I just signed a lease last week on a 2017 Malibu. I consider myself well informed, I used some online calculators and knew I wanted my payment close to $300 with the options I chose. I feel as if some shady business was done in the F&I office.
MSRP - 31,740
Gross Cap - 29,495.68, but in the column to the right it’s adjusted to 31,059, an increase of 1563.
Residual is 17139, spot on for the 54%.
Rent charge is $905, which should be based on .00050.
My agreed payment was originally $313. It was raised to $335 because I added gap insurance. This was through Ally. They switched me over to GM Financial, for an unknown reason. I called GMF and was told gap was included. Now I’m pissed. I returned to the dealer and they stated the money factor was higher with ally, but no Gap insurance, so he switched me to a lower Apr GMFinancial that included Gap, which saved me about $4 a month.
Did I get screwed somewhere along here? I still only put down the original $313 at signing, nothing else, but I always beat myself up after the lease is already signed. I am planning on getting another Chevy in a couple months but don’t want to give them the business if they were shady about something.
I am not sure but it does not look like you got any dealer discount just 1750 in rebates. Plus gap insurance they would need to give it back to you. I do not even see it in the contract.
Sticker was 31,740 shown at the very top. $29495 was the sale price. I see it was put back up to 31,059 after the taxes and acquisition. He said the gap isn’t in there because gm financial includes it, but their money factor was higher.
Yes, but sales price of 29495 minus 1750 in rebates would have a final price of 27700. At least that is the way i see it.
You are correct. But when you add $595 acquisition fee and $968 in taxes, you get $29309.