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GMC Yukon XL Lease Questions

CarMan@EdmundsCarMan@Edmunds Posts: 38,518
Hi everyone. Please use the following discussion to post any questions that you have about leasing a GMC Yukon XL. Thanks.

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Comments

  • What might be a fair residual price on a 2005 Yukon XL 4WD. Located in the midwest, being quoted an invoice price of $41217 + $6000 rebate.

    Very new to the lease game

    thanks
  • Hi liamsdad1. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    Unfortunately, General Motors' normal customer cash incentives are not compatible with its special lease program. Its cash incentives for leases are much lower. Furthermore, GM has stopped leasing 2005 models. Most manufacturers cancel their lease programs on leftover models late in the model year because by that point their residual values have fallen so much that they have become too expensive to support a reasonable lease payment on. As a result, if you want to lease this truck you would have to do so through an independent bank.

    Car_man
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  • sbtmsbtm Posts: 1
    What kind of a deal does this sound like?
    2007 Denali XL every option except retractable running boards: MSRP is 57,655.
    Cap Cost: 53318.49
    Residual: 36322.65, This is based on a 12000 mile per year lease. It is 63% of the 57655.00 list price.
    Monthly Payment: 832.32
    Monthly Use Tax : 66.17
    Total Payment: 898.49
    Total due at lease signing: 898.49
    First year Registration of 985.60 is included.

    Is this worth completing?

    Thanks
  • Hi sbtm. A 2007 GMC Yukon Denali XL has a spread of over $4,300 between its MSRP and dealer invoice price. That is right around the discount that you were quoted. There's some dealer cash and regional lease cash floating around out there, so the dealer that you are working with is making something on this deal, but overall I would say that this is an attractive price. Make sure that the dealer you are working with uses GMAC's base lease rate of 6.9% to calculate your monthly payment and you are in business.

    Car_man
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  • My wife has a 2004 Denali XL Finance Car, which she wants to trade in On 2007 Denali XL New Lease Car, The trade in value on finance car is 24k, her par off is 30K, My question is can you explain to me how the dealer with calculate the 6K into the new lease car, an example would help. Thanks for your help
  • Car_man,

    I qualify for corporate partner pricing at GMAC. From quotes from a dealer it seems like this gives me invoice pricing without having to negotiate down to it. Is this how it works? Also, with the current $2k rebate, is that only for a purchase or should that reduce the cap cost of a lease as well? i.e. If I am at invoice price due to the partner pricing, does the rebate still apply, thus giving me a cap cost of invoice less $2k? THANKS and Happy Holidays!
  • diann4diann4 Posts: 2
    Interested in a 2007 yukon xl fully loaded. We are getting the employee discount (gms) and the salesperson told us today there is no negotiating on lease once you get the employee discount. Is this true? The lease payment is just take it or leave it? I would aprreciate a quick reply because my escalade lease is ending.
  • Hi jordangd. It appears as though you are currently around $6,000 upside down on your present vehicle. If I personally was in your situation I would wait until I was less upside down to get a new vehicle. If your wife really can't wait, you will either have to roll the $6,000 negative equity that you have in your current truck into your new lease or pay it out of your own pocket at lease signing. There is a good chance that there is not enough of a margin to bury all of the $6,000 in your new lease even if you want to, so you are probably going to end up having to put some money down. The bottom line is that you are going to end up paying much more to lease your new Yukon XL than you would if you had waited until you are leas upside down on your current vehicle.

    Car_man
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  • Hi pmannymo. General Motors' supplier purchase price is not exactly dealer invoice, but it is probably fairly close to it. Unfortunately, the $2,000 customer cash that is available on the 2007 GMC Yukon XL, it was actually reduced to $1,750 in January, is not compatible with leases through GMAC.

    Car_man
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  • Hi diann4. What you were told is basically correct. General Motors' employee purchase program provides consumers who are eligible for it with an attractive selling price without any haggling. As long as the dealer you are working with is using GMAC's base lease rate to calculate your truck's monthly payment you really cannot negotiate. GMAC's current base lease rate for the 2007 GMC Yukon XL is an unattractive 7.2%.

    Car_man
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  • ras25ras25 Posts: 1
    My lease is going to be up in August. I have a 2003 GMC Yukon XL with the 6.0 V8 Engine with Approx. 60,000 Miles. Should I contact the dealer to return early or wait till the end? Does it make sense for me to purchase the vehicle or turn in and pay for extra mileage and such? Do they make better deals if you intend to pay in full at time of purchase.
  • Hi Carman, I currently lease an O5 Yukon XL. I have a loaded SLT and pay under 500 a month. I had the GM Card cash down. Now, I am looking to lease a 2007. I can't find ANY deals. I am in the Midwest and was wondering if you know of any deals or alternatives to the Yukon? I test drove the Acadia and it was the Grand Prix in SUV form - no thanks! I really need that third row for car pooling. My husband wants me to lease an Odyssey. Can you suggest any good lease deals with a third row seat, high safety rating and non minivan? Should I hold out hope for the Yukon? The three dealers I have contacted are in the 800 a month range. One dealer didn't even return my calls :P .
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi safire1993. If you can't find any good deals on the GMC Yukon XL, you can always take a look at the Chevrolet Suburban. Perhaps there is a Chevy dealer in your area that charges more reasonable prices than the local GMC dealer(s). If all you are concerned about is having a third row and getting a good deal, check out the Honda Pilot. It is a great truck that comes with three rows. It's not as big as the Yukon XL though. Off of the top of my head, a few other alternatives that have third row seating that you may want to consider include the Dodge Durango, Nissan Pathfinder, Jeep Commander, Toyota 4Runner, and Toyota Highlander, and Volvo XC90.

