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2013 and earlier Chevrolet Equinox Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey rosenbj1. The lease program for the FWD and AWD models are interestingly exactly the same. The addition of the options that you mentioned should not have any impact upon the lease program either.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited March 2011
    Hi rman850r. I don't believe that General Motors is providing lease support on 24 month leases of the Equinox through Ally. I've heard that you can lease one through GM Financial for 24 month at a lease rate of 3.05%, but I don't know what the residuals would be.

    There's no lease cash for deals through GM Financial.

    Car_man
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  • aj72aj72 Posts: 3
    HI,
    Can you give me the current figures for lease rate/ residual for the Equinox 1 LT with driver convenience and cargo packages? 4 cyclinder, AWD model with 15K per year. 36 or 39 months.
    New york state tax 8%

    Thanks!
  • gmcustsvcgmcustsvc Posts: 4,100
    aj72,
    If you would email me with your zip code I would be happy to assist you with leasing information. Have a great weekend!
    Christina
    GM Customer Service
  • aj72aj72 Posts: 3
    It's 12534.
  • kyfdxkyfdx Posts: 29,140
    Hi,

    We'd prefer that pricing and lease variable information be posted in the forums, where it will benefit the multitude of our members, rather than off-line, where it remains hidden from the rest of us.

    Thanks for your understanding... If you can't do that, then Car_Man will be along to provide that information.

    regards,
    kyfdx
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi aj72. Ally's current base lease rate for a 36 or 39 month lease of a 2011 Chevrolet Equinox 4-cylinder AWD with 15,000 miles per year is 1.8%.

    I haven't seen the residual values for this month yet, so I'll have to look into that for you.

    Car_man
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  • aj72aj72 Posts: 3
    Hi Car_man,
    Have you seen any of the figures for residuals yet?

    aj72
  • Hi Car Man!

    Thank you for your valuable input! You are helping my wife and I from getting gouged!

    Can you let me know what the residual, and rate is on a 3 year lease with 12,000 miles on a 2011 Chevy Equinox 1LT w/ convenience package and sunroof (does the CP and sunroof make a difference in the residual values?)?

    Also, what is the minimum credit score for Ally's top tier? 720?

    Thanks Car Man!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome chriswalter8.

    Ally's May base lease rate and residual value for a 36 month lease of a 2011 Chevrolet Equinox 1LT AWD with 12,000 miles per year are 1.8% and 52%, respectively.

    I think that Ally is fairly lenient in determining who qualifies for its best rates. Unless your credit is in really rough shape you should be able to take advantage of the aforementioned special lease rate.

    Car_man
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  • sheepdog1sheepdog1 Posts: 26
    Hey Carman, what are the latest base lease rates and residuals and lease incentives for the Equinox? Thanks.
  • daddyjakesdaddyjakes Posts: 14
    Hi Car Man,

    Can you give me the current figures for money factor/ residual for the Equinox 2LT with 4 cylinder, AWD, with 15K per year for 36 months. I live in NY but the dealer is in Paramus NJ. Sales guy swore "the mf is around 4% and the lease is brutal right now."

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey sheepdog1. Ally's current base lease rate and residual value for a 36 month lease of a 2011 Chevrolet Equinox LS AWD with 15,000 miles per year are 1.8% and 53%, respectively.

    General Motors is only providing a $500 cash incentive on leases of the Equinox 1LS through Ally right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings daddyjakes. Ally's current base lease rate and residual value for a 36 month lease of a 2011 Chevrolet Equinox 2LT AWD with 15,000 miles per year are 1.8% and 50%, respectively.

    That's a lot better than the 4% that the dealer mentioned.

    Car_man
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  • mkzm7478mkzm7478 Posts: 4
    soo i am getting an equinox. Lease

    i'm trying to undertand all of it but here is what i got. i was hoping you would let me know if i'm getting a deal or not.

    It's a 2011 Equinox LT1 with driver conv package.
    $26,710 is the agreed price..
    $2,000 at lease inception.
    $14,040 buy out at lease end.
    12K miles per year.
    monthly payments of $373.00
    39 month lease

    I would love to hear your opinion

    thanks in advance

    Mike
  • w7zardw7zard Posts: 2
    edited June 2011
    You may ask them to double check the numbers. I just agreed to a 2011 1LT FWD with Convenience Package at a price of $24815, 12k miles, residual price $13165, $367 per month for 36 months. I did get a $1000 targeted market money as a current Pontiac owner and $1000 my money. Lease is thru GM Finance not Ally however.
  • redls1redls1 Posts: 24
    Looking to lease a 2011 equinox lt with all star package.

    Msrp $25,965 Are there any incentives? Looking for 48 months at 15k miles a year. What can I expect. I also think my bank does leasing am I better trying to go through them and how would this work? my credit score is a 710.
  • CapeCodCapeCod Posts: 117
    I'm the kind of guy who buys a car keeps it for ten years because I so dislike dealing with dealerships. Today a salesman talked me thru all the good points of why I need a new Equinox. Nearly had me convinced, but then I asked what a lease rate would be. The same salesman suddenly tells me all the reason I do not want to lease. Can someone can help me sort out the truth from the BS. Immediately told me the residual % is 46% for 15k and 48% for 12k both 39 month terms. I had expected higher but what do I know. Then he told me I definitely did not want to lease through Ally. He claimed the Residual value was not the problem but rather Ally adds a $2500 fee on top of the residual because ALLY does not want purchases by those leasing vehicles. Any truth here as I had planned on purchasing at term's end? The salesman's negativity made me suspicious so I excused myself and left.
  • kyfdxkyfdx Posts: 29,140
    but rather Ally adds a $2500 fee on top of the residual because ALLY does not want purchases by those leasing vehicles. Any truth here as I had planned on purchasing at term's end?

