2017 GMC Acadia Lease Questions

weddingre · November 2016

here is a quote for a 2017 Acadia Denali FWD in FL.
36 months / 12,000 miles
65% Residual and MF of .00070
$0 Down
MSRP: $49,585
Discount: $3,166.10
Selling Price: $46,418.90
Aftermarket: $299.95 (Paint protection they refuse to take off they say its applied to the coat of vehicle,)
Doc Fee: $595
Acq Fee $595
License Fee: $200
Gross Cap Cost $47,908.85

At end of quote under "Payment" They put on advanced payment of $526.03 and Upfront charge of $337.36 to total $863.39 due on delivery which they said they will cover so I don't owe anything up front (weird as to why even write this into quote?)

Total monthly payment of $526.03 which includes tax.

Putting these numbers into lease calculator i should have a monthly payment of $494 with a drive off of $1325 (but dealer quote said I don't owe anything on delivery)

So can someone help explain this?

Michaell · November 2016

weddingre said:
here is a quote for a 2017 Acadia Denali FWD in FL.
36 months / 12,000 miles
65% Residual and MF of .00070
$0 Down
MSRP: $49,585
Discount: $3,166.10
Selling Price: $46,418.90
Aftermarket: $299.95 (Paint protection they refuse to take off they say its applied to the coat of vehicle,)
Doc Fee: $595
Acq Fee $595
License Fee: $200
Gross Cap Cost $47,908.85

At end of quote under "Payment" They put on advanced payment of $526.03 and Upfront charge of $337.36 to total $863.39 due on delivery which they said they will cover so I don't owe anything up front (weird as to why even write this into quote?)

Total monthly payment of $526.03 which includes tax.

Putting these numbers into lease calculator i should have a monthly payment of $494 with a drive off of $1325 (but dealer quote said I don't owe anything on delivery)

So can someone help explain this?

Assuming 7% sales tax, the numbers work out, to the penny.

There may be some sort of 'sign and drive' promotion which waives your up front costs. We don't have any information about this, however.

weddingre · November 2016

Michaell said:

weddingre said:
here is a quote for a 2017 Acadia Denali FWD in FL.
36 months / 12,000 miles
65% Residual and MF of .00070
$0 Down
MSRP: $49,585
Discount: $3,166.10
Selling Price: $46,418.90
Aftermarket: $299.95 (Paint protection they refuse to take off they say its applied to the coat of vehicle,)
Doc Fee: $595
Acq Fee $595
License Fee: $200
Gross Cap Cost $47,908.85

At end of quote under "Payment" They put on advanced payment of $526.03 and Upfront charge of $337.36 to total $863.39 due on delivery which they said they will cover so I don't owe anything up front (weird as to why even write this into quote?)

Total monthly payment of $526.03 which includes tax.

Putting these numbers into lease calculator i should have a monthly payment of $494 with a drive off of $1325 (but dealer quote said I don't owe anything on delivery)

So can someone help explain this?
Assuming 7% sales tax, the numbers work out, to the penny.

There may be some sort of 'sign and drive' promotion which waives your up front costs. We don't have any information about this, however.

Sales Tax is actually 6% Turns out there computer system has an error on that end. Thank you for your help in confirming the numbers.

Michael,
Where is the $299.95 aftermarket charge belong when figuring out the quote. Is it selling price + aftermarket when working out the numbers? Or just 299.95$ divided by 36 months onto the payment

Michaell · November 2016

weddingre said:

Michaell said:

weddingre said:
here is a quote for a 2017 Acadia Denali FWD in FL.
36 months / 12,000 miles
65% Residual and MF of .00070
$0 Down
MSRP: $49,585
Discount: $3,166.10
Selling Price: $46,418.90
Aftermarket: $299.95 (Paint protection they refuse to take off they say its applied to the coat of vehicle,)
Doc Fee: $595
Acq Fee $595
License Fee: $200
Gross Cap Cost $47,908.85

At end of quote under "Payment" They put on advanced payment of $526.03 and Upfront charge of $337.36 to total $863.39 due on delivery which they said they will cover so I don't owe anything up front (weird as to why even write this into quote?)

Total monthly payment of $526.03 which includes tax.

Putting these numbers into lease calculator i should have a monthly payment of $494 with a drive off of $1325 (but dealer quote said I don't owe anything on delivery)

So can someone help explain this?
Assuming 7% sales tax, the numbers work out, to the penny.

There may be some sort of 'sign and drive' promotion which waives your up front costs. We don't have any information about this, however.

