GMC Sierra Lease Questions

CarMan@Edmunds

To discuss the latest lease details for the current model, please join us in the 2015 GMC Sierra 1500 Lease Questions forum.

You can also research local dealer inventory and pricing, reviews, features, and specifications on Edmunds 2015 GMC Sierra 1500 page.

dad23

Just saw a commercial for what I thought was a 2006 Sierra SLT Ext Cab 4wd, $0 down, 39 month lease at $289/mo!?!?!?! Am I up too late of are they really offering this special?

ddown

Yesterday I got a 2006 Z71 4X4 with 0 down even put taxes and plates on it. Just paid 1st payment 259.00. This was GMS + Military and Total incentives were 5250.00 vehicle was 4100 off sticker GMS. 27 month lease includin g road hazzard for tires and wheels.

workerb

Hello... Looking for some help in calculating all discounts and an approximate lease price on an '06 Sierra Crew Cab 4wd. The MSRP we're looking at is $32853, with GMS it's $30531.19. We'll also have GM card earnings of about $2,900 to use and looking at 24 mos, 12k miles lease. I'm expecting in addition to the GMS discount and rebates to still get a Dealer discount of at least $2,000... realistic? Thanks for your help!

CarMan@Edmunds

Hi workerb. If you are getting GMS pricing on this truck, don't expect to get any sort of additional discount. This is as good as its price is going to get. Even though you won't get any additional dealer discount on this truck, General Motors is providing $1,500 lease cash on it that you never mentioned in your post that will help lower its price. Let's estimate what your lease payment will be on this truck. According to my calculations, if you were to lease a 2006 GMC Sierra Crew Cab 4WD with an MSRP of $32,853 and a capitalized cost of $26,131 ($30,531 .19 - $1,500 lease cash - $2,900 GM card earnings) through GMAC right now for 24 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $375.

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workerb

Hello... we are still pondering whether to lease or buy and noticed GM updated incentives but can't tell if lease rates improved. Can you provide lease rebates, residual rates and lease factors for 24 and 36 months on a Sierra Crew Cab, SLE2? Now looking at a MSRP $35700 of $purchase price of $32,500 and about $3,000 down. Thanks!!

CarMan@Edmunds

Hello workerb. Here's the latest on this truck's lease program. GMAC's current base lease rate and residual value for a 24 month lease of a 2006 GMC Sierra 1500 Crew Cab SLE2 4WD with 15,000 miles per year are 5.6% and 59%, respectively. The numbers for an otherwise identical 36 month lease of this truck should be 5.6% and 51%. The lease cash that is available on this truck ranges from $1,150 to $2,650, depending upon what region you are in. If you tell me where you live, I would be happy to provide you with the exact amount that is available in your area.

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peachtree103

Hello Car Man,

Am considering a lease of a GMC Sierra Extended Cab, regular bed, 4wD SLT Truck w/Z71 Package. MSRP is $36,310. Invoice price (assumed purchase price) is $33,689. There is a $4500 rebate on top of that, but I don't know if it's compatable with GMAC's lease program. Or, would it be advisable to lease with a non-captive finance company after taking the rebate? I also have $1600 in GM Card Points. Would like a 24-30 month lease, with 15K/year. Atlanta Area. Thoughts/Suggestions/Payment Target? Thanks in advance.

CarMan@Edmunds

Hi peachtree103. Unfortunately, the $4,500 customer cash that you mentioned in your post is not compatible with GMAC's special lease program for this truck. There is regional lease cash available on it in most areas though. Specifically, in your area (the Southeast region) GMAC is providing $1,150 lease cash on this truck. It is difficult to say whether you would be better off taking advantage of the full $4,500 cash incentive and leasing through an independent bank or using the lesser lease cash plus GMAC's special lease program. I suspect, but am not positive, that you would be better off going through GMAC. Let's estimate what your lease payment would be using GMAC's lease program and see what we come up with. According to my calculations, if you were to lease a 2006 GMC Sierra 1500 Extended Cab 4WD with an MSRP of $36,310 and a selling price of $32,539 ($33,689 selling price - $1,150 lease cash) through GMAC right now for 24 months with 15,000 miles per year your zero down, pre-tax monthly payment would be around $418. I believe that the 30 month payment would be much higher than this.

