Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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2016 SH-AWD Tech package
MSRP $50,210
Invoice $47,017
Final Price $45,017
No money down
Due at signings: Tax ($1,254), doc ($75) 1st payment, etc. = total $2,468
$472/month
10k/3 yrs
Need advice deciding on:
$440 - remote start
$636 - prepaid maintenance for 3 yr/30k
$552 - tire and rim protection
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Prepaid maintenance: Seems like a reasonable price, but I'd want to know exactly what's covered. In my experience, Honda products don't require a lot.
Tire and rim? In the last 20 years, I've never had an incident that would result in a claim, so I vote no.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
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Cap Cost: 47677.00
Lease:
36mo
12k mile
Mo payment:
585.00
Downpayment of 2367.30 (8% tax, 585 first month and 97.50 start up lease fee)
I didn't think the mo payment would be nearly this high. I was expecting around 500 range. Any advice? He didn't give me residual or money factors. Anyone know what the monthly payment would be with december's numbers for 36mo / 12k mile lease?
Thanks!
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My apologies.
I get $561.mo. That's about $800 less than your quote.
But, you'll be nowhere close to $500/mo., either way
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AWPlus - .00044
58% residual for both trims.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
2016 MDX TECH 2WD
MSRP: $48230
Your price: $45640
Accessories: $755
Residual: $27973.40 (36 mo. @ 12k miles per year)
Fees and first payment due at signing $1930 (only $1000 from you)
35 more payments of $574 plus tax = $622
2016 MDX TECH AWD
MSRP: $50230
Your price: $4667
Accessories: $755
Residual: $29121.40
Fees and first payment due at signing $1984 (only $1000 from you)
35 more payments of $596 plus tax = $646
The money factors are the same on both examples, because they are both Tech models. It's only the AcuraWatch or Advance models that get the .00044 MF.
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We don't track pricing ... read back through the last few pages of this discussion to see what others have been able to negotiate.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
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I agreed to what I feel is a bad deal based on reading here and already gave them the first month payment, I'm guessing as a deposit. I need to come back fo car and sign other paperwork later this week.
I live in NJ:
2016 AWD with tech and entertainment package.
Msrp: $52,326
Selling price: $49200 (I'm seeing folks with sell prices of $2000 under invoice which would put me at $47,200) this is also a very busy Acura dealer
36 months with 12k. I'd like 15k. But they are telling me I only have to pay half the miles I go over...don't know if this is weird or not
I don't have residual from them but I am going to ask once I get a response on here and have all my info.
The rep also told me that there is no interest and it doesn't matter what I put down as that won't affect the monthly price in respect to being cheaper over the 36 months. Might as well put $ in the bank and pay from there. After reading a bit this seems like bologna too.
When I call I'll ask for the $ factor, I have an 800 credit score, would my factor still be .0006 and residual 58%?
Their offer with no money down (other than the 1st months payment) all costs built into lease (tax is at 7%) is $668 per month.
If I run the numbers through the lease calc assuming .0006 and 58% residual, (don't know if I should factor in the first month payment of 668 into down payment field (so I didn't) and didn't account for other dealer costs but seems as though some folks on here are just having to pay for reg fees of $75 or leaving out other dealer costs. So I added a $100 to the cap cost.
$574.21 plus $40.19tax = $614.40. If I get them to drop another $2k off sales price I'm at $517.45 plus $36.22, total $553.67!
Last Q, how do I calculate purchase price at end of lease?
I want to go back and get this all sorted out and a better price, but want to be intelligent this time when I do. Thanks for the help!
The first month's payment is typical for leases, as are other up front costs (acquisition fee, dealer fee, license costs).
We do not recommend making any sort of down payment on a lease - keep the money in the bank..
Using your prices, I get $571/mo + tax, so pretty close to your calculations. Ask the dealer what the net cap cost is - if different than your agreed upon selling price, ask them to explain the difference. They might be rolling in some extra fees on you.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Are MFs negotiable below the .0006 when you have rock solid credit, and can they mess with your end of lease purchase price or is that something that is what it is based on some formula?
The MF is the base rate; can't go any lower than that.
