Hello Car_man Can you please let me know if this is a good deal or if I can get a better one. I live in Georgia i'm trying to lease a 07 chevy tahoe LT3 with nav, screen and 20" the MSRP IS $46,775 there selling it for $43,300 the lease is for 48month 12k per year residual 55% $1792.10 total down and my sell taxes are 6% the told me my payment with taxes would be $616.46 does that sound like a fair deal? Thank you in advance for you imput.
Hey, leo109, I know your question was directed to car_man, but it seems as though they are not giving you much of a discount on the selling price.... I think you could negotiate a better selling price. As far as the residual value goes, Car_man said in the past that GM is currently using 60% r/v at 6.9%.... This forum has been very quite and the hosts are often busy in other more frequently used forums. hope you can work out a better deal!
I've been looking for an LT3 or z71 w/ nav rear entertainment etc... and I've been qouted $45,999 for one that msrp'd at 52,820. and other quotes are similar approx. 6,000 off msrp! I'm not sure how differently the prices may be where you live but they couldn't be that far off! good luck! let us know how you do! dubbs
First, THANK YOU for helping all of us on this board with questions out!
I'm looking to lease an 07 Tahoe LT2 4WD with an MSRP of $49095. The periods that I'm looking for pricing on are 36 mo/15k mi, and 48 mo/15k per year. Heeding your advice on high cap cost reductions, I'd like to know what the ideal prices would be in NJ (sales tax 7%) with zero-down.
Also, I've heard/read that leasing and then buying a car out can be the most cost-efficient way of purchasing a car. Is this true? If so, could you explain how this should be done?
Hey Car_man, I guess I shoud've been more specific on my previous post,sorry about that. The vehicle I'm looking at would be a 2007 Tahoe 2WD LT 3LT w/nav/entertainment system/20in wheels. I got this from the supplier website. I can get the GM employee discount and I'm thinking supplier price and that might be the same thing. Anyways, I'm looking to lease on 12-24-36 w/15k mi. I live in Houston, TX so I beleive my taxes are 6.25 for vehicles. Can you give me a rough estimate on a payment from the numbers below. I don't want to put any money down. Total MSRP:* $48,440.00 Supplier Price:* $43,998.34 Rebate: $2000.00 Total: $41,998.34
Recently had drivers rear caliper seize on my 200 chevy tahoe. Replaced caliper and pads only to find that the new caliper is locked as well. It is as if the emergency brake is on, but have checked the link. Any other suggestions to check?
This is a pricing discussion.. Try posting here: Chevy Tahoe Maintenance and Repair, and you'll have a better chance of finding someone with advice about your problem.
Is there any indication that the lease factors will change in the near future. I have been looking at the Tahoe and the MF is way to high. I am not in a hurry, but need to move in the next 30 days on a lease.
I would be happy to help you out, Dariel. This truck's lease payment will vary depending upon what term and mileage allowance you select. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. According to my calculations, if you were to lease a 2007 Chevrolet Tahoe with an MSRP of $44,945 and a selling price of $39,076.52 through GMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $527.
Hi leo109. Let's take a look at this deal. The 2007 Chevrolet Tahoe that you described has a spread of around $4,500 between its full MSRP and dealer invoice price. You were quoted a discount of around $3,500 on the model that you are considering. This is probably around $1,000 over invoice, which isn't bad. There's still some room to work with, so it wouldn't hurt to comparison shop with a couple of other dealers but again this isn't a bad price. this truck's 48 month, 12,000 mile per year residual value is indeed 55%. Make sure that the dealer that you get your truck from uses GMAC's base lease rate of 6.9% to calculate your truck's monthly payment.
No problem, mabraham77. Your truck's lease payment will depend upon what sort of selling price you are able to negotiate on it. The lower your truck's selling price is, the lower its monthly payment will be. I would be happy to work up a sample lease payment on the specific Tahoe that you are interested in if you provide me with an approximate selling price for it. You may be able to get an idea of how much you will have to pay for this truck right now by visiting the following discussion: "Chevy Tahoe: Prices Paid & Buying Experiences". Let me know and I'll crunch some numbers for you.
