Lease vs buy 24 GT

[1badsnake]

Just wanted to say thanks to everyone who helped me out.

Picked it up yesterday, level 2 being hardwired Tuesday. Love it so far!

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[HuntingPudel]

Well I've finally committed. All approved and signing the paperwork this week.

24 GT glacier gray $59,985 MSRP, moonroof and home charger were the only 2 extras. Final deal was $17,750 off MSRP, 36 month lease, $0 down, 19,500 miles per year. $558 a month. $25k buyout if I choose at end of lease.

Couldn't beat this deal anywhere else and excited to pick it up this weekend.

Thanks everyone for your help and insight!

Wow, $17.5K off of MSRP. Nice! I could only get $13K in incentives on my lease on Black Friday. Great deal! ??

 

[StevenC56]

Question-Is it possible to lease a Mach E to get the $7500 lease incentive, and then payoff the vehicle and purchase it a month or 2 later?

 

[dalola]

Question-Is it possible to lease a Mach E to get the $7500 lease incentive, and then payoff the vehicle and purchase it a month or 2 later?

Of course, but you should analyze the numbers to see if it makes sense. You would pay off all your lease payments, then purchase at the determined residual value. You can do that anytime, but I'm not sure what advantage that is to you, vs. completing the term?

 

[Mach1E]

Of course, but you should analyze the numbers to see if it makes sense. You would pay off all your lease payments, then purchase at the determined residual value. You can do that anytime, but I'm not sure what advantage that is to you, vs. completing the term?

Agreed, not sure why you’d pay up front rather than waiting until the end.

Maybe 3 years from now you don’t want the car.

There are also a lot of differences depending on the manufacturer-

 

[StevenC56]

So I'll have to crunch the numbers, but if I pay cash for the car I won't get any rebate on a 2025 most likely. So I'm trying to figure out if I lease and get the $7500 and then buy the car after the lease is up or before, will my bottom line be more or less than paying cash with no $7500 rebate?

 

[dalola]

So I'll have to crunch the numbers, but if I pay cash for the car I won't get any rebate on a 2025 most likely. So I'm trying to figure out if I lease and get the $7500 and then buy the car after the lease is up or before, will my bottom line be more or less than paying cash with no $7500 rebate?

Yeah, I get you.... but you'll need all the lease terms, and all the purchase terms, before you can fully understand the difference. And my main point was, completing the lease early vs. fulfilling the terms, THEN deciding. A lot can happen in 3 years....

 

[PhuhQ]

This may be me being an amateur when it comes to purchasing vs leasing and the terminology. But, the rebates are different for purchasing and leasing so how can you say there would be a $7,500 difference looking at the cap cost?

Example, I'm eligible for $6,000 in rebates as a purchase. I'm eligible for $4,000 on a lease plus the $7,500 ev cash rebate he listed for a total of $11,500 in rebates. In both circumstances they are giving me $5,500 as well for a dealer discount and $750 PCO So $12,250 for a purchase, $17,750 for a lease. The Sales Manager told me if there was an additional $7,500 for a fed rebate, my payment would be in the mid $300s a month for a 2024 GT with 36 month lease and 19,500 miles per year.

IMO, there is no way someone is going to get a $350 a month payment for the vehicle I listed.. not even close. But you can see why I really need to dig into this and get a confirmation. An additional $7,500 is no small chunk of change to just give up on.

What dealership did you work with?

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