I wish it did hahaha. Unfortunately, customer cash is only for purchase/finance
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You are willing to walk away from $6300 so you can lease it?
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I didn’t really think about it like that. Given the current climate do you think it would make more sense to go with a balloon loan?
Yes. $6300 for purchase is a good deal.
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I spoke with the dealer and they won’t let me combine customer cash with the 1.9% APR finance offer.
I’m not too familiar with the balloon loan process. I know penfed used to do it. How should I go about it?
You have to decide whether a balloon loan vs financing/cash purchase makes sense for your situation. Either way, I would not lease it as you lose the $6300 consumer cash.
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you could order a 2023 at the reduced cost with the 1.9% offer if you can wait
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Thank you so much for pointing me in the right direction. I think the balloon loan may be the best option atm but I will do my research and update the thread
@Coach_P You might also take a look at this thread for traditional finance ideas:
You will pay more than 1.9%, but not anywhere close to an extra $6,300 in interest over the term.
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We don’t know yet if the 2023 will offer 1.9%. I’m guessing not.
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Take the $6300 via purchase and stack with GM supplier. You can balloon if you wish but even conventional financing via CU’s listed above will work out just as good.
I did the math on this a couple days ago, the interest rate on the balloon for the EUV is high enough that it made more sense IMO to finance. But that was my math Using my available lenders and rates.
I think you did OP’s legwork !
I learned on here that each CU sets their own balloon loan rate but I’m sure you calculated with the lowest available.
Given that Charge Up should be returning soon in NJ I would wait and see what that’s going to look like before I do anything. You might be leaving several thousand dollars on the table. I doubt that customer cash is going to go anywhere since there’s no way for them to move a 2022 at MSRP when the 2023’s will be that much cheaper.
Correct. I checked the ones I was eligible for, EUV interest rates were no bueno. Meanwhile I have a couple lenders whose rates are low and they aren’t impossible to deal with (I’m not touching DCU).
OP might have access to other CUs whose ballon has a lower rate, or lenders who rates are higher to finance.
I am only interested in an EUV with Supercruise, and it’s up there but not my first choice. Almost none on the ground, all have ADMs, and no deposits or wait list: first come / first serve.
At MSRP - supplier ($1500) - $6300 bonus cash - whatever state rebates you qualify for, it’s a deal. Locating one without ADM, not so easy. If this were my first choice, I wouldn’t screw around. NJ having no sales tax is a deal, and if OP can wait for Charge Up 3 might be even better, but I think the 22s are going to sell as fast as they are PDI’ed.
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What is GM supplier discount? anyone can qualify?
When you are selling your car your 2022my wont be valued more than a 2023my. 2023mys got an msrp reduction of $6300. So dont think you get great deal with $6300. It just brings it to the price of 2023my.
BUT if recall 2.0 happens 2022 will have a higher swap value.
I’ll take inflated MSRP with high discount over low msrp at list (or markup) any day.
That’s the greatest idea lol
Could try to get a credit union then, but IDK how long their rates will stay low