I would not necessarily say that leasing a vehicle and then purchasing it at the end of your lease is the most inexpensive to purchase one. Manufacturers often artificially inflate vehicles' residual values. This is great during your lease because it provides you with an attractive monthly payment, but it also makes your vehicle much more expensive to purchase at lease-end than it would be if you had purchased a similar model on the open market. If you are considering purchasing your leased vehicle at the end of its term, you need to compare your purchase option price to the price that you could realistically expect to get a similar vehicle for on the open market. If your leased car or truck's purchase option price is less than or equivalent to what you would have to pay for a similar vehicle on the open market, you may want to consider buying it. If your purchase option price is much higher, it is better to just walk away at lease-end.
Hello goodhands. General Motors' current lease program for the 2007 Chevrolet Tahoe is scheduled to run through February 28th. There is always a chance that it will make an unscheduled revision to its incentives, but one never knows when that will happen. Sometimes automakers make changes to their programs at the beginning of the month. If you would like, please feel free to check back with me in a couple of days and I will let you know if GM has made any changes to its incentives on the Tahoe.
Thanks for the feedback car_man. Would itbe possible to give me the estimate on these numbers that I had put up after this post? I don't know if the numbers will change all that much. But to answer your question on the length of the lease, it doesn't really matter I can do any of the 12-24-36mo. Whichever is the cheapest. My main thing is nothing down with 15k miles per year. I live in Houston, Texas so my taxes are 6.25%.
other post "Hey Car_man, I guess I shoud've been more specific on my previous post,sorry about that. The vehicle I'm looking at would be a 2007 Tahoe 2WD LT 3LT w/nav/entertainment system/20in wheels. I got this from the supplier website. I can get the GM employee discount and I'm thinking supplier price and that might be the same thing. Anyways, I'm looking to lease on 12-24-36 w/15k mi. I live in Houston, TX so I beleive my taxes are 6.25 for vehicles. Can you give me a rough estimate on a payment from the numbers below. I don't want to put any money down."
Total MSRP:* $48,440.00 Supplier Price:* $43,998.34 Rebate: $2000.00 Total: $41,998.34
No problem, dcbeltran. OK, let's use these numbers to work up a lease payment. A 39 month lease will probably provide you with the lowest monthly payment, so that's the term I'll use. According to my calculations, if you were to lease a 2007 Chevrolet Tahoe that has an MSRP of $48,440 and a selling price of $41,999 through GMAC right now for 39 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $547.
Car Man The lease particulars on the 2007 Chevy Tahoe MSRP $48,440 that you just mentioned is almost exactly what I was given 2/24 at a NJ dealership ($550/mo). I am concerned with the total on the fees that I was given... w/zero down I was told I would need to write a check for nearly $3,500 to drive away. Can you ballpark what is a typical $amount to drive away and what I might look for in the fee breakdown that could be excessive?
I am looking to lease a 07 Tahoe LT1, pretty simple options, with the dealer price shown to me of $37,340.00. I want to lease (39 months), and maybe put $2,000.00 down. I went to a Checy dealer in California who claimed that the Tahoes are moving so well the ability/motivation to make a "good" deal was slim. I am about $3,000 upside down in an 04 Expedition as well. Bottom line, they quoted me the following: $1,700 down, $715 a month for 36 months at 15,000 miles. This seems really high to lease a Tahoe. Is this a good deal, and how do I figure out the residual for a Tahoe? Also, whats the best way to deal with my upside down car?
I am willing to put $2,000 down and pay between $450-$500 a month. Am I kidding myself?
kday that dealer is full of it. On the east coast i see adds offering $10,000 off msrp in the newspaper, or $50 over invoice at other dealers. There is no way I would pay that much for a Tahoe, even with your trade being upside down.
