2013 and earlier Chevrolet Tahoe Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Ryan. The formula that is used to calculate lease payments is outlined in great detail in the following article: Calculate Your Own Lease Payment. Check it our and let me know if you have any questions.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi scoot84. $3,500 does sound very high for inception fees. In your state, at lease signing all you should have to pay are your truck's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, and GMAC's $595 acquisition fee. You should be able to roll all of the other items, like tax, title, and license into your vehicle's monthly payment. You can even add the acquisition fee to your truck's capitalized cost if you don't want to pay it at signing.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi heron25. This truck has a spread of around $5,400 between its full MSRP and its dealer invoice price. The $4,300 discount that you are being given on it isn't bad, but if I was in the market for a Tahoe right now I personally would wait until the end of the money to get one. GM introduced a $1,000 bonus cash incentive on the '07 Tahoe at the end of May that has since expired. I would not be surprised if it made a similar enhancement at the end of June. There's no guarantee that it will, but if you aren't in a hurry it won't hurt to wait until the end of the money to get your truck. As an added bonus, dealers always seem to be more anxious to deal at the end of the month.

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  • heron25heron25 Member Posts: 4
    Thanks Carman. Same dealer just called me and said he's willing to take $7k off of the MSRP so i believe he's now selling it for below invoice. I may have to jump on it now. I'm just wondering how hard of a time they have selling these things if they have to discount this much. This will be the first american car i've ever leased/purchased and i typically don't see this in german manufacturers.
  • shfawazshfawaz Member Posts: 27
    Hi Car Man. Can you provide the current lease rates and residuals for a 2007 Tahoe LTZ and/or LT if they differ? I am looking to lease for 24 months with 10,000 miles per year. Are there any current lease cap cost reductions available?
  • cams3cams3 Member Posts: 3
    Hello i just got a quote from my dealer in staten island of $614 a month (thats with TAX built into the payment)

    MSRP*: $44,875.00
    Supplier Price: $41,277.36
    Current Offers: -$2,000.00
    Net Price: $39,277.36
    39M\10K YR lease

    Is this about right, or can i get him to go down a little?
    Is the MoneyFactor and Residual Value still @ 6.9% and 60%
  • cynfl1cynfl1 Member Posts: 7
    I just joined the forum this evening, so I'm not sure if you already found out about the lease taxation question you had or not. New Jersey state law on leasing requires payment of upfront taxes as opposed to taxes paid on the lease stream. Most other states tax on the payment stream, but there are a few, including NJ that are paid upfront. Hope this helps.
  • audibuyeraudibuyer Member Posts: 7
    They must have seen me drive up in my Audi A8L. The dealership is quoting me for a 2007 Tahoe LTZ MSRP $52,839:

    15K miles a year
    36 Month
    .0079 Money Factor
    60% Residual
    $52,839 MSRP
    $50,350 Capital Cost ( so they are discounting the car about $2,500)
    6.25% For taxes
    0 down
    Monthly Payment $954 !!!

    This is ridiculous my Audi A8L 2005 payment is $907 a month based off $68,000.

    Then the quoted me $864 a month to purchase it out right based off $48,350 72 months. 0 down with taxes included.
    Any thoughts on this one?
    Thanks
  • jims52jims52 Member Posts: 3
    I am looking at a 2007 Tahoe LT2 4x4 in NJ and here is the lease offer the dealership gave me.

