What are concerns when leasing a loaner with increased miles? Do I extend the time/miles to allow for the full mileage? I read the miles on the vehicle at the time of leasing is included in the initial purchase miles, thus reducing the amount for the first year.
IS THIS A GOOD DEAL
or is the dealership in Atlanta trying to pull a fast one!!!
I Just walked out the dealership when I saw the MF (money factor) = 0.00245 - Is this correct?
I am new to the community (5days) and this is my first lease.
After, researching and reading previous @SIGNED! success stories, I attempted my first lease negotiation. The numbers I calculated on Leasehackr calculator is nothing compared to what was presented to me tonight.
I have 2 days remaining to get the GM $6500. loop-hole incentive
Discount: $7500 (loaner vehicle discount)
Rebates:
GM Conquest: $2000.
GM reward Credit Card: $500.I plan to get the GM reward card sing up.
Rebated not allowed/did not use:
Costco: $1250 - expired (not available)
GM supplier: $1000 dealership advise this can’t be stacked with the others. (Either use this one only or stack others)
.
24/10k
$0 down
no trade
Dealership shows (not sure how they got these numbers)
RV=48,100
MF=0.00245
I am also trying to get a decent deal on a new 2024 lyriq sports 2 model with ~76k MSRP and was quoted one pay $8200 for 24 months 10k miles lease as I qualified for conquest incentive only. Any suggestions?
Open a GM card to qualify for additional 500 rebate. This also benefits you because you can charge 5K of the one pay to it and kick the can down the road on that balloon payment for nine months without interest. This way you’ll only need to cough up 2700 at lease inception.
Your deal is not “decent”, it’s great. Especially when you consider the impaired residual for being a level 2 and a 2024 model. Not much to think about here.
Residuals for level 2 and 3 are usually lower than for level 1. So you’re already swimming upstream as a result. And since it’s a 2024 the residual also drops since the car is older notwithstanding that it’s technically “new”.
Only reason you’re getting a great deal is because GM is boosting residuals this month and it’s offsetting the impairments I noted.
8K one pay on level 1 is good, but on level 2 it’s great.
I forgot to add that with GM card signup that there’s an additional bonus offered from Costco if you have a membership. It’s buried deep on their page…
You would need to generate Costco Code before you go to dealer, but open GM card while you are with them to qualify for the sign-up rebate. It’s complicated but essentially you need to link your Costco account with your GM rewards account.
So if you open a card account you’d get
76K / 5 = 15200
Bonus = 10k or 12k depending on membership level.
Each point is equal to one penny so the points turn into 252 or 272 dollars depending on membership level. Consider it a post-sale rebate since the points can be used to directly pay down the balloon payment of 5K. Just some extra “money” on offer to sweeten your deal. Between the points bonus and the direct lease cash rebate this turns into 750 dollars.
