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2017 & 2018 GMC Acadia Denali AWD Lease Questions

ceichorn1ceichorn1 Posts: 7
edited November 2017 in GMC
Hello! Can someone tell me if this sound right? I can't figure out how they generated these numbers, they seem high.

Both are for 36 month lease, 12K miles...

For the 2017

MSRP: $51,380.00
Gm Employee Discount: $47,025.82
Rebate: $1,000
Trade in: $4,000
Residual $31,341.80

Payments assuming all of the $4,000 of trade value applied would be $457 a month.


For the 2018

MSRP: $51,445.00
Gm Employee Discount: $47,087.00
Rebate: $0.00
Trade in: $4,000
Residual: $30,867.00

Payments assuming all of the $4,000 trade value to be applied = $525 a month

GM Financial has an acquisition fee of $595, the Documentation fee from the dealership of $250, and then we also allocate $100 towards title / registration, and plates/tags. So $945 in total. As it works out, the GM discount will be better than using the competitive lease discount. So going with employee on the 2017 seems to work out to be the better option (And better residual)



First time posting here, let me know if you need more info. Thanks in advance!

Chris

Comments

  • kyfdxkyfdx Posts: 119,685
    ceichorn1 said:

    Hello! Can someone tell me if this sound right? I can't figure out how they generated these numbers, they seem high.

    Both are for 36 month lease, 12K miles...

    For the 2017

    MSRP: $51,380.00
    Gm Employee Discount: $47,025.82
    Rebate: $1,000
    Trade in: $4,000
    Residual $31,341.80

    Payments assuming all of the $4,000 of trade value applied would be $457 a month.


    For the 2018

    MSRP: $51,445.00
    Gm Employee Discount: $47,087.00
    Rebate: $0.00
    Trade in: $4,000
    Residual: $30,867.00

    Payments assuming all of the $4,000 trade value to be applied = $525 a month

    GM Financial has an acquisition fee of $595, the Documentation fee from the dealership of $250, and then we also allocate $100 towards title / registration, and plates/tags. So $945 in total. As it works out, the GM discount will be better than using the competitive lease discount. So going with employee on the 2017 seems to work out to be the better option (And better residual)



    First time posting here, let me know if you need more info. Thanks in advance!

    Chris

    2017: .00093 MF
    2018: .00119 MF

    Better residual and lower money factor on the 2017. It's always going to be the better deal.
    Surprising that the 2017 is only cheaper by the $1000 rebate.

    If you get the adjusted CAP cost, we can check the payment

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Thank you very much for your response!

    So you are saying they worked the 2017 APR at a 2.232% and the 2018 at 2.856% (MF * 2400)?

    And the adjusted CAP cost, do you mean the MSRP minus the trade-in, GM discount, rebate, and the residual value?

    That should be $10,684.02 for the 2017 and $12,220.00 for the 2018 if my math is correct.

    Let me know if I am misunderstanding you.

    I also will have 8% tax.

    Here is what I got when I calculated it, but I might be missing something:
    2018 2017
    MSRP $51,445.00 $51,380.00
    Less GM Discount $47,087.00 $47,025.82
    Down Payment/Trade In $4,000.00 $4,000.00
    Rebates $1,000.00
    Net Capitalized Cost $43,087.00 $42,025.82
    Lease Term (Months) 36 36
    Residual Value $30,867.00 $31,341.80
    Depreciation Fee $339.44 $296.78
    APR % 2.86 2.23
    Money Factor 0.00119 0.00093
    Financing Fee $88.01 $68.23
    Sales Tax 8.00% 8.00%
    Title/Fees $945.00 $945.00
    Total Tax $34.20 $29.20
    Total Lease Payment $487.90 $420.46

    Thanks again!

    Chris
  • kyfdxkyfdx Posts: 119,685
    ceichorn1 said:

    Thank you very much for your response!

    So you are saying they worked the 2017 APR at a 2.232% and the 2018 at 2.856% (MF * 2400)?

    And the adjusted CAP cost, do you mean the MSRP minus the trade-in, GM discount, rebate, and the residual value?

