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Pontiac G6, Car Leasing, Car Buying, Convertible, Sedan
#84 of 173 Re: Pontiac G6: Lease Questions [Car_man]
Apr 20, 2006 (9:33 am)
Just finished discussing a "smart buy" purchase on a 2006 G6 4CYL WITH 7MILES FOR with $4200 in rebates. I informed the sales rep I wanted to buy it out right. She said I can put any amount down, lease it for 3 months and call them after 3 months to change it to a full buy. What is the cost to me?? This sounds too good to be true. I have never leased before and I don't want to end up paying more than what I am being quoted.
#85 of 173 Re: Pontiac G6: Lease Questions [blueeyes5]
Apr 20, 2006 (9:55 am)
I am in the same boat except my deal was on a Cobalt, with $1800 smartbuy rebate. I was told I could pay it off,(1 month minium) with no penalty.Would cost about $50 in interest but still a good deal if it is possible. What makes me nervous is interest on $12,637 finance amount is $3,674 if I go the full 48 months (I.E. if it can't be paid off) Thats the reason I posted originally was to see if anyone knew the answer or had done it. Still haven't gotten a straight answer from anyone who knows.
#86 of 173 Re: Pontiac G6: Lease Questions [Car_man]
Apr 21, 2006 (7:32 pm)
Is there a way to find the best possible G6 lease (deal) in a particular city - such as in the Minneapolis area? I'm not very good at understanding the percentages discussed in the previous thread. I will lease at whatever length is necessary to get a good deal. Thanks.
#87 of 173 Re: Pontiac G6: Lease Questions [wayzatapop]
by Car_man HOST
May 01, 2006 (5:08 pm)
Hi wayzatapop. Negotiating a good lease is not nearly as difficult as it sounds. All you have to do is negotiate the lowest possible selling price that you can on the car that you want and then make sure that the dealer you are working with uses GM's base lease program to calculate your lease payment. Given the current market for this car, if you are in an area where there is a decent level of competition for your business I don't think that you will have much trouble leasing this car for close to dealer invoice. You can find the invoice price of this car by looking it up in the following section of this site: Edmunds.com New Vehicle Pricing. Once you know how much you want to pay, just make sure that the dealer you are working with uses GMAC's current base lease rate of 5.0% for 2006 Pontiac G6 4-cylinder models and 3.7% for G6 6-cylinder models to calculate your car's lease payment. If you would like, stop back in this discussion before you finalize your deal and I will be happy to estimate what your lease payment should be for you.
Smart Shopper / Prices Paid Forums
#88 of 173 Re: Pontiac G6: Lease Questions [Car_man]
Jun 13, 2006 (9:18 am)
Would just like to know what to watch for when leasing.interest rate and do you also know what the residual is after 3 yr leasing on G6 Convertible GT
#89 of 173 Re: Pontiac G6: Lease Questions [curiousf]
Jun 14, 2006 (6:49 am)
The 15k residual for 36 months is 53. It does go up for 12k miles. If you extend the term to 39 months, it does drop by a point. The current rate is about 5% on the lease, so watch out and ask the salesman what the rate is when buying.
#90 of 173 Re: Pontiac G6: Lease Questions [curiousf]
by Car_man HOST
Jun 22, 2006 (4:54 am)
Hello curiousf. I can give you an idea of what this car's current lease program is like. If you were to lease a 2006 Pontiac G6 Convertible through GMAC right now for 36 months with 15,000 miles per year, its base lease rate and residual value should be 4.95% and 53%, respectively.
Prices Paid Forums
#91 of 173 Ultra Low Mileage Lease
Aug 01, 2006 (5:21 pm)
This is my first lease and I'd like to know if its possible to get a bad deal on a lease I guess. I have a 39 month lease with 10k miles per year. I think I was told the lease rate was 6.5% and not negotiable. I have a 2006 G6 GTP convertible. The MSRP was 32,090 but I got supplier price of 30,590 plus the Titanium protection to get to 30,978. There's a $595 GMAC administrative fee (is that standard?). Also my residual seems high maybe? It's $18,576.30. Finally my payments are $491 which seem high from what I'm reading but I didn't put any money down or have a trade in. I only made the first months payment plus license/title. Thoughts? Thanks!
#92 of 173 Re: Ultra Low Mileage Lease [joniv]
by Car_man HOST
Aug 06, 2006 (5:13 am)
Hi joniv. It is definitely possible to get a bad deal on a lease. This does not necessarily mean that you did. If you were able to get your Pontiac G6 Convertible through GM's Supplier Purchase Program, you actually probably got a very good deal on it...at least on its selling price. GMAC's base lease rate on the 2006 G6 Convertible is 4.95%. Make sure that the dealer that you are working with uses this lease rate instead of the 6.5% rate that they quoted you to calculate your car's lease payment and you're all set. GMAC charges an acquisition fee of $595 on every vehicle that it leases and individual dealers do not have the authority to waive this charge. Dealers cannot alter vehicles' residuals either. If your car's residual value is high this is actually a good thing. Sure its lease-end purchase price is higher, but you will have to pay for less depreciation over the life of your lease and your lease payment will be lower.
I will use GMAC's actual lease program to calculate a lease program on this car so that you can compare what I come up with with what the dealer quoted you. According to my calculations, if you were to lease a 2006 Pontiac G6 Convertible with an MSRP of $32,090 and a selling price of $30,978 through GMAC right now for 39 months with 10,000 miles per year, its zero down, pre-tax monthly payment should be around $427. As you can see, the lease payment that you were quoted looks slightly high to me, even if it includes sales tax. Part of the difference is probably the higher lease rate that the dealer you are working with is trying to use.
Prices Paid Forum
#93 of 173 Thanks!
Aug 07, 2006 (1:06 pm)
Thank you! Couple more questions...how do I find out what GMAC's base lease rate is so I can show them and does it make a difference between the GT or the GTP trim? Also, since I already signed the paperwork do I have any options to get the 4.95%?