I have asked this question in the past but I don’t think I was clear enough in my wording. Hoping someone can clarify this for me.
I received a specialized price quote for a 2018 Traverse and brought this with me to the dealer. When they looked at it they told me the price was for a purchase and not for lease. Nowhere on the quote did it specify purchase only. The quote simply stated “Subtotal before Dealer Fees & Accessories” along with the price. The cash and incentives were NOT specific to Financing.
My question is: Excluding the various cash and incentives that can be specific to leasing or financing, can there every be two different selling prices (lease or finance)? Seems to me that I had a great price quote and the dealer was just trying to up the ante.
Any comments?
Well... that's just it.. No one quotes a price without including all of the relevant incentives. If they leave incentives out, then the next dealer quotes with incentives, and it looks like their price is too high.
And, if the price is higher for a lease, they aren't going to quote that price, unless you specify you are leasing.
If you are trying to get a dealer to honor a Costco, AMEX or TrueCar purchase quote (or any other third party) for a lease, it's not likely to happen. The incentives just aren't the same.
The quote was from Consumer Reports/Truecar and was specifically quoted by that particular dealer for me (and time sensitive) so I don’t see why they wouldn’t honor this.
The quote was from Consumer Reports/Truecar and was specifically quoted by that particular dealer for me (and time sensitive) so I don’t see why they wouldn’t honor this.
Why issue it it in the first place?
Because most sites will provide purchase quotes, with the relevant purchase incentives.
Do those websites give you the option of generating lease price quotes?
The quote was from Consumer Reports/Truecar and was specifically quoted by that particular dealer for me (and time sensitive) so I don’t see why they wouldn’t honor this.
Why issue it it in the first place?
Because most sites will provide purchase quotes, with the relevant purchase incentives.
Do those websites give you the option of generating lease price quotes?
No. They do not give the option of generating a lease specific quote. Excluding all cash and incentives for argument purposes, and selling price is selling price right? Again excluding cash/incentives, there are no different selling prices for finance and leasing right? After all, for my lease I want to nail down the selling price first
The quote was from Consumer Reports/Truecar and was specifically quoted by that particular dealer for me (and time sensitive) so I don’t see why they wouldn’t honor this.
Why issue it it in the first place?
Because most sites will provide purchase quotes, with the relevant purchase incentives.
Do those websites give you the option of generating lease price quotes?
No. They do not give the option of generating a lease specific quote. Excluding all cash and incentives for argument purposes, and selling price is selling price right? Again excluding cash/incentives, there are no different selling prices for finance and leasing right? After all, for my lease I want to nail down the selling price first
There is no way to exclude factory-to-dealer incentives. Because those are reflected in the dealer discount. And, those incentives can vary, depending on lease or purchase.
Dealers pay TrueCar to generate sales leads. It's not a magic bullet to get the lowest or best price. The dealers are being honest with you, when they tell you the selling price can be different for sale vs. lease. (doesn't mean everything they say is true, but it could be). In the end, you don't have any leverage to make them "honor" the TrueCar price, even if you were purchasing.
Your number looks pretty close. Ask them for the adjusted CAP cost and money factor they used.
This is what he sent back after I asked him about it. Now the monthly price went down but it looks like he just added $901.72 as a down payment to make it look like the price went down. And it looks like he is using .00123 MF instead of .00073.
Your number looks pretty close. Ask them for the adjusted CAP cost and money factor they used.
This is what he sent back after I asked him about it. Now the monthly price went down but it looks like he just added $901.72 as a down payment to make it look like the price went down. And it looks like he is using .00123 MF instead of .00073.
Your first post mentions $1400 due at signing, as well. The money factor appears to be marked up. It's possible that on the first quote, they had marked it up by even more. The base money factor would drop the total payment by $35/mo. ($464 vs. $499)
Hello! I am looking for the Massachusetts money factor on a 2018 1LT and 3LT .... 39 Mos 12/15K
I was quoted $481.73 on a 1LT for 15k ... WITH $2500 Conquest Cash, another $750 Rebate and $700 Trade
Agreed Upon Value $37,775 Adding $650 Acq, $349 Doc, $135 T&R Residual Value of $20,574.00
Our sales tax is 6.25% added onto the monthly payment.
Assuming AWD, .00073 and 56% / 54% for both 1LT and 3LT
How much is due at signing?
What is the MSRP?
Yes. AWD, sorry, forgot to mention that. We were not given an MSRP. They barely wanted to give figures.
We gave them an authorization number we had obtained as we are a military family so we were given "GM military pricing" ?
He said that their supplier price was $37,775 and that was what they would give us.
Due at signing was just the first lease payment $481.73 - we had not decided if we wanted to do more than the trade allowance yet. Until we knew their starting point.
