Hi - I’m happy to have discovered this forum and hope you may be able to help out a leasing-newbie. We need a new car, want to go electric, and leasing makes sense for us because we only drive urban errands (<10k miles/year); we may move away after three years; our family may still grow; and EVs are evolving so fast, so we don’t want to fully commit to an early generation model. We are based in Maryland, just outside DC.
We are eying the ID4, however, the lease offer I got from the dealer seems… not great? For zero-down, all-fees rolled into monthly payments, 36 months, 10,000 miles, I got an offer of $811/month. If input the numbers in the calculator, I get a Leasehackr score of only 4.4 years. Another dealer in the area sent me an offer for around $750 for the same terms. Both offers seems high based on reading forum entries here and the score…
However, looking at the quote I was sent (reproduced below), I can’t spot what the unreasonable part is. Is the problem that the dealer is assuming too low a residual value i.e. making us pay too much of the car value in the first three years? Is this the argument I should make when trying to bargain? How much of a reduction is realistic when approaching a dealer? If other dealers in the area are pricing similarly, do I even have a chance or should just switch to another model?
PS: I should add that if we purchased the ID-4 , we would not qualify for the federal tax credit due to our tax status i.e. likely pay full retail price plus tax at around $48,500
For this money you could easily just purchase a Model 3 or get a Model Y for a bit more. The residual for ID.4 is horrible - around 50% and that’s just ridiculous for leases.
Also, what’s the MSRP on the ID.4? Check the window sticker.
Thanks for the response. We don’t want to purchase for the reasons given above. The actual retail price we’d pay would likely be $48k because we can’t get the federal tax credit when buying.
If this offer is so bad, what’s the reason? @HersheySweet above seems to say MD lease taxes play a role but those would be the same for any model, right? Also, they explain only about $40/month…
Regarding the residual (@ilike2breakthngs) - is that better for other EVs or just generally much lower for EVs compared to gas/hybrids?
@ras815 Thanks for putting it in perspective… it does sound absurd when stated as paying 30k rent for three years for what “should be” a mid-30k car… then again, if we actually bought it, it would be a ~$48k car (as mentioned, we can’t get the federal tax credit and dealers don’t seem to give a lot of discounts currently)
What does the window sticker say. The dealer offer lists a market value selling price and then itemizes destination. The question at hand is if that is msrp or if they’re marking it up above msrp.
