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Chevrolet Cruze Lease Questions

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    moe35moe35 Member Posts: 8
    Hello all,

    Is there currently any lease support on the Cruze? If so, I would appreciate Money Factor and Residual for 36 months and 12K per year.

    Thanks!
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello moe35. General Motors is indeed providing lease support on the new Cruze right now. Its current program is scheduled to run through the end of today November 1st. Ally's current base lease rate and residual value for a 36 month lease of a 2011 Cruze LS with 12,000 miles per year are 1.35% and 55%, respectively.

    GM is scheduled to introduce its new November programs some time tomorrow.

    Car_man
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    krobin126krobin126 Member Posts: 1
    i quote from local dealer the detail about cruze yesterday,

    "$200 a month with approx.
    $3500 total due at signing (including tax, title and license)."

    The price is way too high for me ,with that i can get a 2011 camry!
    anybody have lease information want to share?
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    runofkingsrunofkings Member Posts: 9
    LTZ Lease Rate (Apx. $24k) Quoted by CA dealer:

    $2000 down (includes registration, taxes, etc.)
    15k miles/yr
    36 mo
    $353.39/mo
    2% interest rate.

    Thoughts?
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    CapeCodCapeCod Member Posts: 117
    Current Cruze deal for current owners...
    39 month $159 $899 down...
    How would the payments change if I took another $2000 off thru GM card ?
    Then subtracted another $2000 with a trade in ????
    What if I bumped it up to 15000 miles a year?
    In general are 39 month lease a plus or minus vs. 36 month leases?
    thanks.
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    thandamilkthandamilk Member Posts: 18
    About to accept this negotiated deal in NJ.

    24 month, 12K lease for a Chevy Cruze 1LT with Driver Convenience Package (Driver 6-way power seat adjuster with manual recliner; Rear Parking Assist; Remote vehicle starter system) and Connectivity Plus Package (Cruise control; Bluetooth for phone; USB port located in center console; Steering wheel-mounted audio controls; Leather-wrapped shift knob; Leather-wrapped steering wheel).

    MSRP: 18,995
    RV % : 67%
    RV: $12,727
    Net Cap: $17,617
    MF: .00028

    0 Down
    Total Monthly Payment (incl taxes): $229
    Inception Fee: $595 bank fee + $229 first month

    Sound about right?
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    thandamilkthandamilk Member Posts: 18
    Anyone?
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    ireland1ireland1 Member Posts: 5
    It sounds good but I wanted to add that GM just sent a mailing out advertising 1000 off the the capitilized cost reduction amount . They also have 1ooo off for owner loyalty but you can't combine the 2. the capitilized reduction is until 2/28/11 . I don't own a Chevy so I don't know why i was chosen to receive the mailing . 1-866-944-4004 is the number to inquire. Also who is going to hold your lease Ally? I like the lease end residual value percentage your getting did you negotiate it? Since the model is new and have no resell data I wonder how they arrive at that percentage of depriciation.
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    thandamilkthandamilk Member Posts: 18
    Thanks for your inputs.

    First they quoted me a lease with GM Financial, and said that's the new company they're encouraging lease deals with. Quoted 206 per month including taxes with 595 (bank fee) + first month's down. I ran some numbers and figured this was way too good to be true. They'd need to go about $1000 below invoice to offer this deal.

    When they started processing the deal must've figured they're getting rogered. Came back and said "Just wanted to be transparent with you, GM Fiancial doesn't offer Gap protection on their leases". We recommend going with Ally (GMAC).

    Basically couldn't offer the 206 a month deal (I wasn't surprised) and bumped up to 234 a month (which, if you do the math with the numbers above is whereabouts it should've been).

    Since then, I've been able to negotiate keeping the same price (234 all inclusive a month) while getting them to deliver the color of my choice - granite black.