    That should be $10,684.02 for the 2017 and $12,220.00 for the 2018 if my math is correct.

    Let me know if I am misunderstanding you.

    I also will have 8% tax.

    Here is what I got when I calculated it, but I might be missing something:


    2018 2017
    MSRP $51,445.00 $51,380.00
    Less GM Discount $47,087.00 $47,025.82
    Down Payment/Trade In $4,000.00 $4,000.00
    Rebates $1,000.00
    Net Capitalized Cost $43,087.00 $42,025.82
    Lease Term (Months) 36 36
    Residual Value $30,867.00 $31,341.80
    Depreciation Fee $339.44 $296.78
    APR % 2.86 2.23
    Money Factor 0.00119 0.00093
    Financing Fee $88.01 $68.23
    Sales Tax 8.00% 8.00%
    Title/Fees $945.00 $945.00
    Total Tax $34.20 $29.20
    Total Lease Payment $487.90 $420.46

    Thanks again!

    Chris
    Adjusted CAP cost = Net Capitalized Cost

    Unless you are paying your title fees upfront, they need to go above the line, and be added into the Net Capitalized cost.
    If this is Ohio, tax is paid upfront, and also has to be added to the NET CAP (unless you are paying it upfront). It's not collected monthly on the payment.

    So, at the end, it's just Monthly depreciation + finance fee = payment. (tax and fees already rolled in).

    If it's not Ohio, let me know which state.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • I am in Ohio, yes. So did the $457/$525 for the 2017 and 1028 respectively sound right then? I'm at work, will reword my spreadsheet on what you mentioned as well later.

    Thanks again!

    Chris
  • kyfdxkyfdx Posts: 119,685
    ceichorn1 said:

    I am in Ohio, yes. So did the $457/$525 for the 2017 and 1028 respectively sound right then? I'm at work, will reword my spreadsheet on what you mentioned as well later.

    Thanks again!

    Chris

    Without the actual adjusted CAP cost, I'm just guessing.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Thanks, let me see if I can get it. Appreciate your help!
  • Just to be clear, this Edmunds formula will not work in Ohio because it adds tax to the payment and not to the gross price?

    https://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html

    I get an Adjusted Cap Cost of $44,032 (2018) and $42,970.82 (2017) using the above. Then payments at $491.35 and $423.44 respectively.

    But you are saying I need to add the tax above the line. Do I need to add the tax to the gross cap cost or the adjusted cap cost (after rebates/trade-in) before figuring out the monthly payments?

    Doing this (tax to the gross) I get an Adjusted Cap Cost of $47,874.56 (2018) and $46,808.49 (2017), then payments of $566.27 and $502.24 respectively, which seems VERY high. Again, the dealer's monthly payment were $457 & $525.

    Here are my calculations if this helps:
    Tax in Payment Tax up Front
    2018 2017 2018 2017
    MSRP $51,445.00 $51,380.00 $51,445.00 $51,380.00
    Negotiated Price (GM discount) $47,087.00 $47,025.82 $47,087.00 $47,025.82
    APR (%) 2.86 2.23 2.86 2.23
    Sales Tax Rate 1.08 1.08 1.08 1.08
    Money Factor .00119 .00093 .00119 .00093
    Lease term (months) 36 36 36 36
    Residual Value $30,867.00 $31,341.80 $30,867.00 $31,341.80
    Fees $945.00 $945.00 $945.00 $945.00
    Rebates $1,000 $1,000
    Trade-in $4,000 $4,000 $4,000 $4,000
    Gross Cap Cost $48,032.00 $47,970.82 $48,032.00 $47,970.82
    Gross Cap with Tax n/a n/a $51,874.56 $51,808.49
    Cap Cost Reduction $4,000.00 $5,000.00 $4,000.00 $5,000.00
    Adjusted Cap Cost $44,032.00 $42,970.82 $47,874.56 $46,808.49
    Depreciation Amount $13,165.00 $11,629.02 $17,007.56 $15,466.69
    Base Payment $365.69 $323.03 $472.43 $429.63
    Rent Charge $89.25 $69.05 $93.83 $72.61
    Pretax Lease Payment $454.95 $392.08 n/a n/a
    Total Payment $491.35 $423.44 $566.27 $502.24
    Thanks again for your help, I am not sure what I am missing here.