I have never been to this particular forum so I am very curious about it. So I am just going to ask I guess the CarMan and see what happens. I am wanting a 07 Tahoe LT3(definatly with EntertainmentDVD center). Anyway I have a 04 Yukon that I will probably be about 5,000 upside down and I would lease the new one. I would probably put about 3,000 down, I would like to know about how much my monthly payments would be. Thanks. Probably with 15,000 miles/per year and I am in SF BAy area
I have never used this forum but I thought I would give it a shot. I am looking to lease a 2007 Chevy Tahoe LT2, 2wd (basic package - leather, but no chrome wheels, no sunroof, no navigation) for 30 months at 15,000 miles per year. I will put down TTL, which I estimate to be around $2,300. The MSRP is around $39,500. I have negotiated a price of around $34,000. Also, I do not have a trade-in. First, does that price seem like a bargain, or can I potentially go lower? Second, what monthly lease payment would be fair? Thank you for you help.
I am getting the GM supplier discount on a 2007 Chevy tahoe LT2 with Moonroof, 2nd Row Captains and 3rd Row 3 Seat and the Daytime Running Light Option for $39,994.10 Less a $500 Dollar Incentive from the factory totaling a $39,494.00 Purchase Price. I am getting a lease quote of 499.00 With 2300 Down plus Taxes, Tags and Deposit. I am not feeling like this is the best I can get. My Credit Score is 731 and my wife is 767 so I think we qualify for the best lease rates. Can you give me what I should be looking for from a payment and if there are any other rebates I am missing. Looking for 36 or 39 months at 12k Per year.
Hi kday. Is $37,340 this truck's MSRP or its selling price? Both numbers are important to know when leasing. When you have both of them you can tell how much of a discount you are being given and both numbers are necessary to calculate your truck's lease payment. Let me know and I will tell you what I think of this deal. For now I can tell you that GMAC's base lease rate and residual value for a 36 month lease of an '07 Tahoe with 15,000 miles per year are 6.9% and 60%, respectively.
Welcome allison5. Unfortunately, the fact that you are $5,000 upside down on your current truck is going to make leasing a new one much more expensive than it would normally be. You are going to either have to pay the amount that you are upside down out of your own pocket or roll as much of it as possible into your next lease. Either way, you would be better off waiting until you are less upside down to get something new.
I would be happy to give you an idea of how much the new truck that you are interested in will cost you to lease right now. I just need you to provide me with its MSRP and approximate selling price first. You can look up its MSRP in the following section of this site: Edmunds.com - New Vehicle Pricing. You should be able to get a good idea of how much you will have to pay for this truck by visiting the following discussion: "Chevy Tahoe: Prices Paid & Buying Experiences". If not, just let me know what its dealer invoice price is and I will make an assumption about the selling price for the purpose of calculating your lease payment.
Welcome gpvalent. The selling price that you were quoted for this truck looks very attractive. GMAC's current base lease rate and residual value for a 30 month lease of a 2007 Chevrolet Tahoe with 15,000 miles per year are 6.9% and 63%, respectively. Using this lease program, an MSRP of $39,500, and a selling price of $34,000, I estimate that your zero down, pre-tax monthly payment for this truck should be around $474.
Hi yakmi01. The fact that you are able to purchase this truck through General Motors' Supplier Purchase Program assures that you are getting a good selling price. The payment that you were quoted is probably a little higher than you would like it to be because GM's lease program on the 2007 Tahoe is not very good. You are being given all of the cash incentives that are compatible with GMAC's lease program. I would be happy to double check the lease payment that you were quoted for you, but in order for me to do so I need you to provide me with this truck's full MSRP.
Found a 07 Tahoe LTZ list price $53,015. I've tried doing the lease calculator and it doens't seem right. I want to lease the vehicle for 39 months/15k miles with nothing down. We live outside the city limits of Omaha, NE and our taxes are 5.5% What would the lease payment be? Any help would be great. Not sure what lease rebates are out there either. Thanks in advance.