    MSRP: 44,000
    Lease payment: $440 a month
    Term: 39 months
    Miles: 12,000/yr
    Cap cost reduction: $1500 cash + 3600 GM Card earnings

    Is this a good lease deal? Also, they are only giving me the $1000 Bonus cash and said the $2000 Customer Rebate does not apply to leases. Is this correct? Do you think GM will offer any better lease deals on Tahoes in the near future? Thanks!
  • philly70philly70 Member Posts: 6
    Anyone have GM's latest residuals/buy-rate money factor for 36 and 39 months on the Tahoe?
  • jyoz1jyoz1 Member Posts: 6
    I am probably going to be aquiring a new LTZ very soon. I got a dealer to quote me $100 over invoice, which works for me. However the difference between edmunds invoice and the dealers invoice is about $1000,(1100 over edmunds invoice) owning to advertising fees. I have no problem with this, provided it is legit. The dealer has been very responsive and up front and I have no reason to doubt that this does exist. However I have bought seven new cars in my life and never heard of this before. Edmunds invoice is 47,603//msrp 53,140 dealer invoice is 48,646. I searched the archives and found some postings but wanted to re-address it. Thanks
  • rockman59rockman59 Member Posts: 250
    However the difference between edmunds invoice and the dealers invoice is about $1000,(1100 over edmunds invoice) owning to advertising fees.
    ____________________________________________________________
    In "the old days" dealers would consider advertising just another cost of doing business along with utilities, rent, etc. Nowdays since all dealers are expected to sell their vehicles for invoice or close to it they are looking at any way they can make a few more bucks. Charging an add fee is no different than if they said there would be rent fee or a utility fee added to your costs. Ask the dealer why they don't have a roof repair fee or a landscaping fee....it is all the same. If you are happy with the price then go for it. $1000 should not make or break the deal on a $48K plus vehicle.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, heron25. Below invoice before the deduction of any available cash incentives is an excellent deal on an '07 Tahoe (which btw I think is an amazing truck). Those high gas prices must really be sapping the demand for large SUVs.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, shfawaz. GMAC's current base lease rates and residual values for a 24 month lease of any 2007 Chevrolet Tahoe with 10,000 miles per year are 6.9% and 65%, respectively. The only lease cash that is available on leases of this truck right now is $500 on models that have the 1LT package. Having said this, there is a special $1,000 bonus cash incentive on older large SUV models that have been in dealer inventory since early January.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello cams3. I don't think that you are going to be able to negotiate a lower selling price on this truck than the one that you are being given through General Motors' supplier purchase program. GMAC's current base lease rate and residual value for a 39 month lease of an '07 Tahoe with 10,000 miles per year are 6.9% and 64%, respectively.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi audibuyer. That lease payment is really high. You were quoted a money factor of .00790 :surprise: ?! That doesn't sound right to me. That is equivalent to an interest rate of almost 19%. If you lease through GMAC, make sure that the dealer uses its base lease rate of 6.0%. The 6% rate is equivalent to a money factor of around .00250. The residual value that you were quoted is correct for 36 month lease of this truck with 15,000 miles per year.

    Make sure to stop by the following discussion to see how much other community members have paid for their Tahoes lately: "Chevy Tahoe: Prices Paid & Buying Experiences".

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jims52. You never mentioned the selling price of the Tahoe that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

    What you were told about General Motors customer cash allowance is correct. It is not available on vehicles that are leased through GMAC. It is difficult to predict exactly what manufacturers will do with their future lease programs, but I do not anticipate making any significant enhancement to the Tahoe's program.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the info that you're looking for, philly70. GMAC's current base lease rate and residual value for a 36 month lease of a 2007 Chevrolet Tahoe with 15,000 miles per year are 6.9% and 60%, respectively. The lease rate for an otherwise identical 39 month lease would be the same, but its residual value would be 1% lower. As you can see, GMAC 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.

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  • illinoismanillinoisman Member Posts: 1
    Any comments on this deal-Illinois buyer, tax 6.5%, quote for LT3, with entertainment system, for 48 months, at 12K, $623. Nothing down, only payment at inception is first payment and transfer of plates.
  • dcbeltrandcbeltran Member Posts: 6
    Okay Carman here is what I'll probably do depending what is a better deal once I get it. I will be getting a either a Tahoe or Escalade(I posted Escalede prices under that forum)through the PEP program. Here are the numbers on what the Tahoe would cost me depending on the milage of time of inception. Can you give me a rough estimate on 36mo lease with 15k miles a year. From what I understand I can get whatever incentives are out there as well for the PEP program vehicles.
    Thanks

    MSRP 50445.00
    PEP Mileage Price
    PEP1 1-3,000 $42116.00
    PEP2 3,001-6,000 $41043.50
    PEP3 6,001+ $39792.25
  • stanman4stanman4 Member Posts: 8
    Can someone help me figure out a lease? I am looking at a 2007 Chevy Tahoe MSRP $49,305 Invoice $44,116. Rebates of $2000 and a Marketing Support of $3000( I don't know if this will benefit me or not).

