2015 Chevy Tahoe Lease Questions

kyfdx

nyccarguy said:

I would think the added 16,250 miles would be added into the cap cost. I'm pretty sure the bank is Ally. So if its $853 per month plus $71.44 tax is $924.44. He's at $930 right now. Not too far off.

You used the 2.5% APR or the .00148 (3.55%) I'm being quoted?

Looks like I'm going to shoot for plan B. I'm going to have Dad's '11 professionally detailed on the inside, bring it up for them to see & hopefully get some more trade money out of them so there's less negative equity and get them to give me the base 2.5% APR.

Thanks as always!

I used the .00148 that was quoted... 2.5% APR would knock about $38/mo. off the monthly..

nyccarguy

Thanks!

adamcar

nyccarguy said:

OK, so I got you guys some more information that should be helpful for you helping me:

2015 4WD Chevrolet Tahoe LT

MSRP: $62,045
Selling Price: $54,131
Negative Equity: $5,029.69
39 Months
Residual Value: 56%
Money Factor: .00148 (I think he's inflating this)
Additional Miles: 20K per year for 39 months @ $.20 each over 15K per year
Right now he's got me at $930 per month
Can you guys give me a solid number to go back to him with tomorrow?

Thanks!

I thought it was a bad idea to lease past the bumper to bumper warranty.

Michaell

adamcar said:

nyccarguy said:

OK, so I got you guys some more information that should be helpful for you helping me:

2015 4WD Chevrolet Tahoe LT

MSRP: $62,045
Selling Price: $54,131
Negative Equity: $5,029.69
39 Months
Residual Value: 56%
Money Factor: .00148 (I think he's inflating this)
Additional Miles: 20K per year for 39 months @ $.20 each over 15K per year
Right now he's got me at $930 per month
Can you guys give me a solid number to go back to him with tomorrow?

Thanks!

I thought it was a bad idea to lease past the bumper to bumper warranty.

Generally, yes, but occasionally the finance company will make the 39 month residual better than the 36 month number.

nyccarguy

adamcar said:

nyccarguy said:

OK, so I got you guys some more information that should be helpful for you helping me:

2015 4WD Chevrolet Tahoe LT

MSRP: $62,045
Selling Price: $54,131
Negative Equity: $5,029.69
39 Months
Residual Value: 56%
Money Factor: .00148 (I think he's inflating this)
Additional Miles: 20K per year for 39 months @ $.20 each over 15K per year
Right now he's got me at $930 per month
Can you guys give me a solid number to go back to him with tomorrow?

Thanks!

I thought it was a bad idea to lease past the bumper to bumper warranty.

It all depends on the car. This Tahoe will be my Dad's 3rd. Even though this is a new body style, we are confident that he won't need any major out of warranty repairs from 36K to 65K miles.

nyccarguy

@kyfdx‌

It's not an Ally lease. It's GM Financial Bank.

kyfdx

nyccarguy said:

@kyfdx‌

It's not an Ally lease. It's GM Financial Bank.

Sorry... I know they are one of the alternate lessors for GM, but I don't have their numbers (other than knowing that they use the same residuals as Ally for GM products)

kyfdx

nyccarguy said:

@kyfdx‌

It's not an Ally lease. It's GM Financial Bank.

The money factor for the GMC Yukon from GM Financial is .00105, this month... They usually have the same program as the Tahoe. (I don't have the Chevy numbers, though).

Since that number is almost identical to the Ally program (2.50% APR), I'd guess they might be marking up the rate on you..

nyccarguy

kyfdx said:

nyccarguy said:

@kyfdx‌

It's not an Ally lease. It's GM Financial Bank.

The money factor for the GMC Yukon from GM Financial is .00105, this month... They usually have the same program as the Tahoe. (I don't have the Chevy numbers, though).

Since that number is almost identical to the Ally program (2.50% APR), I'd guess they might be marking up the rate on you..

Thanks!

