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Lease Charges are Bogus? Or Legit?

sebrhosebrho Posts: 30
edited March 29 in Ford
Here is a picture of an offer that a dealer in Southern California is making to me for a lease on a 2019 Ford Mustang Ecoboost. I have a rebate of $1250 but all of that 1250 is used up by the following 3 charges: • Advancement Payments (i.e. First Month’s Pay) • “Upfront Charges” • “Total Cap Reduction” The salesman told me the Upfront Charges and Total Cap Reduction were basically the license and registration fees, but funny enough the 3 fees add up to $1250, exactly the same as the rebate. So are these charges BS, or are they legit?


Comments

  • kyfdxkyfdx Posts: 130,514
    What state?

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • sebrhosebrho Posts: 30
    kyfdx said:
    What state?
    California
  • MichaellMichaell ColoradoPosts: 124,309
    sebrho said:


    kyfdx said:

    What state?

    California

    The first payment is self explanatory.
    The upfront charges are likely the DMV costs, the $85 doc fee and other state mandated charges - you should get a full breakdown of them from the dealer.

    The balance of the $1250 is being used as "cap reduction" (aka down payment) so it works out to a nice round number.

    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 / 2014 MINI Countryman S ALL4

  • kyfdxkyfdx Posts: 130,514
    sebrho said:


    kyfdx said:

    What state?

    California

    I would estimate about $460-$470 in DMV/doc fee charges.
    They are only $80-90 above that.

    Nothing looks out of line.

    The Mustang is not cheap to lease.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • sebrhosebrho Posts: 30
    kyfdx said:
    kyfdx said:
    What state?
    California
    I would estimate about $460-$470 in DMV/doc fee charges. They are only $80-90 above that. Nothing looks out of line. The Mustang is not cheap to lease.
    What do you guys think of this lease offer?

  • kyfdxkyfdx Posts: 130,514
    sebrho said:


    kyfdx said:

    sebrho said:


    kyfdx said:

    What state?

    California
    I would estimate about $460-$470 in DMV/doc fee charges.
    They are only $80-90 above that.

    Nothing looks out of line.

    The Mustang is not cheap to lease.

    What do you guys think of this lease offer?



    It looks really high, given the discount. Maybe, they've marked up the APR?

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • sebrhosebrho Posts: 30
    kyfdx said:
    kyfdx said:
    kyfdx said:
    What state?
    California
    I would estimate about $460-$470 in DMV/doc fee charges. They are only $80-90 above that. Nothing looks out of line. The Mustang is not cheap to lease.
    What do you guys think of this lease offer?

    It looks really high, given the discount. Maybe, they've marked up the APR?
    The discount is good though, no? I’m discussing the monthly payments over the phone with the dealer as we speak. Because it does seem like they’ve marked up the APR.
  • kyfdxkyfdx Posts: 130,514
    sebrho said:


    kyfdx said:

    sebrho said:


    kyfdx said:

    sebrho said:


    kyfdx said:

    What state?

    California
    I would estimate about $460-$470 in DMV/doc fee charges.
    They are only $80-90 above that.

    Nothing looks out of line.

    The Mustang is not cheap to lease.

    What do you guys think of this lease offer?

    It looks really high, given the discount. Maybe, they've marked up the APR?

    The discount is good though, no? I’m discussing the monthly payments over the phone with the dealer as we speak. Because it does seem like they’ve marked up the APR.

    Yes, the discount looks good

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • sebrhosebrho Posts: 30
    kyfdx said:
    kyfdx said:
    kyfdx said:
    kyfdx said:
    What state?
    California
    I would estimate about $460-$470 in DMV/doc fee charges. They are only $80-90 above that. Nothing looks out of line. The Mustang is not cheap to lease.
    What do you guys think of this lease offer?

    It looks really high, given the discount. Maybe, they've marked up the APR?
    The discount is good though, no? I’m discussing the monthly payments over the phone with the dealer as we speak. Because it does seem like they’ve marked up the APR.
    Yes, the discount looks good
    How does the discount look to you for the other lease offer?
  • MichaellMichaell ColoradoPosts: 124,309
    sebrho said:


    kyfdx said:

    sebrho said:


    kyfdx said:

    sebrho said:


    kyfdx said:

    sebrho said:


    kyfdx said:

    What state?

    California
    I would estimate about $460-$470 in DMV/doc fee charges.
    They are only $80-90 above that.

    Nothing looks out of line.

    The Mustang is not cheap to lease.

    What do you guys think of this lease offer?

    It looks really high, given the discount. Maybe, they've marked up the APR?

    The discount is good though, no? I’m discussing the monthly payments over the phone with the dealer as we speak. Because it does seem like they’ve marked up the APR.

    Yes, the discount looks good

    How does the discount look to you for the other lease offer?

    That one looks good, too.

    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 / 2014 MINI Countryman S ALL4

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