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Chevrolet Tahoe, Car Leasing, SUV
#46 of 312 Re: 2007 Chevy Tahoe Lease [gatorb8]
Jun 11, 2006 (6:40 am)
Hello gatorb8. A base 2006 Chevrolet Tahoe 4WD has a spread of just over $3,100 between its full MSRP and dealer invoice prices. You are being given a discount of $3,038 on the truck that you are considering. This looks like a very good price to me, especially considering the fact that this is such a new model. Using the numbers that you provided in your post, an MSRP of $44,475 and a selling price of $41,437, and GMAC's actual lease program I estimate that this truck's 36 month, 12,000 mile per year, zero down, pre-tax monthly payment should be around $590. With this lease, you would have to pay your truck's first month's payment of $590, a $600 security deposit, GMAC's $595 acquisition fee, and any required state taxes or fees at lease signing. The payment that you were quoted is higher than this, but it includes sales tax. Just make sure that the dealer you are working with is using GMAC's base lease rate of 7.5% to calculate your truck's monthly payment.
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#47 of 312 Re: 2007 Tahoe Lease [darrenc7]
Jun 11, 2006 (6:51 am)
Whew, I thought that you meant a 58 month lease as well. A 48 month lease is long enough . The selling price that you were quoted for this truck is very attractive, as long as it is not taking your trade in into account. There's nothing wrong with trading in your current truck when leasing, however it would be in your best interest to have the dealer that you are working with cut you a check for it instead of using the proceeds from it as a capitalized cost reduction for your lease. Consumers who make large cap cost reductions when leasing risk losing them if their vehicle is totaled in an accident or stolen and never recovered.
Let's use the prices that you were quoted and GMAC's actual lease program to calculate a lease payment on this truck. According to my calculations, if you were to lease a 2007 Chevrolet Tahoe with an MSRP of $49,238 and a selling price of $44,224 through GMAC right now for 48 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $580. With a $5,000 down payment, which I highly advise against, this payment would drop to around $461.
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#48 of 312 Car_man help, is this a good deal or not??
Aug 01, 2006 (2:11 pm)
Help me out and review this and let me know if this is a good deal or not:
2007 Tahoe 2WD LTZ fully loaded
MSRP with all options I have selected is: $49,270.00 which includes the destination. After all rebates the final sales price is $42,000.00.
Using the GMAC Smart lease this is the info he gave me:
48 months, 12K per month, $5000 down payment and nothing else due at signing.
Monthly payment: $464.07 including 7.0% tax for my county in Florida.
He said at the end of the lease I could do the same as the GMAC Smart Buy and purchase with a final ballon payment of $27,109.50
I donít know the residual or the interest rate?
Also the dealer told me that if I do decide to keep it at the end of the lease and finance the remaining that I donít have to pay Tax, Title or Tags, so is it all included in this lease already? All I have to pay is sales tax again.
I know you say never make a down payment, but this keeps my payments low and even with out the down payment. I would have to finance more on the ballon on the end, so it kind of works out I just pay about $1,100 more in interest buy going with the lower payment.
So is this a good deal????
#49 of 312 Re: Car_man help, is this a good deal or not?? [garrison93]
Aug 15, 2006 (3:59 am)
Hi garrison93. Let me begin by saying that $5,000 is way too much money to put down when leasing. Consumers can and should lease any vehicle that they are interested in without making any sort of capitalized cost reduction. I always discourage community members from making large down payments on leased vehicles because if their vehicles are totaled in an accident or stolen and never recovered their down payments essentially disappear.
Now let's take a look at the selling price that you were quoted for this truck. The truck that you described probably has a spread of a little over $5,000 between its full MSRP and dealer invoice prices. In addition to this spread, GM is providing $2,000 bonus cash on '07 Tahoes right now. This gives us a little over $7,000 to play with. You were quoted a discount of $7,270 on the truck that you are interested in. This price looks very good to me. Using the prices that you mentioned in your post, an MSRP of $49,270 and a selling price of $42,000, I estimate that this truck;s 48 month, 12,000 mile per year, zero down, pre-tax monthly payment should be around $492. A $5,000 capitalized cost reduction would drop this payment to around $375, but again you would be better off not putting so much money down. I used a lease rate of 6.3% and a residual value of 55% to calculate the above payment.
