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GMC Terrain Lease Questions

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  • MichaellMichaell ColoradoPosts: 12,939

    Michaell said:

    Can you please share:

    24mo/10k mi/yr residual & money factor
    24mo/12k mi/yr residual & money factor

    Any incentives that stack on top of the $1,300 lease incentive here in SoCal? I am not a GM vehicle owner but I do have a competitive lease.

    Which trim level? AWD or FWD?

    Use the "Car Research" tab to link to current customer incentives. We only know about the lease cash.
    FWD
    I answered in the other Equinox thread you posted in.

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  • GM had a TV Ad for $199/mo Terrain SLE1 lease with only $239 due at signing but I can't find this offer online. Online it says $2529 due at signing. Anyone else see the Ad or know where to find it?
    ·
  • Picked up an SLT-1 Terrain today in SoCal

    MSRP $35,420 with v6, Chrome package, Navi
    $3,000 Dealer discount
    $1,500 Conquest
    $750 Bonus lease cash
    $1,300 lease cash
    $3,000 gm card bonus

    24/10 lease thru GM Financial (dealer claimed Ally is no longer an option)

    $595 acquisition fee
    0.000876 money factor (not sure why it didn't agree with what was provided here)
    70% residual

    Sign and drive. $158/mo plus tax

    Thank you for the help and to the community! It was a very difficult process as the dealers try to bait and switch, mark up the money factors, differ on residuals, include secret add ons, etc. Luckily we have about 50 GM and Chevy dealers around here so I drove to an honest one that was really looking to move a car.  
    ·
  • MichaellMichaell ColoradoPosts: 12,939

    Picked up an SLT-1 Terrain today in SoCal

    MSRP $35,420 with v6, Chrome package, Navi
    $3,000 Dealer discount
    $1,500 Conquest
    $750 Bonus lease cash
    $1,300 lease cash
    $3,000 gm card bonus

    24/10 lease thru GM Financial (dealer claimed Ally is no longer an option)

    $595 acquisition fee
    0.000876 money factor (not sure why it didn't agree with what was provided here)
    70% residual

    Sign and drive. $158/mo plus tax

    Thank you for the help and to the community! It was a very difficult process as the dealers try to bait and switch, mark up the money factors, differ on residuals, include secret add ons, etc. Luckily we have about 50 GM and Chevy dealers around here so I drove to an honest one that was really looking to move a car.  

    Wow - fantastic deal! Amazing that all the incentives stacked as they did - $9500 off sticker.

    What lease term and how many miles?

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  • Michaell said:
    Wow - fantastic deal! Amazing that all the incentives stacked as they did - $9500 off sticker. What lease term and how many miles?
    24 months
    10,000 mi/ yr

    It would have only reduced the residual by 2% to get 15,000 mi/yr but I just don't drive much. 
    ·
  • Michaell,

    Any idea where they got the money factor of 0.000876 from? They swore to me that they didn't mark it up, but you said it was either 0.00055 or 0.0007 (1.32% / 1.7%) with GM Financial.
    ·
  • MichaellMichaell ColoradoPosts: 12,939

    Michaell,

    Any idea where they got the money factor of 0.000876 from? They swore to me that they didn't mark it up, but you said it was either 0.00055 or 0.0007 (1.32% / 1.7%) with GM Financial.

    We only have the GM Financial numbers, but the dealer is free to use other banks to write leases.

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  • Michaell said:

    Michaell,

    Any idea where they got the money factor of 0.000876 from? They swore to me that they didn't mark it up, but you said it was either 0.00055 or 0.0007 (1.32% / 1.7%) with GM Financial.

    We only have the GM Financial numbers, but the dealer is free to use other banks to write leases.
    They said this lease was written with GM Financial. I got conflicting stories from multiple dealers on the official GM Financial rates. Do you know what they are?
    ·
  • MichaellMichaell ColoradoPosts: 12,939

    Michaell said:

    Michaell,

    Any idea where they got the money factor of 0.000876 from? They swore to me that they didn't mark it up, but you said it was either 0.00055 or 0.0007 (1.32% / 1.7%) with GM Financial.

    We only have the GM Financial numbers, but the dealer is free to use other banks to write leases.
    They said this lease was written with GM Financial. I got conflicting stories from multiple dealers on the official GM Financial rates. Do you know what they are?
    24/10 numbers from GM Financial - .00055 and 71%.

    Oh, I see - looks like the dealer marked up the MF to .000876. Which they are allowed to do. Probably to offset some of those hefty discounts you qualified for.

