Thoughts on this 2014 REx lease?

[spinball]

2 years / 10k mile per year
MSRP: $50,700
Residual $31,941 (63%)
Cap cost after all discounts/incentives: $40,053 (21% off MSRP)

They are claiming $495 a month, but I don't have the fee structure and MF yet and their number doesn't include any MSDs. I'm thinking with MSDs and 5.6% WI sales tax it should be $414/mo.

Good/decent/bad?

 

[rajetta]

Hi,
Did you go through the deal?
I think you need to separate the sales price and then apply 5500 as lease incentive (take out the taxes and then apply the rest towards cap cost). 2014 should be at least 15% off.

 

[spinball]

I went with a different car at a different dealer. I've found the discount will depend on where you are. Some dealers won't go past 11% in WI even on 2014s.

I ended up with about 14% off MSRP and 23% off including the lease credit on maxed out $55.5k MSRP (only missing metallic paint option). Lease credit is only $4875 here.

I'm guessing I could have gone past 15% on a BEV. Paid a little more to get all the goodies in the color I like best AND at a local dealer (of only two!). If you don't care about options/colors you can probably do even better, given some time and effort.

 

[rajetta]

Best I got is 16% - have to drive out of state and it has 60 miles (as a demo car).

 

[i3atl]

Best I got is 16% - have to drive out of state and it has 60 miles (as a demo car).

Where are you? And unless you're in one of the few states that doesn't allow it, why not go with Owner's Choice and get the full $7500?

 

[rajetta]

I am in VA - how do you calculate owners choice?