hi all. this is my first post in this forum, although have been reading all the topics for some time.
am on the verge of signing a lease for a 2016 F type R and I think I'm getting a decent lease deal but wanted some confirmation from you guys. here goes:

MSRP 109k
42 months.
10,000 miles
5500 drive off price at time of signing
1400 monthly there after.

what do you guys think? too much? acceptable? good?
thanks in advance

 

Where are you located? Is that with tax? Sounds high to me...

 

I'm located in Detroit. and yes the 5500 at time of signing is all inclusive. and the 1400/month is including tax etc as well.

 

Still sounds about $200-$300/month too much...anyone?

 

hmm...appreciate the replies. 1100-1200 monthly was affording an AWD S, loaded. I know this deal isn't awesome, but at this point I just want a fair deal and don't wanna be fleeced. what do you guys think?
thanks

 

The problem is that vehicle pricing varies greatly based on location.

I can tell you that for my area (Southern CA), that is a bit high. However, SoCal has some of the best lease deals on cars in the country, as it is a super-competitive market.

Comparing pricing between SoCal and Detroit won't be a good measure of whether that deal is good for your location. I would look to a local resource like True Car to try and determine more realistic pricing for your location.

I've always leased following the philosophy that I know what the car is worth to ME, and if I can get the car I want for what it is worth to me, then I pull the trigger and close the deal. That isn't to say I don't hammer my salesperson for a good price, but you can drive yourself nuts trying to get the "best" possible deal, or miss out on a great car.

 

hmm that's a good approach. makes sense. I've never paid so much monthly for a car so am just a little weary. and yes, I did decide on the f type R, but just don't want to get ripped off

 

I was offered 10k down and 33 months at 1450 on a $108k car.

They later offered 3k off MSRP, but don't know what that would do to payments. Someone smarter than me could work that out.

Texas.

 

hmm, helpful info. so basically with me giving 2800 down and a 42month term, 1400/month ain't looking that bad for a 109k car? correct?

 

to say whether a lease is good, we need 2 things

- money factor (basically the interest rate)
- residual

ask them for it...otherwise it's really hard to say what is a good deal.
for perspective, when I leased my 2015 R the residual was 52%...the residual on a 2016 R is now in the low 60s...this is equivalent of $10+K over 36 months, easily $300/month...nothing has really changed except the financing company has increased the residual...

 

here's some vanilla numbers for California..no idea what the actual residual is, figured for 42 months maybe it's 59%?

 

nice...thanks! will use this for reference.