Last post on Nov 28, 2013 at 6:39 AM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Buick Enclave, Car Leasing, Car Buying, SUV
#254 of 541 Re: lease in NJ (south FL registration though) [jbiz]
Aug 13, 2010 (10:25 pm)
I ran your numbers through my expert lease software and I get the below results. Basically, using the values you have stated, expert lease calculated a monthly payment of $638with inception costs (1st month, security, DMV fees, doc fees, etc.) at around $1,715.
Total MSRP: $48,040 (47,245 + destination charge)
Total Purchase price: $43,832 (purchase price + destination charge)
term: 39 months (12K miles per year)
Money factor: .00045
effective APR: 1.09%
Total rent charge: $1,155
I spoke to someone in internet sales today and had them email me a quote for a similar CXL. It was the first time I called about the car so I'm sure I got their "sucker" numbers. Below is the information from my quote, which I'm sure is probably absolute garbage.
2011 Buick Enclave CXL
36 months (12K miles per year) = $699 per month inc. tax
purchase price 43,990
money factor .00020
acquisition fee 795
drive off cost 2500
(Calling all experts) Can someone please help me work out the real cost of a lease for a 2011 Buick Enclave CXL. The MSRP with options of the car I want is $45,645. Edmunds has the invoice price at $42,964.70. Looking for a 36 month (12K miles per year) lease with no cap reduction (no money down). Can I assume that the residual is around 36%-38%. No clue what the real money factor is. What is my monthly payment and inception (drive off) costs?
#255 of 541 Re: Deposit or SmartLease [Car_man]
Aug 15, 2010 (10:14 am)
You're the best there is.
Can you please help me work out the real cost of a lease for a 2011 Buick Enclave CXL. The MSRP with options of the car I want is $45,645. Edmunds has the invoice price at $42,964.70. Looking for a 36 month (12K miles per year) lease with no cap reduction (no money down). Can I assume that the residual is around 36%-38%. No clue what the real money factor is. What is my monthly payment and inception (drive off) costs in CA?
#256 of 541 Re: Deposit or SmartLease [zethus25]
Sep 01, 2010 (1:36 am)
Thanks James .
Through September 7th, GMAC's base lease rate and residual value for a 36 month lease of a 2011 Buick Enclave CXL AWD with 12,000 miles per year are 2.9% and 48%, respectively.
As you can see, the residual value is significantly better than what you were expecting...which is always a pleasant surprise.
General Motors is currently providing a $2,200 cash incentive on leases of this vehicle through GMAC. Let's assume that you are able to lease one at $1,000 over invoice minus this cash.
According to my calculations, using the above numbers, an MSRP of $45,645, and a selling price of 41,765, this vehicle's zero down, pre-tax monthly payment would be around $629.
Prices Paid: Buying & Leasing Experiences Forum
#257 of 541 Re: lease administrative fee question
Sep 06, 2010 (3:56 am)
Hello to all,
I have a 2008 Buick Enclave (loaded) that I got in June 2007 (just a month or two after they first came out). My 39-mo lease is ending this month, so I starrted looking around for my next vehicle. I test drive a lot of competitive vehicles, and I am now back to an Enclave or an Acadia - I really just like the layouts, features, etc.
I have two offers from two local dealers for the exact same Enclave that they both "located" for me at another dealer. Both offers are good prices, and both exactly match CarMan's figures of 48% residual, $2200 rebate, and 2.9% rate.
But both offers include a $$795 administrative fee (for GMAC, or Ally, or something), Looking back, I paid a $595 GMAC lease administrative fee in 2007. I was feeling stupid that I should have negotiated that to $0 last time, so this time, I wanted to get rid of this fee. To my surpirse, both dealerships held firm that this fee was fixed, and they "could not even change it on their screen". I figured they were lying, but I was surpirsed by nboth giving me the same story, and both holding firm.
Does anyone know is this GMAC/Ally lease administrative fee can me eliminated? or reduced?
#258 of 541 Re: lease administrative fee question [lwolf99]
by kyfdx@Edmunds HOST
Sep 06, 2010 (4:10 am)
The fee goes to the leasing bank... The dealers don't have any authority to waive the fee.
Some banks allow the dealer to mark up the fee for extra profit. (BMWFS for example). I'm not sure what the base fee for Ally is now, but they have mostly been on the rise for the last couple of years. It's possible both dealers are marking up the fee for extra profit, but doubtful.
If you want a lower price, you'll have to negotiate more off the price of the vehicle... Since you have two dealers offering you the same deal, maybe you can play them off one another?
#259 of 541 Re: lease administrative fee question [kyfdx]
Sep 08, 2010 (7:49 am)
I just too another look at the lease worksheets, I noticed that both dealers have also included a $775 "security deposit". Can;t beleive I missed that.
When I questioned them, they said GM has only 4 vehicles that they will wave the deposit on. They are the Chevy Malibu,Cruz,Silverado,and GMC Serria. They will not wave any other security deposits.
I said I was a loyal GMAC lease customer, setup on autopayment, and I would want the security deposit waived. They both said GMAC woudl not waive the security deposit.
Does anyone have any different experience with this recently? Is there anyway to get GMAC to waive the security deposit for a 2011 Enclave, for a customer who is an existign lease holder, with good paymet history?
Thanks in advance.
#260 of 541 Re: lease administrative fee question [lwolf99]
Sep 08, 2010 (9:18 am)
Your request is very reasonable. Unless GMAC's lease rate is outstanding, I would look for another fund provider such as Ally Bank or, possibly, US Bank. Remember, you're not obligated to use GMAC.
#261 of 541 Re: lease administrative fee question [delta737h]
by kyfdx@Edmunds HOST
Sep 08, 2010 (6:52 pm)
I'm pretty sure that GMAC and Ally are the same institution..
#262 of 541 Re: lease administrative fee question [kyfdx]
Sep 09, 2010 (2:55 am)
Yes, Ally and GMAC are the same. My local dealer is swaping another dealer for the vehicle that I want. We shook hands last night on the deal, so he is going to initiate the swap today.
I asked about getting Ally/GMAC to waive the security deposit. He "said" he has asked multiple times over the last several months, and they always told him know. Of course, I have no way to verify that.
I was going to call Ally this morning, and see if I could talk with someone directly there. Who knows, I might get lucky.
My deal includes a $2500 lease rebate, 48% residual and 2.9% rate - which is a pretty good deal IMHO. So I could go with someone else, but I would loose the $2500 lease rebate.
The manager did say they offer an option for no security deposit, by the lease rate then becomes 3.4% instead of 2.9%.
#263 of 541 Re: lease administrative fee question [lwolf99]
by kyfdx@Edmunds HOST
Sep 09, 2010 (3:32 am)
GM doesn't own GMAC, any more.... that's changed a lot of things from that end..
On the plus side, the security deposit is refundable, and I've yet to see any difference at the end of a lease, regardless of the security deposit amount, or whether there is one... The end charges are what they are..
If the deal is better with GMAC, and it probably is, or they would have used someone else, and you have no other options, make the security deposit, rather than take the higher rate.. you'll be dollars ahead in the long run.