I’ve noticed ally bank is listing a high residual 24month (86%) on 2021 chevrolet 2500hd custom crews. Does customer cash apply to ally bank lease? I’d assume so but not sure.
Second question. Is residual based on zip or not really?
Zipcode 18049.
Purchase cash would apply if leasing from Ally. Not sure on zip affecting rv
Thanks. Any idea what base mileage is on ally lease residuals?
Search around on the Ally site, IIRC they publish MF / RV Info…it’s a link on the site.
Or do a search on here and I know it has been previously mentioned and / or linked. Ally typically comes with a higher MF to offset the high RV they are giving though it always worth a check to see first.
HD trucks typically do not lease well as most captives / banks would rather not go down that route.
Ally shows an 86% residual for 24 months. Called a dealer that uses ally and they said the payment is 589 a month for a 47k truck (after 1500 in rebates included). What am I missing here? High rate or not that seems wrong. I even double checked the model. Does it need a certain option to meet criteria? Doubtful but figured id ask.
You’re missing other inputs to calculate a lease payment, namely MF.
I was curious about this too. The residual is great but the MF kills it. I think without looking the base mileage is 12k and you add 1-2% to residual for 10k.
Also, the high residual is for the crew cab work truck (base). The 3500 is higher as well if I recall.
You’re missing inputs, but just based on the info you have if your only discount is the 1500 in rebates coupled with high MF from ally and add in some moderate dealer fees and it will come close to that number.
He said the rate was “low”(like 4% equivalent). I said well the residual is wrong if thats the case. Nice guy but some things didnt add up.
In just confused on how a tundra through ally with a similar r.v. (within 2%) and actual rebated purchase price (within a few hundred dollars) is 250+ less a month.
Ally MF/rates are typically very high, for my Chevy it’s 6% but I took that to get the 7500 in factory money.
Those tundras are often with TFS and the rates are not as high, and MSDs can bring them down significantly. Also there’s about a 3-5% discount if I understand correctly with the Crewmax. All taken together and compares to your no discount, higher MF and maybe higher dealer fees can definitely add 200 bucks a month more.
Anyways, you need a lot more info to figure out how you can improve your deal
Msrp
Selling price
Incentives?
Dealer fees and add ons
Rv and MF/rate
And then add in your taxes and dmv fees
Right now you only have 2 or 3 of those, you can’t solve for x if you have to 3-4 additional unknown variables.
To be frank, your confusion stems from your lack of knowledge regarding how a lease payment is calculated and can be easily remedied. Don’t rely on sales guys to calculate a lease payment for you. 99% of them don’t know how. You should fully understand the variables going into conversations with dealers and already know what payment you can achieve given the inputs. I think that you need to take a step back and understand how a lease payment is calculated before you proceed.
The best place to start is
Please read links in there such as “how to calculate payments” and other helpful articles.
It might seem like a lot but TBH there are fewer <60 minute exercises which will save you so much time, money and anxiety over your driving lifetime.
It may also save you (after your negotiations with LH input) inside the finance office where no one can from the internet can really help you.
Remember, it’s almost impossible to reverse-engineer the math starting from the output (monthly payment) and figure out if it’s a good deal. Start at the beginning.
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