Hi Leasehackfr community. I’ve recently started to look for a possible lease on 2020 Bolt. This is one of the dealerships that provided me with a worksheet, however I feel like there is more room for a better lease payment. Can you provide some insight and advise on how to proceed with next response to them. Thank you.
It seems like they are giving you a dealer discount of $0, so clearly you need to work on that of that is the case
1 Like
On an LT you should be able to do better than that. At least 3k off msrp.
I know there is like $7,250 rebate for LT… What is the rest of that incentive made of? (The $10,250)
I did ask them to break down the incentives and discount. This is what they provided me with: Incentives total $10,500 ( GM Competitive Lease $500, Dealer discount rebate $2,500, Customer Cash Rebate $8,500). Money factor is 0.00051
That was my initial thought. I think it’s only incentives they added and no dealer discount at all.
Well that’s 11500 there. They only have 10, 250 listed.
I’ll have to double check with them on the total amount because the worksheet is different from the breakdown they gave me.
OK, full disclosure: I’m a total newb who just started researching last week because of the crazy discounts. Lease Cash on the LT is $7,250. They added the $2,500 Dealer Cash they get from Chevy as a rebate (instead of a sales price discount) and tacked on the $500 Conquest bonus to get to $10,250 in discounts.
They’re still essentially charging you full MSRP, so there’s plenty of room for negotiation. I’ve seen several reports around here of between 12 - 14% off MSRP on Bolts, so a sales price of about $35k on that top line. That’s usually including the $2,500 dealer cash, but you’re still entitled to $7,750 more in rebates for a price before taxes/fees of around $26k.
Thank you for the detailed explanation. I’m still waiting for a reply from them in regards to the Total amount of rebates Not matching between the worksheet and the breakdown they provided me.
I would aim for 14% off MSRP factoring in the $2500 dealer cash.
2 Likes
Ok thanks. Will try to negotiate with them since they literally have offered zero off from MSRP.
1 Like
I got confirmation from dealer stating |Retail Price:|$40,110.00. Sales Price:|$38,341.00.
Before any incentives are applied. When I apply the numbers in calculator with 10,250 incentives the payment comes to $262 with tax, however with $1700 due at signing. The deal says the upfront costs are 1,043 and 295-305 payment. Is there anything I’m missing? I’m a bit confused with monthly payment being different.
They should be using the $2500 as a dealer discount, not a rebate you are taxed on. So the rebates should be $2500 lower and the dealer discount needs to improve by $2500 for the numbers to line up.
1 Like
Hi everyone,
I got another lease quote from a different dealership and this is on a premier model. On the lease sheet it shows a monthly payment of $305 however they are deducting another $500 for having a non GM lease. The monthly payment comes down to $291 with only first month due at signing. Any thoughts on this and is there any possible room for additional discount?
This is super solid, IMO. They’re giving you a 7% reduction before the dealer cash and applying the base money factor. If you ask the dealer to apply the $2500 bonus cash for a further discount to the “purchase price” rather than using it as a rebate (which are taxed), it should give you a 13.3% discount off MSRP and reduce your payment to $299/mo if I’m using the calculator correctly. Not a huge difference, but something.
Two questions:
- Are you sure this is an LT? Thats MSRP looks like a Premier to me.
- Where are you located if you don’t mind sharing? These quotes are very competitive…
This is a premier model and actual payment comes to 291 with the 500 incentive they add for a current non GM model. This is the better quote I got from other dealers. My initial quote was for LT model at 295-305 p/mo. I’m in Illinois.
I’m looking to lease this for my wife and looking to be somewhere in the lower 200 payment. Not sure how much lower I can get from the latest quote I have received.
I just noticed that the sales taxes shows 1740. When I do calculations based on my county of 7.25 it’s nowhere near that number. Anyone know why it shows so much higher? I’m not in the city of Chicago which I believe they get taxed an additional 9%. If there is an error with the taxes and get reduced accordingly I should be at the 260 range per month.