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