I found the 4Runner off-road premium that I wanted with all of the options I desired. Input that MSRP into the calc, checked the Edmunds forums for the RV (73%) and MF (.00235) for the 4Runner off-road premium 36/10 for Las Vegas Nevada. Great. Input those numbers put 1k down $500 in taxable incentives for being a recent college grad and got a monthly payment of $565.
Also great. I’ll take one in white lol.
So I reach out to my local autonation dealer (who was been mandated to sell at MSRP) and they tell me with $2k down (twice as much as I’d be putting down per the calc) I’d be at 709 a month for 36/12. I did tell them 36/10 but they must’ve missed that.
What gives? Why such a large discrepancy between the numbers? I asked for a lease worksheet but only got the abbreviated version so I’m hoping someone will help set my light bulb off or show me where one of us is going wrong?
I guess that depends on what max markup looks like.
Without seeing if they’re doing any other market adjustments or adds, I wouldn’t be out of line to suggest there’s 120bps of markup in the rate represented there.
Thanks for the reply! I did ask for a lease sheet but haven’t gotten one yet. They said that this is just the cost. They aren’t allowed to do markups allegedly. But from what I’ve shown are my calculations right?
For instance, if I found another local dealer is it possible to get close to what my calculations show?
I mean it’s an in demand car, if you can find a dealer that’s willing to play straight sticker and not jack you on the rate I think you’re on the money.
I’d have to look at the programs to figure out what they’re doing to get there exactly, I was just going off what you showed us.
Great thanks! Last question for ya… what do you mean 120 BPS? I’m still relatively new to all this and trying to absorb as much as I can so I know what I’m talking about when I go to the dealer.
The typical difference between 10 & 12k per year is 1% of the RV ( you’d need to verify it’s 1% ) which is 461.95 of the difference along with $499 = 960.95 / 36 = 26.70 monthly plus interest.
We haven’t seen a dealer not be “allowed” to mark up a mf for profit…it’s highly common. Are you sure they quoted TFS? And not Ally / US Bank? As @IAC said, find a dealer who isn’t marking up the mf and no hard adds like tint and you should be good to go. It may be better to go with, if I put a $1000 das with another $500 incentive can you get to $565 monthly.
You know, I didn’t even think of the fact that they may be using a different bank.
I’d have figured that out when doing a program scan to figure out where they’re bumping the payment. I guess it depends on who’s giving finance the biggest kickback on the back end.
Well, for one thing, they are showing $2k DAS while your calc is $2900. They also have 499 tint that I don’t see in your calc. And you have the wrong doc fee. When I adjust to fix these things, I get $2k DAS and $628/mo for 36/12. A .0032 MF with same RV gets to their payment.
because unless somethings changed since I last checked, autonation can markup rate.