Compare against the brokers listed here in your region.
One should never talk numbers with a dealer without knowing what a good deal is first.
You may be grasping at straws. Have you tried going to Edmund forums to look up the residual values, money factor, and available incentives (if any) for the car based on your zip code?
An average or bad deal will be one with high MF, low RV, and no Incentives plus dealer markup.
You have to start there.
Or just take the stelvio if it’s in budget and you don’t think you’ll look back on it. It’s ultimately your money.
How was this even remotely appealing to you when you could finance a G70, Sonata, Camry, etc instead?
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I’ve seen and heard a number of people now say it’s a bad time to lease but I’ve seen some lackluster explanations. Can you please elaborate on what you’re seeing and why this is a bad time to lease?
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Alfas are good value in this market imo.
Fantastic. Take it. See you in a few years.
What would you consider to not be lackluster? Current market dynamics are affected by many factors, it’sa terrible time to lease.
Well, I’ve seen a number of poorly framed arguments. The one above with Max G definitely helps explain it - I tried searching the forum yesterday and couldn’t find it but I assumed someone had a more in-depth explanation. For example, I found one article (I believe titled leasing is fleecing on motor biscuit) that tried comparing a 3 year lease to a 5 year finance and saying the overall cost to use the vehicle is less on the 5 year finance. However the article took the assumption that the car would still have 60% value after the 5 year finance - if that’s the case, then the actual value of the car after 3 years has to be higher than the 50-60% RV defined in the lease contract, therefore creating some positive equity in the car at the end of the lease time. Totally realize this is all speculative conjecture, crystal ball, etc. but it seemed like a critical flaw in the framework for the argument.
I’ve seen some say the APR on financing a car is less than leasing a car. Fair argument as a broad stroke statement, however I would think that’s very specific to the car. I’ve leased CX-5s for years now and the RV seems to be fairly consistent now to where it was 3-6 years ago - I think the MF appears fairly consistent although admittedly I haven’t done the research. The MF on the CX-5 that I was looking at yesterday equates to a 2.9% APR, compared to 2.49% APR for financing. I haven’t done the calculation to see what this equates to in actual dollars spent, but obviously that’s a much smaller gap compared to other cars.
Ultimately, I need to get a second car for the household and I’ve leased for the last 9 years but I keep hearing people say it’s a bad time to lease and I’m just trying to educate myself on why before I go and finance a car.
Keep in mind that a lot of lease companies have made capturing that equity much more difficult/expensive with the clamp down on 3rd party dealer sales.
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Looking at total cost of ownership is key vs focusing only on the monthly payment.
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A lot of people don’t think that far ahead.
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The microcosm of RV and MF doesn’t tell the whole story. The change in discounts and rebates has huge implications on a lease.
I bet if you looked at the total cost of your prior lease and a new one you’d see a big difference
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What state. Your getting a good deal. I just got stelvio veloce 22. 55k msrp. 2500 down 640 a month
$2500 as a cap cost reduction, or $2500 due at signing?
I don’t know what the difference is. What I’m actually trying to find an answer to is, on my contract regards to the down. It says I payed for the first months payment. I bought the car on September 21 2022. And just got a bill for a payment I need to send by October 21. Shouldn’t I get a bill next month since the first payment was covered in the down?
A down payment that goes to cap cost reduction doesn’t include TTL that one often also pays b/f taking possession of the car. How much did you pay when you signed the contract?
I’ve never leased a car b/f (and thus will defer to all the posters here), but perhaps a car lease is like renting an apartment, in terms of when the payment is due (so at the “start” of the month, not at the end).
You did. You paid the payment that covered the period from sept 21 to oct 21. They sent you a bill for the period that starts oct 21. Lease payments are made at the start of the period.