Have you visited Leasehackr Forum recently? If not, you might be surprised to find a treasure trove of knowledge there, as well as lively discussion among leasehacking devotees. Here's a particularly popular thread that will surely get you excited about your next car: Trophy Garage [Photos]
Note these deals represent the best of the best and may be attributed to special circumstances, such as incentives, dealer bonuses, timing, loaner availability, and the like. But they serve as inspiration and show the possibilities when all the stars align!
Photo credit: inter101 2017 Hyundai Santa Fe SE AWD; MSRP $33,895, $189 before tax, 24/10K 2016 Dodge Charger Hellcat; MSRP $7,1330, $546 before tax, 36/10K 2017 Volvo XC90 T5 R-Design; MSRP $57,390, $373 before tax, 24/7.5K
Photo credit: OKJ BMW 328d demo; MSRP $56,870, $321/month BMW 535i loaner; MSRP $70,000+, $450/month
Our data is showing that transaction prices on RX 350, a popular midsize luxury crossover SUV from Lexus, are trending down. Combined with the strong residual values you'd expect of the brand, and a low money factor, and you could be driving this prestigious-looking SUV for way less than you'd think. (The German equivalents will cost at least $200+ more a month.)
Here's what you need to know about leasing this staple of upper-middle-class suburbia.
Lexus RX F SPORT (source: pressroom.lexus.com)
Current Lease Program - Valid Through October 31, 2017
The cost of leasing a particular car is determined by its lease program, which is set by the manufacturer, and the selling price, which is set by the dealer. Here is the current lease program for a 2017 RX 350 through Lexus Financial Services:
2017 RX 350 Lease Program - October 2017
Residual Value
Money Factor
24 Months
64%
.00055
30 Months
61%
.00055
36 Months
57%
.00055
These residuals assume 10,000 miles per year. Deduct 1% for 12,000 miles per year. Deduct 3% for 15,000 miles per year. The posted money factor (MF) rate assumes top tier credit. Below are the available incentives for 2017 RX 350.
Current owners of Lexus vehicles affected by the Takata airbag recall (Phase I and Phase II) are eligible for the additional $1,500 Lexus loyalty incentive. Recent college graduates (within two years) and soon-to-be graduates (within the next six months) are eligible for the $1,000 graduate incentive.
Selling Price
A lightly-optioned 2017 Lexus RX 350 FWD has an MSRP of $45,154. Here in Southern California, the average selling price is approximately 6% off MSRP. We would target a selling price of $40,000 (11% off MSRP), which represents an excellent price that most internet sales departments in the region should honor, before incentives.
Putting It Together
Use the lease calculator below to customize your own inputs, such as MSRP, selling price, and incentives. Every dealer sets its own selling price, depending on factors like inventory and demand. Here's a sample deal of a 2017 RX 350 FWD in Southern California assuming 11% off MSRP, excellent credit, 10,000 miles per year, and six Multiple Security Deposits (MSDs).
NEGOTIABLE
% off MSRP
APR: %
Enroll in Mercedes-Benz Autopay to lower the MF by 0.00010
GM One-pay Lease: Pay everyting upfront to lower the MF by 0.00042 (24 mos.) or by 0.00073 (36 mos.).
GM Acquisition Waiver: waive the acquisition fee by raising the MF by 0.00055.
APR: %
I want to pay my acquisition fee upfront.
CONFIGURABLE
NON-CONFIGURABLE
%
Residual (%) at miles/yr
%
Tax is levied on monthly lease payment (most states).
Tax is levied on sales price (e.g. VA, GA).
Tax is levied on total lease payment (e.g. NY, NJ, MN).
1st month payment: Lease payment: Down payment: Registration and doc fee: Tax on cap cost reduction and fees: Acquisition fee: Total Tax: $350
Share your numbers.
We've been tracking deals on Bolt EV, the world's first affordable electric vehicle with over 200 miles of range, since deliveries began nearly a year ago. This month, a number of factors (a strong residual, low money factor, and the availability of incentives) has conspired to make Bolt EV an especially great lease — more so than ever before.
We reached out to two highly-regarded Chevy sales associates to ask for their very best deal. Tricia and Phil, both of whom frequent Leasehackr Forum, serve Southern California and Northern California respectively. Our forum members love their transparency and knowledge. Leasing a car through them is a simple, painless affair with no surprises. Schedule an appointment and you'll be out driving in no time.
Here's how much it costs to lease a Bolt EV in California.
Drive this whisper-quiet, rapid-accelerating, zero-emissions superhero for less than you think (source: media.gm.com)
Southern California (Buena Park)
Prices below include 7.75% Orange County sales tax, DMV license and registration, and all required fees:
Valid through October 31, 2017, while supplies last
Model
MSRP
Monthly payment with $3,650 due at signing (net $0 after rebates)*
Monthly payment with $0 due at signing
2017 Bolt EV LT w/ DC Fast Charging
$38,245
$138/month
$245/month
2017 Bolt EV Premier w/ DC Fast Charging and Driver Confidence II
**Costco Executive members qualify for a $700 cash card; Costco Gold Star and Business members qualify for a $300 cash card. Must be current Costco member as of October 2, 2017 to qualify for cash card. Existing Costco members may upgrade to a Costco Executive membership for the higher-valued cash card. Additionally, add $18 to the monthly payment above for non-members.
