- #126 of 169
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Re: Any Update to Info you Provided in February? [franco16]
by go8
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Mar 27, 2008 (2:42 pm)
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Replying to: franco16 (Mar 27, 2008 7:19 am)
Generally in the past the GM cash incentive cannot be applied on a lease deal.
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- #127 of 169
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Re: Any Update to Info you Provided in February? [go8]
by franco16
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Mar 28, 2008 (4:33 am)
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Replying to: go8 (Mar 27, 2008 2:42 pm)
I'm finding out the lease deals are not very enticing right now. The numbers have gone up from 650 to 832/mo. I'm sure I can probably get them down a bit but not much. I have some time before my current lease is up. I'm hoping that the numbers change for next month. sorry to be such a downer, but I've been on this lease for months now.
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- #128 of 169
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leasing comany
by steveeb1
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Apr 08, 2008 (2:26 pm)
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Hello,
I am currently looking for a new car and the best lease prices. i was wondering if anyone knows about these lease brokers and if they are legit. They seem to have become very popular and i was just wondering if anyone has any experience with one. they claim to have the lowest prices.
thanks
steve
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- #129 of 169
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What Lease Brokers?
by franco16
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Apr 09, 2008 (7:08 am)
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Hey Steveeb1,
What lease brokers are you speaking of. Can you give me some names so I can check them out?
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- #130 of 169
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Re: Yukon Lease Questions [xogrady]
by Car_man HOST
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Apr 11, 2008 (2:15 am)
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Replying to: xogrady (Feb 22, 2008 7:46 am)
Here's the info that you're looking for, xogrady. GMAC's current base lease rate and residual value for a 36 month lease of a 2008 GMC Yukon with 10,000 miles per year are 7.2% and 65%, respectively. General Motors is currently providing a $1,000 cash incentive on leases of this truck to current owners and lessees of GM vehicles. If you are eligible for it, make sure to take this cash into account when negotiating your truck's selling price.
Car_man
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- #131 of 169
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Re: 08 Yukon Denali [aonic]
by Car_man HOST
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Apr 11, 2008 (2:25 am)
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Replying to: aonic (Feb 25, 2008 11:11 am)
Hi aonic. I see that you are considering making a $3,000 down payment on the truck that you want to lease. I always advise community members against making large down payments on leases. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be higher, you would be better off going with a zero down lease.
GMAC's current base lease rate for the 2008 GMC Yukon Denali is 7.2%. You may be required to make a security deposit on your lease to get this rate though. Make sure that the dealer uses the 7.2% rate instead of the 8.2% rate that you were quoted. Seven percent interest is bad enough compared to the average interest rate on car loans today, there's no need to pay an even higher rate than that.
In your post you mentioned this truck's dealer invoice price. What was its selling price? The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Try to negotiate a selling price that is as close to invoice as possible. If you are in an area that has a decent level of competition, you shouldn't have much trouble finding a dealer that is willing to lease you this truck for less than $1,000 over invoice, given the slow market that we are in right now and the high price of gas.
Car_man
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- #132 of 169
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Re: Did the 7.2% Rate go UP? [utbandit]
by Car_man HOST
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Apr 11, 2008 (2:29 am)
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Replying to: utbandit (Mar 02, 2008 7:21 pm)
Hey utbandit. You definitely need to fight for the 7.2% lease rate. Nine percent interest is nuts, given the current level of interest rates. The dealer is likely trying to make additional back-end money on your deal by marking your rate up. You can always shop around if this dealer isn't willing to work with you.
Car_man
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- #133 of 169
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Re: Any Update to Info you Provided in February? [penn2]
by Car_man HOST
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Apr 11, 2008 (2:32 am)
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Replying to: penn2 (Mar 26, 2008 8:07 am)
Hey penn2. GMAC's current base lease rate and residual value for a 36 month lease of a 2008 GMC Yukon Denali with 12,000 miles per year are 7.2% and 63%, respectively. If you are a current owner or lessee of a GM product, make sure to take the new $1,000 loyalty.cash incentive that is available on leases of this truck into account when negotiating your deal.
Car_man
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- #134 of 169
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Re: Any Update to Info you Provided in February? [franco16]
by Car_man HOST
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Apr 11, 2008 (2:34 am)
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Replying to: franco16 (Mar 28, 2008 4:33 am)
You're right, franco16. General Motors' lease program on the GMC Yukon is not very good. If I was in the market for one, I personally would take advantage of the special financing offers that are available on it instead of the lease program. In March, GM was offering 0% financing for up to 5 years on this truck and in April is has 2.9% for up to 6 years.
Car_man
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- #135 of 169
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Re: leasing comany [steveeb1]
by Car_man HOST
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Apr 11, 2008 (2:41 am)
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Replying to: steveeb1 (Apr 08, 2008 2:26 pm)
Hello Steve. In my experience, brokers like the one that you mentioned really don't bring anything to the table that a savvy consumer who some some comparison shopping could do on their own, other than another party that has to profit from your deal. There's nothing wrong with using a broker if you don't have the time to shop around on your own or if you are inclined to pay someone to shop for you, but using one is unlikely to get you a better deal than you could get on your own.
Car_man
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