This is a terrible deal. First off, never put $8k down on a lease, but if you are, your payments should be closer to $250/mo. Never do a 45 month term. Surprised TFS even offers such a term.
As a common question, if your vehicle was totaled before you buy it out, you would lose all or at least majority of your downpayment. But first of all, your numbers doesn’t match on calculator. If you put 8000 down, with such discount and rebate, your payment should be much much lower than 480/mo.
$0 down payment, 36 months and max 9 MSDs. If you are going to buy it out, why not just finance it to begin with? You wouldn’t have to pay the acq fee and can get a lower APR?
One thing that I’m a little confused about is: if $8,000 lowers your monthly payment by $XXX amount, why is that any different than not paying that initially and having a higher payment vs. paying that amount over time as the result of higher monthly payments?
So your point is that this would be a good deal if I:
Put less down
Shorter term
Used MSDs
This would result in a substantially higher monthly payment, no? So the general sense of a good deal is to pay more, but carry less risk? i.e., car being totaled?
Assuming residual and incentives are the same in CA as they are in the Northeast, your terms were grotesquely, artificially inflated. Not a dealer is want to work with.
But, you have to arm yourself with knowledge before you walk through the door about the process before soliciting a quote. Salesperson smelled fresh meat. Hard to blame him/her.
Unfortunately they are not. Residual is set to 50-52% here; and not the 59% seen in the tri-state area I guess. Money factor is different as well. And, these aren’t negotiable. Out of curiosity, how does a dealer artificially inflate things?
Minus putting money down, not sure how else I can negotiate a better deal? Seems as if that RX deal is still going to be in the mid 500’s after tax a month? Pretty on par with mine if I didn’t put anything down, or?