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And, I didn't request the Costco price, he offered it up.
I'd say your experience is more typical, than not. Most people wouldn't know a money factor if it bit them in the butt, and the dealer relies on that.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
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Some really useful information here. I read up on this and here are some calculations for what my dealer is offering.
MSRP - $46635
Best Price Quoted - $44586
I work with an organization that allows me a fleet discount of $1000 so - $43586
43586 *0.58 (36/15) = 25280
43586 - 25280 = 18306
18306/36 = 508.5
(43586+25280)*0.00166 = 114
508.5 + 114 = 622.5
622.5 * 0.0925 (CA) = 57
622.5 + 57 = $670 (inclusive of taxes)
This is minus any further dealer costs
So this seems too high to me, or is it just about right?
That changes the calculations to $466.88 (depreciation) + $117.70 (rent) = $584.58 (pretax) * 9.25% = $638.66.
These are not inexpensive to lease - the high MF is why.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
This is wonderful information thanks, you guys absolutely rock !
One last question, lease related, not related to payments, for a lease would you advise one to get additional packages such as tire protection package or fabric protection package or the wear and tear package or are these all scams?
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Let's say I go to a dealership and the finance folks run the numbers and offer a MF of > 0.00166. I do understand that I have the option of leaving, but if I go to another dealership will they run the numbers again? Meaning 2 hits to my credit score?
What's the best solution in this case?
Thanks in advance.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
If these are factory demos and have never been titled, then they qualify for new car lease rates. The residual is adjusted down for the miles on the car ... but, you should negotiate a lower selling price to compensate.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Another question on the pricing. I thought I had the calculations nailed down. Here is my calculation -
MSRP = 46225
Price Agreed upon = 43090
46225 * 0.58 = 26810
46225 - 26810 = 19415
19415 - 1000(fleet discount) - 3135(discount on MSRP) - 2324.52(minimum drive off) = 12955.48
12955 / 36 = 360
(46225 + 26810) * 0.00156 (autopay)= 114
360 + 114 = 474
474 * 0.0925 (considering 9.25% tax) = 43
474 + 43 = 517
The dealership is however quoting =
Selling price: $43,090
Minimum drive-off: $2,324.52
Monthly payment: $561.25 plus tax = $610.36
Term: 36 months
15,000 miles per year
Residual value (buyout amount at the end of the lease): $26,810.50
Buy Rate (with Autopay) - Must qualify for Super Tier 1 credit: .00156
How is there such a big difference in calculations?
Also, verify that the selling price doesn't already include the fleet discount.
The money factor is applied to the sum of the adjusted CAP cost + residual. Not MSRP + residual.
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Don't know the exact details of the Mercedes MSD program, but I think they allow 9 multiple security deposits, and each one lowers the money factor by a set amount. They are fully refundable at lease end.
Most MSD programs result in a savings of $40-$70 per month, depending on the lease variables. Which is still substantial.
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One dealer had a tire protection for about $700 for 5 years and an it was prorated for any unused portion. We got back $ 482 when we returned our lease back. The new dealer we used could not match that tire protection deal and wanted to charge us $1500. We decided against this. Find out the price of the tire package.
You are correct. Dealers cannot alter residuals.
The current MF is .00131 for RWD and .00130 for AWD.
TMV is an average. My goal would be to beat that number by a lot.
When I negotiate a lease, I let the dealer know upfront that I expect the base money factor, and all numbers should be based on them giving me that rate. Then, I negotiate price from there and verify, verify, verify. It's not like detente. No trust involved.
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With respect to the residual. That's set in stone from Mercedes-Benz finincial services. It's fixed through out the state. Actually it's a very good residual. Anything above the 54-55% mark is very good. I'm going to send you a screen shot of the invoice in moments so you can view it. I believe in full transparancey. I want to do business with you more than just this one time and the only way for that to happen is by being cut to the chase and up front with you. At the same time I'm married and I know better than to piss off a young lady. " Where do I go from here? Do you think the MF includes autopay?
Im looking to lease a GLC300 36/12
From the most recent replies I see a MF .00131 and 60%
MSRP 41725
Neg Price 38387
Residual 25035
MSRP 41725 - Residual 25035 = 16690
16690/36 = 463.61
463.61 * 3.144% = 14.58
478.19 + 31.08 (FL tax) = 509.27
Does not include tag,title.
Is the 925 Destination fee part of the MSRP?
How is that calculated?
Thank you in advance
So, with all this disclosure, what is the payment and amount due at signing?
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Even with the right residual, your calculations are not done correctly.
Monthly depreciation + monthly finance charge + monthly tax = monthly payment
Monthly depreciation:
CAP cost - residual = total depreciation/term
(we don't have the CAP cost, so we will use the Neg price)
38387 - $24200.50 = $14186.50/36 = $394.07
Monthly Finance:
(CAP cost + residual) X money factor
(38387 + 24200.50) X .00131 = $81.99
Monthly tax:
Payment X 6%
$394.07 + $81.99 = $476.06 X 6% = $28.56
$394.07 + $81.99 + $28.56 = $504.62
Since you are in Florida, not only will you have tag/title charges, but also an acquisition fee ($795) and probably a big fat dealer fee of $599-$999. Those extra charges are the ones you have to watch out for.
And yes, destination is part of the MSRP.
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Pmt: $620 due at signing $1000
The Negotiated price includes all of the fees you mentioned above.
Im trying to walk out with $0 down. But would agree to 1st month and tag/title.
Do Cap costs include Dealer & Acquisition fees?
Have you reached out to other dealers? It's amazing what a little competition will do for the selling price.
And, it's not your concern what his profit is - take everything they say with a grain of salt. Or a shaker.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
The adjusted cap is the selling price + fees - incentives / trade equity.
Acq fee not negotiable, but dealer can mark it up to $1095.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
The acquisition fee is $795, but MBFS allows the dealer to mark it up by $300 for extra profit.
Dealer fees may or may not be negotiable (that's up to the dealer), but you can certainly negotiate a lower price to make up for an onerous fee.
Destination is part of the MSRP. Any price quoted should not have a destination fee added to it, afterwards. That's just disingenous.
Disposition fees aren't part of the lease payment. They are paid at lease end.
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If you are in Florida (as your user name suggests), tax is assessed against the monthly payment and cannot be paid up front.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
If not, walk and find another dealer. Only takes one to make a deal on your terms.
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