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Chevrolet Silverado Lease Questions

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  • crewcabbcrewcabb Posts: 13
    well,dealers are calling me alot these last few days,more rebates,up to 6 grand or 72months,wouldn't taking the rebates be a better deal than the no interest? Also was looking at a SmartBuy,they said they have some great residuals rite now,but,interest rate ain't that hot,8.75%.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey crewcabb. I personally would go with the 0.0% financing for 72 months rather than a SmartLease or SmartBuy on the Silverado right now.

    Car_man
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  • CAR_MAN,

    What are the current lease numbers for a 2008 Silverado 1500 Crewcab 4X4 24 and 36 month leases 10,000 miles per year? My zipcode is 68101. THanks.
  • Hi indianajohns. Unfortunately, General Motors is no longer providing lease support on the Chevrolet Silverado. If you want to lease one, you would have to do so through an independent bank and chances are its lease program would not be very good.

    Car_man
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  • Car_man,

    Do you have the current lease rates and CCR for the Silverado LT and LTZ Crewcab 4WD for 36 months and 15k miles per year? Is GM still waiving the security deposit on leases of this vehicle?

    Thanks.
  • I sure do, autoboy19.

    Ally's current base lease rate for 36 month leases of any 2011 Chevrolet Silverado 1500 is 2.8%.

    Its residual value for a 36 month, 15k lease of a 2011 Silverado 1500 Crew Cab LT 4WD is 47%.

    The resid for an otherwise identical lease of an '11 Silverado 1500 Crew Cab LTZ 4WD is 45%.

    General Motors is currently providing a $3,200 cash incentive on leases of these trucks through Ally.

    Car_man
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  • Car_man,
    Do you have the current lease rates and residuals for a 2011 Silverado LT Extended cab 4WD for 39 months, both 12K and 15K miles through Ally Bank?
    Also is the $3,200 incentive still good on Ally leases?
    Thanks
  • Hi snowman5921. General Motors is scheduled to introduce its new November lease program some time today. Please feel free to post a reminder in this discussion for me and I'll gladly provide you with the details of the new program when I have them.

    Car_man
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  • Hi car_man. Have you heard anything about the November programs for the 11 Silverado? Residual value, money factor, cash incentives...anything you can provide is most appreciated. Thanks
  • snow26snow26 Posts: 24
    My local dealer is giving me. 39 month lease, 10000 mi per year, msrp 39640, allstar and conveneience and Z71 packages, off road package and rear view camera. My up front is 150 for tags, tax and first month. Payment is 428 per month. Program is with Ally bank.
  • Hi snowman5921. Ally's residual values for the 2011 Chevrolet Silverado vary depending upon which one of the myriad of trim levels you go with. If you provide me with the exact truck that you want I can give you an idea of what its residual value is like.

    For now I can tell you that Ally's current base lease rate for a 36 month lease of any '11 Silverado is 3.05%.

    Also, General Motors is currently providing a whopping $5,050 cash incentive on leases of the '11 Silverado through Ally.

    Car_man
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  • Hi snow26. The easiest way for me to evaluate this deal would be to look at this truck's selling price in relation to its MSRP. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is more difficult to tell how large a dealer discount you are being given and in turn if there is any room left to negotiate. Let us know what this truck's selling price is and I'm sure that either myself or another knowledgeable community member will gladly tell you what they think.

    Car_man
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  • snow26snow26 Posts: 24
    MSRP was 39640. Selling price was $38,500 Silveraso crew cab, LT with allstar and convenience and Z71.
  • Thanks for the additional information, snow26. This truck has a spread of at least $3,200 between its full MSRP and its dealer invoice price. In addition to that there is a massive $5,050 cash incentive on leases of this truck through Ally. That's a lot of room to play with during your negotiations. I personally would want a much larger dealer discount than this if I was in the market for this truck.

    Car_man
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  • I'm in a similar situation looking at an extended cab, 1500 LS, with the few extras. 36,645 MSRP, with the first number $3000 at signing, $465/mo. I actually laughed out loud at the dealership because Chevy's example is a LS, 32285 MSRP at 269/mo, with 1729 at signing 39months/39,000 miles. I am assuming the 1729 includes first month payment as traditional with leases. I knew right off they were using the MSRP as selling price.

    Of course they're trying to tell me Chevy's example is a stripped down 2 wheel drive LS, which I knew to be untrue. Something didn't jive with me. Then they came back with $3000 at signing and $410/month, with the price at dealer invoice, 34,000 and change. Still doesn't sound right to me, which I am now guessing they are still holding back the incentive of $5050 which will allow them to go way below invoice. Is that correct?

