- #21 of 94
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Lease question
by dgruenberg
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Aug 15, 2006 (5:51 pm)
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Hi, Car man. I just came home from the GMC dealer with the following numbers to lease a 2006 Envoy XL(pretty loaded):
MSRP: 36,380
Supplier price (husband works for IBM): 34,293
Incentives/lease offers: 3250
Down pm't: 2600
(We agreed to pay taxes: 1657.15 and bank fee 695 up front)
He told me the residual on 36 mo/12K was 60%
The interest is 4.9%
Now, when I input these numbers into my lease calculator, I get a monthly payment of about 286. He's telling me the monthly payments are 353. Why am I so off? Can you calculate for me?
Thank you!
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- #22 of 94
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Re: 2006 GMC Envoy Question [oakridge067]
by cbrun13
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Aug 16, 2006 (12:04 pm)
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Replying to: oakridge067 (Aug 11, 2006 7:15 am)
Lease
2006 Envoy Denaly 4x4
15K, GPS, Fully loaded, with side curtain bags, sunroof. No rear DVD.
471/month. With no money dn other than the deposit and 1st month. At 4.9% GMAC
Is this a good deal. I get GM discount.
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- #23 of 94
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Re: Lease Question [onetime]
by cbrun13
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Aug 17, 2006 (10:20 am)
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Replying to: onetime (Jun 16, 2006 6:25 pm)
What kind of short lease did you work out??? Already turning in a one year old car??..Its an ok deal. Considering you plunged close to 1000 dls down...I'm not counting your first month payment and about 100 or so for the tax title.
I'm payng 471/ with 0 down and have Everything. including Navigation, Sun sound, Extra(side airbags) 15k etc. But I have a GMC employee price.
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- #24 of 94
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2006 GMC Envoy
by ianbal
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Aug 23, 2006 (9:41 am)
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Carman,
Can you please let me know the current GMAC interest rate & residual for a 39 month 15k mile/yr lease? The dealer is quoting 5.9% interest & 56 residual which seem high to me. Is GMAC still 4.9% as per prior posts? Credit is "sparkling" according to dealer.
Other details:
List 32315
Down 3200
Thanks
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- #25 of 94
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Re: Lease Question [onetime]
by Car_man HOST
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Aug 24, 2006 (2:27 am)
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Replying to: onetime (Aug 02, 2006 8:13 pm)
You're very welcome, onetime. In your original post you said that the truck you are interested in has a "42,797,00 sticker" price. This is the only price that you mentioned and I assumed that you mean that this is its full MSRP. Is that correct? In order to assess how good a deal you are getting you need to know both your vehicle's full MSRP and its selling price. Let me know what both are and I'll tell you what I think.
Car_man
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- #26 of 94
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Re: 2006 GMC Envoy Question [oakridge067]
by Car_man HOST
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Aug 24, 2006 (2:31 am)
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Replying to: oakridge067 (Aug 11, 2006 7:15 am)
Greetings oakridge067. This truck's lease payment will depend upon how long you lease it for and how many miles per year you need to be able to drive it. 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. According to my calculations, if you were to lease a 2006 GMC Envoy SLE with an MSRP of $31,185 and a selling price of $29,493.57 through GMAC right now for 36 months with 15,000 miles per year, its zero down, pre-tax monthly payment should be around $422.
Car_man
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- #27 of 94
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Re: Lease question [dgruenberg]
by Car_man HOST
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Aug 24, 2006 (2:43 am)
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Replying to: dgruenberg (Aug 15, 2006 5:51 pm)
Hi dgruenberg. The selling price and lease rate that you were quoted for this truck look good to me. This is a good thing because these are the two main profit centers for dealers on leased vehicles. Let's work up a lease payment on this truck and see what we come up with. According to my calculations, the payment for 36 month lease of a truck with an MSRP of $36,380, a capitalized cost of $31,043 ($34,293 supplier price - $3,250 in cash incentives), a lease rate of 4.9%, and a residual value of 60% should be around $364. As you can see, this is pretty close to the payment that you were quoted. Where did you get the lease calculator that you are using?
Car_man
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- #28 of 94
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Re: 2006 GMC Envoy Question [cbrun13]
by Car_man HOST
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Aug 24, 2006 (2:46 am)
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Replying to: cbrun13 (Aug 16, 2006 12:04 pm)
Hi cbrun13. If by the "GM discount" you mean that you are able to purchase the Envoy that you are interested in through GMAC's supplier or employee purchase programs than you are getting a good deal. Furthermore, the 4.9% lease rate that you were quoted is in line with GMAC's current program for this truck. These two things lead me to believe that you are getting a good deal on this tuck, but I cannot do any calculations to give you a more detailed analysis without knowing this truck's full MSRP and selling price.
Car_man
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- #29 of 94
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Re: 2006 GMC Envoy [ianbal]
by Car_man HOST
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Aug 24, 2006 (2:48 am)
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Replying to: ianbal (Aug 23, 2006 9:41 am)
Hello ianbal. Here's the info that you are looking for. GMAC's current 39 month, 15,000 mile per year base lease rate and residual value for a lease of a 2006 GMC Envoy are 4.9% and 56%, respectively. Make sure that the dealer you are working with uses the 4.9% rate to calculate your truck's lease payment.
Car_man
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- #30 of 94
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Re: 2006 GMC Envoy [Car_man]
by ianbal
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Aug 24, 2006 (4:09 am)
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Replying to: Car_man (Aug 24, 2006 2:48 am)
Car_man,
Thanks for the info.
Ian
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