Most of those low dollar lease had a few things in common, they had a bonus tag, were for 10k miles/year, 24-months, and one-pay leases. Also, on a 24 month lease, a difference of $1500 (Asian Conquest vs Current Conquest) is a change in monthly payments of ~$62.50/month.
The best way to do it is to negotiate to at least 10% off the MSRP prior to the taking off any rebates. That’s how I was able to get my payment to $147 a month on a 24/12. I did not have the Asian Conquest rebate either. This was on a Trax LT MSRP of 24245.
Looks like the net residual is too low. Doesn’t make sense. I would try a different dealer. This one is screwing with you. Tell them 24/10 one pay waive the acquisition fee. If they flinch, 100 % go somewhere else.
I have a follow up question to these deals - is there a minimum time period that these leases have to run for, or can I trade my Trax in whenever I like? How do the financials work with most of the discounts being in manufacturer rebate form? As my lease was a single pay, do I simply owe the end of lease buyout price on my contract, or will something come up at trade in time that trips me up financially?
I’m thinking of potentially trading in for a new one every time there are these great programs available. Seems to me like it would be fun to get a new car every 3-6 months, current value would be higher than the trade in so some + equity, and also not really have to worry about the mileage as it will be well under the 20K every time.
Have I got this wrong?
The only thing that will trip you up is (1) excess miles; (2) excess wear and tear and (3) any turn-in fee if applicable. You are responsible for these at turn in (early or not).
You can turn in your car early and you will owe nothing more than the items above as you already paid for the entire lease up front (single-pay). Obviously, you won’t get any money back if you just turn it in.