hadnt told them about fleet yet”, then it would have shown $8500, not $7500
Or to put it more directly, when you calculated your target deal with the $2500 included prior to reaching out to the dealer, you got what the lease should be. Does their number claiming it is included jive with your target?
Nobody wants these cars new. Even fewer are gonna want it used. It will depreciate like a rock and more than wipe out any tax savings from leasing. If you’re looking for a 12 month car either do a lease transfer or find a car with a more gentle depreciation curve like a Lexus.
I would be very leery of doing a lease to purchase on this car. As other stated you’ll be very much underwater.
If you are in Norcal and willing to keep the car, I’d go with @oarfish18 or @vc.joey deals – not going to get much better in this market, and they are very, very competitive. Check Marketplace - FORUM | LEASEHACKR
@mllcb42 As per him it’ll be $1500 Fleet so I am assuming he added $1000 in the price. I’ll get more info but probably you’re right.
@postal007 - @oarfish18 deal is good and that’s the alternative, This is a loaner so I though this may turns out to be even better. Issue is that I’ve already reached out to her dealership before knowing about her so there may be some issue going with her
@themachine Will Check out the lease transfers too. Most of them were really bad ,. My assumption is that my maximum liability is the total lease payment which I am oaky with taking the loss just in case if it doesn’t sell out.
As @max_g said, you need to choose a direction between 12 and 48 and not be partially pregnant. If not sure, look more into lease transfers or consider buying used.
If your income is low enough, look into used cars that qualify for $4K tax credit (EV, PHEV) and possibly combine with local electric incentives. That will definitely soften depreciation blow and cover sales tax.
I wouldn’t worry about going through someone else at the same dealership. Just because you talked with someone before, that doesn’t mean your are locked into dealing with that particular person. If going through a salesperson with a Leasehackr presence gets the deal done for the dealership, they’ll be more than happy to take your money and get another EQB off the lot.
