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Chevrolet Equinox: Lease Questions

214 messages,  Last post on May 08, 2013 at 4:20 PM

You are in the Chevrolet Equinox Forum.

What is this discussion about? Chevrolet Equinox, Car Leasing, SUV

    

Messages Page 16 of 23

#142 of 214 Re: Remembered why I dislike car shopping.... [CapeCod] by kyfdx HOST

Jul 13, 2011 (8:12 pm)

Replying to: CapeCod (Jul 13, 2011 8:11 pm)
but rather Ally adds a $2500 fee on top of the residual because ALLY does not want purchases by those leasing vehicles. Any truth here as I had planned on purchasing at term's end?
 
It's strange... but, true..

#143 of 214 Re: Lease Rates [Car_man] by rapman1

Jul 25, 2011 (10:45 am)

Replying to: Car_man (May 19, 2011 4:39 pm)
I need a smart answer here! I have a Home line of credit, charging a variable interest rate at 3%. I am thinking of selling my current car ($27,000), putting that money back to pay down the line of credit, and then leasing an Equinox at 1.8%. THat seems like the smart thing to do, but am I missing something here? My main goal is to get that LOC down, even if I have a monthly payment. Thoughts?

#144 of 214 Re: Lease Rates [rapman1] by kyfdx HOST

Jul 25, 2011 (5:56 pm)

Replying to: rapman1 (Jul 25, 2011 10:45 am)
1.2% of $27K is only $325 per year in savings...
Transaction costs will eat that up... Just the acquisition fee will be more than your first 18 months of savings..
 
Selling your car for wholesale... leasing a new car at retail... then, in three years, more transaction costs when the lease is up...
 
Amortize your current vehicle over 60 months, and don't give in to skipping principle payments, and that HELOC balance will drop in a hurry..

#145 of 214 Re: Lease Rates [kyfdx] by Car_man HOST

Aug 01, 2011 (5:04 pm)

Replying to: kyfdx (Jul 25, 2011 5:56 pm)
Keep in mind too that the interest on the HELOC is likely deductible, while the interest on a car loan or lease would not be. That should eat into some of the difference as well. You'd be better off taking the money that you're saving from not having a car payment and using that to pay down your HELOC a month at a time. That's what I would do anyhow.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#147 of 214 2012 Equinox Lease Offer Decent? by dango

Dec 13, 2011 (10:16 am)

Does this sound like a fair 39 mo. lease deal?(many moving parts) Numbers straight from ACAR/GM Fin Lease Agreement:
   2012 Equinox 1LT w/ Driv Conv Pkg, Protect pkg, Cross rails
   MSRP $26785
    
Only $352 1st mo pmt due at signing. Rolling Acq fee into Mo Pmt at 1.1%int
   Base Cap Cost 25744 (Negot price)
   Taxes 6.25% 808 (pd for GM Fin by me?Is that how they do it?)
   Acquis Fee 650
     Gross Cap Cost 27202
   Residual 14196 (53% based on MSRP)
   Money Factor .00046 (1.1% int rate)
 
   Total Rent Charge 742 ($19/mo)
   Total Depreciation 13006 (334/mo)(tax incl in here)
   Total Mo. Pmts 13748 ***$352.52/Month*** for 38 more mos.
    
No addl Doc fee or Sec Dep charged. $350 due at Disposition.
These actual numbers should help those looking at 2012 Equin 1LT leasing.
Any issues observ or questions (dealer tricks) I'm overlooking?

#149 of 214 Chevy Equinox 2012 Actual Lease Numbers by dango

Dec 14, 2011 (9:12 am)

Does this sound like a fair 39 mo. lease deal?(many moving parts) Numbers straight from ACAR/GM Fin Lease Agreement:
   2012 Equinox 1LT w/ Driv Conv Pkg, Protect pkg, Cross rails
   MSRP $26785
     
Only $352 1st mo pmt due at signing. Rolling Acq fee into Mo Pmt at 1.1%int
   Base Cap Cost 25744 (Negot price)
   Taxes 6.25% 808 (pd for GM Fin by me?Is that how they do it?)
   Acquis Fee 650
     Gross Cap Cost 27202
   Residual 14196 (53% based on MSRP)
   Money Factor .00046 (1.1% int rate)
  
   Total Rent Charge 742 ($19/mo)
   Total Depreciation 13006 (334/mo)(tax incl in here)
   Total Mo. Pmts 13748 ***$352.52/Month*** for 38 more mos.
     
No addl Doc fee or Sec Dep charged. $350 due at Disposition.
These actual numbers should help those looking at 2012 Equin 1LT leasing.
Any issues observ or questions (dealer tricks) I'm overlooking?

#150 of 214 Re: Chevy Equinox 2012 Actual Lease Numbers [dango] by dango

Dec 14, 2011 (9:15 am)

Replying to: dango (Dec 14, 2011 9:12 am)
Wondering how much profit dealer booked on the above deal

#151 of 214 Re: 2012 Equinox Lease Offer Decent? [dango] by Car_man HOST

Dec 14, 2011 (5:11 pm)

Replying to: dango (Dec 13, 2011 10:16 am)
Hi dango. This deal appears to be around $500 to $600 or so over dealer invoice and the lease rate looks good. I'd say that this is a decent deal.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

Messages Page 16 of 23

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