What am I missing from this Hummer EV lease Quote?

I am trying to figure out what I am missing between the quote I am getting from the dealer and what I am getting out the calculator?

Confirmed from Dealer

2025 Hummer EV Pickup X2
Residual - 82%
MF - 0.00285
MSRP - 98,845
Total savings 21,950 (Gm Employee, Employee appreciation bonus and Costco executive membership + Dealer discount of ~15%)
Adjusted Price - 76,895
Doc fee - 75
Tax - 601.50
Non Tax fees - 280
Balance 79,550

The estimated lease payment is 0 down is 553.

I get this is a pretty good deal for a hummer. But I am trying to figure out why I am so far off on the calculator when it seems the number match besides the payment? It seems like I am missing ~4K in costs that I do not see on the quote from the dealer.

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Without seeing the quote from the dealer its hard to say. Are you sure they are not marking up the MF?

I thought it was them marking up MF, but they confirmed MF was 0.00285 and Residual 82%

Something is off then. Have them double check the numbers/calculation. Also, I don’t believe GM is charging the $695 acquisition fee anymore. :slight_smile: If these numbers hold true, you are potentially looking at a sub $400 lease of a $100k vehicle. :clap: :clap: :clap:

Thanks! I meant to remove that, as it wasn’t in the quote. I was hoping I didn’t need to pay that lol. Yeah I would be ecstatic for this deal. Would be less than my current ICE blazer.

Is it possible it is because it has negative depreciation?

That seems like the culprit. They may have to add additional items to make it above 0 depreciation for it to fund. Make sure what they added is something you can use though.

Is this vehicle a demo? If so, do you know the RV adjustment for demo miles?

It has 6 miles on It. Plus I asked what the residual was on the lease, and they said it was 82%. So I think it has to do with the negative depreciation.

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Oh jeez, that is a bit of a bummer. Size adding like tonneau cover and stuff may be an option?

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Fair, thank you!

I wouldn’t worry about that - in order to get around this and fund the lease, they apply the rebates as down payment vs reducing the net cap cost.

Good to know! I just reached back out to get some understanding on the quoted payment after manually calculating and running it through a few different calculators. Hopefully they will give some clarity.

At that price? All you need to confirm are the DAS, monthly and where to sign. If someone figure out where the dealer is, this will be gone.

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36 months/15K takes you to positive depreciation as well. I went through the same situation before. I had to either raise the capitalized cost by (rolling in all fees/optional equipment/optional warranty). Using rebates as down payment will not affect capitalized cost (agreed value of vehicle) for depreciation calculation.

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Why does your Calculator show MF = .00030? Why are you comingling taxable and non-taxable fees in the dealer fee field? You show dealers fees of 85 (taxable) plus 280 (non-taxable) = 355. That’s like adding apples and grapefruit.

Dealer worksheets are mostly crap. You may want to read this…

Building a Motor Vehicle Lease- Data Collection and Calculations.pdf (370.9 KB)

??? Let me know.

Wow… This looks great. Beats the one I just got done for a co-worker. 597/M 15k Miles/24Months 1k down.

Well they ssaid the residual was “.00285 which equates to 7.125 percent”. When I put .00285 in the calculator, it shows an APR lower than 7.125, so I raised it to get close to that APR. That that would maybe close the gap. And I wasnt sure exactly where to put the fees, so I just put them all in dealer fees.

The other workaround is to agree to your deal and then paper a lease with a higher sale price so net cap exceeds rv. Then cut you a check back to get your monthly back to the agreed upon deal. So if they accept your offer and it results in a 300/mo payment but they have to paper a lease at 450/mo so it funds - they cut you a check for $150x24 mos or $3600.

You mean money factor, not residual. The APR for an MF = .00285 is about 6.84%. That for an MF = .00300 is about 7.120%. An APR = 7.125% reflects an MF of about .0029688… which makes no sense. MF’s are of the form .00XXX.

Dealers are give a shits when it comes to lease math and know next to nothing. Suggest you educate yourself about leasing. The posted pdf above is a good start and so is Leasing 101