Adjustments:
Prices above assume 36 month lease @ 10,000 miles per year. Add $12/month to above for 12,000 miles per year. Add $36/month to above for 15,000 miles per year.
Must be in a household that currently leases a car (GM or non-GM). Otherwise, add $15/month to above.
Assumes top tier credit. Exact pricing may vary depending on your vehicle configuration, credit tier, and sales tax rate.
To grab this no-hassle deal in Southern California, contact Tricia directly at twohler@premierautomotive.com or via SMS at 909-781-3640. More configurations and options are available.
2017 Bolt EV Premier interior (source: media.gm.com)
Northern California (San Jose)
Prices below include 9.25% San Jose sales tax, DMV license and registration, and all required fees:
Valid through October 31, 2017, while supplies last
Model
MSRP
Monthly payment with $3,700 due at signing (net $0 after rebates)*
Monthly payment with $0 due at signing
2017 Bolt EV LT w/ DC Fast Charging
$38,245
$166/month
$272/month
2017 Bolt EV Premier w/ DC Fast Charging and Driver Confidence II
**Costco Executive members qualify for a $700 cash card; Costco Gold Star and Business members qualify for a $300 cash card. Must be current Costco member as of October 2, 2017 to qualify for cash card. Existing Costco members may upgrade to a Costco Executive membership for the higher-valued cash card. Additionally, add $18 to the monthly payment above for non-members.
Adjustments:
Prices above assume 36 month lease @ 10,000 miles per year. Add $12/month to above for 12,000 miles per year. Add $36/month to above for 15,000 miles per year.
Must be in a household that currently leases a car (GM or non-GM). Otherwise, add $15/month to above.
Assumes top tier credit. Exact pricing may vary depending on your vehicle configuration, credit tier, and sales tax rate.
To grab this no-hassle deal in Northern California, contact Phil directly at PhilGileno@gmail.com or 415-596-6262. More configurations and options are available.
Leasehackr reached out to the parties above and received compensation for this post.
If you're in Southern California, now's the chance to get an additional $1,000 credit towards your next BMW lease or purchase. Simply attend one of BMW's free performance driving events held in the Southland from November 3 to November 12, 2017. Spaces are limited, so register before they run out! (If there are no spots left, perhaps you can show up on standby—but no guarantees.)
Spend your weekend under the sun in an asphalt parking lot! (Image source: bmwusa.com)
Here's the fine print:
Offer valid to registered attendees or any family member within the household.
Most 2017 and 2018 models eligible, except for the i8.
Must take delivery by December 31, 2017.
Offer only valid at the sponsoring BMW dealership (see below).
Offer valid on final negotiated price and may be combined with select offers.
Offer may not be applied to prior purchases or previously ordered vehicles.
BMW NA Company vehicles, retired AMP vehicles, retired Extended Test Drive vehicles, Center Employee Lease vehicles, European Delivery vehicles, USAA, Daily Rentals, and EPP do not qualify.
Offer cannot be used in conjunction with any other driving event offer, Drive for Team USA, Ultimate Driving Experience, Golf Cup Offer, USAA Military Program or any Event related or closing / conquest cash offers.
Ford's Flex is a bit long in the tooth, but even to this day, it remains a compelling option for those wanting a practical family hauler. Few crossovers can match the room of its spacious third row and cargo hold, and Flex's styling is certainly more interesting than your average minivan's. Best of all, Flex is a competitive lease right now. Here's what you need to know.
2018 Ford Flex Limited (source: media.ford.com)
Current Lease Program - Valid Through November 30, 2017
The cost of leasing a particular car is determined by its lease program, which is set by the manufacturer, and the selling price, which is set by the dealer. Here is the current lease program for 2018 Flex through Ford Credit:
2018 Flex - November 2017 Program
Model
36-Month Residual
Money Factor
SEL (FWD or AWD)
55%
.00031 (0.75% APR)
Limited (FWD or AWD)
52%
.00010 (0.25% APR)
These residuals assume 10,500 miles per year. Deduct 1% for 12,000 miles per year. Deduct 3% for 15,000 miles per year. The posted money factor (MF) rate assumes top tier credit. Below are the available incentives in California courtesy of Ford. Incentives may vary slightly by region.
2018 Flex - Ford Incentives
Incentive
Availability
Amount
RCL Customer Cash
All
$3,500
Military/First Responder Cash
Targeted
$1,000
Grad Bonus
Targeted
$500
Farm Bureau Offer
Targeted
$500
Negotiate A Selling Price
The mid-level 2018 Flex SEL has an MSRP of $33,895. Here in Southern California, the average selling price is approximately 7% off MSRP. We would target a selling price of $30,900 (9% off MSRP) before incentives, which represents an excellent price that some internet sales departments in the region should honor.
2018 Ford Flex Limited interior (source: media.ford.com)
Putting It Together: $276/Month, $0 Down + Drive-Offs
Use the lease calculator below to customize your own inputs, such as MSRP, selling price, and incentives. Every dealer sets its own selling price, depending on factors like inventory and demand. Here's a sample deal of a 2018 Flex SEL FWD in Southern California assuming 9% off MSRP, excellent credit, and 10,500 miles per year.
(11/13/17: Have issues with the calculator loading? Refresh the page. We are working on a fix.)
NEGOTIABLE
% off MSRP
APR: %
GM One-pay Lease: Pay everyting upfront to lower the MF by 0.00042 (24 mos.) or by 0.00073 (36 mos.).
GM Acquisition Waiver: waive the acquisition fee by raising the MF by 0.00055.
