First, shout out to Kief for alerting me to this deal on the east coast. I was aware that these buggies were leasing for free in Colorado, but didn’t realize that so many were “rotting” on dealer lots here in the east, prompting large markdowns. My deal is similar to Kief’s, with a couple of tweaks: Where I am in NC, Fiat dealers have an additional $2000 lease credit right now. My dealer also had some dealer add-ons baked into the price, which may or may not have been necessary to get the deal over the SFS-approval hump. Hence, we arrive at the following:
I think there may have been room to wiggle this down even further, but my original email to the sales manager offered a single-pay of $950 and he got close enough that I didn’t want to look a gift horse in the mouth. This was the only 500e that this particular dealer had on the lot, so please don’t DM me for referrals. That being said, I think it may be possible for another individual to beat this with some legwork.
They offered the $600 in charging credits, but I plan to charge at home so I went with the free L2 charger instead.
March 21 Update: SFS sent a check for $236 for “Difference in transfer fees”. Now Single pay = $835 or $30.93 monthly all-in.
can someone break down single pay? i followed the line items but then got confused. did they SELL him the car for 18k? and he single paid the difference? where did that 18k go?
Good work @Dylan_Brooks
BTW, if that was the black one at Mt. Airy, that was my first choice but they wouldn’t match/beat my other deal. I’m sure my being out of state didn’t help either.
Enjoy that blackened meatball!!
First start with a “normal” 24 month lease where the lessee pays $2,000 at signing ($500 first payment and $1,500 of other inceptions). The dealership takes this check, but the subsequent 23 other payments will be paid to the lease servicer. For the sake of this example, assume an arbitrary/random money factor of 0.0010. The sum total payments would be 23 x $500 + $2000 = $13,500.
Now, let’s assume a what-if scenario where the almost-exact same lease has a money factor of 0.0004. First start with a “normal” 24 month lease where the lessee pays $1,950 at signing ($450 first payment and $1,500 of other inceptions). The dealership takes this check, but the subsequent 23 other payments will be paid to the lease servicer. The sum total payments for this what-if would be 23 x $450 + $1,950 = $12,300.
The one-pay is a way for a lessee to save money over the life of the lease because it should allow access to a lower money factor. So with my garbage fake examples… the one-pay would be $12,300 (because of the lower money factor), but a regular lease would see $13,500 leave the lessee’s pocket over the life of the 24 months.