    The owner loyalty is already applied to my cap reduction - which is why they're able to sell this at below invoice. Am sure they're still making money off me otherwise they wouldn't sell me the car, but feels like its a win win. Am happy with the car and the deal. Hope to be closing tomorrow.
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    ireland1ireland1 Member Posts: 5
    Thandamilk they are making money they are paid a fee from the leasing company and selling the car to the leasing company and making money there as well. This is the deal they claim they can give me on the flyer I received. 17920 list on the LS with automatic, by your post my $1ooo off certificate should cover tax and licsense and more, no security deposit but $899 down I conclude this must be the aqusition fee. 39 months 39000 miles all for the price of 159 a month. I don't know how they can advertise that payment, crunch those numbers. Best of luck on your transaction. I also found a a web site that sells an online lease contract and worksheet. Its at leaseguide.com and I think it was 19.95 here is what they post it contains
    Our Lease Kit includes a sample lease contract with easy to understand explanations, an itemized contract checklist, Lease Inspector calculator, and payment worksheets to help you make sure your contract is correct before you sign. If you go with it let me know if it was worth it also let me know how your transaction goes.
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    thandamilkthandamilk Member Posts: 18
    Thanks for the heads up ireland1.

    In comparison to the deal you're quoting, the car I'm looking at is a Black 1LT with Driver Convenience and Connectivity Packages installed. List is 19,190, invoice and sell price is 17,789 (with those options installed).

    I've built an excel lease calculator which is fairly accurate, and it does show their numbers to be off by about $5 a month based on what they're quoting as the RV, MF, Cap Cost and MSRP and the $235 a month figure. This is something I'll be working out with them when I go in tomorrow.
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    ireland1ireland1 Member Posts: 5
    Hey thandmilk if I may what is your RV MF and cap cost? Does Ally charge the same bank fee you quoted earlier 595. This forum is great and so are you to share!
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    thandamilkthandamilk Member Posts: 18
    All numbers below for a 24 month lease on the Cruze 1LT with driver convenience and connectivity packages installed.

    RV: 67%
    MF: 0.00028 (for tier 1, 720+ score)
    Cap cost: 17,789

    Only fee I'm paying is 595 bank and plates.
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    micaromicaro Member Posts: 2
    do you mind sharing which dealer you are working with?
    also, when you say list price of 19,190, that's after rebate, right?
    Asking, because, this car shows 20,190 MSRP and invoice of 19,621 ..

    thanks
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    Kirstie_HKirstie_H Administrator Posts: 11,150
    A reporters seeks to interview a recent car buyer who opted for an Elantra or Cruze after considering Corolla. Please email pr@edmunds.com by Monday, February 14, 2011 with your daytime contact information and a few words about your decision.
    Thanks,
    Jeannine Fallon
    Corporate Communications
    Edmunds.com

    MODERATOR /ADMINISTRATOR
    Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

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    ireland1ireland1 Member Posts: 5
    I am dealing with 4 dealers via internet only one gave me a quote.This is on an LS which has to be manual transmission and stock as a they came in at 14990 which includes the 1000 off. My other source for pricng has been build a car on the Chevy website which I assume is national but since ISP knows where I am maybe its regional. I am in st louis. You got me intersted in the 1 LT now since you can add more features to it. Here is the run down base MSRP 18895 thats with 720 destination fee plus your options convience pkg 685 conectivity pkg 525 black paint 195 I would recommend 100 for spare tire and 80 for carpeted floor mats . Thats 20300 without my suggestions minus 1000 rebate 19300. I like your sell price which I hope to negotiate down to, hopefully. As I typed hopefully the phone rang and it was LOU FUSZ adealer here, listento this BS. I outlined my deal offered above 159 a month for 39 months for a LS AUTO . I added 9000 miles to the lease 15000 a year for total 45000 they cmae back at 18100 minus rebate 1000 discount 470 final price 16630. Now insted of 899 down they want 2650 down and 210 a month which is 3736 extra but that includes tax which is around 550. 6362884554 is cell if you want to talk
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    micaromicaro Member Posts: 2
    my question was for thandamilk as I'm in NJ and looking into LT model
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    thandamilkthandamilk Member Posts: 18
    Ireland, the numbers from my deal were with Englewood Auto Group. They're on 386 Grand Ave in Englewood, NJ. Nice bunch of people, easy to work with. Check in with Mike if you end up heading there.

    Update from my end is that the deal fell through because it turns out owner loyalty doesn't apply in my case. I have a 2011 Malibu but the lease is through my employer and GM won't honor that (justifiably). What is slightly disappointing is tha they knew about this but brought it up last minute. In all fairness to them, the sales rep who was originally tagged to me and had this information was let go / left their dealership while I was working out my deal with them over the past week and apparently this information wasn't shared with the dealership management.