APR: %
I want to pay my acquisition fee upfront.
CONFIGURABLE
NON-CONFIGURABLE
%
Residual (%) at miles/yr
%
Tax is levied on monthly lease payment (most states).
Tax is levied on sales price (e.g. VA, GA).
Tax is levied on total lease payment (e.g. NY, NJ, MN).
1st month payment: Lease payment: Down payment: Registration and doc fee: Tax on cap cost reduction and fees: Acquisition fee: Total Tax: $350
Generate & copy a shareable link
If you’ve been on Leasehackr Forum, you may have noticed a good number of posts on Volvo, the Swedish automaker that’s on a bit of a roll. Their latest vehicles are stunning, feeling both special and understated. Turns out that Volvos, like the S90 sedan, can be great leases to boot!
We are fortunate to have New York-based broker, Quentin O’Brien (@nyclife), on our side. As the resident Volvo expert on Leasehackr Forum, he’s helped countless readers find truly amazing deals on S90. Moreover, he’s a true professional who’s developed a great reputation—read some of his testimonials here.
If you’re anywhere near New York, New Jersey, Pennsylvania, or Massachusetts, give Quentin a holler, and he’ll do his best to find you a great deal on a S90. Scroll to the bottom of this page for his details.
So much hygge in one shot. (source: www.volvocars.us)
Volvo S90 Lease Program - Valid Through November 30, 2017
The cost of leasing a particular car is determined by its lease program, which is set by the manufacturer, and the selling price, which is set by the dealer. Here is the current lease program for a 2018 S90 through Volvo Cars Financial Services:
2018 S80 - November 2017 Program
Model
24-Month Residual
36-Month Residual
Money Factor
T5 Momentum
58%
50%
.00040
T6 Momentum
58%
51%
.00080
T6 Inscription
57%
48%
.00022
These residuals assume 10,000 miles per year. Deduct 1% for 12,000 miles per year. Deduct 3% for 15,000 miles per year. The posted money factor (MF) rate assumes top tier credit. Below are the available incentives for 2018 S80 courtesy of Volvo.
The $2,000 Conquest Bonus is a regional offer (Southern California and more) for customers who currently own or lease an Acura, Audi, BMW, Cadillac, Infiniti, Jeep, Lexus, Lincoln, or Mercedes. The $3,000 A-Plan Bonus is available for employees of selected businesses and organizations. The $1,000 Loyalty Bonus is for current Volvo owners or lessees. Additionally, Volvo has a pull-ahead offer for those wishing to terminate their Audi, BMW, Infiniti, Jaguar, Lexus, or Mercedes leases early.
Selling Price
A lightly-optioned 2018 S90 T5 Momentum has an MSRP of $51,160. Here in Southern California, we would target a selling price of $47,160 (8% off MSRP) before incentives. After application of the $4,250 Lease Cash and $2,750 Volvo Allowance, the price drops to $40,160.
Volvo S90 just oozes understated cool. (source: www.volvocars.us)
Putting It Together (YMMV)
Use the lease calculator below to customize your own inputs, such as MSRP, selling price, and incentives. Every dealer sets its own selling price, depending on factors like inventory and demand. Here's a sample deal of a 2018 S90 T5 Momentum in Southern California assuming 8% off MSRP before incentives, excellent credit, 10,000 miles per year, seven Multiple Security Deposits (MSDs), and use of the $2,000 Conquest Bonus.
Having issues with the calculator loading? Refresh the page.
NEGOTIABLE
% off MSRP
APR: %
GM One-pay Lease: Pay everyting upfront to lower the MF by 0.00042 (24 mos.) or by 0.00073 (36 mos.).
GM Acquisition Waiver: waive the acquisition fee by raising the MF by 0.00055.
APR: %
I want to pay my acquisition fee upfront.
CONFIGURABLE
NON-CONFIGURABLE
%
Residual (%) at miles/yr
%
Tax is levied on monthly lease payment (most states).
Tax is levied on sales price (e.g. VA, GA).
Tax is levied on total lease payment (e.g. NY, NJ, MN).
1st month payment: Lease payment: Down payment: Registration and doc fee: Tax on cap cost reduction and fees: Acquisition fee: Total Tax: $350
Generate & copy a shareable link
Or Avoid That Negotiation Thing Altogether!
If you’re in NY, NJ, PA, or MA, send Quentin (@nyclife) an email with your requirements, and he’ll work his magic on a S90.
Sometimes, the cheaper car ends up as the pricier lease. A great example is the all-new 2018 Honda Accord, which as shown below, can cost 40 percent more to lease than its corporate cousin, the 2018 Acura TLX.
Both TLX and Accord are midsize sedans manufactured by Honda Motor Company, with TLX ostensibly being the luxury variant and Accord being the mainstream option. This is illustrated by the MSRPs: a Honda Accord EX-L 1.5T retails for $30,845, while an Acura TLX with Technology Package retails for $37,650.
In actuality though, you'll likely find TLX to be the less expensive lease of the two. Here's a comparison of the lease programs, average discounts, and incentives for the two sedans, and how it all translates into lease deals.
2018 Acura TLX A-Spec (source: www.acura.com)
Current Lease Programs - Through November 30, 2017
The cost of leasing a particular car is determined, in part, by its lease program, which is set by the manufacturer. Here is the current lease program for each car through Honda Financial Services and Acura Financial Services respectively:
November 2017 - Programs
Model
36-Month Residual*
Money Factor
2018 Accord EX-L 1.5T
58%
.00200 (4.8% APR)
2018 TLX Technology Package
54%
.00088 (2.1% APR)
*Assumes 12,000 miles per year. Subtract 2% for 15,000 miles per year.
