Can anyone explain why the check back for $21,665?
Likely because the deal wouldn’t otherwise fund because of negative depreciation. When this happens, they can contract it at a (higher) price that will fund, and then dealerships can cut check for the difference.
That’s correct…this is a CRAZY negative depreciation deal so the gross cap cost had to equal (or be slightly higher than the residual) so that GMF will fund the deal. As long as that happens, they dont care what dealer sells the unit for.
Based on my deal and structure, dealer has to cut a check back for the difference which was the $22K.
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It won’t give you much since contract won’t show cash back from the dealer
Congratulations and amazing deal! I’m in Texas as well trying to get a Hummer ev. Can you please post the leasehackr calculator of how this deal was structured?
that’s the unicorn of unicorns. Hands down one of the best per dollar ratio in the forum congrats!
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Wouldn’t do you any good since it’s no longer possible and 2025 support sunset probably won’t come for at least 3 if not 4 quarters.
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Ahh so the 2024 is no longer leasable?
No they aren’t. Posting any type of numbers is useless cause OP got a check back.
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Especially posting before having the car in your driveway, the check in your pocket and the contract funded.
This was the screenshot and email from the GM. In case people thought I was blowing smoke.
Like others stated, it will not help you in any way becasue theres no 2024 lease support anymore, and there was almost $22K negative depreciation given as check back.
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Hats off to OP. Clearly worked hard on this for months and it paid off. Can you share a little bit about the discourse that lead to the check back? I’ve found a lot of dealers shut the door when I mention a check back to offset negative depreciation. I suspect that there’s a luck factor involved and not all dealerships are willing to structure a deal in this manner. Any advice is greatly appreciated.
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It’s not about asking for a check back, nor a payment…it’s knowing how to structure the deal and focusing on having backup to support what the depreciated value (or selling price that goes on the contract) of a vehicle is. Noone was wanting to sell their CTP omega for $90K. And then agree to buyrate with no dealer markup. Once you attain that, everything else is easy becasue the structure is straight math. Once i saw the 24 month conventional made no sense, and i looked at the 36 onepay i immediately asked them to change it. The price was the hardest part and why it took forever to find a dealer. Also the fact they were in texas was a huge plus.
Hacking is not only solely a game of numbers or knowing how to calculate depreciation, rent, or lease program and incentives….but also luck. You have to be on the right vehicle, at the right time, with the right dealer in the right conditions. Once you know that, the math is the math. You should then be versed enough to calculate where you should come out to yourself and ensure it aligns with what the dealer comes back with. Or close enough
In this case, i was. And i chased something he had and rolled the dice that someone else wouldnt offer more for them to take the deal. The reality is the verhicle is not worth $90K..i know it’s less but anything in the $80K - $90K for an untitled omega was not something anyone would ever do. I had a datapoint and logic which i showed them that i think convinced them to do the deal and get rid of it so they didnt have to roll the dice and send to auction this month (or whatever else they planned to do if they didnt sell it)
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What a crazy deal. Hats off, and thanks for sharing the details!
Trust me, it’s all in the eye of the beholder. I read your post and didn’t sense any shenanigans. You legitimately wanted a tweak, at the dealer’s terms, not some new terms that you made up. It’s just that their rigid process made that challenging once they got the ball rolling. However, anyone who has ever worked at the higher echelons knows nothing is really ever written in stone. You just had to talk to the right people.
Congrats on this amazing deal! Enjoy the car! You sure worked for it.
Thanks….i had 5-6 dealers all willing to sell at $100-$105K and i just wasnt looking for that. I guess you could say chasing a needle in a haystack and i knew if it was going to happen it would only be the last day of september and thats exactly what happened. Yes, i worked my a$$ off in the time invested to put it together.
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how much more did the 100k price adjust the payment to? I am thinking I can handle 100k, depending on payment haha!
Very simple math. Probably $300 more per month. Assuming you qualified for same incentives as me. But it’s a moot point becasue 2024 hummers dont have any lease support anymore
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ah thanks! I didn’t realize the 24’s lost support!