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GMC Terrain Lease Questions

kyfdx@Edmundskyfdx@Edmunds Posts: 25,965
Ask your Terrain lease questions here!

Moderator - Prices Paid, Lease Questions, SUVs

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  • First, is GM leasing again and what would a fair price be for an AWD SLT-2 Terrain. No money down, 15,000 mi per year. I'm in Cincinnati.
    Thanks.
  • Welcome cintiwestguy. Yes, General Motors has resumed leasing on select models. I would be happy to work up a sample lease payment for you using GM's actual current lease program, but I am going to need some additional information from you first.

    Specifically, I need you to provide me with the full MSRP and approximate selling price of the Terrain that you want...or at least its MSRP and dealer invoice price. You can look up this data over in the New Vehicle Pricing section of this site.

    Car_man
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  • Hi, I am considering leasing a new 2010 Terrain SLE-1 (least expensive model) and I was wondering what kind of payments I could expect.

    The TMV pricing report lists the MSRP (including destination charge) at $24,995 while the invoice is $23,661. However, the TMV price is $24,995 for my area (southern california).

    GMC is also currently offering $1500 in incentives on the terrain ($500 (waiving 60 day trial period) + $1000 ("conquest" - customer with 1999 or more recent non-GM car/truck)). Can these incentives be used to lower the net cap cost for calculating the lease?

    What sort of payment can I expect for a 36 month lease with 12k miles a year? What is the current money factor and residual GMC is offering on the terrain?

    I know that it is better to put less down if possible, but I also want manageable payments. Therefore I am willing to put some money down if necessary.

    Thanks!
  • Hey all, I was quoted a residual of 46% and a money factor of .0011 on a SLT1 V6 AWD w/programable liftgate. Any one else get a better residual?
  • Hi socallessee. I believe that both the $1,000 conquest cash and the $500 bonus can be used on leased Terrains. GMAC's current base lease rate and residual value for a 36 month lease of a 2010 Terrain SLE-1 2WD with 12,000 miles per year are 2.35% and 46%, respectively.

    I would be happy to work up a sample lease payment on this truck for you. For now I will assume that you will be able to negotiate a selling price of $500 over invoice minus the aforementioned incentives.

    According to my calculations, if you were to lease a 2010 GMC Terrain SLE-1 that has an MSRP of $24,995 and a capitalized cost of $23,161 through GMAC right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $425.

    Car_man
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  • Hi Justin. GMAC's current base lease rate for a 36 month lease of a 2010 GMC Terrain is 2.35%. That is equivalent to a money factor of around 0.00098.

    Car_man
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  • Can anyone decipher what this car salesman is saying. To put it in context, I was quoted a MF of .0011 roughly 2.65% on the Terrain. According to Car_man it should be 2.35% from GMAC. I know it's not that big of a difference but just read this guys explanation:

    Justin, due to the area we are in GMAC has deferred all leases to US Bank, and the "sub-vented" lease factor (by GM) for the Terrain is well below the published interest rate you mentioned. The bottom line is that the lease rates in this area are better than what GMAC is offering elsewhere.

    So if I'm being quoted 2.65% how is 2.35% better??? Am i misreading this some how?
  • Sorry I just read my last statement. It should say how is 2.65% better than 2.35% obviously
  • Hi justin3687. GMAC's base lease rate for a 36 month lease of a 2010 GMC Terrain was 2.35% in October. It's new November base rate for this truck is 2.65%.

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

    I'm looking to lease a GMC Terrain for my wife, the 2010 SLE 3.0L AWD, what are the December and January leasing terms being offered by GMAC?
  • Carman,

    What is GMAC's current lease rate and residual value for a 36 month lease of a 2010 Terrain SLT-2 2WD,15,000 miles per year in South Florida?

    If you can calculate the estimated monthly payment, the MSRP is $30,190, Invoice $29,292 and I am assuming $1500 factory incentives.

    Thanks in advance!
  • On Monday I test drove the Terrain AWD after looking to purchase either a Honda CRV, Chevy Equinox or the GMC Terrain. As a single mom I have only paid cash for the past several years inlcuding paying $30,000 cash for my current car a 2004 Land Rover Freelander...yes I know...poor choice of car. Due to my lack of credit usage I was told to get a co-signer in which my mother agreed to. Her credit score was an 820 and I was quoted the following: MSRP $26,800 sale price $25,100 less my trade of $5500 for 48 months for $288 monthly with a residual of 38% and a lease rate of 3.2%. The lease end value is $12,663 with 12,000 miles yr. I have no idea if this is a poor residual rate. Does this mean I would owe $1387 at the end of the 48 months? I believe it was also .15 cents every mile.Does anyone know what GMC charges for depreciation for normal wear and tear at end of lease? Thanks for your help! P.S. I had no problem with leasing thru Honda and was in their 2nd tier(Preferred-not Super Preferred) & did not need any co-signer.
  • Carman,

    What are the current residuals and money factor for GMC Terrain SLT-2. 39 months, 12,000 miles.
    Thanks
  • Hi cosmedent. Here's the information that you're looking for. GMAC's current buy rate lease money factor and residual value for a 39 month lease of a 2010 GMC Terrain SLT2 4WD with 12,000 miles per year are 2.65% and 42%, respectively.

    When negotiating your lease on this truck, make sure to take the $400 cash incentive that General Motors is currently providing on leases of it through GMAC into account.

    Also, this lease program is only scheduled to run through today, February 1st. I would be happy to provide you with an update on what the new program is like if you check back with me in a couple of days.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • j13ntvj13ntv Posts: 7
    edited February 2010
    Hello Carman,

    I was looking for the current rates for the 2010 Terrain SLT 2 AWD, 36 and 39 months, 12,000 or 15,000 miles, as you mentioned the current program ended back on Feb 1st. As well, any new incentives?

    Thank you
  • Hi Car_Man,

    Please provide March's residual and money factor for a 2010 Terrain SLT2 with 12000mi/yr, as well as, an SLT1 with the same mileage.

    Thank you!!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hello j13ntv. 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 GMC Terrain SLT2 AWD with 15,000 miles per year are 2.8% and 43%, respectively.

    The numbers for an otherwise identical 39 month lease are 2.8% and 40%.

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

    Unfortunately, General Motors is only providing a cash incentive of $250 on leases of this model through GMAC right now. I guess that it's better than nothing.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi nickdetomaso. Please see my previous post for the lease program for the SLT2. The numbers for the SLT1 are exactly the same.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • 0314kms0314kms Posts: 2
    Went to a local Western Pa. dealer. Terrain SLE 2 with heated seats and dvd system, white (is it really easier to keep clean?) with black interior, convenience package, remote start..$30,180. Wanted to buy, would only take $500 off MSRP. Nothing to trade coming off a Mazda lease. 39 months, will give an extra $250 off. 15,000miles with a mo. payment of $570.34. 42% residual ($12,+ at end of lease).

    If I buy 5.5% with monthly payment of $610.00. The salesman said GMC price for employees is $29532, but wholesale # at bottom of page read $27,953. What is the difference on these numbers? Good deal on the lease? What would be the downside on lease because I want to keep this car after 39 months?
  • cruiser54cruiser54 Posts: 5
    What are current money factors and residuals for a GMC Terrian at 36 months and 15k a year.

    Thanks
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