    Anyhow, that leaves me with a well negotiated deal that I can't get! Not willing to pay $280 or so a month for the Cruze on a 24 month lease- which is where its at without the owner loyalty.

    Can anyone else confirm what rebates/discounts are being offered other than owner loyalty for the 2011 Cruze? Cars.com mentions a $1250 customer cash back but I haven't been able to verify that with any dealers, nor on Chevy's own website.
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    g6leaserg6leaser Member Posts: 160
    Just leased a 2011 Chevy Cruze LTZ - fully loaded - navigation, pioneer audio, sunroof, etc -
    MSRP $26,280

    Got GM Loyalty for $1,000 - Put no money down. ((did a pull ahead on 2008 Chevy Malibu Lease))

    39 month / 12,000 miles per year lease (39,000 miles)

    Paying $350/month -- would have been $328 but then dealer hit me with - do you want GAP INSURANCE -- so I added it.

    Thanks,
    ER
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    jamtracyjamtracy Member Posts: 75
    Gap insurance on a Lease? I've never heard of such a thing.......
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    ireland1ireland1 Member Posts: 5
    Consider that when you lease a car the dealer actually sells the car to the leasing company. Sometimes gap insurance is provided by the lease company others don't provide it. Gap insurance is just what it sounds like. Lets say your gets stolen in 6 months the leasing company is out the 26000 they paid for the car minus the 6 months of payments you made on itt. Your car insurance pays 20,000 for your loss gap insurance covers that gap.
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    arb1arb1 Member Posts: 2
    Car_man,

    Could you please provide the MF and Residual % for a Cruze ECO w/ 6 speed manual?
    24 month and 36 month leases with 15k miles.

    TIA
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    bzogbzog Member Posts: 11
    Car_man,

    Could you pleases tell me the MF and RV on the Cruze LS with 6-speed automatic for a 39 month lease with 18k miles? I assume they still allow you to lease a car at that high of a mileage rate. My sister drives 250 miles per week back and forth to work so she needs lots of miles.

    TIA
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi arb1. Ally's April base lease rate and residual value for a 24 month lease of a 2011 Chevrolet Cruze Eco with 15,000 miles per year are 0.15% and 60%, respectively.

    The numbers for an otherwise identical 36 month lease are 1.0% and 50%.

    When negotiating your lease on this car, make sure to take advantage of the $1,275 cash incentive on for 24 month leases of it and $1,100 on 36 month leases of it through Ally.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey bzog. Ally's April base lease rate and residual value for a 39 month lease of a 2011 Chevrolet Cruze LS with 15,000 miles per year are 47% and 47%, respectively.

    I believe that 15,000 miles per year is the highest mileage allowance that Ally publishes residual values for. If you need to drive more than that, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Car_man
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    tgaydoshtgaydosh Member Posts: 4
    Does anyone know what the current lease incentives are for the Cruze? I qualify for the USAA rebate, military pricing and GM credit card bonus?
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    nptodaronptodaro Member Posts: 2
    Car_man,

    Can you please tell me the residual value, money factor, and incentives for May for a 2011 Chevy Cruze ECO with an MSRP of $20, 625 for 24/36 months and 12k miles per year?

    I live in Huntington, NY (11743)

    Thank you very much,
    Nick
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey tgaydosh. GM's current cash incentive for a 36 month lease of a 2011 Chevrolet Cruze through Ally is $1,250.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings Nick. Ally's May base lease rate and residual value for a 36 month lease of a 2011 Chevrolet Cruze ECO with 12,000 miles per year are 1.08% and 51%, respectively.

    As you can see, Ally 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.

    When negotiating your deal on this car, make sure to take advantage of the $1,250 cash incentive that is currently available on 36 month leases of it through Ally.

    Car_man
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    sheepdog1sheepdog1 Member Posts: 36
    Hey Carman, what are the latest lease base numbers and residuals and any lease incentives for the cruz?

    Thanks
    Todd
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Todd. Ally's current base lease rate and residual value for a 36 month lease of a 2011 Chevrolet Cruze LS with 15,000 miles per year are 1.0% and 48%, respectively.

    General Motors is currently providing a $750 cash incentive on 36 month leases of this car through Ally.

