Post: Had 1.5 months left on my old gulia lease (24 months, 2018 base, $370/month in tx), dealer offered to pay off the $454 left and use some tax credits. I said I’d be interested only if they could exactly match my old monthly ($370) with only first month payment, all while paying off that last little bit. They came through, I did end up being upsold slightly from the base to the Ti though.
I couldnt’ quite get the calculator to work as I couldnt find all the info, but I got pretty close. Overall pretty happy - small changes from my 2018 to 2020, but I look at the car as a utility, I pay about $400/month (outside of insurance) to have a gassed up car and not worry about any problems (before you poke fun at it being an unreliable alfa This is my 3rd, never had any major problems outside of a dead battery from the car sitting idle for a month)
Year, Make, Model, and Trim: 2020, Alfa Gulia, anodized blue metallic (+$600), Ti, options: Ti RWD Package 22t (Active blind spot @ +$650), Neo Edizone (@$1250), Wireless Charging (+$300). Ally leasing.
Monthly Payment: $377
Drive-Off Amount: $ First Month @ $377
Annual Mileage: 10,000 (literally double what my car does each normal year)
Incentives: $6,000 capitalized cost reduction.
Leasehackr Score: 12 years
Leasehackr Calculator Link: Link
How did I do? What numbers am i missing that’s useful?
im not certain I’m pulling the right numbers off my agreement, but it works out pretty close. I used "agreed upon value’ for selling price, but didnt know the money factor so i left that at default.
That residual looks so wrong, 61%!!!
Can you post your censored contract
Is this the right part? I’m not an expert at all, I started with the price I was willing to pay per month and they got really close but they did upsell me on the $7 to get to a to versus base. Absolutely could be misinterpreting the terminology.
And this is done without sales tax credit? Very impressive.
Not possible. It was 60% at 24 months last time I checked. Something doesn’t add up.
I’d love a full size of contract. I’m interested
Residual looks like 46% for 39/10, which sounds right.
Typical MFs for the Ti are super low, around .0000x to .0001x
$3500 in lease cash (bonus, holiday event, customer cash)
Plus $1000 for loyalty
I still can’t make sense of this.
OP - can you post the redacted contract? I think everyone’s genuinely curious now… that it’s a good deal, but it’s not adding up. Hopefully the dealer doesn’t unwind it.
Even that little piece of the contract…
Depreciation and amortized amount: $14,902.58
Rent charge: $336.28
Total: 15,238.86 / 39 = $390.74
Clear as mud where $377 is coming from.
Based on the MSRP, selling price (only 10% off, mind you), rebates, RV, and fees that have all been disclosed so far, here is the adjusted calculator. So, with 0 tax and 0 MF, it still doesn’t come to 377. Before seeing the contract, I’ll make a wild prediction this one is getting unwound. They could lower the selling price, though, and re-sign the deal. A 12% discount and .00009 MF could make it work.
I was going to say last night when this was posted it’s the best Giulia deal I’ve seen in a long time.
The biggest red flag was the OP saying it’s his 2nd Giulia but he misspelled it 3 times.
If it does get unwound don’t do the 39 month, it’s rarely worth it with the inspection, registration for the extra 3 months. Also I’d be interested to know if Alfa/Ally insist the 3 year service gets done even if you’re way under miles, as that’s more $$$$.
Hah. Sorry about the misspelling, careless typing on my phone.
I think why I’ve confused everyone is my excluding the $13 I’m paying for a wear and Tear coverage. It’s $377 for the car and $13 for wear and tear through the dealership. Normally wouldn’t do wear and tear but my kiddo dragged her bike between our two garaged cars scratching all the way down. Agreed to have the dealership fix that for $800 so $13 for 39 months seems good to offset that, a bit of tire rash and some door dings over a long 39 months. My old return was a 2 year lease on a 2018 giulia. They didn’t tell me what discounts they were applying or where the $6k cost reduction came from except ally tax credits.
Sorry for the confusion, will post the redacted contract and also the Wear and tear rider/cost tonight or tomorrow. I’m encouraged by the responses though, seems like I got a good deal.
The one concern though is all the talk of unwinding. When can I rest easy on that? Any risk to posting this stuff before it’s past that period?
No risk. Bank will fund or they won’t. If you get a bill for your next payment, you are in the clear.
You were paying $370/m for 24 months. I don’t think you can get such a great deal again. Buy $377/m for 39 is still great! Congrats, how is the 2020 vs 2018?
Mind sharing which TX dealer?
Is it possible that because he mentions he only puts 5k miles per year on a 10k lease (so he only used 15k of 30k total) the dealer factored in equity he knew he would have remaining on the traded-in vehicle and applied as discount to get to this $377 lease? Just thinking out loud.
I’d be interested in the contact at the dealer.
No. RV is correct, as already stated.