How does this lease on a new Colorado look?
Would someone be able to give me some advice on a lease quote I received below? This is for a 2019 Chevrolet Colorado Crew Cab Long Box 4-Wheel Drive WT. I already plan on trying to talk the money factor down, but wasn’t sure about how much I should try to negotiate the actual selling price. I told them to give me pricing without factoring in any down payments or trade ins. Additionally, I do not qualify for any GM employee pricing, but is there anyway to obtain a supplier discount?
Here is what the dealership sent me for a 36 month lease,10k miles per year in Indianapolis:
Gross capitalized costs: $32,000
Capitalized cost reduction: $31,356.25
Adjusted capitalized cost: $1,500(Rebate)
Residual value 69%: $22,697.55
Depreciation amount: $8,658.70
Rent charge: $123.78
Total of base payments: $389.80
Money factor: . 00229
Amount due at signing :$389.80
Here is what the dealership sent me for a 36 month lease,10k miles per year in Indianapolis:
Gross capitalized costs: $32,000
Capitalized cost reduction: $31,356.25
Adjusted capitalized cost: $1,500(Rebate)
Residual value 69%: $22,697.55
Depreciation amount: $8,658.70
Rent charge: $123.78
Total of base payments: $389.80
Money factor: . 00229
Amount due at signing :$389.80
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Comments
$1500 customer incentive
You can't talk that money factor down. It's the base rate.
What is the MSRP?
Your second line is the Adjusted CAP cost
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Edmunds Moderator
With that residual, the MSRP would have to $32,895.
With that MSRP and the adjusted CAP given, $364/mo.+7% tax = $389/mo.
So, we have that right.
I'd guess the adjusted CAP doesn't reflect the whole rebate, as some of it is being used for upfront costs.
$595 acq.fee, $150 dealer fee, DMV fees?
That's an $895 discount from MSRP.
If you want a lower payment, the selling price is where to focus.
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Edmunds Moderator
https://www.edmunds.com/tmv.html
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
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