# Can someone help me out with MF question

So I’m getting ready to finalize on a Chevrolet Bolt LT and I noticed their monthly payment did not match up with the calculator. When I scanned through the agreement, I noticed that the rent charge seemed rather high. So I started doing some further digging thanks to the article on here about how to read a lease agreement .

Dealer quoted me at \$229/mo for 36 mo. 10K w/ 5K down - they insist the MF was .00051 (1.22%) and RV is 53% but I’m very skeptical.

Because when I calculate MF based on their numbers I’m getting .00146

(2507.64 / 36) which is \$69.65 monthly

Adjusted cap cost (\$25631.37) + RV (\$20503.05) = \$46134.42

69.65/46134.42 = 0.00150971877 .0015 is not .00051

Am I doing this right? Why am I getting charged 3.62% when I was told 1.22%

Has anyone else ever found a dealer to charge you a wrong MF then what they’ve claimed. I told them I was holding off on signing until I look into this more.

When I use the calculator with these numbers and a MF of .00051 - I get \$178/mo. That’s a big difference

Where are they getting \$229?

I attached my purchase agreement and another sheet showing monthly payment w/ \$5000 due at signing.

Thanks for helping!

Post your calculator, it’ll help to make sure there aren’t any other issues

I think you’re the first person to ever read my article based on the majority of posts we get

Anyway, none of this really matters without knowing what the base MF is - what does edmunds say? GM maximum markup is 0.0004 IIRC, which would make this story quite impossible unless you have Tier 3 or 4 credit.

Also, the calculator is satan because 99% of people don’t understand how to correctly input the variables…you’re way better off hand calculating the numbers.

As I always say, feel free to just ask the dealer how they calculate the lease payment if you feel like you’re missing something.

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I posted it for you

Thank you for that article. It helped a TON. you know if it was a couple of dollars, I wouldn’t mind but \$50 a mo. is a HUGE discrepancy.

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Yup, definitely .0015 off that contract

Have you checked with Edmunds as to what MF should be?

I’m also confused why they’re charging \$231 for the acquisition fee

That’s not lease acquisition- that’s vehicle license fee. Yup they said .00051 - I’m frustrated by this because they said there’s nothing they can do. Do I contact someone at GM? That’s a significant difference.

Well I’m that case, why are they not charging an acquisition fee?

Did you sign the contract already?

Do you have the .00051 in writing?

Acquisition fee is lower, can’t see it. Have not signed the contract. No? Should I just say when I go in Wednesday I want the .00051 in writing?

Oh, gotcha. They just have it listed elsewhere on the contract.

Before we go any further in the mf discussion, what does does Edmunds say for RV/MF/incentives for April?

LT
.00051 and 53%
\$6750 lease cash

Did the dealer give you .00051 in writing/email?

No - but he kept showing me a screen tonight that had it listed. I have an old document somewhere that has it the MF plugged in but it’s an outdated quote.

That rent charge is way too high. If they say they are putting in .00051 and it’s not reflecting it. I am not sure what else to do. Frustrating.

Send them an email outlining the deal you want, in excruciating detail. If they can do it, great. If they can’t, walk away.

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I’m reading up and it sounds MF mark up is a very real and common thing with dealers. They are able to mark up 2.4% - ironically 2.4% mark up on my quoted 1.22% is exactly 3.62% the amount I get when I compute it on my purchase agreement.

Yup, mark ups are very common. That’s the main reason I was asking if you had .00051 in writing or not. A lot of times when things don’t match up it is because someone assumes the dealer is giving them buy rate when they’re actually marking things way up.

In this case, you’re at an 8.2% pre-incentive discount with the mf mark up. If you adjust for it, that discount is actually about 3% pre-incentive.

I feel bad because the guy has worked really hard for me but one thing I can’t stand is someone who is trying to play me. Based on the purchase contract, those numbers do not add up to .00051 but .00146.

At this point, I wonder if they even are willing to budge. I really do want a Bolt LT in the Oasis Blue and they aren’t many left around here, especially with most dealers closed.

Only thing you can do is make an offer and walk if they don’t take it