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Buick Enclave Lease Questions

kyfdxkyfdx Posts: 29,827
Ask your Enclave lease questions here!

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Prices Paid, Lease Questions, SUVs

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  • ody02tjkody02tjk Posts: 66
    Has any one gotten any quotes on residual percentages for the new Enclaves? I just left a dealer this evening, and they told me 70% at 2 years, and 63% at 3 years. Can anyone confirm these rates? These seem quite high.
  • rishoppingrishopping Posts: 1
    My residual percentage was around 60% on a 39 month lease of a fully loaded CXL
  • lwolf99lwolf99 Posts: 73
    Hello. I am looking for a CXL fully loaded (except no DVD). I am looking to get a 24-month lease, with 15,000 miles per year.

    Does anyoen have any idea of what I coudl expect for the Residual or the money factor?
  • ody02tjkody02tjk Posts: 66
    I have gotten quotes (I have tried to buy a CXL, but no one has the color I want) exactly equipped as you have stated, and 2 dealers have told me 63% residual at 3 years, with 12K miles. They ahve also quotes a rate of 7% for the money factor.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello ody02tjk. GMAC's current base lease rate and residual value for a 24 month lease of a 2008 Buick Enclave with 15,000 miles per year are 7.2% and 67%, respectively. The numbers for an otherwise identical 36 month lease are 7.2% and 60%. If you were to lease this truck with only 12,000 miles per year, its 24 month residual value would be 1% higher and its 36 month resid would be 3% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings lwolf99. GMAC's current base lease rate and residual value for a 24 month lease of any 2008 Buick Enclave with 15,000 miles per year are 7.2% and 67%, respectively. As you can see, GMAC publishes lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400.

    Car_man
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  • lwolf99lwolf99 Posts: 73
    Thanks very much. I am going to shoot for a test drive this weekend.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem, lwolf99. Make sure to let us know how everything turns out.

    Car_man
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  • griz7674griz7674 Posts: 3
    I have been offered a Buick Enclave for about $1000 under invoice (I'm eligible for GMS pricing). I am about $4000 upside down on my F150 and the sales person is telling me that the best way to go is to lease the Enclave. I average 22,000/yr so I am hesitant here. I am waiting on the numbers but for what little I know about leasing, I would think, especially being upside down, that buying outright is still the way to go. After you add in the $4000 loss in trade, I would be about $1000 above MSRP. Thoughts? Thanks!

    Bob
  • jragosta1jragosta1 Posts: 49
    So what would I expect to spend on a 39 month lease, $0 down for an AWD CXL?

    I've found that leases are often poor deals unless the manufacturer has a special. Any specials on the Enclave?

    Thanks.
  • jimjackjimjack Posts: 43
    Bob,
    What is GMS pricing?
  • wlbrown9wlbrown9 Posts: 838
    GM Supplier Pricing. If you work for a company that is a 'supplier' for GM, you could have the plan available. Your Human Resources department will be able to give you your company ID and set up access for you. Other manufacturers have similar programs.

    Benefits of the program are usually getting pretty low if not rock bottom pricing without having to deal real hard. Sometimes you also don't have to pay a DOC fee to the dealer.
  • jimjackjimjack Posts: 43
    Thanks Bob,
    Hmmm, Human Resource dept eh?. Ooops, I'm a self emolyed Contractor.
    I'm all the resource I've got in that dept.
    Still looking for anyone that has hooked up their Acadia, Enclave, Outlook to a boat that is 4k lbs. And how did it do..
  • kyfdxkyfdx Posts: 29,827
    Actually GMS is employee pricing...

    The supplier pricing has a different designation (which escapes me at the moment).

    I know.. counter-intuitive, but there you have it..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • lwolf99lwolf99 Posts: 73
    Car_Man and others,

    What are your thoughts on this quote I received from a dealer...

    2008 Buick Enclave, CXL, AWD, Power Sunroof with 2nd row skylight, Driver Conf Pkg, Luxury Pkg, 19" chrome wheels, entertain pkg #4, trailering pkg, wheel content credit, cargo net, cargo shade, $735 destination charge, cocoa metallic exterior, cashmere interior.

