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2013 and earlier Chevrolet Tahoe Lease Questions

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  • I'm in a similar situation as wiggles3. I live in the Tampa Bay area and am looking for the best lease deal on a '07 Tahoe in the $40k MSRP range. One of the local dealers has been running an ad every weekend offering the following:

    2007 Tahoe
    $219/month + tax
    $2500 down + (dealer fee, title, etc)
    27 month term
    10k miles

    When I called about the ad, the finance manager said I could get the same vehicle (LS w/no options) w/out the $2500 down for around $419/month plus tax. This option does not sound as good. I understand that putting money down on a lease is not wise, but in this instance it seems to make a huge difference in payment. Is the dealer just artificially inflating the payment in the no cap cost reduction option? What are your thoughts? Do you see any more aggressive rebates other than the current $1k in the near future? Thanks in advance!
  • You're welcome, hooops. Through October 31st, General Motors was providing $1,000 bonus cash on the 2007 Chevrolet Tahoe. This program has expired though. The Tahoe's lease rates and residual values are scheduled to run through the end of the year. I will try to find out today if GM has any new bonus cash on this truck. Let me know if you're interested in finding out what the new program is like.

    Car_man
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  • Thanks wiggles3. I'm glad that you enjoy these discussions so much. I believe that the dealer invoice price of the truck that you described is around $37,025. Plus, GM was providing $1,000 bonus cash on it in October. This take us down to $36,025. As you can see, the selling price that you were quoted, $36,185, is very close to this. That means that you are being given a very good deal. Furthermore, the lease rate that you were quoted is right in line with GMAC's current buy rate for this model. This is always a good thing. I'd say that this is a very good deal. If you like the truck, go for it.

    Car_man
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  • Greetings fsudavid. I would be happy to calculate what this truck's lease payment should be without any sort of down payment. In order for me to do so through, I need you to provide me with its full MSRP and selling price. Let me know what these numbers are, they might even be included in the fine print of the ad, and I'll crunch some numbers for you.

    Car_man
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  • Car_Man,
    Will there be more incentives on the Tahoe after say Thanksgiving? I am wondering if it pays to wait on leasing my 2007 LTZ.
    Thanks! :confuse:
  • Any word on what GM is going to do for incentives? I am looking at a 07 Tahoe LT-3. I am looking at doing a smart buy depending on the deal offered. I have been told that there is a 3k rebate right now and that Tahoes have a 2500-3500 markup depending on the model. Is this information true?
  • CAR MAN,

    Thanks...took the deal on the TAHOE...

    Regards,

    Wiggles 3
  • Looking for any incentives from GM. Researching 07 Tahoe LT-2 or LT-3 lease. Just started looking in MA. Any advice or direction would be helpful. Also, I am in a lease now with Jeep for another 6 months. Is that new GM lease buyout up to 2 grand worth it? Or should I buy out the jeep and work the trade to cut down on the sales tax??
  • I have been in touch with a local chevy dealer in Florida who gave me a quote of $30,037 for a base tahoe - the msrp was $33390 minus their discount and also a $2000 rebate.

    When I asked about leasing, he told me that the sale price was $32037 because the rebates do not apply to lease vehicles. He also quoted me a lease rate of 8.9% which almost knocked me off my chair. He said there was a little bit of room for excellent credit. Does anyone know what the Chevy money factor is for Novemeber for the SouthEast region?

    When I looked into the GM Suppliers program, I got a quote of just under $30k with a $2500 rebate.

    First question: does the Chevy/GM rebate program typically extend to lease vehicles?

    Second Question: Has anyone one the forum had any experience with the GM suppliers program - good or bad?

    Thanks.
  • What is the total down and lease pymt quoted?
  • 62% residual, 8.9% finance and just under $1500 for inception charges.

    No money down and the lease was $490.

    I saw an ad on TV yesterday for an 07 Tahoe for $399 month for 48 months, but missed the fine print....
  • I have a GMS discount to use. I contacted 2 dealers and they both gave me about the same info on a 3LT Tahoe that I would be building from scratch.

