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GMC Terrain Lease Questions

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  • MichaellMichaell ColoradoPosts: 10,772

    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: 10,772

    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: 10,772

    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: 10,772

    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: 10,772

    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.

    MODERATOR
    2013 Hyundai Elantra GT / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
    Need help navigating? michaell@edmunds.com - or send a private message by clicking on my name.
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