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2013 and earlier Chevrolet Tahoe Lease Questions

CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
edited July 2014 in Chevrolet
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Chevrolet Tahoe. Thanks.

Car_man
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Comments

  • dardson1dardson1 Member Posts: 696
    Are you answering SmartBuy questions as well. Here in Texas because of the weird way they handle sales tax, hardly anyone leases. It works better to use a SmartBuy. Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dardson1. Unfortunately I do not personally keep tabs on General Motors SmartBuy program. I have actually heard from some people that I know at GM that now that the vicarious liability laws that used to exist in New York have been done away with they will eventually be reintroducing leases there and phasing out the SmartBuy program. Balloon notes will probably stick around in markets that they have traditionally been available in, like Texas though. Sorry that I could not be of more help.

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  • soxfan1452soxfan1452 Member Posts: 2
    is it possible to pay in advance for a 2 year lease?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi soxfan1452. Yes, many banks, I believe including GMAC, allow consumers to pre-pay leases. Consumers still have to pay interest on pre-paid leases, even though they are giving the bank all of their money in advance. Host banks provide some sort of reduction in their normal lease rate or money factor to consumers who pre-pay leases though.

    Car_man
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  • silver636silver636 Member Posts: 4
    Hey Car_man, what are the Mony factor and residual on a 2006 tahoe 36 month lease with 12K annual mileage?

    Thank you.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi silver636. General Motors just introduced a new lease program on this truck today. If you were to lease a 2006 Chevrolet Tahoe through GMAC right now for 36 months with 12,000 miles per year, its base lease rate and residual value should be 3.5% and 57%, respectively. As you can see, GMAC publishes lease rates instead of money factors for the vehicles that it leases. You can convert lease rates into approximate money factor equivalents by dividing them by 2400. On an interesting, somewhat related note GM has already published a lease program for the all new 2007 Tahoe.

    Car_man
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  • pdurantpdurant Member Posts: 18
    Hey Car_man,

    Can you please post the lease program for the 2007 Tahoe? I am interested in 36 and 48 month Money Factors (or Leare Rates in GM's case) and Residuals.

    Thanks!

    Philip
  • pdurantpdurant Member Posts: 18
    Hey Car_man,

    In addition to the 2007 Tahoe info I requested in my previous post, can you also please post the lease information on a 2006 Chevrolet Tahoe Z71. I would be interested in residuals and money factors (or lease rates) for 36, 39, 42 and 48 months at 15k miles per year.

    Thanks for all your help!

    Philip
  • 87rocket87rocket Member Posts: 1
    My wife priced a 2007 Tahoe LT3 with center row buckets, sunroof, 20" wheels, power liftgate, heated second row,sensing wipers, heated washer fluid for $45655 MSRP, $39975 GMS. Money factor 0.00125 and a residual of 0.66 at 27 months. Is this a fair deal. I think it is but checking.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I sure can, Philip. Here you go. If you were to lease a 2006 Chevrolet Tahoe through GMAC right now for 36 months with 15,000 miles per year, its base lease rate and residual value should be 7.5% and 60%, respectively. the numbers for an otherwise identical 48 month lease should be 7.5% and 52%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Philip. As far as the 2006 Chevy Tahoe goes, if you were to lease one through GMAC right now for 36 months with 15,000 miles per year, its base lease rate and residual value should be 3.5% and 54%, respectively. The numbers for an otherwise identical 48 month lease should be 3.5% and 46%. If I was in the market for an '06 Tahoe, I personally would finance it through GMAC or an independent bank rather than lease it. You can finance it through GMAC at an amazing 0% for up to 72 months plus $500 customer cash. If you opt to get a loan through an independent bank, you can take advantage of the $5,500 dealer cash that is available on this truck right now and the dealer cash that is out there to buy it for well below invoice.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    This sounds like an excellent deal to me, 87rocket. Not only were you able to get the GMS price on what is debatably one of GM's hottest products right now, but somehow the dealer that you are working with is calculating your lease payment using a money factor that is well below the one that GMAC is offering on this model right now. A money factor of .00125 is equivalent to an interest rate of around 3%, versus GMAC's normal lease rate of 7.5% for this truck. What bank is this lease being run through?

