Well there you go… I’m just taking OP’s word for some of the stuff I don’t know!
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I reduced the CHEAPR incentive to $1500 (hope I can close the deal before that dries up to only $500) and also included the $500 bonus drive credit. What am I missing?
Why should I include the $650 acquisition fee? From the Hyundia offer website details
“Net capitalized cost of $16,075 includes $650 acquisition fee.”
The link you posted had full MSRP as the selling price, rebates as untaxed and no acquisition fee. This is as close as I can get it to 2000 “down”, really just covering the taxes and fees up front, assuming those DMV and dealer fees are correct, and the selling price is correct, as well as the 36/10 residual and MF.
I’m not sure what MSRP they are using for the ad, but if I take the MSRP you are using of $31235.00, subtract the 400 in suggested dealer contribution and the $14,500 in lease cash, and add in the 650 acquisition fee I get a cap cost of $16,985. Maybe the advertised deal is based on a lower MSRP? Lowest I’ve seen offhand is $30,700 and that would be a cap cost of $16450.00, so there might be a cheaper one out there that matches exactly.
I looked at the ad and the numbers are based off an MSRP of $31245.00 with a 400 dollar dealer discount, and the $650.00 acquisition fee added back in. Subtract the $14,500.00 in lease cash and 920 dollars cash down and you get exactly $16,075.00. Advertised deal is for 999 down, which is 79 first month, plus 920 cap cost reduction, plus taxes and fees.
A 7.4% discount is the benchmark so far from people who have actually managed to get one of these, so that’s what you should aim for, but when you are talking about a payment this low I don’t know how much its worth quibbling if they will only give you 5% off instead, lest you end up losing the car entirely if you really need it. At those numbers with the best discount we’ve seen so far, assuming your fees are correct you’re looking at 119 a month with tax before you get the $1,500 and the bonus drive rebates. At the very least test drive it and get your 50 dollar gift card for your troubles?
I also got a SoCal dealer with higher than national advertisement.
$3995 down
$105/month before ttl
Said he had 5 calls and three appointments. Besides the Russell Westbrook store, this may be the only other store with a base model.
Very entertaining thread. Enjoyed reading over dinner. I’d rather pay $1k a month for big smiles every single mile. But that’s just me, a great deal for others.
Sure is! I get my “big smiles” on vacations around the world.
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Sounds fun. I haven’t been on a vacation in probably 20 years. That’s my own fault though. Where’s your favorite place to go?
Hawai’i once or twice a year, Europe about once a year…need to add some variety since i been doing this for some time…problem is I absolutely hate flying.
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Bmw dealerships love the big spenders who like smiles per miles and they put them in 800 a month 550i. The ioniq deal, and in general, LH credo is to get the LH score as high as possible. Hence the term lease hackr not car enthusiast. The Ioniq deal is even more exciting in that an LH score of 50+ is achievable with added possibility of state/utility rebates of up to 4k in selected jurisdictions
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Only the break-down of Fees and the need to separately file bonusdrive probably via allstate site mentioned earlier in the thread.
Also your in NYS so tax is not done correctly I believe. We pay all the tax upfront on leases.
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Signed up to ask this question, does anyone know if the MD tax rebate ($3,000) is post sale? If so, I would have to agree to a lease with $3k down to take advantage of this as the leasee?
Was trying for a zero down (first month only) with all taxes fees rolled in at signing on base model, and getting only to ~$199 a month.
Thx
NYS will pay tax on lease upfront, plus tax on CCR plus tax on NYS incentive. So expect to drive off with a hefty bill of 3-5k…
Most rebates are post sale and you do not need to do 3k down to be eligible. The money is yours no matter how you structure the deal as long as you respect the lease duration and registration parameters (typically 36 months)
Thx, OK, I was mistaken it seems, in MD it is a tax credit similar to federal incentive. So as leasee I won’t see this, but Hyundai as ‘first owner’ would.
Driving off for $199 seems OK to me with all fees and taxes (6%) amortized over the term of the lease (36mo) but not sure.