I think they are showing it just to show they are paying it off. The buyout at the end of the term is $31 something i can’t remember exactly, and i still owe 5 payments.
It is really difficult to tell if it is a good deal bc the trade is still being considered somewhere. Take the msrp, the pre-incentive actual dealer discount, then the incentives etc and plug them into the calculator using your state for taxes and the provided mf and residual. Make sure the new lease is also thru GM financial. Create an account on Edmund’s for the mf and residual of your particular car for your specific model, trim and desired monthly and miles term. I see you are in FL, which dealership are you working with?
The dealer isn’t just eating $3000 worth of payments, there is some hidden stealership tactics going on here. I assume you have major equity with how low mileage you have. Also also, be sure to check with GM financial for YOUR buyout vs a dealer buy out as a dealer buyout doesn’t include sales tax since they are a dealership. Your buyout may be 31 k, but the dealer buyout could be 28-29k without tax, netting the dealership 5k profit easy by flipping your truck in the case
The MF is .00153 and the RV is 62% on the new truck.
I looked it’s $31,8 on the buyout on my old truck. But that is at the least end. I still owe 5 payments of $535.14
You need to call GM financial and get what is called a 10 day payoff quote for dealer in inventory. They may give you the runaround that only a dealer can call to get this information, but you could tell a little white lie and say that you are Joe Schmoe calling from XYZ Dealership (just make sure it’s a real dealership). You may need to pretend to hand the phone over to verify account info. Once you do this little dance, that 10 day dealer pay off is what you need. Say it is 32k, and a GM dealer offers you $35k, you walk away with a 3k equity check.
Also, .00153 mf is equivalent to about 3.67% which isn’t terrible, but some leases are at 0.00001 (effective no interest on the lease) on some 2025 Subaru trims, so it is kind of subjective.
Hi and Thank you for responding. So are you saying that i may be better off trying to sell my truck to a Chevy dealer? I didn’t know that dealerships bought vehicles without buying from them.
I agree that they seem to have some hidden fees in the deal for that monthly payment. The difference between the final cap cost and the RV at the end of the lease is around 15,000. The monthly payments over 36 months add up to over 21,000
I just don’t really know what a fair deal is. And they are not ringing my phone with a better deal.
Thank you again for the help. I really appreciate it.
I am working with Cox Chevrolet in Bradenton FL.
Yes 99.9% of dealers will buy a car even if you don’t buy theirs. You can get a quote right on AutoNation.com and it will either spit out a quote right then and there or someone will call you in 10 mins with an offer. They do negotiate a little bit so get an online quote from Carmax and Carvana just for comparison and to gauge the market. You can do both of those right on line as well. No matter what you decide, you need to pull your current truck out of the equation for this deal and focus only on your lease payments and deal for the new truck.
That sounds like a good plan. I did tell the dealer that i felt like my truck was hurting me on the new deal even though they say they are paying it off.
I will go ahead and contact a few dealerships online and see what happens.
Thanks again for all of your help and input.
Happy New Year!
I think your being misled here. The best part of this offer you’ve shared is the trade-in value.
So you think the trade in on my old lease is fine. What do you think a good deal would be on the new truck with zero down or first month payment down? $560 and month? Or does it need to be lower?
Thanks for your help.
I just kinda feel like they would come off the price a little more on the new truck if my old truck wasn’t involved.