    Car_man
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  • carolynncarolynn Posts: 1
    Hi Safire, I am in your exact same boat! I currently lease an 05 Envoy XL and am looking for something with that 3 row (car pooling etc...) but also with some cargo space behind that 3rd row ... which is why I was thinking the Acadia might be a great fit. Hearing you call it a Grand Prix in SUV form makes me rethink that plan though!!! My requirement is I stay American made though. Wondering when GMC is going to start offering some better lease deals. Anyone with information on better pricing - please let us know!
  • rshtrsht Posts: 277
    Hi all, going from a Yukon XL to any other Japanese SUVs is quite a reduction in size... When I was shopping for a SUV, even the Sequoia was kinda tight comparing with the regular length Yukon... But, if size is not that big of an issue (i.e. like a Pilot or Land Cruiser...) then a lot of the Japanese cars/trucks/SUVs are in fact built and assembled in the USA otherwise Canada or Mexico. Believe it or not, quite a number of domestic autos are built in Canada and Mexico now a days. Last but least, it is my opinion, to stay away from Dodge, Chryseler and family of cars/SUV, yes even Benz; they really are just NOT reliable in general. Best wish in your choice and in getting a good deal. Oh! BTW, if a particular car/SUV was build in Japan, its VID number will consists of a "J" to indicate its origin (you car sales person should know). One of the SUVs that are build in Japan is the Toyota Land Cruiser or the Lexus LX470 for sure.
  • I am looking to lease a new Denali XL and have gotten prices that seem high. I am looking at a truck that is fully loaded at $59k sticker and I qualify for the GMS discount which prices the truck at $51k. I am getting 36 month lease prices of $800 per month for 12k miles per year. Is it true that the dealer can still negotiate the lease prices even when the GMS discount is involved? What is the residual on a truck like this? Also to make matters more confusing, on the GM family discount web page they offer a Denali lease (not an XL) for $650 per month with 15K miles per year MSRP $55k(loaded). I figured the XL should be about $50 per month more. Which puts me according to my calculations $750 per month including tax not the $800 I am getting quoted. Are the residuals better on the escalades that will allow me to get more truck for the same lease payment?
  • suv_jerrysuv_jerry Posts: 3
    Steve, the numbers you are being quoted sound right. I just leased a fully loaded XL Denali with a sticker of $59k today. I only took the 10k miles and a 39 month term and am paying $807 before taxes. Today was the last day to get the $1,500 rebate applied to the GMAC lease which is rarely seen for leasing. The price they are basing the lease on is $53,795 so with a little discount and the rebate I am happy with the deal. It's close to what Edmunds TMV says. Despite the approaching $4 per gallon for gas, The 2007's are very hot and dealers seem to be able to move them quickly in the the tri-state area of NY-NJ-CT.

    Hope this helps. Can't wait to pick up the truck tomorrow! Black with black interior. Oh yeah, this is our second black XL Denali in the family as my wife has a 2006. We love it. Turning in my 2004 Pilot EX which I loved, just not enough storage behind the heavily used third row.

    I think one reason I wanted to own two XL Denalis is to spite Gore!! I must be in good company as no one in this thread is a global warming evangelist.

    I'm sure by the time we lease our next on we will get the full hybbrid version if available in the XL version. So Al can rest easy.

    Any other recent lease stories out there?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi steveprint. The fact that you qualify for GMS pricing on the Yukon Denali XL that you are interested in should enable you to get the lowest possible price on it without having to haggle. You can always double check that the dealer you are working with is using GMAC's base lease rate and residual value of 7.2% and 60% to calculate your monthly payment. GMAC's lease rate on the Cadillac Escalade ESV is slightly better, 6.15%, but its residual value is 5 points lower.

    Car_man
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  • The ad reads: New 2007 GMC DENALI XL $499/month Sale Price includes all incentives plus destination. 39 month lease, 10,000 miles per year, $2000 plus 1st, plus tax, W.A.C My 1st question, what is W.A.C? 2nd question, how does a trade-in work with a lease? If you were to negotiate $5000 for your trade-in, would the dealer require that the $5000 be put towards the lease or can you request it as cash back? 3rd question - if the residual is high, is that something that you can negotiate? How can I determine a fair residual? Thank you in advance for your advice.
  • catamcatam Posts: 331
    I am looking to lease an 08 Denali XL. I am wondering if anyone knows the current money factor/ lease details available. Specific ?'s I have are what is the current residual % used on 36,39 mo lease; is residual calculated based on MSRP or actual cap cost; does anyone know how sales tax works for calculating lease pymt when you have a trade in (do you still get sales tax credit on trade in value?); I live in Utah if that matters. Hopefully a host can help or anyone else. Thanks, Chris.
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