    MSRP of 40,700 and the GMS price around 36,200. They both said they couldn't find out what the finance charge was-sd the computer generates it.

    Residual of 62% on 39 month with a payment of 525.00. I have great credit-at least 730. I live in northern Indiana.

    How do I get these guys to stop jerking me around because I'm a girl! Finance charges were about 650.00 for one place and the other didn't tell me.
  • Went to a NJ dealership in WNY and was quoted the following;

    MSRP $44369 Tahoe 2007 2LT
    Selling Price $40569
    Lease rate 6%
    Residual value 49% (I think this may be low)

    Does this sound fair and what would I be looking at monthly?

    Thnx.
  • I just bought a 2007 Tahow LTZ with a few extra's. REtail was 49999. I paid 38.500 and then put money down, etc.

    Is this a good price or did I leave money on the table?
  • I am looking to lease an 07 Tahoe lt3 in Boston Ma (sales tax 5%). Is 60% residual at 7.5% the same anywhere in the US? is there anywhere I can go on the web to stick these numbers in along with an asking price and calculate a monthly payment on a lease? or do I have deal with pushy salesmen?
  • In FLA they are advertising a 2007 LS for $25,898 (3 at that price) and another dealer same truck for $26,999 (5 at that price).

    I am not sure of the same incentives apply to an LT, but they are dicounting between $7000 and $8000 below MSRP for an LS.

    I was told by the dealer 62% and 8.9% with a little "wiggle room" for excellent credit. I think the inception charges were quoted at about $1300 or $1400...
  • Went to another dealership in jersey city. This is what they offered;

    Tahoe 2007 LT3 Some options, leather seats, dvd, 20" rims.
    MSRP $47320
    Selling Price $41099 (Supposedly)
    Lease rate 6%
    Residual Value 57%
    36/39 mnths
    $659.00 + Tax.

    I definitely walked away from this deal. I don't know where they came up with this offer. When I told him that I did my own calculations, I came up with approx $458 + $40(tax). He says that I didn't do the cal right. For this type of money you can get the new audi truck.
  • allison5allison5 Posts: 130
    I really want the 07 Tahoe but I think I am in a bind with current 04 GMC Yukon. I have 45,000 miles on my yukon and the dealer would only give me 18,000, this isn't surprising since that is about what Kelly BLue book says. Anyway the problem is that my pay off is 27,000. The dealer out here in California says the best deal to do is lease but that I would have to pay the difference of 9,000 and then of course that does not include the down payment of new vehicle. I realize I am completly upside down but if I wait a year or two won't it be worse with more miles, depreciated more etc. I guess another option is to sell it on my own and heopfully be able to get more than that. Amy ideas???
  • allison5 said: I realize I am completly upside down
    ____________________________________________________________
    You just said it all....your only way out is to come up with the $$$ to pay off the loan or just continue to drive the '04 until the end of the contract. By keeping the vehicle the payoff will go down faster than the vehicle will depreciate and you will get back to having some equity. You could sell the '04 on your own but that would still leave you a sizeable payoff, less than $9K, but probably still around $6K to $7K.
  • Car-Man, I’m also in FL and am very interested in leasing a 2007 Tahoe LT Z71. What should the residual and money factor be in FL through the end of the year? Also, are those figures set by the dealership or are both figures set by the bank (GMAC). Secondly do you anticipate those figures improving in the first quarter of 07 or am i better off leasing before the end of year?
    Thanks for your help...
  • Hello spiketudor. General Motors did not introduce any additional consumer incentives on the 2007 Chevrolet Tahoe for Thanksgiving. It did introduce some dealer cash on this truck a couple of weeks ago. On November 18th, GM dealers were provided with a pool of dealer cash that they can use to help them sell vehicles. Dealers can use up $1,500 dealer cash on the '07 Tahoe, though most dealers will probably use much less than that. It is difficult to tell how much of this dealer cash dealers are using on specific models, but it is good to know about when negotiating.

