“Consumer Cash Program” sounds like a GM purchase incentive though, not leasing. Based on the Edmunds post above it sounds like a $250 dealer incentive for leasing. Need to verify availability of Conquest/Loyalty/Costco/etc to add to that.
There’s no point doing that. You need to ask for your area.
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For GM that’s not necessarily the case. GM incentives and programs are tied to the registrant’s zip code. So as long as the dealer is willing and able to do the deal it would be based on the incentives your zip code qualifies for. It’s just a question of whether or not the dealer in question is offering a deal worth making the trip for.
I just used any Residual and MF to verify I was using the calculator correct. I know this doesn’t apply to me and my area. This was just for me to run a test to see if I’m using the information correct on the calculator.
You’re definitely not getting that kind of discount on an Envision, or any GM product really. You seem to be inputting items correctly but you are deducting incentives from the selling price that are not eligible for leases.
True. And a perfect example of why one should determine the incentives before ever talking to a dealer.
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I understand that. But until you have a dealer quote specific to your zip and Edmunds info specific to your zip, what are you comparing your LHC output to?
Not comparing it to any other deal or anything specific. Just making sure I understand what goes where on the calculator.
A general rule of thumb for the OP: GM Residuals and Money factors are almost always national for a particular model and trim. Incentives can vary by region/zip code. If you look at the Edmunds or Autobytel incentive pages if you see anything with the word “cash” (Bonus Cash/Consumer Cash/Etc) you’re most likely looking at a purchase incentive that can’t be applied to a lease. Anything with the letters “CCR” (Cap cost reduction) attached to it would be an incentive that can be applied to a lease.
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Gotcha, thank you for the info. Just trying to learn as much as possible to make sure the deal we look into and try to get in the coming months is the best one possible.
So we are looking for a mid-size suv with 3rd Row seating. We test drove a couple cars tonight and these are the initial numbers we were given by the dealers
First was a 2021 Toyota Highlander XSE AWD
MSRP - $46,210.00
Sale Price - $42,913.00
Rebate - $500
Amount out the door with all fees $44,198.88
MF - .00176 (Confirmed on Edmunds)
Residual - 66% (Confirmed on Edmunds)
I said we didn’t want to do a down payment but I think he took it as no money DAS.
Monthly Payment was $528.00
Next was a 2021 Chevy Traverse LT AWD
MSRP - $41,045
Sale Price - $38,345
Rebates - $2700 (not 100% the exact breakdown but there was about $700 for First Responder/Front Line worker, $500 regular rebate and then the rest I believe cause I currently have a Chevy lease, so repeat customer)
Amount Financed - $36,609.90
MF - .00071 (Confirmed on Edmunds)
RV - 59% (Confirmed on Edmunds)
DAS - $768.53
Monthly Payment - $437.XX
How do they compare to the target prices you had worked out from researching deals prior to talking to the dealer?
Not 100%, I didn’t really have any target prices worked out. I thought you just went off the rebates off MSRP. But could possibly negotiate the % off MSRP down.
Talking numbers with a dealer is for finding someone to do your deal, not for finding out what they think it should cost. You should always work out your target price, based on the current programs and researched comp deals, so that you know where you’re trying to get to before engaging with a dealer.
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Well the goal today was just to test drive but of course dealers are still going to try and sell. So I was just trying to see if the numbers they gave us were decent or not.
Working out your target deal will answer that question.
Doing it before talking to the dealer also puts you on a stronger foundation for negotiations because you don’t broadcast in your initial discussion that you are an uninformed customer. You always want to set the stage in the best light.
How do you find out what your target deal is. I understand its the sales price but how do you tell what others have sold for or if its even a reasonable target?
We have a great repository of shared deals specifically for that as well as lots of broker listings to look through. Go through them and identify the pre-incentive discount amount and then apply that to your deal and then lease programs as they apply to you.
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When I look for Traverse’s or Highlanders not much comes up, or at least for 2021’s. Or they’re from last month or last year. So everything I’ve seen on this forum says you can’t rely on that info as its in the past.
That’s why you’re looking for pre-incentive discount. That data point separates out all of the lease program changes; a large part of why looking at monthly is useless. There’s no reason you can’t use pre-incentive discounts from the past several months to set a good baseline
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