Thanks for advice. But I'm getting tired of dealing with it all.
On a whim, contacted local dealer and they quoted 586 payment. They weren't playing ball earlier in the month. I said I had X deal from the competition they quickly pulled a 321 payment out of the paperwork. Haha.
Dealer said they using the base MF but adding the .0005 as I'm waiving the acq fee
24/10 7 MSDs - but I thought they were rounded to the 1/2. So 319 would be 350*7. They calculate at 400
The aftermarket line is for window tint install. They install on all stock cars. I've not price tint for the i3, but this seems high. It does have odd windows. Still 200 seems fair. But that's a smaller issue.
Deal solid or not? What room do I have ?
Any accessories a good ask for as in free (:
Goal is is as little down as possible. And the golden 300 ish payment.
Additionally i'll have the $500 USAA lease cash to add. That should take $20 off the payment.
Thanks in advance.
Still looks like a good deal ... if you can negotiate a lower price on the tint that will help, as will the USAA credit. Not sure why they are rounding up the MSD amount to $400 rather than $350, however.
135iusn, if you don't mind, can you post the section in your lease contract called "YOUR MONTHLY PAYMENT IS DETERMINED AS SHOWN BELOW". I appreciate it.
Got a quote for a REX/i3 - Mega + Parking + Technology Package - 10K/30Month
MSD: 2450.00 MF: .00081 Residual:57% Adjusted Cap: 36K Sales Tax: 1490.00 Monthly Payment: $300 with 2450 MSD + 1490 Sales Tax @ Drive Off, I would get back 2.5K back from the state
Got a quote for a REX/i3 - Mega + Parking + Technology Package - 10K/30Month
MSD: 2450.00 MF: .00081 Residual:57% Adjusted Cap: 36K Sales Tax: 1490.00 Monthly Payment: $300 with 2450 MSD + 1490 Sales Tax @ Drive Off, I would get back 2.5K back from the state
I have a very specific situation where I am wanting to trade in an auto when leasing that has $9k in negative equity when coupled with the best offer.
I am going to be putting an extra $9k down to cancel this out on top of $6500 out of pocket.
When doing calculations on fees and payments I am noticing if I run the lease deals without the trade and negative equity with the additional money down my payments are higher.
I would think that if I am cancelling out the trade any money added or taken away would be a wash.
I am getting taxed on the extra $9k even though its cancelling out the negative equity and not going towards the lease its still counted as a Cap Cost reduction and therefore taxed.
Anyone know if this is right?
Can the dealer itemize the paperwork so I am not taxed on that?
I have a very specific situation where I am wanting to trade in an auto when leasing that has $9k in negative equity when coupled with the best offer.
I am going to be putting an extra $9k down to cancel this out on top of $6500 out of pocket.
When doing calculations on fees and payments I am noticing if I run the lease deals without the trade and negative equity with the additional money down my payments are higher.
I would think that if I am cancelling out the trade any money added or taken away would be a wash.
I am getting taxed on the extra $9k even though its cancelling out the negative equity and not going towards the lease its still counted as a Cap Cost reduction and therefore taxed.
Anyone know if this is right?
Can the dealer itemize the paperwork so I am not taxed on that?
Is my calculator just not correct?
No idea about the calculator - it may be making assumptions we know nothing about.
In general, the $9k cash should cancel out the negative equity, but the tax implications could be state specific. You can research your state's department of revenue website to see if you can get any clarity on that.
Michaell, can you post the residuals on a 2015 i3 for November in Wisconsin (Central) for 2 years 20k miles?
Also it seems the current incentive is just lease cash of $7500 and the $1000 option is gone?
Thanks!
We only have the Western region numbers, but from what we've heard, the $1000 buildout cash is gone for the rest of the country.
.00131 MF and 60% residual for 24mo, 15K/yr.
Have to check with a dealer to see what the extra 10K miles will do.
I think that the OP meant 20k total, or 10k per year.
I am about to pull the trigger on a base i3 - the only add on option is the Laurel Grey paint. I'd like to know the residual on both the 30 and 36 month leases with 15K miles/year. I've negotiated the selling price to $38,600 and with the incentives and a $10,500 TDI trade I'm coming up with lease payments of about $80/month if the residuals are what I assume they should be, which is sort of unbelievable . I just want to have a real sense of where I stand when I go back to the dealer tomorrow.