    I am looking at either a 36 or 48 month lease with 15K miles p/year.

    Zero down.

    Any help would greatly be appreciated
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi illinoisman. You never mentioned the selling price or MSRP of the Tahoe that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this what truck's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the car that you are interested in for you if you let me know what these numbers are.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dcbeltran. I am not really familiar with the PEP program. Do the selling prices that you were quoted for these trucks include the $2,000 customer cash that General Motors is currently providing on the 2007 Tahoe? If so, that cash will have to be backed out of their selling prices because it is not compatible with GMAC's special lease program.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi stanman4. I would he happy to estimate what your lease payment should be like on this truck for you. Your exact payment will depend upon what sort of selling price you are able to negotiate on this truck. For now I will assume that you will be able to get it for $500 over dealer invoice. GM is running a special bonus cash promotion on models that have been in dealer inventory for a while. It is possible that the Tahoe that you are interested in is eligible for an additional $2,000 in cash incentives, but since I don't know if the unit that you want qualifies for this promotion for now I will leave it out.

    According to my calculations, if you were to lease a 2007 Chevrolet Tahoe that has an MSRP of $49,305 and a selling price of $44,616 through GMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $631. The payment for an otherwise identical 48 month lease would be around $598.

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  • stanman4stanman4 Member Posts: 8
    Thanks CarMan. I really appreciate the info. When I get the dealer to come up with the lease payment do I tell them to calculate the lease using the Buy Rate lease Money Factor?

    Do you have any other tips to share?

    Thanks again..
  • delta737hdelta737h Member Posts: 626
    stanman4,

    If it's a GMAC SmartLease, then the lease rate will be an interest rate and not a money factor. Alway ask for the base rate which is sometimes called the buy rate. This is the rate with 0% reserves. Don't let them play the game of convereting the rate to a money factor because, although close, it's not spot on.

    Reserves work in much the same way that points do on a mortgage loan. You want the base rate (e.g., 3.9% + 0% reserves). If they insist on reserves, then I simply deduct the dollar amount of the reserve from the agreed upon value (i.e., sell price).

    GMAC computes two annuity factors; one that's applied to the adjusted capitalized cost and the other that's applied to the residual...

    Base Payment = CapFactor x Adj. Cap Cost - ResFactor x Residual.

    ResFactor x Residual really amounts to a credit of the unused portion of the car's value (as measured by the residual) applied against the adjusted cap.

    GMAC does something very peculiar that very few people realize and that is this...

    They use the lease rate to discount the residual one month nearer to the present. I'll call the result the adjusted residual...

    adjusted residual = Residual/(1 + r/12) where r = lease rate (e.g., 0.039). The ResFactor already accounts for this discount factor.

    This causes the payment to inflate somewhat because the adjusted residual < Residual. I'm not sure why they do it and neither was GMAC when I confronted them with this several years ago. My best guess is that they do it to account for the fact that they don't charge a disposition fee but, then again, not many other captives do either.

    If you like, I can confirm the dealer's calculations. I'll need the following info...

    Adj. Cap,

    Residual Value,

    Lease Rate,

    Term,

    Base Payment (without tax)

    Good luck!
  • stanman4stanman4 Member Posts: 8
    Thanks delta737h

    This is great info and nice to finally know how this all works.

    Thanks again,
  • 95aggie95aggie Member Posts: 1
    I have a few questions...

