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Chevrolet Traverse Lease Questions

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  • MichaellMichaell ColoradoPosts: 7,424

    @rich210 said: Thanks for your response. Dealer has not been forthcoming with the information so I am looking for another dealer. I am new to leasing, so would you explain how the MF works? Thanks.

    Money factor is the "rent charge" (interest) you pay on the money borrowed for the lease term. It's often represented as a small decimal value (.00130) which can be converted into an interest rate by muliplying by 2400. GM, however, uses interest rate percentages, which you convert into a decimal by dividing by 2400.

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  • ellysbellyellysbelly Posts: 5

    Looking for the current rates/incentives available for an AWD LTZ with either 12K or 15K/year. In either FL or MN (if there's different rates/incentives for different states) Thanks in advance!

  • ssmorolssmorol Posts: 5

    Anyone have current rates for 15K/yr lease in NY? Thanks!

  • MichaellMichaell ColoradoPosts: 7,424

    @ellysbelly said: Looking for the current rates/incentives available for an AWD LTZ with either 12K or 15K/year. In either FL or MN (if there's different rates/incentives for different states) Thanks in advance!

    You didn't mention lease term, so I'll assume 36 months.

    .86 MF and 57% residual for 15K .. add 2% for 12K. $675 lease cash in May.

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  • MichaellMichaell ColoradoPosts: 7,424

    @ssmorol said: Anyone have current rates for 15K/yr lease in NY? Thanks!

    .86% MF and 57% residual for 36mo/15K. $675 lease cash.

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  • jnkohjnkoh Posts: 23

    @Michaell What are the numbers on a 2014 Traverse 2LT AWD, 12K miles per year? Not sure if lease terms or 36 month or 39 month. Thanks. Hoping to get a deal by the end of the month. Any incentives for the month of May?

  • kyfdxkyfdx Posts: 30,594

    @jnkoh said: Michaell What are the numbers on a 2014 Traverse 2LT AWD, 12K miles per year? Not sure if lease terms or 36 month or 39 month. Thanks. Hoping to get a deal by the end of the month. Any incentives for the month of May?

    2.45% APR and 59% residual. $675 lease cash. 57% residual for 39 months.

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  • fadcfadc Posts: 3
    Can anyone please tell me if this is a good deal for leasing a 2014 Traverse LTZ (AWD) with Navigation and Moonroof?

    39 mo/12K miles/year
    $489/mo with only first month and plate transfer (registration) fees due at signing.

    Good deal or no?

    Thanks in advance for your help!
  • MichaellMichaell ColoradoPosts: 7,424

    @fadc said: Can anyone please tell me if this is a good deal for leasing a 2014 Traverse LTZ (AWD) with Navigation and Moonroof?
    39 mo/12K miles/year $489/mo with only first month and plate transfer (registration) fees due at signing.
    Good deal or no?
    Thanks in advance for your help!

    What is the MSRP and selling price? Those will help us evaluate your deal.

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  • fadcfadc Posts: 3
    @Michaell..MSRP is $46,235. Not sure of the selling price. I'm supposed to sign the deal tomorrow. Can the deal be evaluated at face value to see if "renting" a fully-loaded (no DVD entertainment system) for 39-months at $489/mo is a good deal? Does it matter what the other numbers look like if I just turn the car in at the end of the lease?
  • MichaellMichaell ColoradoPosts: 7,424

    @fadc said: Michaell..MSRP is $46,235. Not sure of the selling price. I'm supposed to sign the deal tomorrow. Can the deal be evaluated at face value to see if "renting" a fully-loaded (no DVD entertainment system) for 39-months at $489/mo is a good deal? Does it matter what the other numbers look like if I just turn the car in at the end of the lease?

    I would say it's an ok deal. The two areas to watch out for are the selling price - negotiate it as low as you can by using the pricing tools at the top of the page - and ensure the MF is not marked up. Base MF for 39 months is 2.45% with $675 of lease cash.

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  • fadcfadc Posts: 3
    @Michaell. Thanks for all of your help!
  • laxcarslaxcars Posts: 15

    What are the current lease rates on 2014 Traverse 2LT. 10k/year 36mo?

  • MichaellMichaell ColoradoPosts: 7,424

    @laxcars said: What are the current lease rates on 2014 Traverse 2LT. 10k/year 36mo?

    1.55% MF and 60% residual for 2LT. $675 lease cash this month.

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  • watson521watson521 Posts: 1

    What is the current MF and residual on 2014 Traverse LT AWD for 36mo 12k in NJ? Thank you in advance

  • kyfdxkyfdx Posts: 30,594

    @watson521 said: What is the current MF and residual on 2014 Traverse LT AWD for 36mo 12k in NJ? Thank you in advance

    1.55% APR and 59% residual. $675 lease cash.

