- #33 of 67
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Re: 2007 Lease Rate for K2500 Suburban [hsensi]
by Car_man HOST
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Apr 11, 2007 (3:11 am)
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Replying to: hsensi (Mar 11, 2007 4:58 pm)
Greetings hsensi. You're right, the $2,000 customer cash that is currently available on the 2007 Chevrolet Suburban is not available on GMAC leases. Is the selling price that you mentioned in your an estimate that you came up with or did the dealer actually quote it to you? Make sure that you find out exactly what this truck's price is before committing to lease it. If the selling price is actually $46,400, that represents a $2,800 discount from this truck's MSRP. The truck that you described probably has a spread of around $4,800 between its full MSRP and its dealer invoice price. I am not intimately familiar with what the market is like for the '07 Suburban in your ares, but you still have $2,000 to play with. If you haven't already, it wouldn't hurt to shop around to see if you can beat this price.
Car_man
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- #34 of 67
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Re: 2007 chevy suburban leases [my3boys1]
by Car_man HOST
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Apr 11, 2007 (3:15 am)
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Replying to: my3boys1 (Apr 10, 2007 1:18 pm)
Hello my3boys1. While General Motors is technically running a "special" lease program on the 2007 Chevrolet Suburban and the 2007 GMC Yukon XL right now, it's not that great. The $2,000 customer cash that is currently available on the '07 Suburban is not compatible with GMAC's lease program and its current lease rate for this truck is 6.9%. Its lease rate for the '07 GMC Yukon XL is even worse at 7.2%. GM's lease program for these trucks has been pretty consistent, so I don't expect it to improve much in the near future.
Car_man
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- #35 of 67
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Re: Suburban Lease [newsman]
by newsman
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May 22, 2007 (10:09 am)
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Replying to: Car_man (Apr 11, 2007 3:15 am)
car_man,
Can you help me with the money factor and residual on a 2007 Chevy Suburban LTZ?
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- #36 of 67
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Re: 2007 Lease Rate for K2500 Suburban [yojedi]
by jimmy24
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May 27, 2007 (6:14 am)
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Replying to: yojedi (Feb 21, 2007 9:49 pm)
Guys, two prong problem. My wife leased an 06 volvo xc90 and we are paying about 500/mo for 3 mos. We are about 1 year into lease and car just not big enough- wife wants suburban. Problem one, what is best way to get rid of volvo w/ about 2 years left on lease, am i going to have to eat a lot of money? Problem two, went to Atlanta d'ship yesterday and they quoted 750/mo for 36 mo lease even though suburban only 7-8k more than Volvo. What gives? Is there a comprable suv less in lease? Tahoe? Also, given we're in the lease is there a better time of year when Chevy has incentives on the suburban LT? Thanks and sorry for all the questions.
Jimmy
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- #37 of 67
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Re: 2007 Lease Rate for K2500 Suburban [jimmy24]
by rockman59
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May 28, 2007 (2:00 pm)
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Replying to: jimmy24 (May 27, 2007 6:14 am)
Jimmy24 said: Problem one, what is best way to get rid of volvo w/ about 2 years left on lease, am i going to have to eat a lot of money?
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Probably. 2 years is a long time to be left on a lease you want to bail on. Those $750 payments on a new Suburban may include your lease payoff on the Volvo. Otherwise it seems way high for just the Suburban. Better sharpen up the pencil and see whats going on.
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- #38 of 67
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Re: Suburban Lease [newsman]
by Car_man HOST
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Jun 06, 2007 (3:14 am)
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Replying to: newsman (May 22, 2007 10:09 am)
Here you go, newsman. This truck's lease program varies by term and mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. GMAC's current base lease rate and residual value for a 36 month lease of a 2007 Chevrolet Suburban with 15,000 miles per year are 6.9% and 60%, respectively. As you can see, GMAC publishes lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400.
Car_man
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- #39 of 67
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Re: 2007 Lease Rate for K2500 Suburban [jimmy24]
by Car_man HOST
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Jun 06, 2007 (3:21 am)
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Replying to: jimmy24 (May 27, 2007 6:14 am)
Hello Jimmy. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.
You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
General Motors' lease program on the Suburban is not very attractive, but a $750 lease payment still sounds pretty high. What MSRP and selling price were you quoted for the truck that you want? Let me know and I will give you a detailed analysis of this deal.
Car_man
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- #40 of 67
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Re: 2007 chevy suburban leases [my3boys1]
by isalex
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Sep 01, 2007 (3:58 pm)
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Replying to: my3boys1 (Apr 10, 2007 1:18 pm)
Hi Car-Man:
It is Labor Day wekend (9/1/2007), and I am trying to lease a Chevy Suburban LTZ for 3 yr lease, 12k miles, $700/month or lower. I live in the Daly City, California area. If anyone has hints.referrals, I would surely appreciate it. I am ready to sig up ASAP. The 2008's are in and so I am hoping to catch a good deal on the 2007's. THANK YOU IN ADVANCE!!!!
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- #41 of 67
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Re: 2007 chevy suburban leases [isalex]
by isalex
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Sep 01, 2007 (4:23 pm)
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Replying to: isalex (Sep 01, 2007 3:58 pm)
Oops...I forgot to add that I want to put nothing down, and get the 2007 Suburban LTZ for $700, INCLUDING TAX, or less. I think it is very possible although the dealers will say otherwise. I can smell a big sale after Labor day....am i wrong??
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- #42 of 67
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Press Request
by KarenS HOST
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Nov 08, 2007 (6:13 am)
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A reporter seeks to talk with consumers who just purchased a new large SUV. Please send the make and model of your vehicle along with your daytime contact information to ctalati edmunds.com no later than Thursday, November 8, 2007.
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![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
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