Unfortunately, since I posted I realized one major flaw in my question. Because I cannot get the $2,000 in GM rebates when leasing, my price would be around $36,000, not $34,000. After having spent more time the last couple of days shopping lease deals and haggling, I have received lease estimates ranging from $570 to $700 (that's with $2800 down, for 36 months, and 15K miles per year), all of which are allegedly "great deals" -- yeah right. As a result, I have given up on the idea of leasing for the time being. Thanks again for your help--gpvalent
Have this offer; Tahoe 2007 LTZ MFSRP $48,620.00 Selling Price $43,732.00
This looks like a spread of about $5000. I think this is a good deal. What do you think? What payments am I expecting to lease for 30mnths 10K miles. No down payment. have excellent credit.
Hi I am looking to Lease a 2007 Tahoe LS 2wd for 36 mo, I have been quoted $2500 down with a payment of $385 pre tax. This is also using the $2000 customer cash for a full down of $4500 Is this a good deal or can I get better. I will go to a 39 if this helps. I think the purchase price was $30,000 and a rate of 7.5%. I want to buy soon please let me know ASAP. Thanks
Hi mike3767. This truck's lease payment will vary depending upon the selling price that you are able to negotiate on it. I will gladly use GMAC's current lease program for it to estimate what your monthly payment would be if you let me know what the selling price is.
No problem gpvalent. General Motors' lease program for the Chevy Tahoe is not very attractive right now anyhow. I think that you've made a wise choice. If I was in the market for one, I personally would probably just pay cash for or finance it instead of leasing it.
Thanks for the additional information, yakmi01. OK, so you're interested in leasing a 2007 Chevrolet Tahoe that has an MSRP of $43,415 and a selling price of $39,494. According to my calculations, if you were to lease this truck through GMAC right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $530. The payment for an otherwise identical 39 month lease would be around $514.
Hi borderman01. A base 2007 Chevrolet Tahoe LTZ AWD has a spread of around $4,800 between its full MSRP and its dealer invoice price. That is right around the discount that you are being given on this truck, so it looks to me as through you are getting a good deal on it.
Let's use GMAC's current lease program to estimate what your monthly payment would be if you decide to lease through it. According to my calculations, if you were to lease a 2007 Chevrolet Tahoe that has an MSRP of $48,620 and a selling price of $43,732 through GMAC right now for 30 months with 10,000 miles per year, your zero down, pre-tax monthly payment would be around $607.
Hi chrod. The $2,000 customer cash that General Motors is currently providing on the 2007 Chevrolet Tahoe is not available on leases of it through GMAC. As a result, I suspect that the dealer that you are working with is probably running your lease through an independent bank rather than GMAC. I haven't seen this done on this particular truck recently, but given how poor GM's lease program for this truck is I am not surprised that it might be less expensive to take advantage of the customer cash and lease it through an independent bank.
In your post you mentioned that this truck's selling price is $30,000. What is its MSRP? It will show me how much of a discount you are being given and help me to give you my opinion of this deal.
I was just offered the following lease from a dealership in the Boston area. I think it's a fair offer but any feedback would be appreciated. Also, if I can wait a few months is there any benefit to ordering a 2008 instead?
Is it better when negotiating with dealership to come out and ask for let's say the amt you calculated $607 pretax for 30 mnths 10K miles than negotiate price then go to leasing terms. Also is it possible to first go to GMAC and get a quote in terms of lease rate and bring it with you to the dealership to make sure dealer is not driving up price for his profit ? The reason is they will always say the system gave them this quote which makes payment higher. Thanks.
Car Man Ive been in the market for an 07 Tahoe for some time now and the quotes Im getting seem really high. Heres my situation: Im trading in a 2004 Acura MDX, most dealers say the'll give me $20k for my car. My payoff is $22,000. So im $2k upside to start. The Tahoe I want invoices for $40,000, plus $4000 in dealer upgrades, for 20" wheels, chrome packge, ect. (they wont negotiate the upgrades, its $4k). So my the selling price would be right at $44,000. I wanted to lease for 39 or 48 months, with 12k miles a year. I am willing to put down $2500+. The dealers tell me there using 6.9% rate & residuals around 60-62%. The payments im shown are $670 to over $700(this is with Floridas 7% sales tax included). Is this right??? Could you show the math as best you can so I have something ot go off, I dont know how to calculate/amortize a lease and feel the dealers arent being straight. Thanks a lot! Ryan
I am a new member tothis forum, however I have read the posts for general advice for quite a while. This is a great forum and I appreciate the help.
