The dealer says this is the best he’s got and I don’t want to be an unrealistic jerk:
MSRP: $50,195
Sale price: $45,000
Money Factor: .00152
Rebate: $9500 (I qualify for fleet b/c of the university I graduated from, but the dealer is stubbornly not factoring the additional $500 into his calculations). I don’t qualify for loyalty.
30/10K
Doc fee: 80
Tax on cap cost reduction: $810
License/Title/Reg $545
Other fees (which he hasn’t itemized): 63
Tax: $7.75%
Total due at signing: $2375
Monthly $285
It took a while for him to show me numbers with taxes/fees/license/cap cost upfront.
Initially, he wanted these rolled into the lease
Right now, he’s agreed to “let” me pay the acquisition fee upfront, but he is still adding it to the gross capital cost (essentially making the sale price: $45925 and calculating everything from there). Is this customary?
I don’t know enough about leases (only recently started reading the forum) to know if this is an OK deal. I don’t have to lease this car right now so I can walk w/o regret if the deal is unsound.
Thank you!!
Sales price is a good bit higher than we have been seeing. Seems like most everyone has been able to get 13.5% off MSRP before incentives. You should be at around $43k after $500 deduction for fleet. Rolling in acquisition fee is typical since it is taxable anyhow and interest rate is relatively low.
Wait it out. Enough deals at a greater discount and enough i3s leftover that I think it would be crazy not to push for more and do a deal at end of month. I think 2017 incentives are drying up so dealers should be extra motivated this month. The extra $2,000 will drop your payment down close to $200.
That was my instinct too but am glad to hear it on here. I don’t mind missing out on the car if he sells it —and can wait for as long as I need to in 2018 to get better # so I don’t think there’s any inherent risk in evaluating options. My Prius still runs just fine and it’s paid for, but I want to try out an electric car next.
One last question for anyone who might know:
is the acquisition fee usually added to the gross capital cost even if it’s paid upfront? It seems like it’ s bringing up the sale price by almost 1K?
Thank you
So he is adding it to the final price before incentives. Like this:
Gross Capital Cost: $45,000
$45,925 (although I made it clear I wanted to pay it upfront)
And then subtracting 10,377 to get to the adjusted capital cost of 35,547
I’m not following the reasoning behind this so I assumed it was either customary or done to marginally increase the cost of the lease somehow.
