Take a look at my deal I did at the beginning of August (but it was July incentives structure). I don’t think the numbers are too terribly worse. You can see the signed details here: SIGNED! – See what others paid for their leases
As others said, they can throw the other rebates into a check back to you so you avoid the negative depreciation issue. The GMF contract shows a slightly positive depreciation amt.
Hope this helps and good luck!
Edit: and for what it’s worth, I tried to put a deal together in MI since my brother lives in Royal Oak (and he is a GM employee), but they wouldn’t play ball. Which surprised me, but I ended up finding one very close to home here in GA.