- #30 of 41
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Re: Lease of LT1 question for car man [wnuk]
by djhalptert
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Nov 02, 2009 (7:38 pm)
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Replying to: wnuk (Nov 02, 2009 5:23 pm)
99% of people who lease pay only the first monthly payment at lease signing. Don't fall for their security deposit b.s. as they are total rip offs. If you look at any GMAC, Ford, etc end of lease guide it will show you a template of all the normal wear and tear that is allowable. Cigarette burns can only be so big, X number of dents per panel etc. You would have to be a complete moron to treat your leased car like that. Waive the security deposit. The acquisition fee should be included in your lease. I'm not sure why you would pay it up front. It doesn't matter if you are paying in GM card points or cash4gold, you are putting money down that you don't have to. Beware of their tricks. 1st monthly payment is all you ever HAVE to put down. (except some states require you to put plates and tax).
Do whatever you want, I am just offering my take on it as a guy who has leased 2 GM, 4 Fords, 1 Chrysler, and 2 Subarus. On my last lease the finance guy said we were all done and held his hand out and said thanks and I said, "didn't you forget about the odometer statement?' He replied, "oh, gosh. I did." I said I have done this ONCE OR TWICE OR NINE TIMES. (that was my second lease in under 6 months)
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- #31 of 41
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Re: Lease of LT1 question for car man [djhalptert]
by cats13
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Nov 02, 2009 (11:06 pm)
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Replying to: djhalptert (Nov 02, 2009 7:38 pm)
what's an odometer statement? Good lord, the more I learn about this leasing business, the less I know. Good thing I'm giving myself like 24 hrs to do my first lease. Sorry for the stupid question about to roll off my tongue, but is there anything else I should be worried about?
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- #32 of 41
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Re: Lease of LT1 question for car man [cats13]
by wnuk
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Nov 03, 2009 (4:51 am)
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Replying to: cats13 (Nov 02, 2009 11:06 pm)
An odometer statement is a declaration by the dealership stating the exact mileage on the vehicle you are leasing at the time of delivery. You then have your alloted lease mileage from that point, not from a "zero" reading on the odometer.
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- #33 of 41
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Re: Lease of LT1 question for car man [wnuk]
by cats13
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Nov 03, 2009 (10:21 am)
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Replying to: wnuk (Nov 03, 2009 4:51 am)
gracias. Any info out there yet about the November lease programs available in NY through USBank (money factor, residuals, incentives, etc)? Looking at the 2010 Traverse FWD in either 2LT or LTZ with either 12k miles or 15k/yr.
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- #34 of 41
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Re: Lease of LT1 question for car man [wnuk]
by cats13
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Nov 04, 2009 (8:54 pm)
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Replying to: wnuk (Nov 03, 2009 4:51 am)
Guys, here's another thing I don't understand: if the adjusted cap cost is the number from which all other numbers flow, and I'm paying the first month's pymt out of pocket (ie, not rolling it in), shouldn' the adjusted cap cost be reduced by that first month's pymt amount? Otherwise, I'm paying it twice, no? Once out of my pocket and then again on the all-in adjusted cap cost. What am I missing here?
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- #35 of 41
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Re: Lease of LT1 question for car man [cats13]
by kyfdx HOST
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Nov 05, 2009 (4:28 am)
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Replying to: cats13 (Nov 04, 2009 8:54 pm)
36 payments to pay down your lease from the CAP cost (amount borrowed) to the residual (end of term balance) during the term of the lease... Your first payment isn't included in your net CAP cost...
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- #36 of 41
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Re: Traverse AWD LT2 Lease Numbers [cats13]
by Car_man HOST
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Nov 10, 2009 (3:25 am)
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Replying to: cats13 (Nov 01, 2009 10:27 pm)
Hi cats13. The GMAC base lease rate and residual value for a 39 month lease of a 2010 Chevrolet Traverse FWD LT2 with 15,000 miles per year are 1.0% and 38%, respectively. I haven't seen the US Bank program for this truck recently, but I wouldn't be surprised iff it was very similar to the GMAC program.
The residual value for an otherwise identical lease of an AWD model would be 2% higher. I believe that dropping from 15,000 to 12,000 miles per year increases the residual value by 2% as well.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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- #37 of 41
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Re: Lease of LT1 question for car man [wnuk]
by Car_man HOST
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Nov 10, 2009 (3:29 am)
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Replying to: wnuk (Nov 02, 2009 10:53 am)
Hey wnuk. GMAC's November base lease rate and residual value for a 48 month lease of a 2010 Traverse LT1 AWD with 12,000 miles per year are 1.95% and 38%, respectively.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
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- #38 of 41
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Lease of LT1 question for car man
by wnuk
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Nov 12, 2009 (11:19 am)
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Thanks for the info car man. We decided that 48 months is too long for a lease and will likely look for a 36 or 39 month lease on the same LT1. Do you know if GMAC is still offering the $1900 lease rebate it did in October? Maybe it has increased or decreased? Could you provide the m.f. and residual for a 39 month 12000 mile lease on the LT1?
Thanks again.
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- #39 of 41
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2010 Traverse lease
by cintiwestguy
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Dec 02, 2009 (5:26 pm)
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Wife wants to lease a traverse.Preferrably an AWD LT2. A dealer said GM came out with "fantastic" December deals. Any guidance on lease numbers would be great. Or, a range of what a fair payments would be. We are in Cinti, Ohio if that makes any difference. Terms - 36/39 mos, 12k per year and $0 down.
Thanks in advance.
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