True. If OP’s friend had Penfed ($500) and an OL code ($500), that would have been an additional savings of about $27/month, bringing their post-tax monthly to less than $420.
I just got a very similar lease deal and used both OL and Pen Fed. 47,400 car, 36/7500, 3301, 429/mo + tax, 59% residual, a little higher interest rate though, think .00113, southern CA and shipped to No. CA. 2292.72 das. New of course. Premium package.