Hello! I am looking for the Massachusetts money factor on a 2018 1LT and 3LT .... 39 Mos 12/15K
I was quoted $481.73 on a 1LT for 15k ... WITH $2500 Conquest Cash, another $750 Rebate and $700 Trade
Agreed Upon Value $37,775 Adding $650 Acq, $349 Doc, $135 T&R Residual Value of $20,574.00
Our sales tax is 6.25% added onto the monthly payment.
Assuming AWD, .00073 and 56% / 54% for both 1LT and 3LT
How much is due at signing?
What is the MSRP?
Yes. AWD, sorry, forgot to mention that. We were not given an MSRP. They barely wanted to give figures.
We gave them an authorization number we had obtained as we are a military family so we were given "GM military pricing" ?
He said that their supplier price was $37,775 and that was what they would give us.
Due at signing was just the first lease payment $481.73 - we had not decided if we wanted to do more than the trade allowance yet. Until we knew their starting point.
If you don't know the MSRP, you have no idea what you are buying. Ever hear of a pig in a poke?
Hello! I am looking for the Massachusetts money factor on a 2018 1LT and 3LT .... 39 Mos 12/15K
I was quoted $481.73 on a 1LT for 15k ... WITH $2500 Conquest Cash, another $750 Rebate and $700 Trade
Agreed Upon Value $37,775 Adding $650 Acq, $349 Doc, $135 T&R Residual Value of $20,574.00
Our sales tax is 6.25% added onto the monthly payment.
Assuming AWD, .00073 and 56% / 54% for both 1LT and 3LT
How much is due at signing?
What is the MSRP?
Yes. AWD, sorry, forgot to mention that. We were not given an MSRP. They barely wanted to give figures.
We gave them an authorization number we had obtained as we are a military family so we were given "GM military pricing" ?
He said that their supplier price was $37,775 and that was what they would give us.
Due at signing was just the first lease payment $481.73 - we had not decided if we wanted to do more than the trade allowance yet. Until we knew their starting point.
If you don't know the MSRP, you have no idea what you are buying. Ever hear of a pig in a poke?
Thanks. I was there for two hours, with three of my four children. We did not pick a specific vehicle. We were just starting to work the numbers when their dealership was closing. Without a vehicle chosen, hard to get the specific MSRP.
I luckily also worked for Toyota Financial Services for 8 years doing lease and retail contracts and was a Contract Specialist for a third party company for two years prior to that.
I inquired about a specific special that they were running ($319/mo, 39 months, 1LT, $1995 down and of course all other fees extra - acq, dealer, title and reg, and also of course, $319 does not include the monthly sales tax) and instead of answering my questions, they asked me to come back into the dealership... typical, get me in, under the light and expect me to fold.
I appreciate the quick response on the current money factor and residual percentages. We may walk away from doing business with this dealership since they seem very secretive about their pricing and figures. The salesman was new and was not even aware of what an acq or dispo fee were, so I taught him something in the process.
Got a question on current 2018 Traverse rates. Looking at a 2018 Traverse 3LT AWD in central Oklahoma. Dealer is telling me the MF is .0024 and resid at .49 - these seem like awful numbers (like they're not interested in leasing). What are the going GM rates right now? Request was for a 36 mo. lease / 15k miles/yr 800+ credit.
Got a question on current 2018 Traverse rates. Looking at a 2018 Traverse 3LT AWD in central Oklahoma. Dealer is telling me the MF is .0024 and resid at .49 - these seem like awful numbers (like they're not interested in leasing). What are the going GM rates right now? Request was for a 36 mo. lease / 15k miles/yr 800+ credit.
For a Traverse Premier FWD, what is the residual and MF at 12k miles and 15k miles for : 24months, 27 months, and 36 months. Which term is the best for the model? Thanks so much!
For a Traverse Premier FWD, what is the residual and MF at 12k miles and 15k miles for : 24months, 27 months, and 36 months. Which term is the best for the model? Thanks so much!
24: .00099 MF and 62%/61% residual 27: .00099 MF and 60%/59% residual 36: .00073 MF and 54%/52% residual
Trying to get a handle on incentives for the Traverse (LT W Leather and AWD). This is a link for all the programs and it looks like I can get the $750 and the $2500 but I am trying to figure out what the restrictions are on the other discounts. If I can really get $7 or $8k off the price, I would consider the Traverse. I sent an email through the Chevy.com website but no one responded. Any help is greatly appreciated.
Comments
And, if the price is higher for a lease, they aren't going to quote that price, unless you specify you are leasing.
If you are trying to get a dealer to honor a Costco, AMEX or TrueCar purchase quote (or any other third party) for a lease, it's not likely to happen. The incentives just aren't the same.