I called the salesman back as the GM was off yesterday. I told him I'm going to have the truck professionally detailed, so they'll have to come up more on the trade, & they need to come down on the money factor to the base 2.5% rate. Then I got the old "Well, where do you want to be payment wise?" So I threw out a number that I know is not going to be met, $800. I know it is a stretch, but now they know that the $930 they quoted me isn't going to fly.

adamcar

Michaell said:

adamcar said:

nyccarguy said:

OK, so I got you guys some more information that should be helpful for you helping me:

2015 4WD Chevrolet Tahoe LT

MSRP: $62,045
Selling Price: $54,131
Negative Equity: $5,029.69
39 Months
Residual Value: 56%
Money Factor: .00148 (I think he's inflating this)
Additional Miles: 20K per year for 39 months @ $.20 each over 15K per year
Right now he's got me at $930 per month
Can you guys give me a solid number to go back to him with tomorrow?

Thanks!

I thought it was a bad idea to lease past the bumper to bumper warranty.

Generally, yes, but occasionally the finance company will make the 39 month residual better than the 36 month number.

In this case, the owner is going way over the mileage, not the time. That seems very risky for a new redesign Tahoe. How much more would an Escalade be that has a much better bumper to bumper warranty?

adamcar

nyccarguy said:

adamcar said:

nyccarguy said:

OK, so I got you guys some more information that should be helpful for you helping me:

2015 4WD Chevrolet Tahoe LT

MSRP: $62,045
Selling Price: $54,131
Negative Equity: $5,029.69
39 Months
Residual Value: 56%
Money Factor: .00148 (I think he's inflating this)
Additional Miles: 20K per year for 39 months @ $.20 each over 15K per year
Right now he's got me at $930 per month
Can you guys give me a solid number to go back to him with tomorrow?

Thanks!

I thought it was a bad idea to lease past the bumper to bumper warranty.

It all depends on the car. This Tahoe will be my Dad's 3rd. Even though this is a new body style, we are confident that he won't need any major out of warranty repairs from 36K to 65K miles.

That is a lot of confidence in a new redesign Tahoe. GM is not exactly a pinnacle of quality. How much would an Escalade lease cost that has a 4 year 50,000 mile bumper to bumper warranty?

nyccarguy

adamcar said:

nyccarguy said:

adamcar said:

nyccarguy said:

OK, so I got you guys some more information that should be helpful for you helping me:

2015 4WD Chevrolet Tahoe LT

MSRP: $62,045
Selling Price: $54,131
Negative Equity: $5,029.69
39 Months
Residual Value: 56%
Money Factor: .00148 (I think he's inflating this)
Additional Miles: 20K per year for 39 months @ $.20 each over 15K per year
Right now he's got me at $930 per month
Can you guys give me a solid number to go back to him with tomorrow?

Thanks!

I thought it was a bad idea to lease past the bumper to bumper warranty.

It all depends on the car. This Tahoe will be my Dad's 3rd. Even though this is a new body style, we are confident that he won't need any major out of warranty repairs from 36K to 65K miles.

That is a lot of confidence in a new redesign Tahoe. GM is not exactly a pinnacle of quality. How much would an Escalade lease cost that has a 4 year 50,000 mile bumper to bumper warranty?

An Escalade is completely out of the question. They are MUCH more expensive. My Dad is looking at a Tahoe with an MSRP of $62K. I'm going to go out on a limb and say that an Escalade has to be easily $20K more. GM has taken its licks, but they are a big company and you can't just lump all their cars together and say "they are not exactly the pinnacle of reliability." One thing they do exceptionally well is trucks. Pickup trucks and SUVs built on Pickup Truck Platforms. Believe me, I'm not a GM fan boy either.

kyfdx

If you are going to put 60K miles on a vehicle, what difference does it make if it's a lease or a purchase? You have to pay repairs, either way..

Assuming you drive 20K/yr, you'll be out of warranty, one way or the other, with any vehicle...

nyccarguy

Deal is done. 39 months $898 per month including tax. I feel it was the best I could do with the negative equity. Yes we will have to pay for out of warranty repairs, but I don't think we'll encounter any.

kyfdx

nyccarguy said:

Deal is done. 39 months $898 per month including tax. I feel it was the best I could do with the negative equity. Yes we will have to pay for out of warranty repairs, but I don't think we'll encounter any.