    Car_man
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  • tmgeneraltmgeneral Member Posts: 2
    Dear Car Man

    I just received a quote on a lease for a 2007 Tahoe LTZ with a sticker of 50,250. Here are the terms

    36 months
    nothing down
    GMS employee discount price $43,651
    Residual value....approx 60%
    Interest rate 7.5%
    6% sales tax in Michigan
    $696 per month 15m miles a year
    $656 per month 12m miles a year

    This seems awfully high to me. With a residual value of 60% ($30,150) and a base cost of $43,651, even at the interest rate you would think my payments would be under $600 per month. Am I missing something?
  • slightboslightbo Member Posts: 15
    Hi tmgeneral,

    I'm not sure how they are calculating in the 12K or 15K mileage, but taking
    50,250 x .60 = 30,150
    43,651 - 30,150=13,501/36=375 per month
    (43,651 + 30,150)x .00313 (this is your 7.5% x 2400)=230.99 interest per month
    375 x .06 (tax)=22.50 in tax per month

    should equal $628.49 per month, but again then they add in the mileage and that might raise it to what you are being quoted. It is because the interest rate is pretty bad, although the residual is good, see if they can check with other banks, but of course then their residual might be low.
  • slightboslightbo Member Posts: 15
    Hi 87 Rocket,

    I would also love to know what bank the rate of .00125 and .66 residual your wife was quoted from. I was quoted a residual of .60 and terrible money factor of .00313 (7.5%)through GMAC on a 2007 tahoe lt3 package and they are telling me that other banks haven't picked up the lease program for the 07 yet, would love to hear about which bank you got that quote through! Thank you!
  • tmgeneraltmgeneral Member Posts: 2
    Dear Rocket

    I would really like to know what dealership quoted you a 3% lease factor. I'm shopping for a 2007 LTZ as we speak and haven't seen anything under 7.5%
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tmgeneral. I'm surprised that dealers are accepting GMS pricing on the 2007 Tahoe already. That sure didn't take long. The lease rate and residual value that you were quoted are correct. Using these numbers, an MSRP of $50,250, and a selling price of $43,651, I estimate that your 36 month, 15,000 mile per year, zero down, pre-tax monthly payment should be around $606. With only 12,000 miles per year, that payment would drop to around $569. You should ask what this truck's payment is before tax and compare it with the figures that I came up with.

    Car_man
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  • plutz1plutz1 Member Posts: 4
    I can confirm that at least some dealers are willing to lease the 2007 Tahoe at GMS pricing. I had a dealer offer at the following: 39 months, 15,000 miles a year,$715 a month, with all taxes (8.25% in NY) rolled in as well as a credit to me of $615 to cover an existing lease payment, which in effect would have almost offset my first payment and registration fees. In other words the only thing I wuld have to come out of pocket for is $200.

    The deal broke down when the dealer advised me after we agreed on the terms that it could not offer GMS pricing for a vehicle leased to a company, which I was going to do. Strangely enough, I had advised the dealer of this in my initial quote request a few weeks earlier that my lease would be a company lease. I registered a complaint with GM but GM refers its complaints back to its dealers so you know how far that went.

    In talking with a few other dealers my sense is that they are waiting for GM to start offering incentives on the vehicle. The 7.5% interest rate is killing them.

    I have 3 months left on my existing lease so I have time to wait. All in all this is a great vehicle and I will probably end up leasing it - I think with incentives this vehicle will really take off. I haven't purchase or leased an American car in 20 years but this one could bring me back.
  • plutz1plutz1 Member Posts: 4
    An addendum to my lease quote above. The Lease quote was for a fully loaded LTZ, with navigation, rear entertainment and remote camera. List price was about $52,000. Anybody else do better on a quote?
  • plutz1plutz1 Member Posts: 4
    The pricing/leasing discussions on this board are pretty sparse. Are there any other boards people can recommend?
  • silvertributesilvertribute Member Posts: 8
    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 Member 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 Member Posts: 38,514
    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.