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The quote was from Consumer Reports/Truecar and was specifically quoted by that particular dealer for me (and time sensitive) so I don’t see why they wouldn’t honor this.
Why issue it it in the first place?
Do those websites give you the option of generating lease price quotes?
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Thanks
24/10: .00099 MF and 63%/67% residual for Premier/LT
36/10: .00073 MF and 55%/60% residual
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Excluding all cash and incentives for argument purposes, and selling price is selling price right? Again excluding cash/incentives, there are no different selling prices for finance and leasing right? After all, for my lease I want to nail down the selling price first
Excluding all cash and incentives for argument purposes, and selling price is selling price right? Again excluding cash/incentives, there are no different selling prices for finance and leasing right? After all, for my lease I want to nail down the selling price first
There is no way to exclude factory-to-dealer incentives. Because those are reflected in the dealer discount. And, those incentives can vary, depending on lease or purchase.
Dealers pay TrueCar to generate sales leads. It's not a magic bullet to get the lowest or best price. The dealers are being honest with you, when they tell you the selling price can be different for sale vs. lease. (doesn't mean everything they say is true, but it could be). In the end, you don't have any leverage to make them "honor" the TrueCar price, even if you were purchasing.
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Thanks
36/12: .00073 MF and 54%/58% residual for Premier/other
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Either trim
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39 months
12k
msrp $48,475
net selling price $44,487
net cap $44,273
residual $24,722
acq fee: $650
sales tax 6%
they quoted me $658 month for 39 months
and I’m a 750 on transunion
any thoughts? I think that estimate is way high
With the supplied MSRP and net cap, I get $585/mo with tax included.
Confirm the adjusted cap cost they are using for their quote, and also the MF/APR.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Thank you!
.00073 MF and 54%/52% residual
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36 Months / 12K Miles
MSRP: $43,750
Discounts: -$2,203
Acquisition Fee: $650
Sales Price: $42,197
Taxed Incentives: -$3,250 (-$2,500 Conquest, -$750 Bonus)
Sales Tax: 8.25%
They quoted me $541.73 per month with about $1,400 due at signing for 1st month payment + tax, title, license.
I keep coming up with around $460/mo. Am I missing something?
Thanks
Your number looks pretty close. Ask them for the adjusted CAP cost and money factor they used.
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This is what he sent back after I asked him about it. Now the monthly price went down but it looks like he just added $901.72 as a down payment to make it look like the price went down. And it looks like he is using .00123 MF instead of .00073.
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The money factor appears to be marked up. It's possible that on the first quote, they had marked it up by even more.
The base money factor would drop the total payment by $35/mo. ($464 vs. $499)
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.00073 MF and 59% residual
No incentive info
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36/10 - .00073 and 55%
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
I was quoted $481.73 on a 1LT for 15k ... WITH $2500 Conquest Cash, another $750 Rebate and $700 Trade
Agreed Upon Value $37,775
Adding $650 Acq, $349 Doc, $135 T&R
Residual Value of $20,574.00
Our sales tax is 6.25% added onto the monthly payment.
How much is due at signing?
What is the MSRP?
Edmunds Price Checker
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Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
We gave them an authorization number we had obtained as we are a military family so we were given "GM military pricing" ?
He said that their supplier price was $37,775 and that was what they would give us.
Due at signing was just the first lease payment $481.73 - we had not decided if we wanted to do more than the trade allowance yet. Until we knew their starting point.
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Did you get a good deal? Be sure to come back and share!
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.00073 and 55%
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
.00073 MF
56%/52%/52% residual
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I luckily also worked for Toyota Financial Services for 8 years doing lease and retail contracts and was a Contract Specialist for a third party company for two years prior to that.
I inquired about a specific special that they were running ($319/mo, 39 months, 1LT, $1995 down and of course all other fees extra - acq, dealer, title and reg, and also of course, $319 does not include the monthly sales tax) and instead of answering my questions, they asked me to come back into the dealership... typical, get me in, under the light and expect me to fold.
I appreciate the quick response on the current money factor and residual percentages. We may walk away from doing business with this dealership since they seem very secretive about their pricing and figures. The salesman was new and was not even aware of what an acq or dispo fee were, so I taught him something in the process.
Thanks again.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
27: .00099 MF and 60%/59% residual
36: .00073 MF and 54%/52% residual
36 months will be the lowest
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Can you provide the RV and MF for 2018 Traverse AWD Premier w/1LZ in 60119? Thanks!
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
36/12
39/12
Columbus, OH. Thanks!
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
https://www.edmunds.com/chevrolet/traverse/2018/st-401718769/deals/