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Chevrolet Traverse Lease Questions

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  • Hey autoboy19. Ally's current base lease rate and residual value for a 24 month lease of a 2011 Chevrolet Traverse LT1 AWD with 15,000 miles per year are 0.15% and 60%, respectively.

    The numbers for an otherwise identical 27 month lease are 0.15% and 58%.

    When negotiating your lease on this truck, make sure to take advantage of the $1,600 cash incentive that is currently available on leases of it through Ally.

    The lease rates on the '11 Traverse LTZ AWD are exactly the same, but its residual values are 1% lower.

    Car_man
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  • Here you go, BonsaiGreg. Ally's November base lease rate and residual value for a 36 month lease of a 2011 Chevrolet Traverse LS AWD with 12,000 miles per year are 2.0% and 56%, respectively.

    The numbers for an otherwise identical 48 month lease are 3.4% and 48%.

    There's a $1,600 cash incentive on leases of this truck through Ally.

    Car_man
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  • Hi..based on the incentive and purely from finance perspective does it make sense to lease or purchase this car....

    Also can someone pls post the lease rates for the AWD SLT1/SLT2 ....for 12K miles....please..! thanks...
  • Car MAN! can you pls help post the lease rates for Traverse 2011 AWD for LT1 and LT2 trims. i am looking to lease on in couple of days...thank you!
  • Carman - I also need lease rates for 2011 AWD LT1/LT2 - 15k/yr.
    Also - when you provide cash incentives for Ally or other financing - is that something the dealer should know or is it done outside the dealership?
  • Hey dollar_pound. General Motors' lease program on the Traverse is fairly attractive right now. Then again, so is its financing offer of 0% fir five years plus a $1,500 cash incentive. If I was in the market for this model right now, I would be perfectly happy going with either of these programs.

    They certainly are more attractive than paying cash or financing through an independent bank and going with the straight $2,000 consumer cash.

    Ally's December base lease rate and residual value for a 36 month lease of a 2011 Chevrolet Traverse SLT1 AWD with 12,000 miles per year are 2.0% and 54%, respectively.

    The lease rate for the SLT2 AWD is the same, but the residual value is 1% lower.

    When negotiating your lease on this vehicle, make sure to take advantage of the $1,600 cash incentive that is currently available on leases of it through Ally. GM is waiving the first month's payment on leases as well.

    Car_man
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  • Hi tagalong. The dealer is well aware of what the lease programs for this model are like. The F&I manager at the dealer usually puts together the details.

    Please see my previous post for the information that you're looking for. Ally's 15,000 mile per year residual values are 2% lower than its 12,000 mile per year resids.

    Car_man
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  • car man! thanks. You say"When negotiating your lease on this vehicle, make sure to take advantage of the $1,600 cash incentive"

    Is this 1600 available in addition to the 1500 cash incentive on leases.

    OR IS the 1500 only available on purchase.
  • I am thinking about purchasing or leasing a 2011 chevy Traverse 2LT AWD or LTZ AWD.

    I set out for my local dealership in NJ today and after much negotiation was offered a 39month lease with 15k mi per yr lease option for $450 per month. This required me to put down $2000 + they were giving me $3000 for my used 1999 Range Rover with 130,000 miles. MSRP on the 46,000. Does this sound like a good deal? They claimed they were giving me the car for $40,000 + I would receive a $1600 lease incentive from US Bank.

    I pretty much am thinking I would prefer to lease as our family is rather hard on our cars and always seem to want to get rid of them after 3yrs. I also want to keep our payments around $450.

