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GMC Terrain Lease Questions

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  • You're very welcome, spridell.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • We are looking at a lease or a purchase of a new 2011 GMC Terrain and I started negotiations with the following deal. I am curious to see how much better we can get and where, price, mf, total oop, res, etc.

    Here are the details:

    2011 GMC Terrain SLT-2
    3.0L V6, Flex Fuel
    Cargo Management Package
    Audio System with Navigation Package
    Trailing Package

    Negotiated Purchase Price with destination charges less discounts = $33,166.69

    Lease deal is as follows:

    MSRP: $34,635
    48% Res
    Lease-End $16,624.80
    Selling Price $33,166.69
    Rebate $750 - USAA Members
    Lease APR 3.5%
    Adjusted Cap Cost $33,890.69
    Base Monthly Payment 517.17, with FL sales tax $553.37
    39 months, 12k miles per year
    Total out of pocket at delivery $1,283.86 from $679 smart lease protection, $795 acquisition fee, $400 MV fees, $83 filing fees.

    Car Man or others...what do you think?
  • To follow up to the above post...negoatiated a little further and here is the deal we have agreed to.

    $0 total out of pocket, no start up's at all.
    We are at $514 per month including tax (7% in Hillsborough)

    39 months / 39k miles

    Looks like they are securing the vehicle fully loaded as indicated above.

    I think this is a good deal. I am supposed to sign documents Monday afternoon. If you have any feedback positive or negative please let me know asap.

    Thanks
  • Thanks for this forum. Big help.

    I am in the process of looking for a new car for my wife. We are expecting our 2nd child and need something bigger. Currently she drives a 2005 Volvo V50. We are looking at the Volvo xc70, Cadillac SRX and the GMC terrain. We are interested in a lease as she only drives about 12k per year. I have visited both the GMC and Volvo dealers and both have immediatly shot down the lease idea.

    Long question short, Is there a reason they are so quick to shot down this idea of leasing? Is ther some incentive for a dealer to push a purchase over a lease? I have only ever purchased and never leased so am open to any and all suggestions. thank you in advance or your assistance.
  • kyfdxkyfdx Posts: 27,943
    Great lease deals are usually because the manufacturer has special incentives in place, that reduce the monthly payment.. Either cheap financing, unrealistically high residuals, or dealer or consumer cash..

    In some cases, the manufacturer just doesn't supply any incentives, and the lease payments are high... If a dealer knows his car sells for a decent price, but doesn't have a good lease payment, he is likely to steer you away from leasing, because you are likely to find a competitive model that leases for much less.... I think right now, that would apply to the Terrain and the Volvo...

    The dealer sells a car, either way... either directly to the consumer, or the bank that leases the car to the consumer.. If they are steering you away from a lease, it's probably because the payments aren't competitive with their competition...

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • jmarks2001jmarks2001 Posts: 1
    edited December 2010
    I'd like to know the residual and APR I should expect to get on a 12,000 mile/39-month lease on a 2011 Terrain SLT-1 for the month of December 2010. And if it matters, I'm in FL.

    On a model with the additional Power Rear Lift Gate and Sunroof options, they provided me with an MSRP quote of $29,885. With a $2000 cap-cost reduction (not including first payment), the lease quote came to $461 per month (after 7.5% sales tax).

    My plan is to try to talk them down to Edmunds TMV, but I'd like to have the exact residual and APR so I can do my own calculations before I go in to negotiate.

    Thanks in advance!
  • Hi jmarks2001. Ally's December base lease rate and residual value for a 39 month lease of a 2011 GMC Terrain SLT1 AWD with 12,000 miles per year are 2.5% and 52%, respectively.

    Good luck in your negotiations.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • phortsphorts Posts: 3
    Kali
    Banana Bread
    Car Vacuum

    Wife and I have our first baby on the way and are trading in the Maxima for a more fuel efficent and practical vehicle. Looking at a GMC Terrain (Tried Equinox and Rav4). New to leasing and figured we would go this route to get my wife a new, reliable, safe AWD vehicle for New Hampshire driving and she just loves this car. But, the dealer we visited today nearly crushed our dreams with his quote of $500/mo lease pmnt (and that was 48 Months! Sounds NUTS!) I owe $5400 on my Maxima and KBB says it's worth $2500 in poor condition for trade, so i'm upside down..but still.

    So, we were quoted 50% Residual and didnt catch the Rate factor they were using. It was a 2011 GMC Terrain SLT1 i4 for around $31k.

    They said the new lease rates come out tomorrow (Jan 4th) but they usually dont change much, if at all.

    Any incentives that we should know about? A lot harder than purchasing a car because it's so hard to compare with all factors involved. At least if i know the constants (MF and Res) and I get a good idea on TMV, and some good incentives come out, I'm hoping to negotiate a price MUCH closer to $400/mo. Is that reasonable or should we start looking at other options?

    Thanks for your advice!
  • phortsphorts Posts: 3
    Oops, got some of my To Do list in there! That Banana Bread was tastey though!
  • kyfdxkyfdx Posts: 27,943
    I thought maybe that was a coded message, being left for..... well... wasn't sure... maybe, a Jason Bourne kind of thing... ;)

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Hi,

    This is my first post here. Is it possible to get a 2011 Terrain SLE-2 AWD, MSRP $28,545, for under $400? 12k miles/yr
  • Sorry. With $0 down.
  • beach15beach15 Posts: 1,305
    What are the current rates/residuals on a 2011 Terrain SLT-1 AWD for 36 & 39 month terms, both 12k & 15k? Any other cash available for leases?

