I negotiated a deal on the 2017 Buick Encore ($11k below MSRP) but now the dealer claims they can’t do a Lease with this price. MSRP is 25,860 and Selling price is 14,860. I asked them to plug $14,860 in their leasing calculator as the selling price, but they say they can’t do that. Is this true? Here is the breakdown of the incentives offered:
DEALER DISCOUNT - $2000
BUICK SELECT MODEL BONUS CASH - $2, 000.00
BUICK BONUS CASH PROGRAM - $4000
BUICK IVCS - $500
BUICK LEASE LOYALTY - $2,500.00 (Must be leasing a Non-GM vehicle in the household)
YOUR NET SAVINGS - $11,000.00
Lease incentives are many times different than purchase incentives. So What the dealer tells you is certainly true in this case.
As I recall the RV on that vehicle is 65%. So the residual is around $17k. And you want to lease it for a net cap-cost of $14860. In that case they would pay you to drive the car.
Incentives are different for purchases than leases. All you negotiated was a $2000 discount off MSRP and the use of an IVC. At $14,860, I would just buy the Encore, but that is me.
That dealer seems to be just adding up all incentives, even though some don’t stack. Even if you say you would purchase it, I don’t see how they can include the $2500 Lease Loyalty rebate for a purchase.
Even buying doesn’t make sense. It’s about $16,200 after tax. KKB trade-in value for a 2-year old Encore is about $11,500. So, the cost of buying over two years is about $4,700, which is more than doing a one-pay lease on this vehicle.
I don’t think the 4,000 or 2,000 bonus cash is available on a lease. I think the dealer made a mistake when including that.
The 2500 lease loyalty is good for a PURCHASE, and NOT a lease. If you’re currently leasing a Buick/GMC, you can apply the 2500 toward a purchase of another. Lease loyalty (for a lease) is 1500. Conquest is the same 1500, so you’re not saving anything if you have another brand at home, and these won’t stack.
