Trying to work my first lease deal in more than 20 years. This is what I have so far, is this a solid deal or do I need to do more negotiating? Any tips?
Looks like a bad deal. Only 1K as a discount before rebates is laughable.
Not to mention your putting down 2K not including fees.
Negotiate further or look elsewhere
The down payment will simply make the capitalized cost of the car lower, only you would be doing it with your own money rather than a discount from the dealer or incentives/rebates.
Also keep in mind in most cases if a car is stolen you lose your down payment.
So in essence, I can reduce the CAP cost by adding more down payment (Unwise and risky if accident/stolen scenario) or by negotiating a lower sales price and more rebates, is this correct?
Yes, but try to do ZERO using your own money, paying only inception fees (Tax, License, etc.), or even roll the fees into the lease and just pay first months payment. You should be able to get that same price or close to it without putting 2K down. It looks like part of that $2k is covering those fees in a way, but it should be more like $800 to $1200 to cover those fees upfront.
Great feedback, thanks. Just got off the phone and am now at a 5% discount off of MSRP + the additional $1950 rebate. How much further should/can I push?
MSRP $29,135.00
Sales negotiated discount -1465
Rebate -1950
Final Sales Price $25,720.00
Money Factor 0.000001
Residual Value 55% $16,024.25
DMV Fees 398
Acquisition Fee 595 Cash Down 0
Term 33
Miles 15k
Price to Value Difference / CAP COST? $9,695.75
Monthly Payment$353.90
Total Payments $11,678.70
Cost per mile $0.28
Ed - that’s LA tax rate. I’m in the same market, looking for the same model. How did you score this deal? I’m getting these terms on a Touring and had to haggle for it. Mind sharing the dealership? I can pm you. TIA.
10% is possible, 6%-7% should be very easy though. That is all before rebate. There are many posts about this car and I have posted up my deal in other threads.