This month, Honda has chosen not to support the all-new 2018 Accord with subvented rates. The money factor (MF) on Accord is a whopping .00200 (equivalent to 4.8% APR), while the MF on TLX is a more competitive .00088 (equivalent to 2.1% APR). Accord's four percent residual value advantage is more than offset by its staggeringly high MF.
The cost of leasing a car is also determined by its selling price. Here are the estimated average transaction prices of Accord and TLX in Southern California, along with a Leasehackr-worthy target price that we'd aim for, if we were to get one ourselves. Note that each dealer sets its own selling price. Email the internet sales departments of several dealers for their best quotes; your mileage may vary.
November 2017 - Selling Prices
Model
MSRP
Average
Exceptional
2018 Accord EX-L 1.5T
$30,845
$30,500
$28,850
2018 TLX Technology Package
$37,650
$33,300
$32,150
Acura dealers will happily lop off thousands from the retail price of TLX, whereas Honda dealers have less of a reason to do so with the hot new Accord. Although Accord will still be the cheaper vehicle to buy, the bigger discount on TLX helps make it the cheaper lease.
Incentives
Additionally, Acura is offering $3,500 in lease bonus cash on TLX with Technology or Advance Package ($3,000 on TLX Base). No equivalent lease cash is available on Accord this month. Both models, however, do offer a $500 grad incentive for those who qualify.
2018 Acura TLX interior (source: www.acura.com)
Putting It Together
Here are two sample deals of a 2018 Honda Accord EX-L 1.5T and 2018 Acura TLX Technology Package in Southern California, assuming excellent credit, 12,000 miles per year, and the "Exceptional" target selling prices shown above. The sample deals assume $0 down payment with first month's payment, vehicle registration, upfront taxes, and document fee due at signing.
November 2017 - Lease Examples
Model
MSRP
Down Payment
Monthly, Pre-Tax
2018 Accord EX-L 1.5T
$30,845
$0
$416
2018 TLX Technology Package
$37,650
$0
$291
As you can see, Honda's mainstream Accord could cost 40% more to lease than its uptown cousin, Acura's TLX. If you have your heart set on an Accord, you're likely better off buying one outright, or wait until transaction prices trend down. We expect Accord lease programs to improve over time.
Use the lease calculator below to customize your own inputs, such as MSRP, selling price, and residual. The default inputs are for the TLX example above.
(11/14/17: Having trouble viewing the calculator? Refresh this page. We are working on a fix.)
NEGOTIABLE
% off MSRP
APR: %
GM One-pay Lease: Pay everyting upfront to lower the MF by 0.00042 (24 mos.) or by 0.00073 (36 mos.).
GM Acquisition Waiver: waive the acquisition fee by raising the MF by 0.00055.
APR: %
I want to pay my acquisition fee upfront.
CONFIGURABLE
NON-CONFIGURABLE
%
Residual (%) at miles/yr
%
Tax is levied on monthly lease payment (most states).
Tax is levied on sales price (e.g. VA, GA).
Tax is levied on total lease payment (e.g. NY, NJ, MN).
1st month payment: Lease payment: Down payment: Registration and doc fee: Tax on cap cost reduction and fees: Acquisition fee: Total Tax: $350
Generate & copy a shareable link
Which vehicle would you choose? Sound off below or on Leasehackr Forum.
Because a contrasting black roof means excitement! (source: pressroom.toyota.com)
With bold new styling and an impressive list of safety and tech features, the all-new 2018 Toyota Camry is like no other Camry before it. Yet, despite being so new, you can now get fantastic deals on one. Here’s what you need to know about leasing the most interesting Camry ever.
Current Lease Program - Valid Through December 4, 2017
The cost of leasing a particular car is determined by its lease program, which is set by the manufacturer, and the selling price, which is set by the dealer. Here is the current lease program for 2018 Camry through Toyota Financial Services:
November 2017 - Programs
Model
36-Month Residual Value*
2018 Camry LE
56%
2018 Camry SE
56%
2018 Camry XLE
54%
2018 Camry XSE
55%
2018 Camry XSE V6
51%
*Assumes 12,000 miles per year. Subtract 2% for 15,000 miles per year.
Below is the money factor (MF) for 2018 Camry assuming excellent credit. The MF determines the finance charge on your lease. Fortunately, it's very low:
A 2018 Camry LE with few options has an MSRP of $25,119. Here in Southern California, the average selling price is approximately 8% off MSRP. For a Leasehackr worthy deal, we’d target a selling price of $22,230 (12% off MSRP) before incentives, which is aggressive but doable. Email the internet sales departments of several dealers for their best quotes; your mileage may vary.
Apply Incentives
Toyota incentives are regional. Here in Southern California, there’s $1,250 in lease cash on 2018 Camry, available to all, plus additional $750 grad bonus and $500 military bonus for those who qualify.
Gashes on the rear bumper are not Camry Dents, but rather faux air vents! (source: pressroom.toyota.com)
Putting It Together: $192/Month, $0 Down + Drive-Offs
Use the lease calculator below to customize your own inputs, such as MSRP, selling price, and residual. Every dealer sets its own selling price, depending on factors like inventory and demand. Here's a sample deal of a 2018 Camry LE in Southern California assuming 12% off MSRP, application of the $1,250 lease cash but no other incentives, excellent credit, and 12,000 miles per year.