    Car_man
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  • Hi scrump9154. General Motors has a total of $2,000 to $3,000 in customer cash incentives on the 2007 Chevrolet Tahoe right now. The exact amount varies by region. Having said this, this cash is not compatible with leases through GMAC. I am not sure about GMAC's SmartBuy program, but I suspect that it is not compatible with it either. It is difficult for me to say for certain because I personally do not keep tabs on the details of manufacturers' balloon note programs. You can find out the exact spread between this model's MSRP and dealer invoice price by looking it up in the following section of this site: Edmunds.com - New Vehicle Pricing.

    Car_man
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  • You're very welcome, wiggles3. Congratulations on your new truck!

    Car_man
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  • Hello bigragu2. General Motors does have some customer cash incentives on the 2007 Chevrolet Tahoe right now. Unfortunately, they are not available on leases. As far as getting out of your current lease goes, GM is running an early lease termination program right now however it is only available to current lessees of GM products. Have you seen a different program out there that offers to get current lessees of competitive products out of their deals early if they purchase or lease a new GM product? It is possible that GM sent out some sort of direct mail piece with an offer like this.

    Car_man
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  • Hi dogs835. What you were told about the customer cash not being available on Tahoes that are leased through GMAC is correct. While GMAC's base lease rate for the 207 Chevrolet Tahoe is bad, it's not as bad as the rate that you were quoted. It is currently 6.9%, and I doubt that you need "excellent" credit to qualify for it. It sounds to me as though the dealer that you are working with is attempting to mark GMAC's base lease rate for this model up to add additional hidden back-end profit to your deal.

    General Motors' supplier purchase program enables consumers who qualify for it to purchase GM products for a set price, which is fairly attractive. If you qualify for GM's supplier purchase program there is a good chance that you will get a better price on the Tahoe that you want than you would be able to negotiate on your own.

    Car_man
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  • Hi sethandstac. The fact that you can get the GMS price on the truck that you are interested in is great because it guarantees that you will get it for an attractive price. Now just make sure that the dealer you get your truck from uses GMAC's base lease rate of 6.9% to calculate your vehicle's monthly payment and you're in business.

    Car_man
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  • Hi borderman01. This looks like a very fair deal to me. I would be happy to estimate what this truck's lease payment should be for you, but you never mentioned how long you want to lease it for or what mileage allowance you need. 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. Using the prices that you mentioned in your post, an MSRP of $44,369 and a selling price of $40,459, I estimate that this 2007 Chevrolet Tahoe's 36 month, 15,000 mile per year, zero down, pre-tax monthly payment should be around $578.

    Car_man
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  • Hi tatung70. This particular discussion is for consumers to discuss leasing the Chevrolet Tahoe. You may have better luck getting feedback on the price that you were quoted to purchase this truck by visiting the following discussion: "Chevy Tahoe: Prices Paid & Buying Experiences".

    Having said this' let's take a look at your deal. Are you saying that you received a $11,500 discount on your 2007 Chevrolet Tahoe?!? If so, you got an amazing deal, but I don't see how this is possible.

    Car_man
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  • Hi dubbsy01. You never mentioned how long this lease is 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 2007 Chevrolet Tahoe with 15,000 miles per year are 6.9% and 60%, respectively. I would be happy to estimate what the monthly payment should be on the exact truck that you are interested in if you provide me with its MSRP and selling price.

    Car_man
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  • Hi allison5. Are you financing or leasing your Yukon. If you are leasing it, all you have to do is wait until the scheduled end of your lease and walk away from your truck, only having to pay a penalty for any excess mileage that it has. It sounds like you are financing your truck, not leasing it though. Generally speaking, the longer you want to get a new vehicle, the less upside down you will be on your current one. New vehicles experience their highest rate of depreciation during the first year of ownership. By waiting a year or two to get something new, you should be able to catch up to your truck's pay off price, perhaps not completely but you'll be much closer than you are right now. If I was in your situation, I personally would wait another year or two to get a new vehicle. Heck by then, the deals on the redesigned Tahoe may be even better than they are right now.

    Car_man
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