    Is it better to wait until a big holiday (Labor Day, 4th of July, etc...) to lease a car since that is when GM, etc... offers discounts (or do these discounts only apply to purchases)?

    I have a GM Supplier discount - is this also applicable to Lease Vehicles?

    What is the best way to approach a dealer/salesperson regarding a lease - do you negotiate the price up front as if you were to buy the car and then use that price as the value of the lease?
  • delta737hdelta737h Member Posts: 626
    95aggie,

    Is it better to wait until a big holiday? Sometimes. Check to see what incencentives are being offered now. In September, those same incentives may not be available. As a general rule, though, it's not a bad idea to wait for a holiday especially Xmas because the dealerships compete with Santa. Discounts and incentives apply to leases unless specifically stated otherwise.

    Yes, your GM Supplier discount applies to leases. Check out the following website for further information...

    https://www.gmsupplierdiscount.com/ip-gmsupplier/virtual/pages/html/sd_faq.html

    ALWAYS negotiate sales price just as though you were buying it. Check edmunds.com or kbb.com for MSRP/Invoice pricing information and incentives.

    It's best to prepare a one page lease proposal similar to the one described below. A proposal saves time, money, and aggravation. If my proposal is accepted, I tell the dealer to have the keys and papers ready for me to sign and away I go! Easy, huh?

    Know how to calculate lease payments. Your proposal MUST BE DEAD ACCURATE; otherwise, you risk not being taken seriously and that can cause problems. Incorrect payments create opportunities for the dealership. It sends the message that you don't know what you're doing. You want to make it easy for the dealer to transfer the numbers on the proposal directly onto the lease agreement. So, you need to make sure that every number in your proposal is spot on.

    _____________________________________________________________________________

    Consumer Retail Lease Pricing Information

    Base MSRP 2007Corvette 2dr Hatchback (6.0L 8cyl 6M)……………………………… 44,170.00

    Machine Silver with ebony interior…………………………………………………… 0.00

    3LT Coupe Preferred Equip Group……………………………………………….…… 4,945.00

    QX3 Chrome Aluminum Wheels……………………………………………………… 1,850.00

    Destination Charge……………………………………………………………………… 825.00

    MSRP……………………………………………………………………..……….…… 51,790.00

    Capitalized Costs

    Agreed Upon Value……………………………………………………………..……… 44,233.47

    Gross Capitalized Cost………………………………………………………………… 44,233.47

    Adjusted Capitalized Cost……………………………………………………………… 44,233.47

    Residual Data

    Residual Factor………………………………………………..………………………… 0.58

    Residual Value (Res. Factor × MSRP)…………………..………..…………………… 30,038.20

    Cost of Money/Term

    GMAC Int. Rate…………………………………………….…………………………… *7.50%

    Term (months)…………………………………………………………………………… 36

    Payment Calculation

    Monthly Lease Payment (0.0309130 x Adj. Cap - 0.0245484 x Residual)................ 630.00

    Initial Lease Charges

    Title, Registration, Plates……………………………………………………………….. 200.00
    1st Month&#146;s Payment…………………………………………………………………… 630.00
    Security Deposit……………………………………………………………………….. 650.00
    Acquisition Fee………………………………………………………………………… 595.00
    Sales Tax @6.25% x Agreed Upon Value…………………………………………….. 2,764.59

    Amount due at lease signing…………………………………………………….……. 4,839.59

    * GMAC Tier S (top tier) Rate

    _____________________________________________________________________

    Remember that the above is an example only. If GAP insurance is not included, I suggest you purchase it from your insurance agent. GAP costs approximately 0.1% of the MSRP annually or 0.1% x 51,790 = 51.79 in this example.

    The Residual reflects an annual mileage allowance of 12,000 miles in this example. GM leases do not have disposal fees.


