I believe I now have all of the data to know what a good Bolt Lease deal is. I just confirmed by reverse calculating this offer from Chevrolet.com that the Capital Cost Reduction rebate (CCR) is $2,500 and the "buy" Money Factor (what the bank charges) is 0.0005. If the money factor (Rent) is higher than this the dealer is making extra profit on the "Rent Charge"
The Residual reverse calculates to 60% so there is either a typo on the offer (should be 36,000 miles not 45,000, or GM Finance has increased the residual 2% more (not likely), I will assume a typo and continue to believe the GM Financial chart that has the 36 month Residual Values at LT 58%, 60%, & 61%; Premier 57%, 59%, & 60% for 45,000, 36,000, & 30,000 miles respectively.
For those that don't already know, you can calculate the Money Factor by dividing the monthly rent charge quoted by the (adjusted capitalized cost + residual) on the lease agreement.
The only Fees involved should be the Lease Acquisition Fee ($595), some minor Documentation Fees <$100 (I am using $80), and a small CA State Environmental/tire Fee <$20 (I am using $9). Licence and Registration (I am using $400 since the DMV calculator is not working). These can be either paid upfront or financed in the adjusted capitalized cost. I am calculating paid upfront, but it doesn't really matter since I am using a fixed $2500 "drive-off" and financing them would just mean a larger down payment which makes the net or adjusted capitalized cost the same (There is a slight advantage to paying for them upfront since you pay use tax on the CCR down payment)
The delta between Invoice and MSRP is $1,645 for a Base LT and $1,828 for a loaded Premier. The reserve credit is $200-$150 depending on whether the dealer is or isn't on GM Floor Plan. So dealer profit at MSRP without marking anything up is $1,845 to $2028. The profit on Rent Charge markup is 90%-70% depending on whether the dealer is or isn't on GM Floor Plan, so this seems to be where the dealer is making a "hidden" profit.
I am using $2,500 drive-off since that will be offset by the CA CVRP Rebate.
Bottom line:
Fair deal for a 36 month 36,000 mile lease deal on a Base LT @ MSRP $36,620 (+$875 delivery) with 8% sales tax is $2500 drive off and $382 per month. $15,886.26 Total of Payments
Great deal for a 36 month 36,000 mile lease deal on a Base LT @ Invoice $35,155 (+$875 delivery) +$500 with 8% sales tax is $2500 drive off and $352 per month. $14,825 Total of Payments
Fair deal for a 36 month 36,000 mile lease deal on Loaded Premier @ MSRP $43,030 (+$875 delivery) with 8% sales tax is $2500 drive off and $483 per month. $19,322.16 Total of Payments
Great deal for a 36 month 36,000 mile lease deal on a Loaded Premier @ Invoice $41,202 (+$875 delivery) +$500 with 8% sales tax is $2500 drive off and $439 per month. $17,861 Total of Payments
Now its off to see how little the dealers are willing to make. :mrgreen:
The Residual reverse calculates to 60% so there is either a typo on the offer (should be 36,000 miles not 45,000, or GM Finance has increased the residual 2% more (not likely), I will assume a typo and continue to believe the GM Financial chart that has the 36 month Residual Values at LT 58%, 60%, & 61%; Premier 57%, 59%, & 60% for 45,000, 36,000, & 30,000 miles respectively.
For those that don't already know, you can calculate the Money Factor by dividing the monthly rent charge quoted by the (adjusted capitalized cost + residual) on the lease agreement.
The only Fees involved should be the Lease Acquisition Fee ($595), some minor Documentation Fees <$100 (I am using $80), and a small CA State Environmental/tire Fee <$20 (I am using $9). Licence and Registration (I am using $400 since the DMV calculator is not working). These can be either paid upfront or financed in the adjusted capitalized cost. I am calculating paid upfront, but it doesn't really matter since I am using a fixed $2500 "drive-off" and financing them would just mean a larger down payment which makes the net or adjusted capitalized cost the same (There is a slight advantage to paying for them upfront since you pay use tax on the CCR down payment)
The delta between Invoice and MSRP is $1,645 for a Base LT and $1,828 for a loaded Premier. The reserve credit is $200-$150 depending on whether the dealer is or isn't on GM Floor Plan. So dealer profit at MSRP without marking anything up is $1,845 to $2028. The profit on Rent Charge markup is 90%-70% depending on whether the dealer is or isn't on GM Floor Plan, so this seems to be where the dealer is making a "hidden" profit.
I am using $2,500 drive-off since that will be offset by the CA CVRP Rebate.
Bottom line:
Fair deal for a 36 month 36,000 mile lease deal on a Base LT @ MSRP $36,620 (+$875 delivery) with 8% sales tax is $2500 drive off and $382 per month. $15,886.26 Total of Payments
Great deal for a 36 month 36,000 mile lease deal on a Base LT @ Invoice $35,155 (+$875 delivery) +$500 with 8% sales tax is $2500 drive off and $352 per month. $14,825 Total of Payments
Fair deal for a 36 month 36,000 mile lease deal on Loaded Premier @ MSRP $43,030 (+$875 delivery) with 8% sales tax is $2500 drive off and $483 per month. $19,322.16 Total of Payments
Great deal for a 36 month 36,000 mile lease deal on a Loaded Premier @ Invoice $41,202 (+$875 delivery) +$500 with 8% sales tax is $2500 drive off and $439 per month. $17,861 Total of Payments
Now its off to see how little the dealers are willing to make. :mrgreen:
