"Fun" times at Fiat of Manhattan

"Obruni" (Obruni) 03/17/2015 at 21:28 • Filed to: Fiat, dealership, boourns

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since my used car search has been going horribly I decided to check out some lease deals.

Fiat of Manhattan has a special for "$0 down, $99 a month" on Fiat 500 Sports. Now I know enough about the dealership experience that a deal like that usually is a come-on, but I decided to give it a go anyway. Besides, I've wanted to test drive one of these for ages.

http://www.fiatusaofmanhattan.com/specials/new.h…

so the fine print is as such: Automatic Transmission. MSRP $19,850. 24 month lease - lease for $99/mo for 24 months with $1,999 down plus taxes, fees, tags. Residual $13,299. 36 month lease - $99/mo for 36 months with $0 down plus taxes, fees, and tags. Residual $11,711. Both lease options are 10k miles/year. Both deals include $500 Bonus Cash, $500 Chrysler Capital Cash, and $1,000 Conquest Cash. Includes Military Bonus Cash.

So I figure, the lease conquest cash is out, as is the military bonus cash, so $1500 then.

But this is where things get fun!

The automatic transmission is a "misprint" and wanting to put $1000 down (rather than $1500) and equip an automatic means $214 a month, plus tax.

How the fuck does that math work vs $99 a month? Fiat's own website puts the price of an automatic at $22 a month on a 3 year lease. It leads me to doubt that the $99/month, $1999 due at signing program on Fiat USA's website doesn't exist in real life.

Argh. Its a real shame too, I actually liked the test drive. But if the actual price is $215 a month, I'd rather get a Honda Fit.

Sam > Obruni 03/17/2015 at 21:34

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I drove and Abarth recently and thought that they are actually very neat vehicles. The driving position and the visibility is very unique, and I don't think I've encountered anything that drive quite like it.

Yossarian > Obruni 03/17/2015 at 21:40

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There's no way it's that high. You're close to leasing an Abarth for that price. Check the Fiat forums and find out the residual % and money factor, I don't know about Fiat but I know in the BMW M forums there's a thread on lease deals where the numbers are posted monthly, let's you know you're not getting screwed when negotiating.

Obruni > Yossarian 03/17/2015 at 21:49

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on the Fiat forums I am seeing complaints regarding the 500e lease price coming in much higher than advertised at dealers.

Yossarian > Obruni 03/17/2015 at 22:14

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It probably has to do with credit scores, most places want tier 1 750+ credit to qualify. That and they might advertise the lease price post-tax rebate that you may or may not qualify for.

Obruni > Yossarian 03/17/2015 at 22:53

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I have Tier 1 credit.

Twinpowermeansoneturbo > Obruni 03/17/2015 at 23:00

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Somethibg isn't right here. The dealer wouldn't show you a deal that's worse than the lease special. That never happens. Regardless, let's discuss the lease special first. Every $1000 down is roughly $30 on a monthly payment. If $2000 down gets you to $99, the $0 down is $160. Taxes, tags, and doc fee are roughly $2000, so there's another $60 on your monthly payment. Now we're at $220. You also did not qualify for the lease conquest cash and military rebate. That's $1500, or another $45 tacked on to your monthly. So your real sign and drive is $265. Now, the dealer showed you $1000 down ($30 on your monthly), $215 a month plus tax. Tax is $1500, or $45 dollars on the monthly. So the dealer sign and drive is $290.

Yossarian > Obruni 03/17/2015 at 23:10

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You could try emailing them first instead, get the deal set through there and just come in and sign since you know you like the car. In my experience you get better deals that way especially if you email more than one dealer.

Obruni > Twinpowermeansoneturbo 03/17/2015 at 23:30

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No.

the lease program on Fiat's website was $1999 due at signing, which includes all fees (zero security deposit) but not tags. no military or lease conquest rebates are part of that $1999.

Taxes aren't $1500. In NY you only pay tax on the down payment and lease payment. at $160 a month, 2000 down = $665. Registration fees are $195.

the only way your calculation works is if the doc fee is over $1100.

Twinpowermeansoneturbo > Obruni 03/17/2015 at 23:41

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Ah I see, tax on a lease works a little differently here.

Obruni > Twinpowermeansoneturbo 03/19/2015 at 22:47

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Update: Fiat of Manhattan called me up to apologize for the quotes, and gave me a new price.

$1000 + fees at signing and $210 a month is now $0 + fees at signing, $157 a month.

:)

Twinpowermeansoneturbo > Obruni 03/20/2015 at 07:44

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Well, that certainly sounds like a much more attractive offer. Is Fiat of Manhattan the one near the strip club? I think I pass it on the bus from BOS to NYC.