    The Agreed Upon Value is the selling price. If you have access to a TI83/84 calculator or Microsoft's EXCEL, I'll be happy to give you instructions as to how to calculate the payment... it's very easy to do. Otherwise, if you're interested, you can email me and I'll be glad to help you create a lease proposal. The best way to NEGOTIATE with a dealer is DON'T. Once I FAX/email my proposal, I simply want a response of YES or NO. If it's NO, I simply FAX/email another dealer. I do my homework and so I know ahead of time that the terms of my proposal are "doable".

    A good rule of thumb for computing GM payments is to convert the GM rate to a money factor (e.g., 0.075/24 = 0.003125) and use the following formula...

    Base Payment = MF x (AC + RV) + (AC - RV)/Term (months)

    where

    MF = Money Factor

    AC = Adjusted Cap

    RV = Residual Value

    Using the above formula, I get $626.41 which is close to $630.00 but not close enough. This formula will get you very close but close is never close enough especially if you're creating a lease proposal. Very few fund providers use interest rates. GM and Ford Credit are the only two finance captives that I'm aware of that use interest rates. The rest use money factors.

    Observe that the sales tax is computed on the Agreed Upon Value as practiced by some states. Other states compute the sales tax on the payment streams (e.g., 0.065 x $630.00).

    I hope this helps.

    John
  • stanman4stanman4 Member Posts: 8
    Hello delta737h,

    I have recieved a few offers from dealers here in Houston and wanted your opinion on one.

    1) 2007 Tahoe LTZ MSRP $48,010.00
    My Price $40,991.00

    Is this a decent deal. It appears to be below invoice according to Edmonds price guide.

    Also, you have shown me ways to calculate a lease which has been very helpful. Is there a way to do a reverse thought process on this.

    Meaning: If I know that I want my lease payment to be around $550.00 p/month what MSRP or bottm line price should I be looking at or shooting for.

    I do not want to put any money down and use all rebates etc towards the pricing.

    36 or 48 month lease.

    15K miles p/year

    Can this be done?

    Thanks again for your help.

    stanman4
  • dcbeltrandcbeltran Member Posts: 6
    Hey Carman,

    None of these vehicles have been discounted through rebates on the prices that I've given. They are all being sold at these prices through GM's company car program and are sold like NEW vehicles. These vehicles would still be able to have whatever rebates or discounts are out there at the time. Very good deal for a company employee or retire and family members that would want to take a vehicle with some mileage.

    -D
  • delta737hdelta737h Member Posts: 626
    Greetings stanman4!

    Sounds like a fairly decent deal. To answer your other question regarding payment, recall the following equation...

    P = F (A + R) + (A - R)/T

    A little algebra (did you think this stuff was useless in HS?) allows us to solve for A...

    A = [PT - R(FT - R)]/(FT + 1)

    Simply plug in the known values for Payment (P), Term (months) (T), Residual Value (R), and Money Factor (F) to evaluate the Adj. Cap (A).

    Once you've solved for "A", you can use the following identitiy...

    V + C - D = A

    to obtain...

    V = A - C + D

    where...

    V = Agreed Upon Value (Sell Price)

    A = Adj. Cap.

    C = Amount(s) Capitalized (i.e., financed) which may include taxes

    D = Cap Reduction(s)

    Now you have found "V", the Agreed Upon Value or sell price.

    And that's what ya call "work'n backwards".

    I suggest that you pocket all cash rebates especially if your money factor is low. "C" will most likely be zero in your case unless you have trade equity. DO NOT put cash down as a car/truck is a depreciating asset and, if you have a total loss, it's not likely you'll recover your down payment (cap reduction).

    Hope this helps.

    John
  • stanman4stanman4 Member Posts: 8
    Thanks delta737h,

    This information you give in fantastic.

    On my deal above you stated that it is fairly decent deal. What would you do to make it a GREAT deal..

    I really need help in that area. (negotiating the price).

    Also, I heard today that GM will be offering bigger incentives over Labor Day. Do you know what the incentive may be and is it worth to wait if you lease.

