Basis for MF info on this site

ganderso

Hello,
I'm in negotiations to lease an Ascent Limited 7 seat in Socal and I used this site to get the RV/MF (58%/.0009) (for which I'm thankful). When I went in to the dealer, the MF they offered in writing was .0014, before checking my credit. I assume they just marked it up but my question is where does the .0009 number come from? I understand the 2400xMF=APR calculation, but is that the rate that the manufacturer in house financing is offering? In other words, what's my justification for saying to the dealer, "your MF SHOULD be .0009"? I suppose if they don't want to negotiate the MF there's nothing I can do except go somewhere else. Thanks.

Michaell

ganderso said:

Hello,
I'm in negotiations to lease an Ascent Limited 7 seat in Socal and I used this site to get the RV/MF (58%/.0009) (for which I'm thankful). When I went in to the dealer, the MF they offered in writing was .0014, before checking my credit. I assume they just marked it up but my question is where does the .0009 number come from? I understand the 2400xMF=APR calculation, but is that the rate that the manufacturer in house financing is offering? In other words, what's my justification for saying to the dealer, "your MF SHOULD be .0009"? I suppose if they don't want to negotiate the MF there's nothing I can do except go somewhere else. Thanks.

The number we quote are from Subaru Motor Finance (aka, "the bank").

The dealer is marking up the MF the max allowed.

Don't negotiate the rate - simply tell them you won't sign a deal unless you get the base rate. They know what it is.

And yes, if they refuse, find another dealer.

ganderso

Thanks so much, that makes sense now.