Sales Tax is actually 6% Turns out there computer system has an error on that end. Thank you for your help in confirming the numbers.

Michael,
Where is the $299.95 aftermarket charge belong when figuring out the quote. Is it selling price + aftermarket when working out the numbers? Or just 299.95$ divided by 36 months onto the payment

Any aftermarket accessories cannot be residualized, so it is the total price divided by 36.

smartin104 · November 2016

hi
could you provide the RV and MF for 2017 Acadia AWD SLE-2 24/12, 24/15, 36/12 and 36/15 in northern NJ
thanks

Michaell · November 2016

smartin104 said:
hi
could you provide the RV and MF for 2017 Acadia AWD SLE-2 24/12, 24/15, 36/12 and 36/15 in northern NJ
thanks

24/15 - .00090 and 70%. Add 1% for 12K
36/15 - .00070 and 61%. Add 2% for 12K

johngram22 · November 2016

Hi,

Have not leased a car in my life. Did a lot of research on Edmunds and here is what was offered to me. I did some calculations and I think this is a really high quote. I am going back tomorrow to re-negotiate. Just need some insight.

Thanks to any who comments.

here is a quote for a 2017 Acadia AWD SLT 2 - NJ
Burgandy with ash cloth interior

36 months / 10,000 miles
64% Residual and MF of .00070
$1860 Down
MSRP: $42,795
Selling Price: $40,850
Doc Fee: $595
Acq Fee $595
Vehicle Theft Regs: $199
Gross Cap Cost $42,239

$459.21 Per Month
* 510.87 a month if I put no money down.

I'm also going to ask for a quote for 2017 Acadia FWD SLT 1 - NJ
Burgandy with leather ash interior
$41,660 sticker price..

-John

kyfdx · December 2016

johngram22 said:
Hi,

Have not leased a car in my life. Did a lot of research on Edmunds and here is what was offered to me. I did some calculations and I think this is a really high quote. I am going back tomorrow to re-negotiate. Just need some insight.

Thanks to any who comments.

here is a quote for a 2017 Acadia AWD SLT 2 - NJ
Burgandy with ash cloth interior

36 months / 10,000 miles
64% Residual and MF of .00070
$1860 Down
MSRP: $42,795
Selling Price: $40,850
Doc Fee: $595
Acq Fee $595
Vehicle Theft Regs: $199
Gross Cap Cost $42,239

$459.21 Per Month
* 510.87 a month if I put no money down.

I'm also going to ask for a quote for 2017 Acadia FWD SLT 1 - NJ
Burgandy with leather ash interior
$41,660 sticker price..

-John

I agree with the money factor and residual.

I guess the $1860 upfront is first payment, tax, dmv fees?
If so, I get $461/mo, which is very close.

$2000 off MSRP, but giving $600 back for a doc fee, means you aren't getting a very big discount ($1400).
Other than that, the rest of the deal looks good. You need a lower selling price.

mustangz5 · December 2016

Hello! Do you have the December MF & Residuals for AWD SLT-2 & Denali. 36/12 and 36/15?

Michaell · December 2016

mustangz5 said:
Hello! Do you have the December MF & Residuals for AWD SLT-2 & Denali. 36/12 and 36/15?

36/15 - .00070 and 61% (SLT-2) or 63% (Denali). Add 2% for 12K

mustangz5 · December 2016

Michaell said:

mustangz5 said:
Hello! Do you have the December MF & Residuals for AWD SLT-2 & Denali. 36/12 and 36/15?
36/15 - .00070 and 61% (SLT-2) or 63% (Denali). Add 2% for 12K

Thanks! Any incentives this month? Meant to add that.

Michaell · December 2016

mustangz5 said:

Michaell said:

mustangz5 said:
Hello! Do you have the December MF & Residuals for AWD SLT-2 & Denali. 36/12 and 36/15?
36/15 - .00070 and 61% (SLT-2) or 63% (Denali). Add 2% for 12K
Thanks! Any incentives this month? Meant to add that.

No incentives that we see.

johngram22 · December 2016

I agree with the money factor and residual.

I guess the $1860 upfront is first payment, tax, dmv fees?
If so, I get $461/mo, which is very close.

$2000 off MSRP, but giving $600 back for a doc fee, means you aren't getting a very big discount ($1400).
Other than that, the rest of the deal looks good. You need a lower selling price.
--------------------------------------------------------------------------

Thanks this is what I got in the end after using Edmunds lease calculator and traded AWD and cloth for FWD and leather. Yes the upfront was first payment, tax, dmv fees.

