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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
MSRP $97,585
NEGOTIATED PRICE $86,939
LEASE TERM 36 MONTHS
MILES PER YEAR 10,000
MONEY FACTOR 0.00210
RESIDUAL 56%
PPM $1,125
FIRST MONTHS PAYMENT $1,334.77
REGISTRATION FEE $329.50
DOC FEE $249
ACUISITION FEE $795
TAX ON UPFRONT ITEMS $73.08
TOTAL = $2,781.35
I know the dealer is marking up the doc fee. but i think the discount is good.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Now I've been on this board, as well as a few others as I am looking to turn in my 2011 VolvoXC90 for the next family truckster. With the help of this board I was close to pulling the trigger on a GL450 in Feb/Mar but decided to wait a bit - in reality the wife couldn't decide and its really her car for hauling around the kids and daily errands around town so she needs to be happy.
Recently looked at the new XC90 and was very impressed, however Volvo not willing to deal off of MSRP at all, and the end of the day the monthly nut was just way too much for a $65k Volvo (IMHO). Today we looked at the BMW X5 and frankly was a bit underwhelmed. Maybe my expectations were too high but just not what I was hoping for - actually liked the Volvo much better. Which brought us back to the MB. Went back to my guy at MB and he has several 2015 GL350 BluTEC (Diesels) and a couple of 2016 GL450s. I'm thinking we can get a better deal on the 350s as he has 3 2015 GL350s on the lot, all identical colors/options/etc.
Here is the vehicle:
- GL:350BTC
- Premium 1 pkge
- 19" twin 5-spoke wheel
- heated steering wheel
- trailer hitch
- anthracite poplar wood trim
- harmon/kardon LOGIC7 surround system
- Power easy entry
- illuminated running boards
- pre-wire for RSE
- lane tracking pkge
- park assit with PARKTRONIC
MB tells me that residual for this vehicle is 58% and MF is 3.9% (equivalent to 0.00162)
Here is the initial offer for 36 month lease 15k miles, w/zero down per his worksheet:
- Sticker $74,175
- selling price $67,000
- add prepaid mtc $1,625
- minus net trade in allowance of $2500 (they will give me 14.5k for my XC90 for which I owe about 12k, maybe less I need to confirm)
- advanced payments $1030.85
- upfront charges $1920.11(not sure how these are calculated)
- Due on Delivery $ 450.96
Base monthly payment: $980.68
monthly tax (CT): $50.17
Monthly payment: $1,030.85
When I run my calculations I get a much different number, plus I should be entitled to $2000 through USAA disc which he has acknowledged but I don't see it in his worksheet. My numbers look like this:
Sticker Price of the car + options $74,175.00 MSRP
Times the residual value percentage 58% Residual %
Equals the residual value $43,021.50
Purchase Price $67,000.00
Depreciation over 36 months $23,978.50
Equals the monthly depreciation payment $666.07
Net capitalized cost $67,000.00
Plus the residual $43,021.50
Equals $110,021.50
Times the money factor 0.00162
Money factor (interest) payment portion $178.23
Monthly depreciation payment $666.07
Plus money factor payment portion $178.23
Equals bottom-line monthly lease payment $844.30
CT state sales tax 6% $50.66
Monthly payment incl tax $894.96
Where is the disconnect with my numbers? What am I missing?
Thx in advance!
Ask them what the net cap cost is, and what's included in that number over and above the selling price.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Dealer fee $ 499
Registration $ 188
Sales tax $138.11
Are any of these fees negotiable?
Secondly, the net equity on my trade in allowance is $3,549.85 (originally calculated as $2500) so that is being applied to purchase price, plus wiping out $450 previously due on delivery, and adding 667.58 as total cap reduction so now zero due on delivery.
New numbers from dealer worksheet are as follows:
Sale price $65,500.00
prepaid mtc 3yr/30k +$1,625.00
Net Cap cost $67,125.00 (this is what he is telling me is Net Cap Cost)
trade in allowance $14,500.00
trade in payoff ($10,950.15)
Net Trade allowance $3,549.85
Advanced payments $962.16
Upfront charges $1,920.11 (loan/dealer/reg/tax)
Capcost reduction $667.58
He comes up with a monthly payment of $914.83 plus tax of $47.33 for an 'all in' monthly pymt of $962.16
My numbers using residual of 58% and MF of 0.00162 come out under $900/mo incl tax.
Couple of questions:
- is what he is offering now a fair deal?
- why are my numbers so much different?
I cannot recreate his math and wondering if the upfront charges being added to the net cap cost even though he tells me the Net Cap Cost is 67125. Any insight would be appreciated.
Thx
I think the net cap cost is different than what they're telling you, given the difference in payment. I don't see an MSRP, either.