NEGOTIABLE
% off MSRP
APR: %
GM One-pay Lease: Pay everyting upfront to lower the MF by 0.00042 (24 mos.) or by 0.00073 (36 mos.).
GM Acquisition Waiver: waive the acquisition fee by raising the MF by 0.00055.
APR: %
I want to pay my acquisition fee upfront.
CONFIGURABLE
NON-CONFIGURABLE
%
Residual (%) at miles/yr
%
Tax is levied on monthly lease payment (most states).
Tax is levied on sales price (e.g. VA, GA).
Tax is levied on total lease payment (e.g. NY, NJ, MN).
1st month payment: Lease payment: Down payment: Registration and doc fee: Tax on cap cost reduction and fees: Acquisition fee: Total Tax: $350
Generate & copy a shareable link
For what it lacks in finesse, Q50 3.0t makes up for in power. Three-hundred horses, to be exact. More if you go with the RED SPORT 400 pictured here! (source: infinitinews.com)
Our apologies for the bad pun. But, yes, it's true — transaction prices for INFINITI's facelifted sports sedan, the 2018 Q50, have been trending down. Combined with a low money factor, it all results in the potential for a fantastic lease. Here's what you need to know if you're in the market for one.
Find recent Q50 lease examples on Leasehackr Forum here, here, and here.
Current Lease Program - Valid Through January 2, 2018
The cost of leasing a particular car is determined by its lease program, which is set by the manufacturer, and the selling price, which is set by the dealer. Here is the current lease program for 2018 Q50 through INFINITI Financial Services:
December 2017 - Programs
Model
39-Month Residual Value*
2018 Q50 PURE
52%
2018 Q50 LUXE 2.0t
50%
2018 Q50 LUXE 3.0t
56%
2018 Q50 SPORT 3.0t
54%
2018 Q50 RED SPORT 400
56%
2018 Q50 Hybrid LUXE
56%
*Assumes 10,000 miles per year. Subtract 1% for 12,000 miles per year. Subtract 3% for 15,000 miles per year. Subtract 1% for all-wheel drive models.
As you can see, the residual values on Q50 are nothing special; in fact they're low for the segment. Fortunately INFINITI's money factor (MF) for Q50 is super low. With a MF rate of .00003, it amounts to .07% APR, so you're practically paying zero interest.
We'd go for the 3.0t LUXE model, which has a more favorable residual value. With few options, the MSRP is $40,160. Here in Southern California, the average selling price is approximately 16% off MSRP. (Q50 is one of the most discounted cars in its class.) For a Leasehackr worthy deal, we'd target a selling price of $33,300, which is aggressive but doable. Email the internet sales departments of several dealers for their best quotes. Your results may vary depending on region and inventory.
Face-lifted 2018 Q50 features a sportive and premium interior, now with more stitching! (source: infinitinews.com)
Putting It Together: $300/Month, $0 Down + Drive-Offs
Use the lease calculator below to customize your own inputs, such as MSRP, selling price, and residual value. Every dealer sets its own selling price, depending on factors like inventory and demand.
Here's a sample deal of a 2018 Q50 3.0t LUXE in Southern California assuming 17% off MSRP, excellent credit, and 10,000 miles per year. With a Leasehackr Score of over 10, you're looking at one of the best luxury sport sedan values on the market.
NEGOTIABLE
% off MSRP
APR: %
GM One-pay Lease: Pay everyting upfront to lower the MF by 0.00042 (24 mos.) or by 0.00073 (36 mos.).
GM Acquisition Waiver: waive the acquisition fee by raising the MF by 0.00055.
APR: %
I want to pay my acquisition fee upfront.
CONFIGURABLE
NON-CONFIGURABLE
%
Residual (%) at miles/yr
%
Tax is levied on monthly lease payment (most states).
Tax is levied on sales price (e.g. VA, GA).
Tax is levied on total lease payment (e.g. NY, NJ, MN).
1st month payment: Lease payment: Down payment: Registration and doc fee: Tax on cap cost reduction and fees: Acquisition fee: Total Tax: $350
Generate & copy a shareable link
As the case previously, you must be a Costco member before the promotion starts to be eligible for any rebate or cash card incentive offered this year.
Last year, Costco offered Executive Members a $700 Costco Cash Card and Gold Star and Business Members a $300 Costco Cash Card for the purchase or lease of an eligible GM car or truck. Last year’s promotion ran between October 2, 2018 and January 2, 2019.
If you’re planning on leasing a GM vehicle later this year, it might be a good idea to join Costco before October 1, 2019 to be eligible for this promotion.
Last year, the Costco Cash Card promotion was in addition to any existing deal you negotiated. GM brands include Chevrolet, GMC, Buick, and Cadillac. Note there may be exclusions on special models, like the all-new 2020 C8 Corvette.
We do not know the details of this year’s Costco-GM promotion — it hasn’t been released yet. That said, Costco membership is fully refundable, if for whatever reason you are dissatisfied with your membership. Those who wait and become a Costco member during the promotion period will likely be ineligible for any rebate or Costco gift card incentive offered this year.
Leasehackr is not affiliated with Costco and does not receive compensation for this post.
