Yes, I recently leased a new Ram 1500 Bighorn and during financing, I noticed my residual value to be at 55% on a 39 month lease. I asked the financier about it and he mentioned that he was instructed to run the paperwork as normal, and to not process under lease loyalty even though I was selling them my currently leased Bighorn. He said originally he was processing it that way and it showed a 58% residual…He said Stellantis would adjust this if it was processed incorrectly. Is this true? Thank you in advance.
If you asked for a deal check, circle back after you have signed a deal – the community always loves to hear back! Submit your deal to SIGNED! (https://share.leasehackr.com).
I’m not experienced w/ this, but I don’t recall seeing a deal on LH where lease loyalty resulted in an RV bump (instead of being passed along as a rebate).
I don’t think the captive bank adjusts anything. It either accepts or rejects the deal/paperwork.
Hopefully, one of the experienced posters will see your message and be able to give a more definitive answer.
Damn… you’re hunting for a CDJR in Norcal. Might as well just quit right now (my bad, you already signed. Sorry man). Because it’s the worst experience imaginable.
I feel like LH should publish a blog post about how to hunt for a Detroit-Big-3 product… since their dealers are super shifty sometimes. I legit don’t know how people consistently/effectively hunt domestics on this site. Often when I try, I bump into some of the most scumbag tactics. @Bumboola , @schyulerw , @theduke and @djrabbi deserve extra praise for getting CDJR and not getting ripped off.
Anyway, the only consistent way I’ve been able to have any luck with CDJR is to request seeing the “incentives report” out of DealerConnect. 9/10 dealers tell me to pound sand when I ask for this, which is probably why I just can’t seem to actually hack one of these things well. But the few times I’ve gotten this data, hacking was super easy/smooth.
One could argue becoming a LH SuperSupportr gets you access to the data in RateFindr. But the key here is proof the dealer has or has not applied an incentive. Simply informing a dealer an incentive exists doesn’t mean much. They actually have to apply the incentive, and a surprisingly large number of CDJR showrooms try to pretend incentives don’t exist and commingle all the rebates and dealer contribution into one giant discount. This enables them to pocket rebate value for themselves by applying the rebate later then dropping their dealer contribution.
Here’s what the report looks like (I took out the part with my TDM code details and PII). You can see plain as day what incentives are on the car, what are the lease resids/buy-rate, and rebates they’ve applied. If you don’t see your loyalty on here, then they didn’t apply it. There is no “resid bump” with loyalty.
I think what we’re trying to tell you is there isn’t a lease loyalty program to “run the paperwork” through.
The finance person was likely lying to you.
I actually didn’t see a 55% RV on a Ram 1500 Bighorn when I used Ratefindr, but there were so many configurations that maybe I got confused. Did the deal fund (as in, did the captive bank approve the deal)?
He told me there was a program, but the sales manager said to not use it…. and that if it were actually applicable, it would be changed when the paperwork was sent to stellantis.
Ok, opened rate finder and it shows residual at 58% instead of 55%, but only under option 27z? No idea what that means but is higher than the 55% I received.
Thank you for this info- My only question is there is a National SFS Lease Loyalty rebate of $2000 that was not used by the dealer, but looks compatible with what is called a lease bonus cash that was applied… leasehackr calculator allows me the option to stack. Guess its my fault for not asking better questions regarding this?
Dude, it’s not your fault. Don’t think like that even though this forum loves to rip the buyer/lessee for not being experts to get the best possible deal at all times.
The intent of customer rebates is that the automaker puts them on the table to allow customers to feel like they’re getting the best deal possible. The customer rebates themselves aren’t supposed to be hidden behind a cloud of deception and frustration. Lease Loyalty is a different rebate than the same as the National Bonus Cash. Even if both are $2,000 - a customer who inquires about getting all of the rebates shouldn’t have to then be fed some BS like you received.
The problem is the automaker can do nothing about how a particular sales flow works. The automaker gives training and tools, but the sales are done by an independent franchised business. And the North American Dealer Association (NADA) lobbies hard to ensure salespeople have to be as least transparent/honest as possible.
At the state level, California buyers are supposed to be presented with a clearly itemized list of all customer rebates and discounts on the contract. This enables people like you to see which rebates you received and which dealer contribution or factory-to-dealer incentives were applied.
Senate Bill 766 requires dealers to disclose this - if you don’t see it in your contract, then your NorCal dealer isn’t adhering to the new rules. @David_Anthony can explain more.
The Chrysler Capital / SFS situation is stupid, but the reason why you most likely didn’t get SFS loyalty was because you weren’t an SFS customer. They’re two separate banks.
