Here is the deal I am offered.
New to leasing and EV’s.
Bueno? No Bueno?
What’s your target deal?
Don’t reply with some number for a monthly payment.
Post a calculator showing what discount gets you to that payment.
They gave me 2750 off the price and then 7K down to get that monthly price.
I am sorry, I am very new to a lease, so I am not 100% sure where to start.
I also tried the calculator but not sure what it is telling me to be honest.
I am a noob which is why I came here for help.
Calculator:
You should be able to get deal closer to 7-10% off MSRP (Discount on this sheet) - there is a lot of inventory depending on where you live.
I also wouldn’t put down that much money unless you absolutely have cash just laying around. Most people opt for zero DAS (due at signing).
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Here is my LH Calc…
There are some caveats…
- The dealer has incorrectly computed the 760.29 sales tax. It should be 7.00% x 7000 = 490. The dealer used 7% to compute tax on the base monthly payment so I assume the sales tax rate is 7.00%. The only taxable amounts are the monthly base payment and 7000 of the 7026.16 cap reduction. The 26.16 is part of the 500-trade allowance. I’m assuming that your state does not tax trades.
- Nowhere in the dealer worksheet do I find the 695-acquisition fee. This fee must be disclosed in the lease agreement so they can’t bury it in the sell price. I’ve performed all calculations manually. The only calculation that is incorrect is the capped sales tax… makes no sense.
- The worksheet should be taken with a grain of salt. The only items that require attention are as follows…
a. The dealer discount of only 2750 (4.3% off MSRP) is a slap in the face. I agree with @Beagle … shoot for 10% off. Check the .00194 MF and make sure it is the buy rate. Check Edmunds for buy rate, residual factor, rebates/incentives… Edmunds
b. Do the research and create a target deal as @max_g suggests.
c. Create a lease proposal and email to dealer. Negotiate via phone/email. When you have a deal, ask dealer to send a review copy of the lease contract BEFORE you sign. This is to ensure that there are no surprises when you go to the dealership to sign. Also, be sure to get a copy of the factory window sticker.
Here’s a sample lease proposal…
??? Let me know.
I hope they not charging you for having the girl typing this up so nice and fancy
They don’t do that anymore. Unfortunately, it’s a whole new era.
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Its my understanding that GM recently waived the acquisition fee
That’s not a freebee. If they waived it, you’re paying a higher money factor in exchange and is why I suggested that you go to Edmunds to check the buy rate. The .00199 seems high.
There are some banks that have an optional acquisition fee waiver in exchange for a higher mf, but in this case, GM financial is not charging an acq fee across the board and there is no additional mark up beyond buy rate for that.
Wow! That’s news to me. Have they eliminated the acq fee? Is this permanent or, is it temporary… kind of like a promo for a limited time only?
Probably just a temporary promo. Some banks do it on specific vehicles/trims and/or for specific lease terms from time to time. Likely trying to push a certain return date to balance used inventory, etc.
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That makes sense. Thanks!
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