I reached out to a NorCal dealer regarding a specific GV60P.
I informed them I was looking for a 36 month lease, 15k miles. They sent this back.
I am trying to figure out based on the “VIP Price” entry how that the monthly lease payment amount is so high in the table.
(1 row is with or w/o “lease protection”)
These make sense here? new here so any feedback or tricks appreciated. Attempting to include pix
You are a super supporter. You should see the RV and the MF. Put them in the calculator and find the discount.
I guess I am misunderstanding how to use the calculator.
RV is the same as shown in example (ie 37,469) and MF of .00254
If the Rate Finder reflects both a NonSubvented and Subvented option, do I select the Non Subvented?
You want the subvented option.
Post your filled out calculator attempt
I must be doing something incorrectly here, this cant be realistic.
https://leasehackr.com/calculator?make=Genesis&miles=15000&msrp=72055.00&sales_price=53815.00&months=36&mf=0.00254&msd=0&dp=0&dealer_fee=85.00&acq_fee=750&disp_fee=400&taxed_inc=13500&untaxed_inc=0&rebate=0&resP=52&gov_fee=0&sales_tax=8.25&demo_mileage=0&memo=2024%20Genesis%20-%20GV60%20-%20Performance%20AWD&tradein=0&fin_sp=72&fin_taxed_fee=0&fin_untaxed_fee=0&fin_term=60&fin_apr=0&fin_dp=0&fin_rebate=0&fin_ps_rebate=0&fin_tax=0&keep_term=60&exp_rv=0&service_fee=0&monthlyTax_radio=true&bmw_demo_25=true&lease_result_mode=true
Main issue is youre double counting the incentives by listing them and capturing them in the selling price. You need to separate them out of the selling price.
Looking at the same lease in WA. My quotes have been in the 900s. Are the 800s the best we can hope for?
Ah, thank you @mllcb42, that helps me a bit and makes sense. Thanks for pointing out. I was a bit confused where or how to account for.
I think this is closer (though not exactly what they are showing on the offer matrix)
I assume that is the “fat” that the dealer is keeping? I will ask the wider audience here also, is the “VIP” amount, I assume that is what they consider is the sales amount, still also gives them something, right?
Including a new link: 2024 Genesis - GV60 - Performance AWD
You went the wrong way there. You need to add the incentive amount back into the sales price.
The “vip price” theyre showing is the sales price minus all the incentives. So you need to add the incentives to the vip price to find out what the actual sales price is.
What’s your calculator for your target deal?
That’s more important than deconstructing any offers.
They appear to be burying some additional fees and taxes in the payment. Using the number you gave, the payment should be in the low $800 range. Are there any upfront taxes due in CA on a lease?
here is a thought. The 15K miles per year are costing you an extra $2K over th elife of the lease compared to 10K miles per year. Are you sure you need that many miles? how much would additionla miles cost under this lease at the end? How much could you buy them for during the lease if you see you are going over the 10K per year limit. If you are able to trade in the vehicle or buy it at the end of the lease, you would owe $0 in excess mileage.
Good point @max_g, I was looking to get to around 660-675 pretax / 720-735 tax. But was also trying to see if I was using the calculator correctly.
CA taxes are paid (as I understand it) monthly. I have to assume they are added in their maxtrix of number, but waiting to hear back as I realized I didn’t ask that directly.
thanks @Wtmeyer I do believe we will need those 15k miles for the 3 years.
I believe the per mile overage (based on what I seen on another contract from Genesis) is 25 cents.
Post a calculator showing that
I guess could get there by using something like this. Essentially lowering the MF
Updated Calculator
Sales tax on the incentive amount is due upfront in CA. Sales tax on the monthly payments is paid monthly.
The bank is going to set the MF. I think it is 0.00254 on the Performance model. You really need to get a breakdown of the discount vs rebate. I have seen different rebates depending on mileage. Edmunds says $16.5K rebate/lease cash for 36/15 but only $13.5K for 36/12K. There may be more room for dealer discount if he really wants to move the vehicle.
You need to separate the incentives and discounts.
You dont get to make up a mf. You need to know what it actually should be.