    Appreciate your help.
  • This seems like a good deal! Much better than ally, you can check ally rates directly on their website..does the 450 include taxes?
  • i was quoted $534 inclusive taxes on lt1 after 1K down payment. with aftermarket navi, including taxes. MSRP is about 39825 and selling at 36892 for residual 52 and 2% lease rate...the finance guy at the dealer is very helpful. was wondering if this was a good deal or does purchase sound better at 0%.
  • smokeyfx4smokeyfx4 Posts: 1
    edited January 2011
    Hi Car Man

    I'm thinking about leasing 2011 Traverse LTZ FWD with the following option

    White Diamond Paint
    Nevi with back up camera
    Rear seat console
    Cargo net option

    MSRP of $41865

    Dealer is quoted me $650/month for 39 month lease with first month and security deposit...

    I know this is not a good deal but what will be the best deal can I get on this vehicle? and what are the current Incentive and residual value for this particular vehicle. I'm in Houston, TX

    Thanks
  • amj05amj05 Posts: 4
    CarMan:

    I'm interested in leasing a 2011 Chevy Traverse AWD SLT2 (including rearview camera, which I think means I have to get navigation - not cool that they swindle you into that, but so it goes...). Can you please tell me the money factor and residual rate for the 2011 Chevy Traverse AWD SLT2 for January? I only need 12K miles per year. What other incentives should I be including in my lease calculation, if any? Also, if you know, what lease prices have others been able to get on this car, model and trim in the NY metro area.

    I'm also interested in the GMC Acadia - not sure if it or the Traverse is the better car. Can you provide me with the same lease info I request above, but for the Acadia (with trim similar to the trim I want for the Traverse).

    Many, many thanks. And Happy New Year!
  • asudvlasudvl Posts: 4
    CarMan,

    Could you please post the current residual
    and money factor for a 36 or 39 month Traverse
    LT/1LT lease?

    What are the current lease incentives
    on this vehicle?

    Lastly, what would be a fair adjusted cap cost?

    Thank you!
  • No problem dollar_pound. GM's cash incentive on leases through Ally is now $1,300. The normal $2,000 consumer cash incentive that GM is providing on the 2011 Traverse is not compatible with its special lease program, only on purchases.

    Car_man
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  • Hi smokeyfx4. It's difficult to tell exactly how good a deal this is without knowing what this car's selling price is in relation to either its MSRP or dealer invoice price. If I was in the market for a Traverse right now, I personally would shoot for a selling price of around $500 over invoice minus any available cash incentives. General Motors is currently providing a $1,300 cash incentive on leases of this car through Ally.

    Ally's current base lease rate and residual value for a 39 month lease of a 2011 Chevrolet Traverse LTZ FWD with 15,000 miles per year are 2.0% and 49%, respectively.

    Car_man
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  • Hi amj05. Ally's January base lease rate and residual value for a 36 month lease of a 2011 Chevrolet Traverse SLT2 AWD with 12,000 miles per year are 2.0% and 53%, respectively.

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

    When negotiating your capitalized cost for this lease, make sure to take the $1,300 cash incentive that GM is currently providing on leases of this truck through Ally into account.

    The numbers for an otherwise identical lease of a 2011 GMC Acadia SLT2 AED are 2.45% and 51%. GM is providing a $2,000 cash incentive on leases of this truck through Ally.

    Car_man
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  • Greetings asudvl. Ally's current base lease rate and residual value for a 36 month lease of a 2011 Chevrolet Traverse 1LT AWD with 15,000 miles per year are 2.0% and 53%, respectively.

    The numbers for an otherwise identical 39 month lease are 2.0% and 51%.

    General Motors is currently providing a $1,300 cash incentive on leases of this truck through Ally.

    If I was in the market for a Traverse right now, I personally would shoot for a selling price of around $500 over invoice minus the aforementioned cash incentive.

    Car_man
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  • LT1, Chevy Traverse, MSRP 37325. Selling Price:34392 + 816 (running boards etc)+629 smart protect=35841
    residual is 19409 after 39 months.
    rent charge is 1792
    12K miles a year, 39 months.
    Signoff amount 1850 (includes 1st month, gmac admin fee,doc fee etc)
    Total: 448 a month including taxes.

