I can’t do the lease calculator yet because they still need to run my credit to get the Money Factor, but this is the lease offer sheet I just got. I am attempting to trade in my 2019 Chevy Equinox. I’m located in Buffalo, NY if that helps.
2021 Chevy Blazer
- MSRP - $38,070
- Selling Price - $ 36,609
- Rebate - $3,000
- Gov’t. - $224
- Doc. - $175
- Trade Allowance - $20,000
- Trade Payoff - $17,151
- Adj. Cap. - $32,570
- Residual - $23,223
Their lease offer sheet has a mf listed on it… is that buy rate?
How much did carvana/carmax offer to buy out the trade?
Whoops…I’m really sorry about that! I didn’t realize that when they ran this offer, they put in a MF based on “average” credit. My credit is 750+, so I’m not sure how much that will push the current .00193 amount.
Sorry for being dense, but is that something I would just call and ask them, and not something I can calculate based on numbers given?
Is the trade leased through chevy? If not get offers from autonation,carvana,vroom,algo,gmtv etc. if it is, get offers from those listed above and try to match with local chevy dealers
You can find that on Edmunds. You can also call the dealer and ask but Edmunds route will be easier and less drama involved.
That’s a value that you should have worked out before ever talking to a dealer.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
- Read Leasing 101 (EDITORIAL | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!! While you’re at it, be sure to watch the LH video (How to Use Leasehackr - YouTube) to brush up on how to most efficiently use the resources here.
- Pick a specific vehicle that you want to target
- Gather the current MF, RV and incentives from the LH Calculator - Lease Program Query or Edmunds forums for your zip code
- Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
- Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
- Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
Looks like a good starting point, your money factor should be lower. Surprised you were able to find a Blazer anywhere. There’s none in rochester
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