The question I have is doesn’t every (most?) leased EV get $7,500 lease discount as its considered as “commercial” vehicle? Or, is that specific to certain manufacturers?
Trying to see if $7.5k is applicable to making a lease proposal for a Blazer EV lease.
The bank receives the $7,500 federal rebate since they own the car. The bank choses to give some rebate to the customers. In this case, the bank is giving you $2000 in rebates.
Thanks for the responses. I understand it better now. Definitely not a bad deal with the credit boosting the residual value. (I agree that the residual will be nowhere clise to 82% in 2 years.)
A side question about potential discounts… i can get $1,000 for being a Costco member (with a certificate). Is it possible to get a friend of a GM employee discount ($1.5k) if a buddy works as a full-time mechanic at a dealer? Or, is this only for corporate employees with a desk job or at an assembly line?
Yes to Costco, as long as you’re already a member, or a former member and can reactivate your old account (generate a code from their site).
A dealership employee isn’t a GM employee; I believe those are separate programs (I noticed different [higher] incentives in June for dealership employees when I was stabbing around exploring the LYRIQ programs).
If you know someone who qualifies for Supplier they may be able to share an Authorization Number with you.
I generated one for my spouse on 7/1 (“Spouse” is no longer an option on my account… I believe this is an annual limitation).
A. Gross capitalized cost. It lists the agreed upon value of the vehicle ($xx,xxx) and any items that you pay over the Lease term (such as service contracts, insurance, and any outstanding prior credit or lease balance.)
On the right hand side, I’ve noticed that most leases have the same value listed ($xx,xxx).
Should these values be the same?? Or, if different how to calculate what goes into the higher cost? Or, simply a dealer making a quick $ by altering the line?
It means they’ve capitalized some fees. There’s a separate section in the lease that itemizes what’s been capitalized.
This isn’t dealer shenanigans, just a matter of how the lease is structured. For sales price in your calc, you use the agreed upon value in parenthesis.
Thanks for the explanation. I can see the breakdown in Section 12.
Is there an advantage to getting the lease done one way vs the other? Or, does the numbers come out the same? (Or, just depends on which state you live in?)
Spend more time here in the Wiki learning how to lease and how to use LH calc…the more you cap the more interest you pay over the lease term increasing your payment…if MF is lower that can be OK but if high it will cost you. My general rule is to only cap the acq cost…pay upfront taxes, dealer doc fee and license/reg fees as part of DAS.
Ah, that makes sense. Definitely needs to read up more on the process.
Regarding what you mentioned about either capping more VS just acq fee, can I as a customer request just acq fee over the other? Or, will F&I guy try to force it one way to get more interest out of me?
This is really eye opening and actually fun… trying to beat the dealer at their own game.
