When I signed my lease, the paperwork wouldn’t go through the bank because the adjusted cap cost was lower than the residual. They even had to call back people to redo their paperwork that had done the same deal earlier in the day.
I doubt this deal would go through, but its moot since the original poster walked on the deal.
They raised the sales price to get the adjusted cap cost above the residual (by exactly 70 cents) and covered the difference by giving me what was essentially a $103 gift card to the parts and service department.
They offered to also drop one of the rebates, then apply it retroactively once the paperwork went through and to write me a check for the difference but said this would take longer to process so I just went with the first option.
That’s all dealership works not customer related. Only wait check from dealer later??
Anyway price stattled no matter what total ur money out of pocket is same, right??
We just need to get best deal then let the dealer deal with bank
Just to update everyone,
I called up the dealer and the same salesperson (Monica) who has helped @Zola
It seemed like they are honoring the $990 price as long as the vehicle is tagged and has same MSRP.
They said no to shipping out the car though.
So anyone who can walk into the dealership should score it, and they have many cars with eligible MSRPs.
(not sure which how many are tagged - GM website should tell you that)
I really want to see someone from Hackr community to get this car at $990.
No. I saw other post and tried to get better that’s what happen to me. Just met right person right time or someone massed up number so cheap. And so many thing can change price such as rebate tax doc fee title discount mf rv etc etc. vary by different location I guess.
Any deal where the final payment is below the amount of taxes and fees seems to be suspect. In this example, as many have noted, the adjusted cap cost is less than the residual - GM Financial is therefore agreeing to ‘sell’ the vehicle to someone now for a lower price than the proscribed value in 2 years. Doesn’t pass a logic test.
I understand how this happens due to incentive stacking, and have done a similar transaction where the depreciation amount was only $115. But, in this example, GM Financial or the dealership are contributing to the actual cost of the lease - meaning they are paying the lessee (a portion) to lease the vehicle.
I wonder if there can be future pullback from GM Financial once someone figures this out? Or, is the value of getting the vehicles off lots worth the net negative?
Since you did not go through with the deal, we will never know the answer of whether the dealer will send check and price stated no matter what. From my understanding, if Bank does not approve loan, they will ask you to return car to dealer and/or redo/re-sign the papers
Then what about. Advertise letter from dealership says I’m pre qualified for $5000-35000 Of course my credit score 800
It’s all non related. no matter what bank says no means no deal??
If bank says no and dealership wants car back resign paper. Can I cancel lease contract??
Ikr it’s really hard to cancel paper sign contract unless pay penalties.
I’m pretty new and current Prius was my first. This is question.