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#50 of 312 2007 Suburban Lease
Aug 16, 2006 (4:46 am)
Dear Car Man-
I am entering into a lease of a 2007 Suburban LT3 with the options of second row captain chairs, third row bench seat, power liftgate and 20 inch chrome wheels. MRSP is $44,790 and purchase price is $38,800. Local tax rate 8%. The price reflects all dealer and customer incentives. Mileage is 20,000 per year and lease rate is 6.3%. No money down. My GMAC lease payment is going to be about $659 per month. Is this a good deal? What is the current GMAC residual for such a vehicle? What other expenses should I rightfully expect to pay at signing? Thanks, Ron
#51 of 312 Re: 2007 Suburban Lease [roncoemd]
Aug 23, 2006 (1:35 am)
Greetings roncoemd. The truck that you described has a spread of around $4,000 between its full MSRP and dealer invoice price. Furthermore, General Motors is currently providing $2,000 bonus cash on it. You are being given a discount of nearly $6,000 on this truck. I suspect that this is pretty close to dealer invoice, which is a very good deal. I believe that GMAC's base lease rate for this truck is 6.3% as well. Using the prices that you mentioned in your post, an MSRP of $44,790 and a selling price of $38,800, I estimate that this truck's 36 month, 15,000 mile per year zero down, pre-tax monthly payment should be around $505. 15,000 miles per year is the highest mileage allowance that GMAC publishes residual values for. This truck's 36 month, 15k residual is 60%. If you need to drive more miles than this, you would have to purchase them on a per-mile basis. With this deal, at lease signing you would have to pay your first month's payment, a security deposit equivalent to your truck's payment rounded up to the nearest $25 or $50 increment, GMAC's $595 acquisition fee, and any required state taxes or fees.
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#52 of 312 Tahoe Smart Buy... good deal??
Aug 25, 2006 (8:53 am)
This is what I got on my final negotiation for a 2007 Tahoe:
This is the GMAC Smart Buy...
A good deal???...
Sale Price: 39,536
Cash Down: 2,500 (T/T/L is $2556... see the FYI below)
Adj Cap Cost: 34,036
Balloon (residual) 22,410.52 (53%)
Monthly Payment: 524.49
(A regular lease had a lower rate, but a residual of only 40%)
FYI: In the state of Texas, Sales Tax for an auto lease is paid on the full sale price of the vehicle, not the lease payments. (Plus, you pay interest on the sales tax if it is rolled into the lease payments.) Additionally, if you decide to purchase the vehicle at the end of the lease term, you must pay sales tax AGAIN on the remaining balance (a second sale). Double-Taxed! Yes, this is the law in Texas. (I think Illinois is similar). So, in Texas, if you have any possible plans to keep your car, don't lease it!
#53 of 312 Re: Tahoe lease residuals changed?
Sep 06, 2006 (4:25 pm)
Can anyone tell me if the lease residuals have changed effective today? I have been negotiating a very good deal with two local dealers on a LT3 loaded, getting $7,300 off MSRP with rebate. I noticed the GMAC lease calculators show the payment much higher today than yesterday, has something changed?
#54 of 312 Car_man...little help
Sep 16, 2006 (8:01 pm)
Please tell me what you think of this deal.
2007 Chevy Tahoe LTZ
Nav,Entrtnmt sys, etc...
Sale Price $49,300
This Cincinnati Ohio dealership will lease me this truck for $679 a month (tax included) for 39 months with $0 down at 10,000 miles per year.
They will also do a 39 month lease with $0 down at 12,000 miles per year for $709 a month.
This seems a little high.
#55 of 312 Re: Tahoe lease residuals changed? [scooter650]
Sep 19, 2006 (2:04 am)
Hi scooter650. I don't believe that GM's lease program for the Tahoe changed much for the month of September. Are you interested in a 2006 or a 2007 model? General Motors is no longer providing lease support on the 2006 Tahoe. You never mentioned how long you want to lease for or what sort of mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. GMAC's current base lease rate and residual value for a 36 month lease of a 2007 Chevrolet Tahoe with 15,000 miles per year are 6.3% and 60%, respectively. Let me know if you need any other info.
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