my monthly payment is 700 a month and got wear and tear insurance for 19.67 extra per month. 719.67 a month. Im not sure were to put the $7500 lease incentive into the deal calculator.
Ive asked the dealer if they would do additional units at this price and they have denied. No other dealership in California would match. No brokers were involved.
Since you’re in California you can still cancel this for a refund.
What does this actually cover that is neither normal wear and tear and therefore not chargeable, nor more serious damage that would result in an insurance claim?
GMC Hummer or Sierra?
I never get it and they originally quoted me $50 but I negotiated down to 19. I got it because the truck is 9000lbs which means it’s gonna go through those tires very easily and potentially breaks too, even though I’ll heavily drive with one pedal.
Sierra EV, I’ll update the title
I understand the concern, we all have tires that wear out and are at risk of damage.
I can’t tell for sure from your comments, but it seems that you may be expecting a free set of tires when the originals wear out.
What’s actually covered?
No, def not expecting free tires. But I wouldn’t need to put a new set of tires before I return the vehicle.
I’ll get in contact with the finance and get the brochure
I think you’ll be disappointed when you see what’s covered and what isn’t.
Once you have more info, make a list of some actual things that must go wrong - which would also be covered - just to break even on the $700+ you will have spent on this by lease end.
which dealership?
This is baked into the residual on GM leases.
Even more reason to start saving now towards a new set of tires, rather than nurse a worn set later just because you prepaid for the right to do so.
I wonder what happened to @delta737h but he had a really cool way to show how the net impact for the $7,500 as a cap cost reduction or residual subevention were very close (variability due to tax rates and money factors). So @carjunky , you are getting the benefit of the $7,500 and GM didn’t pull one on you.
The $7,500 as a residual subvention basically removes the benefit from doing a lease then refi-buy-out to get the vehicle and pocket the $7,500.