2017 Acadia FWD SLT 1 - NJ
Burgandy with Leather Ash interior.

* They came at me with $1,872 upfront and $462 a month,
* I got the car for $1,872 upfront and $422 a month.
* Also got the $700 Costco gift card as well.

36 months / 12,000 miles ** Got the extra 6000 miles **
63% Residual and MF of .00070
$1872 Upfront
MSRP: $41,660
Selling Price: $39,660
Doc Fee: $349.00
Motor vehicle 459.00
Vehicle Theft Regs: $199

I felt the deal was competitive. Hope this helps anyone? Should I feel I got a decent deal?

Thanks, John

cosmo26 · December 2016

Heres a deal being offered by a dealer seems very high to me for AWD 2017 acadia sle2
Msrp 40,475
Costco negotiated price 38,738
Residual 63%
Money factor .0007
900 down covers 1st payment and dmv fees
NY tax 8.675 rolled into lease
There also paying my two remaining gmc payments using the pull ahead program totaling $700
3 years 36000 miles

Dealer gave me a price of 475 a month

Is something off or is this just a bad vehicle to lease. Seems very high for not getting leather or higher model

Michaell · December 2016

cosmo26 said:
Heres a deal being offered by a dealer seems very high to me for AWD 2017 acadia sle2
Msrp 40,475
Costco negotiated price 38,738
Residual 63%
Money factor .0007
900 down covers 1st payment and dmv fees
NY tax 8.675 rolled into lease
There also paying my two remaining gmc payments using the pull ahead program totaling $700
3 years 36000 miles
Dealer gave me a price of 475 a month
Is something off or is this just a bad vehicle to lease. Seems very high for not getting leather or higher model

I get $413/mo before tax. The tax amount and acquisition fee will make up some of the difference. It's also possible that the $700 in remaining payments are being added in, as well.

cosmo26 · December 2016

Thanks. I had another dealer offer me 419 for same car. Seems to be a good price. I wasn't able to get the price of the car from them just the monthly payment though. Do you think there's room to go lower or is 419 a fair deal?

Michaell · December 2016

cosmo26 said:
Thanks. I had another dealer offer me 419 for same car. Seems to be a good price. I wasn't able to get the price of the car from them just the monthly payment though. Do you think there's room to go lower or is 419 a fair deal?

We always tell folks to negotiate the price, not the payment. That way, you can calculate everything yourself and know that there aren't 'hidden' charges somewhere.

joe_m404 · December 2016

Hate to ask redundant question but I need the December RV and MF for a 2017 Acadia Denali FWD lease in Georgia.
Looking for a 10K mile lease, +/- 3 year term.
Thanks
Joe

Michaell · December 2016

joe_m404 said:
Hate to ask redundant question but I need the December RV and MF for a 2017 Acadia Denali FWD lease in Georgia.
Looking for a 10K mile lease, +/- 3 year term.
Thanks
Joe

.00070 and 66%

mwehner · December 2016

johngram22 said:

Thanks this is what I got in the end after using Edmunds lease calculator and traded AWD and cloth for FWD and leather. Yes the upfront was first payment, tax, dmv fees.

2017 Acadia FWD SLT 1 - NJ
Burgandy with Leather Ash interior.

* They came at me with $1,872 upfront and $462 a month,
* I got the car for $1,872 upfront and $422 a month.
* Also got the $700 Costco gift card as well.

36 months / 12,000 miles ** Got the extra 6000 miles **
63% Residual and MF of .00070
$1872 Upfront
MSRP: $41,660
Selling Price: $39,660
Doc Fee: $349.00
Motor vehicle 459.00
Vehicle Theft Regs: $199

I felt the deal was competitive. Hope this helps anyone? Should I feel I got a decent deal?

Thanks, John

John,

I was at a GMC dealer (in NJ) last night looking at an almost identical Acadia. I showed them your deal and told them if they could do the same deal I would get it. They told me that the math is off by $1000 and that you must have had the Competitor Lease rebate which is currently $1500. I only qualify for the Loyalty Lease which is $500. Did you get any rebates that weren't mentioned in your earlier post or are they blowing smoke?

Thanks.

Mike

ristaze1 · December 2016

2017 Denali...With a MSRP of $50185. What price should I be shooting for? 5% off?
Also what is the invoice price on that and should I try and negotiate under invoice?
Thanks in advance for the help.

kyfdx · December 2016

ristaze1 said:
2017 Denali...With a MSRP of $50185. What price should I be shooting for? 5% off?
Also what is the invoice price on that and should I try and negotiate under invoice?
Thanks in advance for the help.