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  • fuelcellguyfuelcellguy Posts: 23
    edited August 1

    I am looking at a 1LT traverse MSRP $35,855 in NY They told me they are giving me employee price at $32,911 and $2,175 in rebates (includes $500 loyalty/conquest, $675 lease cash, $1000 GM Rebate) They used GM Financial figures of 0.86% APR and 57% residual for 15k and 59% for 12k at 36 months.
    Are all these numbers correct and what should I be looking at as far as payment? I should also ask, are 39 month residuals 2% lower?

  • MichaellMichaell ColoradoPosts: 7,424

    @fuelcellguy said: I am looking at a 1LT traverse MSRP $35,855 in NY They told me they are giving me employee price at $32,911 and $2,175 in rebates (includes $500 loyalty/conquest, $675 lease cash, $1000 GM Rebate) They used GM Financial figures of 0.86% APR and 57% residual for 15k and 59% for 12k at 36 months.
    Are all these numbers correct and what should I be looking at as far as payment? I should also ask, are 39 month residuals 2% lower?

    The numbers I have for the 2014 Traverse 1LT are 57% for 36/15 and 59% for 36/12. MF is 1.55% and there is $675 lease cash.

    39 month residuals are 2% lower.

    Are you saying that the net cap cost is the employee price of $32,911 before the $2175 in rebates and incentives?

    In NY the taxes for a lease are calculated up front and either added to the cap cost or paid up front.

    My calculations show the following pre-tax payments:

    36/15 - $319.34

    36/12 - $299.88

    39/15 - $315.25

    39/12 - $297.33

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  • fuelcellguyfuelcellguy Posts: 23
    edited August 1

    Thank you for your reply. Are these Ally numbers? I am assuming you are using your posted APR of 1.55% for the monthly payments.
    Yes the $32911 is before the rebates. So cap cost is $30,736.

  • MichaellMichaell ColoradoPosts: 7,424

    @fuelcellguy said: Thank you for your reply. Are these Ally numbers? I am assuming you are using your posted APR of 1.55% for the monthly payments.
    Yes the $32911 is before the rebates. So cap cost is $30,736.

    The only numbers I have for GM are from Ally.

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  • zachman1zachman1 Posts: 19

    Can you provide to me money factor on the 2LT 2015 model for 36 month and 39 month along with residuals?

    Looking at deal with sunroof/leather/nav/captain seats and quoted $460 per month at 39 months with only first month and some dealer costs (about $1300) upfront. Tax included in price.

  • MichaellMichaell ColoradoPosts: 7,424

    @zachman1 said: Can you provide to me money factor on the 2LT 2015 model for 36 month and 39 month along with residuals?

    Looking at deal with sunroof/leather/nav/captain seats and quoted $460 per month at 39 months with only first month and some dealer costs (about $1300) upfront. Tax included in price.

    How many miles per year?

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  • kyfdxkyfdx Posts: 30,594

    @zachman1 said: Can you provide to me money factor on the 2LT 2015 model for 36 month and 39 month along with residuals?

    Looking at deal with sunroof/leather/nav/captain seats and quoted $460 per month at 39 months with only first month and some dealer costs (about $1300) upfront. Tax included in price. @zachman1 said: 12K

    Unfortunately, we don't have the Chevy information for September, yet...

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  • skilskil Posts: 5

    @kyfdx said: Unfortunately, we don't have the Chevy information for September, yet...

    When do you anticipate getting it?

  • kyfdxkyfdx Posts: 30,594

    @skil said: When do you anticipate getting it?

    Last week.. :(

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  • Here is an offer and wanted to know your thoughts. 2015 2LT with leather/Nav/sunroof 36 months msrp 43,560 with 12k per year and only first month payment required upfront. Quote at $490 per month inclusive of tax. Good deal?

  • MichaellMichaell ColoradoPosts: 7,424

    @zachman1 said: Here is an offer and wanted to know your thoughts. 2015 2LT with leather/Nav/sunroof 36 months msrp 43,560 with 12k per year and only first month payment required upfront. Quote at $490 per month inclusive of tax. Good deal?

    Hard to determine ... we don't have the numbers from Chevrolet for this month, so we cannot tell if the dealer has marked up the money factor on you or not.

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  • skilskil Posts: 5

    @zachman1 said: Here is an offer and wanted to know your thoughts. 2015 2LT with leather/Nav/sunroof 36 months msrp 43,560 with 12k per year and only first month payment required upfront. Quote at $490 per month inclusive of tax. Good deal?

    Do you not qualify for employee pricing, lease loyalty, military discount, or other discounts? That seems high.

  • MichaellMichaell ColoradoPosts: 7,424

    @skil said: Do you not qualify for employee pricing, lease loyalty, military discount, or other discounts? That seems high.

    Not to mention the ability to negotiate a substantial discount from sticker. Use the pricing tools at the top of the page to help establish a target price.

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