Congrats!

adamcar

kyfdx said:

If you are going to put 60K miles on a vehicle, what difference does it make if it's a lease or a purchase? You have to pay repairs, either way.. Assuming you drive 20K/yr, you'll be out of warranty, one way or the other, with any vehicle...

Makes much more sense to pay to repair something that is mine than for something I'm renting. I hope it works out for the best. Maybe it will be such a good rig they will buy it at least end.

nyccarguy

Ha! Never! That's the beauty of leasing. You get something shiny & new every 3 years (or so).

adamcar

I don't think you understand fully how a lease is calculated. Yes the sticker might be $20k more, but the residual value could very well be $20k more as well, resulting in the same or even lower lease payment than you have with the Tahoe. That is why Lexus and Acura have attractive lease prices, they hold their value better than the domestics. Anyway, good luck!

nyccarguy

I do have an understanding how leasing works. Manufacturers change programs every month and adjust each car's residual value and money factor according to how they are selling. For instance, Escalades are selling like hot cakes right now. GM might peg its residual at X% higher than a Tahoe or Yukon, but might give it a higher money factor. I understand what you are saying. That the lease payment might not be as much more as the price delta between the sticker price of the 2 cars indicates.

Vehicle lease payments are dependent on their predicted residual value, which can be artificially inflated (BMW) to move units. A manufacturer also can lower the money factor (interest rate) to make a lease payment lower.

The biggest gamble we are taking right now is the fact that we'll be able to get out of the lease via a pull ahead program in month 36 (or 39 months) and that in 3 years the "program" will be similar. Nobody (I don't care how smart they are) can predict the future. If in 3 years gas prices shoot back up to $4 - $5 per gallon and big SUVs aren't selling as well then the leasing company might set the residual at 50% or 48% which would mean the payment would go up.

The main advantage to my Dad leasing is the fixed residual. He can pile on as many miles as he wants. He'll just have to pay $.25 per mile over the 65K that his lease allows. But the more miles he puts on, the more the vehicle depreciates. So in 3 years if he were to trade the car in with 70K or 75K (had he purchased) he'd get A LOT less than the 58 or 56% stated lease buy out.

shankly

Are all of these MF and residual quotes based on a tier 2 FICO? Tier 3?

about to trade in a 2008 Lexus RX350 which the austin Lexus dealer valued at $12k towards a 2015 Tahoe LT. 

Credit is current mid 600's but could pay off some revolving debt and rescore close to 700 if needed. Just curious whether it's worth it to part with $10-$15k right now for a slightly better deal on lease financing.

Do you happen to know what Ally/GM's pricing tiers are?

thanks in advance. 

kyfdx

shankly said:

Are all of these MF and residual quotes based on a tier 2 FICO? Tier 3?

about to trade in a 2008 Lexus RX350 which the austin Lexus dealer valued at $12k towards a 2015 Tahoe LT. 

Credit is current mid 600's but could pay off some revolving debt and rescore close to 700 if needed. Just curious whether it's worth it to part with $10-$15k right now for a slightly better deal on lease financing.

Do you happen to know what Ally/GM's pricing tiers are?

thanks in advance. 

All based on top tier credit..

Sorry, but we don't have the tier info for Ally.

4degreeslower

Any help would be GREATLY appreciated. Every time I purchase, or lease a car I seem to get burned so I am hoping to curb that this time. Anyway...

2015 Tahoe LT 2wd
Luxury Package
Sun Entertainment Destination Package
$59,360.00 MSRP
$54,466.00 Sale Price
$53,216.00 After $1,250 Owner Loyalty

I also have around $1,250 negative equity in trade but have no problem offsetting that with down payment.

36 or 39 Lease @‌ 12k

Some other information to throw into the mix. I am in Texas so 6.25% tax. My trade is valued at around $17,000, so I would only have to pay tax on the remaining $36,216.00 I believe.

This will most likely be happening today, so I am assuming I should look for 2.5% or less, correct?

Thank You in advance for any, and all help!

