[Spiff7]

Anyone have any input on whether this is a good deal or not:

MSRP approx. $65,495
Was told 5% off.
Then two rebates, each $1k; total $2k
Approximate selling price/cap cost after rebates $60,500
Fees $925
Money factor .00134
10k miles a year for 3 years
NY taxes

Due at signing $1,954.36
Monthly payment $724.99

Thanks for looking and commenting.

[Spiff7]

My SA just contacted me out of the blue and said the lease is now $708.12 per month...now is this a good deal?

[Slickz]

Good news is the dealer is not marking up the money factor. Bad news is this means they are making lots of profit in the selling price.

The bare minimum should should be pushing for is 7% off MSRP. Before any credits/incentives. This is a rough way to get down to the dealers invoice cost. The invoice cost is a complete scam these days as dealers still make multiple thousands of $$ profit by selling a car for their "invoice cost". Dealers will yell and get foul mouthed with you if you try to tell them differently though in order to keep this lie alive.

The only way to get the best deal in your market is by making multiple dealers compete for your business. If you only work with one dealer you have no negotiating power.

[Spiff7]

How is gross capitalized cost of $59,500? Monthly payment of $699.88.

[Slickz]

Do you know the residual value, money factor, and capitalized cost the dealer is using? If you can provide that I will be happy to verify the lease payment calculation to see if it is in line. As a baseline you should shoot for minimum 7% off MSRP before any incentives/credits to have a decent deal.

[Spiff7]

Originally Posted by Slickz

Do you know the residual value, money factor, and capitalized cost the dealer is using? If you can provide that I will be happy to verify the lease payment calculation to see if it is in line. As a baseline you should shoot for minimum 7% off MSRP before any incentives/credits to have a decent deal.

Gross cap cost $59,500...then says $62,275.81

Cap cost reduction $1,925

Adjusted cap cost $60,350.81

Residual $40,606.91

Money factor is in original post

Thanks