For 2020, Volvo ended production of the fancy pants Excellence version of the XC90. We really liked the XC90 Excellence—it came with champagne flutes and a mini-fridge—but sadly there were few takers at its retail price of $104,900.
Thankfully, Volvo makes XC90s for those with more sensible budgets, too. In fact, thanks to solid residuals and decent incentives, the XC90 is one of the best-leasing three-row luxury SUVs on the market. Factor in its gorgeous Scandi interior and impressive safety credentials, and the XC90 is very enticing indeed.
Here’s a sampling of XC90 deals posted by brokers on Leasehackr Forum. These are pre-negotiated deals for specific in-stock inventory (first come, first serve) that are thousands less than the advertised national lease offer:
The benefit of using a broker is that you save time and money. Brokers work by leveraging their connections with a broad network of dealers to seek out deals. Many offer the option of delivery, saving you a trip to the dealership.
For those hacking a deal on your own, note that Volvo rebates vary by geography, so your deal will vary depending on where you’re located, and of course, how big of a discount you’re able to obtain. Other variables include vehicle configuration (more options = more money) and available inventory.
There’s a good reason why Leasehackr Forum is littered with posts about BMW, Mercedes-Benz, Volvo, INFINITI, and Lexus leases: the chances of finding a deal are much higher with premium brands — to the point where the cost of going premium can be negligible.
We will say that, while these are all generally very strong deals for that particular mainstream car, or else the dealer or broker won’t bother posting them on Leasehackr, for some of the models, it might be worth considering purchasing them outright.
Take for example, the Honda Fit, which made it on the list not because it’s a particularly good car to lease, but because it’s an inexpensive car to begin with. Compared to the others, the lease payment on the Fit is high relative to the MSRP of the car. We think the Fit is a good vehicle to purchase and keep for the long haul, because it holds its value well and is inexpensive to maintain.
On Leasehackr, you’ll find a surprising number of people talking about fart cars.
This isn’t a reference to Tesla’s fart mode, a feature that famously emits flatulence noises through the car’s stereo. No, a fart car is the Leasehackr community’s lingo for a demonstrator (or “demo”) vehicle, usually a courtesy loaner car, that can still be leased under the manufacturer’s new car lease program.
Since demo cars are generally discounted more heavily than new cars, leasing one can be a fantastic option. Here’s what you need to know.
What kinds of fart cars can I lease?
Most premium brands offer courtesy loaners to customers who take their cars in for service. Among Leasehackrs, loaners from BMW and Mercedes-Benz are the most popular fart cars to lease, but you can also find loaners from Audi, Porsche, Lexus, Jaguar, MINI, and Cadillac, among others.
Generally, loaners are current model year, high-volume base models: think a run-of-the-mill BMW X1, X3, 3-series, or 5-series, or a Mercedes-Benz C-Class or E-Class with few options. If you’re lucky, you might find an oddly configured but well-equipped car that was offloaded to the loaner fleet because it wouldn’t sell otherwise.
Some fart cars are “brass hat” vehicles — corporate-owned vehicles driven by manufacturer executives and sold to dealers at auction. While rare, these make for equally good candidates, provided they are discounted heavily and eligible for new car lease programs.
Service loaners from mainstream brands like Chevrolet and Toyota do sometimes exist, but compared to premium brands, the savings tend to be minimal.
How do I find a former loaner or demo car?
Browse the Marketplace on Leasehackr Forum, where dealer representatives and brokers post deals. Former courtesy loaners and demo cars often go quickly.
You can also find loaner and demo cars listed on dealer websites as used vehicles, but you’ll want to review the CARFAX vehicle history report: if a private customer took title of the vehicle, or it was previously leased, then the vehicle is just a regular used car and it cannot be leased under the manufacturer’s new car programs.
With BMW, you’ll want a vehicle with under 5,000 miles to qualify for new car incentives and lease programs, while Mercedes-Benz Financial Services allows customers to lease loaners as new cars with up to 10,000 miles.
How much do I save?
There is no precise formula or rule for how much an ex-loaner or demo car should be discounted. Vehicles that have been in service longer, or vehicles with higher mileage, tend to have larger discounts. Ultimately, selling prices are set by the dealer, and they can make adjustments over time based on how willing they are to sell a particular vehicle in their inventory.
We recommend browsing Leasehackr Forum to get some data points on typical discounts for a particular ex-loaner or demo car in your region. Then browse the Marketplace, and if you see a deal that aligns with your expectations, act on it fast.
Are there any downsides?
Perhaps the biggest downside of leasing an ex-loaner or demo car is that you’ll be working with limited inventory. If you find one that matches your preferences, then great. But unlike with a brand new car, you can’t custom order one, or be too picky about color and options.
Former loaner or demo cars also carry the potential of having existing wear and tear. Before delivery, you should carefully inspect the car for any excess wear or damage that could be chargeable at lease-end. If you’re worried about consumable parts like tires and brakes, particularly on a high-performance car, then it might make sense to go with a shorter 24-month lease instead of the common 36-month lease.
Also confirm whether the bumper-to-bumper warranty will remain in effect during the entire duration of the lease. The warranty start mileage and start date will be based on the vehicle’s original in-service date, rather than when you take delivery of the vehicle. Most premium brands have a 4 year, 50,000 mile warranty, which should generally be enough for a two- or three-year lease of a demo car.
Anything else?
Humorist P.J. O’Rourke once wrote that the fastest car in the world is a rental car: you can drive it with reckless abandon, and if something breaks, it becomes somebody else’s problem. So we can understand the hesitation of purchasing an ex-loaner or demo car.