Also, one dealership I was dealing with, had two different trucks, one they showed me had 2.5% figured, and the other showed 3.0%. The sales manager told me that they do not set the money factor/ARP. Was he full of crap? The were both Tahoe LT's, but the one at 3.0% had about a $3,000 higher MSRP.

Michaell

4degreeslower said:

Any help would be GREATLY appreciated. Every time I purchase, or lease a car I seem to get burned so I am hoping to curb that this time. Anyway...

2015 Tahoe LT 2wd
Luxury Package
Sun Entertainment Destination Package
$59,360.00 MSRP
$54,466.00 Sale Price
$53,216.00 After $1,250 Owner Loyalty

I also have around $1,250 negative equity in trade but have no problem offsetting that with down payment.

36 or 39 Lease @‌ 12k

Some other information to throw into the mix. I am in Texas so 6.25% tax. My trade is valued at around $17,000, so I would only have to pay tax on the remaining $36,216.00 I believe.

This will most likely be happening today, so I am assuming I should look for 2.5% or less, correct?

Thank You in advance for any, and all help!

Also, one dealership I was dealing with, had two different trucks, one they showed me had 2.5% figured, and the other showed 3.0%. The sales manager told me that they do not set the money factor/ARP. Was he full of crap? The were both Tahoe LT's, but the one at 3.0% had about a $3,000 higher MSRP.

Base MF is 2.50%, which the dealer can mark up if so inclined. 36/12 residual is 60%, so with your MSRP and net cap cost I get a pre-tax payment of $581.27.

4degreeslower

Thank You for the quick response.

I forgot to mention, the paperwork they showed me had the residual on the 39 month shown at 56%. Is this something they can adjust as well, or is that set by lender?

Michaell

4degreeslower said:

Thank You for the quick response.

I forgot to mention, the paperwork they showed me had the residual on the 39 month shown at 56%. Is this something they can adjust as well, or is that set by lender?

residual is set by the lender and cannot be modified. I'm showing the 39/12 residual as 58% - perhaps they think you want 15K miles per year?

chad2014

Looking for jan 15 numbers on Tahoe LT 4wd on 39/10k in IN. Looking for MF, residual, lease cash 

Michaell

chad2014 said:

Looking for jan 15 numbers on Tahoe LT 4wd on 39/10k in IN. Looking for MF, residual, lease cash 

No Chevy numbers available just yet ... perhaps in a few days.

chad2014

Believe jan numbers have been released now please advise. 

Michaell

chad2014 said:

Believe jan numbers have been released now please advise. 

The dealers may have them, but we don't ... yet.

kyfdx

chad2014 said:

Looking for jan 15 numbers on Tahoe LT 4wd on 39/10k in IN. Looking for MF, residual, lease cash 

2.85% APR and 56% residual.

nc2015

Do you have 2015 Tahoe 4wd LTZ lease numbers for North Carolina? Looking for 36 and 39 at 12k per year.. Residual and money factor.. Thanks

Michaell

nc2015 said:

Do you have 2015 Tahoe 4wd LTZ lease numbers for North Carolina? Looking for 36 and 39 at 12k per year.. Residual and money factor.. Thanks

2.85% MF and 57% for 36/12. Subtract 2% for 39 months. $150 lease cash.

nc2015

The dealer sent me this pic showing 55% for 36 month lease... Is this screen for 15k or 12k.. They are saying it is for 12k at 55%.. Can't get image to post

Michaell

nc2015 said:

The dealer sent me this pic showing 55% for 36 month lease... Is this screen for 15k or 12k.. They are saying it is for 12k at 55%.. Can't get image to post

55% is the 36/15 residual from Ally - the only GM numbers we have. Confirm with the dealer who the bank is.

nc2015

One more question.. What are the credit tiers.. mine is 719.. What are the cutoffs?

Michaell

nc2015 said:

One more question.. What are the credit tiers.. mine is 719.. What are the cutoffs?

I don't have that information.

don_caruana

Is it correct to assume that the numbers from one reason to the next (midwest vs south, etc) will be different? If so, what would be the residual and MF for 36 months/15K and 36/12 for Michigan?

kyfdx

don_caruana said:

Is it correct to assume that the numbers from one reason to the next (midwest vs south, etc) will be different? If so, what would be the residual and MF for 36 months/15K and 36/12 for Michigan?