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  • silvertributesilvertribute Member Posts: 8
    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 Member 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 Member 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
  • jboogie11jboogie11 Member Posts: 1
    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 Member 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 Member Posts: 38,514
    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 Member Posts: 38,514
    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 Member Posts: 38,514
    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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  • escaladeextescaladeext Member Posts: 1
    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 Member 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 Member 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 Member 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 Member 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 Member Posts: 5
    If u don't mind my asking how did u get the 4.5% lease rate?

    Thanks

    Dave
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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.

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  • gatorb8gatorb8 Member Posts: 2
    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 Member 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.
  • sgtslatesgtslate Member Posts: 16
    Pardon me Darenc7, "58 month lease"?? Did you mean 48 month lease? I hope you are not going for a 58 month lease. I think that would be foolish. Usually the advantage of leasing is staying within the warranty period.
  • darrenc7darrenc7 Member Posts: 2
    Yes, I did mean a 48 month lease.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello gatorb8. A base 2006 Chevrolet Tahoe 4WD has a spread of just over $3,100 between its full MSRP and dealer invoice prices. You are being given a discount of $3,038 on the truck that you are considering. This looks like a very good price to me, especially considering the fact that this is such a new model. Using the numbers that you provided in your post, an MSRP of $44,475 and a selling price of $41,437, and GMAC's actual lease program I estimate that this truck's 36 month, 12,000 mile per year, zero down, pre-tax monthly payment should be around $590. With this lease, you would have to pay your truck's first month's payment of $590, a $600 security deposit, GMAC's $595 acquisition fee, and any required state taxes or fees at lease signing. The payment that you were quoted is higher than this, but it includes sales tax. Just make sure that the dealer you are working with is using GMAC's base lease rate of 7.5% to calculate your truck's monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Whew, I thought that you meant a 58 month lease as well. A 48 month lease is long enough :D . The selling price that you were quoted for this truck is very attractive, as long as it is not taking your trade in into account. There's nothing wrong with trading in your current truck when leasing, however it would be in your best interest to have the dealer that you are working with cut you a check for it instead of using the proceeds from it as a capitalized cost reduction for your lease. Consumers who make large cap cost reductions when leasing risk losing them if their vehicle is totaled in an accident or stolen and never recovered.

    Let's use the prices that you were quoted and GMAC's actual lease program to calculate a lease payment on this truck. According to my calculations, if you were to lease a 2007 Chevrolet Tahoe with an MSRP of $49,238 and a selling price of $44,224 through GMAC right now for 48 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $580. With a $5,000 down payment, which I highly advise against, this payment would drop to around $461.

    Car_man
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  • garrison93garrison93 Member Posts: 1
    Car_man,

    Help me out and review this and let me know if this is a good deal or not:

    2007 Tahoe 2WD LTZ fully loaded

    MSRP with all options I have selected is: $49,270.00 which includes the destination. After all rebates the final sales price is $42,000.00.

    Using the GMAC Smart lease this is the info he gave me:

    48 months, 12K per month, $5000 down payment and nothing else due at signing.

    Monthly payment: $464.07 including 7.0% tax for my county in Florida.

    He said at the end of the lease I could do the same as the GMAC Smart Buy and purchase with a final ballon payment of $27,109.50

    I don’t know the residual or the interest rate?

    Also the dealer told me that if I do decide to keep it at the end of the lease and finance the remaining that I don’t have to pay Tax, Title or Tags, so is it all included in this lease already? All I have to pay is sales tax again.

    I know you say never make a down payment, but this keeps my payments low and even with out the down payment. I would have to finance more on the ballon on the end, so it kind of works out I just pay about $1,100 more in interest buy going with the lower payment.