You can look up the invoice price by using the make/model/year tabs at the top of the page.

While there, you can also see Edmunds TMV, which is an average of what other buyers are paying.

cosmo26 · December 2016

Ok I have another offer seems to be a better deal what do you think sle 2 with sunroof and 8 inch bose radio awd
3 years 36000
Msrp: 41905
Costco sale price:39700
Offering me additional 1000 consumer cash
500 loyalty rebate
500 farm bureau rebate
Residual 63%
M.f. .0007
Tax in my ny area is 8.675

Total monthly cost 414 with just mv fees and 1st payment down

kyfdx · December 2016

cosmo26 said:
Ok I have another offer seems to be a better deal what do you think sle 2 with sunroof and 8 inch bose radio awd
3 years 36000
Msrp: 41905
Costco sale price:39700
Offering me additional 1000 consumer cash
500 loyalty rebate
500 farm bureau rebate
Residual 63%
M.f. .0007
Tax in my ny area is 8.675

Total monthly cost 414 with just mv fees and 1st payment down

Calculations look about right.

lwolf99 · December 2016

Hello. Can I please have the December MF and Residual% numbers for a 2017 Acadia Denali AWD in PA - for 24 and 36 months, with 15k miles? Also, any current incentives? My current vehicle is a 2014 Acadia Denali coming off a lease from Ally. Thank you in advance.

kyfdx · December 2016

lwolf99 said:
Hello. Can I please have the December MF and Residual% numbers for a 2017 Acadia Denali AWD in PA - for 24 and 36 months, with 15k miles? Also, any current incentives? My current vehicle is a 2014 Acadia Denali coming off a lease from Ally. Thank you in advance.

.00090 MF and 72% residual
.00070 MF and 63% residual

No incentive information. Our numbers are only for GM Financial.

NJCarOwner · December 2016

Hi can you please tell me the MF and residual for the 2017 Acadia SLE-2 for 36 months, 10k miles per year including the V6, 8 inch touch screen and driver alert in NJ?

Also looking for the lease incentives when switching from a competitor.

Thanks!

Michaell · December 2016

mschuh2581 said:
Hi can you please tell me the MF and residual for the 2017 Acadia SLE-2 for 36 months, 10k miles per year including the V6, 8 inch touch screen and driver alert in NJ?

Also looking for the lease incentives when switching from a competitor.

Thanks!

.00070 and 63%

No conquest incentive information.

NJCarOwner · December 2016

Thank you. Is it the same for the SLT-1, 36 and 10k?

Also can you please tell me both for the 39 month leases also at 10k?

Michaell · December 2016

mschuh2581 said:
Thank you. Is it the same for the SLT-1, 36 and 10k?

Also can you please tell me both for the 39 month leases also at 10k?

Same for SLT-1

Subtract 2% for 39 months; same MF

joe_m404 · December 2016

I am looking for some information regarding the TAVT in the state of GA and trading in a lease.
Is there a particular forum that I should find?

kyfdx · December 2016

joe_m404 said:
I am looking for some information regarding the TAVT in the state of GA and trading in a lease.
Is there a particular forum that I should find?

Go ahead and ask here, we'll try to answer.

NJCarOwner · December 2016

How does this offer look, NJ, 39/10:

SLE-2 FWD with V6, MSRP $37090, selling price of $34,485, money factor 0.00065, residual of $22,865, payment of $379 per month including taxes and fees and sign and drive so only have to make 38 payments

Michaell · December 2016

mschuh2581 said:
How does this offer look, NJ, 39/10:

SLE-2 FWD with V6, MSRP $37090, selling price of $34,485, money factor 0.00065, residual of $22,865, payment of $379 per month including taxes and fees and sign and drive so only have to make 38 payments

What is the adjusted cap cost, with all the fees and taxes added in?

NJCarOwner · December 2016

May be able to get better deal...looks like my wife's company gives her eligibility for the GM Supplier discount.

Any idea what this entails for the Acadia? Do different models get a better incentive?

Thanks again for all of your help.

Michaell · December 2016

mschuh2581 said:
May be able to get better deal...looks like my wife's company gives her eligibility for the GM Supplier discount.

Any idea what this entails for the Acadia? Do different models get a better incentive?

Thanks again for all of your help.

The GM Supplier Discount offers a fixed price for a model - it's an OK discount, but you may be able to get a better number negotiating on your own.

NJCarOwner · December 2016

Got it, so not something you can combine?

Michaell · December 2016

mschuh2581 said:
Got it, so not something you can combine?

