Am I hacking this EV deal correctly?

Ask the Hackrs
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My 2014 Mazda unfortunately is done for. Almost 175,000 miles and I think I maybe put 3000 of fixes into it. Great vehicle. Anyway…

I need a new vehicle and I’ve been looking at the EV trucks. I landed on the Chevy Silverado LT because of the great residual value compared to the GMC Sierra EV and the Hummer pick up. I did notice that the Chevy Silverado had a higher money factor compared to the other two and I was considering on doing a one time lease pay to reduce the money factor.

Is that one way to hack a deal? To me, the Sierra and Silverado are pretty much the same vehicles, but have way different lease terms. They’re almost the opposite with the Sierra having a low residual and lower MF compared to the Silverado.

Assuming I have the money, doesn’t it make sense to go with the Silverado EV where I can get the high residual but then lower the money factor by a one time lease pay?

I’m also looking at a loaner Vehicle to hack the dealer discount. Any thoughts would be welcome. This would be my first lease deal.

The other reason why I’m leasing is, I just don’t know what vehicle all one and three years and consider considering the huge dealer discount on these I thought why not splurge for 24 months.

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Become friends with @Siejammy or @moodyhank

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The best deals are going to be in 2024s when it comes to the demo cash. Some things to consider-

  • Yes doing a 1 pay will give you a nice savings with this truck so long as you’re good with dropping $18-$20k up front.

  • This deal is really optimized if you have a supplier, Costco exec and qualify for the $250 conquest. Supplier adds $2k to the rebate stack and is critical

One dealer I was introduced to (thx @moodyhank) was offering $615 a month with fees due at signing which was inclusive of local tax (7.75%) on a $96k RST for 36/10. Between rebates and discounts it was just about $16k - $17k off. I don’t think a 24 month term works on these unless you can find a dealer to go deeper or you have state rebates that further reduce the cost.

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