Working on an XT6 for my Aunt and Uncle. Confirmed through Edmunds the base MF is .00003 and residual of 56% for 36/10. Edmunds said there’s no rebates but this is showing $3500? The discount isn’t great so I’m sure there’s much more room. Unsure how to put this in the calculator… Any advice is appreciated.
I would confirm that they’re using captive financing and not a 3rd party bank. You’ll also want to verify what mf the dealer is charging. They’re showing “3%” under the plan mileage here, which is very different from .00003, assuming that’s what that’s tied to.
Have you read through the calculator FAQ for how to fill it out? It’ll walk you through basically all of this.
I have and watched the video. I know how to fill everything out but the question is where to input the 3500, and also why didn’t edmunds identify it.
Thanks.
You’d put the incentives in the taxable incentives area.
Edmunds occasionally has inaccurate information.
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Put the $3,500 as an untaxed incentive.
I see $1,200 Cadillac Select Market Incremental CCR Program (using the dealer’s zip code) and $2,000 conquest OR loyalty
Why untaxed? CCR and conquest/loyalty rebates are almost always taxed, unless there’s a PA specific thing here.
What zip code are they registering the vehicle in? Do they have a current lease in the household, and are they Costco members and/or GM cardholders?
I see a Cole Valley Cady in Ohio, so used their zip. In VA, incentives are not taxed, not sure about OH. Won’t make a huge difference here either way.
It’s 15632 (western PA), they currently have an rx350 that they’re turning in the end of the month, no costco or gm card.
VA taxing is weird overall
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In that case there’s only a $2,000 lease conquest rebate. I’m not certain where they would get the additional $1,500 from unless they are Costco members.
Ok so that zip I see only $2,000 lease conquest.
Edmunds rarely if ever has correct GM incentives
Autobytel is a much better source, but it can still be off from my experience. Best to just double check with the dealer which incentives they are pulling.
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They must be using $2,000 conquest and… 2021 GM Costco Member Private Offer
$1,500
Only customers who were Costco members as of January 4, 2021, or who became a Costco member at a Costco Warehouse that opens after January 4, 2021 are eligible for this offer. Expires 03/01/2021
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Salesperson said they’re using ACAR leasing and 3% is the quoted rate. I responded back asking them why not through GM and what residual ACAR is using.
ACAR is GM financial. That’s the holding company GM uses for lease registrations.
It sounds like they are marking up the money factor to .00125 then.
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Definitely want to verify if they’re using .00125 or .00003 and the salesman just doesn’t know what a mf is.
Don’t expect a sales guy to understand what a “money factor” is. Most Cadillac dealers will initially try to mark up the maximum allowable by GMF which is +.001 IIRC.
When you calculate the lease payment yourself at base MF, does it match up to what is being quoted??
What’s funny is that at 10% off with the $2,000 in conquest rebate only it is not that far off from what is quoted here with a worse discount and the extra $1,500 (Costco?)