Combine with what? You can apply any incentives on top of the GMS pricing.

NJCarOwner · December 2016

Got it...thanks!

joe_m404 · December 2016

kyfdx said:

joe_m404 said:
I am looking for some information regarding the TAVT in the state of GA and trading in a lease.
Is there a particular forum that I should find?
Go ahead and ask here, we'll try to answer.

OK. Thanks.
I used all advice learned here (thank you!) and walked into the GMC dealer to lease the 2017 GMC Acadia Denali. Knew the exact stock number of the vehicle, rebates, appropriate price to negotiate, RV, money factor, etc. I had already calculated the exact lease structure and payment amount based upon all of the known fees, taxes, etc and was ready to get it done.

Some background: in Georgia, when you purchase or lease a vehicle, you must pay a title ad valorem tax (TAVT) on the fair market value of the vehicle (higher of the vehicle selling price or price listed in dept of revenue publication). When you trade a vehicle in that is titled in your name and apply the trade in value to the new lease, you get a tax break for the trade in value given by the dealer which is subtracted from the total TAVT owed. The law is very clear in that if you turn the vehicle in at the end of the lease, you are NOT entitled to the TAVT break as the vehicle is not titled in your name (regardless of whether it is the same or different Lessor) and you are not the owner. Documents from the GA dept of revenue clarify this with multiple examples. HOWEVER, it does not clearly state whether or not you are entitled to the tax break if you trade the vehicle in BEFORE the maturation of the lease and the new dealer covers the complete payoff amount of the lease. Given the very clear language of the law ( the tax break is available to the titled owner), I made the assumption that I would not be entitled to this tax break. I therefore calculated my tax owed based upon the full value of the vehicle.

When I sat down to go over the numbers with the sales manager (who, I might add, appeared to be knowledgeable and up-front and I had no issues negotiating reasonable figures with), he put the tax credit on his worksheet. I (possibly very foolishly) pointed out that I was not entitled to this tax credit. I was concerned that this would come back to bite me from the state if I was given the tax credit, OR that when I was sitting down with the finance manager, that we would start to go round and round and confuse the issue. The sales manager went in the back, then came back and thanked me and removed the tax credit. We proceeded to go over the lease terms and came to the exact figures that I calculated for the lease (to the penny!)

Here is my question (finally). Am I entitled to this tax credit given the fact that I was trading in the vehicle and the dealer was paying off my payoff amount? Is this some kind of loophole that I was unaware of?
Most importantly, did I just give the dealer an additional $2000 back for no reason and if so, should I pursue this?

I realize that this is a pretty nuanced question but I have gotten nowhere with the GA dept of revenue.

Michaell · December 2016

joe_m404 said:

kyfdx said:

joe_m404 said:
I am looking for some information regarding the TAVT in the state of GA and trading in a lease.
Is there a particular forum that I should find?
Go ahead and ask here, we'll try to answer.
OK. Thanks.
I used all advice learned here (thank you!) and walked into the GMC dealer to lease the 2017 GMC Acadia Denali. Knew the exact stock number of the vehicle, rebates, appropriate price to negotiate, RV, money factor, etc. I had already calculated the exact lease structure and payment amount based upon all of the known fees, taxes, etc and was ready to get it done.

Some background: in Georgia, when you purchase or lease a vehicle, you must pay a title ad valorem tax (TAVT) on the fair market value of the vehicle (higher of the vehicle selling price or price listed in dept of revenue publication). When you trade a vehicle in that is titled in your name and apply the trade in value to the new lease, you get a tax break for the trade in value given by the dealer which is subtracted from the total TAVT owed. The law is very clear in that if you turn the vehicle in at the end of the lease, you are NOT entitled to the TAVT break as the vehicle is not titled in your name (regardless of whether it is the same or different Lessor) and you are not the owner. Documents from the GA dept of revenue clarify this with multiple examples. HOWEVER, it does not clearly state whether or not you are entitled to the tax break if you trade the vehicle in BEFORE the maturation of the lease and the new dealer covers the complete payoff amount of the lease. Given the very clear language of the law ( the tax break is available to the titled owner), I made the assumption that I would not be entitled to this tax break. I therefore calculated my tax owed based upon the full value of the vehicle.

When I sat down to go over the numbers with the sales manager (who, I might add, appeared to be knowledgeable and up-front and I had no issues negotiating reasonable figures with), he put the tax credit on his worksheet. I (possibly very foolishly) pointed out that I was not entitled to this tax credit. I was concerned that this would come back to bite me from the state if I was given the tax credit, OR that when I was sitting down with the finance manager, that we would start to go round and round and confuse the issue. The sales manager went in the back, then came back and thanked me and removed the tax credit. We proceeded to go over the lease terms and came to the exact figures that I calculated for the lease (to the penny!)

