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Car Buying Advice--Dealer Lease Fees in NJ?

kmart00kmart00 Posts: 25
edited March 2017 in Subaru
Hi! I am sooooo close to pulling the trigger on this one:

Basically, a dealer has 'agreed' to meet the Edmunds lease deal for March that I found here:
Matrix of March Lease Deals

I am looking at a Forester Limited, 0 down. 36k miles. $289/month

Here is the hiccup. It seems that Edmunds shows total cost of the lease-- I assume that includes dealer fees, no?

This dealer is asking for $1625 in inception fees on top of the $289/month. Is that a reasonable amount? Am I wrong on the way Edmunds has shown the total cost of the lease?

Answers

  • kyfdxkyfdx Posts: 130,977
    kmart00 said:

    Hi! I am sooooo close to pulling the trigger on this one:

    Basically, a dealer has 'agreed' to meet the Edmunds lease deal for March that I found here:
    Matrix of March Lease Deals

    I am looking at a Forester Limited, 0 down. 36k miles. $289/month

    Here is the hiccup. It seems that Edmunds shows total cost of the lease-- I assume that includes dealer fees, no?

    This dealer is asking for $1625 in inception fees on top of the $289/month. Is that a reasonable amount? Am I wrong on the way Edmunds has shown the total cost of the lease?

    No.. probably doesn't include the fees.

    Acquisition fee for SMF is $595.
    Dealer fees in NJ range from $199-$499, from anecdotal reports.
    Then, you'll have your local DMV fees ($300-$400 in NJ)
    So, $1625 seems a little steep, unless that also includes first payment.

    Even with first payment, $1400 would be acceptable, to me.

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

    Edmunds Moderator

  • kmart00kmart00 Posts: 25
    thanks! It does include the first payment
  • sparky112sparky112 NJPosts: 10
    edited March 2017
    Couple questions.
    First of all subaru had mom sign a lease waiver that looked like a simple contract with her numbers on it it relinguished her right to a 24hr review. As i look at it im thinkin she got screwed. Was told she was gonna get car buyer club discount 500 below invoice. Invoice to them is the retail price but thats not the real invoice...am i correct?
    Put 2000 down and 1000 for her trade but this is what i see on the agreement and sticker

    Sticker subaru premium
     msrp 25995 option pkg13 for $500 he said he'd throw in the mats for free and splash guards cargo tray but i wonder if thats included in the package with the car anyway? 

    28213 msrp - i thought it strange they put the total suggested retail price including destination charge in this box
    311- title registration
    29095.29 -gross cap cost
    2242.50 - cap cost reduction includes
                      1242.50 cash payment but she paid. 2265 and 1000 trade in credit

    26852.79 - total cap cost /adjusted cap cost
    17492.06 residual
    265 periodic payment
    14130 total fixed cost of lease w no option to buy
    31622.06 w option to purchase
    595 aquisition fee

    What do u think?
    On a side note the destination charge and the floor mats cargo tray everything is all icluded in that total suggested retail price 28213 price
    I dont know maybe its all good and just scared me bc she seemed forced to sign that waiver and where is her $1000 bucks
    I dont think its right to sign a waiver in order to proceed. 
    Is there a way around that and still get the car and sign the contract without the waiver it didnt seem like it.
    Thanks in advance







  • kyfdxkyfdx Posts: 130,977
    sparky112 said:

    Couple questions.
    First of all subaru had mom sign a lease waiver that looked like a simple contract with her numbers on it it relinguished her right to a 24hr review. As i look at it im thinkin she got screwed. Was told she was gonna get car buyer club discount 500 below invoice. Invoice to them is the retail price but thats not the real invoice...am i correct?
    Put 2000 down and 1000 for her trade but this is what i see on the agreement and sticker

    Sticker subaru premium
     msrp 25995 option pkg13 for $500 he said he'd throw in the mats for free and splash guards cargo tray but i wonder if thats included in the package with the car anyway? 

    28213 msrp - i thought it strange they put the total suggested retail price including destination charge in this box
    311- title registration
    29095.29 -gross cap cost
    2242.50 - cap cost reduction includes
                      1242.50 cash payment but she paid. 2265 and 1000 trade in credit

    26852.79 - total cap cost /adjusted cap cost
    17492.06 residual
    265 periodic payment
    14130 total fixed cost of lease w no option to buy
    31622.06 w option to purchase
    595 aquisition fee

    What do u think?
    On a side note the destination charge and the floor mats cargo tray everything is all icluded in that total suggested retail price 28213 price
    I dont know maybe its all good and just scared me bc she seemed forced to sign that waiver and where is her $1000 bucks
    I dont think its right to sign a waiver in order to proceed. 
    Is there a way around that and still get the car and sign the contract without the waiver it didnt seem like it.
    Thanks in advance







    That's correct for MSRP. It's the bottom line of the window sticker.
    Manufacturer Suggested Retail Price.

    The reason the CAP cost reduction isn't $3000? Tax on CAP reduction and maybe the $595 acquisition fee came out of that? That leaves the balance for CAP reduction.

    Pretty sure the 24 hour waiver is required on a car purchase/lease, as there is no cooling off period for a car purchase/lease.

    Problems:
    1) I don't see any discount from MSRP in this deal
    2) Why is the Gross CAP $882 more than the MSRP. What got added besides the $311 fee?
    Why no discount from MSRP?

    Which model is this? Forester 2.5i Premium?
    What term and mileage allowance?

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

    Edmunds Moderator

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