Check my Calculator Math? - 2021 Chevy Bolt w/ Costco

Location: Ohio

Hey guys,

I’m new to the process and learning a lot from the forums. I’m trying to put together a prospective lease deal to test my ability to use the leasehackr calculator, and if I have done it right, I’m hoping to just shop this deal to the dealerships in my area. Would you be willing to check what I’ve done?

The numbers I’m working from:

$0 drive off, 222 monthly based on the numbers below

2021 Chevy Bolt LT w/ DC FC
MSRP $38,245
Selling: $28,245 (based on Chevy website “price after offers”)
36 months
10k miles
RV: 53% (based on offer a local dealer sent with RV set at $20,269)
MF: .00063 (based on same offer from local dealer)
Taxed Incentives: $3,000 (Is this the right place to put the Costco rebate?)
Acq Fee: 695
Dealer: 250
Gov’t Fees: 122
Tax Rate 6.75%

It’s highly likely that the Chevy website selling price offer includes a number of incentives that you may not qualify/are for purchases only. You’re not getting one of these at 25% off pre-incentive

We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.

  1. Read Leasing 101 (EDITORIAL | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
  2. Pick a specific vehicle that you want to target
  3. Gather the current MF, RV and incentives from Edmunds forums for your zip code
  4. Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
  5. Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
  6. Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.

With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.

Thanks for the reply. I’ll do my homework on the items on this list.

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