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Chevrolet Traverse Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're welcome, jrg1111. The lease program for the LT2 AWD is exactly the same as the program for the LT1 AWD.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi stormy111. Yes it is entirely possible for two banks to have completely different residual values for the same vehicle. Having said that, GMAC's resids are very conservative so I suspect that they are probably fairly similar to US Bank's.

    The amount due at lease signing can vary from bank to bank as well.

    I believe that GMAC leases do include gap insurance.

    Many banks allow consumers to extend their leases past their scheduled end dates at the same payment. I've done this a couple of times in the past with different banks.

    Car_man
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  • autoboy19autoboy19 Posts: 90
    Car_man,

    Do you have the current lease rate, residual and CCR for the 2010 Chevrolet Traverse LTZ AWD and FWD for 36 months and 12k miles per year?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    I certainly do, autoboy19. Here you go.

    GMAC's current base lease rate and residual value for a 36 month lease of a 2010 Chevrolet Traverse LTZ AWD with 12,000 miles per year are 1.0% and 49%, respectively.

    The lease rate for an otherwise identical lease of a '10 Traverse LTZ FWD is the same, but its residual value is 2% lower.

    When negotiating your deal on this truck, make sure to take advantage of the $1,920 cash incentive that General Motors is providing on leases of it through GMAC.

    Car_man
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  • starikstarik Posts: 3
    Hello Car_man!

    Thank you very much for your priceless info!
    Could you please provide May lease rate and residual% for 36 (or 39) month lease w/15k miles on a Traverse LT1 FWD?
    Any lease incentives in May?
    My current lease is up, and I need to pick up a new one this coming weekend...

    Thank you!
  • ccracinccracin Posts: 3
    Hi carman, I have to say the information you provide is outstanding. I currently have an Outlook XR AWD lease coming to an end in June. I am interested in the current lease factors and residuals for the Traverse LT2 and LTZ AWD's. I would be interested in 12K and 15K 36 month leases. We are able to use the GM employee pricing if it makes sense. Any information you can provide would be helpful. I am in southwestern PA. Any incentives? Thanks for any information you can provide. I will be posting the same questions in the Acadia forum.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    No problem starik. GMAC's May lease rate and residual value for a 36 month lease of a 2010 Chevrolet Traverse LT1 FWD with 15,000 miles per year are 1.55% and 42%, respectively.

    The numbers for an otherwise identical 39 month lease are 1.55% and 40%.

    When negotiating your deal on this truck, make sure to take advantage of the $2,600 cash incentive that is currently available on leases of it.

    Car_man
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  • Hello, carman...

    i'm sure you're getting tired of this, but i'm looking to confirm the 36-month and 39-month lease rates/residuals/cap cost red. for a 4wd LTZ traverse (12k and 15k.) i've been negotiating with two places, and am getting conflicting information - i just can't seem to get to a comfortable degree of transparency with these guys. i also would appreciate it if you could let me know when these lease rates are set to expire.

    thanks in advance!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    edited June 2010
    Hello cartradingfool. I'm not tired of helping at all. Tired in general, yes, but that's nothing that another cup of coffee won't cure :) . Here's the information that you're looking for.

    GMAC's June base lease rate and residual value for a 36 month lease of a 2010 Chevrolet Traverse LTZ 4WD with 15,000 miles per year are 1.55% and 46%, respectively.

    The numbers for an otherwise identical 39 month lease are 1.55% and 44%.

    If you were to lease this truck with only 12,000 miles per year, its residual values would be 2% higher.

    When negotiating your deal on this vehicle, make sure to take the $2,600 cash incentive that is available on leases of it through GMAC into account.

    These programs are scheduled to run through June 30th.