    In my math, and I may be off base. I am thinking if I pay the 1729, pay the taxes and the tags, I am thinking it should just be less than $300/month, roughly $290. If I roll in the taxes and give them $1729, $305/month.

    Car_man, could you help me out? All I know is when I leased my wife's Jeep a few years ago, they wanted $2000 down and $495/mo. By the time I put my jacket on to walk out they scrambled. Ended up, I gave them first payment & tag costs, $500. The "new" payment was $325/mo. and this is why I hate car shopping.

    Thanks

    Hutchy
  • Hi Hutchy. If the dealer is leasing you this truck at invoice then yes, they probably are pocketing the massive $5,000 cash incentive that is currently available on leases of it through Ally. If I was interested in leasing a Silverado right now, I personally would want a selling price of at least $4,000 below invoice.

    Car_man
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  • CarMan,

    Can you elaborate on the mentioned $5,050 incentive? Is this in lieu of any other incentive (i.e., $2500 or 0% Financing) or is this in addition to other incentives? Either way, that much of a Cap Cost Reduction makes for an incredible deal on a lease payment assuming the Money factor is still at 3.05%. How long is this in effect? I'm salivating right now...can you tell?
  • Hi just_ask. I certainly can. You are correct, the $5,050 cash incentive that General Motors is currently providing on leases of this truck is the only cash that is compatible with the special lease program through Ally. GM's normal consumer cash is not available on leases.

    The 3.05% lease rate is still in effect through the end of the year.

    Car_man
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  • Today I stopped by a chevy dealer in PA to speak with them about leasing Silverado LS Extended Cab MSRP 32960 with a money factor of .0005. Trading in a car to cover the 1700 odd dollars down.

    First asking price from the sales man was 378, last offer was 348. He used to US bank , not Ally and would not explain why he wouldn't use Ally when questioned. He also stated that I didn't qualify for all the incentives a mailer for GM owners, and USAA.

    Any help Car_Man would be appreciated. Are the lease incentives through Ally still available, and could you give me a price where you think i should shoot for. I was thinking 269+ Tax and Tags would put me around 295-300.

    Thanks
  • Hi db192psu. General Motors is supporting leases through US Bank as well as through Ally. Its lease cash is a little bit lower for deals through US Bank, $4,300 vs. $5,050, but its lease rate is better as well 1.2% vs. 3.05%. I can see why a dealer would want to run a lease through US Bank. Either way, GM is scheduled to introduce new incentives...including a new lease program some time tomorrow. Please feel free to check back with me later in the week for an update.

    Car_man
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  • dextercdexterc Posts: 2
    edited January 2011
    Hey Car_Man

    Any update on 2011 Crew Cab LT or LS Lease Details. Did the $5050 carry over in to the new year. Any major changes to the interest rate and residual value? I am looking for a 15K lease. I'm currently in a 2008 Ext Cab LTZ with 4 payments left on my lease.

    Thanks.
  • Hey Car_Man

    Any update on 2011 Crew Cab LT or LS Lease Details. Did the $5050 carry over in to the new year. Any major changes to the interest rate and residual value? I am looking for a 15K lease. I'm currently in a 2008 Ext Cab LTZ with 4 payments left on my lease.

