bgg1
Well-Known Member
- Thread starter
- #1
A bit of a long post but I want to make sure I have all of the relavent information included to help you guys help me make a decision. II'm in a bit of a time crunch as delivery date nears, but it appears as though I was quite mistaken about how the pre-order discount applies to leasing.
As background, I pre-ordered in 2021 and configured a quad motor. My plan was to hold out as long as possible to wait out my current lease. I mentioned this when contacted by a guide earlier this year and he basically said good idea, and I won't lose out by doing so. Fast forward to this summer and I get the notification that the deadline to apply pre-order pricing is September, so I go in to finalize only to find that not only is my configuration gone, but it won't be available and I have to take something from the shop to qualify. Oh, and now it's a set 20% voucher. Finally pick a Dual Max, which ends up costing more than my original Quad would have, although the Dual has Max battery vs Large for the Quad, as well as a couple of other upgrades.
Now for the numbers:
Total cost before voucher comes to $100,850, and with a voucher discount of $20,170, my subtotal is $80,680. My original plan was to lease so I could get the full $7,500 cap reduction however that was going to be factored in (couldn't confirm if it would lower the lease payments or lower the upfront costs or maybe something else), and then buy it out after the lease assuming I didn't have any major problems with the vehicle. However, when I select lease for financing it shows a vehicle price of $97,650, lease credit of $7,500, and deposit credit of $1,000, with about $7,000 due at signing with $0 down and $1,200/month cost, vs about $1,000/month with the default $6,000 down (and therefore about $13,000 due at signing). Financing over 5 years with a 3.69% (not sure which credit score they use) is based on the $80,680 cost, $1,000 deposit, and $9,237 in taxes and fees (thanks, NY!) and depending on the down payment gives me a monthly cost of $1,380 ($0 down) to $1,220 ($10,000 down).
Questions:
How exactly does the pre-order apply to leasing? Are there further reductions that show up later after selecting a financing method or is that it?
Assuming the numbers I presented are the final numbers, is there any reason to go with lease over financing?
If I buy am I completely losing out on the tax credit and does that change the calculus?
Thanks in advance for all your help.
As background, I pre-ordered in 2021 and configured a quad motor. My plan was to hold out as long as possible to wait out my current lease. I mentioned this when contacted by a guide earlier this year and he basically said good idea, and I won't lose out by doing so. Fast forward to this summer and I get the notification that the deadline to apply pre-order pricing is September, so I go in to finalize only to find that not only is my configuration gone, but it won't be available and I have to take something from the shop to qualify. Oh, and now it's a set 20% voucher. Finally pick a Dual Max, which ends up costing more than my original Quad would have, although the Dual has Max battery vs Large for the Quad, as well as a couple of other upgrades.
Now for the numbers:
Total cost before voucher comes to $100,850, and with a voucher discount of $20,170, my subtotal is $80,680. My original plan was to lease so I could get the full $7,500 cap reduction however that was going to be factored in (couldn't confirm if it would lower the lease payments or lower the upfront costs or maybe something else), and then buy it out after the lease assuming I didn't have any major problems with the vehicle. However, when I select lease for financing it shows a vehicle price of $97,650, lease credit of $7,500, and deposit credit of $1,000, with about $7,000 due at signing with $0 down and $1,200/month cost, vs about $1,000/month with the default $6,000 down (and therefore about $13,000 due at signing). Financing over 5 years with a 3.69% (not sure which credit score they use) is based on the $80,680 cost, $1,000 deposit, and $9,237 in taxes and fees (thanks, NY!) and depending on the down payment gives me a monthly cost of $1,380 ($0 down) to $1,220 ($10,000 down).
Questions:
How exactly does the pre-order apply to leasing? Are there further reductions that show up later after selecting a financing method or is that it?
Assuming the numbers I presented are the final numbers, is there any reason to go with lease over financing?
If I buy am I completely losing out on the tax credit and does that change the calculus?
Thanks in advance for all your help.
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