Is the current $5200 lease incentive enough to make the immediate buyout worth doing?

[psperl]

I'm super close to pulling the trigger on a 2022 AWD GT2. From what I can gather, The math works as follows:

Outright purchase/finance = $1500 incentive, applied AFTER tax
24M Lease = $5200, I'm assuming also after tax

So there's a $3700 difference, but then you have to subtract the $300 buyout option and $650 acquisition fee. So now we're at $2750.

Then we need to make at least one payment, right? Is all that money lost or only like 90% of it?

Anyway, is this roughly right? At best I could save $2750, assuming everything went PERFECTLY, which rarely happens, or are there extra costs that eat into that $2750? I know this forum is filled with buyout nightmare stories, but $2750 is just enough to make me consider it.

From some chatter on here, I got the impression that ~$4000 incentive "wasn't worth it," which makes sense as by my math it would only be $1500 savings if done perfectly.

Can anyone give me their understanding of the "worth it" point? Thanks!

 

[AYip31]

I did a lease buyout.
But remember. Depending on which state your in, taxes are done differently and depending if you need to visit a dealership to buyout.
My lease buyout went perfectly, didn’t even have to make one lease payment.
But $5,200 lease rebate might not be enough to justify the headaches and/or if anything goes sideways in the process.
My best guess would be at lease $6,500 lease rebate to be worth it.
When I did my leases buyout on a 2020 Base GT (V6) my lease rebate was $7,100 and got 10% off of dealer discount.

 

[psperl]

I did a lease buyout.
But remember. Depending on which state your in, taxes are done differently and depending if you need to visit a dealership to buyout.
My lease buyout went perfectly, didn’t even have to make one lease payment.
But $5,200 lease rebate might not be enough to justify the headaches and/or if anything goes sideways in the process.
My best guess would be at lease $6,500 lease rebate to be worth it.
When I did my leases buyout on a 2020 Base GT (V6) my lease rebate was $7,100 and got 10% off of dealer discount.

Thank you! I will look into the rules where I live.

The market is rough these days. The best I've got so far is one dealer that offered 3%

 

[AYip31]

Thank you! I will look into the rules where I live.

The market is rough these days. The best I've got so far is one dealer that offered 3%

3%!! Wow. Yea, current used and new car market sucks for buyers.
I would wait to buy if your able to wait.

 

[psperl]

If you read this thread, it looks like 3% is better than average right now, which is sad. I can wait a few months, but eventually I'll need to buy a car urgently. Given that some people think the chip shortage won't improve until 2023, I'm inclined to buy a car now while I have some flexibility.

 

[AYip31]

If you read this thread, it looks like 3% is better than average right now, which is sad. I can wait a few months, but eventually I'll need to buy a car urgently. Given that some people think the chip shortage won't improve until 2023, I'm inclined to buy a car now while I have some flexibility.

Good luck in your hunt!

 

[Ruturaj]

I got 4k off and 6.5k lease on mine and my gf got 5.5k off and 9.9k in lease incentive. So lease buyout was worth it to us. If you are going to pay cash then it's worth it, if you are gettin getting a loan then low interest might be worth going to buy it directly. What state are you in? I know NY double charges lease and buyout. NC did not.

 

[zetatai]

I got 4k off and 6.5k lease on mine and my gf got 5.5k off and 9.9k in lease incentive. So lease buyout was worth it to us. If you are going to pay cash then it's worth it, if you are gettin getting a loan then low interest might be worth going to buy it directly. What state are you in? I know NY double charges lease and buyout. NC did not.

When (year/month) did you & your gf get those deals?

 

[Ruturaj]

2019 model year. I got mine in December 2018 and she got hers in July 2019.

 

[zetatai]

2019 model year. I got mine in December 2018 and she got hers in July 2019.

That's what I thought ... they aren't making offers like that these days!