Hi All,
I am a newbie to this forum, still trying to catch up with a lot of stuff and thank you all for sharing valuable information.
Just wanted to understand the term ‘Lease Credit’ properly.
Does it mean I am eligible for extra discount after applying all the incentives n all? For instance, the 2017 3 series seem to have $3000 lease credit. If the MSRP is 54K and the selling price is $47K, can I still get additional $3k off for lease credit?
Thanks in advance!
It’s just a rebate/incentive.
That $3K would be used as a down payment on the lease.
Thanks @Jon, @Boomba! So I should be able to get an additional discount off the sale price then? Not sure how the dealers mix up the discounts and lease credit in general.
The effect to you, the customer leasing, the effect is the same whether the sales price is lowered or the rebate is used as a downpayment, generally. However, depending on your state, the sales tax might be higher or lower depending on how it’s done. I’ve never had to deal with that since my state doesn’t tax rebates in any way, so it’s all a wash. Only thing that is taxed is the final monthly lease payment, regardless of how it got calculated.
makes sense now…Thank you!
Many dealers will quote with the incentive already included in their sales price.
oh okay, yeah I was thinking the same too but just wanted to get your input here as well.