Long time lurker, but first time needing some help trying to figure out if this deal is ok or if I’m being fleeced.
A few months back I custom ordered a Camaro with the intent of leasing.
Nonetheless, here are the numbers I was quoted:
MSRP - $41,275.00
39 month term
$2,500 down payment
Monthly Payment - $468
Governments fees = $808.05 (34 temp plate, online registration 6.05, doc fee 394, out of state registration 219, beacon courier service 155)
Capitalized Taxes - $1,905.71
Acquisition fee- $695.00
Money factor - 2.08%
Any room to work on this? Given the car market, I was able to secure the car to be sold at MSRP but these figures seem a bit higher.
Thanks in advance
MF isn’t expressed in Percents.
Where’s your payment?
A dealer can hide a lot of stuff in a payment that you don’t list.
Hmmmmm sounds similar to the deal I was working that had the marked up MF. Is this a PA dealer?
It is indeed a PA dealer - Bergey’s Chevrolet
I was wondering why he sent it over as a percent, as well.
I added the monthly payment (sorry I missed it earlier)
That wasn’t the same dealer but that’s the same way he sent me the MF… weird. But regardless, the MF for 39/10 is .00045. So they’re definitely marking that up. Do you have access to a supplier code or another leased vehicle in your household? You can get additional money off that way.
GM Financial actually sends the dealers lease rates in APR % terms, not decimal points. 2.08 would be a 00086 or 00087 MF so they are marking the rate up.
We lease a Chevy Traverse so I’m asking if any incentives are tied to that. As for supplier code, I’m going to look around for one and perhaps I can find someone kind enough to give me it.
Thanks for the insight! Very helpful.
Based on the fact that they’re hiking up the MF, how much should I ideally be pushing to pay for monthly?
put it in the LH Calculator, you can find it on top.
Leasehackr Calculator is the most powerful consumer research tool for car leases and car financing. It integrates lease, finance, and cash purchase programs for virtually all car models in the US and Canada.
A few things to note when I put the numbers in and I put that in the notes section when clicking on the calculator.
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