- #73 of 122
-
Poor GM Lease Support
by dammitjim1
-
Feb 12, 2008 (4:00 pm)
-
|
|
I am going to be in the market for a new vehicle in the next few months, as the Tahoe Z71 I have under a GM Smartbuy is going to be ending. From what I have read in this and the Acadia forums, lease prices are pretty outrageous. Although I love the Z71 Tahoe, with gas well over $3/gallon I am unlikely to be getting another Tahoe. Does anybody out there think that the lease support situation will improve? If not, it looks like the Mazda CX-9 is next for me.
|
- #74 of 122
-
Re: GM lease rates [octagon3]
by Car_man HOST
-
Feb 15, 2008 (3:36 am)
-
|
|
Replying to: octagon3 (Jan 20, 2008 9:47 am)
Good question, octagon3. I have seen a number of people asking this lately. General Motors really has not reduced its special lease rates any since the Federal Reserve began its rate cutting campaign several months ago. The cuts seem to have had an impact upon banks' standard interest rates, just not on any of the special rates yet. It is difficult to say whether GM will eventually lower its lease rates as a result of these cuts. Unfortunately, I think that there is a very good chance that they won't. The environment for light vehicle sales is so bad in the U.S. right now that a number of manufacturers have decided to cut production rather than just piling on more and more incentives.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
|
- #75 of 122
-
Re: Poor GM Lease Support [dammitjim1]
by Car_man HOST
-
Feb 15, 2008 (3:39 am)
-
|
|
Replying to: dammitjim1 (Feb 12, 2008 4:00 pm)
What you've heard is absolutely correct, dammitjim1. GM's lease program for the Buick Enclave is terrible right now. GMAC's current "special" (that is definitely using the phrase very loosely) lease rate for it is 8%. It is difficult to say whether GM will enhance this model's lease program down the road. The current lease program is scheduled to run through March 3rd. If I had to make an educated guess, I would say that GM will probably not enhance its lease offer on the Enclave much when its next program is announced. For whatever reason, its lease program on the Enclave has been consistently bad for some time now. Of course, I have to attach my usual disclaimer to this that it is impossible to predict what automakers will do with their future incentives with 100% accuracy  .
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
|
- #76 of 122
-
Re: Poor GM Lease Support [Car_man]
by dammitjim1
-
Feb 20, 2008 (9:14 am)
-
|
|
Replying to: Car_man (Feb 15, 2008 3:39 am)
Thanks for your input, Car_man. I guess as long as there are people willing to pony up and pay the terrible lease rates, there will be little incentive for GM to provide better support on lease of these vehicles. One would think, however, that GM would have a greater awareness of the competition out there. By comparison, fantastic deals can be had on the CX-9 in NYC/LI with very little effort.
|
- #77 of 122
-
Re: Poor GM Lease Support [Car_man]
by chasotto
-
Feb 26, 2008 (5:29 am)
-
|
|
Replying to: Car_man (Feb 15, 2008 3:39 am)
Car_man - new to this forum but just reading the exisitng posts it has already been helpful. Here is my question. I currently have a 48 month smart buy on a Cadillac SRX due March 15th. We are interested in leasing an Enclave but the rates are outrageous. We were given a rough quote of about 750 a month. I am planning on extending my SRX smart buy from GMAC on a month to month basis. Can I do this? I did it once before on a lease from GMAC when I was waiting for delivery on a car. Any advice? What is the best source to get info on GMAC lease rates that will be announced March 3rd?
|
- #78 of 122
-
Wake Up GM
by bondguy1
-
Mar 11, 2008 (5:05 pm)
-
|
|
I have never owned an American manufactured car and would never consider one (unless, maybe a Corvette...but not right now in my life with 3 young kids). Anyway, looking at the Mazda CX9, Volkswagen Toureg 2, Acura MDX and one or two others. Why is GM offering such a nice vehicle but then making it so outrageously expensive that the lease programs SUCK. If I were buying it, no problem. Go to my bank, not the dealership, and get a good finance rate...end of story. But, for leasing...quoted for a very loaded (no Hard Drive NAV, No DVD, No Rear Camera system)...does include the package with the rotating headlamps, remote start, back up beeping in bumper, dual moonroofs and one or two other miscelaneous add ons...sticker price of car was $39,400 list. Price with $1,500 at start total, 15K miles annually, 39 months was $681 including the sales tax of 6 1/2%. Is this a good deal? For 36 months, same miles, $658/month. Now, this was without some options as stated above. It did have the bigger chrome wheel package available in CA, TX and FL only. It's really a shame to me because for a car that is loaded at $43,000 area, with about the $1,000 to $1,500 total at start, I would expect to pay about $550-$650/month. I also was looking at a Japanese car (Infiniti) with a sticker price of $51,000 and the lease for 39 months with $1,000 due total at start was about the same...$650 plus tax. I know there are many factors involved including residuals, lease factors and such but GM finally got a car I am somewhat interested in and they are screwing it up for themeselves and everybody who would otherwise want to lease one at a competitive rate...which they definitely are NOT!!! Shame on you GM...you lost my business for a long time (not that you ever had it before but now you'll never get it).
