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Prices Paid: Buying & Leasing Experiences Chevrolet Tahoe Lease Questions
246 messages, Last post on Jul 22, 2008 at 2:22 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: Car_man (Aug 31, 2005 3:30 am) My "buyout" for the lease as of today is 42,900. At the end of my lease, Sept. 2010, the residual value will be 27,000. My question is: Did I get hosed? I would like to buy the new TL when it comes out in Fall of 2008, but I am afraid I will be completely upside down on my Tahoe. Did I get hosed at the dealer?
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Replying to: rmonti12000 (Sep 11, 2007 11:55 pm) ___________________________________________________________ You are correct...you are and will continue to be "upside down" on your lease. Good deal or bad deal, you are underwater.
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Replying to: patcomb (Sep 11, 2007 10:26 am) Thanks |
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Replying to: rockman59 (Sep 16, 2007 9:52 pm)
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Replying to: rmonti12000 (Sep 17, 2007 9:00 pm) You are 1 year into a 4 year deal, and will be upside down on that transaction for the life of the lease. IMO, probably the worst thing you could is roll that upside down difference into your next lease, by exiting early. You roll the difference, plus the cost of the dealer profit from another transaction. I'd suggest riding out your current lease to the end. What you could calculate as a financial exercise, is figure out how much upside down you are, add in a couple more grand of transaction fees(exiting old, entering new), taxes, etc..... and figure out what that would amount to with interest as an increment to some clean new lease. Lets say it adds 200 per month to whatever a clean lease would be. Force yourself to put that 200/month into a kitty for your next vehicle (in three years). You'd have about 7K in the kitty, which could totally change how you approach the next vehicle acquisition. |
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Looking at the 2008 Tahoe LTZ: MSRP of $53,320 Net cap cost $45,500 (includes $1,000 from GM and $1,000 in dealer coupons) 39 month lease 12k miles/year 62% residual lease APR 7.9% (this is where I have an issue, several dealers in Delaware are stating that the rate is now 7.2% but this dealer says that to avoid acquisition fee of $595, they bump the rate. I could pay the acq fee and keep the rate lower) monthly payment including tax $613.34 down including tax, tags, title $2,113.54 Please let me know if you have any feedback...thanks!!
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Hi all, 2007 Tahoe, LT2 Package + Entertainment ($800 value) MSRP: $40485 Residual: $25100 Buy rate: 7.4 Dealer Cost: $35586 Selling Price: $36386 (Includes $800 for Ent. System) Cash Rebate: $3000 Total Cap Cost: $34218 They want $2800 down and the payment will be 454/mo (inc. tax) on a smartlease 39mo/12000yr What do you think. Is there any room for negotiations? Thank you |
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Replying to: patcomb (Sep 25, 2007 11:36 am) Thanks |
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I have an expensive desire to trade into a Tahoe - here is the damages...  I financed a 2005 Bonneville SE and owe $15,977.33 (upside down from a previous car marriage) KBB says Excellent $11,100.00 Good $10,335.00 Fair $9,010.00 Going with the middle ground I am $5,642.33 upside down... A beautiful Tahoe LT3 4WD I found is... MSRP $50,470.00 GMS $43,982.33 Offers $4,000 Net Price $39,982.33 Added upside down effect $45,624.66 So my post is two part.. A) With the way the economy is, is *NOW* the time to buy an '07 Tahoe?? There are two 07's on the lot right now. Are '08's out? Would December be a better time to buy an '08 or is 11k off MSRP the best it will ever be? B) What would my break down be for due at signing (as close to zero as possible) and monthly payments? Aside from if this is a good idea or not, I don't know. I can absorb the upside down into 11k off MSRP. I can lease and never be upside down again, nor will I have to keep a car for four years... I REALLY want this... Good news and bad news please! TIA!
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Replying to: pragakhan (Oct 06, 2007 11:05 am) ____________________________________________________________ What does the economy have to do with your buying now? Are you afraid of losing your job? If so don't make things worse by going deeper into debt. If you never want to be "upside down" again then bite the bullet and pay off your current vehicle and start fresh, or at least keep the current ride until it is worth what you owe. REALLY wanting a new car is how people get in $$$ trouble. Buy a new car when you can make the right deal...and the right deal does not include rolling over an unpaid balance of your current car into a new contract/lease/whatever.
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