Here is my question (finally). Am I entitled to this tax credit given the fact that I was trading in the vehicle and the dealer was paying off my payoff amount? Is this some kind of loophole that I was unaware of?
Most importantly, did I just give the dealer an additional $2000 back for no reason and if so, should I pursue this?

I realize that this is a pretty nuanced question but I have gotten nowhere with the GA dept of revenue.

First - I don't live in GA
Second - I'm not an accountant, or a tax expert

I'm just a guy on the 'net trying to help folks buy and lease cars.

That said, you didn't own the leased vehicle you traded in, so I don't believe you were entitled to any sales tax credit. Looks like your Acadia lease deal was consummated correctly.

joe_m404 · December 2016

Michaell said:

joe_m404 said:

kyfdx said:

joe_m404 said:
I am looking for some information regarding the TAVT in the state of GA and trading in a lease.
Is there a particular forum that I should find?
Go ahead and ask here, we'll try to answer.
OK. Thanks.
I used all advice learned here (thank you!) and walked into the GMC dealer to lease the 2017 GMC Acadia Denali. Knew the exact stock number of the vehicle, rebates, appropriate price to negotiate, RV, money factor, etc. I had already calculated the exact lease structure and payment amount based upon all of the known fees, taxes, etc and was ready to get it done.

Some background: in Georgia, when you purchase or lease a vehicle, you must pay a title ad valorem tax (TAVT) on the fair market value of the vehicle (higher of the vehicle selling price or price listed in dept of revenue publication). When you trade a vehicle in that is titled in your name and apply the trade in value to the new lease, you get a tax break for the trade in value given by the dealer which is subtracted from the total TAVT owed. The law is very clear in that if you turn the vehicle in at the end of the lease, you are NOT entitled to the TAVT break as the vehicle is not titled in your name (regardless of whether it is the same or different Lessor) and you are not the owner. Documents from the GA dept of revenue clarify this with multiple examples. HOWEVER, it does not clearly state whether or not you are entitled to the tax break if you trade the vehicle in BEFORE the maturation of the lease and the new dealer covers the complete payoff amount of the lease. Given the very clear language of the law ( the tax break is available to the titled owner), I made the assumption that I would not be entitled to this tax break. I therefore calculated my tax owed based upon the full value of the vehicle.

When I sat down to go over the numbers with the sales manager (who, I might add, appeared to be knowledgeable and up-front and I had no issues negotiating reasonable figures with), he put the tax credit on his worksheet. I (possibly very foolishly) pointed out that I was not entitled to this tax credit. I was concerned that this would come back to bite me from the state if I was given the tax credit, OR that when I was sitting down with the finance manager, that we would start to go round and round and confuse the issue. The sales manager went in the back, then came back and thanked me and removed the tax credit. We proceeded to go over the lease terms and came to the exact figures that I calculated for the lease (to the penny!)

Here is my question (finally). Am I entitled to this tax credit given the fact that I was trading in the vehicle and the dealer was paying off my payoff amount? Is this some kind of loophole that I was unaware of?
Most importantly, did I just give the dealer an additional $2000 back for no reason and if so, should I pursue this?

I realize that this is a pretty nuanced question but I have gotten nowhere with the GA dept of revenue.
First - I don't live in GA
Second - I'm not an accountant, or a tax expert

I'm just a guy on the 'net trying to help folks buy and lease cars.

That said, you didn't own the leased vehicle you traded in, so I don't believe you were entitled to any sales tax credit. Looks like your Acadia lease deal was consummated correctly.

I appreciate all of your info. I was just responding to "kyfdx".
In any event, I got a good price, an excellent lease deal, a good allowance on my trade and I can sleep with myself at night (although I do hate paying taxes!)
Joe

NJCarOwner · December 2016

Can I also please have the MF and residual for the following 2017 Acadia's, 36 and 39 months, 10k miles per year in NJ:

SLE-2 with V6, 8 inch touch screen and AWD
SLT-1 with AWD

Michaell · December 2016

joe_m404 said:

Michaell said:

joe_m404 said:

kyfdx said:

joe_m404 said:
I am looking for some information regarding the TAVT in the state of GA and trading in a lease.
Is there a particular forum that I should find?
Go ahead and ask here, we'll try to answer.
OK. Thanks.
I used all advice learned here (thank you!) and walked into the GMC dealer to lease the 2017 GMC Acadia Denali. Knew the exact stock number of the vehicle, rebates, appropriate price to negotiate, RV, money factor, etc. I had already calculated the exact lease structure and payment amount based upon all of the known fees, taxes, etc and was ready to get it done.

