Just some advice, if you cancel the contract you won’t get any cash, just your payments at the end are ‘refunded’
Why did you buy a Service Contact on a Car that has warranty?
Yet another reason to not go to the dealership. Have the deal hammered out and have your wife just drop you off to sign. Mistakes happen when your on their turf.
Did you buy a service contract or wear and tear protection?
well it was her car she had to sign…she has a six figure income (just as I do)…that was the issue…I retire from the military in 2 months, she’s still in the military so we had to keep SCRA protection without a hassle so we kept it in her name. It was Service Contract - 3/45 (since 3/36 is Bolt bumper to bumper…just Fidelity Term Care with the Rotor Protection…the price wasn’t that bad ($769) since it covers some consumable items, but I am not sure I will have to use it…good thing about Fidelity Contracts specifically this one is it is in writing that you can cancel directly through the company and not deal with dealer…I did this with my former lease so I know it works and no hassle…they just send a payment to lessor and it counts as a payment so no big deal. I don’t have payments for a few months then.
because we got 3/45 and the bumper to bumper ends at 3/36 so we are a little exposed. and yes I know I wont see cash. they count it as a payment so I wont have payments for a few months. I’ve done this before w/this exact company
I went to the dealership last night to get them to lower the msrp and the money factor.
They were taking forever working the numbers. I was there over an hour. I was done waiting. They kept coming out and asking me questions. Finally the guy said the residual is 52%, not 64% like in the original estimate. And he’s not sure how the original guy got 64%. So thats why they were taking so long. They were now closed, so I told them they could work on it tomorrow (which is now today) so we could all just go home.
Hopefully I’ll be hearing back from them soon. I’ll update you.
Stop going to dealerships until you have a full breakdown of an offer that can be properly vetted here first. Have them email or text you a detailed lease quote that shows the true out the door pricing for the One pay lease (assuming that’s what you want to do). Have them send you a detailed breakdown of the following:
MSRP
Sales price before any rebates and incentives are applied
A breakdown of the rebates and incentives they are applying to the quote
Residual value for the term you are seeking
Money factor
A breakdown of the taxes and fees that are being charged
Total out the door cost.
There’s no reason to set foot into the dealership again until you have all of that in front of you, you have successfully negotiated anything that needs to be negotiated and you are ready to sign and take delivery.
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Thank you so much! Will do. I’ll let you know what they say.
Delay was a tactic…the ole ‘let the criminal sweat before we interview them’. It took most of us just a few minutes to detect what issues were in the quote, and these guys are not stupid, they just think you are. I would tell them to get their sht together quick, or lose a sale, here’s my offer. This sideshow sht is what degrades the current sales model, and it must change.
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Well, they figured out the residual and yes it’s still 64%. They will not budge on the initial cap cost though. They are ‘at invoice’ and would be ‘losing money on this deal’.
I told them no one is going to buy this vehicle for 2% of MSRP. No wonder it’s been sitting there for 8 months.
He told me 'sorry they couldn’t make it work and good luck".
So is your payment still 242 or what?
Yes. Everything stays the same from the sheet I uploaded a couple days ago.
Well right now try to shop it around Nevada and see if you can get a better.
But still nothing makes sense on those numbers, payments, RV , MF don’t add up.
Remember though that a lot of the ‘deals’ you see here are regional, Northern CA has incredible deals especially if you make little money and live in SF and NY gives their rebates during the sale.
So you see some people here saying (I’m paying $180/m) but those only apply if you live there.
I’d just move on. They clearly have no idea what they are talking about. They didn’t figure anything out. Whoever is desking this deal is just making numbers up.
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Did you try Carson City? After that you might have to try a California dealership. Pickings seem slim in Nevada.
Well Carson City has 9 bolts on stock. Only 1 is the Premier, the rest are LT. I guess I will call them, but I don’t see them going lower either. These dealers seem to not go lower on msrp because of all the rebates.
I am leasing in Maryland and received this offer on a 2020 Chevy Bolt Premier - (including $3,000 Costco incentive and loyalty $1,500) - 10,000 miles for 36 months. What do you think? Any advice? The dealer seems to not be too interested in providing the details but this is what I have wrestled out of him.
MSRP: $44,165
Selling Price: $38,741
Monthly Payment: $330
Drive-Off Amount: $0
Months: 36
Annual Mileage:10K
Cap Cost: $8,250 inc. lease loyalty
MF: .52
Residual:$22,900
Wait, that includes Costco? It’s at least $100/mo too high for a monthly lease. Cap cost number doesn’t make sense either, not sure what that is referring to. The selling price seems reasonable, so this should doable but the money is disappearing somewhere. What’s the tax?
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I’m in Virginia (Nova) and worked a deal for $235/mo with first payment due at signing on a $44k MSRP Bolt Premier. Ended up being ~14% off MSRP before rebates and incentives. This was on a 36/10 lease.
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Thank you both! I responded and asked him these questions. The dealer is sending me emails with 3-5 words in each message, which is pretty annoying. Probably time to check other dealers in the area to see if they are more responsive and transparent.
Wow, $235? That’s amazing, nice work!!
That’s great, considering VA’s lease taxes and dealer fees are extraordinarily high.