    Thanks again,

    stanman4
  • delta737hdelta737h Member Posts: 626
    stanman4,

    Based on the information provided by edmunds, I would say invoice + $3,000 in cash rebates...

    http://www.edmunds.com/incentives/RebateController?styleid=100682945&popuppage=o- n

    Apparently, there is is $2,000 cash to customer rebate plus a $1,000 cash to dealer incentive. However, I'm not sure whether or not these rebates apply to your model. If not, I'd shoot for at least $1,500 under invoice.

    John
  • stanman4stanman4 Member Posts: 8
    Thanks again John,

    I will shoot for that.

    I will let you know how how it turns out.

    stanman4
  • jisraeljisrael Member Posts: 4
    Background: We leased, and paid 100% of the lease up front, on a 2006 Trailblazer in fall of 2005. It turned out to be a lemon and after fighting GM they replaced it in Jan 2006 with another 2006 Trailblazer. A few months ago we moved to another state and are getting ready to turn in the Trailblazer this fall.

    Today when my wife goes to get her new plates on the Trailblazer we find out that the Chevy dealer made a mistake and put the title of the replacement Trailblazer in our name, not GMAC, and has was marked as a purchase not lease. We have the title in our name and in our possession that should have gone to GMAC. GMAC has the Trailblazer listed as leased but they do not have any copies of the title. My wife called the dealer and the lady from the title dept told her that the replaced Trailblazer is listed as a purchase not a lease. The dealership asked my wife to mail the title to them they would fix it and get the new title to GMAC.

    After everything we went through with this dealer and the lemon I do not trust anyone that works at that place. I am not going to send it in yet. I am thinking about holding out to see what they do... after all I do have the title in my possession and in my name. Thoughts?

    Thanks
  • jisraeljisrael Member Posts: 4
    Sorry I put this under the wrong discussion. If you have any thoughts please answer.
  • conairconair Member Posts: 1
    I am pricing a 2008 Tahoe lease. The sticker is 52,320.00 the GMS is 45.497.00 so I&#146;m told. I do not know the residual. It&#146;s a 15,000-mile, 39-month lease with no money down, except license and inspection (NYS) fees.
    The dealer told meet it did not make a difference what dealer I purchased the vehicle at because GMS pricing even on a lease would always be the same. He quoted a price of 720.00 a month. I called him a day later and told him he was playing with the interest, he called back and said he could do 682.00 per month. Does this sound right to you? Are people paying this much for leases these days? Also he suggested this new lease damage protection plan for up to 5000 coverage, 1000 per item its 21.00 a moth rolled in. Do you think this is a fair deal? And should I get the protection plan. Thank You
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, stanman4. Yes, definitely make sure that the dealer you are working with uses GMAC's base lease rate of 6.9% to calculate your monthly payment.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi 95aggie. The attractive selling prices that are available on vehicles purchased using General Motors' supplier purchase program are available on leases.

    Generally speaking, the end of the month is the best time to purchase or lease a new vehicle. Dealers are usually the most anxious to finalize deals then to help boost their monthly numbers. Furthermore, manufacturers often sweeten their incentives at the end of the month.

    When leasing, it is important to negotiate your vehicle's selling price, just as if you were paying cash for or financing it. The only difference between negotiating the selling price of a Tahoe that you plan on leasing and one that you plan on purchasing is that the $2,000 customer cash that GM is providing on this truck is not compatible with its special lease program.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi conair. Let's work up a lease payment on the truck that you are interested in using GM's current lease program and see what we come up with. According to my calculations, if you were to lease a 2008 Chevrolet Tahoe that has an MSRP of $52,320 and a selling price of $45,497 through GMAC right now for 39 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $605.

    I definitely would pass on the additional damage protection coverage if I was going to lease. It is going to cost you $819 plus lost interest over the life of your lease. Unless you really mess your truck up, chances are that you won't have to pay more than this in excess wear and tear.

