There seems to be a disconnect between the dealer and myself. I’m trying to populate the calculator and don’t get close to their numbers. Using the below deal sheet …. What goes where ?
Thanks
2 Likes
Thank you for the link to the instructions.
I guess I should have more clear in my question.
There’s $21,500 incentives broken brown by $7500 for EV lease and $13,500 + $500 as the Amex fleet.
The quote shows sales price of $82485 but I know that not what I put down on the selling price line since the incentives need to go in the lower section. So do I add back in the $17,390.01 to the $82485 and put $99,875 as the sales price and then put $17,390.01 on the taxed incentive and the remaining $4109 on the untaxed line ?
It appears to me that the selling price in the calculator should be
82,485 + 21,500 = 103,985
And then 21,500 goes into taxed incentives
Yeah, there is a disconnect alright. A lot of info is missing… Money factor, residual, term, payment… just to name a few.
Bas on the dealer WS, here is ehat I now…
Sell price 82485.00
Capped fees 0.00
Gross cap 82485.00
CCR 17390.01
Adj. Cap 65094.99
Lease Inception Fees
Listed Fees 1667.00
1st payment 449.39 ???
Taxes 1993.60
TOTAL 4109.99
Rebate Credit 4109.99
DAS 0.00
Going out on a limb guessing your monthly payment is 449.39. That seems very low to me.
Bottom line: The dealer WS is pure garbage and tells me very little.
Nope. Of the 21,500, 17,390.01 is allocated to a cap reduction. The balance of 4,109.99 covers inception fees.
It’s a 24/10 1 pay lease.
Dealer claiming it’s $28,358
There is no way one would know that by looking as the WS. What’s also interesting is that the different between the MSRP and sell price is 342500 leading some to believe that the dealer discount is 34500 suggesting that the 21500 rebate is part of that discount. However, that would contradict the rebate allocation at the bottom of the WS.
I suggest that you don’t waste time trying to decipher a dealer’s worksheet or chasing after them. Otherwise, you’re allowing them to control the deal. They often omit a lot of relevant detail such as money factor, monthly base payment, monthly contractual payment, fees not itemized and even make mistakes. You need to rely on credible outside sources (e.g., LH marketplace and signed deals, Edmunds, etc.). Do your own research and establish a reasonable selling price in your market. Be sure to get a copy of the factory window sticker. Check for non-factory add-ons or dealer-installed options. And, if possible, eliminate those you don’t need or want. Get a list of all customer and dealer rebates/incentives including VIN#-specific discounts/incentives, if any. And, yes, the dealer has such a list.
Recommend that you craft a lease proposal and email it to the sales manager (SM), not a floor salesperson as they’re often order takers and lack knowledge. All numbers should be accurate otherwise, you’ll lose credibility. Negotiate via phone/email. Once an agreement is reached, ask the dealer for a review copy of the lease agreement and all contract addenda BEFORE you go to the dealer and sign. Moreover, it’s helpful to know the terms and conditions of the lease contract such as early termination liability criteria and purchase option criteria as well as lease amortization methodology and excess wear/tear criteria. If all is as agreed, tell the SM that you’ll come in to sign right away. You don’t want any surprises or dealer excuses like …. Oh, we made a mistake. That’s unacceptable and shouldn’t be tolerated.
If the dealer isn’t transparent or is uncooperative or showing signs of incompetence, WALK AWAY AND MOVE ON!
Leasing is time-consuming and requires a good deal of study and attention to detail. If you don’t have the time to commit, perhaps your best alternative is a good broker. There are some outstanding brokers on this website. However, if you’re willing to commit your time and resources, always control the deal. That can only be achieved with education which breeds confidence and increases the likelihood of success.
Finally got the dealer to respond. …
MF is inflated to .00249 for 1 pay when the buy rate would by .00169
Sale price $103,985 after dealer discount from $116,985.
Car has approx 3650 miles as loaner.
I just feel bad for those that don’t take the time to research and educate like I’m trying to.
I would stay away from this dealer in North Olmstead Ohio.
That’s good but it’s not a good use of your time & efforts to decipher a dealer quote.
Post a LH calculator link showing your target deal.
Aren’t some of the incentives direct to dealer and therefore untaxed?
And the first NY Marketplace thread I checked has 22% off a new EQS SUV
I’m in Ohio, and looking for sedan not SUV
Sedans are cheaper if anything
Pretty sure I saw a loaner closer to 30% off
Multiple listings of brand new EQ* at 17% off
Point being, your target for a loaner sedan is extremely generous. To the dealer.
Should’ve kept it as a spoiler (with a dramatic reveal)
Thanks for reminding me of the market place link. I was keeping my search only in Midwest to be local. As soon as I went to Northeast, I found the ones you were mentioning and closed a deal in under 24 hrs for almost $12k less than my local dealer for basically the same build and new instead of loaner.
3 Likes