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Chevrolet Traverse Lease Questions

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  • chris0076chris0076 Posts: 11
    I spoke to the lease manager @ my local Chevy dealer and he confirmed that based on the appraisal @ the end of the lease and the residual the customer is entitled to the difference which they could use as a down payment or be given a check and just walk away. Since my 2010 has extremely low mileage and is in mint condition, he told me currently I could be looking @ around $2,000. I just wanted to see if other GM dealers would have a higher appraisal.

    Edmunds itself states customers could have equity in their lease cars.
  • db05db05 Posts: 1
    I have a deal at a Chevy Dealer for a Traverse 2LT with moon roof and leather seats. The MSRP is 41,340 and the final price is 37,165. They offered me a lease at 387 a month with $8,300 down for 36 months, 15k a year mileage with a buy at $23,151

    The 8,300 seems like a large down-payment on a lease. Can someone help me out? Is this a good deal.
  • Hey I got a deal for the same exact car 387/mo but with $3,095 down including 1st month payment, taxes, fees from Exotic Motor World in New Jersey.
  • chris0076chris0076 Posts: 11
    With no GM pull Ahead Program available I am considering paying off my last 4 lease payments.

    I would like to lease another 2014 Chevy LTZ Traverse before fall.

    The current incentives end 09/03/13 and I don't know what the new incentives will be.

    Would it be wise to do this now or should I wait and see what the new incentives will be first?
  • mr300eclassmr300eclass Posts: 9
    edited July 2013
    I brought home a fully loaded MSRP $49,540 2014 Chevy Traverse LTZ and got an amazing deal! I priced this car at 12 different dealerships and none could even come close!!

    Since this was a 2014 there is really no Chevy incentives except the $500 cash back!

    I am not a sucker and I stood my ground and told all 12 dealerships this is the only deal I would make.

    Anyway here is my deal!

    I got OVER 5 thousand off sticker. My lease paperwork shows I bought this car for $44,000. I leased it and with 15k miles per year and a residual value of 58% and $3000 total cash out of pocket that was applied to my NJ taxes, first month payment and all dealer fees, license plates etc.

    The GM even bought my family dinner and told me to only give him $2,830 and to keep the other $170 for a steak dinner on him!

    WOW!!!! All other dealerships the other 11 were just greedy and stupid and would rather make nothing then move a car!!

    Veh MSRP $49,540 (fully loaded)
    36 MONTH lease
    $2830 total cash out of pocket
    15K MILES per year
    $459 month payment
    Financing through ALLY (800 credit score)
    Deal was done on July 23, 2013

    No back door fees and a deal that 11 other greedy dealerships could not touch!!!
    All reading don't be a sucker and stand your ground and tell
    the dealerships where to go if they don't like your numbers and what you want to pay!!!

    Dealer ships always make money and don't believe the stupid invoice prices and dealer incentives are just extra money dealerships pocket!

    Invoice prices are no where near what a dealer pays for that car!!

    I read some of you got suckered into 39 months or putting more then $5000 cash down these are signs of you being taken from Behind!!

    You should always stick to a 10% off MSRP price to negotiate your deal. $50,000 car $5000 off sticker, $30,000 car $3000
    Off sticker!!

    I have been leasing cars for 15 years and this has always worked for me!!!
  • chris0076chris0076 Posts: 11
    That is an amazing deal. I have only dealt with 3 different dealerships on leasing a Chevy Traverse LTZ ( and @ all 3 dealerships are telling me I would need at least 5 to 6000 down on 48 month lease @ nearly $500 per month. Plus the LTZ I wanted was not fully loaded (MSRP 45,000) . How did you do it?

    I need your expertise fast

    Thanks
  • mr300eclassmr300eclass Posts: 9
    edited July 2013
    Hi, I stood my ground!!! Dealerships are very desperate right now. Look at all the car commercials on TV. I know most dealerships will give you and push a deal on a 2013 because of the money rebates available from GM.

    Out of the 12 dealerships, only one other came close to this deal. That dealership offered me a similar deal but at $479 on a 2014 TRAVERSE LTZ with a MSRP of $48,700. It did not have the hit to road package and all weather resistant mats..

