So I just signed a lease on a 2017 Volt LT. While go through the lease there was a $942 rental fee. What is that and is it negotiable? The finance person said it was set by Gm and did not know how it was calculated.
Your monthly lease payment = depreciation + rent.
You can read Leasing 101 (link at top) for more details.
Lol. That would be like a bank manager telling you they do not know how interest on your deposit is calculated
Finance guy either did not feel like explaining or did not know. I think he may not know. I have dealt with a couple kf finance guys and its like they just input numbers but do not know how to break down the equation.
Yea they probably honestly didn’t know. Finance manager I dealt with at a Lexus dealer could not comprehend how I figured out a MF based on an inflated rent fee they had on a contract. Just kept repeating “Lexus does things with numbers and gets spit out”.
Jesus anyone with a pulse can be a finance manager eh?
Any calculations with a computer can be done by a trained monkey, I guess? Type some inputs in, watch it spit something out.
The less the “Finance Manager” knows the less the dealership can pay him/her!
I finally had a chance to compare my 2014 volt lease with the new 2017 lease. they refer to it as a rent charge, not a rental fee.
the 2014 lease was a volt premier the rent fee was 819.81. The rent fee on the 2017 volt lt was 924.46. Just curious about this fee and whether its negotiable or if it’s a sort of “fudge fee” that they use to bump up the lease payment and tell you its just something GM charges?
the rent fee is defined as “the amount charged in addition to the depreciation and any amortized amounts”
It’s the interest that you have to pay. Dealership can “fudge” it if they marked up the MF on you.
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