    Car_man
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  • cnote2cnote2 Posts: 42
    looking for 2lt fwd and awd MF and residual for 12k 36 and 39 month. I assume the 2600 still applies.
    Thanks
  • this is a very basic version. AWD LS msrp is $32,439 due to bluetooth, leather on steering wheel and spare tire. Price they are offering in NY $31,758, Lease offer: Money factor .0004; residual 46%, 39 months, 15,000 miles. $438 per mo with nothing down except 1st month and mv. tax rate here is 7.325% "Bank fee" of $695(in payments) and there is a lease end fee of $395 (not in payments)...my brother's friend is in the leasing business and says that leasing with this money factor is better than 0% for 60 months which they are also offering. He says I should ask them to come down though -- to $400 a month b/c the dealer is making too much on us....do you agree?
  • just1114just1114 Posts: 1
    Hi where is the place where i can get this deal you mmean with no money down? thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Here you go, cnote2. GMAC's current base lease rate and residual value for a 36 month lease of a 2010 Chevrolet Traverse LT2 FWD with 12,000 miles per year are 1.55% and 44%, respectively.

    The numbers for an otherwise identical 39 month lease are 1.55% and 42%.

    The lease rate for the '10 Traverse LT2 AWD is exactly the same, but its residual values are 2% higher.

    The $2,600 cash incentive is indeed still available on leases of this truck through GMAC.

    Car_man
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  • eleven03eleven03 Posts: 10
    Hi Car_Man,

    I am interested in leasing a 2010 LT2 FWD Traverse for 36 months with 15k/year.
    Do you know GMAC's current money factor and residual rates for a 36 month lease?

    Additionally, what, if any, current incentives is GM providing for leases of this vehicle?

    Thank you!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey eleven03. General Motors' June incentives are scheduled to run through today, July 6th. I can give you the details of the June program now and you can check back with me in a couple of days for the details if the new July offers.

    Through July 6th, General Motors' 36 month base lease rate and residual value for a 36 month lease of a 2010 Chevrolet Traverse FWD LT2 with 15,000 miles per year are 1.55% and 42%, respectively.

    As you can see, GMAC publishes lease rates instead of money factors for the vehicles that it leases. You can convert its lease rates into approximate money factor equivalents by dividing hem by 2400.

    When negotiating your deal on this truck, make sure to take advantage of the $2,600 cash incentive that is currently available on leases of it through GMAC.

    Car_man
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  • fitzramfitzram Posts: 31
    Hey Car Man:

    Don't know how you do it, but I need a little of your magic info.

    I'm looking to lease either a '10 or '11 Traverse 2LT or LTZ with 12k/year for 36 mo (or whichever lease term happens to have the best deal). Can you tell me the current int rate (I hear GMAC states their money factors as a rate - no prob...I can convert to a money factor) and residual values?

    Also are their any incentives offered right now? I can wait until Aug if incentives dried up this month. This will be my 1st Chevy.

    Thanks for your help.

    FitzRam
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey fitzram. Here's the information that you're looking for :) .

    GMAC's July base lease rate and residual value for a 36 month lease of a 2010 Chevrolet Traverse 2LT AWD with 15,000 miles per year are 1.9% and 42%, respectively. The lease rate for the '10 Traverse LTZ AWD is the same, but its residual value for this term is 2% higher.

    The numbers for an otherwise identical lease of an '11 Traverse 2LT AWD is 3.0% and 48%. The numbers for an '11 Traverse LTZ AWD are 3.0% and 3.0% and 49%.

    When negotiating your deal, make sure to take the $3,100 cash incentive that is currently available on leases of the 2010 Traverse through GMAC and $800 that is currently available on leases of the '11 Traverse through GMAC into account.

    Car_man
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  • tgirlsmomtgirlsmom Posts: 1
    If a car dealer has a Traverse for $30,099 but a reduced price of $25,827 - what should the cost of a 36 mo lease with 12,000 miles per year honestly be for me? Even an estimate (not the % for lease rate and % residual value) but a workable answer in U S dollars for a person who is not great with all the math would be great. Trying to get this Traverse in the next 2 - 3 days in the Balt / DC area. I have just not be given honest responses (from $445 - $499 per month) from dealers. I would appreciate any help I can get! tks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey tgirlsmom. Let's work up a payment on this truck for you and see what we come up with.

    According to my calculations, if you were to lease a 2010 Chevrolet Traverse 1LT AWD (this truck's lease program varies by trim level...let me know if you want something different) that has an MSRP of $30,099 and a selling price of $25,827 through GMAC right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $373.

    Car_man
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