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  • Michaell said:



    24/10 numbers from GM Financial - .00055 and 71%.

    Oh, I see - looks like the dealer marked up the MF to .000876. Which they are allowed to do. Probably to offset some of those hefty discounts you qualified for.

    Thank you. Every Single dealer insisted the residual for the Terrain was 70% and I didn't think they can change that? I also looked at the Equinox and Chevy dealers were 50/50 71% and 70%.

    The internet sales manager and finance gentlemen both promised me that they did not mark up the money factor from the Tier 1 level.
    ·
  • MichaellMichaell ColoradoPosts: 12,939

    Michaell said:



    24/10 numbers from GM Financial - .00055 and 71%.

    Oh, I see - looks like the dealer marked up the MF to .000876. Which they are allowed to do. Probably to offset some of those hefty discounts you qualified for.

    Thank you. Every Single dealer insisted the residual for the Terrain was 70% and I didn't think they can change that? I also looked at the Equinox and Chevy dealers were 50/50 71% and 70%.

    The internet sales manager and finance gentlemen both promised me that they did not mark up the money factor from the Tier 1 level.
    Residual is set by the bank and cannot be modified by the dealer.

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  • dylrexdylrex Posts: 69
    May I please have the numbers for a 2015 GMC Terrain FWD SLE-1 for 24/36/39 and 12K per year? Thank you very much.
    ·
  • kyfdxkyfdx Posts: 33,509
    dylrex said:

    May I please have the numbers for a 2015 GMC Terrain FWD SLE-1 for 24/36/39 and 12K per year? Thank you very much.

    .00055 MF and 70% residual
    .00040 MF and 59% residual
    .00040 MF and 57% residual

    $800 lease cash

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    Prices Paid, Lease Questions, SUVs

    ·
  • Hi, can I please have the residual and MF for a 2015 GMC Terrain SLE1 AWD ? 24 Months and 10K miles a year. Im located in NY. What is the dealer cash this month? Also, is there conquest cash available? If so, how much? thanks !
    ·
  • kyfdxkyfdx Posts: 33,509

    Hi, can I please have the residual and MF for a 2015 GMC Terrain SLE1 AWD ? 24 Months and 10K miles a year. Im located in NY. What is the dealer cash this month? Also, is there conquest cash available? If so, how much? thanks !

    .00055 MF and 71% residual. $800 lease cash

    No info on Conquest cash or other incentives.

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    Prices Paid, Lease Questions, SUVs

    ·
  • verinoxverinox Posts: 22
    Could I please have the numbers for:

    2015 GMC Terrain SLT-1 4x4 w/ V6
    36 months, 12k miles
    Cleveland, OH Tier 1 credit
    ·
  • kyfdxkyfdx Posts: 33,509
    verinox said:

    Could I please have the numbers for:

    2015 GMC Terrain SLT-1 4x4 w/ V6
    36 months, 12k miles
    Cleveland, OH Tier 1 credit

    .00040 MF and 59% residual. $800 lease cash.

    For all Terrain trims.

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    Prices Paid, Lease Questions, SUVs

    ·
  • smartin104smartin104 Posts: 22
    kyfdx said:

    verinox said:

    Could I please have the numbers for:

    2015 GMC Terrain SLT-1 4x4 w/ V6
    36 months, 12k miles
    Cleveland, OH Tier 1 credit

    .00040 MF and 59% residual. $800 lease cash.

    For all Terrain trims.
    you say all Terrain model trims.. so for northern NJ, this 0.00040 MF and 59% for the 2015 terrain slt-1 4x4 v6 still holds true? and what about 36/15?
    ·
  • MichaellMichaell ColoradoPosts: 12,939

    kyfdx said:

    verinox said:

    Could I please have the numbers for:

    2015 GMC Terrain SLT-1 4x4 w/ V6
    36 months, 12k miles
    Cleveland, OH Tier 1 credit

    .00040 MF and 59% residual. $800 lease cash.

    For all Terrain trims.
    you say all Terrain model trims.. so for northern NJ, this 0.00040 MF and 59% for the 2015 terrain slt-1 4x4 v6 still holds true? and what about 36/15?
    Subtract 2% from the residual for 15K miles per year.

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  • I am trying to negotiate a lease for a 2015 SLE-1 Terrain and this is the first lease I have ever done.

    I live in Pittsburgh and the MSRP on Edmunds says it is $27,485. The avg paid is $25,569.

    I am looking for a 3 year lease, 15k a year, no money down.

