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Chevrolet Traverse Lease Questions

240 messages,  Last post on May 20, 2013 at 3:59 PM

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What is this discussion about? Chevrolet Traverse, Car Buying, Car Leasing, SUV

    

Messages Page 3 of 25

#16 of 240 Re: Traverse AWD LT2 Lease Numbers [dolphin5] by Car_man HOST

Sep 29, 2009 (3:22 am)

Replying to: dolphin5 (Sep 28, 2009 4:17 am)
Hey dolphin5. Here's the information that you're looking for. GMAC's current base lease rate and residual value for a 36 month lease of a 2010 Chevrolet Traverse LT2 AWD with 15,000 miles per year are 0.75% and 44%, respectively. The General is currently providing a $1,900 cash incentive on leases of this truck through GMAC.
 
GM is not currently providing lease support on the 2009 version of this truck.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#17 of 240 Re: Traverse AWD LT2 Lease Numbers [Car_man] by joefebeets

Sep 30, 2009 (5:45 pm)

Replying to: Car_man (Sep 29, 2009 3:22 am)
What could I expect to pay per month on fully loaded 36 mth lease with 0 down, 12k per year? Is there a link which will walk me thru this calc. Thanks, haven't used the site in few yrs.

#18 of 240 Re: Traverse AWD LT2 Lease Numbers [joefebeets] by Car_man HOST

Oct 07, 2009 (2:54 am)

Replying to: joefebeets (Sep 30, 2009 5:45 pm)
Hi joefebeets. I would be happy to work up a sample lease payment on the truck that you are interested in if you provide me with its full MSRP and approximate selling price...or at least the MSRP and invoice price. That data is available right here in the New Vehicle Pricing section of this site.
 
If you want to calculate this truck's payment on your own, you can use the formula that is outlined in the following article: Calculate Your Own Lease Payment.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#19 of 240 Press request by KarenS HOST

Oct 07, 2009 (10:27 am)

A reporter is looking to speak to consumers who recently leased a GM or Chrysler vehicle in the past two months . Please send your daytime phone number to ctalatiedmunds.com by Thursday, October 8, 2009.

#20 of 240 Lease of LT1 question for car man by wnuk

Oct 09, 2009 (5:19 pm)

Car Man
 
In your above post, you indicated:

 The General is currently providing a $1,900 cash incentive on leases of this truck through GMAC.
 
Is this still the case today? I am interested in leasing a 2010 LT1 with 7 passenger seating with an MSRP of $34,715. The dealer quoted me $425/month (taxes included) with $3,125 down, 48 months, 12K per year. He also quoted me an interest rate of 2.5% and a residual of $13,191 (38%). He told me of the $1000 rebate on the vehicle through GM but nothing of the $1,900 through GMAC that you mentioned. Is this still in effect? Also, when I ran the numbers through the lease calculator here on edmunds, (Invoice minus rebate plus down payment) I came up with $387/month. Any idea on a reason for the descrepency?
 
Do I have the correct numbers (money factor and residual)?
 
Thank you for any info you can provide.

#21 of 240 Re: Lease of LT1 question for car man [wnuk] by Car_man HOST

Oct 22, 2009 (2:42 am)

Replying to: wnuk (Oct 09, 2009 5:19 pm)
Yep, wnuk, the $1,900 cash incentive for leases of the 2010 Chevrolet Traverse through GMAC is still available.
 
GMAC's current base lease rate and residual value for a 48 month lease of a 2010 Traverse LT1 AWD with 12,000 miles per year are 1.25% and 38%, respectively.
 
I would be happy to work up a payment on this truck for you if you tell me what number you are using as a selling price.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#22 of 240 Re: Lease of LT1 question for car man [Car_man] by wnuk

Oct 23, 2009 (3:31 pm)

Replying to: Car_man (Oct 22, 2009 2:42 am)
Car man- Thank you for confirming those numbers for me. I worked up a payment using the following numbers and would like you to look it over, tell me if I'm doing it right.
 
Known Values: MSRP: $34715
Residual: $13191 (38% of MSRP)
Money Factor: .1.25% or .0005 (Dealer quoted me 2.5%)
Dealer fees: $1400 ($795 incept, $450 sec. dep. $155 tags)
 
Negotiated Selling Price of Vehicle:
Dealer Invoice: $33005 (Price paying for vehicle)
Trade Value: $8000 (Price for trade)
Dealer Incentive: $1900 (GM Rebate for lease of 2010 1LT AWD)
Down Payment: $3175 (GM Card rebate $875 + $500 Fall Care Promo
                                                       plus $1800 cash)

 
Total Selling Price: $19930
 
Use Value (depreciation):
Invoice Price (plus) Trade Payoff (plus) Dealer fees (minus) Residual
$19930 + $8100 + 1400 - $13191 = $16239
 
Depreciation Payment of Lease:
Depreciation value divided by length of lease
$16239 / 48 months =
     $338.31 per month
 
Interest Payment Calculations:
Invoice Price (plus) Residual (multiplied by) Money Factor
$19930 + $13191 multiplied by .0005 =
                $16.56 per month
 
Base Lease Payment Calculations:
Depreciation Payment + Interest Payment
$338.31 + $16.56
$354.87 per month
 
Sales Tax Payment Calculations:
Base Lease Payment (multiplied by) PA Sales Tax Rate
$354.87 multiplied by .09 (6 % sales tax + 3% lease tax) =
$31.93 per month
 
Total Lease Payment Calculations:
Depreciation Payment (plus) Interest Payment (plus) Sales Tax =
$338.31 + $16.56 + $31.93 =
 
                  $386.80 per month
 
Can you let me know if I did my calcs right or if I missed something?
Thanks for all your help. You are a true asset to these forums.

#23 of 240 Re: Traverse AWD LT2 Lease Numbers [Car_man] by cats13

Nov 01, 2009 (11:27 pm)

Replying to: Car_man (Oct 07, 2009 2:54 am)
Car Man: I'm in New York and looking to lease the 2010 Traverse FWD LT2 or LTZ. What can you tell me about the November rates from USBank (that's the one that does it in NY in GMAC's place, right?) for the interest rate and residuals on both the 39 months/12K miles/yr and 39 months/15K miles/yr? If possible, can you tell me if they differ b/t the FWD and AWD models?
 
Since it seems that NY is different from other states, would also love to get info on what sort of fees USBank charges in NY and what incentives are available.
 
Much appreciated in advance.

#24 of 240 Re: Lease of LT1 question for car man [wnuk] by djhalptert

Nov 02, 2009 (10:37 am)

Replying to: wnuk (Oct 23, 2009 3:31 pm)
Please tell me you did not do this. You are putting down $10,000+ on a lease!!! And your payment on a 4 year lease is still $386??? That is the worst deal I have ever heard of on this board. I hope you came to your senses or someone talked you off the roof after you signed the papers.

#25 of 240 Re: Lease of LT1 question for car man [djhalptert] by wnuk

Nov 02, 2009 (11:53 am)

Replying to: djhalptert (Nov 02, 2009 10:37 am)
Not sure where you came up with 10K down? If you look at the figures, I still owe $8100 on my trade so I put that back into the total depreciation figure. If indeed I did offer to put 10K down on a lease, I would need to see a shrink about that. LOL
Sorry you misunderstood. I did forgo this deal anyhow as I think leasing for 48 months is just a bit too long. I'll be shopping for a 36 month deal once the November numbers on leases start showing up.
 
Car-Man, any new changes coming for GMAC leases on a Traverse LT1 in November? Or might they stay the same as October? I live in PA>
 
Thanks

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