So I contacted my local dealership and I asked for a quote. After being on the phone for almost two hours, this is the quote that the guy gave me. I believe he said that the one time lease payment was $5,043.60. Any tips on how I should lower it and how to talk to the guy?
I do want only 10k mile/year, so that removes about $400 from the payment.
Which rebates do you qualify for?
I Belive There is the Asian conquest, along with a few other small ones that I don’t know the name of. I Know that the total of my rebates is in the mid 4000s but I’m not sure of the name. I know that I don’t qualify for the Farm Bureau rebate though.
The Sale Price Of The Car Is In The $17,000 - $18,000 range
It would help if you were more precise. It’s hard for anyone to opine on such vague info.
The Rebate total comes to $4,750
The nearly $1000 doc fee is criminal.
What Should I ask the Doc fee to be? This is my first time leasing
The doc fee will never change or disappear as a line item. You must negotiate the selling price (and eliminate any MF markups) to lower your total cost. Preferably do that with another dealer with a lower doc fee.
Are you in Florida?
If you don’t tell us which rebates you qualify for and which ones are applied towards the $4750 that they have listed, we can’t help you.
Yeah, I’m in Florida.
I’ll get that info right now
This is a pretty good article on doc fees. http://www.realcartips.com/newcars/482-documentation-fees-by-state.shtml
Basically, they are charging you for someone to type up and submit the documentation for the deal to the various agencies. It costs them the cost of the employee’s time, but they usually use it to pad profit and pay for overhead. Most states don’t limit the doc fees, so they will try to get away with charging whatever they can. They’ll tell you it’s non-negotiable, but it is. Either tell them to drop it significantly, or have them discount the vehicle more. Personally, I wouldn’t pay more than $200 for a doc fee, and I think that’s generous.
The worksheet shows a sale price of $22,000.
If you are in the north of FL, consider buying from a GA dealer. And/or shop around for the lowest sum of sale price + doc fee.
That will never happen (it would be discriminatory) so act knowledgeable about it from the beginning and negotiate the sales price to effectively lower your total cost. And/or find other dealers who have a total cost that is lower.
I’m All the way in south Florida. Are there any dealers in south Florida that are good to work with?
Not that I know of (or have seen on this forum). You will have to do the legwork. Do it all by email.
What should be the target one time payment that I try to get them to?
Looks like your money factor is marked up as well. The base rate I believe is 0.00092 (not sure if the same in Florida) so with a one pay it should drop to 0.00019. Agree that the doc fee is absurd as well.
Additionally I’m getting a one pay lease with all your numbers of $4163 unless you’re taxes are higher than 7%. If you use the correct money factor it’d be $3896.
Work on negotiating the doc fee down along with the sale price. Look for a bonus tagged Malibu as well as it looks like the rebates you’re getting are just the Asian conquest and the standard lease cash.
Is there somewhere that I can see the MF? The dealer tell me that from chevy the MF is only 0.00050