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Chevrolet Silverado Lease Questions

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  • crewcabbcrewcabb Posts: 13
    well,dealers are calling me alot these last few days,more rebates,up to 6 grand or 72months,wouldn't taking the rebates be a better deal than the no interest? Also was looking at a SmartBuy,they said they have some great residuals rite now,but,interest rate ain't that hot,8.75%.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey crewcabb. I personally would go with the 0.0% financing for 72 months rather than a SmartLease or SmartBuy on the Silverado right now.

    Car_man
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  • CAR_MAN,

    What are the current lease numbers for a 2008 Silverado 1500 Crewcab 4X4 24 and 36 month leases 10,000 miles per year? My zipcode is 68101. THanks.
  • Hi indianajohns. Unfortunately, General Motors is no longer providing lease support on the Chevrolet Silverado. If you want to lease one, you would have to do so through an independent bank and chances are its lease program would not be very good.

    Car_man
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  • Car_man,

    Do you have the current lease rates and CCR for the Silverado LT and LTZ Crewcab 4WD for 36 months and 15k miles per year? Is GM still waiving the security deposit on leases of this vehicle?

    Thanks.
  • I sure do, autoboy19.

    Ally's current base lease rate for 36 month leases of any 2011 Chevrolet Silverado 1500 is 2.8%.

    Its residual value for a 36 month, 15k lease of a 2011 Silverado 1500 Crew Cab LT 4WD is 47%.

    The resid for an otherwise identical lease of an '11 Silverado 1500 Crew Cab LTZ 4WD is 45%.

    General Motors is currently providing a $3,200 cash incentive on leases of these trucks through Ally.

    Car_man
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  • Car_man,
    Do you have the current lease rates and residuals for a 2011 Silverado LT Extended cab 4WD for 39 months, both 12K and 15K miles through Ally Bank?
    Also is the $3,200 incentive still good on Ally leases?
    Thanks
  • Hi snowman5921. General Motors is scheduled to introduce its new November lease program some time today. Please feel free to post a reminder in this discussion for me and I'll gladly provide you with the details of the new program when I have them.

    Car_man
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  • Hi car_man. Have you heard anything about the November programs for the 11 Silverado? Residual value, money factor, cash incentives...anything you can provide is most appreciated. Thanks
  • snow26snow26 Posts: 24
    My local dealer is giving me. 39 month lease, 10000 mi per year, msrp 39640, allstar and conveneience and Z71 packages, off road package and rear view camera. My up front is 150 for tags, tax and first month. Payment is 428 per month. Program is with Ally bank.
  • Hi snowman5921. Ally's residual values for the 2011 Chevrolet Silverado vary depending upon which one of the myriad of trim levels you go with. If you provide me with the exact truck that you want I can give you an idea of what its residual value is like.

    For now I can tell you that Ally's current base lease rate for a 36 month lease of any '11 Silverado is 3.05%.

    Also, General Motors is currently providing a whopping $5,050 cash incentive on leases of the '11 Silverado through Ally.

    Car_man
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  • Hi snow26. The easiest way for me to evaluate this deal would be to look at this truck's selling price in relation to its MSRP. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is more difficult to tell how large a dealer discount you are being given and in turn if there is any room left to negotiate. Let us know what this truck's selling price is and I'm sure that either myself or another knowledgeable community member will gladly tell you what they think.

    Car_man
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  • snow26snow26 Posts: 24
    MSRP was 39640. Selling price was $38,500 Silveraso crew cab, LT with allstar and convenience and Z71.
  • Thanks for the additional information, snow26. This truck has a spread of at least $3,200 between its full MSRP and its dealer invoice price. In addition to that there is a massive $5,050 cash incentive on leases of this truck through Ally. That's a lot of room to play with during your negotiations. I personally would want a much larger dealer discount than this if I was in the market for this truck.

    Car_man
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  • I'm in a similar situation looking at an extended cab, 1500 LS, with the few extras. 36,645 MSRP, with the first number $3000 at signing, $465/mo. I actually laughed out loud at the dealership because Chevy's example is a LS, 32285 MSRP at 269/mo, with 1729 at signing 39months/39,000 miles. I am assuming the 1729 includes first month payment as traditional with leases. I knew right off they were using the MSRP as selling price.

    Of course they're trying to tell me Chevy's example is a stripped down 2 wheel drive LS, which I knew to be untrue. Something didn't jive with me. Then they came back with $3000 at signing and $410/month, with the price at dealer invoice, 34,000 and change. Still doesn't sound right to me, which I am now guessing they are still holding back the incentive of $5050 which will allow them to go way below invoice. Is that correct?

    In my math, and I may be off base. I am thinking if I pay the 1729, pay the taxes and the tags, I am thinking it should just be less than $300/month, roughly $290. If I roll in the taxes and give them $1729, $305/month.

    Car_man, could you help me out? All I know is when I leased my wife's Jeep a few years ago, they wanted $2000 down and $495/mo. By the time I put my jacket on to walk out they scrambled. Ended up, I gave them first payment & tag costs, $500. The "new" payment was $325/mo. and this is why I hate car shopping.

    Thanks

    Hutchy
  • Hi Hutchy. If the dealer is leasing you this truck at invoice then yes, they probably are pocketing the massive $5,000 cash incentive that is currently available on leases of it through Ally. If I was interested in leasing a Silverado right now, I personally would want a selling price of at least $4,000 below invoice.

    Car_man
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  • CarMan,

    Can you elaborate on the mentioned $5,050 incentive? Is this in lieu of any other incentive (i.e., $2500 or 0% Financing) or is this in addition to other incentives? Either way, that much of a Cap Cost Reduction makes for an incredible deal on a lease payment assuming the Money factor is still at 3.05%. How long is this in effect? I'm salivating right now...can you tell?
  • Hi just_ask. I certainly can. You are correct, the $5,050 cash incentive that General Motors is currently providing on leases of this truck is the only cash that is compatible with the special lease program through Ally. GM's normal consumer cash is not available on leases.

    The 3.05% lease rate is still in effect through the end of the year.

    Car_man
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  • Today I stopped by a chevy dealer in PA to speak with them about leasing Silverado LS Extended Cab MSRP 32960 with a money factor of .0005. Trading in a car to cover the 1700 odd dollars down.

    First asking price from the sales man was 378, last offer was 348. He used to US bank , not Ally and would not explain why he wouldn't use Ally when questioned. He also stated that I didn't qualify for all the incentives a mailer for GM owners, and USAA.

    Any help Car_Man would be appreciated. Are the lease incentives through Ally still available, and could you give me a price where you think i should shoot for. I was thinking 269+ Tax and Tags would put me around 295-300.

    Thanks
  • Hi db192psu. General Motors is supporting leases through US Bank as well as through Ally. Its lease cash is a little bit lower for deals through US Bank, $4,300 vs. $5,050, but its lease rate is better as well 1.2% vs. 3.05%. I can see why a dealer would want to run a lease through US Bank. Either way, GM is scheduled to introduce new incentives...including a new lease program some time tomorrow. Please feel free to check back with me later in the week for an update.

    Car_man
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