I found this deal on a Civic Sport Sedan, but I cannot figure out if it is good with all the fees

mick_jagger2011 · September 2019

So, as the title says, I got this deal from a dealership in the 85224 area, and I had a good idea going in, but after getting the numbers with all the fees and whatnot, I don't know if this is a good lease or not. Could anyone have a look and tell me if it looks okay with a $0 down?

With $0 down, the monthly lease for a 36/12 term is $351.

Michaell · September 2019

mick_jagger2011 said:
So, as the title says, I got this deal from a dealership in the 85224 area, and I had a good idea going in, but after getting the numbers with all the fees and whatnot, I don't know if this is a good lease or not. Could anyone have a look and tell me if it looks okay with a $0 down?

With $0 down, the monthly lease for a 36/12 term is $351.

$350/mo for a $23K car is not a good deal.

And, you'll notice that the header of that box says "purchase option". So, not all of those numbers are valid for a lease, and there are missing numbers that you need to know about.

Ask the dealer for a lease worksheet, and we can evaluate.

mick_jagger2011 · September 2019

Michaell said:

mick_jagger2011 said:
So, as the title says, I got this deal from a dealership in the 85224 area, and I had a good idea going in, but after getting the numbers with all the fees and whatnot, I don't know if this is a good lease or not. Could anyone have a look and tell me if it looks okay with a $0 down?

With $0 down, the monthly lease for a 36/12 term is $351.
$350/mo for a $23K car is not a good deal.

And, you'll notice that the header of that box says "purchase option". So, not all of those numbers are valid for a lease, and there are missing numbers that you need to know about.

Ask the dealer for a lease worksheet, and we can evaluate.

Hi, thank you! Here is the lease worksheet:

kyfdx · September 2019

mick_jagger2011 said:

Michaell said:

mick_jagger2011 said:
So, as the title says, I got this deal from a dealership in the 85224 area, and I had a good idea going in, but after getting the numbers with all the fees and whatnot, I don't know if this is a good lease or not. Could anyone have a look and tell me if it looks okay with a $0 down?

With $0 down, the monthly lease for a 36/12 term is $351.
$350/mo for a $23K car is not a good deal.

And, you'll notice that the header of that box says "purchase option". So, not all of those numbers are valid for a lease, and there are missing numbers that you need to know about.

Ask the dealer for a lease worksheet, and we can evaluate.
Hi, thank you! Here is the lease worksheet:

Something is seriously wrong with the Rent Charge.
Do you have poor credit?

.00089 MF and 59% residual

The rent charge with top tier credit and that money factor is about $32/mo. or around $1150.
The rent charge on the lease worksheet is $3330!!

I don't see a disclosure of the money factor on that sheet, but that's where the issue is.

mick_jagger2011 · September 2019

kyfdx said:

mick_jagger2011 said:

Michaell said:

mick_jagger2011 said:
So, as the title says, I got this deal from a dealership in the 85224 area, and I had a good idea going in, but after getting the numbers with all the fees and whatnot, I don't know if this is a good lease or not. Could anyone have a look and tell me if it looks okay with a $0 down?

With $0 down, the monthly lease for a 36/12 term is $351.
$350/mo for a $23K car is not a good deal.

And, you'll notice that the header of that box says "purchase option". So, not all of those numbers are valid for a lease, and there are missing numbers that you need to know about.

Ask the dealer for a lease worksheet, and we can evaluate.
Hi, thank you! Here is the lease worksheet:

Something is seriously wrong with the Rent Charge.
Do you have poor credit?

.00089 MF and 59% residual

The rent charge with top tier credit and that money factor is about $32/mo. or around $1150.
The rent charge on the lease worksheet is $3330!!

I don't see a disclosure of the money factor on that sheet, but that's where the issue is.

According to them the MF is 0.0026. I don’t think they are giving me a decent deal and not really disclosing stuff wel.

Michaell · September 2019

mick_jagger2011 said:

kyfdx said:

mick_jagger2011 said:

Michaell said:

mick_jagger2011 said:
So, as the title says, I got this deal from a dealership in the 85224 area, and I had a good idea going in, but after getting the numbers with all the fees and whatnot, I don't know if this is a good lease or not. Could anyone have a look and tell me if it looks okay with a $0 down?

With $0 down, the monthly lease for a 36/12 term is $351.
$350/mo for a $23K car is not a good deal.

