2016 Chevy Traverse Lease Questions

upstatebuyer2

Hello,
I was wondering what the current residuals and lease rates for vehicle. 36 months @ 12k. Looking at either AWD LT2 or AWD LTZ
Thanks so much.

kyfdx

upstatebuyer2 said:

Hello,
I was wondering what the current residuals and lease rates for vehicle. 36 months @ 12k. Looking at either AWD LT2 or AWD LTZ
Thanks so much.

.00065 MF and 58% residual. $600 lease cash

For either model.

ddelise

Can I get the latest for FL? FWD, LTZ, 36 or 39 month, 12k miles/year? Is there any lease cash, and is the Conquest Cash applicable on a lease?

Michaell

ddelise said:

Can I get the latest for FL? FWD, LTZ, 36 or 39 month, 12k miles/year? Is there any lease cash, and is the Conquest Cash applicable on a lease?

.00065 and 58% for 36/12. Subtract 2% for 39 months. $600 lease cash.

Conquest cash should be applicable on a lease.

upstatebuyer2

Thoughts on this deal? also using GM supplier and coming off a current traverse lease that they are payment the 4 payment on. This is a 39 month @ 12k lease. Dealer says this is their bottom line. These numbers I show $345.69 per month. The dealer claims the 3,600 they are giving me is taxable as a down payment plus I need to pay tax on the residual value. Not sure on this, doesn't seem right.

MSRP:44,075
Lease amount: 36,600
Lease rate: 1.56%
Residual: 24, 682.00 @ 56%

Total deal is $408.00

Thanks for the help!!

Michaell

upstatebuyer2 said:

Thoughts on this deal? also using GM supplier and coming off a current traverse lease that they are payment the 4 payment on. This is a 39 month @ 12k lease. Dealer says this is their bottom line. These numbers I show $345.69 per month. The dealer claims the 3,600 they are giving me is taxable as a down payment plus I need to pay tax on the residual value. Not sure on this, doesn't seem right.

MSRP:44,075
Lease amount: 36,600
Lease rate: 1.56%
Residual: 24, 682.00 @ 56%

Total deal is $408.00

Thanks for the help!!

I get $345.42/mo with those numbers - certainly closer to your calculations than the dealers. However, I would confirm the net cap cost - it may be higher than the selling price you've given us.

Yes, you will owe sales tax on the incentives. What state and tax rate is this?

upstatebuyer2

New York so its 8.25%
The dealer is saying they don't calculate that way and it shows the selling price at 40,200 and a cap reduction of 3,600.00 for a total amount of 36,600.00. He is emailing me the invoice. maybe there's a way to upload.
Thanks

Michaell

upstatebuyer2 said:

New York so its 8.25%
The dealer is saying they don't calculate that way and it shows the selling price at 40,200 and a cap reduction of 3,600.00 for a total amount of 36,600.00. He is emailing me the invoice. maybe there's a way to upload.
Thanks

Calculate what way? You get the discount from sticker ($44,075 down to $40,200). Deduct the incentives or down payment to get the gross cap cost ($40,200 to $36,600). Add in taxes and fees to get the net cap cost - what is this number?

NY calculates lease sales tax against the sum of the payment and you can either pay it up front or add it to the net cap cost. I suspect the dealer is doing the latter.

upstatebuyer2

Here's the latest deal, after working at it a few weeks and three dealerships.
2016 Chevy Traverse LTZ w/confidence package, dual sunroof, hitch package.
Using discounts and GM Suppiler. Plus they are paying last 4 payments on current lease
No money down except 1st payment
39 months at 12k per year
MSRP 47,545 
Res: 56%
Rate: .000065
3600 in rebates(1500 in turn early, 1500 conquest, 600 lease cash)
$389.99 per month
Thoughts on this deal??

kyfdx

upstatebuyer2 said:

Here's the latest deal, after working at it a few weeks and three dealerships.
2016 Chevy Traverse LTZ w/confidence package, dual sunroof, hitch package.
Using discounts and GM Suppiler. Plus they are paying last 4 payments on current lease
No money down except 1st payment
39 months at 12k per year
MSRP 47,545 
Res: 56%
Rate: .000065
3600 in rebates(1500 in turn early, 1500 conquest, 600 lease cash)
$389.99 per month
Thoughts on this deal??