I am about to pull the trigger on a base i3 - the only add on option is the Laurel Grey paint. I'd like to know the residual on both the 30 and 36 month leases with 15K miles/year. I've negotiated the selling price to $38,600 and with the incentives and a $10,500 TDI trade I'm coming up with lease payments of about $80/month if the residuals are what I assume they should be, which is sort of unbelievable . I just want to have a real sense of where I stand when I go back to the dealer tomorrow.
.00131 and 55% or 50%.
We don't recommend using trade equity as a down payment - if the car is stolen or totaled, you lose that money. Have the dealer cut you a check instead and use it to augment the (higher) payment. Or, use it as MSD.
We would need to know the MSRP in order to model a payment. Have seen deals around $300/mo, but that's with max MSD to buy down the MF
thanks for the reassurance. i think if i pressed harder or waited a bit more till the end of year i could get more than a 14% discount off of MSRP ($7700) but since i can't find another one spec'd like it laurel grey, terra, all options part of me doesn't want to find myself in a better negotiation position but without the car i want. has been much harder finding laurel gray than the non metallic gray.
thanks for the reassurance. i think if i pressed harder or waited a bit more till the end of year i could get more than a 14% discount off of MSRP ($7700) but since i can't find another one spec'd like it laurel grey, terra, all options part of me doesn't want to find myself in a better negotiation position but without the car i want. has been much harder finding laurel gray than the non metallic gray.
b
At the end of the year, inventory levels are pretty low and it's more a matter of "taking what you can get".
Can an expert comment on below? Couple of things to note I get 1K fleet discount due to my employer and the dealer did not mention the MSD at all.
My lease terms offer from dealership in Nor Cal are like this. Any good? MSRP 49500 (i3, REX) selling price 44000, Rebate 7500, down payment 2500, residual 27,745 and monthly payment 373 before tax. 30 months and 15k/year.
Can an expert comment on below? Couple of things to note I get 1K fleet discount due to my employer and the dealer did not mention the MSD at all.
My lease terms offer from dealership in Nor Cal are like this. Any good? MSRP 49500 (i3, REX) selling price 44000, Rebate 7500, down payment 2500, residual 27,745 and monthly payment 373 before tax. 30 months and 15k/year.
.00131 MF and 56% residual.
I get $377/mo.+tax, which is pretty close.
I'm assuming that your $2500 covers 1st payment, $925 acq.fee, upfront tax on acq.fee and rebate, title/registration.
There is a $1000 incentive in the West Region, in addition to the $7500 rebate. Given that and anecdotal reports above, you might push for a little lower selling price. That said, it doesn't look like you are getting any markups to the fees/MF, so that's good.
Most dealers aren't going to bring up MSDs, because they are trying to sell a car, and maybe 5% of their lessees opt for them (the smart ones).
If you made 7 MSDs ($2800), the MF would drop to .00082, and the payment would drop by $32/mo. pre-tax. That would make a good deal, even better.
Hi, I'm newly looking at dealer ads for i3 lease and notice they are all for 24 months, which doesn't qualify for CA rebate of $2500. Any reason for this?
Also, could you explain MSDs (or point me to prior explanation)?
Hi, I'm newly looking at dealer ads for i3 lease and notice they are all for 24 months, which doesn't qualify for CA rebate of $2500. Any reason for this?
Also, could you explain MSDs (or point me to prior explanation)?
Many thanks.
Probably because Califonia isn't the only place they sell the i3. Amortizing the big incentives over fewer months makes for a lower lease payment.
But, as you note, you need at least a 30 month lease in CA to qualify for the state rebate. They do have a very good 30 month program, and while the monthly payment would be more than 24 months, the $2500 rebate will more than make up for it.
Multiple Security Deposits allows you to buy down the money factor on the lease. Actually, it's more like "rent down", as the security deposits are returned to you at lease end.
You can make 7 MSDs for a total reduction of .00049, resulting in a base MF of .00082. Each SD is your payment, rounded up to the next $50 increment. (so, if your payment, including tax is $329, each SD is $350 and a total of 7 MSDs would be $2450).
