I’m trying to work a deal on a loaner Sierra EV but I feel like I’m getting okie doked on the dealer discount and residual. I’ve seen in other posts that GM rolls the $7500 ultium rebate into the residual which boosts it to ~68%. However my sheet is showing the residual at 57%. So I’m not sure if Im getting BOTH a dealer discount AND the boosted residual. To me, it looks like they’re passing the $7500 ultium rebate off as their own discount and leaving the residual as is. I’m not very good at the calculator, so I’m sure it’s wrong. But any help would be appreciated. The truck has almost 4k miles on it as a loaner. The rebate they’re offering is $2k supplier and $2750 for it being in loaner status.
Your MSRP feels off but the residual dollar amount adjustment is probably because of the 4,000 miles. This was the closest i could get on calc.
$7500 credit to residual will always show the original % (which is 57%) but then they add $7,500 to the dollar amount, which it looks like they did in this case and then was impacted by miles on it.
You’re also burying some negative in this?
Well that makes sense that the % would stay the same but the dollar amount changes. I’m guessing then the only issue would be the weak dealer discount at $92,999.
Correct. Roughly $1500 which isn’t a problem.
Here’s my guess. Kinda sucks.
Yeah unfortunately I don’t qualify for the Costco rebate. I tried to tell them I’d renew my membership, but apparently I need to be a member prior to 4/1
If you call and specifically ask to re-instate your membership versus reactivating or renewing you should be eligible.
Tell who, the dealer? Don’t talk to them about Costco. Reinstate your old membership through Costco, and dealers will only see your original membership date.
In general you need to step back and not talk to dealers until you know what your target deal is, including how to maximize your rebate stack.
This seems like a not great deal. I’ve got a deal on a ‘25 Extended Range loaner with only first months’ pmt. DAS for $850.
If you like the big EV pickups, look for a Silverado loaner, the numbers are a bit better for leases. For comparison, I had a deal for $615 a month (incl 7.75% tax) with tax, title, license, 1st month DAS on a $97k unit 36/10 lease.
Or a Lightning right?
I reached out to Costco and did just that. Lady said it would keep my original membership date. Thanks for the heads up.
Yeah for a ‘24 loaner I was hoping it would be a little better. He did say he has a ‘25 Max that’s coming off the loaner program this week, said he could get me the same deal on that one. So I don’t know why the ‘24 isn’t discounted more lol.
No RST’s coming out of loaner status that I can find but that would be a much better deal.
Its not just about how a dealer wants to discount or can based on accounting markdown/principals - how the manufacturer places residuals, dealer cash/incentivization, and the money factor has a huge part.
My understanding is Lightning deals are worse now, and even more so after this new fake employee pricing scheme.
@AjHaworth if swapping out of your old car isn’t a required part of the deal you can always just have the truck shipped from further away. I’ve driven up to 3 hours away to pick up a car, you’ve gotta grind!