2023 Genesis GV70 Electric. Dealer info doesn't square up

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1

In SC trying to lease an electric gv70 from NC.

I’ve entered all their numbers into the calculator and it returns mid 500s. They keep quoting me 1012 for a 36/12 month lease. I feel like I am missing something obvious?

Last communication is below.

Thank you. I can call you at approximately 4:30 if that works? I would also like to make sure we are all on the same page. Please see the final numbers I have below for discussion. We can make sure that everyone is looking at the exact same thing. This is for a 36/12 lease.

If the 1,012 payment quoted is correct, total payments are 36,461.52 + 5,000 cap cost reduction +2,585 taxes fees upfront for a total of $44,046.42. I can’t make that reconcile to the other numbers provided.

36/12

MSRP 68,680

Discount from MSRP 0

Incentives 8500

Final Sales Price 60,180

Taxes and Fees (Paid up front) 2,585

+tax 500

+dealer fees 699

+government fees (title/registration) 236

+genesis is acquisition fee 750

+genesis disposition fee: 400

Residual Value: 37,774 (54.85%)

Capitalized Cost: 22,204 (sale price 60,180- residual value 37,774)

Cap Cost Reduction: 5,000 paid up front

Net Capitalized Cost: 17,204

Money Factor .00283 (6.792%)

Due at signing: 7,585 (capital cost reduction plus taxes and fees) + first payment

Payment: ?

2

you have the dealer sheet?

3

Your calculator inputs are incorrect. No way the lease is in the $500s with $0 dealer discount.

1 Like
4

Post a link to your calculator

5

Tell him you’re sorry but you have your shins polished on Friday afternoons, and take some more time to do research.

If you’ll post a calc link (even with errors) people are often kind enough to help spot discrepancies.

6

Thanks guys, I think I misunderstand the calculator. I am very new to this.

I see I messed up on the first go around…can’t figure out what I am missing now.

Sc sales tax is capped, it do I pay NC tax?

7

is there any good reason behind leasing one of these and not just financing?

8

Yes, it’s 3%

9

There is no field in the calculator for a fixed or flat $ amount of tax. So instead:

Enter 0 in the tax rate and add $500 to gov fees.

10

8500 dollars in incentives

11

MF appears to be marked up, so if I’m right this would be an “over MSRP” deal since the discount is $0.

12

Thank you Jon!

13

Thank you!

14

Thank you all for your input. I called the dealer again, went over number by number for all fields in the calculator. They still came back at 1012 a month. Wouldn’t “share the math” because I wouldn’t come to dealer which is 3.5 hours from home.

It’s a learning curve for sure and I appreciate everyone’s help.

15

Figure out what your target should be using the info on the forum and then make offers.

Deconstructing a stupid offer is a waste of time.

2 Likes
16

I could be assuming here but you are coming up at 777ish and there at 1012…some funny math i assume is going as others have said. Probably a mF markup. As others have said give them your deal. If you want to push this rock up the hill, I guess ask for a discount to reflect the mF markup.

17

In your calculator, changing taxed incentives to $0 gets you to $1012.

1 Like
18

Thank you.

Still learning…

Switching from taxed to untaxed means the dealer is taking the incentive and keeping it in the sales price?

I don’t fully understand the implications of that despite reading some previous post but I guess the practical effect is that the payment goes up 300ish a month.

19

here’s a valuable lesson - if they don’t want to be transparent with you there’s a perfectly good reason for it.

3 Likes
20

OMG.

I didn’t double check, but if this is true they’re charging $8,500 over MSRP and marking up the MF.

1 Like