    Info from dealer quote:
    MSRP = $45,465.00
    Vehicle Cost = 42,404.63
    Profit = $1,352.14
    Sell price = $43,756.77
    Lease Aquisition fee = $595.00
    Cap Cost = $44,351.77
    Fees = $177.50
    Money due at inception = $1079.00 (1st pmt $901.50+177.50)
    Payment Info = $827.06 base + 74.44 tax = $901.50
    Retention Rate = 7.70000
    Reserve Rate = 0.00000
    Disclosed Rate = 7.70000
    Odometer = 800 miles
    Term = 24 months
    Mileage = 15,000 per year
    Residual = 67%
    Residual = $30,381.55

    Some of my thoughts:
    - My calculation of invoice price(using Edmunds) = $41668. So I am not sure where he is getting his 42,404.63 cost figure. Seems to be high by $736. At first I thought that was Dest.Chg., but then I verified that was already included in by Invoice Price calc. Are there advertsing fees maybe?
    - I had another (more detailed) quote from a dealer and it showed $450 for LAM Dealer Contribution and $225 LAM Group Contribution. Are they advertsing fees?
    - Even if his cost figure was right, $1352 over invoice seems high to me, even for a new vehicle. Am I right or am I expectign too much, at this time?
    - $1,000 Conquest Cash should apply to me, so his $1352 actually becomes $2352 profit, right?
    - does the rate and monthly pmt seem right to you? Is he saying that the rate is 7.7%
    - 800 miles seems like it has been used as dealer demo. Should I expect a better price for a "new" vehicle that already has 800 miles on it?

    Overall, I do want to get an Enclave, and I do want to get one in the next 2 weeks- to be able to take advantage of the $1,000 Conquest - since it is basically free money.

    I am willing for the dealer to earn a reasonable profit - maybe $500 over invoice or so, plus his holdback and stuff. But I get the feeling of beeing taken to the cleaners on this offer. What do you think?

    Thanks for your time, and your thoughts.
  • ody02tjkody02tjk Posts: 66
    I think you need to find another dealer.

    When I was shopping at the end of last month, at least 3 local (MD) dealers were willing to sell me a nearly identical Enclave as yours at invoice price. The 7.7% sounds a little high (if your credit score is below 700 they may be raising the rate above 7.2% I was quote).

    Also, the dealers I dealt with were quoting a 36 month residual of 63%, so the 67% sounds a bit low. Using the Edmunds Lease calculator (http://www.edmunds.com/apps/calc/CalculatorController?pmtcalAction=lease_calc) I came up to a payment of $727.17 before taxes. The deal you have been shown seems high. For the equipment you specified, I came to an invoice of $41679. Given that it already as 800 miles on it, I would start at a price below invoice. Even at invoice, you should get a price of about $40679 (invoice less the conquest rebate).

    They seem to be gauging you in several ways, first the price, then the lease payment. Negotiate the price first,and then get a lease quote from a leasing company.

    Now that you can go on GMBuyPower.com to see what OTHER dealers have the exact car you want. I would recommend shopping around until you find the car you want. I recall seeing several in the Cocoa/Cashmere combination, so if you are near a metro area, you sould be able to find one quickly. With the end of the month approaching, I would shop around as there will be several willing to make deals.

    I did all of my shopping via the phone and Email. I found the internet managers at most dealers were more willing to negotiate as well.
  • lwolf99lwolf99 Posts: 73
    ody02tjk,

    Thanks for the thoughts. My credit score is 790 - should I should qualify the best rate, I beleive.

    I am located near Pittsburgh, PA. I have looked at inventory on buick.com previously, and the GMBuyPower site that you recommended. There seem to be a few that are close, but the problem seems to be the Trailering Pkg. This seems to be the only dealer that has one with the Trailering Pkg - which I do want.

    Like you suggested, I will first focus on the sell price. I would be willing to go up to $500 over invoice, plus the Conquest Rebate, which would then get me to $500 under invoice. I would be happy with that deal. But, of course, I am not willing to do $2300 over invoice, which is what he seems to be offering.

    If he can agree to that, then I can turn to negotiating the lease payment. Car_man previously stated about 2 weeks ago that 24-month lease residual would be 67%, and rate of 7.2%.

    Can you explain how I turn the rate into calculating the lease pmt amount?

    Thanks.
  • lwolf99lwolf99 Posts: 73
    >>>Can you explain how I turn the rate into calculating the lease pmt amount?

