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Chevrolet Tahoe Lease Questions

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  • Hey Carman,

    None of these vehicles have been discounted through rebates on the prices that I've given. They are all being sold at these prices through GM's company car program and are sold like NEW vehicles. These vehicles would still be able to have whatever rebates or discounts are out there at the time. Very good deal for a company employee or retire and family members that would want to take a vehicle with some mileage.

    -D
  • delta737hdelta737h Posts: 603
    Greetings stanman4!

    Sounds like a fairly decent deal. To answer your other question regarding payment, recall the following equation...

    P = F (A + R) + (A - R)/T

    A little algebra (did you think this stuff was useless in HS?) allows us to solve for A...

    A = [PT - R(FT - R)]/(FT + 1)

    Simply plug in the known values for Payment (P), Term (months) (T), Residual Value (R), and Money Factor (F) to evaluate the Adj. Cap (A).

    Once you've solved for "A", you can use the following identitiy...

    V + C - D = A

    to obtain...

    V = A - C + D

    where...

    V = Agreed Upon Value (Sell Price)

    A = Adj. Cap.

    C = Amount(s) Capitalized (i.e., financed) which may include taxes

    D = Cap Reduction(s)

    Now you have found "V", the Agreed Upon Value or sell price.

    And that's what ya call "work'n backwards".

    I suggest that you pocket all cash rebates especially if your money factor is low. "C" will most likely be zero in your case unless you have trade equity. DO NOT put cash down as a car/truck is a depreciating asset and, if you have a total loss, it's not likely you'll recover your down payment (cap reduction).

    Hope this helps.

    John
  • Thanks delta737h,

    This information you give in fantastic.

    On my deal above you stated that it is fairly decent deal. What would you do to make it a GREAT deal..

    I really need help in that area. (negotiating the price).

    Also, I heard today that GM will be offering bigger incentives over Labor Day. Do you know what the incentive may be and is it worth to wait if you lease.

    Thanks again,

    stanman4
  • delta737hdelta737h Posts: 603
    stanman4,

    Based on the information provided by edmunds, I would say invoice + $3,000 in cash rebates...

    http://www.edmunds.com/incentives/RebateController?styleid=100682945&popuppage=o- n

    Apparently, there is is $2,000 cash to customer rebate plus a $1,000 cash to dealer incentive. However, I'm not sure whether or not these rebates apply to your model. If not, I'd shoot for at least $1,500 under invoice.

    John
  • Thanks again John,

    I will shoot for that.

    I will let you know how how it turns out.

    stanman4
  • jisraeljisrael Posts: 4
    Background: We leased, and paid 100% of the lease up front, on a 2006 Trailblazer in fall of 2005. It turned out to be a lemon and after fighting GM they replaced it in Jan 2006 with another 2006 Trailblazer. A few months ago we moved to another state and are getting ready to turn in the Trailblazer this fall.

    Today when my wife goes to get her new plates on the Trailblazer we find out that the Chevy dealer made a mistake and put the title of the replacement Trailblazer in our name, not GMAC, and has was marked as a purchase not lease. We have the title in our name and in our possession that should have gone to GMAC. GMAC has the Trailblazer listed as leased but they do not have any copies of the title. My wife called the dealer and the lady from the title dept told her that the replaced Trailblazer is listed as a purchase not a lease. The dealership asked my wife to mail the title to them they would fix it and get the new title to GMAC.

    After everything we went through with this dealer and the lemon I do not trust anyone that works at that place. I am not going to send it in yet. I am thinking about holding out to see what they do... after all I do have the title in my possession and in my name. Thoughts?

    Thanks
  • jisraeljisrael Posts: 4
    Sorry I put this under the wrong discussion. If you have any thoughts please answer.
  • conairconair Posts: 1
    I am pricing a 2008 Tahoe lease. The sticker is 52,320.00 the GMS is 45.497.00 so I’m told. I do not know the residual. It’s a 15,000-mile, 39-month lease with no money down, except license and inspection (NYS) fees.
    The dealer told meet it did not make a difference what dealer I purchased the vehicle at because GMS pricing even on a lease would always be the same. He quoted a price of 720.00 a month. I called him a day later and told him he was playing with the interest, he called back and said he could do 682.00 per month. Does this sound right to you? Are people paying this much for leases these days? Also he suggested this new lease damage protection plan for up to 5000 coverage, 1000 per item its 21.00 a moth rolled in. Do you think this is a fair deal? And should I get the protection plan. Thank You
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're welcome, stanman4. Yes, definitely make sure that the dealer you are working with uses GMAC's base lease rate of 6.9% to calculate your monthly payment.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi 95aggie. The attractive selling prices that are available on vehicles purchased using General Motors' supplier purchase program are available on leases.