    Thanks, this would be in zip 19966.
  • Here's the information that you're looking for, beach15. Ally's current base lease rate and residual value for a 36 month lease of a 2011 GMC Terrain SLT1 AWD with 15,000 miles per year are 1.15% and 50%, respectively.

    The numbers for an otherwise identical 39 month lease are 1.15% and 48%.

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

    I don't believe that General Motors is currently providing any cash incentives on leases of this truck through Ally.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • cdilcdil Posts: 5
    Hey Car_man can you provide Ally's latest rates (residual & money factor) for a SLE-1, 39 mo, 12k miles?

    Thanks!
  • rosenbj1rosenbj1 Posts: 11
    Hi Car_Man,
    I'm looking to lease a Terrain SLT-1 model with RWD and 4-cyl (if I can find it - they seem hard to come by). I'd like a 36 or 39 month lease, at 12k per year. Could you post the residual and money factor at this time for this model and lease? If it makes a difference, I'm in NJ. Thanks so much.

    -Jon
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey cdil. Ally's March base lease rate and residual value for a 39 month lease of a 2011 GMC Terrain SLE1 AWD with 12,000 miles per year are 1.15% and 50%, 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 lease on this truck, make sure to take the $500 cash incentive that is currently available on leases of it through Ally into account.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to help you out, Jon.

    Ally's March base lease rate and residual value for a 36 month lease of a 2011 GMC Terrain SLT1 RWD with 12,000 miles per year are 1.15% and 49%, respectively.

    The numbers for an otherwise identical 39 month lease are 1.15% and 47%.

    As I mentioned in the previous post, there is a $500 cash incentive on leases of this truck through Ally.

    Not that it's any of my business, but with all of the snow that you got on the East Coast this winter why are you interested in getting the RWD over the AWD model? I personally would go with AWD.

    Car_man
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  • rosenbj1rosenbj1 Posts: 11
    Car_Man,
    Thanks for the info.
    Regarding the AWD vs FWD (sorry not RWD on this SUV), I'm a bit jaded from past experiences. I've found features like traction control and ABS far more helpful than AWD. Had a Subie Outback some years back that got quite well stuck in a post-snow mud bank-- needed a winch to get it out!
    Just FYI, I'm comparing lease numbers and prices between the Terrain and Equinox, so I'll post my Equinox lease question over on that forum-- thanks in advance.
    -Jon
  • psywzrdpsywzrd Posts: 30
    Car_man:

    Can you please post the money factor and residual on an AWD SLT-2 on a 36-month lease with 12,000 miles per year?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi psywzrd. Ally's current base lease rate and residual value for a 36 month lease of a 2011 GMC Acadia SLT-2 AWD with 12,000 miles per year are 0.3% and 51%, respectively.

    Car_man
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  • psywzrdpsywzrd Posts: 30
    Car_man:

    Can you please post the April lease rates (MF and residual) for an SLT-2 on both a 36-month lease and a 39-month lease (both at 12,000 miles per year)?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to psywzrd. Ally's current base lease rate and residual value for a 36 month lease of a 2011 GMC Terrain SLT2 AWD with 12,000 miles per year are 1.15% and 49%, respectively.

    The numbers for an otherwise identical 39-month lease are 1.15% and 47%, respectively.

    When negotiating our deal on this truck, make sure to take advantage of the $500 cash incentive that is currently available on leases of it through Ally.

    Car_man
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  • atc8524atc8524 Posts: 1
    Car_Man

    I'm interested in leasing a SLT-2 window sticker of 32,795. I have a trade in that I'm "upside down" on by 4,000-5,000 depending on what they will give me. Anyway I wanted to keep my payment down to mid 400's with 1,000-1,500 down. Do you think that is even possible?? Or I am just wasting my time? I know they want to give me the least amount possible from my car and this add a wrench into my ability to negotiate on the terrain. Thanks for your help!!

    ATC8524
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi atc8524. I have a feeling that your target payment is a target payment is a little optimistic. At dealer invoice minus incentives, you're looking at a payment of around $430 without any negative equity. Adding $5,000 in negative equity to that would increase the monthly payment by $150 per month. And we haven't added sales tax yet.

    Car_man
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  • jaffmanjaffman Posts: 33
    wondering what kind of lease deals anyone is getting out there, especially in/near ny, for slt-2 2011, 36month lease or so, ?

    is it realistic to try to negotiate an slt-2 2011 10kmiles/yr 36month, zero down, all costs into monthly payments for less than 500/month?

    thank you for any help.
  • 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?
  • Car_man, could you kindly provide the residual and money factor for the Terrain on a 36/15k? Are there any current incentives for September? All the best to you!
  • Hi jerzey. Ally's current base lease rate and residual value for a 36 month lease of a 2012 GMC Terrain SLE1 4WD with 12,000 miles per year are 1.15% 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.

    General Motors is not providing lease support on the 2011 version of this truck any longer.

    Car_man
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  • Thanks driversedge. Please see my previous post for an idea of what this truck's current lease program is like.

    I don't believe that General Motors is currently providing any cash incentives on this model.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
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