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Chevrolet Suburban Lease Questions

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  • Karen_CMKaren_CM Posts: 5,020
    A reporter seeks to talk with consumers who just purchased a new large SUV. Please send the make and model of your vehicle along with your daytime contact information to ctalati@edmunds.com no later than Thursday, November 8, 2007.

    Community Manager If you have any questions or concerns about the Forums, send me an email, karen@edmunds.com, or click on my screen name to send a personal message.

  • Hello, I have neogiated a purchase price on a LTZ 4x4 of $46,800 - would someone assist me with a 24 and 36 month lease price? Thanks for the assistance!
  • Hi Everyone,

    I leased a new 2008 Suburban 2500 4x4 w/LT3. Thing is loading with Nav System... the works!!! I think I got a good deal, but wanted to know if others thought so. Plus I'd like to know if anyone else has an estimate for "real-life" MPG?

    Note: I do not get GM Discount of any kind.
    $3550 in available rebates & bonus Cash.
    MSRP 54,274 BuyPrice : 48,000 39month/15000 miles a year. Residual 60% and 7.2% lease rate. $854 due at signing, $589 a month (Note sales tax rate 6%, plate transfer)

    Did I do good? Thanks for any and all feedback.
  • go8go8 Posts: 58
    Hi. At that price, I think you basically stole the truck from the dealer! With no money down, the cost should have been over $650 a month.
  • Hi sampson464646. You were smart to negotiate a selling price on the truck that you are interested in before having the dealer calculate a lease payment on it for you. I would be happy to use GM's current lease program for this model to estimate what its monthly payment should be, but in order for me to do so I need to know its MSRP as well. Met me know and I'll crunch some numbers for you.

    Car_man
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  • Carman,

    MSRP is $54,300
  • Thanks for the additional information, mikes4. OK, according to my calculations, if you were to lease a 2008 Chevrolet Suburban LTZ 4x4 that has an MSRP of $54,300 and a selling price of $46,800 through GMAC right now for 24 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $684. The payment for an otherwise identical 36 month lease would be around $634.

    When negotiating your lease on this truck, keep in mind that the $2,000 customer cash that General Motors is currently providing on it is not compatible with its special lease program.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • srf2srf2 Posts: 6
    Car_Man: Could you please tell me the current lease rate and residual value from GMAC for a 2008 Suburban LTZ? Thank you!
  • Here's the information that you're looking for, srf2. You never mentioned how long you want to lease this truck for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. GMAC's current base lease rate and residual value for a 36 month lease of a 2008 Chevrolet Suburban with 15,000 miles per year are 7.2% and 60%, respectively. When negotiating your lease on this truck, make sure to take the $1,000 bonus cash that GM introduced on it last week into account.

    Car_man
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  • Car_Man-

    I live in Central CA looking for a 2008 Suburban Z71 4WD, 2nd row buckets, DVD, Nav...and pretty much every other option. I was quoted 705-month with tax and $2200 out the door on 39 months/39K miles. My quote show a cost of 48,594 and a residual of 32,511. Does this look good/bad/ok??

    Thanks!
  • pebszpebsz Posts: 1
    I am in a horribile position: I currently have a supercharged range rover that I paid 90k for. I currently owe 63k. The chevy dealer told me that the most they could give me for it was 53k. I wanted to roll negative into new lease. I am looking to lease a 08 suburban with a msrp of 52k 15k miles 36 mths florida sales tax. He is a long time friend( haha)`but true. He is telling me that he is only making money on the holdback. He is giving me a payment of 1240 per month. I think is is way to high. What do you think?
  • If you are looking for a short term lease with almost no money down keep in mind that people are trying to get out of thier leases using various lease trading websites. I am one of those people and am even offering extra money down just to get rid of it! Just another option... no dealer needed! :)
  • I have been looking at a 2008 suburban LTZ loaded. MSRP 55930 with a gms price of 48567....3000 rebates bring it down to $45567....No money down at 39 months and 15k per year....Price quote is 629 per month. Is that in line with what your numbers say? Thank you in advance.....
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi gpd219. You need to compare the selling price that you mentioned to this truck's full MSRP. That will show you how much of a discount you are being given on it. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. If I was in the market for a 2008 Chevrolet Suburban right now, I personally would shoot for a selling price of around $500 over dealer invoice or so, minus the $1,000 owner loyalty cash that is available on leases of it right now, if you are eligible for it. You can look up this truck's exact invoice price by visiting the New Vehicle Pricing section of this site.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi pebsz. Why not just keep your Range Rover until you are less upside down on it? Rolling $10,000 in negative equity into your new lease, if that is even possible, is definitely not a good idea.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi metro2. I would be happy to work up a lease payment on this truck for you. Keep in mind though that the $2,000 customer cash that General Motors is currently providing on the 2008 Chevrolet Suburban is not compatible with GMAC's special lease program. GM is providing a $1,000 owner loyalty incentive on the 2008 Suburban. Given the fact that you are taking advantage of GMS pricing, I suspect that you qualify for this and I will take it into account. According to my calculations, if you were to lease a 2008 Chevrolet Suburban that has an MSRP of $55,930 and a selling price of $47,567 (GMS - $1,000 loyalty) through GMAC right now for 39 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $616.

    Car_man
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  • Car Man,
    I am currently looking at two SUV's, here is one that I'd like info on please. Thank you!
    Can you please give me the Monthly payment before tax and the total up front that I should expect on the following car?
    Zip Code: 33156
    SUV: 2008 Suburban LTZ with Chrome appear Pack
    MSRP: 50,355 minus 2,000 savings offer = 48,355
    Offer Price: What should I expect to get the car for over and above the 2,000 savings?
    Lease: 36 months
    Miles: 15,000
    What should the lease payment be and how much up front should I be paying based on what you think I should negotiate the price down to?

    Also, do 18,000 miles per year leases exist? How much would that increase the monthly payment by? Thank you!!
  • I am just starting to shop for a Suburban LTZ lease. I am a current GM owner and I live in the New York City metro area.

    I was wondering what the current incentives, residuals and money factors are for 36, 39 and 48 month leases at 12k miles per year.

    Any info would be appreciated.

    Thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Excellent username, calvinhobbes. I used to love that cartoon. Here's the information that you're looking for. GMAC's current base lease rate and residual value for a 36 month lease of any 2008 Chevrolet Suburban with 12,000 miles per year are 7.2% and 63%, respectively. The numbers for an otherwise identical 39 month lease are 7.2% and 62%. This truck's 48 month numbers are 7.2% and 55%. As you can see, GMAC 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 $1,000 owner loyalty / conquest cash that GM is currently providing on it into account.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • trimarc140trimarc140 Posts: 3
    Thanks for answering mine Car Man! Your a champ, so helpful. Have a great life.
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