Hi, I'm newly looking at dealer ads for i3 lease and notice they are all for 24 months, which doesn't qualify for CA rebate of $2500. Any reason for this?
Also, could you explain MSDs (or point me to prior explanation)?
Many thanks.
Probably because Califonia isn't the only place they sell the i3. Amortizing the big incentives over fewer months makes for a lower lease payment.
But, as you note, you need at least a 30 month lease in CA to qualify for the state rebate. They do have a very good 30 month program, and while the monthly payment would be more than 24 months, the $2500 rebate will more than make up for it.
Multiple Security Deposits allows you to buy down the money factor on the lease. Actually, it's more like "rent down", as the security deposits are returned to you at lease end.
You can make 7 MSDs for a total reduction of .00049, resulting in a base MF of .00082. Each SD is your payment, rounded up to the next $50 increment. (so, if your payment, including tax is $329, each SD is $350 and a total of 7 MSDs would be $2450).
MSRP $47245, sale price $42559.50 Sales Tax+other fees $3710.14 ($3200.14 is sales tax). So total is $46,269.64. 30 month, 15k miles, $7500 rebate $5k down, monthly payments are $331/mo.
Since this is the first offer they gave me it's probably not a great deal... is it?
MSRP $47245, sale price $42559.50 Sales Tax+other fees $3710.14 ($3200.14 is sales tax). So total is $46,269.64. 30 month, 15k miles, $7500 rebate $5k down, monthly payments are $331/mo.
Since this is the first offer they gave me it's probably not a great deal... is it?
It doesn't look nearly as good as some of the other deals we've seen.
What state do you live in, where tax is $3200 on a lease?
You're right. I'm in CA, and the local tax is 7.5%. So the $3200 appears to be for the full price of the car. What do you feel is not as good as others (not second guessing you, I'm sure you're right)? Final sale price? Cap reductions? Money factor? All of the above? I've only gone to one dealer, so I'll have to ask around at others.
Confirming the MF on a 30month i3 base or extended range in California is .00131 and 59% residual. My understanding is $7500 incentive + $1000 build out cash in November, so at the very least the dealer has $8500 to reduce the MSRP before I try to negotiate down further? And if its kept 30+ months, there's $2500 rebate from State of California?
Comments
MSRP $52,245
Selling Price $46,000
Sales Tax (OH @ 7.5%) $472
Rebates & Incentive $(8,500)
Net Cap Cost $37,972
Money Factor 0.00135
APR 3.24%
Residual 63%
Residual Value $32,914
Lease Terms $24
No. of MSDs 7 x 0.0007
Total MSD $2,100
Effective Money Factor 0.00086
Monthly Depreciation ($5,057/24) $211
Monthly Finance Charges ($1,463/24) $61
Total Monthly Payment before Tax $272
Total Due at signing: $2,772
1st Month Payment $272
Doc Fee $250
DMV Fees $150
MSD Refundable $2,100
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If that's what you want, they should cut you a check.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
MSD: 2450.00
MF: .00081
Residual:57%
Adjusted Cap: 36K
Sales Tax: 1490.00
Monthly Payment: $300 with 2450 MSD + 1490 Sales Tax @ Drive Off, I would get back 2.5K back from the state
Is this a good deal?
Seems like a pretty good deal, on the surface.
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I am going to be putting an extra $9k down to cancel this out on top of $6500 out of pocket.
When doing calculations on fees and payments I am noticing if I run the lease deals without the trade and negative equity with the additional money down my payments are higher.
I would think that if I am cancelling out the trade any money added or taken away would be a wash.
I am getting taxed on the extra $9k even though its cancelling out the negative equity and not going towards the lease its still counted as a Cap Cost reduction and therefore taxed.
Anyone know if this is right?
Can the dealer itemize the paperwork so I am not taxed on that?
Is my calculator just not correct?
In general, the $9k cash should cancel out the negative equity, but the tax implications could be state specific. You can research your state's department of revenue website to see if you can get any clarity on that.
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Also it seems the current incentive is just lease cash of $7500 and the $1000 option is gone?