I am currently looking at a 2007 Tahoe LTZ LOADED!!! I am pretty sure I have a really good grasp on how to figure out the best lease price using the lease formula. The part that has me shook is the salesman telling me that the inception fees will be roughly $3500 on this truck. I told the dealer I do not want to put any money down and he said the $3500 was just inception fees. I feel like this is really high. I was under the impression that inception fees are typically tax, title and tags. Is that correct? If so does $3500 for inception fees seem really high?
I think I can help you figure out if this is a good deal. You are missing a critical piece of info which is the MSRP of the vehicle. You also mentioned the invoice is 40k. Are they selling you the car for dealer invoice?
Lets assume the MSRP is roughly 48k. The residual at 60% would be $28800. With the price you said you'd be paying of 44k that makes the depreciation $15200 over 48 months = $316.66. Now we add the residual value of 28800 + the cap cost of 44000 which = 72800. We take the 72800 and multiply it by .002875 (which is the money factor for 6.9%)which = $209.30. Add $316.66 and $209.30 = $525.96 X 7% tax = $562.77. Plus, if you are putting $2500 down toward cap cost reduction that should get you at least $50 off per month giving you a monthly payment of $512.77.
The $670 to $700 per month payment you were offered based on the figures you provided are HORRIBLE deals. I am baffled as to where they came up with those payments based on the info you provided.
Scoot84 said: was under the impression that inception fees are typically tax, title and tags. Is that correct? If so does $3500 for inception fees seem really high? ____________________________________________________________ If you have a state sales tax where you live and the MSRP of the loaded LTZ is $50K then the sales tax alone would be $3500 if your tax rate was 7%....However if you don't have a sales tax then $3500 is way high for title and tags.
Thanks for the quick reply. I guess I am confused because on so many other cars I have been receiving quotes for in the same MSRP price range for a lease the inceptions only cost was about $1750 out of pocket. New Jersey does have a 7% sales tax, but I guess I thought that was factored in to the monthly payment rather than an upfront cost. Could it be that they are trying to get me to pay the taxes up front to keep the payment down a bit? Do you pay the 7% sales tax on the Cap Cost when you lease a car?
oot84 said: New Jersey does have a 7% sales tax, but I guess I thought that was factored in to the monthly payment rather than an upfront cost. ____________________________________________________________ I think in most states the sales tax is added on to the monthly lease payment so you pay the tax as you go. I think they are trying to hi-ball you on the upfront. If you are getting much lower quotes from other dealers on vehicles costng approximately the same then you know something is wrong. Your upfront should only be for registration, title, and plates. Anything else is just dealer profit. At least that's the way I see it.
Thanks very much. They are leasing me the car at invoice, but how there coming up with the payments is unknown. I figured there numbers had to be way off. Thanks for the math tips. Some of these car dealers think there the only game in town, its a freaking chevy not a ferrari. In my area there are at least 5 other dealships within 20 miles. Needless to say Im wont go back to the one that made me this offer. Thanks again.
I have a current offer for a 2007 Tahoe Lease, 12k, 36 months with $3k total at signing. MSRP is $53,015 and selling price is $48,643. Dealer is saying $634.56 for 36 months and $619.00 a month for 39 months, same mileage. This includes tax at 5.5%. Tier 1 credit. Is this a good deal?