That's a great deal.

upstatebuyer2

Awesome!!! I pick the traverse up on Friday!! I really appreciate you guys providing all this info and helping us work out the best deals. 
Thanks again!!

drdrakeramore

Hi folks,

Can you help with the latest in Colorado for a 2016 Traverse AWD? We're trying to find one in the area that fits 3 in the middle, but we want some of the upscale options, so I'm not sure if that'll be 2LT or 1LT. If you could provide both I'd appreciate it! 10k/36 months. Thanks!

kyfdx

drdrakeramore said:

Hi folks,

Can you help with the latest in Colorado for a 2016 Traverse AWD? We're trying to find one in the area that fits 3 in the middle, but we want some of the upscale options, so I'm not sure if that'll be 2LT or 1LT. If you could provide both I'd appreciate it! 10k/36 months. Thanks!

.00065 MF and 59% residual for 2LT or LTZ

Add 2% to residual for 1LT or LS

$600 lease cash on all.

I'd check Chevy's website for the equipment differences by trim level.

samny1

Hi,

Could you please provide the RV and MF for a 2016 Traverse AWD 2LT and 1LT for 15k and 12K 36 months in NY?

Thank you

Michaell

samny1 said:

Hi,

Could you please provide the RV and MF for a 2016 Traverse AWD 2LT and 1LT for 15k and 12K 36 months in NY?

Thank you

.00065 and 58% (2LT) or 60% (1LT). $600 lease cash.

samny1

Michaell said:

samny1 said:

Hi,

Could you please provide the RV and MF for a 2016 Traverse AWD 2LT and 1LT for 15k and 12K 36 months in NY?

Thank you

.00065 and 58% (2LT) or 60% (1LT). $600 lease cash.

Thank You

samny1

Michaell said:

samny1 said:

Hi,

Could you please provide the RV and MF for a 2016 Traverse AWD 2LT and 1LT for 15k and 12K 36 months in NY?

Thank you

.00065 and 58% (2LT) or 60% (1LT). $600 lease cash.

Sorry, are those RV for 12K or 15K?

Thanks

Michaell

samny1 said:

Michaell said:

samny1 said:

Hi,

Could you please provide the RV and MF for a 2016 Traverse AWD 2LT and 1LT for 15k and 12K 36 months in NY?

Thank you

.00065 and 58% (2LT) or 60% (1LT). $600 lease cash.

Sorry, are those RV for 12K or 15K?

Thanks

Huh, just noticed you asked for both. These are the 12K residuals; subtract 2% for 15K.

samny1

Michaell said:

samny1 said:

Michaell said:

samny1 said:

Hi,

Could you please provide the RV and MF for a 2016 Traverse AWD 2LT and 1LT for 15k and 12K 36 months in NY?

Thank you

.00065 and 58% (2LT) or 60% (1LT). $600 lease cash.

Sorry, are those RV for 12K or 15K?

Thanks

Huh, just noticed you asked for both. These are the 12K residuals; subtract 2% for 15K.

Great, thanks

djsazon

Hello - Could someone kindly provide the lease info for NJ: Traverse AWD 1LS, 12k/36m. Thank you in advance.

Michaell

djsazon said:

Hello - Could someone kindly provide the lease info for NJ: Traverse AWD 1LS, 12k/36m. Thank you in advance.

.00065 and 60%. $600 lease cash.

djsazon

Michaell said:

djsazon said:

Hello - Could someone kindly provide the lease info for NJ: Traverse AWD 1LS, 12k/36m. Thank you in advance.

.00065 and 60%. $600 lease cash.

Thanks !!

ec1

Could you provide residual, money factor and lease cash for Traverse 2LT for 24 month, 15K miles per year?

kyfdx

ec1 said:

Could you provide residual, money factor and lease cash for Traverse 2LT for 24 month, 15K miles per year?

.00055 MF and 63% residual. $240 lease cash

korryn07

Hello! Could you please provide some info on Traverse AWD 1LT for 10k 36 months in PA. Thank you! I'm new to leasing!

Michaell

korryn07 said:

Hello! Could you please provide some info on Traverse AWD 1LT for 10k 36 months in PA. Thank you! I'm new to leasing!

.00065 and 61%. $240 lease cash.

karo317

Could you please tell me the MF and RV for an AWD LS in Delaware? 12k/36m and 15k/36m.

kyfdx

karo317 said:

Could you please tell me the MF and RV for an AWD LS in Delaware? 12k/36m and 15k/36m.

