muncan
Member
Hello everyone. Our household is in search of a eco friendly, energy efficient vehicle. My husband likes the LEAF, so began our search. From everything that I have read and researched I now know not to buy a used LEAF; which was our first inclination. So we've looked into buying one outright (cash) or considered financing based on current promotions. I am a numbers person and something just doesn't make sense to me, and I am hoping you can shed some light:
I've been pricing the 2013 or 2014 S w/QC (a must have since I commute ~70 miles RT daily). Currently the incentives are a $2500 Captive Cash rebate from NMAC for financing with 0% APR for up to 72 months. Not a bad deal given the $7500 tax credit and $2500 state credit that would be coming our way. However, when I have asked for quotes for an outright sale and then asked for a financing quote of the same car, I am getting different prices. Here's an example from a dealer quote:
Red LEAF 2013 with Quick Charge:
CASH PURCHASE:
This net price is calculated as follows: MSRP $31,355.00
Nissan Discount and Rebates $0.00
Dealer Nissan Discount $5,700.00
Total Cost: $28,700.00
OR
FINANCE:
This net price is calculated as follows: MSRP $31,355.00
Nissan Discount and Rebates $2,500.00
Dealer Discount $3,055.00
Total Cost: $25,800.00
Total Savings: $5,555.00
So the difference between buying the car cash here is $700 more than if I were to finance it . Why the disconnect? Outside of this just being a shady practice :?: - after all the purchase price should be the same regardless of whether I pay for it cash vs. financing - I can only assume that the dealer is looking for a way to increase their profit. With 0% financing, there is very little room, outside of volume sale rewards to the dealership, so I understand that the dealership must make some money somewhere. This example is one of the smaller variances. All dealerships that I have requested for quotes have come in with a differential, some as aggregious as $2000 difference between cash purchase and finance.
Does anyone have any advice as to how to best approach this? I am disenchanted by this and other dealership experiences that I've had. I will post those and which dealerships they are so that others can beware.
We are now looking at leasing as an option, but we're not completely there. I appreciate your guidance mynissanleaf forum members!
I've been pricing the 2013 or 2014 S w/QC (a must have since I commute ~70 miles RT daily). Currently the incentives are a $2500 Captive Cash rebate from NMAC for financing with 0% APR for up to 72 months. Not a bad deal given the $7500 tax credit and $2500 state credit that would be coming our way. However, when I have asked for quotes for an outright sale and then asked for a financing quote of the same car, I am getting different prices. Here's an example from a dealer quote:
Red LEAF 2013 with Quick Charge:
CASH PURCHASE:
This net price is calculated as follows: MSRP $31,355.00
Nissan Discount and Rebates $0.00
Dealer Nissan Discount $5,700.00
Total Cost: $28,700.00
OR
FINANCE:
This net price is calculated as follows: MSRP $31,355.00
Nissan Discount and Rebates $2,500.00
Dealer Discount $3,055.00
Total Cost: $25,800.00
Total Savings: $5,555.00
So the difference between buying the car cash here is $700 more than if I were to finance it . Why the disconnect? Outside of this just being a shady practice :?: - after all the purchase price should be the same regardless of whether I pay for it cash vs. financing - I can only assume that the dealer is looking for a way to increase their profit. With 0% financing, there is very little room, outside of volume sale rewards to the dealership, so I understand that the dealership must make some money somewhere. This example is one of the smaller variances. All dealerships that I have requested for quotes have come in with a differential, some as aggregious as $2000 difference between cash purchase and finance.
Does anyone have any advice as to how to best approach this? I am disenchanted by this and other dealership experiences that I've had. I will post those and which dealerships they are so that others can beware.
We are now looking at leasing as an option, but we're not completely there. I appreciate your guidance mynissanleaf forum members!