Some background: in Georgia, when you purchase or lease a vehicle, you must pay a title ad valorem tax (TAVT) on the fair market value of the vehicle (higher of the vehicle selling price or price listed in dept of revenue publication). When you trade a vehicle in that is titled in your name and apply the trade in value to the new lease, you get a tax break for the trade in value given by the dealer which is subtracted from the total TAVT owed. The law is very clear in that if you turn the vehicle in at the end of the lease, you are NOT entitled to the TAVT break as the vehicle is not titled in your name (regardless of whether it is the same or different Lessor) and you are not the owner. Documents from the GA dept of revenue clarify this with multiple examples. HOWEVER, it does not clearly state whether or not you are entitled to the tax break if you trade the vehicle in BEFORE the maturation of the lease and the new dealer covers the complete payoff amount of the lease. Given the very clear language of the law ( the tax break is available to the titled owner), I made the assumption that I would not be entitled to this tax break. I therefore calculated my tax owed based upon the full value of the vehicle.

When I sat down to go over the numbers with the sales manager (who, I might add, appeared to be knowledgeable and up-front and I had no issues negotiating reasonable figures with), he put the tax credit on his worksheet. I (possibly very foolishly) pointed out that I was not entitled to this tax credit. I was concerned that this would come back to bite me from the state if I was given the tax credit, OR that when I was sitting down with the finance manager, that we would start to go round and round and confuse the issue. The sales manager went in the back, then came back and thanked me and removed the tax credit. We proceeded to go over the lease terms and came to the exact figures that I calculated for the lease (to the penny!)

Here is my question (finally). Am I entitled to this tax credit given the fact that I was trading in the vehicle and the dealer was paying off my payoff amount? Is this some kind of loophole that I was unaware of?
Most importantly, did I just give the dealer an additional $2000 back for no reason and if so, should I pursue this?

I realize that this is a pretty nuanced question but I have gotten nowhere with the GA dept of revenue.
First - I don't live in GA
Second - I'm not an accountant, or a tax expert

I'm just a guy on the 'net trying to help folks buy and lease cars.

That said, you didn't own the leased vehicle you traded in, so I don't believe you were entitled to any sales tax credit. Looks like your Acadia lease deal was consummated correctly.
I appreciate all of your info. I was just responding to "kyfdx".
In any event, I got a good price, an excellent lease deal, a good allowance on my trade and I can sleep with myself at night (although I do hate paying taxes!)
Joe

But, you like driving on nice roads, and know that the police and fire departments are there if you need them.

Taxes are a necessary evil in our society.

Congrats! Looks like a solid deal.

Michaell · December 2016

mschuh2581 said:
Can I also please have the MF and residual for the following 2017 Acadia's, 36 and 39 months, 10k miles per year in NJ:

SLE-2 with V6, 8 inch touch screen and AWD
SLT-1 with AWD

36/10 - .00070 and 64%
39/10 - .00070 and 61%

Both trims.

kyfdx · December 2016

@joe_m404

You traded in a leased vehicle, and leased another vehicle?

No chance of a trade in credit with that scenario. No matter how the payoff was handled.

lwolf99 · December 2016

Hello. I am getting ready to lease a 2017 GMC Acadia Denali.

I am looking to add the following dealer accessories to the vehicle at the dealership:
• Cargo Liner – Custom Molded, PartNo= 23398828, MSRP = $125
• Front Molded Splash Guards (without assist steps), PartNo=84082743, MSRP = $50
• Rear Molded Splash Guards, PartNo=84082742, MSRP = $50
• Contoured All-Weather Floor Liners - Second Row, Jet Black, PartNo=23356364, MSRP=$80.00
• Floor Liners, Premium All-Weather, Third Row Jet Black, 6 passenger, PartNo=23356370 , MSRP=$80.00
• Floor Liners - Premium All-Weather, Front Row, Jet Black, PartNo=84128107, MSRP=$110.00
• Total accessories, MSRP = $495

Would the affect on the monthly lease payment be $495/24 month lease = $20.63?

Our do I get the benefit of residual $495*(1 - 0.72 residual)=$138.60 /24 month lease = $5.78?

Thanks in advance.

kyfdx · December 2016

lwolf99 said:
Hello. I am getting ready to lease a 2017 GMC Acadia Denali.