.00065 MF and 60%/58% residual. $240 lease cash.

nixter

Could you please tell me the MF and RV for a 2016 Traverse FWD LS in Iowa? 10k/36m and 10k/39m. Also, how do you find out the MF and RV's? Thanks!

kyfdx

nixter said:

Could you please tell me the MF and RV for a 2016 Traverse FWD LS in Iowa? 10k/36m and 10k/39m. Also, how do you find out the MF and RV's? Thanks!

.00065 MF and 61%/59% residual. $240 lease cash

Our sources are confidential.

biminigirl

Hello, can you provide the MF and residual for 2016 Chevy Traverse 2LT 15K miles per year, 36 months. In Maryland. Thanks.

Michaell

biminigirl said:

Hello, can you provide the MF and residual for 2016 Chevy Traverse 2LT 15K miles per year, 36 months. In Maryland. Thanks.

.00065 and 56% FWD or 58% AWD. $240 lease cash.

nixter

My dealer has a 1LT in stock that I like. Could you please tell me the MF and RV for a 2016 Traverse FWD 1LT in Iowa? 10k/39m. Thanks!

kyfdx

nixter said:

My dealer has a 1LT in stock that I like. Could you please tell me the MF and RV for a 2016 Traverse FWD 1LT in Iowa? 10k/39m. Thanks!

.00065 MF and 59% residual. $240 lease cash.

squirrelchaser

Looking for residual and MF on a 2016 1LT and 2LT in NY for 3/36k. Any incentives? Thank you. 

Michaell

squirrelchaser said:

Looking for residual and MF on a 2016 1LT and 2LT in NY for 3/36k. Any incentives? Thank you. 

.00065 and 58% (2LT) or 60% (1LT). $240 lease cash.

alyc515

Hi - I need help understanding what a good deal is on this car. Details:

2016 Traverse AWD 2LT w/ sunroof (Sticker: http://www.colonialsouthchevy.com/f_WindowSticker?VIN=1GNKVHKD9GJ335083)

MSRP: $40,800
Trade-in Equity: assuming ~$700
Trading in a Hyundai lease and paid off Highlander (they're giving me $15k for both, payoff is $14,300)
Should be some lease conquest cash - they're telling me rebates are $2k total
Looking at $0 down, 39/m lease at 10k miles (I think residual here is 59%?)
This is in MA.

Based off of the above, any thoughts on what a good monthly payment on those terms are? Or, does anyone have an excel spreadsheet or calculator to help?

Many thanks in advance!

Michaell

alyc515 said:

Hi - I need help understanding what a good deal is on this car. Details:

2016 Traverse AWD 2LT w/ sunroof (Sticker: http://www.colonialsouthchevy.com/f_WindowSticker?VIN=1GNKVHKD9GJ335083)

MSRP: $40,800
Trade-in Equity: assuming ~$700
Trading in a Hyundai lease and paid off Highlander (they're giving me $15k for both, payoff is $14,300)
Should be some lease conquest cash - they're telling me rebates are $2k total
Looking at $0 down, 39/m lease at 10k miles (I think residual here is 59%?)
This is in MA.

Based off of the above, any thoughts on what a good monthly payment on those terms are? Or, does anyone have an excel spreadsheet or calculator to help?

Many thanks in advance!

.00065 and 57% for 39/10. $240 lease cash. No information on other incentives. 59% is 39/10 for 1LT

The monthly payment will be based on the negotiated selling price.

25or6to4

alyc515 said:

 Or, does anyone have an excel spreadsheet or calculator to help? Many thanks in advance!

If you have a smartphone, there are plenty of lease calculator apps available. I'm going to use the info here to try to get my dad into a Traverse here in MA.

Michaell

25or6to4 said:

alyc515 said:

 Or, does anyone have an excel spreadsheet or calculator to help?

Many thanks in advance!

If you have a smartphone, there are plenty of lease calculator apps available. I'm going to use the info here to try to get my dad into a Traverse here in MA.

The problem with any sort of 'off the shelf' calculator or app is that there may be assumptions made about the lease that can affect the results.

Here is a link to an article that shows you how to build your own calculator in a spreadsheet:

http://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html

allenness

Could I please get MF and residual for May on 2016 Traverse 2LT AWD - 48 mo / 10k? I'm in PA. Thanks in advance!

