Hi guys,
Is 0.00184 MF consider high for a lease?
And if not what is a good MF?
Thank you in advance.
If that is captive’s incentivized rate, it may be high, but it’s MB, so…
Its difficult to answer that question in a vacuum. For a “great” lease deal you need some combination of a low money factor, high manufacturer incentives and a healthy dealer discount. What you want to avoid is a money factor that is marked up above base, especially if it is not paired with a very strong dealer discount. What make/model/trim is this in reference to?
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This is the deal
Mf as stated above with residual of 59%
At this point I don’t even know what is a good deal anymore.
I don’t know your zip code but Edmunds is reporting a money factor of 00084 for the A220. The trade in also really clouds the picture here. That discount seems strong for a car that doesn’t seem to have incentives, but it is a loaner with a lot of miles on it too.
Stop any and all conversations with dealers until you know how to answer this question for the vehicle you’re interested. If you ever find yourself with a dealer offer in hand, asking “is this a good deal?”, you’ve gotten way out over your skis and need to step back.
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Okay, I’m sorry I’m just trying to understand these numbers.
You’ve been very helpful.
Thank you.
No need to apologise, just a reminder than you (like many others do) are putting the cart before the horse.
They key to consistently getting good lease deals is to be as educated about the deal as possible. That means building a solid foundation of how a lease works, what all the components are, and then optimizing. Fortunately, there’s a great leasing101 section at the top of the page for helping you learn.
While you’re reading up on everything also get some quotes for your trade from carvana, vroom… Usually easier to keep your trade out of the new car deal but at the very least you’ll be educated with info on what your trade is really worth.
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I’m trying to find where it states the money factor on the website. Cant find it anywhere.
Any suggestions?
Post a request for the numbers here using the specific make, model, trim, mileage, duration and your zip code.
Autonation. with 4k miles.
Is that a demo or a Used Car
This is a Loaner
At least it’s better than your A220 deal you were looking at.
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I don’t understand what am I doing wrong with the calculator, I keep getting wrong numbers.
Also seems like they mark up the MF because in my area it’s suppose to be 0.0008
Is this negotiable?
Yes. Ask the dealer what MF they’re using.
When I first came, they said 0.00084
But when I ran the numbers and confronted them it was 0.00184 and all of a sudden they had no recall of them saying it was 0.00084. And also said the 0.00084 is only fo finance not for lease. I’m pretty sure it’s bs but I am not sure what to do now.
Either way the numbers they give me don’t make any sense on the calculator, the calculator give me a higher monthly payment than what they did. Not sure what I’m doing wrong.
You’re missing the acquisition fee to start with. It’s an MB dealer, so it’s likely the standard acquisition fee mark up of $1095.
Beyond that, we can’t help without knowing what their offer was.
Also, .00084 for a purchase doesn’t make any sense… Purchases don’t use MF, so you would never have a MF for a purchase.
Especially with the $1,700 adjustment for damages.
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Purchase? What do you mean?