    Car man, is this a good deal i got into...thanks!
  • Hi CarMan – Can you please lend your expertise/advice in reaction to this dealer response to my sales inquiry? The vehicle is a 2011 AWD Traverse LTZ … THANKS A TON!

    Dealer Response:

    Yes, my offered price of $38,604 includes all dealer discounts and rebates. The MSRP is $42,150. The invoice of this particular vehicle is $40,603.8, of which I just rounded up to keep it simple and the $2000 rebate being offered for a purchase. I am more than happy to show the invoice to you if you wish it.

    To do a lease through GM, you have a security deposit of $600, your first month's payment, and a $795 acquisition fee that is included in every lease. You also have a $150 license fee, $71.75 for registration, $12.12 permit, $299 doc fee, $5 tire recycling fee, and a $299 vehicle theft registration. All of these fees were included into what we did and we showed you that you had put a down payment to cover these fees. That may be where you are not making sense of the numbers. If I reverse this and took your down payment out and actually had you put a down payment of $2,037.83, then your payment would be $553.96.

    Your residual is still $21,918, your lease rate is still 2%, your lease ending value is still based at 52%, and your term is still at 39 months. I did forget to mention that on a lease, there is only $1,300 in rebates that can be used for this lease. That might also make a difference in your figures as well.
  • tlb5tlb5 Posts: 35
    gchristo, what state are you in man? in CA you can look up on the DMV website what your fees will be. doc fee = profit and is legally limited to $55 in our state. what the hell is a vehicle theft registration?
  • amj05amj05 Posts: 4
    Thanks, Car_man!
  • Probably window etching of the VIN. It's a total rip off. Any dealer that included this in their quote would instantly lose my business. What's next, "tire inflation fee"???
  • Hi Car Man - Have their been any changes to the base lease rate, residual value and factory/dealer incentives (for a 36 or 39 month lease of a 2011 Chevrolet Traverse LTZ AWD with 12,000 miles) for February?

    Thank you.
  • Hey dollar_pound. The Traverse that you're interested in probably has a spread of around $1,700 between its full MSRP and its dealer invoice price. On top of that GM is providing a $1,300 cash incentive on leases of this truck through Ally. That gives you a total of around $3,000 to play with during your negotiations. That's pretty close to the discount that you were quoted. This looks like a good deal to me.

    Car_man
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  • Hi gchristo. Dealer invoice minus any available cash incentives is an attractive selling price. The lease rate that you were quoted is right on the money as well.

    The doc and theft registration fees are fluff, but this still isn't a bad deal. Of course, one can debate whether the Traverse is worth $550 per month, but for this vehicle this deal looks pretty good.

    Car_man
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  • Carman,

    Do you have the current 24/27 month rate and residual with 15k miles per year for the Traverse 1LT AWD and LTZ AWD?

    Thanks
  • webbcrawlerwebbcrawler Posts: 2
    edited February 2011
    Carman,

    Do you have Feb lease numbers for 36 months 15 k miles for a LT2 FWD?

    Thanks
  • I sure do rman850r. Ally's current base lease rate and residual value for a 24 month lease of a 2011 Chevrolet Traverse 1LT AWD with 15,000 miles per year are 0.15% and 60%, respectively for consumers who qualify for its top credit tier.

    The lease rate for an otherwise identical 27 month lease would be the same, but the residual values would be 2% lower.

    The lease rates would also be the same for the LTZ AWD, but its residuals are 59% for 24 months and 57% for 27 months.

    When negotiating your lease on this truck, make sure to take advantage of the $1,300 cash incentive that is currently available on leases of it through Ally.

    Car_man
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  • I sure do webbcrawler. Ally's current base lease rate and residual value for a 36 month lease of a 2011 Chevrolet Traverse LT2 FWD with 15,000 miles per year are 2.0% ad 50%, respectively.

    When negotiating your lease on this truck, make sure to take advantage of the $1,300 cash incentive that is available on leases of it through Ally.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
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