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Comments
Yes, you can roll all the taxes and fees into the cap cost. The advantage to that approach is that if the car is stolen or totaled, you don't lose that up front money you paid.
VA is one of a few states that charges sales tax against the entire selling price - it's a bummer.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
$2750 total incentives
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
i was was looking at a 2017 Honda Accord Touring.
What is the MF and Residual in IN. I was thinking it was 0.00059 but I'm not sure. And what would I multiply that by to get my interest charge? I'm new to leasing and would like to get a good deal
thank you!
Assuming 36 months and 15,000 miles, the residual is 46%
Total of $2750 in lease incentives
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
48% residual
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Thanks!
$1500 dealer cash + $1250 lease cash
55% residual
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$3900 total incentives
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
$2750 total lease incentives
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
$2750 total lease incentives
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Thank you!
.00059 and 54%
$2750 total incentives
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
I live in GA (one of the state you have to pay full tax for the lease) and was wondering if it would be possible for me to drive to SC, where I don't have to pay full tax, and get the car to save on tax.
2017 Accord Sport CVT Mod Steel Metallic
$2750 incentive
As noted, you have to pay taxes where you live.
The lease program is national.
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For PA if if matters.
TIA
$3250 incentives
49% residual for 36/15
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Honda Financial tells me that because I am in New Jersey, I have to pay extra sales tax beyond what is already included in my monthly payment. How do I get around double taxation?
That said, I agree that your initial payment should be recalculated to exclude the original capped taxes.
You might want to call Honda Financial back and speak to someone different (a manager, perhaps) - it's possible the agent you spoke with didn't fully understand the tax issues for NJ.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
$2750 total incentives
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Yeah, I'd fight that; talk with someone at NJ Department of Revenue?
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
In other words, the state and the bank only "see" the amount borrowed, rather than items specified for certain purposes. From a practical standpoint, the tax was paid upfront, and you merely rent your car for a specific amount (the payment).
That may not be fair, but if you had put $7K upfront to reduce the payment by $200/mo, then you would be extending the lease for $200/mo less, and that wouldn't be fair to the bank, and yet that's how it would work.
I don't see the bank or the state going back to parse the details of your deal. How the numbers came about is how they determined the payment, but once the deal is done, you are renting for a specific monthly payment.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
An extension is an extension to the terms you agreed to. Payment stays the same but the residual is adjusted down accordingly to account for the additional depreciation.
2017 Accord Sport CVT Mod Steel Metallic
$2750 total incentives
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Can someone who had success negotiating lease terms over email please offer some suggestions for how to get the dealer to send the necessary numbers to calculate the payment for myself?
Contacted 6 dealers near me today via their websites, none would offer me the relevant numbers so that I could put them in a lease calculator. Almost every dealer gave a variation of you have to come in to speak to a manager, we will beat any offer you bring in, we sell SO many cars(!), etc.
Only 2 dealers gave any number at all, and that was only what felt like highball monthly payment quote, no details.
But I could not even check for myself because they were not willing to offer the breakdown, like selling price and added fees so I can see where they are padding.
I was upfront about already knowing the MF, and residual, and what specific numbers I needed.
Is this normal, or is there another way? I was hoping to negotiate over email, and just go into the one dealership after deciding, and sign papers.
Thanks for your advice.
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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
A good deal (relatively speaking) is the monthly payment is less than 1% of the msrp for a std 36 month, 12k per year lease. You can always do better on some models at certian times of the year, but you should never settle for a worse deal than 1% of msrp if you care about your money.
Back when residuals were not inflated and money factors were much higher it was the 1.2% rule or $12 per 1000 of msrp. Leasing can be a good alternative for some people but not all...YMMV
if you want to see hard-core leasing dealmakers and gurus, check out:
https://forum.leasehackr.com/latest
Note the example above - MSRP is $27K, and the pre-tax/fee payment is .7% of MSRP. When the taxes and fees are added in, the payment goes to 1.1% of MSRP. Does that make it a bad deal? Not in my mind, given that the out of pocket cash is just the first payment and DMV costs.
And, some brands simply lease better than others. Audi's are not as good to lease as BMWs. I've been seeing Camry leases of under $200/mo, much less than 1% of sticker.
It depends on the MF, the residual, the incentives and the amount of discount from sticker you are able to negotiate.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Thanks- I guess I'll set aside my Saturday for visiting a few dealers.
I have only been in the room during a purchase negotiation, where only the price was discussed.
Are there any major differences I can expect for a lease? Any pitfalls to be aware of?
I'm picturing we sit down, the salesperson presents a set of numbers, and I need to carefully doublecheck each number.
I expect selling price of car will not be what I want it to be, so a point of negotiation.
I know that residual should be exactly what is posted here for a 36/12: 54% for an ACCORD LX and that I should see .00059 for MF based on credit score.
I will have taxes and fees rolled into the payment.
If the other numbers like processing fee are too high, should I pick out individual items and negotiate one by one or just say bring down the total adjusted cap cost, and leave it to them to either lower selling price or the fee?
One dealer advertises a lease deal with nothing due at signing, no down payment and no first payment.
Sorry if its a dumb question... so I really pay nothing at signing, and I should see that it is a total of 35 payments on the paperwork?
Or is this a common gotcha and they will say you can't roll taxes and fees into the payment so you have to pay that upfront? That would make it harder to compare the deal.
Sorry it's long winded... I'm getting nervous thinking about Saturday.
2. The only difference in fees is the $595 lease acquisition fee - add this to the selling price
3. Once you've negotiated a price, the number you want to focus on is the adjusted cap cost - this is the selling price plus any taxes and fees you are not paying up front. Make sure you completely understand the math the dealer uses to get the adjusted cap cost.
4. If it is a true 'sign and drive' lease, then nothing out of pocket when you sign the paperwork, and 35 equal payments
5. If you're not comfortable with something, ask them to explain it until you do understand, or walk
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Disclaimer, this is through email so may not be complete
Background- I am looking for an Accord LX, cvt
36/12, 54%, .00059
Asked for nothing down, everything rolled into payment, only first due at signing
In VA, 3.1 % tax, on the entire price
Their offer:
Lists a msrp of 23,330 (which doesn't match msrp on edmunds)
Adjusted price 17,830
Taxable fees 595 (I'm guessing the acquisition fee)
Processing fee 799 (VA has no cap, this is the highest I've seen)
Tax 797.80
Non tax fees 98.41 (probably tags)
They said is 235/month
I couldn't get it to match on the calculator about $5 off
Thanks!
If I add $700 to the MSRP and $700 to the sale price, I come up with about $237/mo.
The MSRP they quoted is definitely not correct.
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Thanks for looking at it. I'm glad you were off too. It gives me hope that I may be closer to ready.
A random question- at some dealers the only car in the color I want has 100-200 miles on it.
Does the paperwork reflect exact mileage, i.e. will it say I can return with 36,1xx miles? I know it seems trivial, but in case I go over, I don't want each mile to bite me later.
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According to the information I have, if the car has more than 200 miles, then each mile is deducted from the residual at .10/mile. No word on whether those first 200 are free, so assume that for 3000 miles, deduct $300 from the calculated residual.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4