Am I getting a good deal? - 2020 CX5 FWD GT w/ PP

kilo16

Hi,

I'm new to leasing and want to know if I'm getting a good deal?

Lease term: 36 months
Mileage: 10k miles
Down: 0
Drive off: upfront fees 430
Monthly payment: 375 including tax (9.5%)

MSRP 33,035
2k discount + 600 rebate

Thanks!

Michaell

kilo16 said:

Hi,

I'm new to leasing and want to know if I'm getting a good deal?

Lease term: 36 months
Mileage: 10k miles
Down: 0
Drive off: upfront fees 430
Monthly payment: 375 including tax (9.5%)

MSRP 33,035
2k discount + 600 rebate

Thanks!

What is your location?
What is the adjusted cap cost, with the fees added in that you aren't paying up front?

kilo16

Michaell said:

kilo16 said:

Hi,

I'm new to leasing and want to know if I'm getting a good deal?

Lease term: 36 months
Mileage: 10k miles
Down: 0
Drive off: upfront fees 430
Monthly payment: 375 including tax (9.5%)

MSRP 33,035
2k discount + 600 rebate

Thanks!

What is your location?
What is the adjusted cap cost, with the fees added in that you aren't paying up front?

I live in LA so there's a lot of fees e.g. tire fees, registration, CA specific fees but they waived the first months payment. I got the offer over the phone but I think he said the cap cost was $31329 or something around there.

Michaell

kilo16 said:

Michaell said:

kilo16 said:

Hi,

I'm new to leasing and want to know if I'm getting a good deal?

Lease term: 36 months
Mileage: 10k miles
Down: 0
Drive off: upfront fees 430
Monthly payment: 375 including tax (9.5%)

MSRP 33,035
2k discount + 600 rebate

Thanks!

What is your location?
What is the adjusted cap cost, with the fees added in that you aren't paying up front?

I live in LA so there's a lot of fees e.g. tire fees, registration, CA specific fees but they waived the first months payment. I got the offer over the phone but I think he said the cap cost was $31329 or something around there.

.00001 and 58%
$250 lease cash

With the MSRP and cap cost provided, I get $371/mo, tax included.

Pretty close to the dealer quote of $375/mo.

RickyWong

Hi,

I'm new to leasing and want to know if I'm getting a good deal? The dealership is in Delaware and I'm a New Jersey resident in zip code 08030. The model is the 2020 CX-5 AWD, Grand Touring trim with no additional options.

Lease term: 36 months
Mileage: 10k miles
Down: 0
Advanced Payments: $360.85
Total Cap Reduction: $339.15
Monthly payment: $360.85

MSRP $32,875.00
$2,385.00 discount
Sale Price: $30,490.00

Thanks!

Michaell

RickyWong said:

Hi,

I'm new to leasing and want to know if I'm getting a good deal? The dealership is in Delaware and I'm a New Jersey resident in zip code 08030. The model is the 2020 CX-5 AWD, Grand Touring trim with no additional options.

Lease term: 36 months
Mileage: 10k miles
Down: 0
Advanced Payments: $360.85
Total Cap Reduction: $339.15
Monthly payment: $360.85

MSRP $32,875.00
$2,385.00 discount
Sale Price: $30,490.00

Thanks!

How much, total, is due at signing?

NJ collects the sales tax up front, or you can choose to roll it into the monthly payment. Same with the fees.

RickyWong

Michaell said:

RickyWong said:

Hi,

I'm new to leasing and want to know if I'm getting a good deal? The dealership is in Delaware and I'm a New Jersey resident in zip code 08030. The model is the 2020 CX-5 AWD, Grand Touring trim with no additional options.

Lease term: 36 months
Mileage: 10k miles
Down: 0
Advanced Payments: $360.85
Total Cap Reduction: $339.15
Monthly payment: $360.85

MSRP $32,875.00
$2,385.00 discount
Sale Price: $30,490.00

Thanks!

How much, total, is due at signing?

NJ collects the sales tax up front, or you can choose to roll it into the monthly payment. Same with the fees.

On the contract says $700 due on delivery on the bottom. I’m guessing is the first month payment plus the total cap reduction? The contract also said $700 Customer Cash then the total of Cash and Rebate is $700. Is that like a discount?

Michaell

RickyWong said:

Michaell said:

RickyWong said:

Hi,

I'm new to leasing and want to know if I'm getting a good deal? The dealership is in Delaware and I'm a New Jersey resident in zip code 08030. The model is the 2020 CX-5 AWD, Grand Touring trim with no additional options.

Lease term: 36 months
Mileage: 10k miles
Down: 0
Advanced Payments: $360.85
Total Cap Reduction: $339.15
Monthly payment: $360.85

MSRP $32,875.00
$2,385.00 discount
Sale Price: $30,490.00

Thanks!

How much, total, is due at signing?

NJ collects the sales tax up front, or you can choose to roll it into the monthly payment. Same with the fees.

On the contract says $700 due on delivery on the bottom. I’m guessing is the first month payment plus the total cap reduction? The contract also said $700 Customer Cash then the total of Cash and Rebate is $700. Is that like a discount?

You shouldn't be guessing, when it comes to the numbers on the contract.

If there is something you don't understand, ask the dealer until you do understand.

Can you redact the SPI and post a copy of the contract?

RickyWong

RickyWong

This is the contract, I received.

Michaell

RickyWong said:

This is the contract, I received.

Lots of missing information, that you need to ask the dealer about:

Acquisition fee?
Dealer fee?
Sales tax amount?

With only $700 out of pocket, those costs are likely to be added to the discounted selling price.

Ask them what the adjusted cap cost is, and how they specifically arrived at that number.

RickyWong

Michaell said:

RickyWong said:

This is the contract, I received.

Lots of missing information, that you need to ask the dealer about:

Acquisition fee?
Dealer fee?
Sales tax amount?

With only $700 out of pocket, those costs are likely to be added to the discounted selling price.

Ask them what the adjusted cap cost is, and how they specifically arrived at that number.

They said The offer was based on tier one credit and includes all the fees and taxes. Sorry I’m new to leasing, I’m still trying to learn all these new terminology and numbers.

Michaell

RickyWong said:

Michaell said:

RickyWong said:

This is the contract, I received.

Lots of missing information, that you need to ask the dealer about:

Acquisition fee?
Dealer fee?
Sales tax amount?

With only $700 out of pocket, those costs are likely to be added to the discounted selling price.

Ask them what the adjusted cap cost is, and how they specifically arrived at that number.

They said The offer was based on tier one credit and includes all the fees and taxes. Sorry I’m new to leasing, I’m still trying to learn all these new terminology and numbers.

The paperwork you have doesn't have those details. What else might they have snuck in, under the category of "all"?

Look here to get caught up...
https://www.edmunds.com/car-leasing/