And, you'll notice that the header of that box says "purchase option". So, not all of those numbers are valid for a lease, and there are missing numbers that you need to know about.

Ask the dealer for a lease worksheet, and we can evaluate.
Hi, thank you! Here is the lease worksheet:

Something is seriously wrong with the Rent Charge.
Do you have poor credit?

.00089 MF and 59% residual

The rent charge with top tier credit and that money factor is about $32/mo. or around $1150.
The rent charge on the lease worksheet is $3330!!

I don't see a disclosure of the money factor on that sheet, but that's where the issue is.
According to them the MF is 0.0026. I don’t think they are giving me a decent deal and not really disclosing stuff wel.

Ask them what bank they are using.

There is a rational explanation for this - you've just got to ask the right questions to get the information from them.

If they continue to play 'hide the numbers', I'd find another dealer.

kyfdx · September 2019

mick_jagger2011 said:

kyfdx said:

mick_jagger2011 said:

Michaell said:

mick_jagger2011 said:
So, as the title says, I got this deal from a dealership in the 85224 area, and I had a good idea going in, but after getting the numbers with all the fees and whatnot, I don't know if this is a good lease or not. Could anyone have a look and tell me if it looks okay with a $0 down?

With $0 down, the monthly lease for a 36/12 term is $351.
$350/mo for a $23K car is not a good deal.

And, you'll notice that the header of that box says "purchase option". So, not all of those numbers are valid for a lease, and there are missing numbers that you need to know about.

Ask the dealer for a lease worksheet, and we can evaluate.
Hi, thank you! Here is the lease worksheet:

Something is seriously wrong with the Rent Charge.
Do you have poor credit?

.00089 MF and 59% residual

The rent charge with top tier credit and that money factor is about $32/mo. or around $1150.
The rent charge on the lease worksheet is $3330!!

I don't see a disclosure of the money factor on that sheet, but that's where the issue is.
According to them the MF is 0.0026. I don’t think they are giving me a decent deal and not really disclosing stuff wel.

If your credit is good, something is seriously off.

Try another dealer. A reasonable payment will be $60-$70 less than your quote.

If your credit is not good, that is a different story.

lowmoneyfactor · September 2019

@mick_jagger2011 Dealer worksheet numbers are bad; here is a form from a spreadsheet worked out for you based on what you would sign at closing. It may be of some help. You should next ask for a sample regulation M form which you as lessee would sign cause I believe even with the bad numbers the dealership is hiding and/or wrong on stuff.

Especially would like feedback from masters @kyfdx and/or @Michaell on the form: even with the lousy dealer offer the spreadsheet indicated customer would have inception of only $147 not $500?!?

It's off by some pennies here-n-there but believe it to be a solid representation of what the customer would sign....

6.24% interest (mf .0026).

kyfdx · September 2019

lowmoneyfactor said:
@mick_jagger2011 Dealer worksheet numbers are bad; here is a form from a spreadsheet worked out for you based on what you would sign at closing. It may be of some help. You should next ask for a sample regulation M form which you as lessee would sign cause I believe even with the bad numbers the dealership is hiding and/or wrong on stuff.

Especially would like feedback from masters @kyfdx and/or @Michaell on the form: even with the lousy dealer offer the spreadsheet indicated customer would have inception of only $147 not $500?!?

It's off by some pennies here-n-there but believe it to be a solid representation of what the customer would sign....

6.24% interest (mf .0026).

You didn't add the first payment into the amount Due at Signing

lowmoneyfactor · September 2019

kyfdx said:

lowmoneyfactor said:
@mick_jagger2011 Dealer worksheet numbers are bad; here is a form from a spreadsheet worked out for you based on what you would sign at closing. It may be of some help. You should next ask for a sample regulation M form which you as lessee would sign cause I believe even with the bad numbers the dealership is hiding and/or wrong on stuff.

Especially would like feedback from masters @kyfdx and/or @Michaell on the form: even with the lousy dealer offer the spreadsheet indicated customer would have inception of only $147 not $500?!?

It's off by some pennies here-n-there but believe it to be a solid representation of what the customer would sign....

6.24% interest (mf .0026).

You didn't add the first payment into the amount Due at Signing

You're RIGHT @kyfdx.

Thank you for your feedback!

@mick_jagger2011 Jeez, what a bad deal.

I found this deal on a Civic Sport Sedan, but I cannot figure out if it is good with all the fees

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