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Prices Paid: Buying & Leasing Experiences Buick Enclave Lease Questions
165 messages, Last post on Dec 07, 2009 at 5:04 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: lwolf99 (Jun 07, 2007 5:22 pm) Car_man Host Prices Paid Forum |
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I have been offered a Buick Enclave for about $1000 under invoice (I'm eligible for GMS pricing). I am about $4000 upside down on my F150 and the sales person is telling me that the best way to go is to lease the Enclave. I average 22,000/yr so I am hesitant here. I am waiting on the numbers but for what little I know about leasing, I would think, especially being upside down, that buying outright is still the way to go. After you add in the $4000 loss in trade, I would be about $1000 above MSRP. Thoughts? Thanks! Bob |
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Replying to: kyfdx (May 08, 2007 6:35 pm) I've found that leases are often poor deals unless the manufacturer has a special. Any specials on the Enclave? Thanks.
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Bob, What is GMS pricing?
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Replying to: jimjack (Jun 22, 2007 3:41 pm) Benefits of the program are usually getting pretty low if not rock bottom pricing without having to deal real hard. Sometimes you also don't have to pay a DOC fee to the dealer.
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Thanks Bob, Hmmm, Human Resource dept eh?. Ooops, I'm a self emolyed Contractor. I'm all the resource I've got in that dept. Still looking for anyone that has hooked up their Acadia, Enclave, Outlook to a boat that is 4k lbs. And how did it do.. |
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Replying to: wlbrown9 (Jun 25, 2007 5:38 am) The supplier pricing has a different designation (which escapes me at the moment). I know.. counter-intuitive, but there you have it.. regards, kyfdx
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Car_Man and others, What are your thoughts on this quote I received from a dealer... 2008 Buick Enclave, CXL, AWD, Power Sunroof with 2nd row skylight, Driver Conf Pkg, Luxury Pkg, 19" chrome wheels, entertain pkg #4, trailering pkg, wheel content credit, cargo net, cargo shade, $735 destination charge, cocoa metallic exterior, cashmere interior. Info from dealer quote: MSRP = $45,465.00 Vehicle Cost = 42,404.63 Profit = $1,352.14 Sell price = $43,756.77 Lease Aquisition fee = $595.00 Cap Cost = $44,351.77 Fees = $177.50 Money due at inception = $1079.00 (1st pmt $901.50+177.50) Payment Info = $827.06 base + 74.44 tax = $901.50 Retention Rate = 7.70000 Reserve Rate = 0.00000 Disclosed Rate = 7.70000 Odometer = 800 miles Term = 24 months Mileage = 15,000 per year Residual = 67% Residual = $30,381.55 Some of my thoughts: - My calculation of invoice price(using Edmunds) = $41668. So I am not sure where he is getting his 42,404.63 cost figure. Seems to be high by $736. At first I thought that was Dest.Chg., but then I verified that was already included in by Invoice Price calc. Are there advertsing fees maybe? - I had another (more detailed) quote from a dealer and it showed $450 for LAM Dealer Contribution and $225 LAM Group Contribution. Are they advertsing fees? - Even if his cost figure was right, $1352 over invoice seems high to me, even for a new vehicle. Am I right or am I expectign too much, at this time? - $1,000 Conquest Cash should apply to me, so his $1352 actually becomes $2352 profit, right? - does the rate and monthly pmt seem right to you? Is he saying that the rate is 7.7% - 800 miles seems like it has been used as dealer demo. Should I expect a better price for a "new" vehicle that already has 800 miles on it? Overall, I do want to get an Enclave, and I do want to get one in the next 2 weeks- to be able to take advantage of the $1,000 Conquest - since it is basically free money. I am willing for the dealer to earn a reasonable profit - maybe $500 over invoice or so, plus his holdback and stuff. But I get the feeling of beeing taken to the cleaners on this offer. What do you think? Thanks for your time, and your thoughts.
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Replying to: lwolf99 (Jun 25, 2007 1:10 pm) When I was shopping at the end of last month, at least 3 local (MD) dealers were willing to sell me a nearly identical Enclave as yours at invoice price. The 7.7% sounds a little high (if your credit score is below 700 they may be raising the rate above 7.2% I was quote). Also, the dealers I dealt with were quoting a 36 month residual of 63%, so the 67% sounds a bit low. Using the Edmunds Lease calculator (http://www.edmunds.com/apps/calc/CalculatorController?pmtcalAction=lease_calc) I came up to a payment of $727.17 before taxes. The deal you have been shown seems high. For the equipment you specified, I came to an invoice of $41679. Given that it already as 800 miles on it, I would start at a price below invoice. Even at invoice, you should get a price of about $40679 (invoice less the conquest rebate). They seem to be gauging you in several ways, first the price, then the lease payment. Negotiate the price first,and then get a lease quote from a leasing company. Now that you can go on GMBuyPower.com to see what OTHER dealers have the exact car you want. I would recommend shopping around until you find the car you want. I recall seeing several in the Cocoa/Cashmere combination, so if you are near a metro area, you sould be able to find one quickly. With the end of the month approaching, I would shop around as there will be several willing to make deals. I did all of my shopping via the phone and Email. I found the internet managers at most dealers were more willing to negotiate as well. |
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Replying to: ody02tjk (Jun 25, 2007 2:40 pm) Thanks for the thoughts. My credit score is 790 - should I should qualify the best rate, I beleive. I am located near Pittsburgh, PA. I have looked at inventory on buick.com previously, and the GMBuyPower site that you recommended. There seem to be a few that are close, but the problem seems to be the Trailering Pkg. This seems to be the only dealer that has one with the Trailering Pkg - which I do want. Like you suggested, I will first focus on the sell price. I would be willing to go up to $500 over invoice, plus the Conquest Rebate, which would then get me to $500 under invoice. I would be happy with that deal. But, of course, I am not willing to do $2300 over invoice, which is what he seems to be offering. If he can agree to that, then I can turn to negotiating the lease payment. Car_man previously stated about 2 weeks ago that 24-month lease residual would be 67%, and rate of 7.2%. Can you explain how I turn the rate into calculating the lease pmt amount? Thanks. |
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