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Buick Enclave, Car Leasing, Car Buying, SUV
#257 of 477 Re: lease administrative fee question
Sep 06, 2010 (4:56 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 477 Re: lease administrative fee question [lwolf99]
by kyfdx HOST
Sep 06, 2010 (5:10 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 477 Re: lease administrative fee question [kyfdx]
Sep 08, 2010 (8:49 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 477 Re: lease administrative fee question [lwolf99]
Sep 08, 2010 (10:18 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 477 Re: lease administrative fee question [delta737h]
by kyfdx HOST
Sep 08, 2010 (7:52 pm)
I'm pretty sure that GMAC and Ally are the same institution..
#262 of 477 Re: lease administrative fee question [kyfdx]
Sep 09, 2010 (3:55 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 477 Re: lease administrative fee question [lwolf99]
by kyfdx HOST
Sep 09, 2010 (4:32 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.
#264 of 477 Low Mileage Lease on CXL1
Sep 20, 2010 (3:35 pm)
Hi. I am looking at leasing an Enclave through the current promotion:
2011 Buick Enclave FWD CX
Payments are for a 2011 Buick Enclave FWD CX with an MSRP of $36390. 39 monthly payments total $15555.
I want to upgrade this promotion to the CXL 1 with Navigation and DVD entertainment package which brings the MSRP to $42150 when I build it using the promotion on the website (which factors in the discount using the promo). What should the monthly payments work out to?
#265 of 477 2011 Enclave CXL-1 Lease
Sep 26, 2010 (5:29 pm)
It is new car time again and I am so appreciative for this forum to help me not get ripped off. I am looking into a 2011 Enclave CXL-1 lease. Sticker price is 39,635 including the destination charge. I was offered a lease deal of $2000 total out of pocket, $499 per month plus florida sales tax for 39 months, 15,000 miles per year. Is this a good deal? Does anyone know the money factor and the residual that I should be paying? Thanks in advance for any assistance you can provide.
#266 of 477 Re: Deposit or SmartLease [Car_man]
Oct 02, 2010 (2:15 pm)
Do you know what GMAC's October base rates are?
Tomorrow I'm going with my father to lease a 2011 Buick Enclave FWD CXL-2. He turning his 2007 GMC Yukon Denali in since he has one month left on his 39 month lease. I think the MSRP is $44,955. This will be a 36 or 39 month lease for 15k miles.
I really appreciate the information. I wish I knew about this site when I went with my mom to lease her Audi in June. I think she got a really bad deal.