[mnmasotto]

How do these lease numbers look? Orange County, CA

I am in Orange County, Ca. I was emailed by a local GM dealer after I entered my info on the GM website hoping to get a Private Offer. He sent me some numbers regarding a current lease special and I was wondering what you guys thought. The car is a Bolt Premier (white with dark grey leather)with all options including DC fast charging. MSRP of $43570. Based on a 35 month lease, 12000 miles/yr, $1182 due at signing and $340.03 per month including tax and fees. Could i be missing something? The deal includes $3944off MSRP and a $4500 credit for a GM lease special. What do you think?

 

[llninja]

I've never heard of a 35 month lease, so maybe it's a typo. But you'll be spending well over $13k over the next 3 years. It seems a bit high, even for a premier. Dig into the details to get the original MSRP, cost of capital, money factor, residual, etc. but upon first glance, the dealership and or the finance company is burying their profit in one or more of those numbers.

 

[mnmasotto]

MSRP was about $43570 before the $3944 dealer discount and $4500 GM lease special offer. I did not ask the for the money factor, residual value or other numbers. Do you think the lease numbers will come down any further? With $1182 due at signing, what do you think would be a realistic monthly payment based on a $43570 MSRP car. The 35 month lease term is correct.

 

[mnmasotto]

I just emailed the dealer with a request for the lease particulars. We post here when I receive them.

 

[Steve_P]

Probably 35 payments since the first of 36 is due at signing.


Sent from my iPhone using Tapatalk

 

[AtomicPowered]

Taxes and fees are high in Cal. $344 doesn't sound bad. The bank gets the $7500 tax credit so to get your share the MSRP must drop by 7500 then an additional $3k to $4k discount from the dealer/GM. Don't exceed 36k miles. Penalties are high.

 

[mnmasotto]

Terms for the Premier are as follows:
Residual is 49%
Money factor is 0.00069
Total capitol cost is $35126
What do you guys think..??

 

[mnmasotto]

I am a little confused. Going over the contract numbers once more........
MSRP on the Premier is $43570
Dealer Discount $3944
GM lease rebate $4500
Net price is $35126

$1182 due at signing plus 35 payments of $340.03 = $13,083.05 (total out of pocket)

$35126 - $7500 federal rebate = $27626 (total cost of the car to the bank)

$27626 - $13083.05 in total lease payments = $14542.95

The residual value of the car is 49% or $21300

Is this a typical lease margin? Is there room to negotiate?

 

[bentbiker]

I am a little confused. Going over the contract numbers once more........
MSRP on the Premier is $43570
Dealer Discount $3944
GM lease rebate $4500
Net price is $35126

$1182 due at signing plus 35 payments of $340.03 = $13,083.05 (total out of pocket)

$35126 - $7500 federal rebate = $27626 (total cost of the car to the bank)

$27626 - $13083.05 in total lease payments = $14542.95

Here is where i am confused..... residual value of the car is 60% or $21075.60 but the bank only paid $14542.95 !

First, you haven't accounted for the taxes and fees the bank has to pay. Also, although you don't specifically say so, it sounds as if you expect the bank to pass on the full $7500 TAX CREDIT (not a rebate) to you; that's not gonna happen.

So, what is the confusion . . . that the lessor expects to make a profit?

 

[mnmasotto]

The dealer just emailed me saying he gave me the wrong numbers. The numbers above are for a LT model.
The correct numbers for the Premier are:
Cap Cost $35,126
Residual 49%
Lease factor is 0.00069
Sorry about the confusion.

 

[mnmasotto]

I am only trying to educate myself on car leases. Never leased a car before.....i have only purchased.

 

[mnmasotto]

Llninja.......Does the depreciation seem a little high?

 

[llninja]

Llninja.......Does the depreciation seem a little high?

Don't ask me, I've never leased a car in my life!!!! My point is that leasing is confusing, and often the most expesve way to operate a vehicle. Others on this forum like Bro, JupiterMoon, and Bacardi have a better handle on great lease deals. Bro is the only guy on this forum I know who actually made money flipping a lease on a Cruze, but it was a one hit wonder (maybe one and a half hit wonder)

The finance companies bury their profits in there somewhere and you practically need PhD in finance to unravel it in order to figure out if it's a good deal. The best deal for my simpleton mine is a heavily discounted car, 100% down, 0% interest, $0 per month, unlimited term, unlimited miles, no drive-off fees, no residual, no early turn-in penalties, no dent and ding charges. If I can't afford it, I dont' buy it. I wouldn't have bought a Volt until the price and incentives came down far enough for me to afford it.