Leasing in GA (continuation from other thread)

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blackbeasst

Well-known member
Joined
Jun 2, 2014
Messages
143
Location
GA
figured i'll start my own thread and not clog up the other posters any more (sorry OP!)

ok so here's what they quoted. i didn't haggle or anything. just wanted to see what they started with. couple interesting things. i basically told them im a no go now cause i drive 100 miles a day and i can't install a 240 at my current location only to have it pulled and moved to the new house in august. he then threw out "what if we take care of all that for you?" i said if you pay for the level 2, install at the old house for a month or so, pay to have it pulled, and then pay to install at the new house then thats a start.

IMAG0329_zpsc7d9a6fd.jpg


0451ebe8-185d-4de0-9777-53dc22ea300a_zpsfbd1933d.jpg
 
here's the breakdown of the $11k rebate:

"For the lease option, you have $3500 in rebates and the $7500 tax credit is absorbed as well by the leasing companies bringing the total to $11,000 off. If you were to purchase the Focus, you would get the $6,000 off in rebates and you could file for the $7,500 tax credit as long as you had that much in tax liability so that way it is not going to waste. Let me know if you have any other questions. Thanks again!"
 
also, he said if i do the 10,500 lease that as long as at any time i purchase it or trade it in that mileage doesn't matter. that only matters if i drop the keys off and say im done. anyone know what the $/mile over is?
 
It seems too high.

10.5 K mile lease, 36 month zero driveaway should be around $270 before sales tax

My own lease is 19.5K miles, 36 month, zero driveaway, $379 including prox 9% tax (prox $348 before tax) and that was last September when prices were higher than now.
 
michael said:
It seems too high.

10.5 K mile lease, 36 month zero driveaway should be around $270 before sales tax

My own lease is 19.5K miles, 36 month, zero driveaway, $379 including prox 9% tax (prox $348 before tax) and that was last September when prices were higher than now.

oh i agree. that was just a starting point. i've never leased before, so how does credit history play in to the consideration?
 
blackbeasst said:
michael said:
It seems too high.

10.5 K mile lease, 36 month zero driveaway should be around $270 before sales tax

My own lease is 19.5K miles, 36 month, zero driveaway, $379 including prox 9% tax (prox $348 before tax) and that was last September when prices were higher than now.

oh i agree. that was just a starting point. i've never leased before, so how does credit history play in to the consideration?
I believe that a credit score of 700-720+ is required for the best lease rates.
 
hybridbear said:
I believe that a credit score of 700-720+ is required for the best lease rates.

yeah i've had a couple snafus in the past. but i think im hanging around the 675 range.

what do you guys think i should counter offer with? while trying to get a free level 2 and free install as well :)
 
blackbeasst said:
hybridbear said:
I believe that a credit score of 700-720+ is required for the best lease rates.
what do you guys think i should counter offer with? while trying to get a free level 2 and free install as well :)
I don't know that requesting that will get you the best deal. You can probably shop around and find a Level 2 EVSE and installation cheaper than the dealer could. They would just build that in to your price.

You might want to give them a heads up on your credit score. A lot of dealers will give quotes assuming that you qualify for the highest credit score tier of lease financing. If you don't then you might be in for an unexpected surprise when they run a credit check and find out that you don't qualify.
 
i made it very clear that the evse and install would be agreed upon AFTER we come to terms on a price. worse case i say no thanks, buy one from HD myself and get cash back on a credit card!

about to email the sales guy and tell him that the monthly payment and total balance is too much and that the residual value is too high and see what he comes back with.
 
blackbeasst said:
about to email the sales guy and tell him that the monthly payment and total balance is too much and that the residual value is too high and see what he comes back with.
What is the residual? I'm not seeing it in the pics you posted.
 
hybridbear said:
blackbeasst said:
about to email the sales guy and tell him that the monthly payment and total balance is too much and that the residual value is too high and see what he comes back with.
What is the residual? I'm not seeing it in the pics you posted.

