[GOMD]

I went into a local Chevy Dealer this afternoon, with the intent of leasing a 2016 2SS that was bonus tagged. I did not end up with the car, but wanted to run the numbers by someone else to see if I am crazy or not.

The MSRP was 46,155
Selling price 33,285 after 20% and another dealer discount

I saw online lease rates would be around .0015 mf, and 58% residual for a 36 month lease.

Plugging these numbers into an online lease calculator

http://www.leaseguide.com/calc/

I got a payment around $255/ month with 8% sales tax.

Can anyone explain why the dealers offer was $475/month?

I explained to them that that price was no where near what my calculator suggested and they basically laughed and said not to trust an online calculator, because they deal in real numbers.

I tried to reason with them and show how a mistake must have been made, to no avail.

Am I wrong that they were only trying to rip me off?

[Ian SS]

Because the 20% off rebate doesn't apply to leases. If the car is bonus tagged you'll still get extra rebate on a lease but its only around $1500.

[GOMD]

I was told it applied as long as you lease thru ally or 3rd party bank.

Dealer agreed.

[Ian SS]

Never heard of that. Camaro leases are done through GM Financial anyway. I do anything to avoid dealing with Ally.

[GOMD]

I just think they were trying to make big money off the lease, adding in almost 5k somewhere.

[Ian SS]

Ask for a breakdown, and ask what MF they are charging you. The MF is where dealers make some money on leases.

But I've never seen a Camaro lease for that low of a payment, not even a 2.0 base model. You would be getting a good deal at $475.

[GOMD]

They said it was at a mf of .00157 and residual of 58%, which makes no sense. This car should be super cheap to lease becuase of the huge discount and decent residual.

[gippy87]

Did you actually see the mf and residual they were giving you? I battled back and forth with my dealership a while about this and was told "out of the many customers they've had only 1 other customer knew more about leasing, money factors and residuals". After hours of running through numbers and constantly coming up with lower numbers than they did using the same mf and residuals they have in their lease workbook i finally settled on a payment that was $14 dollars higher than what i came up with.

Before the camaro i had a 2016 STI that i leased. i worked the numbers out and called the dealer with what my payment should be and they told me it was impossible to get an sti for 314 a month and hung up on me lol. i went to another dealer and got it.

[GOMD]

They wrote out the numbers, but no real print out. They basically told me to kick rocks if I wanted to deal any lower.

I feel like they were disappointed I was well informed.

I would love to get the car somewhere else, but no one else has anything even close to the advertised price.

[gippy87]

https://gmfinancial.cld.bz/GM-Financial-Dealer-Workbook

this is the workbook i used to pull all my numbers. Also i should mention after all the bs of going back and forth about why their numbers werent working out to the same as mine if we were both using the same figures, a manager brought me to his computer and showed me the program they enter all the numbers into that spits out the monthly price figure at that point i couldnt really argue anymore. The only way for me to lower the cost was to negotiate a better price on the car.

[gippy87]

Also i had made this excel sheet to spit out monthly payments when i plugged in the MSRP, Negotiated Price and any money down i intended on adding. Feel free to edit it to work for you if youre any good at excel.
https://docs.google.com/spreadsheets...it?usp=sharing

You would have to adjust all the cells formulas with the current workbook money factors/residuals now because they have probably changed since ive purchased.

[GOMD]

I appreciate the info.

[Ian SS]

Well like I said the big discount applies to finance only. I don't think you'll find the deal you're looking for....if you could lease a 2016 2ss for 255 a month there would be no 2016 inventory at all.

[Ace01]

Well because this dealer will sell it to a sucker that does not understand MF and lease residuals like you do. You are better off just financing it for that price. Also are you sure that they are giving you the right residual value on the 2016? the lower the residual the higher the payment. 2016 have already depreciated and hence the higher payment. Like I said take a loan for that price. Its already written down so you should be good for the next 2 years without it dropping more in price.