Leasing in a sense remedies this concern. The vehicle will likely covered by a warranty during the entire lease duration, and you’re not keeping it after that. Most ex-loaners and demos are as good as new, and in reality, most of us are not sociopaths who wreck other people’s property. For deal seekers, the potential for tremendous savings could more than offset the potential for a few pre-existing farts.
VINwiki, the online automotive channel, released a new video today that shares with the broader YouTube community the basics of leasehacking.
Leasehacking is the art of informed car shopping, in which consumers understand the components that go into a lease, and use this knowledge to find excellent deals. For car enthusiasts, leasehacking opens up the door to new potential vehicles — perhaps ones that they didn’t realize were obtainable.
The video features Leasehackr member Scott Smith (@ssmith96). Arguably the most underrated — but still highly effective — tip he relays is simply to be courteous and upfront to salespeople.
“They deal with nonsense all day long,” he explains. “People come in and say ‘I will definitely buy this car if you can do that deal’ — and then they definitely don’t buy the car when offered that deal.”
He adds, “It’s one of my unwritten rules to be as nice as possible and value the dealer’s time and say simply: ‘Look, if we can make this work, great. If not, that’s also alright, and I appreciate it.”
We completely agree — there’s no point to be combative with a dealer when leasehacking. In fact, there’s little correlation between the amount of time spent negotiating at the dealer and the amount saved.
Instead, conduct your research beforehand. Use the Leasehackr Calculator to estimate a target deal. Search Leasehackr Forum for data points and discuss with the community, including car salespeople and brokers, if you need input.
Leasehackr Calculator screenshot used in the video
Once armed with knowledge, email the dealer to obtain a quote for a specific vehicle in their inventory. Counter with your proposed deal. If a dealer declines, move on to the next dealer, or perhaps you might have to create a more realistic target.
Often we’ve found that if the shopper is courteous and upfront about their expectations, some dealers will accept a deal — even if they only break even or, in some cases, lose money — because it required minimal effort and time to get an aged vehicle off their lot.
A down payment simply refers to the amount paid upfront to reduce the amount financed over the course of a lease. Even with a $0 down payment lease, there are still fees and other expenses to pay before you can drive off in your new car:
first month's payment;
license and registration;
taxes; and
document fees.
These drive-offs, as they're called, can amount to hundreds of dollars, or in some instances, even a few thousand. You can request to roll the drive-offs into the monthly payment, or have it paid with rebates (if available), should you want a true $0 drive-off lease.
Read the fine print carefully!
Unfortunately, there's no standardized way of advertising a lease. Terms like drive-off, down, down payment, and due at signing are sometimes used interchangeably, or they can refer to different things. Sometimes, taxes and fees are included in the due at signing amount; other times, they are not.
The best thing to do is to read the fine print carefully. When asking for pricing, confirm that the amount you're quoted includes all applicable taxes and fees. You can provide your ZIP code so the dealer can calculate fees accordingly.
Here's an example.
Take a look at this ad below from a California-based Alfa Romeo dealer:
Fine print: "Low-mileage lease for well qualified lessees. Lease a 2018 Alfa Romeo Giulia for $305 for 24 months. Bank acquisition fee of $595, tax, title, license & first payment due at signing. Must qualify for FCA returning lessee rebate or put an additional $500 down at signing. 10,000 miles per year ..."
From a glance, one might expect to pay $0 out-of-pocket and $305 per month thereafter. If you read the fine print, however, you'll see this doesn't include the standard drive-offs, or even the bank acquisition fee of $595. Moreover, it assumes use of a $500 returning FCA lessee rebate.
In total, the amount due at signing will be approximately $2,000 for a non-FCA lessee. Still a fantastic deal, but perhaps pricier than you expected.
Another example, this time from the manufacturer.
Here's a "lease special" on a manufacturer's website (it's actually close to full price, so it's not that special) that uses the terminology due at signing. But again, the actual amount paid upfront will be greater than the advertised amount:
Fine print: "Security deposit waived. Plus tax and license ... 12,000 miles per year. Lessee to pay $209 a month for 36 months with $1999 drive-off ..."
In this case, the ad includes the $209 first month's payment, $650 acquisition fee, and a $1,140 down payment in the $1,999 due at signing amount. However, after taxes and registration fees, the actual drive-off will be closer to $2,600 (assuming Los Angeles County taxes).
An ad where due at signing means just that.
And finally, here's an example of a dealer ad where due at signing truly means that:
Fine print: "...$289 per month plus tax for 36 months ... $1,995 due at lease signing ... Includes 1st payment, $0 security deposit, tax, license and fees. Drive off example based on 9.5% tax rate and actual amount may vary. 10,500 miles per year with $.20 per mile thereafter..."
In this ad, the $1,999 due at signing includes the first payment and applicable taxes and fees based on the local tax rate of 9.5%. How refreshing.
In sum, it's important to keep in mind these differences as you browse ads and receive quotes. One deal might look better than the other, but after accounting for upfront costs, it might actually be the worse deal.
With Black Friday just around the corner, we’re here to remind folks that holiday sales events are, more often than not, gimmicks to get customers into dealerships. There’s little evidence to suggest that a car shopper is more likely to get a good deal simply because it’s a holiday weekend.