    They would not budge on the $479 and they had 10 2014 Traverse LTZ in stock!!

    That is the funny thing!!! 10 of these in stock and another dealership with only one in stock with a higher MSRP BEAT their deal !!

    Also the other dealership wanted to use US bank which I heard has back door fees and microscopes the car when you return it!!
  • chris0076chris0076 Posts: 11
    When you say you stood your ground was it the:

    Monthly lease price?
    Money Down?
    10% off MSRP?

    or all 3?

    You are right about them pushing the 2013 but I really want the 2014!
    My only options were the Navigation system and sunroof.
    Not too many dealers here in Pittsburgh have any 2014 in stock
  • mr300eclassmr300eclass Posts: 9
    edited July 2013
    Stand your ground!!!! Find out what the real invoice price of the vehicle you choose is!! Like my car MSRP was $49540 and my Invoice price was $46297. Once you know the true invoice price of vehicle alway negotiate the deal to get the vehicle for $2000 under invoice!!! This is really easy to do but 2014's just came out and most dealerships are just plan greedy and will wait for a sucker buyer!!

    This deal that I got will be super easy to get at the end of November!!! Reason being the greedy dealerships will have plenty of rebates to still line their pockets with!!!

    But if you need this car now, try to wait for Sept. 4 when a new program will be out with some extra dealer cash and plenty of these Ltz will be available!!
  • mr300eclassmr300eclass Posts: 9
    edited July 2013
    The funny thing I did when i brought my new baby home was emailed the 11 dealerships that lost in selling me a car and told me they could not come close to my deal, I sent pictures of my new car, a picture of my window sticker and a picture of my lease agreement contract with all important #s and told them all to where to stick their cars and deals offered to me!!!

    I loved sticking it in their rear after they cried the deal I was asking for was impossible!!!
  • Can someone twll me the residuals, money factor and current incentives for leasing a traverse right now?
  • Most dealerships incentives would be how far you can bend over!!! Residual value is 58% with 15k which is not bad!!

    There is only $500 cash back on 14's at this time!!

    You tell them what you want to pay and if they don't like it tell them to lick your balls!!

    Worked for me!!!
  • mr300eclassmr300eclass Posts: 9
    edited August 2013
    Car places always make money and they always cry poverty!! Always find out veh invoice price and tell them you want them to work out the numbers with the veh $2000 below invoice price!!

    What ever they sticker price is, take 10% off and and that is the number to work out your deal to!!!

    If they do like it too bad!!!

    Go from dealer to dealer and one will be sure to bite!!!
  • Btw this car is really nice but has horrible gas millage!!! Like 12 mpg!!! That is my only compliant so far!!!
  • kavtilkavtil Posts: 1
    Please tell me the name of the dealership in NJ. I live in NY and this is the exact car I want at the same price.

    Thank you
  • I'm looking for a LS AWD.

    The current offer on the Chevy website is:

    245/month, 36 months, 4227 due at signing, 15,000 per year, at $33,370 MSRP... this is basically a $362/month payment with no money down.

    If the equivalent invoice price is $30,385 after a $1,500 factory rebate and dealer discount, what would you want your monthly payments to be assuming no money down?

    Thank you so much!
  • mr300eclassmr300eclass Posts: 9
    edited August 2013
    bottom line you are getting taken like the movie!!!. tell the dealership the only deal you will make is him knocking $5000 off sticker and you will be only putting $2000 down toward your taxes, first payment and all dealer fees.
    You want 15K per year a 36 month lease and will only pay $299 a month.

    This is a 2013 and the dealer is making a ton of back door money to get rid of these basic trashy models. So many basic model 2013 LS are around and if you go to at least 10 dealerships one will be sure to take this as your final offer.

    Remember all dealerships are just trying to rear end you! You tell them what you want to pay bottom line.

    I did look at a 2013 LTZ AWD Fully loaded with a MSRP of 47K and with $3000 down and 15K per year 36 month lease the dealer would have done the deal for $368 a month.