    So is this a good deal????
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi garrison93. Let me begin by saying that $5,000 is way too much money to put down when leasing. Consumers can and should lease any vehicle that they are interested in without making any sort of capitalized cost reduction. I always discourage community members from making large down payments on leased vehicles because if their vehicles are totaled in an accident or stolen and never recovered their down payments essentially disappear.

    Now let's take a look at the selling price that you were quoted for this truck. The truck that you described probably has a spread of a little over $5,000 between its full MSRP and dealer invoice prices. In addition to this spread, GM is providing $2,000 bonus cash on '07 Tahoes right now. This gives us a little over $7,000 to play with. You were quoted a discount of $7,270 on the truck that you are interested in. This price looks very good to me. Using the prices that you mentioned in your post, an MSRP of $49,270 and a selling price of $42,000, I estimate that this truck;s 48 month, 12,000 mile per year, zero down, pre-tax monthly payment should be around $492. A $5,000 capitalized cost reduction would drop this payment to around $375, but again you would be better off not putting so much money down. I used a lease rate of 6.3% and a residual value of 55% to calculate the above payment.

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  • roncoemdroncoemd Member Posts: 3
    Dear Car Man-
    I am entering into a lease of a 2007 Suburban LT3 with the options of second row captain chairs, third row bench seat, power liftgate and 20 inch chrome wheels. MRSP is $44,790 and purchase price is $38,800. Local tax rate 8%. The price reflects all dealer and customer incentives. Mileage is 20,000 per year and lease rate is 6.3%. No money down. My GMAC lease payment is going to be about $659 per month. Is this a good deal? What is the current GMAC residual for such a vehicle? What other expenses should I rightfully expect to pay at signing? Thanks, Ron
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings roncoemd. The truck that you described has a spread of around $4,000 between its full MSRP and dealer invoice price. Furthermore, General Motors is currently providing $2,000 bonus cash on it. You are being given a discount of nearly $6,000 on this truck. I suspect that this is pretty close to dealer invoice, which is a very good deal. I believe that GMAC's base lease rate for this truck is 6.3% as well. Using the prices that you mentioned in your post, an MSRP of $44,790 and a selling price of $38,800, I estimate that this truck's 36 month, 15,000 mile per year zero down, pre-tax monthly payment should be around $505. 15,000 miles per year is the highest mileage allowance that GMAC publishes residual values for. This truck's 36 month, 15k residual is 60%. If you need to drive more miles than this, you would have to purchase them on a per-mile basis. With this deal, at lease signing you would have to pay your first month's payment, a security deposit equivalent to your truck's payment rounded up to the nearest $25 or $50 increment, GMAC's $595 acquisition fee, and any required state taxes or fees.

    Car_man
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  • nick05nick05 Member Posts: 3
    This is what I got on my final negotiation for a 2007 Tahoe:

    This is the GMAC Smart Buy...

    A good deal???...

    MSRP: 42,284
    Sale Price: 39,536
    Cash Down: 2,500 (T/T/L is $2556... see the FYI below)
    Rebate: 3,000
    Adj Cap Cost: 34,036
    Rate 8.3%
    Balloon (residual) 22,410.52 (53%)
    Monthly Payment: 524.49

    (A regular lease had a lower rate, but a residual of only 40%)

    FYI: In the state of Texas, Sales Tax for an auto lease is paid on the full sale price of the vehicle, not the lease payments. (Plus, you pay interest on the sales tax if it is rolled into the lease payments.) Additionally, if you decide to purchase the vehicle at the end of the lease term, you must pay sales tax AGAIN on the remaining balance (a second sale). Double-Taxed! Yes, this is the law in Texas. (I think Illinois is similar). So, in Texas, if you have any possible plans to keep your car, don't lease it!
  • scooter650scooter650 Member Posts: 1
    Can anyone tell me if the lease residuals have changed effective today? I have been negotiating a very good deal with two local dealers on a LT3 loaded, getting $7,300 off MSRP with rebate. I noticed the GMAC lease calculators show the payment much higher today than yesterday, has something changed?
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