In general, there are two main factors that affect how much someone will pay: the discount offered by the dealership, and the incentives and programs offered by the manufacturer. Neither are affected specifically by the presence of a holiday, as we explain below.
Dealers Discount Year Round, Not Just During A “Sale”
Buying a car is different from buying most consumer goods. At Costco, for example, everybody pays the same price for a good. (Nobody tries to negotiate the price down at the checkout aisle.) When an item does go on sale, the sale is “real” in the sense that it’s available for everyone but only during a specific time period.
With cars, shoppers will often negotiate the selling price of a vehicle below the retail price. Due to the unique pressures that auto dealers face, such as sales quotas and targets from the manufacturer, dealers may be willing to cut into some or all of their profits on a car in order to move inventory.
Because consumers expect the ability to negotiate the selling price of a vehicle any time of the year, essentially every day has the potential to be a sale day.
Manufacturer Programs Vary by the Month, Not Around Holidays
Manufacturer incentives and programs also affect the final price paid, independent of the discount offered by the dealer. For example, the finance arm of the manufacturer might provide rebates and subvented money factor rates, or dealer cash tied to the sale of a vehicle, in order to help dealers sell more cars.
However, these incentives and programs are released on a monthly basis and are valid through the entire month — not just during a holiday weekend.
As Trusted Hackr @RVguyexplains in a discussion on Leasehackr, “The teams at each OEM that set incentive levels don’t follow any holiday schedules, but rather look to how well their sales did last month relative to plan and adjust accordingly.”
“If the prior month was down year-over-year on the sales volume for a particular model, you can expect to see higher incentives in the current month (total generalization but true more often than not),” he adds.
So Should I Buy a Car During a Holiday Weekend or Not?
Look, it’s perfectly fine to buy a car during a holiday weekend, if it’s a convenient time for you.
Just realize that holiday extravaganza mega-sales aren’t really a thing. Incentives tied to a holiday are exceedingly rare, and if they do become available for a particular model, chances are they will be a relatively small amount. You cannot automatically assume that great deals can be had simply because of an upcoming holiday alone.
There are more influential factors that affect how much you will pay. These include:
Inventory age;
Rebates and dealer cash; and
Volume bonuses and monthly sales targets.
All of these factors could work in your favor during a holiday weekend — or on a random Tuesday afternoon in August.
With coronavirus (COVID-19) cases in the U.S. growing exponentially, each of us can do our part to “flatten the curve” of this pandemic. By staying home, we’ll reduce the burden on our hospitals and save countless lives.
We also know that many are facing economic uncertainty during these difficult times. With over 4 million car leases expiring this year, people understandably have questions about their leases and what they can do in this situation. Here are some answers to frequently asked questions.
This particular deal applies only to a small subset of people: Floridians who are returning existing Mazda leases. That said, it’s a great example of what a “unicorn” deal can look like when all the stars align.
This deal, from broker AutoLeaseNinjas, is $79 per month plus tax, with $1,999 due at signing (includes DMV registration fees, first month’s payment, and down payment). The lease is for 24 months with 10,000 miles per year. Even if you roll the upfront costs into the monthly payments, you’re looking at around $165 per month with $0 upfront — phenomenal for a vehicle that stickers at $23,000.
New for 2020, CX-30 is Mazda’s stylish sub-compact crossover that competes against mini-SUVs like Honda HR-V and Subaru Crosstrek. While some rivals offer more interior and cargo space, CX-30 stands out from the crowd with its premium build quality and upmarket driving dynamics.
As an offer of appreciation to those on the front lines of the COVID-19 pandemic, Volvo is offering an extra $2,000 incentive toward leases for Medical Personnel, Teachers, and First Responders in the Northeast states.
These states include NY, NJ, PA, CT, MA, NH, VT, and RI. Other regions may have a similar bonus for medical personnel and first responders, but they differ in amount. (In California, the incentive is $1,500 — which, unlike in the Northeast, can be combined with a $1,500 Volvo/Saab loyalty incentive.)
Even without the Medical Personnel, Teachers, and First Responder incentive, there are fantastic Volvo lease deals to be had in the Northeast right now (April 2020). The $2,000 incentive can be applied to reduce the amount due at signing, or lower the monthly payment by about $50 per month on a 36-month lease.
Here’s a sampling of Northeast deals on the Leasehackr Marketplacebefore the $2,000 Medical Personnel, Teachers, and First Responder incentive:
2020 Volvo V60 T5 Cross Country (NEW) ($46,xxx MSRP): $359/month + tax, $2,500 drive-off + DMV with MSD (@BostonCarConcierge)
Other deals, such as XC60s in the $300s and XC90s in the $400s, have also been posted on Leasehackr Marketplace. These are all zero-negotiation deals for specific inventory (first come, first serve) that are thousands less than the advertised national lease offer.
If you’ve got some essential work to do — and you’re in need of a full-size pickup in the age of COVID-19 — then Toyota’s Tundra is by far the cheapest one to lease, thanks to stellar projected residual values.
Check out this deal from @Cody_Carter, available to California customers, for a 2020 Toyota Tundra SR5. It’s a 4x4 CrewMax model with the TRD Wheel/Tire package, in addition to standard equipment like radar cruise control and Apple CarPlay.
MSRP: $45,308
Monthly: $238 + tax
Down payment (capitalized cost reduction): $0
Total due at signing: $1,219 (first payment, DMV fee, document fee, upfront taxes)
Months: 24
Miles per year: 10,000 (other mileage options available)
