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Chevrolet Traverse Lease Questions

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  • wnukwnuk Posts: 40
    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.
  • cats13cats13 Posts: 12
    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.
  • cats13cats13 Posts: 12
    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?
  • kyfdxkyfdx Posts: 29,850
    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...

    MODERATOR
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  • 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
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  • 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
  • wnukwnuk Posts: 40
    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.
  • 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.
  • You're very welcome, wnuk. I completely agree. I always lease my vehicles and I personally would never do so for longer than 36 to 39 months.

    General Motors actually bumped up its cash incentive on GMAC leases of this truck to $2,450.

    GMAC's current base lease rate and residual value for a 39 month lease of a 2010 Chevrolet Traverse LT1 AWD with 12,000 miles per year are 1.0% and 40%, respectively.

    Car_man
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  • Hi cintiwestguy. You should be able to get a decent idea of what this truck's lease program is currently like by checking out my previous post. If you have any additional questions that it doesn't answer, please let me know.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • cpamancpaman Posts: 42
    Carman,

    Any info on January or February lease terms for the Traverse, 36/39 month lease?
  • I am supposed to sign for a 48 month lease today, but the vehicle has 4000 miles on it, driven supposedly by the owner of the dealership. The sales manager is using the sticker price, even with the miles!! He says he is giving me .10 cents a mile/ $400.00 in check form today, does this sound like a bad deal to anyone but me? After incentives, my monthly payment would be $490.00
  • Personally I would not do this deal. Leasing is complicated enough, but trying to place a value on a car that already has 4k miles on it? How does that work? Trying to get a fair deal on this vehicle is going to be very difficult, the dealer is probably going to come out way ahead particularly if you pay for it (lease it) as though it is new. You'll have to keep a close eye on the fine print, most notably regarding the penalty for being over on miles at the end of the lease.
  • jb_turnerjb_turner Posts: 702
    This car may as well be a used car..... 490 is too high anyways.. run away!
  • Hey cpaman. 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 LS AWD with 15,000 miles per year are 1.0% and 46%, respectively. the numbers for an otherwise identical 39 month lease are 1.0% and 44%.

    You never mentioned the exact trim level that you're interested in, so I had to guess. Let me know if you want something different.

    When negotiating your lease on this truck, make sure to take the $2,200 cash incentive that General Motors is currently providing on leases of it through GMAC into account.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hello, I am looking for a 36 or 39 month lease on the Chevy Traverse - LT1 FWD. I would like to know the current rates and all incentives for this vehicle. I was in a GMC dealership and they told me GMC was giving a $1000 incentive to buy out your lease if you currently have an Acura/Nissan lease - would this be the same on the Traverse since it's GM? Also, I read a post about being able to waive the security deposit, is this true? This is only our 2nd lease and we're looking to be educated and get the best deal.
    Thank you
  • Forgot to put in 12k miles in the above post.
  • Can you pls tell me the residueal and money factor for Feb for the following models (12k/36 months):
    LT AWD; 2LT Awd and LTZ AWD?

    Also, are there any lease incentives this months?

    lastly, do you know if the gmc supplier discount applies to leases and if so, waht should i expect? is it in addition to any other incentives? (if you already answered this on the acadia board - thank you, i am comparing the 2 vehicles).

    thank you.
  • new guy - what have the dealerships been offering, interested in comparing notes?
  • Welcome newguy44. 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 LT1 FWD with 12,000 miles per year are 1% and 44%, respectively.

    The numbers for an otherwise identical 39 month lease are 1% and 42%.

    As far as cash incentives go, GM is currently providing $2,200 on leases through GMAC plus $1,000 bonus cash plus the $1,000 conquest cash that you mentioned.

    Car_man
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  • Here you go, ethandane. GMAC's current base lease rate and residual value for a 36 month lease of a 2010 Chevrolet Traverse LT1 AWD with 12,000 miles per year are 1% and 46%, respectively.

    The numbers for the Traverse LT2 AWD are exactly the same. The lease rate for the Traverse LTX AWD is the same, but its residual value is 48%.

    In February General Motors is providing a $2,200 cash incentive on leases of this truck through GMAC plus $1,000 bonus cash and $1,000 conquest cash for current owners of select vehicles.

    I don't see why GM's supplier purchase program wouldn't bee available on leases. Any available cash incentives would be deducted from GM's low supplier purchase price.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Car Man - you've done good for us every time we've needed info on a lease, so here goes:

    Traverse LT2 AWD lease

    MSRP: $41,140.00
    -Lease Payment: $556.00 for 36 months
    -Due on Signing: $1316.00
    -Residual $19,335.00 (47% factor)
    Take delivery by end of February (Monday)

    I am also a Toyota owner (think that's worth $1k). I thought I had also seen GMAC lease cash $2.2k and $2k rebate for President's Day that expire Monday.

    Thanks in Advance,
    Leasing In Central CT
  • pmnypmny Posts: 2
    Traverse LT2 AWD lease

    MSRP: $40,615.00
    -Lease Payment: $550 for 39 months
    -Due on Signing: $1500.00
    -Residual - 46%
    -Interest rate - 0.96%

    Is this a good deal? What are the current lease rebates available in NYC area?
  • jrg1111jrg1111 Posts: 4
    Does anyone know the residual value and money factor for a 2010 Traverse LT1 AWD Lease? Figure a 36 or 39 month lease and 12,000 miles a year. Looking in NJ. Thanks.
  • stormy111stormy111 Posts: 16
    PMNY:

    I'm in the message b4 you on the board - I never heard from Car_Man but we took our deal - your's looks real similar. 0.9% leasing is thru US Bank, not GMAC. Ever since Traverse hit 2010 SUV of the Year in Consumer Reports the supply has been drying up and the price has been going up.

    --Leasing in Central CT
  • pmnypmny Posts: 2
    Thanks stormy. I've heard the same thing about the price actually going up due to limited supply. I'm going to take my deal as well. It really is a nice vehicle and roomier and better on gas than its competitors. Best of luck with yours.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey stormy111. 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 1.0% and 45%, respectively.

    General Motors is currently providing a $1,920 cash incentive for leases of this truck through GMAC.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello jrg1111. Here you go. GMAC's current base lease rate and residual value for a 39 month lease of a 2010 Chevrolet Traverse LT1 AWD with 12,000 miles per year are 1.0% and 45%, respectively.

    When negotiating your lease on this vehicle, make sure to take advantage of the $1,920 cash incentive that is available on leases of it through GMAC this month.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • jrg1111jrg1111 Posts: 4
    Thanks, Car Man. One other question -- does the rate/residual change if I go with an LT2?
  • stormy111stormy111 Posts: 16
    Car_Man:

    Took our lease deal but the Chevy Dealer leased us thru US Bank - 36 month @ 0.9%, 15k miles and a 47% residual. A couple of questions:

    1) Do different leasing firms offer different residuals on the same model?
    2) The dealer steered us away from GMAC due to a $2000+ lease inception fee - said US Bank only charged $695 - do lease inception fees vary this much?
    3) US Bank lease has gap insurance built-in - do GMAC leases?
    4) We turned back a 2008 Prius to Toyota that was going off a 2 year lease - in the process of closing out Toyota Motor Credit lease, they told us we could extend lease on month-2-month basis for up to a year at the same payment (about $500/month). At the end of the next year, the residual value would have gone from $16400 to about $12000. I didn't know leasing companies could extend lease month-2-month - is this common?

    Thanks,
    Stormy111
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