What's everybody paying?

[blownb310]

That's great news to hear that another dealer besides O'Brien leased one so cheaply. I'm guessing that Mitsubishi may have told them to blow them out by a certain date last month.

Mike

 

[nsps]

I got mine for $145/month, zero down for 24 months. (It's the SE model with premium package.) The dealer was asking for $2999 down, $221 a month, then called me at the end of February offering that significantly better deal. I guess they wanted to make their quota for the month.

 

[benswing]

Got mine on a lease for $75/mo with no money down in North Jersey.

The dealer said that Mitsubishi set up the new financing near the end of February to get more cars on the road. Bell Mitsubishi in Rahway got about 10 cars out the door this way. You had to be "sponsored" to get the deal, which just meant you have to know someone "in the know" to get this price. They actually started at $95/mo in mid-Feb, then dropped to $75/mo for the last week of the month.

I also talked a colleague into leasing with this deal, so there are two of us at work now.

 

[blownb310]

Thanks guys. Now it seems like this flurry of activity all occurred last month. Can anyone say they got a "deal" in March? Are the rest of us now out of luck?

Mike

 

[MatimalND]

I want the same deal too. I tried to get one from a dealer in MN (They have 4 on the lot). They wanted close to $300 a month. I guess they will sit on them a little longer. I would buy outright if I could but I bought a Leaf and the tax credits wouldn't do me any good. If anyone has information I can give the salesman to make this deal work would be greatly appreciated.

Matt

 

[nsps]

I want the same deal too. I tried to get one from a dealer in MN (They have 4 on the lot). They wanted close to $300 a month. I guess they will sit on them a little longer. I would buy outright if I could but I bought a Leaf and the tax credits wouldn't do me any good. If anyone has information I can give the salesman to make this deal work would be greatly appreciated.

Matt

My only tip would be check in with the dealer at the end of the month. They were offering $100/month leases to employees as well. I spoke with three dealerships, one with five i-MiEVs on the lot, and only one (which only had two) offered me the deal. Luckily they also had the color I wanted.

 

[blownb310]

I sent my dealer this thread link and asked for a similar deal. Here was his reply:

"From talking to my general manager back in late Jan and Feb those leases did exist, however, like every month in the Car business programs change and Mitsubishi is no longer offering that lease. They are advertising $221 month for 36 months with $2,999 down. Ours is the SE package with nav and quick charge. The reason Albany people are not coming off there price is due to what Mitsubishi is offering. Believe me if we could move it at $145 or $69 we would."

 

[nsps]

I sent my dealer this thread link and asked for a similar deal. Here was his reply:

"From talking to my general manager back in late Jan and Feb those leases did exist, however, like every month in the Car business programs change and Mitsubishi is no longer offering that lease. They are advertising $221 month for 36 months with $2,999 down. Ours is the SE package with nav and quick charge. The reason Albany people are not coming off there price is due to what Mitsubishi is offering. Believe me if we could move it at $145 or $69 we would."

Interesting. The deal for this month is actually the same deal they were advertising from February, but they must have thrown out some sort of end-of-month incentive. For what it's worth, my dealer told me that the $69/month deal was actually supposed to be for employees only, and the dealership screwed up and advertised it for everyone. I can't say how much truth there is to that claim, but there you go.

Also, try to get the actual anatomy of the lease — the purchase price, the residual, the money factor, the rebate cash. The lease company gets to pocket the $7500 tax rebate, so make sure you get most of it back toward your purchase.

 

[aarond12]

...my dealer told me that the $69/month deal was actually supposed to be for employees only...

It's true. The Mitsubishi VIP program, that enabled some of us to get the great lease deal, is only for Mitsubishi employees. In fact, a month after I got my car, I got a letter in the mail thanking me for leasing a car and being a Mitsubishi employee! :shock:

Apparently Mitsubishi's VIP program allows the employee to sponsor up to 4 other people and use their employee discount for them. Maybe someone at the dealership gave up one of their credits for me. I'm really not sure. You could always ask the dealership if someone wants to "sponsor" you with the VIP program...

 

[alohart]

I haven't looked at my local Mitsubishi dealer's Website since I bought my i-MiEV at the end of December. Looks like this dealer is aggressively trying to unload his 12 remaining i-MiEV's before too many 2013 Leaf's arrive.

This Website has never been particularly accurate. All of these i-MiEV's are SE's, not ES's. There's no indication about which options are included with each car. The photos are not always correct for the car being sold. But $7,500 off MSRP is pretty impressive. I wonder if this $7,500 discount is being offered by nationwide Mitsubishi Motors. I wonder whether my dealer will continue selling i-MiEV's considering how many have been sitting on his lot for so long.

 

[nsps]

I haven't looked at my local Mitsubishi dealer's Website since I bought my i-MiEV at the end of December. Looks like this dealer is aggressively trying to unload his 12 remaining i-MiEV's before too many 2013 Leaf's arrive.

This Website has never been particularly accurate. All of these i-MiEV's are SE's, not ES's. There's no indication about which options are included with each car. The photos are not always correct for the car being sold. But $7,500 off MSRP is pretty impressive. I wonder if this $7,500 discount is being offered by nationwide Mitsubishi Motors. I wonder whether my dealer will continue selling i-MiEV's considering how many have been sitting on his lot for so long.