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iahawk

I am contemplating leasing a 2006 Sierra SLE2 Ext Cab 4wd.

The MSRP of the truck I have in mind is $34,665. Invoice price (assumed purchase price) is ~ $31,800.

I also have $2100 in GM Card Points and received a special offer from the GM Card folks for an additional $1500 incentive thru November 15th (http://www.gmcard.com/1500/).

I would like a 24-36 month lease, with 10K miles/year. I am in Cedar Rapids, Iowa.

Thoughts/Suggestions/Payment Target information would be appreciated. Also GMAC's current base lease rate and residual value would be nice to know. Thanks in advance.

iahawk

car_man,

I am contemplating leasing a 2006 Sierra SLE2 Ext Cab 4wd.

The MSRP of the truck I have in mind is $34,665. Invoice price (assumed purchase price) is ~ $31,800.

I also have $2100 in GM Card Points and received a special offer from the GM Card folks for an additional $1500 incentive thru November 15th (http://www.gmcard.com/1500/).

I would like a 24-36 month lease, with 10K miles/year. I am in Cedar Rapids, Iowa.

Thoughts/Suggestions/Payment Target information would be appreciated. Also GMAC's current base lease rate and residual value would be nice to know. Thanks in advance.

If GM is no longer offering leases on 2006 models, assume that I will lease a 2007 of similar traits.

kfranci2

ianhawk, did you get a lease on that truck yet? I am in the same exact position as you are (with GM card, etc) and would like to konw the same info from car_man regarding leases.

iahawk

I haven't done the deal yet but here is what I have learned from the dealer:

- Full GM Card earnings plus bonus cash can be used

- 24 month, 10k mile/year lease: 6.25%, 63% residual
- 24 month, 12k mile/year lease: 6.25%, 61% residual
- 36 month, 10k mile/year lease: 6.25%, 57% residual
- 36 month, 12k mile/year lease: 6.25%, 55% residual

In my area, there is a $2000 cap reduction on 2007 1/2 tons right now plus $1000 rebate. Those numbers differ depending on where you are located.

Hope this helps.

iahawk

Car_man,

In my previous post I mentioned that I was quoted a lease rate of 6.25% on a 2007 GMC Sierra Classic Extended Cab 4x4 SLT for a 24 month lease and 10k miles/year. In reading posts regarding other GM vehicles, I am starting to think that the base lease rate should be lower than the 6.25% I was quoted.

Can you confirm one way or another what the correct base lease rate is for this vehicle?

Hopefully you respond soon as I am getting close to pulling the trigger on the deal.

Thanks in advance.

CarMan@Edmunds

Hi iahawk. Unfortunately, General Motors is no longer providing lease support on 2006 GMC Sierra models. You can get a great deal on a leftover 2006 Sierra, price-wise but you will have to either pay cash for it or finance it if you want one. If you want to lease, go with a 2007 model.

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CarMan@Edmunds

Hey iahawk. Ahhh, I see that you would consider leasing a 2007 model. OK, let's take a look at its lease program. GMAC's current base lease rate and residual value for a 36 month lease of a 2007 GMC Sierra SLE Extended Cab 4WD with 10,000 miles per year are 5.6% and 57%, respectively. If Iowa is in General Motors' North Central region, which I believe it is, then the truck that you are interested in has $2,000 lease cash available on it. Make sure to take this cash, in addition to the GM Card cash, into account when negotiating this truck's selling price.

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chevyman14

hey are those rates and residuals for classics or the new sierras

CarMan@Edmunds

Hey chevyman14. Those are the numbers for the Classic model. I heard that GM is going to introduce a new lease program for the redesigned Silverado / Sierra on Wednesday. Rumor has it that this truck is going to start out with a lease rate in the 8.5% range, but I haven't seen its residual values yet. Please feel free to check back with me in a few days and I will be happy to tell you exactly what the new lease program it like for the exact truck that you want.