Michaell

allenness said:

Could I please get MF and residual for May on 2016 Traverse 2LT AWD - 48 mo / 10k? I'm in PA. Thanks in advance!

.00090 and 52%. $240 lease cash

allenness

Michaell said:

allenness said:

Could I please get MF and residual for May on 2016 Traverse 2LT AWD - 48 mo / 10k? I'm in PA. Thanks in advance!

.00090 and 52%. $240 lease cash

Thank you, Michael. I signed a deal yesterday and wanted to confirm the numbers. Are you sure it's 52% and not 53? I did get 0.0009 MF, but they said residual is 53%, which is what ended up in the paperwork. If that's a mistake, I guess I won't argue that, since changing it to 52 would increase my payments.

Thanks!

Michaell

allenness said:

Michaell said:

allenness said:

Could I please get MF and residual for May on 2016 Traverse 2LT AWD - 48 mo / 10k? I'm in PA. Thanks in advance!

.00090 and 52%. $240 lease cash

Thank you, Michael. I signed a deal yesterday and wanted to confirm the numbers. Are you sure it's 52% and not 53? I did get 0.0009 MF, but they said residual is 53%, which is what ended up in the paperwork. If that's a mistake, I guess I won't argue that, since changing it to 52 would increase my payments.

Thanks!

The numbers I have from GM Financial show 52% for 48/10 for the 2LT.

53% is the 48/12 residual for the 1LT.

If they've used the wrong residual, the contract will be turned around and you'll have to re-sign with the correct residual - and payment.

allenness

Thanks, Michaell! I signed the lease on 5/30, haven't heard anything yet. If they mistakenly put 1% higher residual, which equals to $440 difference, think it's fair to expect them to absorb the difference, since I negotiated based on payments and would not be in favor of having them go up as a result?

kyfdx

allenness said:

Thanks, Michaell! I signed the lease on 5/30, haven't heard anything yet. If they mistakenly put 1% higher residual, which equals to $440 difference, think it's fair to expect them to absorb the difference, since I negotiated based on payments and would not be in favor of having them go up as a result?

If you agreed to a payment, I wouldn't accept a new contract with a higher payment or more money upfront.

Michaell

kyfdx said:

allenness said:

Thanks, Michaell! I signed the lease on 5/30, haven't heard anything yet. If they mistakenly put 1% higher residual, which equals to $440 difference, think it's fair to expect them to absorb the difference, since I negotiated based on payments and would not be in favor of having them go up as a result?

If you agreed to a payment, I wouldn't accept a new contract with a higher payment or more money upfront.

Agreed ... dealer needs to eat the $440 difference, either with a lower cap cost or a higher allowance for a trade in - if there was one.

allenness

Michaell said:

kyfdx said:

allenness said:

Thanks, Michaell! I signed the lease on 5/30, haven't heard anything yet. If they mistakenly put 1% higher residual, which equals to $440 difference, think it's fair to expect them to absorb the difference, since I negotiated based on payments and would not be in favor of having them go up as a result?

If you agreed to a payment, I wouldn't accept a new contract with a higher payment or more money upfront.

Agreed ... dealer needs to eat the $440 difference, either with a lower cap cost or a higher allowance for a trade in - if there was one.

Yep... that's what I'm thinking. Thank you, gentlemen. It's been 4 days since I signed the lease. Not sure how long it would normally take for GM Financial to receive paperwork and turn it around. Guess time will tell. Thanks again for your info.

sk99

@Michaell can you help with the June MF, Residual for Traverse LTZ for 36/39 months and 12K /15K miles in NJ?
I looked in Edmunds Incentives and it says $1,000 customer cash and $240 Lease Bonus Cash. Does that mean I can apply $1,240? Are there any other incentives you're seeing as well? Thanks in advance.

Michaell

sk99 said:

@Michaell can you help with the June MF, Residual for Traverse LTZ for 36/39 months and 12K /15K miles in NJ?
I looked in Edmunds Incentives and it says $1,000 customer cash and $240 Lease Bonus Cash. Does that mean I can apply $1,240? Are there any other incentives you're seeing as well? Thanks in advance.

.00065 and 56% for 36/15. Subtract 2% for 39 months; add 2% for 12k miles.

I only see the $240 lease cash; not certain that the $1000 customer cash applies to a lease - you'd have to ask your dealer.

zac31

What is the MF and RV in NJ for Traverse 1LT AWD? 12k/36. Thank you.