My dealership is advertising $8,000 off MSRP, but when you click their inventory, it looks like they sold their last one. They only had two in stock and I bought one of them, so someone must've grabbed the last one (a white standard SE).

http://www.kengarffmitsubishidowntown.com/

The next closest dealership has 5, but no deals advertised. If anyone I know wants one, I'll tell them to go low-ball 'em and see what happens.

 

[fresnomiev]

Though I can hardly believe it, I will hopefully pay $8000, after all discounts and federal, state, and valley rebates for my 2012 Miev SE. Tim Yopp at Ecklaus Auto in Clovis, Ca (a fleet dealer) gave me a $10,000 discount on the $30,500 list price. I paid him $20,500, including all taxes and dealer fees, and now have the car. I am now applying for $12,500 in rebates, including a $2000 California Air Resources Board rebate, a $3000 San Joaquin Valley Clean Air rebate (our valley in Fresno, Calif. has some of the worst pollution in the country), and at the end of the year the $7500 federal rebate. Tim is a great guy and gave me exactly what he said he would. I could not believe this. My Miev, which I just got a few days ago, is simply the most amazing car I have ever owned. The only problem with it is that everyone in our family wants to drive it, so I hardly have a chance to take it out. I look forward to powering it up through the 3.5kw solar system on our house and having many miles of solar ev'ing ahead!

Ken MF

 

[jennrod12]

Way to go, Ken!

Jenn

 

[blownb310]

That's a great deal fresnomiev. The best price for a new untitled car that I have seen one sell for is $18,700 in this completed ebay listing from Feb. 20th: http://tinyurl.com/cc5u8pr
The car did not make reserve but the seller accepted the offer after the auction closed.

 

[MatimalND]

Please if anyone hears of the $99 lease deal again please let me know. I so want another i-MiEV for the wife but cannot afford to buy another one. I have a Leaf and if I would have seen the $99 deal before buying the Leaf I would have two i-MiEV's sitting in my stable right now . Also anyone that wants to just donate me a i-MiEV that would work also.

 

[alohart]

I so want another i-MiEV for the wife but cannot afford to buy another one. I have a Leaf and if I would have seen the $99 deal before buying the Leaf I would have two i-MiEV's sitting in my stable right now .

In a few months when the early i-MiEV leases begin to expire, there should be some good deals on these formerly-leased i-MiEV's. The residual values are far too high for most lessees to buy when their leases expire.

But how many EV's do you need? Your Leaf is a really nice EV as well.

 

[MatimalND]

My wording was wrong I wan't "a" i-MiEV not "another" which would suggest I already had one. I just have the one Leaf but get tired of putting gas in her car. I guess I can wait a while, just figured putting in $100 of gas in her car would cover a $99 lease payment, plus she has been eyeing my Leaf.

 

[marlon]

I have an imiev on lease. I'm astonished at the deals some people are getting. However, it raises an interesting question. Based on these prices, my residual value is absurd. If they are going to sell new ones so cheap, I would think they are going to destroy the residual values and we should be able to buy our cars at a good price. I know I paid 5,200.OO for a 2 year lease, which seemed like a good deal (especially considering the orginal price). My dealer had 4 other imiev's. I went back for the recall work 3 months later... I think he still had all 4 on the lot. I also saw Mitzi only sold 31 cars in March 2013. The big promotions of January and February must be over. Bottom line, these cars don't seem to be selling well. Bad for the country I guess, but maybe good for those of us who really like them.

 

[MatimalND]

I think he still had all 4 on the lot. I also saw Mitzi only sold 31 cars in March 2013. The big promotions of January and February must be over. Bottom line, these cars don't seem to be selling well. Bad for the country I guess, but maybe good for those of us who really like them.

Where are you located? There is four on the lot it Minneapolis that I have been keeping my eye on. Unfortunately for Mitsubishi convincing people that an electric will work for them is going to take time. Where I work all most everyone is a 2 or 3 car family, one electric car especially at the lease deals they have right now is a no brainier. I showed a friend a work where he could lease a Leaf for what he is paying for gas an that is only driving it only 8 months out of the year. Winter is a killer on range so his wife would need to drive it the other four months, shorter commute. So they would actually be making money. I am going to let him use my Leaf a couple of days.

 

[Vike]

In a few months when the early i-MiEV leases begin to expire, there should be some good deals on these formerly-leased i-MiEV's. The residual values are far to high for most lessees to buy when their leases expire.

I think they're that high for a reason. We're about to find out, but I wouldn't count on termination of those leases being a good source of cheap EVs. I have to believe Ally was only willing to write those crazy leases because MMNA (or even parent Mitsubishi) committed to buying the cars back at that unreasonable residual price. How many Mitsubishi will just "flip" back to used car lots or the buying public (at a significant loss either way) is hard to say, but it may not be many. Given the low volume of vehicles, they might even keep them all for research into the impact of real-world usage. This is pretty much what's happening with all the Fit EV and Mini-E leased vehicles, so it's not out of the question.

As with so many of my gloomier predictions, I very much hope I'm wrong. But I suppose we'll start getting the picture by year-end.