I am looking to add the following dealer accessories to the vehicle at the dealership:
• Cargo Liner – Custom Molded, PartNo= 23398828, MSRP = $125
• Front Molded Splash Guards (without assist steps), PartNo=84082743, MSRP = $50
• Rear Molded Splash Guards, PartNo=84082742, MSRP = $50
• Contoured All-Weather Floor Liners - Second Row, Jet Black, PartNo=23356364, MSRP=$80.00
• Floor Liners, Premium All-Weather, Third Row Jet Black, 6 passenger, PartNo=23356370 , MSRP=$80.00
• Floor Liners - Premium All-Weather, Front Row, Jet Black, PartNo=84128107, MSRP=$110.00
• Total accessories, MSRP = $495

Would the affect on the monthly lease payment be $495/24 month lease = $20.63?

Our do I get the benefit of residual $495*(1 - 0.72 residual)=$138.60 /24 month lease = $5.78?

Thanks in advance.

I don't think any of those accessories can be residualized. If you were adding a tow hitch, roof rails or running boards, then possibly (though not to the level you would pay for them).

So. $20.63/mo. + finance charge + tax.

lwolf99 · December 2016

kyfdx said:

lwolf99 said:
Hello. I am getting ready to lease a 2017 GMC Acadia Denali.

I am looking to add the following dealer accessories to the vehicle at the dealership:
• Cargo Liner – Custom Molded, PartNo= 23398828, MSRP = $125
• Front Molded Splash Guards (without assist steps), PartNo=84082743, MSRP = $50
• Rear Molded Splash Guards, PartNo=84082742, MSRP = $50
• Contoured All-Weather Floor Liners - Second Row, Jet Black, PartNo=23356364, MSRP=$80.00
• Floor Liners, Premium All-Weather, Third Row Jet Black, 6 passenger, PartNo=23356370 , MSRP=$80.00
• Floor Liners - Premium All-Weather, Front Row, Jet Black, PartNo=84128107, MSRP=$110.00
• Total accessories, MSRP = $495

Would the affect on the monthly lease payment be $495/24 month lease = $20.63?

Our do I get the benefit of residual $495*(1 - 0.72 residual)=$138.60 /24 month lease = $5.78?

Thanks in advance.
I don't think any of those accessories can be residualized. If you were adding a tow hitch, roof rails or running boards, then possibly (though not to the level you would pay for them).

So. $20.63/mo. + finance charge + tax.

Okay, thanks. I was thinking that since I could order a vehicle from the factory with those accessories, in which case the costs would be on the sticker and would be residualized, that the same would happen if I found a vehicle on the lot without them and we added them. But the dealer quote was the way you outlined (not residualized). Rats!

kyfdx · December 2016

lwolf99 said:

kyfdx said:

lwolf99 said:
Hello. I am getting ready to lease a 2017 GMC Acadia Denali.

I am looking to add the following dealer accessories to the vehicle at the dealership:
• Cargo Liner – Custom Molded, PartNo= 23398828, MSRP = $125
• Front Molded Splash Guards (without assist steps), PartNo=84082743, MSRP = $50
• Rear Molded Splash Guards, PartNo=84082742, MSRP = $50
• Contoured All-Weather Floor Liners - Second Row, Jet Black, PartNo=23356364, MSRP=$80.00
• Floor Liners, Premium All-Weather, Third Row Jet Black, 6 passenger, PartNo=23356370 , MSRP=$80.00
• Floor Liners - Premium All-Weather, Front Row, Jet Black, PartNo=84128107, MSRP=$110.00
• Total accessories, MSRP = $495

Would the affect on the monthly lease payment be $495/24 month lease = $20.63?

Our do I get the benefit of residual $495*(1 - 0.72 residual)=$138.60 /24 month lease = $5.78?

Thanks in advance.
I don't think any of those accessories can be residualized. If you were adding a tow hitch, roof rails or running boards, then possibly (though not to the level you would pay for them).

So. $20.63/mo. + finance charge + tax.
Okay, thanks. I was thinking that since I could order a vehicle from the factory with those accessories, in which case the costs would be on the sticker and would be residualized, that the same would happen if I found a vehicle on the lot without them and we added them. But the dealer quote was the way you outlined (not residualized). Rats!

Yes.. on the sticker, residualized. Dealer installed = usually not.

The dealer does have a list of accessories that can be residualized, but they are usually the hard items that can't be easily removed, and the level of residualization is pretty low.

This was abused by dealers in the '90s, and has been cracked down on.

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