First time using tips from LH to lease - a bit lost

[SR020020]

hello! I am trying to use tips to lease a Jeep Grand Cherokee and am a bit stuck - sorry, I’ve researched quite a bit but tend to learn better by asking questions. Here is what the sales person has shared.

MSRP: 52,110

Cap Cost: 43,000 (which she claims includes all rebates $5k)

Do I calculate like this (w 0 in incentives field): Leasehackr Calculator - Hack your next lease | Leasehackr

or

Do I calculate like this (w 5k in incentives field): Leasehackr Calculator - Hack your next lease | Leasehackr

[ahash]

You should have the selling price be $48k and then list the $5k under taxed incentives. But you also need to fill out gov fee and doc fee

[trism]

Which specific incentives apply, and what is the amount of each?

@SR020020

MSRP: 52,110

Cap Cost: 43,000 (which she claims includes all rebates $5k)

Your second calculator is double counting the $5k (let’s assume for now that this is a correct number) by including it in both the dealer discount and the incentives section.

Assuming the incentive stack is correct ($5k) the dealer discount would be

52110 - (43000+5000) = 4,110

This also assumes that they aren’t burying the cost of any worthless add-ons in the selling price.

[I didn’t check any of the rest of your inputs]

[max_g]

@SR020020

hello! I am trying to use tips to lease a Jeep Grand Cherokee and am a bit stuck - sorry, I’ve researched quite a bit but tend to learn better by asking questions.

It’s a valid question but your first question needs to be whether this car is hackable or not

[SR020020]

@max_g , can you please explain a bit more because my wife and I don’t fully get it (if that’s not clear yet). How can we figure out what is a hackable car?

[gohawks23]

Go thru this and learn the negotiables and how to play with…it will save you thousands!

LH Calculator and how to use it

One of the more common posts we see here are from people trying to utilize the LH Calculator and struggling to get the correct numbers. More often than not, this is the result of user error, so let this be a guide on how to use the calculator and what values go where. With that said, a few starting notes. Read these 3 times before continuing: The calculator is not perfect, there are some limitations in how things are calculated. Do not expect to match an offer perfectly. There are often diffe…

[max_g]

A hacked lease means it’s superior to other forms of ownership. So for example your GCL quote equals a total cost of $23,500+ and by definition that car goes back on a fixed date and you start all over again. The cost of unhacked leases keeps rising so your next lease could plausibly cost $25,000+

How much equity would you have if you made similar payments on a financed Pilot, Palluride or Highlander? Probably massive amounts of equity

My leased cars all fail that test. I’d be massively underwater after payments equal to two leases if I had financed instead. When I was in your shoes I ended up financing a Telluride. If I had to get one today I might even consider a Sorento.

[SR020020]

@gohawks23 this is super helpful and easy to follow. Thanks for sharing!

[gohawks23]

YW! After you master this try putting together your own spreadsheet as you will really learn that way!