Hi mdeuce. The lease rate and residual value that you were quoted for this truck look good to me. The truck that you described probably has a spread of around $4,500 between its full MSRP and its dealer invoice price. The $3,900 discount that you are being given puts you at right around $600 over invoice, which isn't bad. If you aren't in a hurry to lease this truck, it would probably be in your best interest to wait until the end of the month to get it. While there is no guarantee that this will be the case, I suspect that GM will enhance its incentives on the Tahoe in late June, just as it did in late May.
Hi borderman01. You can negotiate a lease either way. There's nothing wrong with calculating the lease payment that you are interested in before visiting dealers and then asking for it. Having said this, I personally prefer to negotiate as low a selling price as I can on the vehicle that I want and then have the dealer calculate its monthly payment using its buy rate lease money factor or base lease rate. Unfortunately, GMAC does not deal directly with the public. You will have to negotiate your lease with the dealer.
Comments
Can you give me an estimate payment on a 07 tahoe MSRP 44945 and set price of 39076.52. I live in Houston,TX.
Thanks
Dariel
Can you please let me know if this is a good deal or if I can get a better one.
I live in Georgia i'm trying to lease a 07 chevy tahoe LT3
with nav, screen and 20" the MSRP IS $46,775 there selling it for $43,300 the lease is for 48month 12k per year residual 55% $1792.10 total down and my sell taxes are 6% the told me my payment with taxes would be $616.46 does that sound like a fair deal?
Thank you in advance for you imput.
I know your question was directed to car_man, but it seems as though they are not giving you much of a discount on the selling price.... I think you could negotiate a better selling price. As far as the residual value goes, Car_man said in the past that GM is currently using 60% r/v at 6.9%.... This forum has been very quite and the hosts are often busy in other more frequently used forums.
hope you can work out a better deal!
dubbs
First, THANK YOU for helping all of us on this board with questions out!
I'm looking to lease an 07 Tahoe LT2 4WD with an MSRP of $49095. The periods that I'm looking for pricing on are 36 mo/15k mi, and 48 mo/15k per year. Heeding your advice on high cap cost reductions, I'd like to know what the ideal prices would be in NJ (sales tax 7%) with zero-down.
Also, I've heard/read that leasing and then buying a car out can be the most cost-efficient way of purchasing a car. Is this true? If so, could you explain how this should be done?
Thanks a million!
Total MSRP:* $48,440.00
Supplier Price:* $43,998.34
Rebate: $2000.00
Total: $41,998.34
This is a pricing discussion.. Try posting here: Chevy Tahoe Maintenance and Repair, and you'll have a better chance of finding someone with advice about your problem.
regards,
kyfdx
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I would not necessarily say that leasing a vehicle and then purchasing it at the end of your lease is the most inexpensive to purchase one. Manufacturers often artificially inflate vehicles' residual values. This is great during your lease because it provides you with an attractive monthly payment, but it also makes your vehicle much more expensive to purchase at lease-end than it would be if you had purchased a similar model on the open market. If you are considering purchasing your leased vehicle at the end of its term, you need to compare your purchase option price to the price that you could realistically expect to get a similar vehicle for on the open market. If your leased car or truck's purchase option price is less than or equivalent to what you would have to pay for a similar vehicle on the open market, you may want to consider buying it. If your purchase option price is much higher, it is better to just walk away at lease-end.
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other post
"Hey Car_man, I guess I shoud've been more specific on my previous post,sorry about that. The vehicle I'm looking at would be a 2007 Tahoe 2WD LT 3LT w/nav/entertainment system/20in wheels. I got this from the supplier website. I can get the GM employee discount and I'm thinking supplier price and that might be the same thing. Anyways, I'm looking to lease on 12-24-36 w/15k mi. I live in Houston, TX so I beleive my taxes are 6.25 for vehicles. Can you give me a rough estimate on a payment from the numbers below. I don't want to put any money down."
Total MSRP:* $48,440.00
Supplier Price:* $43,998.34
Rebate: $2000.00
Total: $41,998.34
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The lease particulars on the 2007 Chevy Tahoe MSRP $48,440 that you just mentioned is almost exactly what I was given 2/24 at a NJ dealership ($550/mo). I am concerned with the total on the fees that I was given... w/zero down I was told I would need to write a check for nearly $3,500 to drive away. Can you ballpark what is a typical $amount to drive away and what I might look for in the fee breakdown that could be excessive?
