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Chevrolet Tahoe Lease Questions

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  • Can anyone tell me what a lease price would be for a 2007 Tahoe LT3 GMS price of 42,811.87 for 36 months at 12,000 miles would be in NC?
  • slightboslightbo Posts: 15
    In January the residual on the Tahoe was pretty good, in the 60's, but the money factor/interest rate was really high, like 6.75%, as such it was about the same price to purchase the vehicle, so we did. I'm not sure if the interest rate on leases has gotten any better, ask the dealer for the MF/residual rates then use the lease/buy calculator under new cars on the edmunds site.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi silvertribute. I would be happy to estimate what this truck's lease payment should be for you. However, in order for me to do so I need you to provide me with its full MSRP (with the destination charge added in). Let me know and I'll do some calculations.

    Car_man
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  • Sure car_man the Tahoe I am looking at getting I was quoted a price of $42,811.87. We are looking at leasing perhaps 36 months or 39 months here in NC average 12,000 miles a year.
  • lakeslakes Posts: 1
    You all are passing along some great information. Can anyone offer guidance on what wold be a good deal on 2007 LTZ listed at about 48500 for a 48 month lease with 15K miles?
  • tld7tld7 Posts: 1
    Dear Car Man,

    I am in the process of attempting to lease a 2007 Tahoe LT (loaded)

    List - $48, 630
    My Cost - $44,237 (dealer quote)
    36 mo. - 15,000 annual miles
    Lease Rate - 4.5%
    Residual - 54%
    Payment - $499 dealer quote (excl. taxes)

    I am putting in $5,000 cash + 1st Payment + $550 refundable security deposit. The dealer said there may be a $595 lease acquisition fee built into the lease?

    I am trading a 2002 Suburban Z71 (loaded - excellent cond.) w/ 79K miles - $15,000 allowance.

    My payment goal was $450 including taxes (6.5%) and net $10k from my suburban. Is this a reasonable goal? I think they may have some room on my trade, but I'm not sure how much room they have on the new vehicle?

    TLD7
  • I too am looking into leasing an '07 LT3 loaded. If you dont mind me asking tld7, why would you put down $6000 to LEASE anything, when it doesn't reduce the buyout and if something happens to the vehicle all that down payment is wasted???

    Am I missing something?

    I for one have gotten an offer today for a Black Loaded LT3, 39mo Lease, Incepts ONly, $649/mo (including taxes), which compared to what I have seen is definitely the best offer shown to me. They are to call me back shortly with the buyout, purchase price, and money factor/interesst rate.

    I will then turn it over to Mr. Carman for the seal of approval before i make the deal.

    And oh, this includes a buyout of my current lease (2004 Acura RL/$575mo - 3 payments)...(Received GM invite to buy me out up to $2000)
  • sabbfrsabbfr Posts: 1
    Hi Car_man.

    I'm in the process of leasing a 2007 Tahoe LT3 and have a few questions.

    Is the residual value based off the dealer MSRP price or the agreed upon selling cost of the vehicle.

    Also, can you provide the step-by step formaula used to come up with your example above.

    The Tahoe LT3 vehicle I looked at has MSRP of $44,800. The sell cost is $41,200. I trying to figure out what the monthly lease payment would be for a 39 month lease, 12k miles and residual value of 62% provided by dealer. I was quoted a $757/month. Not sure how they arrived at the number.

    Thanks,

    Sabbfr
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Thanks for the info, silvertribute, but I actually need to know this truck's full MSRP in addition to its selling price. Both numbers are necessary to calculate lease payments on vehicles.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi tld7. GMAC, General Motors' captive finance company, charges an acquisition fee of $595 on every vehicles that it leases. You can either pay this charge at lease signing or have it rolled into your vehicle's capitalized cost. It doesn't really matter which you decide to do, what does matter though is that you don't make any sort of down payment when leasing. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Tahoe would be exactly the same, regardless of whether you had put $5,000 down, or had made absolutely no down payment at all.

    It looks to me as though you have already gotten a very attractive price quote on the Tahoe that you are interested in. I personally don't think that you are going to be able to get one for less than that, but you may want to stop by the following discussion to see how much other community members have paid for similar trucks lately:
    "Chevy Tahoe: Prices Paid & Buying Experiences".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hello Sabbfr. Vehicles' residual values are always based upon a percentage of their full MSRPs including the destination charge and the MSRPs of any options that can be residualized. The following article contains a detailed explanation of the formula that is used to calculate lease payments: Calculate Your Own Lease Payment.

