The dealers are allowed to increase the money factor, typically limited to a specified amount. You have to do your due diligence with knowing what the number should be.
Yes, edmunds is typically quite accurate in regards to lease figures. That is the primary source which most of us turn to.
Edmunds is sharing info only as it relates to captives (e.g. BMWFS, MBFS, CCAP, etc.), and they are as accurate as you can get for free. Edmunds does not have access to third party lessors like Ally, US Bank, or credit unions. Depending on the dealer, vehicle, your credit history and all that, the dealer may be pricing you with a non-captive. Something to consider
Also add SETFS to that list.
A calculator is just a tool to construct your own offer and/or recalibrate someone else’s shared deal for your own taxes, incentives, RV/MF etc if they are different.
I’ve rarely seen anyone make any further headway by decoding a dealer quote into the LH calculator. If it matches, so what? Math doesn’t lie. If it doesn’t match, so what? Dealers aren’t going to lower their offer because your calculator said so. Chances are, it was the consumer’s error. If not, GL getting a dealer to admit it was theirs.
To be very candid, the ship sailed once the consumer asked for a quote instead of presenting a well-researched offer of their own.
They’re accurate. You can verify the RV on rodo or the vehicle brands website. A RV can’t be manipulated so if it’s spot on but the MF is up then they marked it up. If the RV is off they’re using a different bank or maybe the numbers were off.
Off topic,but where to find leasing data when Edmunds has closed the discussion; looking to lease a 2022 Niro EV and it has been closed by moderator.
“Dead on balls accurate”
Look at offers in the LH marketplace with calculator links.
You’re not going to believe this… there’s a good chance the dealer is lying.
There’s also a good chance the person you’re interfacing with doesn’t know… either a salesperson who doesn’t know what MF is or a “manager” who punches inputs into a computer that’s set up to apply max MF markup on every lease. The meaning of “buyrate” is Latin to them.
I’ve had a salesman confuse “no mark up on money factor” with qualifying for tier 1 or tier 2 financing. Telling me, “We don’t determine what tier you qualify for.”
Speaking of… what exactly is “buy rate”? Is it just a different term for MF?
I have never run into a salesperson who knew more than I did.
Yeah, most have no idea how a lease is even calculated. They just go by what the “guys in the office” print out. Or if they calculate it on their computer software, they just input your “down payment” and that’s about it.
One of the best movies for quotes.
I had once where Edmunds mod was wrong (because he forgot to add the 3 point rate bump on low mileage lease), and once where he stated a different mf then on the ccap sheet, not sure what the story was there.
Does anyone know how they get their numbers? Are they using publicly available information or do they have access to some kind of private dealer network?
More of the 2nd then the first. Considering they can look up all zip codes it’s definitely the 2nd.
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