Hi All! New to the Forum and I wanted to share our Lease experience.
We leased a 2019 I-Pace SE with an MSRP of $79,552. The dealer located in Southern CA had a lot of inventory that was not moving. The National program mentioned in this thread had just come out so I knew the timing was getting really good. Some research on Edmunds in their forums section gave me the ammunition I needed to negotiate with strength having the facts.
Edmunds Forum: https://forums.edmunds.com/discussio...als-and-prices
We were able to negotiate $6,500 off sticker bringing the adjusted CAP cost (Selling Price) down to $73,052. Our drive off included the $7,500 federal Tax Credit plus our out of pocket total cash of $5,000 for a total drive off of $12,500. The residual was 43% at the end of 36 Months and the Money Factor was .00008.
The Lease is 36 Months with 10K miles per year. The total payment including tax came out to $865.03 per month.
We feel good about where we landed and this was on 8/3/19. More than a month has passed and I think we could do even better now but I will not sweat it. LOVE THE CAR!!!
Congrats on the car! It sounds like you got a very good deal, but the way you’re phrasing this is confusing me. You said your drive off included the $7500 tax credit and $5,000 out of pocket cash. Normally the “drive off” is the amount you’re paying the day you take the car off the lot - and I’m assuming you didn’t pay the dealer the tax credit.
Im guessing what you’re calling “drive off” is really “cap cost reduction” - the total amount reduced off of MSRP when computing the price for the lease payments.
To be clear - are you saying the MSRP was reduced by $6,500 (negotiated discount), $7500 (tax credit ordinarily payed to dealer if EV leased), and $5000 cash down? So capitalized cost for the lease was $79,552 - $18,000 = $61,552?
Sorry to get so technical, but I’m currently about to negotiate a lease myself and your experience could be helpful - there’s not much out there about lease experiences since the I Pace isn’t that popular.
Thanks in advance for clarifying!