I am calling around different dealerships to see which dealer offers a lease rebate for a phev.
I am in California and was only able to find the following doc online:
I am trying to do a lease / immediate buyout and would like to know the terms of an ALLY lease. Since I will have to take a flight out of my area (most likely out of state) to get a good deal, I wanted to make sure the terms are ok.
Within the terms, I want to ensure that no early terminate fee applies to an early buy out.
Additionally, I want to make sure that I can early buyout WITHOUT having to pay for the remaining Rent Charges.
There is no early buyout fee except for the disposition fee with Ally, why not call them and find out-may be easier than waiting for the answer here
I leased a Tacoma with Ally in 2021 and sold to a 3rd party in CA, all they paid to Ally was my online quote from my account… Yes things may have changed since then, so call them and find out how they structure leases now
Ask the dealer for s copy of the Ally Lease Agreement for you to examine. If you like, I will provide you with a detailed analysis of what your buyout would be. If it’s like most agreements, your buyout would be computed as follows…
First, compute the adjusted lease balance (ALB) during the first 30 days…
ALB = (ACC - 1st base payment) x (1 + RATE)
where ACC is the adjusted capitalized cost and RATE is the periodic (monthly) interest rate used to amortize the lease. Lease contracts refer to it as the actuarial or constant yield rate. RATE can be calculated using Excel’s RATE function with the following syntax…
RATE = RATE(term, base pay, -ACC, res value,1)
In addition to the ALB, you may owe a purchase option fee plus any applicable taxes and fees. There are no early term fees as you would be exercising your purchase option. Your buyout will likely be close to the ACC maybe a few hundred more.
