Thank you! That helps us in our due diligence.
Does anyone know what it means when a request has no available data? It was a 2023 Ioniq 5 Limited. Does that mean thereâs no lease program? The 2024 numbers showed up fine.
If itâs at the beginning of the month, it usually means that the captive banks havenât published the updated rates yet.
If itâs in the middle of the month, it most likely means that the captive lender didnât publish the rates for the specific model.
Iâve got a question about the leasehackr score (i.e., the number of years). The OP seems to suggest that you canât tell much from this score, but I saw other posts which presented this as a possible guideline for determining if you are getting a good deal.
So which is it? Should I ignore it or is it a useful piece of info? If useful, how should I use it? Are there ranges to keep in mind (e.g. > X is a good deal, < Y is a terrible deal)?
Letâs put it this wayâŚ
Two people are looking at the same car. Person A negotiates a 2% dealer discount, but lives in a state with no taxes and qualifies for an extra $5000 in incentives. They get an LH score of 10.
Person B negotiates a 10% dealer discount, but lives in a high tax state and doesnât qualify for any extra incentives. They get an LH score of 7.
Who got the best deal for their circumstance? Surely a 10 is way better than a 7.
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To add a little more clarity here, what Matt is saying is that in some states and/or with some vehicles, you may never produce a LH score thatâs as high a score from a state where the car gets greater incentives or has lower state taxes. Comparing those score would be apples to oranges.
What it can tell you, however, is within a state, with the same vehicle, a higher score is going to be a better deal in almost every circumstance. For example, if I lease a BMW IX in Virginia, I will pay sales tax on the selling price of that vehicle (4.15% x 80-100k). If I got that same car, with the same incentives, but I lived in New Jersey, I would pay no taxes at all (only until October sadly). Point being, I will never get a higher LH score on the same car in VA vs NJ, all else equal.
Itâs important to only compare scores on the same vehicles, in the same states. Many of the elder statesmen here hate the LH score, as it consistently confuses new users and can mislead some into comparing bad deals in good leasing states, to good deals in bad leasing states, or between cars whoâs incentives are massively different, as Matt has described above. It was intended to be a general guide, and not a definitive measure of a good deal. That said, those deals that break the scoreboard (I think I remember a few LH scores in the 30+ range) are definitely good deals, as it takes the right combination of discount, incentives, and locale to score a deal with numbers that high
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Thanks. Makes sense.
Dumb question, why does the monthly payment change when I input the sales price as the MSRP?
Say that the MSRP is $60,000 but I negotiated it down to $55,000, before incentives. The monthly payment amount is greatly different if I just entered $55,000 MSRP with a 0% discount, equaling a $55,000 sales price.
Ultimately Iâm trying to figure out what number I need them to sell at to be within my payment range with the incentives I qualify for.
Iâm looking at several cars with several options (RV and MF seems to be the same across all). I just want to know if $55k is the top of my purchase price, regardless of MSRP
Well that would lower the RV, because RV is a direct function of MSRP ($RV = %RV x MSRP)
You change the selling price. And if applicable to the brand you also pull other levers such as MSD, onepay, etc.
MSRP is always MSRP, it doesnât vary with negotiation.
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