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  • rracklefrracklef Member Posts: 2
    I just want to get a heads up before I go to the dealership about how much I should be paying on a 12000 mile 36 month lease LT3 tahoe with a vehicle price of about 43,000. I want to put 0 down what should my payments be a month.
  • rracklefrracklef Member Posts: 2
    I just wanted to get a heads up before I go shopping on a lease for a 2007 tahoe LT3 with 12000 miles per year on a 36 month lease with 0 down. the total vehicle price was around 43000. thankyou
  • clozer01clozer01 Member Posts: 1
    I love this board.... I need help, I want to get an 07 Tahoe LTZ this weekend.. Sales price $50k, 36 month lease, 12k miles/ yr., $3500 down & $588/ mo after taxes. Is this a good deal? Also, would I have better payments with a longer lease? If so, can I still trade-in in 3 years with no extra fees?

    Thanks
  • rockman59rockman59 Member Posts: 250
    I want to get an 07 Tahoe LTZ this weekend.. Sales price $50k
    ___________________________________________________________
    That seems like a really high price considering the '08 models will soon be out.....I would go back to the dealer and have them sharpen up the pencil. I'll bet you can better that price by at least $5K. The lower the sales price the lower your lease payments will be. And if they won't make you a better deal just walk out the door. They need you, you don't need them.
  • isalexisalex Member Posts: 4
    Car-man:

    I live in Daly City, California. I wouldlike to lease a 2007 Chevy Suburban, 12k miles year, no money down, 36-39 month lease. I am a novice and need help. The dealer tried selling me a 39 month lease for $749, with TAX INCLUDED (8.25%).

    I am trying to lease a SUburban for less than $700/month. The news came out today (9/4/2007) about how crappy the car industry has been, and given the fact that the 2008 models are in, is this realistic?

    Thanks in advance!
  • jetsssjetsss Member Posts: 1
    Hi...Great forum...so much great information. Thanks in advance.

    Just trying to see how low I can go.

    I got this quote from a dealer in CT.

    2007 Chevy Tahoe
    LT3
    $42,895, Sticker
    $40,900. selling price
    $4000K down
    $541 per month incudes (sales tax, everything else)
    39 month lease
    $25,900 purchase at end of lease
    15k mile per year
    Sport Red ( cashmiere leather)
    Not sure of money factor
    Would love the payment to be around $480 per month....
    what do you think the sales price would have to be for that vehicle to get to $480?

    I'd hate to give up anything now...the truck is so beautiful.

    I can't stop thinking about this car..and it isn't even for me, its for my wife....lol
    Let me know if I missed anything....

    Thanks again for any and all information, this forum has be so helpful. Thanks for everyone who takes the time to respond.
    Kevin ( Jetsss)
  • patcombpatcomb Member Posts: 4
    Carman, can you please provide the assumptions for your numbers on the 2008 Tahoe Lease (residual, interest rate and incentives)? Also, how did you come up with such a low selling prices?

    I am talking with a few dealers in Philly area and they are not close.

    Thanks
  • rmonti12000rmonti12000 Member Posts: 2
    Hi. I leased a 2007 Tahoe LTZ in sept. of 2006. It's a 48 month lease w/ 15K mi per year. Ashamed as I should be, I don't remember the "price" of the vehicle. I believe I paid approx. 3000 out of pocket when it was all said and done. My payment is 613.00 / month.

    My "buyout" for the lease as of today is 42,900. At the end of my lease, Sept. 2010, the residual value will be 27,000.

    My question is: Did I get hosed? I would like to buy the new TL when it comes out in Fall of 2008, but I am afraid I will be completely upside down on my Tahoe.

    Did I get hosed at the dealer?
  • rockman59rockman59 Member Posts: 250
    My "buyout" for the lease as of today is 42,900. At the end of my lease, Sept. 2010, the residual value will be 27,000.
    ___________________________________________________________
    You are correct...you are and will continue to be "upside down" on your lease. Good deal or bad deal, you are underwater.
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