    Just remember you will always get screwed no matter what deal you make!!

    saddle up!!!
  • Thanks! The deal I listed is their advertised internet special, but it was still based off of MSRP so I figured there was still a good amount of wiggle room. The first dealer I went to told me that the invoice rate was only $700 under the MSRP so I shouldn't even bother negotiating. Needless to say I'll be finding a new dealer. :)

    Side note: I live in Oregon so we don't have a sales tax thankfully.

    I was guessing (because I don't exactly know how to do the math), that something at $0 down, $329 a month would be doing the deal "near invoice". Is that an acceptable offer? Good? Bad? Ugly? If money down is required then I'd just take it straight off the monthly payments.

    Any idea??
  • Leased 2014 Traverse LTZ last week had 10 miles on it. Pittsburgh, Pa

    Turned back in leased 2010 LT1 Traverse 17500 miles only options were rearview camera and steps.

    Options on 2014 were:
    My Link Navigation System
    Black Metallic Color
    Hit The Road Package
    Chrome Steps
    Cargo Convenience Package(included Cargo Security Shade)

    No Money Down/39 months
    MSRP $45,147
    CAP Cost $41,944
    Rebates $1420
    Lease Payment $404
    Annual Mileage 10,000 miles
  • mr300eclassmr300eclass Posts: 9
    edited August 2013
    You got a good deal as long as you don't put on a lot of
    Miles. 10k a year would not work for me. My last leased car was a honda and I had 15k miles per year and still went over by 7k miles at end of lease. Honda is awesome and ate $1100 worth of those miles and I only had to pay $700!!

    I don't think GM would do that!! I almost bought a pilot touring but liked this truck better!!! Onstar is cool with phone app! But after they 6 months onstar will try to hit you with crazy fees to continue!

    Does anyone know about the tow hitch package.. I got a hitch package and I got a wire in my glove box that does not fit into anything.. I did not
    Get a wire that can fit the socket next to hitch. Anyone get this wire!!
  • I retired a few years ago so I don't drive that much.

    As you can tell by the Traverse I turned in with only 17,000 miles and nearly 4 years old.

    I would have had less than that but I took a road trip to see my son in Florida and that accounted for nearly 3,000 of the miles.

    I really like the Traverse for it's handling and smooth ride. First time I have ever bought the same vehicle back to back in over 50 years of buying cars.
  • Well that's a pretty good testament to the Traverse!

    Anyone have any idea if a $329/month, $0 down 36 month lease on a LS AWD is a good buy? Or should it be less? It has an invoice price of $30,385 after the $1,500 factory rebate.
  • I forgot to add that when I turned in the 2010 they wrote off my last 3 lease payments
  • strider_gtsstrider_gts Posts: 5
    edited August 2013
    I would LOVE to quickly know the current residual rate on a 2013, AWD LS if anyone knows it!

    Thank you so much!
  • chris0076chris0076 Posts: 11
    edited August 2013
    Don't know the rate on the LS, but my 2014 LTZ was 56% that was for 39 months. It will depend on the number of months your leasing for. The longer the lease the smaller the %
  • Do you think this is accurate?

    http://www.automobilemag.com/am/99/2013/chevrolet/traverse/ls_sport_utility/1015- /rebates.html

    58% residual at a 1% apr?

    I had no idea how much residual rate affected your monthly payments until I played with this calculator:

    http://www.leaseguide.com/calc.htm
  • That appears to be in the ball park. I just looked @ my 2010 Traverse LT1 lease agreement which was for 48 months and my residual was 39%. That was in Jan. 2010.
  • fatslopfatslop Posts: 1
    edited September 2013
    Hello, does anyone know of current (as of 09/05/13) lease residuals and rates on both 2013 and 2014 AWD Traverse 2LTs? I am just starting the process today and although the 56% residual (36 month/36K miles) I have been quoted seems reasonable the money factor rate of 3.18% does not (for someone with excellent credit at least). I am looking at a 2LT with an MSRP of $44,400. Thanks for your time.
  • kyfdxkyfdx Posts: 31,103
    I'm sorry... we don't have the September lease numbers for GM..

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Hi CarMan,

    Can you please tell me the residual and money factor on the 2014 Traverse LTZ @ 12k miles per year? Any incentives going on? Thank you!
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