Thanks!
.00131 MF and 60% residual for 24mo, 15K/yr.
Have to check with a dealer to see what the extra 10K miles will do.
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63% residual in that case.
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We don't recommend using trade equity as a down payment - if the car is stolen or totaled, you lose that money. Have the dealer cut you a check instead and use it to augment the (higher) payment. Or, use it as MSD.
We would need to know the MSRP in order to model a payment. Have seen deals around $300/mo, but that's with max MSD to buy down the MF
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Northern California
2015 REX
MSRP $55,895
Selling Price $47,100 (14% discount off list and then $1000 options credit)
Lender: BMFS
Term 30 months
Mileage 10,000/year
Money Factor 0.82
Residual Factor: 59%
Selling Price $47100
Bank Fee $925
Total Capitalized Cost $48025
Residual Value $32,978.05
Total Depreciation $7,546.95
Capital Reduction $7,500.00
Monthly Depreciation $251.56
Monthly Rent $60.27
Monthly Payment $311.84
Tax (8.75%) $27.29
Monthly Payment + Tax $339.12
Capital Reduction $7,500.00
Cap Reduction Tax (8.75%) $663.25
License & Registration $425.00
Documentation Fee $80.00
First Payment $339.12
Security Deposit $2,450.00
Drive Off $11,457.37
Rebate $7,500.00
Due at Signing $3,957.37
If you're happy with the negotiated price, no reason not to pull the trigger.
$339/mo for a car that originally stickers at $56K is an amazing deal.
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b
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quick question, what exactly is the monthly rent charge of $60.27? is that normal?
b
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But, if you think about it, a lease is just like 'renting' a car .. you don't own it, and you return it when you're done.
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My lease terms offer from dealership in Nor Cal are like this. Any good? MSRP 49500 (i3, REX) selling price 44000, Rebate 7500, down payment 2500, residual 27,745 and monthly payment 373 before tax. 30 months and 15k/year.
I get $377/mo.+tax, which is pretty close.
I'm assuming that your $2500 covers 1st payment, $925 acq.fee, upfront tax on acq.fee and rebate, title/registration.
There is a $1000 incentive in the West Region, in addition to the $7500 rebate. Given that and anecdotal reports above, you might push for a little lower selling price. That said, it doesn't look like you are getting any markups to the fees/MF, so that's good.
Most dealers aren't going to bring up MSDs, because they are trying to sell a car, and maybe 5% of their lessees opt for them (the smart ones).
If you made 7 MSDs ($2800), the MF would drop to .00082, and the payment would drop by $32/mo. pre-tax. That would make a good deal, even better.
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I'm newly looking at dealer ads for i3 lease and notice they are all for 24 months, which doesn't qualify for CA rebate of $2500. Any reason for this?
Also, could you explain MSDs (or point me to prior explanation)?
Many thanks.
Amortizing the big incentives over fewer months makes for a lower lease payment.
But, as you note, you need at least a 30 month lease in CA to qualify for the state rebate.
They do have a very good 30 month program, and while the monthly payment would be more than 24 months, the $2500 rebate will more than make up for it.
Multiple Security Deposits allows you to buy down the money factor on the lease. Actually, it's more like "rent down", as the security deposits are returned to you at lease end.
You can make 7 MSDs for a total reduction of .00049, resulting in a base MF of .00082.
Each SD is your payment, rounded up to the next $50 increment. (so, if your payment, including tax is $329, each SD is $350 and a total of 7 MSDs would be $2450).
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BMW numbers are good through 11/30/15.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
0 down,$265(first payment)+$450(fees)+$2100(MSDs)
$265 a month,10/24.
Looks good to me,any opinions?
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10k/24m 10k/30m 10k/36m and
12k/24m 12k/30m 12k/36m
Thanks a lot in advanced
Add 1% for 10K/yr
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MSRP $47245, sale price $42559.50
Sales Tax+other fees $3710.14 ($3200.14 is sales tax). So total is $46,269.64.
30 month, 15k miles, $7500 rebate
$5k down, monthly payments are $331/mo.
Since this is the first offer they gave me it's probably not a great deal... is it?
What state do you live in, where tax is $3200 on a lease?
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