Did you back into those numbers are did they give you that selling price?
What mf are they charging? I don’t think I have ever seen an LR dealer give buy rate.
i have a chase private client discount code which can go up to 10% of the msrp , which he gave me at 9.8 of the msrp 63525 at 57229.55 ,
So what you’re saying is you backed into those numbers instead of them being the actual sales price they stated?
he mention the going rate from his computer .my calculation on LC was mf .00063 but he never showed me when i ask
Gotcha, so you don’t know what mf he’s charging. I’d be willing to bet it’s been marked up, which is more than likely where the current discrepancy in cost is coming from.
yes , and in Nj they are not giving no discount of the msrp since their is shortness of inventory
They’re clearly giving you a discount. Are you saying they’re not giving you a discount beyond the Chase program?
From your calc it looks like the dealer offer was buy rate, with a discount in the %7 range. That’s a pretty decent deal on a Velar in April 2021. It doesn’t really make sense to get too fixated on either SP or MF, but rather to get to outputs you are happy with.
The Chase PIN is nice, but it’s totally at dealer discretion.
Again, I’d confirm 39 months is the best term and then drive home that SICK black on black Velar.
#VelarMania2021
It’s either buy rate at 7% or the 9.8% they said they were giving with a marked up mf. I’m guessing the latter, since LR dealers pretty much always mark up the mf and they appear to have specified a discount amount.
1 Like
exactly , i know things cost money and i am not trying to rip anyone off but it just doesn’t add up and when ask to explain he got flustered and not detail everything , which if he did i probably would not be sharing this experience and figure out what i had in front of me , thanks you
his exact words “if you use chase private client code your not eligible for any other discount “
You have to keep in mind that you went in with an inaccurate understanding of how leases are calculated, with non-sensical numbers, and told him his were wrong. My guess is the two of you started arguing past each other and no one was listening to the other.
Also keep in mind that there are not many people in car sales ( or anywhere) that actually know how to calculate a lease by hand; they have a tool they have to use and rely on it, so when someone comes in saying “your tool is wrong”, they get defensive.
4 Likes
That’s because chase private client is the discount. You’ll never find an LR dealer that will discount beyond that private client. It isn’t like a normal incentive where things can be stacked on top of it.
1 Like
Luis! Where are you trying to get to here? You have a solid deal already on a desirable car.
If you want a great deal get a Bolt or whatever a Leaf is. If you want a sleek and sexy stunna, let’s go man!
Let’s get your counter-offer together, and then you can call Alan B. (a great guy) the sales manager and close this deal.
Did the dealer send you a deal sheet? Post that or PM me.
Don’t die on money factor hill, please: Leasehackr Meme Lounge - #1721 by Bluemkn57cars
1 Like
Does JLR have a max markup for their MF? You can get pretty close to the payment with a ~0.0004 MF markup based on his initial 9.8% pre-incentive discount
I’ve seen JLR mark ups of at least .001
1 Like
IIRC and unless it hasn’t changed, 2 pts as long as it stays within advance.
1 Like
It seems like anyone can generate a chase pin with a regular chase account. Do they ask for specific proof that you are chase private client?
If you change the money factor to .00103 (.0004 markup from the .00063 buy rate), you get within a dollar on the lease price and about $10-20 on the DAS. So my guess is that since the told you about the 9.8%, they marked up the MF (that they wouldn’t disclose) to .00103. Just a guess on what is driving this difference (without the markup it would be $616)
2 Likes
This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.