Confused on this Dealerships pricing, Lease Offer, help

[jrhodes87]

SO little background. Few weeks ago I went in to a kia dealership to get some numbers figured out on my trade in plus a GT1 lease. The GT1 AWD was priced at 47k. After haggling and playing the no game, I worked them down to a $699/month lease. This was with no money down, no lease incentive and my trade in which I'm under water on.

Now I've been talking to a sales guy today via email, they are selling a GT AWD for $41,900 WITH $4,800 lease cash. So I'm thinking I'll be able to get this for much cheaper because $699 is out of my budget. I even offer 1k down because I think it's going to be a deal.

The guys gets my vin, some other info, runs the numbers and is giving me figures around $680 with a trade in, 1k down, and $4800 lease cash!?!?!

I'm saying HOW THE F are you getting me only $19/month less when essentially I'm looking to lease a car that is close to 9k cheaper then the GT1 (after the lease incentive)

Someone help me understand, because I feel the guy is off or doesn't know what he's doing at his job. I was expecting I'd be able to get this at least for 500/month, which would be more in my budget. Little confused and annoyed. May be I'm totally in the wrong for thinking what I was thinking.

 

[Mike_TX]

Different residuals, or interest rates for the different models, maybe?

When I get in this position, I just politely tell them my number I have to have, ask them to call me if they can work it out, and tell them I have an appointment and I'll wait for their call. They can either do it or not, and usually they figure out some way to get to my number. As long as they have you there you're at their mercy, so the best strategy is to leave.

 

[jrhodes87]

Maybe so, I just don't know. GT AWD vs GT1 AWD with drivewise package, It was panthera gray so I'm wondering if they were playing hardball with it because they know it's not common color right now.

He eventually came back and said 630, that's after talking his boss into bumping my trade in to 22k instead of 21k. I said the other dealership priced my car at 22k so really this does nothing. I just can't wrap my head around it I guess. 10k difference and you can't work me down to 500/month

 

[Chris]

The only way you will know is to ask for all the numbers.
Sale price, discounts, money factor, resiual, fees, TTL, etc. Salesman bank on the fact that leases confuse people and they will just say ok. Get all the numbers and put them into a lease calculator like leasehackr.

 

[jrhodes87]

The only way you will know is to ask for all the numbers.
Sale price, discounts, money factor, resiual, fees, TTL, etc. Salesman bank on the fact that leases confuse people and they will just say ok. Get all the numbers and put them into a lease calculator like leasehackr.

Yeah I suppose I could have done that. The only thing I'm thinking is the 4800 was for a certain amount of months where as the first dealership with the GT1 was giving me more months financing. Not sure. Now I'm wanting to email him back for the numbers but at the same time want to be done with it for now.

 

[iclicku]

Yeah I suppose I could have done that. The only thing I'm thinking is the 4800 was for a certain amount of months where as the first dealership with the GT1 was giving me more months financing. Not sure. Now I'm wanting to email him back for the numbers but at the same time want to be done with it for now.

Make sure you don't confuse the incentives on leasing vs financing. The lease rebates won't apply to financing.

 

[jrhodes87]

Make sure you don't confuse the incentives on leasing vs financing. The lease rebates won't apply to financing.

I was under the impression I understood them. I had him break it down for me. I said so 41,900 with lease cash puts the car at 37100. He said yes. So I'm leasing a car at 37,100. That's how I was understanding it.

 

[iclicku]

I was under the impression I understood them. I had him break it down for me. I said so 41,900 with lease cash puts the car at 37100. He said yes. So I'm leasing a car at 37,100. That's how I was understanding it.

I think the best way for the forum or I to help you is to get the exact numbers. That's the only way leases can be understood. Every lease can be so different based on so many variables. If you haven't gotten a breakdown of the numbers then I can't be of much more help. There is a Lease vs. Finance discussion where I uploaded the exact numbers I negotiated.

 

[jrhodes87]

I think the best way for the forum or I to help you is to get the exact numbers. That's the only way leases can be understood. Every lease can be so different based on so many variables. If you haven't gotten a breakdown of the numbers then I can't be of much more help. There is a Lease vs. Finance discussion where I uploaded the exact numbers I negotiated.

Ok I will get numbers next dealership I speak to, I appreciate the help. I'm going to leave this dealership alone for the day. Don't want to seem desperate.

 

[jrhodes87]

I think the best way for the forum or I to help you is to get the exact numbers. That's the only way leases can be understood. Every lease can be so different based on so many variables. If you haven't gotten a breakdown of the numbers then I can't be of much more help. There is a Lease vs. Finance discussion where I uploaded the exact numbers I negotiated.

bTw what are all the numbers I should ask for?

 

[iclicku]

For your next attempt you need to ask for these numbers

Model/trim lvl
MSRP
Sales price
Residual %
Money Factor [mf]
Doc fee
Tax rate
Acquisition fee

 

[iclicku]

Just ask for their best offer and then walk out. We can run the numbers and see what sort of deal you are being offered.

 

[jrhodes87]

For your next attempt you need to ask for these numbers

Model/trim lvl
MSRP
Sales price
Residual %
Money Factor [mf]
Doc fee
Tax rate
Acquisition fee

Ok thank you so much, I'm feeling better about these next attempts haha

 

[iclicku]

Remember you have the power. You got the money.

 

[jrhodes87]

Remember you have the power. You got the money.

totally true.

 

[jrhodes87]

I do believe my current place of residency is not doing my any favors. Cook County sales tax is astronomical, and I think IL rolls it into the overall msrp. I am moving to TN in a few months, better to wait until then I suppose.

 

[STNGRNV]

Also, don't play the "I want my monthly payment at ______" game. They'll do all kinds of shenanigans. Have an overall number for the car that you are willing to pay.

 

[jrhodes87]

Also, don't play the "I want my monthly payment at ______" game. They'll do all kinds of shenanigans. Have an overall number for the car that you are willing to pay.

Yes I am not doing that, read that's a no no lol

 

[jrhodes87]

Ok some "better" news. Dealership in Ohio offered with my trade in 12k miles/year on 36months for $569. With 1k down.

Now this does not include my Cook County sales tax, so I'm assuming this is going to push it to outside my budget. Having mentioned earlier that I am moving to TN within a few months I would be wiser to wait until I am moved, that way I don't have to re title it, etc..

But this gives me hope since the monthly was closer to what I want.

 

[Dave Miller]

Also, don't play the "I want my monthly payment at ______" game. They'll do all kinds of shenanigans. Have an overall number for the car that you are willing to pay.

Eh, I'll be chastised for this because I'm a dealer, but on a lease there's nothing wrong with letting them know a monthly payment you can afford as long as you do your math and find a reasonable payment to commit to. Either way the car is being discounted, and you'll see the final sales price before you sign any official paperwork.

If someone commits to a certain payment and won't budge, there's a much higher chance my manager will discount the car to a loss or extremely slim profit than someone coming in and offering a low out-the-door offer.

Feel free to let me know if I'm wrong - I really am just trying to be open and honest here.