The residual value is set by the bank and cannot be altered. If you choose to return the car at the end of the lease, there is a disposition fee you'll have to pay. If you buy it out, the residual value is what you should pay.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
The risk is that if the car is stolen or totaled during the lease, any money you put down will be lost.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
That said, I get your point on car being totaled or stolen.
But, the total cost of the lease doesn't change - just the calculus of how the cost is structured.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Plus, money upfront really obscures the true price of leasing the vehicle. Unless you are trying to convince your wife that a new Porsche is not that expensive to lease, then keep the downpayments in your pocket.
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MSRP 52210
RV -59% - $30803.9
MF -.00060
VA Tax - 4.1% (Taxes taken upfront)
Tag/title/Processing ($450)
Acq - $595
Selling price of the vechile - $47000
I am getting monthly payment (532.5 +48.5) = $581, but the dealer is calc around $615.
I have a 7% sales tax here in nj, and over $40k on a car they have andditonal tax of .44%. Ridiculous. Anyhow. $595 acq like you, $495 doc fee.
Tags title reg of $304.50, then that additional nj sales tax, that tire tax, all totaled $530 I believe.
*Then a wash and prep of $95, a window etching at $195, and I think another $10 of another fee and something else which totaled $310. This stuff right here was all hidden from me. I kept running the numbers and telling them that I'm getting $613 a month not $624. Then they said that this $310 wasn't in the numbers I was using from their sheet. Weird thing is I still don't believe them. Rep went to his manager and wanted me to stay put. They whispered, and then rep says "yep, these numbers weren't in the numbers on the printout, and that is why it is $11 less a month with your calculation."
What I come to think of it now, the destination charge of $995 (so he mentioned when I was negotiating sale price) wasn't in the numbers they showed either. Does that mean these type of numbers are just part of "their" cost??
What I'm getting at is, do you think the window etching is mandatory on leases and shouldn't be part of my cost which they say is creating this $11 difference?? If moderator could answer this that'd be great.
Btw-all these fees were non negotiable. At this point they didn't seem pleased that I had so many questions and haggled them down from $688 a month, to $668 before I knew anything, then I learned on here, and got them to $624 a month.
So $624 nothing due at signing. Oh and I had them throw in weather floor mats the other day before we got this $624 price.....but.....it was after he gave me the $668 number.
Wonder if the weather mats are the real number they are hiding in this new deal as an accessory which is creating this $11 per month difference. I think they only list at $160 so guessing this can't be the only cost. What are your guys thoughts? When I go in to sign all docs and pick up car tomorrow, I can try and get down to the bottom of this a bit better with the finance person versus the deal maker guy I worked with today. It's only a few hundred bucks, but it's the principle.
Bellu, hope this helps to get an idea if you are getting a good deal or not.
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When all the crap starts adding up to something ridiculous ($310 + $495 doc fee, etc.), that's when it's time to say, "I didn't realize you were going to add $800 of garbage fees to the price, I now lower my offer by $1000".
So, it doesn't really matter what they say isn't negotiable. You get to decide what you are willing to pay.
And, I realize that's easier said than done.
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- how much rebates are they getting vs the $1k they are giving me
- if the invoice that is public knowledge includes a destination charge
- is the said $995 dest charge really their charge
- Is it true that they get no $$ from the base money factor
- are there $$ they are considering they will get when you return the lease at end of my 36
Without knowing the above, they can sit there and tell me with fees and such added in as my deal states. At $624 a month they are only making $1k or less than that on the car bc they are selling it to me for invoice.
I also have to gauge how much do they want to sell the car when they know that they can sell it for more to another person. Or in their world, for this type of car, they don't worry about that bc getting cars for them is almost infinite vs say when the new stingray corvette came out, and I had no leverage bc dealers got only a few of them.
Essentially, I'm saying, yes, I get to say what I'm willing to pay, but I can't say what I'm willing to pay for a car without knowing what is realistic. I've read that a true bank fee/acq fee is really non-neg. I haven't heard if doc fees are. And then per my questions above, do they need these fees to make money when you get car for invoice.
Thanks.
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2025 Camry SE AWD