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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
MSRP $ 74,175
Sale Price $ 65,500
Prepaid mtc $ 1,625
1st mo pymt $ 926.16
Upfront chrgs $1,920.11
(loan/dealer/reg/tax)
Cap cost reduc ($ 667.58)
(balance of our net trade allowance)
Adding all of those lines items brings Net Cap Cost to $69,339.69 and then my numbers reconcile with his putting the monthly base payment at $913.09.
Now that I understand his calculations does this look a reasonable lease deal?
Thx
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Can I get clarity on the GL350 vs GL450 Lease % and MF
I'm shooting for a GL350, 7.5k miles, 36M
.00113 (2.712%) and 62%
One dealer says the GL450 lease promo can be applied to the GL350 with those numbers, other says it can't. Thus far I've also only got a 5% discount off MSRP of 74895.
Does MBFS have lowered MF with multiple security deposits?
Thanks!
The GL350 uses the standard MF, which is quite a bit higher.
Your residual is correct, though... and, yes.. MB offers MSDs.
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Thx
The beauty of the MSD program is that you get that money back at the end of the lease.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
August can be a good time for leases, as you'll probably get the best discount from sticker on the outgoing model year inventory.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Seems to be rare they have a special MF for the 550, but do you guys recall that at any time last year?
Also, as they close out the 2015s, do the model years have the same residual, or do they diverge at some point?
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2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h)
Review your vehicle
2016 GL550 - standard MF (.00180-.00220) and 57%
I don't remember last months numbers, much less anything from last year
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
2016: .00137 MF and 68% residual
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- 2015 GL550 - standard MF (.00180-.00220) and 56%
Could you tell me what 7,500 miles / 36 months would be (I believe that is the lowest miles)?
Also, is there a sweet spot on the term - 33, 36 or 39 months?
Finally (sorry for all the questions) - how do you get the lower end of the range for the MF at .00180?
36 months is the sweet spot
We don't know the exact MF, which is why we quote a range. Don't know how the dealer determines what specific MF to use, but we've seen .0210 and .0220 in prior posts.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
2016: .00137 MF and 68% residual
Is this information correct?
I thought the RV for 2016 GL450 for 10k / 36m is 61%
36/10 residuals:
2015 - 60%
2016 - 61%
The other residuals are for 24 months, 10,000 miles
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
MSRP $96,275
Selling price: $85,955
36 month/10k/ tax / PPM in payment.
$1323 – monthly
Money factor: .00210 – with auto pay
Residual: 56%
Due:
First month , 795 bank fee and DMV fee. ($2405.00)
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Selling Price $85955 + PPM 1125= $87080.00
Payment=$1217.37 + Tax $105.00 =1322.37
Others have been able to get the $1125 added to the MSRP for residual purposes, as well. Something you might ask your dealer. That would knock $16/mo.+tax off the payment.
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Can you help me with the MF, Residual Value for a 2015 GL 450 for 36 mths and 12k/15k for August/September? Looking at a GL450 4MATIC with Driver Assistance Pkg. MSRP on the site is $82k.
Thanks forthe help!!
No September numbers available yet; current MB numbers are set to expire on 8/31/15
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Dealer sent me the below initial proposal numbers for a GL 450.
The MF on the GL450 is 0.00163.
MSRP $82545
*FLETCHER JONES SAVINGS $3545
*SALE PRICE $79000
*ACQUISITION FEE $1095
*ESTIMATED MILEAGE (YEARLY-)-12k
ESTABLISHED VALUE $80,095
*RESIDUAL VALUE $48.701 ($47,050 for 15k)
*MONTHLY PAYMENT:36 Months
*FIX RENT $1081.98
*SALES TAX $87.64
*TOTAL MONTHLY PYMT.$1169.72 ($1216 for 15k)
*FIRST MONTH RENTAL
*UPFRONT TAX DUE $40.10
*TITLE FEE $29.25
*DOC FEE $495
CUSTOMER DRIVE-OFF $1733.97
So looks like he has inflated quite a few things. Based on the above, what would be a decent deal (my counter)?
Thanks!
And, I should think you can get more off the sticker price.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
I can use your base amounts to get to a monthly number. Would like to keep the payment below $1000 w/ tax. Can you share your calculation or the Edmunds calculator is good enough? Thanks!
http://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html
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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
My dealer is offering invoice less EAB for 36mo/12K year. The EAB was just updated this week for MY16 and is $2K so I'm looking at a final price after the EAB discount of about 68,500.
Dealer is quoting 60% residual (although calculating on MB specials site it appears to be 61%) and .00187 so I think they may have marked up both.
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@kyfdx - I think you are right that it was a 10K per year lease so that makes sense.