    Should I start negotiating with various dealers on the price of the car first as if I'm buying? Then after I have it down, tell them I want to lease? Or should I see which dealer offers me the lowest monthly payments?

    What is the best strategy to use for a total noobie? I've been reading about leasing as much as I can, but it is confusing.

    Thanks!

    ·
  • MichaellMichaell ColoradoPosts: 12,939
    I am trying to negotiate a lease for a 2015 SLE-1 Terrain and this is the first lease I have ever done. I live in Pittsburgh and the MSRP on Edmunds says it is $27,485. The avg paid is $25,569. I am looking for a 3 year lease, 15k a year, no money down. Should I start negotiating with various dealers on the price of the car first as if I'm buying? Then after I have it down, tell them I want to lease? Or should I see which dealer offers me the lowest monthly payments? What is the best strategy to use for a total noobie? I've been reading about leasing as much as I can, but it is confusing. Thanks!
    Yes negotiate your best selling price as if you were buying. 

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  • fliteskatesfliteskates Posts: 3
    edited April 10
    Michaell said:


    Yes negotiate your best selling price as if you were buying.


    Michaell,

    I got my first quote from a dealer and he quoted a price of $27,485. For 39m and 15k per year it would be $300 mo. This is of course on the SLE-1 FWD.

    Starting with this base, how should I go about negotiating with this dealer?

    I assume I contact other dealers and get their numbers, obviously. However, how would I compare their numbers to know what is the best deal? Based off the monthly price?

    Thanks

    ·
  • MichaellMichaell ColoradoPosts: 12,939
    Yes negotiate your best selling price as if you were buying.
    Michaell, I got my first quote from a dealer and he quoted a price of $27,485. For 39m and 15k per year it would be $300 mo. This is of course on the SLE-1 FWD. Starting with this base, how should I go about negotiating with this dealer? I assume I contact other dealers and get their numbers, obviously. However, how would I compare their numbers to know what is the best deal? Based off the monthly price? Thanks     

    You don't want to negotiate based on the payment. Ideally you would know the money factor and residual amount used to calculate the lease payment. Unfortunately we don't have those numbers this month for GMC. 

    Yes the more dealers you involve the better it is for you. 

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  • vindog04vindog04 Posts: 2
    What dealership in SoCal ???? And no money down at all sign and drive??
    ·
  • vindog04vindog04 Posts: 2
    What dealership ?? In SoCal 
    iam not finding that deal no where would like to know where and who you talked to. Thanks looking for this car for my wife and kid


    paperboyccc
    said:
    Picked up an SLT-1 Terrain today in SoCal

    MSRP $35,420 with v6, Chrome package, Navi
    $3,000 Dealer discount
    $1,500 Conquest
    $750 Bonus lease cash
    $1,300 lease cash
    $3,000 gm card bonus

    24/10 lease thru GM Financial (dealer claimed Ally is no longer an option)

    $595 acquisition fee
    0.000876 money factor (not sure why it didn't agree with what was provided here)
    70% residual

    Sign and drive. $158/mo plus tax

    Thank you for the help and to the community! It was a very difficult process as the dealers try to bait and switch, mark up the money factors, differ on residuals, include secret add ons, etc. Luckily we have about 50 GM and Chevy dealers around here so I drove to an honest one that was really looking to move a car.  

    ·
  • paperboycccpaperboyccc Posts: 76
    vindog04 said:
    What dealership ?? In SoCal 
    iam not finding that deal no where would like to know where and who you talked to. Thanks looking for this car for my wife and kid


    paperboyccc
    said:
    Picked up an SLT-1 Terrain today in SoCal

    MSRP $35,420 with v6, Chrome package, Navi
    $3,000 Dealer discount
    $1,500 Conquest
    $750 Bonus lease cash
    $1,300 lease cash
    $3,000 gm card bonus

    24/10 lease thru GM Financial (dealer claimed Ally is no longer an option)

    $595 acquisition fee
    0.000876 money factor (not sure why it didn't agree with what was provided here)
    70% residual

    Sign and drive. $158/mo plus tax

    Thank you for the help and to the community! It was a very difficult process as the dealers try to bait and switch, mark up the money factors, differ on residuals, include secret add ons, etc. Luckily we have about 50 GM and Chevy dealers around here so I drove to an honest one that was really looking to move a car.  

    As mentioned in my PM where I shared the dealer and sales person you can't replicate the deal without $3,000 in gm card cash. Since it is two months later the various incentives are likely changed as well. 
    ·
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