    Car_man
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    Smart Shopper / Prices Paid Forums
  • I have a 2004 Escalade EXT, it stickered for $58,000 and has everything you could get on it. I have a 3 year lease,( 1 left) 15,000 miles a year. I put down $2500.00 and had lease loyality. My payment is $645 a month,, what can they be thinking??? How many people are going to trade in a Caddy for a Chevy, that stickers for $10,000.00 less, and pay more a month?? Especially when gas is almost $3 a gallon? It looks like my next vehicle will not be a GM full size SUV. All I can say is good luck GM,, and I am employee. :(
  • chlukechluke Posts: 1
    Carman,
    I am hoping that you can help me. I am trying to lease a 2007 chevy 2LT 4X4 Tahoe with an MSRP of $45,664.00 (includes options)
    I want a 36 month lease 15K miles with only first month, tags and registration upfront.
    I also have an Acura MDX 2004 that i will be trading in (dealer payoff on the lease is equal to trade in prices i have received).
    What would be a fair cap cost and lease payment for this tahoe?
    Thanks
  • 2k7tahoe2k7tahoe Posts: 2
    Hey guys,

    Today I turned down an offer on a Tahoe LS lease. Here are the terms. 48 months/12,000 miles. $3,000 total amount down. $415 + taxes per month, which totaled $439.00 per month. They said the lease factor was 8%, and the residual was 55. The MSRP was $33,990. They cut the price down to 31,000, then gave me $2,000 additional dollars off in factory to dealer incentives that are going on right now for the LS trim only. Selling price was then $29,000. When they calculated that, they came up with $2900 down, and $493.00 per month.

    We then haggled for 30 more minutes, in which time they eventually said they would knock the monthly down to $415.00 + 6.0% tax, $439.00, and still kepp me at $3,000 down.

    I told them unless they could come down another $13.00 per month on the payment, I couldn't do it. They said if I could put $3300.00 down they would do it for $425.00 taxes INCLUDED.

    I told them no thanks, and walked away. Did I do the right thing? Was that a good deal, and am I being petty about a few extra hundred bucks for no reason?

    Thanks, Bill in Miami
  • 2k7tahoe2k7tahoe Posts: 2
    Hey Guys,

    I got another question, maybe someone knows the answer to. I am concerned with not being approved on my GMAC lease when I finally make a deal on my truck.

    My Equifax FICO score is currently 751, but my high credit is a revolving Discover Card account of 3,000. No prior auto loans, or installment type loans at all. All I have OPEN on my credit is two revolving credit cards, and a few old Dept. Store cards that are closed accounts. No negatives though.

    Any thoughts?

    Thanks again,

    Bill in Miami
  • shyness36shyness36 Posts: 5
    How is it you get the lease loyalty? By coupon or just through GM? I've leased several Tahoe's and never got the lease loyalty> I'd really appreciate the information. Thanks.

    Dave
  • shyness36shyness36 Posts: 5
    If u don't mind my asking how did u get the 4.5% lease rate?

    Thanks

    Dave
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi chluke. I am not personally all that familiar with what the market for the new Tahoe is like right now. You may be able to get an idea of how much you should pay by visiting the following discussion, "Chevy Tahoe: Prices Paid & Buying Experiences", or by looking up the True Market Value of the vehicle that you want by visiting the following section of this site, Edmunds.com - New Vehicle Pricing. Once you have an approximate selling price and MSRP, let me know and I can use GMAC's actual lease program to estimate what your lease payment should be.

    Car_man
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  • gatorb8gatorb8 Posts: 1
    Car man,
    Do these numbers sound good?

    $44,475 MSRP
    $41,437 Selling Price

    36 month lease, 12k miles per year.
    $2000 at signing (GM card $$$ and $500 homebuilders association discount).

    $672/mo--includes a 7% sales tax.
    Assume tier 1 credit

    Not sure if 9% off msrp is enough...haven't negotiated much, but dealing with internet department and everything has been straight forward so far.

    Is this a good deal?
  • darrenc7darrenc7 Posts: 2
    Hi,

    I wanted to see if I was getting a good deal on my 2007 Tahoe lease...

    Details:
    $49,238 MSRP
    $44,224 Selling Price

    58 month lease, 12k miles per year.
    $5,00 trade in value 99 Honda Passport Trade-In
    $500 at signing

    $498 per month --includes a 7% sales tax

    Thanks for your input.
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