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      07-13-2019, 07:57 PM   #23
edb4164
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I end up getting$899 with $899 down. Thats $8,250 in rebates and $10,300 discount off msrp. On a $89,355 msrp m4 2019. I think i got a pretty good deal
Can you please provide details?

So you got the car at $70,000 selling price? If so, your payment would be in the $500-$600 range if the residual is 56%.
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      07-13-2019, 10:29 PM   #24
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Good deal?
$15,000 down? Am I reading that correctly?
Refundable Security deposit: $4550
+Down payment: $ 2523
=Cash down is $7073.48
+Dealer rebate: $7500

Total down: $14,573.48
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      07-13-2019, 10:40 PM   #25
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Quote:
Originally Posted by PilotPri View Post
Refundable Security deposit: $4550
+Down payment: $ 2523
=Cash down is $7073.48
+Dealer rebate: $7500

Total down: $14,573.48
So they basically didnt give you any discount on the car other than the rebates. If its like that you could have done a better deal on any other dealership. I got my car from a dealership in Ct and I got $8,250 in rebates plus $10,300 discount of the msrp and my payment was $838 before tax and I only put $899 down. Mf .00175.

Last edited by turboso; 07-15-2019 at 02:48 PM.. Reason: Wrong spelling
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      07-13-2019, 10:43 PM   #26
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Quote:
Originally Posted by edb4164 View Post
Can you please provide details?

So you got the car at $70,000 selling price? If so, your payment would be in the $500-$600 range if the residual is 56%.
Residual 57% and $73,000 with fees. Remember you have to add the rent charges that are around $7,200, so that around $80k less $50,932 residual and that makes the payment around $838. Thats my payment
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      07-14-2019, 09:44 AM   #27
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Quote:
Originally Posted by PilotPri View Post
Refundable Security deposit: $4550
+Down payment: $ 2523
=Cash down is $7073.48
+Dealer rebate: $7500

Total down: $14,573.48
If your security deposit is refundable, then it is not a cap cost reduction. When they give you that back, itís like it never came off the price of the car so they would be losing money since it was factored in (off MSRP) to determine your payment. Maybe Iím missing something. Unless these are MSDs (multiple security deposits) which just decrease the Money Factor.
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      07-14-2019, 11:55 AM   #28
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Quote:
Originally Posted by edb4164 View Post
Quote:
Originally Posted by PilotPri View Post
Refundable Security deposit: $4550
+Down payment: $ 2523
=Cash down is $7073.48
+Dealer rebate: $7500

Total down: $14,573.48
If your security deposit is refundable, then it is not a cap cost reduction. When they give you that back, it’s like it never came off the price of the car so they would be losing money since it was factored in (off MSRP) to determine your payment. Maybe I’m missing something. Unless these are MSDs (multiple security deposits) which just decrease the Money Factor.
Ya the security deposit is strange. I've leased cars in the past and never paid a deposit before nor ever heard of one til now.
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      07-14-2019, 09:38 PM   #29
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Quote:
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Ya the security deposit is strange. I've leased cars in the past and never paid a deposit before nor ever heard of one til now.
I would get details on that security deposit.

I think the next thing to do is ask the dealer the *actual* final selling price of the car and also the money factor rate they are using. Then, please post back the figures here and we can determine the strength of the deal.
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      07-15-2019, 12:33 AM   #30
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Quote:
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Quote:
Originally Posted by PilotPri View Post
Ya the security deposit is strange. I've leased cars in the past and never paid a deposit before nor ever heard of one til now.
I would get details on that security deposit.

I think the next thing to do is ask the dealer the *actual* final selling price of the car and also the money factor rate they are using. Then, please post back the figures here and we can determine the strength of the deal.
Will do that in the morning ! Thanks
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