Hopefully this is the right location. I had a quick question about residual value and its true impact on the monthly. I’m perusing Hummer EVs to see if there is a deal that makes sense. I’m seeing 2Xs for $86,000 or so after incentives on dealer sites. Dealer is also saying the trucks have a residual value around 80k. But they are looking at 900-1000 per month.
Over 36 months that’s about 36,000. Should the monthly be quite a bit lower if the residual is that high? Am I missing something obvious on this?
36 months. This is on a 2025. Taxes are factored in as well so add in roughly 6k. Still though seems off unless I’m missing something obvious. MF is .00308.
Well I feel silly now. That makes sense. So paying that interest plus depreciation. Is there somewhere I can find current rates for the Hummer EV or other vehicles?
Sure, become a LeaseHackr supporter and you gain access to RateFindr, which will have all that information for you, as well as a really good lease calculator.
Maybe just semantics here, but dealers do not offer the sales tax credit. It comes from the lender. Of course, you have to ask the dealer if they are available at this time on the vehicle you’re looking at.
The high MF might make the Hummer a good candidate for a lease and quick buyout if you feel the vehicle will hold its value well. Most EVs don’t, so it seems like the bank wants a higher return to offset the residual value risk.
I don’t think it’ll hold value great which is why I was interested in a lease deal. I assume we’ll see used ones in the 40s and 50s in a few years time. Time will tell though.