    Car_man
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    smaxxsmaxx Member Posts: 10
    Car man,

    Could you please post the lease factors for a Cruze 1LT, 36 months, 12K miles per year? I'm in NJ if that matters.

    Thanks.
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    hmi1hmi1 Member Posts: 2
    Hey Car_man,

    Can you please post the residual value, money factor, and incentives for June for a 2011 Chevy Cruze ECO with an MSRP of $20, 625 for 48 months and 15k miles per year (I want 18k miles but understand that I would have to prepay for the extra miles instead)?

    I live in Virginia.

    Thank you very much.
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    cnote2cnote2 Member Posts: 140
    Looking for 36m 12k and 15k lease. any lease cash or incentives?
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello smaxx. Ally's current base lease rate and residual value for a 36 month lease of a 2011 Chevrolet Cruze 1LT with 12,000 miles per year are 1.0% and 51%, respectively.

    When negotiating your deal on this car, make sure to take advantage of the $750 cash incentive that is currently available on 36 month leases of it through Ally.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Ahhh, hmi1, the Cruze ECO. Interesting car. Here's the information that you're looking for. Ally's current base lease rate and residual value for a 48 month lease of a 2011 Chevrolet Cruze ECO with 15,000 miles per year are 2.25% and 41%, respectively.

    As I mentioned in my previous post, GM is currently providing a $750 cash incentive on leases of this car through Ally.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey cnote2. Ally's June base lease rate and residual value for a 36 month lease of a 2011 Chevrolet Cruze 1LT with 15,000 miles per year are 1.0% and 49%, respectively.

    The numbers for an otherwise identical lease of a Cruze 2LT are 1.0% and 47%.

    If you were to lease either of these cars with only 12,000 miles per year, their residual values would be 2% higher.

    GM is currently providing a $750 cash incentive on 36 month leases of the Cruze through Ally.

    Car_man
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    hmi1hmi1 Member Posts: 2
    Thank you Car_Man for your help. Quick question: I talked to a dealer and he said the only incentive they have is $500 for credit union members. Can you tell me how I can find the $750 Ally incentive online?
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem hmi1. The $750 cash incentive is definitely available on 36 month leases of this car through Ally. The dealer is either mistaken or trying to mislead you. I'm not aware of any resource that has this information on-line.

    Car_man
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    pmhapmha Member Posts: 2
    We are currently in the process of leasing a Chevy Cruze .

    All was going fairly smooth until we were asked to offer proof of residency. We have been living at current residence for 7 years, so we cannot understand why that is required? We are living with family and utility bills are in their names. Our insurance does have our current address on documents, but that is not acceptable according to dealer. In addition, the dealer tells us this is a new requirement, under some new law, of which we are not aware of or cant find any info on.

    Is this truly a new requirement? or is the dealer pulling our leg?
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    benrey23benrey23 Member Posts: 42
    I know this is a late reply. The incentive you were asking about is a CCR credit CCR stands for (Cap Cost Reduction). It is not listed on most of the incentive reports salesman recieve. That lease rate is for A tier credit rating of over 800. The rate goes up a little if lower but still good. Since it is a Ally credit GM does not advertise it because Ally is free to change how the lease is set up. Meaning they can always raise the residual % and reduce the CCR. GM doesnt care as long as the overall lease special is good for the agreed time. It also requires about 2500 down. You dont have to put that much down it, but ur payment will be about 30-40 higher.
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    stever12stever12 Member Posts: 11
    edited December 2011
    Car_man,

    Could you please provide the MF, Residual, and if any lease cash for 2012 Cruze ECO w/ 6 speed manual for 36 and 39 month leases with 12k miles/yr? Also, I am curious how these numbers compare with Cruze LS w/ 5 speed, so if any significant difference please post these too.

    In Oregon, if it matters.

    Thanks for the great service you provide!
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome stever12. Ally's current base lease rate and residual value for a 36-month lease of a 2012 Chevrolet Cruze ECO with 12,000 miles per year are 1.1% and 55%, respectively. The numbers for a 39-month lease would be 1.1% and 52%.

    General Motors is currently providing a $1,250 cash incentive on 36 to 39 month leases of this car through Ally.

    The lease rates are the same for the LS, but its residual values are 2% lower.