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chevyman14

I have been given some residuals for the new silverado/sierra as follows, please verify and or pass on, thanks

24 30 36 48
12k 73 68 64 57
15k 70 65 61 54

let me know if these look right, if so pass it on

i was also informed that lease rates on the new silverado/sierra start at 7%

thats really seems high to me, :confuse: because when i got my G6 in Dec 04, i got 3.5 through GMAC, with rebates, GMS, trade and neg equity on a 48 month lease with 15k per year. The highest GMAC rate then was on vibes at 5% and GTOs even had 3.5. I worked at the dealership when i got the car, and the average customer only recieved a 1%jump to help the manager make some money. but most negotiated the payment, where the manager had to drop the 1% jump to make the sale. I do live in FLint, MI, where everyone and there brother gets GMS and there really is no negotiating needed. So if anyone can give me the rate without a jump for the dealership sake, please pass it on.

bagger

Hello ....

I am taking delivery of a 2007 GMC 1500 Crew Cab 4x4. MSRP was nearly $42,000 (wow !) and I was able to receive a $1500 reduction in the selling price. Wow again, eh.

My question is, since I'm leasing this vehicle for 36 months, what would I be looking at with no money down? Any money factor rate, residual, yada, yada ... would be great.

One last question ... should I look at GMAC for the lease, or go elsewhere? I saw where someone had seen that GMAC had a 7% factor, which seems high to me.

Thanx in advance.

BAGGER

rockylee

bagger,

Did you shop around for the best price or is that a pretty common price customers are paying ????

The 7% seems a little hight but the way interest rates have been going up the last year or so on cars it might be about right.

Rocky

guest

Rocky ...
Well, the "all new" Sierra/Silverado is not getting much off the sticker. I had to nearly beg to get $1500 off the MSRP.

Anyway, I looked at the GMAC financing page today and see that 12K miles/year, 36 months smart lease for $40,320 is $690/month. I don't know what that is in terms of money factor, but seems on the high side. I'm picking the truck up in a couple days after the new year, but would like to know if there is a leasing company that gives a better 'deal'. BTW, the GMAC site lists 10.2% for a traditional buy and 9.5% for a smart buy. OUCH .. !

BAGGER

rockylee

Bagger,

OUCH....!!!! is right !!!!!

You need to find out your credit score and ask around. Don't let them run your credit since inquires lower your score but I'd definitely call around first thing monday and see if you could get a lower rate. If you can't then perhaps you should buy it. I honestly believe if you were willing to work you could at least knock off $3K on the MSRP. I'd almost be willing to be you could find a dealer somewhere that would sell you one at or near invoice but of course that might require some driving. I'm not sure what state you live in but I'm confident you can do much better than $1500 off MSRP. I get a GM employee discount so it doesn't matter so much to me since my price is set by GM. If I buy a 07' GMT-900 GMC Sierra Denali I might fly back to my home state of Michigan and drive it back since a friend of my family is a sales manager at a GM dealership.

Trust me Bagger, you can do better than $1500 off. I promise ya that.

Rocky

CarMan@Edmunds

I am not surprised that bagger was quoted such a high interest rate on a lease of the redesigned GMC Sierra right now. General Motors is not currently providing much in the way off lease support on its redesigned full-size pickups. GMAC's current base lease rate for the redesigned 2007 GMC Sierra Crew Cab is a whopping 8.5%, for consumers who have good credit. I suspect that the dealer that bagger is working with is running his lease through an independent bank. General Motors' lease program on its full-size pickups is never great, but if one wants to be the first on their block to have the redesigned version they are really going to have to pay.

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rs1807

Here's the lease amounts I was quoted last week on the new style Sierra Crew Cab 4x4. Taxes (6.5%) are included in lease prices. These seem high. What should they be?