I am looking to lease a 07 Tahoe LT1, pretty simple options, with the dealer price shown to me of $37,340.00. I want to lease (39 months), and maybe put $2,000.00 down. I went to a Checy dealer in California who claimed that the Tahoes are moving so well the ability/motivation to make a "good" deal was slim. I am about $3,000 upside down in an 04 Expedition as well.
Bottom line, they quoted me the following:
$1,700 down, $715 a month for 36 months at 15,000 miles. This seems really high to lease a Tahoe. Is this a good deal, and how do I figure out the residual for a Tahoe? Also, whats the best way to deal with my upside down car?
I am willing to put $2,000 down and pay between $450-$500 a month. Am I kidding myself?
Thanks
I have never been to this particular forum so I am very curious about it. So I am just going to ask I guess the CarMan and see what happens. I am wanting a 07 Tahoe LT3(definatly with EntertainmentDVD center). Anyway I have a 04 Yukon that I will probably be about 5,000 upside down and I would lease the new one. I would probably put about 3,000 down, I would like to know about how much my monthly payments would be. Thanks. Probably with 15,000 miles/per year and I am in SF BAy area
I have never used this forum but I thought I would give it a shot. I am looking to lease a 2007 Chevy Tahoe LT2, 2wd (basic package - leather, but no chrome wheels, no sunroof, no navigation) for 30 months at 15,000 miles per year. I will put down TTL, which I estimate to be around $2,300. The MSRP is around $39,500. I have negotiated a price of around $34,000. Also, I do not have a trade-in. First, does that price seem like a bargain, or can I potentially go lower? Second, what monthly lease payment would be fair? Thank you for you help.
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I would be happy to give you an idea of how much the new truck that you are interested in will cost you to lease right now. I just need you to provide me with its MSRP and approximate selling price first. You can look up its MSRP in the following section of this site: Edmunds.com - New Vehicle Pricing. You should be able to get a good idea of how much you will have to pay for this truck by visiting the following discussion: "Chevy Tahoe: Prices Paid & Buying Experiences". If not, just let me know what its dealer invoice price is and I will make an assumption about the selling price for the purpose of calculating your lease payment.
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Unfortunately, since I posted I realized one major flaw in my question. Because I cannot get the $2,000 in GM rebates when leasing, my price would be around $36,000, not $34,000. After having spent more time the last couple of days shopping lease deals and haggling, I have received lease estimates ranging from $570 to $700 (that's with $2800 down, for 36 months, and 15K miles per year), all of which are allegedly "great deals" -- yeah right. As a result, I have given up on the idea of leasing for the time being. Thanks again for your help--gpvalent
Tahoe 2007 LTZ
MFSRP $48,620.00
Selling Price $43,732.00
This looks like a spread of about $5000. I think this is a good deal. What do you think? What payments am I expecting to lease for 30mnths 10K miles. No down payment. have excellent credit.
Thanks.
Thanks
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Let me know if you have any other questions.
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Let's use GMAC's current lease program to estimate what your monthly payment would be if you decide to lease through it. According to my calculations, if you were to lease a 2007 Chevrolet Tahoe that has an MSRP of $48,620 and a selling price of $43,732 through GMAC right now for 30 months with 10,000 miles per year, your zero down, pre-tax monthly payment would be around $607.
Car_man
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In your post you mentioned that this truck's selling price is $30,000. What is its MSRP? It will show me how much of a discount you are being given and help me to give you my opinion of this deal.
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2WD 3LT MSRP = $45,605
Selling Price = $41,700
MA Sales Tax = 5%
48 mo. lease, 12k miles/yr
55% residual and 6.9%
With no cap cost reduction and all fees paid out-of-pocket, roughly $1,400, they are asking for $576/mo. Good deal??
