- Maybe I’m using the calc wrong, but I took the incentives off the MSRP. They do total $11,500. I think this answers 2. Itd be a 17% discount off the MSRP
- I dont know the dealer fees unless I go to the dealer, right? They wouldnt give me this number. Thats why I asked for the deal sheet. Gov fees, not sure what they are yet either but I cant change this number so I reasoned that it would add somewhere between $10-50 monthly.
Discounts are discounts and incentives are incentives. Incentives arent discounts.
Discounts lower the sales price. Incentives go in the incentives area.
You listed some incentives in the incentives section and now youre telling us you also included the incentives in the discount. You dont get to double dip.
You need to put the actual incentives where they go and then work out an appropriate discount target.
Most dealers list their doc fees on their websites. Theyre often standardized by state.
You can find your registration costs on your state dmv website usually.
Yes. Claiming the $7500 federal ev tax credit on a lease is tax fraud.
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hey thank you a ton, this is starting to make sense.
This dealer either made some kind of boilerplate mistake conflating finance and lease offers, doesn’t understand the program or they are advertising a lease with a third party bank that passes along the EV credit in a different manner. The GM Financial Lease program for the Lyriq uses the $7,500 credit to increase the residual value of the car. It’s the same difference to you, if anything it can be beneficial since it results in you not paying taxes on that $7,500. The drawback is that there is no way in hell that you will ever have equity in this car. Just lease it, keep it to full term and walk away when it’s over.
This is what I had originally thought, similar to how Tesla was handling it. But when the dealerships were including it I figured something changed. Thanks for explaining it.
This still wouldnt make the “sign over your tax credit” part make sense
Discount and incentives aren’t they the same in regards that it lowers the actual price for the car you buy?
Discounts are negotiable values between you and the dealer and are untaxed. They are one of the indepedent variables that you have control over.
Incentives are non-negotiable values provided by either the manufacturer or the bank, generally are taxed, and are something that neither you nor the dealer have any control over.
Discounts get reflected in the “agreed upon value” on the contract and factor into the gross capitalized cost. Incentives generally (but not always in the case of direct to dealer incentives that get held on the back end) are separately itemized on the contract and factor into tye adjusted capitalized cost.
If you make an at msrp purchase, you would have $0 in dealer discount but may still have incentives applied.
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