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Discussion Starter · #1 · (Edited)
Hi All. I'm new here. Could I please get your comments on the following deal?

Touring L Plus MSRP: $40,880
Paying taxes and fees upfront.
$0 Down - No Cash Down on the lease

$359 Monthly Payment - Not Including Tax - through US BANK at 3.5%

This was negotiated down from $398 by lowering the sale price. I think I'm gonna go for it but wanted to double check here first. Realistically I don't think I can do any better without extreme additional aggregation and delay.

Any input would be greatly appreciated. Thank you Very much.

SRF
 

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Seems cheap... but then again I've never leased before so I don't know much about the topic... How many miles per year are you allotted? Are you planning to buy the car after the lease or give it back?

Not sure what taxes & fees are in your state that you will have to pay up front... but don't forget to divide that number by 36 and add it to your monthly payment to get your true cost of the lease.
 

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Looks like a pretty solid deal to me! Messing around with a lease calculator suggests a capitalized cost somewhere in the 31,000-32,000 range, which would be ~ 20% off MSRP or better. I assume there is decent IDF lease cash for using USBank as part of that. The 52% residual also beats Chrysler Capital, even if the interest rate is a little higher.

I haven't seen too many advertised deals under $400/mo, the most attractive one I've seen is a dealer offering a Touring L for 325/mo with 995 down, 36 months/10k miles.
 

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Discussion Starter · #8 ·
Both your comments are very helpful. I'm in NY and the total taxes per month would be $47 per month bringing the payment with tax to $406 per month. In my county the sales tax is .08625 but we also have to pay tax on all incentive money so the total tax is $1,700. This plus the first payment and DMV fees brings it to $2,500 down. The lease is for 10k miles per year and I don't anticipate buying it at the end. My problem is I simply don't trust anyone that works in a dealer and that makes it very difficult for me to pull the trigger even when I'm given fair deal. Thanks very much for your input. Any additional comments from you both or others would be appreciated. Thank you.
 

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I can't say that I'm familiar with how NY taxes work, but yikes. They tax you on the entire amount of lease payments (and incentives) up front and then you have to pay monthly tax too?!
 

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2021 Pacifica Limited S AWD - Black. Premium and Safety Sphere - UConnect Theater - 20”
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Both your comments are very helpful. I'm in NY and the total taxes per month would be $47 per month bringing the payment with tax to $406 per month. In my county the sales tax is .08625 but we also have to pay tax on all incentive money so the total tax is $1,700. This plus the first payment and DMV fees brings it to $2,500 down. The lease is for 10k miles per year and I don't anticipate buying it at the end. My problem is I simply don't trust anyone that works in a dealer and that makes it very difficult for me to pull the trigger even when I'm given fair deal. Thanks very much for your input. Any additional comments from you both or others would be appreciated. Thank you.
Can you call or visit a couple of other dealers? If you don't trust this one maybe you can find a better one. It will also get you a few different quotes so you can confirm if you actually have a good deal.
 

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I would negotiate dealer cost at a minimum. Don't focus on MSRP. Also, I vaguely remember the Sam's club rebate worked for leases.
 

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Discussion Starter · #18 ·
UPDATE REPORT: My dealer say both Sams Club & USAA coupons can only be used on a purchase even if a third party leasing company is used. I really didn't argue with him because my purchase price on the lease is close to 20% off MSRP already. I haven't signed anything yet because the dealer is expecting four of my indentical color & build combinations any day now. The snow here delayed the delivery. I'm also waiting for another dealer to beat the no money down 36 month lease payment of $359/MO (no tax) on an identical Pacifica he also has coming in. Reminder: L Plus with hands free doors and NAV 8.4 - MSRP 40,880 - paying all taxes upfront. With tax the payment would be $406.

If he sticks to these numbers should I pull the trigger? I assume yes but a final blessing from one or two of you would be great.

Thank you all for your help and advice. Much appreciated.

Steve
 

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I have never leased a vehicle... and from what I understand, the only people that should be leasing cars are those that can write the expense off as a business expense. Otherwise, you're just doing a glorified rental. At the end of it, you do not own it. You have no equity. All you get is an option to purchase the vehicle for a price that (when added to the amount you spent throughout the lease) is not to your advantage. Especially if you go over your mileage.

It seems like there's an allure to leasing in that one might be able to get-into a vehicle above what they could afford to buy.

I know friends that lease through their work - they get to write-off the payments... they use the vehicle for sales calls and regional travel. That's understandable.

I have another friend and one family member that leased and didn't fully understand it... regretted it in the end.

I am not posting this to deter YOU from leasing... I am genuinely curious to what the advantages to a typical consumer are when leasing. Other than driving something outside one's price-range, I am legitimately curious of any other advantages... (again, NOT snark or criticism - really would like to know)
 

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2021 Pacifica Limited S AWD - Black. Premium and Safety Sphere - UConnect Theater - 20”
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I have never leased a vehicle... and from what I understand, the only people that should be leasing cars are those that can write the expense off as a business expense. Otherwise, you're just doing a glorified rental. At the end of it, you do not own it. You have no equity. All you get is an option to purchase the vehicle for a price that (when added to the amount you spent throughout the lease) is not to your advantage. Especially if you go over your mileage.

It seems like there's an allure to leasing in that one might be able to get-into a vehicle above what they could afford to buy.

I know friends that lease through their work - they get to write-off the payments... they use the vehicle for sales calls and regional travel. That's understandable.

I have another friend and one family member that leased and didn't fully understand it... regretted it in the end.

I am not posting this to deter YOU from leasing... I am genuinely curious to what the advantages to a typical consumer are when leasing. Other than driving something outside one's price-range, I am legitimately curious of any other advantages... (again, NOT snark or criticism - really would like to know)
One big advantage to lease is the sales tax savings. Most states you only pay based on what your payment is, not the full purchase price. This can save over 50% in sales tax.


I've worked out the cost both ways (buying vs leasing) on numorous vehicles and buying usually only wins when you keep the vehicle long term (5 years or more). Of course keeping a car longer is the most economical but a lot of people want something new every 2-4 years. For those people leasing will actually cost less.
 
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