Deal Check - 2024 Hummer EV 3X Pickup

[rbalayan]

I’ve been trying to land a deal on a Hummer EV 3x for a few weeks now and finally found a dealer with a unit that has the EV reservation credit of $6250 and is willing to give a 10% dealer discount.

MSRP: ~$101,000
Discount: ~10%
Rebates: $1000 Costco and $500 First Responder
Term: 36mo/10k
Money Factor: .00223
Due at Signing: $960 (First Month payment)
Monthly: $960 (including 7.75% tax)

When I run the numbers on the calculator, it shows the residual at 69%. There should be an increase in residual from the $7500 tax credit which would bring it to about ~77%. However, the dealer listed the residual at $73,176, which puts it at about 70.5%. When I asked the dealer about this, they said that the residual was reduced after 10/1.

Would the dealer be able to reduce the residual and profit from that? I was not able to find anything in Edmunds about the residual dropping. Your help is much appreciated!

Here is the deal:

[themachine]

The dealer has to use the residual set by GM Financial. They can’t change it.

At 36/10 the 69% residual is for the 2X or Omega Edition 3X. For the non-Omega 3X it’s 65%.

[rbalayan]

Thanks for the info. Do you think I could do better?

[rbalayan]

Should the residual be based off of the MSRP on the sticker reflecting the $6250 discounted price of $101k?

[themachine]

Yes, residual is based on the bottom line MSRP on the sticker after all options, credits, and destination charge.

There should be an additional rebate for the first payment waiver, incentive code QJF.

Also there is a $500 rebate available if you sign up for the GM Rewards credit card and spend $1,000 at the dealership on it, incentive code QJP.

[Jimzigg]

I thought that there was a period where you had to add back the 7500 to RV on these? Did that end in October?

[themachine]

There’s still $7,500 added to the RV. OP’s adjusted residual is 72.42% which is 65% + $7,500 for that MSRP.

[rbalayan]

Thanks for your help!