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- 2006 BMW 330Ci Coupe
@admsports said: Thanks. A couple of questions; - Are they getting any additional lease conquest cash? - Are there any incentives for them if they buy the car vs. just making remaining payments and turning it in for me? Does that help my tax situation on the new car at all? - Is there any change to the numbers you gave if I add the "tech package"? - Lastly, any change to the numbers for the grand touring? Same awd, 36 mos, 12k mo, no packages on that one?
Thanks again for all of your help, you guys are great.
The Grand Touring residual is 1% lower. Packages make no difference to the lease numbers. You can research other incentives via the Car Research tab at the top of the page.
If the trade-in is worth the payoff amount for the lease, then taking it in trade is a wash. A dealer really can't just make your remaining payments and turn the car in, unless it's within a month of the end of lease, or there is a special program involved. If they could make the payments, then that would be money out of their pocket (which ultimately means out of your pocket). I doubt there is any tax advantage to trading in a leased car, but that might vary by state.
@kmurali70 said: What would be a price to pay for a 2015 rx350 for the base model of $40,795. this based in DFW. If the invoice price is 38k, how much should I ask for the car, does 1k sound enough commission for the salesman ?
On any good deal for the customer, the salesperson is going to make a "mini". That's the minimum the dealership pays on any new car sale... (usually $100-$250, depending on the dealer).
But, the important thing? You want to pay the least amount possible. What the salesperson makes should not even be on your radar. A professional salesperson would never bring up that subject, either. You have to focus on your business, and let them focus on their's.
@firstporsche1 said: A more general question: which would you say is more critical, negotiated price or residual value? If it's the former, it would make sense to lease at the end of the year to get the best price (with dealers trying to clear inventory); but if it's the latter, than you'd want to lease at the beginning of the MY to get the best residual. Obviously either one will impact your monthly fee -- and potentially cancel each other out. But if leasing is really just a creative form of financing, then the most important factor would be negotiated price, right? (Sorry -- it's mid-July, so I am weighing my options.)
On a lease, it's just a math equation... You want the smallest difference between selling price and residual... along with a low money factor.. because, in the end, it's all about the total cost to lease over the term.
In my experience, the best leases have been in the Fall, after the new models are out and the manufacturer is stuck with excessive prior year inventory on the ground.. Large cash incentives and/or unrealistically high residuals make for some cheap lease payments. Of course, you have to be flexible on which car you want..
Of course, none of this may apply to Porsche, for the reasons I noted earlier. One danger in waiting? Sometimes, they will stop leasing the prior year model, and just put a big cash incentive on it. Which is great for a purchaser, but a potential lessee can be left out in the cold.
As far as being a creative form of financing? In that case, you only need worry about the money factor... as that is the finance rate.
Lease wear and tear insurance is a big money maker for dealers... it's right up there with tire/wheel insurance. You were smart to pass on it.
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