Hi everyone, new to LH (been reading for several weeks) and am currently negotiating my first lease on a 2018 XC60 AWD T5. Test drove on Saturday and asked for a lease quote and the salesman gave me an outrageous quote - mainly due to a MF of 0.00148. Thanks to reading here I knew this was high, but he told me that was the number provided by Volvo. They completely refused to negotiate at all with me (told me nothing at their dealership was in my ~$500/mo base budget) and so I left. After calling another dealership for a quote, I was given the correct MF. So I then called back the original dealership and told them I knew what the MF really was, so I had correctly recalculated the payment in excel and would be sending them the details as an offer, and by the way I took more off the sales price. They were not happy they got called out but agreed to my terms.
The MSRP of the car is $48,340, current negotiated sales price is $41,000, RF is 54%, 7500mi (I live 3 miles from my office so this is plenty), MF 0.00048
The car is the loaner and has 4600 miles on it. The salesperson is adamant that the value of the miles over 300 gets added to the cap cost so he is adding 4300*.2 = 860. Does anyone understand why it’s my responsibility to pay for the miles someone else used? This doesn’t seem right. But these people have been a nightmare to deal with thus far (I won’t even get into the fact that the manager refused to acknowledge he knew what MSDs were and how they worked - I had to explain them to him and how to calculate a payment with them).
I’m going to pick up the car tomorrow for an overnight test drive and plan to go back over the numbers then. Any insight here would be appreciated!