    Nevermind this question. The Lease Payment Calculator shows the info.
  • wlbrown9wlbrown9 Posts: 838
    I was thinking GSM was the supplier discount program. Anyway https://www.gmsupplierdiscount.com/ip-gmsupplier/ is the site to check out. Look under FAQs at the top and it explains more about the program.

    www.gmfamilyfirst.com looks to be the GM employee site. Interesting that a GM employee can get up to 6 authorizations per year in 2007. Looks as if they can give an authorization to a friend to allow the Supplier Pricing.

    What is the GM Supplier Discount for Friends?
    Individuals who receive GM Supplier Discount for Friends pricing authorization numbers can enjoy the same preferred pricing that GM suppliers enjoy.
    Back to top

    Who is eligible to share the GM Supplier Discount for Friends pricing?
    GM active and retired employees.


    I did hear a month or so ago that one of the $1000 incentives was NOT allowed under the Supplier Discount on maybe the Acadia so some folks were getting near supplier pricing plus the discount for a better deal.

    We purchased under the Supplier Discount program in 2004 but I think the program has changed a little since then. But it is really a good way (if you are eligible) to get to rock bottom pricing without having to really wheel and deal to get there. In 2004 on benefit was that they could not charge a DOC fee so since that was preprinted on the form they lowered the price that amount so it would offset that.
  • kcoreykcorey Posts: 130
    I hope this can be of some help...
    I have been looking at the Enclave for over a month. My wife and I decided to lease one when our present lease on a 2005 Terraza expires in January 2008. We wanted the Enclave in Red Tint, with only 2 options...no one had it (looking at over 25 dealers in the NY Metro area). Finally, we decided to order one. As it was explained to us, Buick MAY (and MAY is a gamble) have some sort of "rebates" available when our car comes in (in about 8 to 10 weeks). My point is, that we will have the car we want, with the options and color we want. True, we may be paying slightly more than we had wanted to, but considering that we will be leasing it for 39 months, it may (there's that word again) not really be any more.
    Good luck in your search.
  • lwolf99lwolf99 Posts: 73
    ody02tjk,

    The Sales Mgr is holding firm at $1300 over invoice price for the Enclave that I was looking at. Since it is a demo model, with 800 miles already on it, and too much over invoice, I walked away. Too bad, it would have been a great vehicle.

    Another dealer located one for me, same options except it has entertainment pkg #3 instead of #4. If he will sell for anything up to $500 over invoice, I will take the deal.

    I hope to get one on the next week, to take advantage of Conquest Cash.
  • lwolf99lwolf99 Posts: 73
    Can anyone comment on Advertising Fees. I saw a dealer invoice for an 08 Enclave CXL AWS in the Pittburgh, PA area, and there were two additional items on the invoice that was not expecting.
    - $450 for LAM Dealer Contribution
    - $450 for LAM Group Contribution

    Are these Advertising Fees? Should I expect to include this amount in any calculations for dealer invoice price?

    Thanks in advance.
  • gonzoegonzoe Posts: 5
    On a 36 month, 15k miles per year fully loaded CXL in NY with an excellent Credit rating and $0 down. Any help is appreciated as I'm trying to line up my options as my X5 lease is coming to an end.
  • jimjackjimjack Posts: 43
    You should stick to your guns on your offer. He's asking too much. Your credit is great and the best we get out here is 6.5 on a purchase (which is what I'm doing). Have you done the dealer location for quotes on this site? Get these guys to scramble for your business. Put them up against the other and tell the one dealer you have a better offer whether you do or not. Get the car at invoice plus your conquest of 1K especially since it has the Demo tag on it w/ the miles. This guy is arrogant for sure. Is he the top guy or just a sales person. Avoid those regular guys and go directly to the Fleet or internet person. Do not pay for any contributions. You can do that over the Christmas season.
  • ody02tjkody02tjk Posts: 66
    Lwolf99: You need to stick to your invoice offer, or go with the other dealer. I think they will continue the Conquest rebates, as that $ is crucial to attracting buyers to the vehicle. I would recommend looking out side your metro area to other dealers in Central PA, Eastern Ohio, or MD to see what they have in stock. At the end of last month, when I was shopping hard, each of the 4 I was dealing with told me they would sell at invoice for what they have in stock. I hate to say it, but these dealers will DEAL when they know they have something to sell. Check around on GMBuyPower to see which dealers have exactly what you want. Also, with the July holidays coming up, as well as the end of June, you should be able to get the deal you want. These places need to sell some units. My closest dealer (in Cockeysville, MD) still has the same 2 CXL Enclaves (in Red and Silver) as when I tried to buy 4 weeks ago. There is demand for the Enclaves, but they know buyers expect invoice deals on GM cars.
  • lwolf99lwolf99 Posts: 73
    I exchanged a few more emails today with the internet sales guy. Working with the sales mgr/owner, we agreed on a price of $200 over invoice, which is okay by me (down from their original offer of $1300 over invoice). The model has the exact options that I want. The problem seems to be the Trailer Hitch. No one else in Pittsburgh areas seems to have ANY with a trailer hitch. I had 4 dealers looking, and also checked myself on gmbuypower.com and buick.com. So, since they one with the options that I want, I am willing to pay $200 over invoice price - even it it has a few miles on it. I feel okay with the deal.

