How do I find the residual value of a courtesy vehicle?
I’m ready to put in an offer on a Lyriq Courtesy Vehicle with about 5k miles. LH Calculator puts residual at 77% for that vehicle, which is great. I want my numbers to be good when I send in my proposal. I understand that the RV maybe adjusted based on milage. How do I know how much? Or do I just let the dealer tell me the actual RV they get from GM for the courtesy vehicle?
unless something changed, i dont believe the residual value is changed for GM, you must ask them to discount the sale price of the vehicle, prior to rebates
Adjustment is 20 cents a mile. You’ll have to do a workaround in the calculator, or just account for it manually as you’re constructing the offer.
The dealer can either “buy the miles” and adjust the residual as above, or they/you can choose not to and get a lower mileage per year lease but keep the residual the same. IIRC standard GM leases are 12k miles per year, so for example when I leased a loaner Vistiq with 5k miles on it and only wanted to drive 10k miles per year, we didn’t adjust the residual; I just got a lease contract for 10.3k miles per year (which plus the 5k on it gives the full 12k*3 years =36k miles at end of a 36 month lease). A bit convoluted to type out but I hope that makes sense.