We don't have all of the regions.. Actually, I'd be surprised if the numbers are any different. We haven't found any regional differences

jjstap

Looking for the numbers for Tahoe LS 2wd for 36/12k. 

kyfdx

jjstap said:

Looking for the numbers for Tahoe LS 2wd for 36/12k. 

2.85% APR and 59% residual

jjstap

Did the RV get worse recently? I was under the impression that the LS had the best RV. If so is there any chance it goes back up in the coming months? 

Michaell

jjstap said:

Did the RV get worse recently? I was under the impression that the LS had the best RV. If so is there any chance it goes back up in the coming months? 

Generally speaking, the RV goes down throughout the year - the best residual is when the new model year is released.

Exceptions may include special incentives for leasing, but it's hard to predict if or when that will happen. The full size GM SUV's are some of the best selling cars available, so I doubt that GM sees a need to put incentives on them.

dre210

Hello, can you please advise the MF and Residual for 2015 LTZ 4WD, for 24 and 36 months at 10,000miles. Also, above it is stated that 39 months @ 10,000 miles is 2.85 and 56%, is that still that same?

Michaell

dre210 said:

Hello, can you please advise the MF and Residual for 2015 LTZ 4WD, for 24 and 36 months at 10,000miles. Also, above it is stated that 39 months @ 10,000 miles is 2.85 and 56%, is that still that same?

24/10 - 1.90% and 64%

36/10 - 2.85% and 58%

39/10 - 2.85% and 56%

dre210

Good Morning, Can you please advise the numbers for February for 2015 LT 4WD and the LTZ 4WD, 24 months @ 10,000 miles. I went to the dealership and I'm completely confused, because their numbers are not matching mine. Is there a simple calculation that I can use to figure out the taxes with this new tax law. The dealership advied that with this new law, I'm taxed on rebates, down payment, and the trade in credit. Is this true? Also, they advised that MF is always the same, even though the numbers provided last month show a difference from 24 to 36 months for the month of January. This is my first lease, so I'm using this site to negotiate the best deal..

Michaell

dre210 said:

Good Morning, Can you please advise the numbers for February for 2015 LT 4WD and the LTZ 4WD, 24 months @ 10,000 miles. I went to the dealership and I'm completely confused, because their numbers are not matching mine. Is there a simple calculation that I can use to figure out the taxes with this new tax law. The dealership advied that with this new law, I'm taxed on rebates, down payment, and the trade in credit. Is this true? Also, they advised that MF is always the same, even though the numbers provided last month show a difference from 24 to 36 months for the month of January. This is my first lease, so I'm using this site to negotiate the best deal..

See the post above yours for this information ... it's possible that the dealer is using a different bank. We are quoting the GM Financial numbers.

Which new law and what state are you referring to? Those items listed are subject to sales tax.

MF may or may not be the same for 24 or 36 month lease terms - it's up to the bank to decide.

dre210

The new tax law for leases in illinois that began Jan 1, 2015 where you are only taxed on the down payment and the monthly payment...

Michaell

dre210 said:

The new tax law for leases in illinois that began Jan 1, 2015 where you are only taxed on the down payment and the monthly payment...

Ah, yes. Much better than the old taxation method of applying tax to the entire selling price. Made leasing in Illinois disadvantageous.

dre210

I was taking the amount of monthly payment given by the number listed for mf and residual above. Then multiplying the monthly payment by 8.25% which is the tax for cook county. However, my numbers and the numbers the dealership provided are off by almost $125 a month. Is this the right calculation?

Michaell

dre210 said:

I was taking the amount of monthly payment given by the number listed for mf and residual above. Then multiplying the monthly payment by 8.25% which is the tax for cook county. However, my numbers and the numbers the dealership provided are off by almost $125 a month. Is this the right calculation?

What are the numbers you are using for MSRP, net capitalized cost, MF, residual and lease term?

I would confirm that the dealer is using the same numbers - the one that would most affect the payment is the net capitalized cost. You may be using the negotiated selling price, they may be adding fees and such to it.