First time leaser here… I didn’t get an itemized breakdown from the dealer yet, but when I plug in all of the numbers to the calculator, I end up at the exact monthly payment and first month’s payment. Please feel free to give any advice or pointers as I’m still pretty new to this.
You need to separate the discount and the incentives to appropriately compare deals.
That’s not a great deal, in my opinion.
Nine days ago, we picked up an EV9 Land ($74,115 MSRP) on a 24/10 lease at effectively $500/month:
- True zero drive-off lease
- First month free (covered by rebate)
- $522 for the remaining 23 months
- All dealer fees, taxes, and registration included
NYC dealer did the deal.
We had no special rebates or discounts; we just reached out to a bunch of dealers in the tristate area, asking for 12.5% off MSRP plus rebates with buy rate MF, until a dealer said yes.
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PM users directly with these types of questions.
Thank you, yes, I am hoping to get a deal more similar to that. You’re referring to 12.5% off of MSRP before the EV rebate, correct? And when you say buy rate MF, does that just mean the MF is not marked up? What does that translate to as a percentage?
Thanks on your help with this!
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Dealer discount is off MSRP before rebates, which further decreased cap cost by an additional $9,800.
Buy rate MF does mean that the MF was not marked up.
MF was 0.00005, and thus rent (interest on capitalized cost) is about 0.12%, or about $5 per month.
In practical terms, we’re just paying depreciation (RV is 64% = $47,430), tax, and registration costs.
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