    Thanks.
  • klrssklrss Posts: 25
    Incase someone was in the market for a new GM/Chevy product, I wanted to share some info for you to read before you buy.
    I bought a new 2010 Impala LTZ a few months ago. I have 6,000 miles on it now. I have been having this bad sulfur/rotten egg smell from the exhaust since about a week after I had it. I finally brought it into the shop and they said they found no issues, and it is probably bad fuel. I questioned the fact that I can run the same fuel in my 2011 Kia Sorento, and my 2009 Civic without the smell, so I don’t think it is the fuel. They told me there isnt anything they can do and again advised that I run a tank of quality fuel through it and see if that helps. So, I did what they said. I actually ran three tanks of Exxon through it, and one tank of shell, and the smell never went away. I called GM customer service and they asked if I was getting fuel at the same stations, or if the stations were close to each other. I told them yes, except the shell, which was across town. The gm customer service lady said " well, maybe the stations are getting the same fuel, and you might need to try other stations". I could not believe it! My car smells like rotten eggs...my two other cars run fine on the same gas, I tried higher grade gas like shell and Exxon and still no change, now they want me to drive all over town trying different fuels!!! I tried to get them to understand that I have NEVER had to worry about what fuels I use in any car that I have owned, and I have owned many GM cars in the past, and that they need to look at this Impala. So the customer service lady said to bring it back in and she would tell the dealer to look at it again. I take time out of my day, bring it in, I asked for a loaner and they didn’t provide one, which just added to the fun of it. They looked it over and called me and told me they still didn’t find anything wrong, and didn’t smell it this time at all. Wow! I can’t believe they didn’t smell it! ( or maybe it just looked better on the paperwork for them not to smell anything). I picked the car up and they gave me a TSB Bulletin that basically said that the smell is caused by high sulfur fuels and instructs the service dept not to replace parts because it is a fuel issue. I tried to get them to explain why my car smells, but other new GM cars do not, but they still said it was a fuel issue.
    So, my warning is that if you get a Gm car or truck that smells like sulfur/rotten eggs, GM will not fix this and you will have to endure the smell. I really didn’t expect to pay 25k for a car that smells horrible. I put my trust and money into GM/Chevy, and that was a mistake. Now I get to smell sulfur when I pull up to the drive-thu’s ( banks/Fast food), and have family/friends who follow me to places tell me my car stinks, and clients who I have in the car tell me " have that fixed, it is the catalytic converter"...etc.
    I would highly recommend that you go with a Kia, or Honda, or some other brand that actually can burn any fuel out there without it smelling. Gm seems to not want to disclose that their cars can not burn today’s fuel cleanly, because if they did, there would be many folks that would not buy...including me! I hope this helps someone who feels this service issue would be important to them if they purchased GM.
  • drlevdrlev Posts: 4
    edited January 2011
    Am looking for 36 and 39 mo residual %'s on '11 Silverado CrewCab LT based on 10K miles, 12K miles and/or 15K miles/yr leases. Also looking for current interest rates (money factors) for 36 and 39 mo leases.

    If I can get these figures, I can calculate my payments.

    Also, any current lease rebate info would be greatly appreciated...still wondering if it's $4300 thru Ally. Thanks.
  • drlevdrlev Posts: 4
    edited January 2011
    Answered my own question today:

    '11 CrewCab Silverado...36-mo lease = 49% residual on 15K miles, 51% on 12K miles; 53% on 10K miles/yr.

    39-mo lease is 1% lower on the residuals. Interest rate is 1.8% for now thru Ally bank.
  • Hello dexterc. General Motors' cash incentive on leases of the 2011 Chevrolet Silverado in January is now $4,400. The lease rate for a 36 month lease of this truck through Ally is 1.8%.

    Ally's January 36 month, 15k lease rate for an '11 Silverado 1500 Crew Cab LS or LT 2WD is 47%.

    Car_man
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  • stef3stef3 Posts: 25
    Hi Guys,
    I am trying to lease this truck for some time but I am tired already. My numbers never get close to what the dealer is asking.
    Here are the facts:
    VIN: 1GCRCSE0XBZ165202
    Sticker price including delivery $32460
    Terms: 36 months 15000 miles.
    In top of all rebates (would be good to know) I have an extra $1000 loyalty discount, and willing to put down $2000.
    No Credit score problems at all.

    The dealers offer after 1 week of back and forth is $497/mo with $1555 down - In my books this is a little too much and I am tired of negotiating.

    If somebody would guide me in the right direction I am ready to take this truck tomorrow.

    Thank you ..
  • stef3stef3 Posts: 25
    The truck is in california, sales tax 8.75%
  • drlevdrlev Posts: 4
    edited January 2011
    That number is CRAZY! I just got a $38.5K '11 LT for $379/mo, including the 9% tax...no extra money down.. I paid acq. fee, 1st mo, and title, registration, minor fees, up front....total $1445 at signing, 10K miles/yr, 36 mo.

    Are they taking the $4400 GM lease incentive off your capitalized cost?

    I did a rough estimate (taking $2K off MSRP), then another $4400 lease incentive, using 15K miles, 47% residual, 36-mo, 1.8% int and got $360/mo, with no extra down, using 8.75% tax.

    With an extra $1K off for GM loyalty, your payment should be around $329/mo, with tax, NO extra money down.

    I think your dealer is forgetting the $4400 or not telling you about it. Without it your payment goes to $486/mo...$465/mo if only giving you the $1K in GM loyalty. You can crunch the #'s yourself at:

    http://www.leaseguide.com/calc.htm
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