    Car_man
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    stever12stever12 Member Posts: 11
    Thanks for quick response. A couple follow up questions:
    1. Can you give me the 24 month numbers (lease rate/residual(12k/yr)/lease cash) for the '12 Cruze ECO?
    2. Are these terms for the $0 first payment lease ads I have been seeing from GM?
    3. Do you happen to know the acquisition fee for Ally?

    Thanks!
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    stever12stever12 Member Posts: 11
    Hi Car_Man, I know you are busy but I am hoping to get an answer on my last question before going shopping. Thanks!
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome stever12. Ally's December buy rate lease money factor and residual value for a 24-month lease of a 2012 Chevrolet Cruze Echo with 12,000 miles per year are 1.0% and 62%, respectively. General Motos is currently providing an $1,850 cash incentive on 24-month leases of this car through Ally.

    Ally charges an unattractive $795 acquisition fee on every vehicle that it leases.

    Car_man
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    budman21budman21 Member Posts: 48
    edited January 2012
    Not sure if everyone knows this but GM is currently topping off GM Card earnings AND has removed the allowance limits!! Good til Feb 29th on anything but Volt and Corvette ZR1.

    Anyway, this has really gotten me thinking about leasing but I'm a detail guy and those salesman are awfully stingy with lease rate info. With that discount($3000) and my USAA $750 incentive, I can get a payment down in the low $100 range with a good lease MF and residuals....That said can the dealer fudge Ally's rate to be a profit center for them without telling you?

    I got a rate from the dealer of 2.0 and 2.1 % for my 24 and 36 month quotes and 61 and 53 for the residuals. There was also a CCR listed for $900 on 36 or $1800 on 24. Credit rating here is Tier A & S. I saw several posts here from Dec for 1.1%. Thoughts? New rate info? Preference on 24 or 36? Leaning towrds 24 mo to cut the cost with all this free money.

    I want to lease a 2012 Cruze 1LT automatic this month or next. Do they change rates every month?

    Last question, I promise. Is gap insurance included with Ally leases?

    Thanks in advance for any info available!!
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    fab6141fab6141 Member Posts: 1
    I am in almost the same situation as budman21 above. I have also recieved the GM Card top off ($3000) and also GM loyalty of $500. I'm looking to lease a 1LT automatic as well. Any information on the lease rate would be helpful to me as well. Thanks,
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    autoboy19autoboy19 Member Posts: 156
    edited January 2012
    budman21,

    Do you know how many miles those residuals were for?

    Seems like they should be 15k?

    Those lease rates are marked up. Base rates are 1.0% and 1.1% respectively.

    Dealer told me 63% for 24 months on 1LT or ECO with 12k per year.
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    budman21budman21 Member Posts: 48
    edited January 2012
    It was definitely 61% for 24 month 1LT automatic. I told her I wanted both but she said she was running it for 12K and we could adjust it up or down later. I think that's what was listed on the worksheet but I don't recall but I didn't trust her one bit from the beginning. She was abrasive, condescending, and annoying. All she wanted to do was tell me how great the payment was. She got snippy when I asked what the $1800 was for....and that was a lease incentive that I was getting. For other questions I had, she either didn't know or said she would have to check with finance guy later that he was busy.

    What a fool. She lost the sale. I got up to leave, and she was 'aghast' that I wasn't going to sign and she said the worksheets were 'Hers' and to give them back.

    I thought the payment was high. Later, I figured out that she had rolled everything except first month back into payments. In PA, we pay 9% on payments so the title, tags, aquisition fee, and the 9% tax on $5550 CCR was all being taxed at 9%. That's taxing the tax!

    One followup question: The $5550 she listed as CCR consisted of $3000 GM Card earnings, $1800 lease incentive, and $750 USAA member incentive. I understand that the GM Card earnings are treated as a downpayment, but I think that the lease incentive and USAA incentive should come off the negotiated price and not be CCR. I saw a table somewhere on the site that said incentives were not taxable in PA. As CCR, she had me pay 9% on that up front (and then again as it was included in payments). Thoughts? I could see her getting me on that payment but then re-writing the numbers so they could pocket the difference between and what should be the real payment.

    Thanks for clearing up base rate. That makes perfect sense. So the dealer was getting a 1% markup.

    I'm certain that my quote came from Ally. Maybe yours came from Americredit?
This discussion has been closed.