    Now I have to turn my attention to the lease figures. They originally quoted me 7.7% for the lease rate. I have a 790 credit score - so I should be able to get the best rate available. Car_man reported a few weeks ago that GMAC was offering 7.2% on a 24-month lease.

    My questions are:
    1) is 7.2% pretty much the best rate I should expect?
    2) should I insist they use GMAC, or does anyone recommend any others?
    3) what is a reasonable lease aqusition fee to pay? They had quoted $495, but it has been a long time since I leased, so I am not sure what is a good or bad deal.

    As always, thanks in advance.
  • ody02tjkody02tjk Posts: 66
    Based on your figures from your prior posts, I came up with the following costs from the Edmunds lease site:

    MSRP = $45,465.00
    Vehicle Cost = 42,604.63
    Sell price = $42,604 (Invoice plus $200)
    Lease Aquisition fee = $495.00
    Fees = $177.50
    Sales Tax (assuming 7% in Pittsburgh)
    Customer Cash Rebate: $1000 (Conquest Rebate)
    Cash Down Payment: $0
    My Trade-In Value: $0
    Lease Term (months): 24
    Lease Residual Value: $30381
    Money Factor: .003 or 7.2%
    Miles Driven per Year: 15000
    Acquisition Fee: $495
    Security Deposit: $0
    Total Amount to be Financed: $42,521
    Monthly Payment (tax included): $775.25

    Your up front $ should only be the first month's payment and the $177 fees. With your credit scores close to 800, they should give you the best lease rate GM offers. Also, shop around with banks or credit unions you do business with, and ask for their lease rates before you go back to this dealer. FYI, when I was negotiating, they told me that I did not need to place a security deposit, since my credit scores were above 700. Also, with at 750 credit score, I was quote 7.2% lease rate. This statement came from 4 different Buick dealers. I would also advise that since it is the day before month end, you call and inform them you will take delivery tomorrow, ONLY if they meet your price. If they try to hit you up for any more $ then quoted above, then walk. GM will have more deals in the coming summer months.
  • bsc1114bsc1114 Posts: 25
    Edmunds gave a qoute of $557 for a 3 year lease on a $40,220.00 Enclave with no money down. Does anybody think this is a good price? Thanks
  • lwolf99lwolf99 Posts: 73
    Carm_man, ody02tjk and others,

    I have seen GMAC Lase Rates of 7.2% for 24-month lease, assuming excellent credit score.

    Would that same rate apply for a 39-month lease?
  • lwolf99lwolf99 Posts: 73
    To all,

    I just got my Enclave. CXL, AWD, Cocoa Metallic, Luxury Package, Drivers Convenience Package, Entertainment Package #4, Trailering Package, and Dual Moonroof.

    It was a dealer demo, with about 800 miles on it. I agreed to $200 over invoice, minus $1000 Conquest Cash Rebate, equals $800 under dealer invoice. I got a SmartLease from GMAC, 39-month lease, with 59% residual.

    It was a dealer demo, with 800 miles on it. I wished I could have got one with zero miles on it, but there were absoletely no Enclaves in inventory in the Greater Pittsburgh, PA area, that had the Trailering package. I found a few similarly configured ones withotu the Trailering package, but I wanted the hitch. I could have ordered, but the Conquest rebate was ending, so I took the deal. Dealer was nice (Budd Baer, Washington, PA). They originally offered $1300 over invoice, and 7.7% lease rate. When then came down to $200 over invoice and 7.2% lease rate, I agreed.
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