    Generally speaking, the end of the month is the best time to purchase or lease a new vehicle. Dealers are usually the most anxious to finalize deals then to help boost their monthly numbers. Furthermore, manufacturers often sweeten their incentives at the end of the month.

    When leasing, it is important to negotiate your vehicle's selling price, just as if you were paying cash for or financing it. The only difference between negotiating the selling price of a Tahoe that you plan on leasing and one that you plan on purchasing is that the $2,000 customer cash that GM is providing on this truck is not compatible with its special lease program.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi conair. Let's work up a lease payment on the truck that you are interested in using GM's current lease program and see what we come up with. According to my calculations, if you were to lease a 2008 Chevrolet Tahoe that has an MSRP of $52,320 and a selling price of $45,497 through GMAC right now for 39 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $605.

    I definitely would pass on the additional damage protection coverage if I was going to lease. It is going to cost you $819 plus lost interest over the life of your lease. Unless you really mess your truck up, chances are that you won't have to pay more than this in excess wear and tear.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I just want to get a heads up before I go to the dealership about how much I should be paying on a 12000 mile 36 month lease LT3 tahoe with a vehicle price of about 43,000. I want to put 0 down what should my payments be a month.
  • I just wanted to get a heads up before I go shopping on a lease for a 2007 tahoe LT3 with 12000 miles per year on a 36 month lease with 0 down. the total vehicle price was around 43000. thankyou
  • I love this board.... I need help, I want to get an 07 Tahoe LTZ this weekend.. Sales price $50k, 36 month lease, 12k miles/ yr., $3500 down & $588/ mo after taxes. Is this a good deal? Also, would I have better payments with a longer lease? If so, can I still trade-in in 3 years with no extra fees?

    Thanks
  • I want to get an 07 Tahoe LTZ this weekend.. Sales price $50k
    ___________________________________________________________
    That seems like a really high price considering the '08 models will soon be out.....I would go back to the dealer and have them sharpen up the pencil. I'll bet you can better that price by at least $5K. The lower the sales price the lower your lease payments will be. And if they won't make you a better deal just walk out the door. They need you, you don't need them.
  • Car-man:

    I live in Daly City, California. I wouldlike to lease a 2007 Chevy Suburban, 12k miles year, no money down, 36-39 month lease. I am a novice and need help. The dealer tried selling me a 39 month lease for $749, with TAX INCLUDED (8.25%).

    I am trying to lease a SUburban for less than $700/month. The news came out today (9/4/2007) about how crappy the car industry has been, and given the fact that the 2008 models are in, is this realistic?

    Thanks in advance!
  • Hi...Great forum...so much great information. Thanks in advance.

    Just trying to see how low I can go.

    I got this quote from a dealer in CT.

    2007 Chevy Tahoe
    LT3
    $42,895, Sticker
    $40,900. selling price
    $4000K down
    $541 per month incudes (sales tax, everything else)
    39 month lease
    $25,900 purchase at end of lease
    15k mile per year
    Sport Red ( cashmiere leather)
    Not sure of money factor
    Would love the payment to be around $480 per month....
    what do you think the sales price would have to be for that vehicle to get to $480?

    I'd hate to give up anything now...the truck is so beautiful.

    I can't stop thinking about this car..and it isn't even for me, its for my wife....lol
    Let me know if I missed anything....

    Thanks again for any and all information, this forum has be so helpful. Thanks for everyone who takes the time to respond.
    Kevin ( Jetsss)
  • Carman, can you please provide the assumptions for your numbers on the 2008 Tahoe Lease (residual, interest rate and incentives)? Also, how did you come up with such a low selling prices?

    I am talking with a few dealers in Philly area and they are not close.

    Thanks
  • Hi. I leased a 2007 Tahoe LTZ in sept. of 2006. It's a 48 month lease w/ 15K mi per year. Ashamed as I should be, I don't remember the "price" of the vehicle. I believe I paid approx. 3000 out of pocket when it was all said and done. My payment is 613.00 / month.

    My "buyout" for the lease as of today is 42,900. At the end of my lease, Sept. 2010, the residual value will be 27,000.

    My question is: Did I get hosed? I would like to buy the new TL when it comes out in Fall of 2008, but I am afraid I will be completely upside down on my Tahoe.

    Did I get hosed at the dealer?
  • My "buyout" for the lease as of today is 42,900. At the end of my lease, Sept. 2010, the residual value will be 27,000.
    ___________________________________________________________
    You are correct...you are and will continue to be "upside down" on your lease. Good deal or bad deal, you are underwater.
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