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You lucky GM folks..... Posted by Mike Lynch [Email]  (#81) [Profile/Gallery]
(more from Mike Lynch) on Tue, 21 Jan 2003 17:02:22
In Reply to: Value of GM Supplier Discount w/Incentives (long), gatorcpa, Mon, 20 Jan 2003 15:02:20 Members see ZERO ads on the bulletin boards and get more feature. - Help Keep This Site Online - Signup |
get the car for the supplier price listed right on the invoice non-negotiable. The $3,000 lease incentive is added to your down payment which results in a tax on the down payment component of your drive offs called a cap reduction. Like we advertise a GMC truck, "your net price", means that yeah it's a $5,800 discount, $2,800 off for supplier, the cap cost is the supplier price right on the invoice, $40k ish, and then you get the $3,000 lease incentive as a rebate from Saab to use towards your drive offs. So....if you put down the national ad amount down of $3,500 out of your pocket your lease contract will show $7,000 in drive offs. That's the $3,000 from Saab, your $3,500 and the $500 Saab loyalty, which will break down to $7,000 less the first payment and license (security deposit normally waived for current lessees), say a $450ish payment and $350ish license fees = $800ish say depending on local tax and license and the remaining $6,200 will be a cap reduction including sales tax so there in San Diego that's $6,200 / 1.0775 (7.75% sales tax) = $5,754 plus tax of $446 = $6,200 plus the first payment and the license for a total of $7k.
As GM supplier info is public, the Saab incentive shifts over to a rebate. It becomes cash to you, instead of cash to the dealer to lower the cap or selling price to the lease company. Same amounts, just a different tax treatment Same on a purchase.
If you weren't GMS, just a previous Saab lessee, then you would deduct your $500 loyalty and the security deposit from the $3,500 and you would only need around $2,500ish in drive offs to get the ad lease. It's a little tricky as the nationally advertised $3,500 doesn't include the the local sales tax on the $2,200 cap reduction component of the $3,500, or the local license fees. So technically in San Diego $3,500 becomes $3,900 ish because of $170 in sales tax and $300 in license. So you take the total drive offs, deduct the first payment and license fees and a security deposit if included, and whatevers left is a cap reduction including sales tax.
posted by 207.158.49...
, Tue, 21 Jan 2003 17:02:22 <-- Viewing This Message
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