Ive been in the market for an 07 Tahoe for some time now and the quotes Im getting seem really high.
Heres my situation:
Im trading in a 2004 Acura MDX, most dealers say the'll give me $20k for my car. My payoff is $22,000. So im $2k upside to start.
The Tahoe I want invoices for $40,000, plus $4000 in dealer upgrades, for 20" wheels, chrome packge, ect. (they wont negotiate the upgrades, its $4k).
So my the selling price would be right at $44,000. I wanted to lease for 39 or 48 months, with 12k miles a year. I am willing to put down $2500+. The dealers tell me there using 6.9% rate & residuals around 60-62%. The payments im shown are $670 to over $700(this is with Floridas 7% sales tax included). Is this right??? Could you show the math as best you can so I have something ot go off, I dont know how to calculate/amortize a lease and feel the dealers arent being straight. Thanks a lot!
Ryan
I am a new member tothis forum, however I have read the posts for general advice for quite a while. This is a great forum and I appreciate the help.
I am currently looking at a 2007 Tahoe LTZ LOADED!!! I am pretty sure I have a really good grasp on how to figure out the best lease price using the lease formula. The part that has me shook is the salesman telling me that the inception fees will be roughly $3500 on this truck. I told the dealer I do not want to put any money down and he said the $3500 was just inception fees. I feel like this is really high. I was under the impression that inception fees are typically tax, title and tags. Is that correct? If so does $3500 for inception fees seem really high?
Thanks in advance.
I think I can help you figure out if this is a good deal. You are missing a critical piece of info which is the MSRP of the vehicle. You also mentioned the invoice is 40k. Are they selling you the car for dealer invoice?
Lets assume the MSRP is roughly 48k. The residual at 60% would be $28800. With the price you said you'd be paying of 44k that makes the depreciation $15200 over 48 months = $316.66. Now we add the residual value of 28800 + the cap cost of 44000 which = 72800. We take the 72800 and multiply it by .002875 (which is the money factor for 6.9%)which = $209.30. Add $316.66 and $209.30 = $525.96 X 7% tax = $562.77. Plus, if you are putting $2500 down toward cap cost reduction that should get you at least $50 off per month giving you a monthly payment of $512.77.
The $670 to $700 per month payment you were offered based on the figures you provided are HORRIBLE deals. I am baffled as to where they came up with those payments based on the info you provided.
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If you have a state sales tax where you live and the MSRP of the loaded LTZ is $50K then the sales tax alone would be $3500 if your tax rate was 7%....However if you don't have a sales tax then $3500 is way high for title and tags.
Thanks for the quick reply. I guess I am confused because on so many other cars I have been receiving quotes for in the same MSRP price range for a lease the inceptions only cost was about $1750 out of pocket. New Jersey does have a 7% sales tax, but I guess I thought that was factored in to the monthly payment rather than an upfront cost. Could it be that they are trying to get me to pay the taxes up front to keep the payment down a bit? Do you pay the 7% sales tax on the Cap Cost when you lease a car?
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I think in most states the sales tax is added on to the monthly lease payment so you pay the tax as you go. I think they are trying to hi-ball you on the upfront. If you are getting much lower quotes from other dealers on vehicles costng approximately the same then you know something is wrong. Your upfront should only be for registration, title, and plates. Anything else is just dealer profit. At least that's the way I see it.
Thanks very much. They are leasing me the car at invoice, but how there coming up with the payments is unknown. I figured there numbers had to be way off. Thanks for the math tips. Some of these car dealers think there the only game in town, its a freaking chevy not a ferrari. In my area there are at least 5 other dealships within 20 miles. Needless to say Im wont go back to the one that made me this offer. Thanks again.
I have a current offer for a 2007 Tahoe Lease, 12k, 36 months with $3k total at signing. MSRP is $53,015 and selling price is $48,643. Dealer is saying $634.56 for 36 months and $619.00 a month for 39 months, same mileage. This includes tax at 5.5%. Tier 1 credit. Is this a good deal?
Car_man
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