well based on the 10,500 mile term:

388.92*36 =14,001.92

unless im mistaken on how residual value works,

29,180.98-14,001.92= 15,179.06.....or about 47%
 
blackbeasst said:
hybridbear said:
blackbeasst said:
about to email the sales guy and tell him that the monthly payment and total balance is too much and that the residual value is too high and see what he comes back with.
What is the residual? I'm not seeing it in the pics you posted.

well based on the 10,500 mile term:

388.92*36 =14,001.92

unless im mistaken on how residual value works,

29,180.98-14,001.92= 15,179.06.....or about 47%
I believe that part of your payment is the "rent charge". Payments are calculated by taking the base capitalized cost minus the residual plus the rent charge plus TTL & dealer fees divided by the lease term. Your calculated residual value based on just payments doesn't account for the rent charge or TTL & dealer fees which are also part of the payment.
 
i was a little off in the residual value according to him, he said $15,9xx is the residual after 36 months.

i basically told him i need to be in the $300-$320/month out the door with the same $500 down and same 36 months.
 
Wait a sec: on a lease you want a high residual. That makes the payment smaller.

In a lease you are paying for the difference between the "purchase price" and the residual. Thus a higher residual means a lower monthly payment. By telling the dealer the "residual is too high" you are asking for a higher payment.
 
jmueller065 said:
Wait a sec: on a lease you want a high residual. That makes the payment smaller.

In a lease you are paying for the difference between the "purchase price" and the residual. Thus a higher residual means a lower monthly payment. By telling the dealer the "residual is too high" you are asking for a higher payment.

i want both :)

worse case they can't do anything for me. no harm, no foul. i still have a 42mpg car that works just fine. my wife will just have to wait to get her hands on it from me!
 
I live in ATL, committed to a lease at the end of March and about to receive my FFE next week. I think I could have walked to Michigan and built it faster myself. Which dealer you looking at? I ran from one dealer, talked to a couple over the phone/email, and very happy where I landed. I put money down (about $3,500) to lower my monthly payments to about $204/month. 36 month lease, 13,500 miles/year, leather seats. Can't say enough nice things about Mike Gallegra at Mall of GA Ford. Tell him "Hi" from Blue Candy FFE Mike. He will treat you right.
 
Electric Mike said:
I live in ATL, committed to a lease at the end of March and about to receive my FFE next week. I think I could have walked to Michigan and built it faster myself. Which dealer you looking at? I ran from one dealer, talked to a couple over the phone/email, and very happy where I landed. I put money down (about $3,500) to lower my monthly payments to about $204/month. 36 month lease, 13,500 miles/year, leather seats. Can't say enough nice things about Mike Gallegra at Mall of GA Ford. Tell him "Hi" from Blue Candy FFE Mike. He will treat you right.

athens ford.

yeah MOGF has 3 electrics. and its pretty close to my work. i'll try and shoot mike an email over there and see what he comes up with.

of course athens ford said that the reason they only have 1 in stock is because they have the lowest prices in GA. so much so that dealers have offered to buy the one they have for more then sticker :roll:
 
blackbeasst said:
jmueller065 said:
Wait a sec: on a lease you want a high residual. That makes the payment smaller.

In a lease you are paying for the difference between the "purchase price" and the residual. Thus a higher residual means a lower monthly payment. By telling the dealer the "residual is too high" you are asking for a higher payment.

i want both. low payment and low residual :)

worse case they can't do anything for me. no harm, no foul. i still have a 42mpg car that works just fine. my wife will just have to wait to get her hands on it from me!
Why do you want a low residual? Are you planning to buy it out at the end of the lease?
 
Don't be fooled or pressured by their tactics. Sounds very similar to my experience. What's your first name and I'll give Mike a heads up. Of course, if I can be or further assistance, let me know.
 
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