|
- #79 of 122
-
Re: Wake Up GM [bondguy1]
by kcorey
-
Mar 12, 2008 (11:35 am)
-
|
|
Replying to: bondguy1 (Mar 11, 2008 5:05 pm)
Maybe YOU think it's not a good deal, but I leased mine for 48 month, 12,000 mile/year, and at a lot better price than you're quoting. Shop around, and use a sharp pencil!! A lot of people are getting GREAT deals on Enclaves. Don't expect the dealer (or GM) to give the car away. It's HOT, and people in the know, know it's HOT, and they are buying one. If you're happy with an Import, so be it. I want a great car, and I got one...at a great deal, too.
|
- #80 of 122
-
Re: Wake Up GM [kcorey]
by bondguy1
-
Mar 12, 2008 (1:01 pm)
-
|
|
Replying to: kcorey (Mar 12, 2008 11:35 am)
Of course you got a better price...you only did 12,000 miles and for 48 months. I would never do a 48 month lease...just my personal preference. I know the warranty covers up to 50K miles but if I was going to lease for 48 months rather than 36, I would just put $10K down and buy the car. Remember, the deal to you may not be a deal to me...everybody gets a different price when they buy or lease. If people are willing to pay the high price for this SUV, than why wouldn't they continue to sell them there...can't fault them for that. I've seen it all too many times...today's hot car is old very quickly. For the same money, I am going back to either the Japanese SUV which has a proven RELIABILITY track record or back to the Audi Q7 (since I am currently driving my 3rd Audi A6 car). I don't believe there are any GREAT deals to be had on an Enclave lease now or since the car was introduced. I think if somebody wanted to get an Enclave, purchasing it would make more sense financially. You can use 4.1/2% rate from a bank or credit union for 5 year financing (payment of $652.51 financing $35K...putting $10K down)...for $45K including tax, you should be able to get a pretty well loaded vehicle. Incidentally, 4 year financing is $798.12/month for the same $35K financed. You can only put $5,000 down at start, finance $40,000 for 60 months and pay only$745.72/month and own the car outright. This is why I say a lease for this car doesn't make sense when for a little bit more, you can own it!
|
- #81 of 122
-
CXL Lease Quote: Thanks, but NO THANKS
by dammitjim1
-
Mar 13, 2008 (6:42 am)
-
|
I have a fully loaded Z-71 Tahoe that is reaching the end of its GMAC Smart Lease term, or at least within the so-called Pull-Ahead period, where I could make the jump into another GM vehicle. I had been interested in either the Acadia or the Enclave, leaning toward the Enclave on the basis of looks and amenities despite the unwritten law that you have to be old to drive a Buick. I knew that there was not much discounting going on with these Lambda cars, but really....
So , I price out a fully loaded CXL, all the packages, red jewel tintcoat, MSRP $46945
I am from eastern Nassau County, LI and contacted the internet sales manager at Arnold Buick. I get quoted a buy price of $44,811. Invoice is approx. 43,108. I guess $1700 over invoice for a Buick is acceptable at the moment.
When I asked for the Smart Lease pricing, I got quoted a rate of $603/mo for 39 months, with $3000 down.
$603/month for a Buick! BUICK!!! That pricing is already into Audi territory, among others. What is GM thinking??
At this rate, I will probably hold the Tahoe to the end of the lease and jump to another vehicle. The CX-9 GT is already on my short list.
|
- #82 of 122
-
Re: Wake Up GM [bondguy1]
by kcorey
-
Mar 13, 2008 (9:08 am)
-
|
|
Replying to: bondguy1 (Mar 12, 2008 1:01 pm)
I still think you have to run the numbers a little bit sharper. My lease was nothing down (I included the taxes, etc., with the payment). The only money I put down was $600. for the 1st payment, about $135 for motor vehicle fees,..the total down was about $1,000. The monthly payment is $519. month...for 48 months, 12,000 miles per year (48,000 miles for 48 months). I went to about 10 dealers and this seemed about the best deal. I special ordered the car, it took 13 weeks for it to come in, and I have everything on it I want. Why would I buy an Audi, Infiniti, VW, etc., when the Enclave is a much better car (in my opinion) with a much better warranty.
|
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Prices Paid: Buying & Leasing Experiences 