    Chris
  • Thanks for bearing with me while I tweak my spreadsheet, trying to figure out the right formulas and understand this. And in Ohio adding the tax to the net amount like you mentioned, not the monthly payments...

    I think I got close to the dealer's numbers with the following (I'll stick to the 2017 Acadia Denali AWD):

    MSRP: 51,380.00
    Price after GM Family discount: 47,025.82
    Money factor: .00093
    term: 36 mo
    miles: 12K
    residual: 31,341.80
    fees: 945
    rebates: 1000
    trade-in: 4000
    tax rate: 8%
    gross cap cost: 47,970.82
    adjusted cap cost: 42,970.82
    adjusted cap cost with tax: 46,408.49
    depreciation: 15,066.69
    rent charge: 40.81
    payments: 459.32 (dealer quote 457)

    Let me know if this looks right.

    I appreciate your help!
    Chris
  • kyfdxkyfdx Posts: 119,685
    @ceichorn1
    Taxes are calculated on the sum of the monthly payments, plus CAP cost reductions (like trades and rebates).
    Once the tax is calculated, you add it to the Gross CAP cost.
    That's why I suggested you get the numbers from the dealer, as they know the exact tax amount they are using to calculate the lease payment. Just because you add it to the CAP cost doesn't mean that the tax percentage is applied to the full CAP cost.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • I greatly appreciate your help! I apologize, but this is hard for me to visualize. I wish there was a resource for this online, instead of the average person trying to create spreadsheets and calculate all these variables. The Edmunds lease calculator made sense to me, but when you add in Ohio's different tax rules, it's complicated to calculate, for me anyway. I guess I don't know what numbers I need to ask for that I don't already have from the dealer. What information is missing from what I provided above? Thanks again!
  • kyfdxkyfdx Posts: 119,685
    ceichorn1 said:

    I greatly appreciate your help! I apologize, but this is hard for me to visualize. I wish there was a resource for this online, instead of the average person trying to create spreadsheets and calculate all these variables. The Edmunds lease calculator made sense to me, but when you add in Ohio's different tax rules, it's complicated to calculate, for me anyway. I guess I don't know what numbers I need to ask for that I don't already have from the dealer. What information is missing from what I provided above? Thanks again!

    Ask them for the adjusted CAP cost, and an itemization to reconcile that with the selling price.
    It's no different than if you were purchasing the vehicle. You want to know every item that is being paid for, that goes into the price.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Looking for residuals and money factor on 2017 and 2018 Acadia SLT and Denali AWD, 24/15 and 36/15 leases. I'm in Ohio zip code 43623
  • kyfdxkyfdx Posts: 119,685
    dough419 said:

    Looking for residuals and money factor on 2017 and 2018 Acadia SLT and Denali AWD, 24/15 and 36/15 leases. I'm in Ohio zip code 43623

    2017:
    .00059 MF and 61%/63% residual for SLT/Denali
    .00093 MF and 57%/59% residual for SLT/Denali

    2018:
    .00127 MF and 66%/68% residual for SLT/Denali
    .00089 MF and 56%/58% residual for SLT/Denali

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • southcalsouthcal Posts: 9
    Hi can you please provide me with the MF and Residual for:

    2018 Acadia SLT-1 - 36 month 10k

    Thank you,
  • southcalsouthcal Posts: 9
    southcal said:

    Hi can you please provide me with the MF and Residual for:

    2018 Acadia SLT-1 - 36 month 10k

    Thank you,

    sorry Los Angeles
  • MichaellMichaell ColoradoPosts: 109,969
    southcal said:

    southcal said:

    Hi can you please provide me with the MF and Residual for:

    2018 Acadia SLT-1 - 36 month 10k

    Thank you,

    sorry Los Angeles
    .00119 and 59%

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • southcalsouthcal Posts: 9
    thank you!
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