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Has anyone received and used the $2000 GM lease offer certificate? I received one in the mail. As I understand it it can be used either to pay off your current lease (non-gm included) or towards the purchase or lease of a new 07 or 08 vehicle. It states on the back that "the eligible cash payment will be made directly to the lessee, and GM does not assume any obligations of lessee." Since the payment would be made directly to the person using the certificate, would that be reportable income and therefore be taxed? If that is the case, I would think it would make more sense to use it towards a new lease or purchase. And, if used towards a new lease, is that amount taken directly off the purchase price, or is it viewed as a capatilized cost reduction (ie, "money down toward lease") when calculating the lease payment? I know one rule of thumb when leasing is "never pay money down," but in a way this would be using GM's money instead, right?

you can check it out at www.gm.com/leaseoffer/feb08 or www.gm.com/leaseoffer/certificate
 

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As it says, it looks to just be used for 1) paying down anything extra still owed for your current lease (such as you're over the miles, turning it in extra early, etc.) or 2) just as cap cost reduction (which, regardless, is what ANY money put down on a lease is) for the new vehicle you're leasing.

It's basically just $2000 you can use in whatever way(s) needed/wanted if going from one current GM lease to a new one, worked out however you and the dealer see fit.

Like any other incentive or rebate though...you can't just take the cash from it, etc. It's bonus money/rebate that has to be applied to a deal, and has no factoring in on your income, etc.
 
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