    It's strange... but, true..

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  • rapman1rapman1 Posts: 3
    I need a smart answer here! I have a Home line of credit, charging a variable interest rate at 3%. I am thinking of selling my current car ($27,000), putting that money back to pay down the line of credit, and then leasing an Equinox at 1.8%. THat seems like the smart thing to do, but am I missing something here? My main goal is to get that LOC down, even if I have a monthly payment. Thoughts?
  • kyfdxkyfdx Posts: 29,140
    1.2% of $27K is only $325 per year in savings...
    Transaction costs will eat that up... Just the acquisition fee will be more than your first 18 months of savings..

    Selling your car for wholesale... leasing a new car at retail... then, in three years, more transaction costs when the lease is up...

    Amortize your current vehicle over 60 months, and don't give in to skipping principle payments, and that HELOC balance will drop in a hurry..

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited August 2011
    Keep in mind too that the interest on the HELOC is likely deductible, while the interest on a car loan or lease would not be. That should eat into some of the difference as well. You'd be better off taking the money that you're saving from not having a car payment and using that to pay down your HELOC a month at a time. That's what I would do anyhow.

    Car_man
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  • dangodango Posts: 5
    edited December 2011
    Does this sound like a fair 39 mo. lease deal?(many moving parts) Numbers straight from ACAR/GM Fin Lease Agreement:
    2012 Equinox 1LT w/ Driv Conv Pkg, Protect pkg, Cross rails
    MSRP $26785

    Only $352 1st mo pmt due at signing. Rolling Acq fee into Mo Pmt at 1.1%int
    Base Cap Cost 25744 (Negot price)
    Taxes 6.25% 808 (pd for GM Fin by me?Is that how they do it?)
    Acquis Fee 650
    Gross Cap Cost 27202
    Residual 14196 (53% based on MSRP)
    Money Factor .00046 (1.1% int rate)

    Total Rent Charge 742 ($19/mo)
    Total Depreciation 13006 (334/mo)(tax incl in here)
    Total Mo. Pmts 13748 ***$352.52/Month*** for 38 more mos.

    No addl Doc fee or Sec Dep charged. $350 due at Disposition.
    These actual numbers should help those looking at 2012 Equin 1LT leasing.
    Any issues observ or questions (dealer tricks) I'm overlooking?
  • dangodango Posts: 5
    Does this sound like a fair 39 mo. lease deal?(many moving parts) Numbers straight from ACAR/GM Fin Lease Agreement:
    2012 Equinox 1LT w/ Driv Conv Pkg, Protect pkg, Cross rails
    MSRP $26785

    Only $352 1st mo pmt due at signing. Rolling Acq fee into Mo Pmt at 1.1%int
    Base Cap Cost 25744 (Negot price)
    Taxes 6.25% 808 (pd for GM Fin by me?Is that how they do it?)
    Acquis Fee 650
    Gross Cap Cost 27202
    Residual 14196 (53% based on MSRP)
    Money Factor .00046 (1.1% int rate)

    Total Rent Charge 742 ($19/mo)
    Total Depreciation 13006 (334/mo)(tax incl in here)
    Total Mo. Pmts 13748 ***$352.52/Month*** for 38 more mos.

    No addl Doc fee or Sec Dep charged. $350 due at Disposition.
    These actual numbers should help those looking at 2012 Equin 1LT leasing.
    Any issues observ or questions (dealer tricks) I'm overlooking?
  • dangodango Posts: 5
    Wondering how much profit dealer booked on the above deal
  • Hi dango. This deal appears to be around $500 to $600 or so over dealer invoice and the lease rate looks good. I'd say that this is a decent deal.

    Car_man
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  • Carman,

    Do you have the 24 month residual and CCR for the Equinox 1LT and 2LT AWD and FWD with 10k miles per year?

    I assume the rate is still 1.1%?

    I am really interested in these GM (Ally) 24 month leases this month.

    Thanks
  • Hi does anyone know what the current money factor and residual vaule for the 2012 chevy Equinox LS lease for 36 months with 15k miles a year from Ally.
  • dangodango Posts: 5
    I leased a '12 Equinox LT in Dec. for 39 mos. with 12K mi/yr. Money Factor was .00046 and residual was 53%. For 15k, resid may be in 46% range? See above post from dango
  • Hi awoolford. Ally's current base lease rate and residual value for a 36-month lease of a 2012 Chevrolet Equinox LS AWD with 15,000 miles per year are 2.1% and 52%, respectively.

    General Motors is currently providing a $750 cash incentive on 36-month leases of the 2012 Equinox through Ally. I believe that there's an additional $500 on top of that on the LS trim level.

    Car_man
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This discussion has been closed.