“Yes” or “no” to your offer is the only thing worth hearing from them.
I’ve assembled a proposal. There are very few IONIQ 6 in signed deals section, and I can’t finding anything to guide in Marketplace. Using MF, RV, and incentives for AWD SEL 12,000 / 24 months in the calculator:
In the calculator I used 5.84% discount off of MSRP. Between 7-8% looks to be about right as aggressive as it gets, and will be my target. I’ve done the research. Will see where this goes.
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I’ve sent proposals to more than a dozen dealers within 150 miles that have the vehicle. Got another counteroffer. I’ve entered the VIN in ratefinder and the other lease terms into the calculator.
Dealer says $480 / month for 24 months for a total of $11,520. The calculator say $413 and $9,915. How does one resolve the discrepancy? Do I need to go through each step in calculating monthly depreciation, taxes, and fees? I suppose I could expand my search to 500 miles and contact 30+ dealers.
What did you offer?
$430 / month. Not getting close on any counteroffers.
Sounds like they just didn’t accept your offer rather than there being a discrepancy
If MF, RV, and manufacturer rebates are standard, and the dealer provides the discount and fees, and I feel it is good to confirm the calculations. See where the deal falls short. Looks like my initial cursory research and intuition about the offer in my first post was sound.
How are folks able to find the discrepancy without seeing their counter? Ultimately, as @mllcb42 says, it doesn’t matter if they didn’t accept your offer, unless of course they made some sort of accounting error they are willing to fix.
How are folks able to find the discrepancy without seeing their counter?
It’s some work, but I believe it can be done. The counteroffer has the details. They could be making an innocent accounting error, or inflating the MF, or trying to pull some shenanigans. I’ve seen calculations that walk through each step in calculating monthly depreciation, rent charge, etc to come up with a final monthly payment amount. That’s a good thing, IMHO. I don’t blindly trust. I’m doing research, and I’m hacking.
I know it can be done. My point was… did you upload their offer so folks can help find the discrepancy?
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Thanks. Understand. It’s an image sent via text in my phone. Will get the image in here soon.
It’s a buyers’ market at the moment. Any reason why you chose the Io6 when so many other EVs are easily available for less?
Buy rate mf is set, but that doesn’t mean they aren’t marking it up in their numbers, in which case they simply aren’t agreeing to your offer.
It’s a very fine automobile. I like sedans, and there aren’t many EV sedans. I can afford the cost. Just trying to secure a great deal. Someone recently told me that dealer markup on Hyundai EVs is small, so discounts are not large. I don’t know if that is a true statement. Maybe $480-$490 / month is a great deal. I’ve seen lower, but mostly in CA.
You’re in Delaware. If memory serves, taxes are weird in Delaware, not monthly, so your calc may be part of the issue
That was precisely my thought. One sales rep told me, “MF is set by HMF!”. As if I don’t know about MF markup.
Yeah I can get a BMW i4 or Audi A6 for similar so can’t agree.
It really doesn’t matter though. If you offered “430/mo” as an unambiguous offer, then mark ups, taxes, etc are irrelevant. They either get to $430 or they don’t.
If you offered a $48500 selling price, which you think should come out to $430/mo, it is all a very different discussion.
DE tax calculation is a PIA. It’s 4.25% of sales price + 1.999% of rent payment. I’ve been using 6.25% as a ballpark estimate. Wish I know how to accurately parse it out.