[Alan Spector]

For a new 2020 Bolt Premier does the lease price include the new New Jersey $ 5,000 rebate which the state gives to the leasing company?
That should lower the lease price quite a bit and wipe out any downpayment.

 

[Eriamjh1138]

Some lessors do not pass the rebate of credit to the lessee. You should negotiate the purchase price then say you want a lease and ask for the capitalized cost, residual value, and lease rate.

A loan for the cap cost should be your lease payment. You can determine how if they are giving you the rebate or part of it.


Research how they calculate lease prices and then You will know more than 90% of the people who lease.

 

[The Other Tom]

Some lessors do not pass the rebate of credit to the lessee. You should negotiate the purchase price then say you want a lease and ask for the capitalized cost, residual value, and lease rate.

A loan for the cap cost should be your lease payment. You can determine how if they are giving you the rebate or part of it.


Research how they calculate lease prices and then You will know more than 90% of the people who lease.

The following is my understanding. Please correct me if I'm wrong.
"Lease rate" is sometimes called money factor and is a representation of the interest rate of your loan. Multiply the money factor by 2400 to get the interest rate.
"Cap cost" is the negotiated cost of the car. Subtract the actual residual (usually calculated as residual % multiplied by MSRP) from that and that's how much money you are borrowing.

As you say, lessors aren't required to give you any of the $5000. If they're upfront about it, they'll knock $5000 off the cap cost. They may apply it to the residual value in which case it's harder to tell since residual value is given in %.

 

[ElectricEliminator]

The $5,000 dollar rebate at the moment is applied for by the consumer after the sale. You get a check in the mail. The details of the redemption process have not been released yet, but the Governor of New Jersey is on record saying that NJ residents who purchase or lease after 1/17/20 will be eligible to claim the incentive directly after the fact. The plan is to have a special dealer portal available in the summer time that will allow dealers to claim the money directly and apply it to the price of the car at the point of sale. More convenient? Sure, but that also means that you'll have to deal with a huge song and dance from salespeople about what a tremendous deal they are giving you, when in reality not one penny is coming from their pockets.

 

[Alan Spector]

Thank you -- the state office still doesn't have any details and I need to get a new lease fairly soon.