Sticker: $35,285
Price Quoted: $32,915

36 month lease/15k a year with 1st, security and license fees down. $590.58

30 month lease/15k a year with 1st, security and license fees down. $616.40

Also, I was told by another dealer that leases were at 9.2% on the new style and 6.3% on the older style 'classic' 2007 trucks. It seems that any deals are only on the 'Classic' trucks and not the new style.

bagger

My 2007 Sierra crew cab 4wd listed at $42,330 and they reluctanly gave me $1500 off. With $1000 down, my lease was $740/mo for 36 months 12k. No body here in CT would deal on the new style truck.

A 2007 Ford Super crew Lariat came in at $42,300, also. I got over $4500 off and the lease was $550/mo for 36 mo 12k.

I have a Ford in my driveway.

Bagger

rs1807

I'm right with you Bagger.

I love the GMC but the Ford is also very nice and for the price difference - I may have a Ford in my Driveway very soon too as they have given me much better pricing.

The new GMC/Chevy is a little nicer but not that much nicer.

CarMan@Edmunds

Hi rs1807. At the end of January, General Motors introduced a new incentive that provides consumers who trade in a 1999 or newer vehicle on a redesigned GMC Sierra with $1,000 bonus cash. If you are trading in your current vehicle, make sure to take this offer into account.

GMAC's lease program for the Sierra is bad, but not quite as bad as you were lead to believe. Its base lease rate for the redesigned 2007 Sierra 1500 Crew Cab is currently 8.5%. It is 5.6% for the GMC Sierra Classic 1500 Crew Cab. Using the prices that you mentioned in your post, an MSRP of $35,285 and a selling price of $32,915 and GMAC's current lease program, I estimate that the 36 month, 15,000 mile per year, zero down, pre-tax monthly payment for the truck that you are interested in should be around $510. The payment for an otherwise identical 30 month lease should be around $531.

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rs1807

Thanks Car_man.

How is the Ford dealer is getting a lease of $196/mo for 24 months with $3,470 down and 10,5K miles/yr on a truck with $35,560 sticker? They told me it was an additional $56/mo to get their lease to 15k miles/yr. It's still quite a difference in price over the GMC that I want - with nearly the same sticker price. I realize the Ford lease was quoted shorter - which really make me wonder.

To compare the two leases, if I put $3,470 down on the GMC what will the payments be? I'm trying to find out how much the GMC needs in incentives to be similar in price to the Ford.

rockylee

Wouldn't it be cheaper to do traditional finacing ?

Rocky

rs1807

Maybe. I'm not sure if there is a tax advantage either way. (Truck is for the business.)

GM has 0% for 36 months (purchase) on the new style this week. The 'Classics' have 0% for 60 months.

CarMan@Edmunds

Hi rs1807. You really shouldn't make any sort of down payment when leasing. I always advise consumers against doing so because if your leased vehicle is totaled in an accident or stolen and not recovered during your lease term there is a good chance that you will lose any down payment that you made.

Ford's incentives on the F-Series pickup are more aggressive right now than GM's incentives on the redesigned GMC Sierra are, so I am not surprised that it is less expensive to lease a Ford than a Sierra right now.

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dpj

Car_Man,

Looking at a 2007 Sierra Denali, MSRP $48,670, Expecting to pay around invoice at $44,052 less $2,250 in incentives. 36 Mo, 15K mi, no idea of lease rates or residual. Any ideas of rate, residual and payment?

CarMan@Edmunds

Greetings dpj. GMAC's current base lease rate and residual value for a 36 month lease of a 2007 GMC Sierra 1500 Crew Cab with 15,000 miles per year are 8.15% and 61%, respectively. Using these numbers, an MSRP of $48,670, and a selling price of $41,802, I estimate that your zero down, pre-tax monthly payment would be around $580.

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multiplechoice

Hi Car_man, I am looking at the GMC Sierra 1500 2WD SLE trim. Crewcab short bed. What is the current lease program. 24 and 36 months, 15K per year? I'm in southern california. Thanks for the info.

CarMan@Edmunds

Hey multiplechoice. Here's the info that you're looking for. GMAC's current base lease rate and residual value for a 24 month lease of a 2007 GMC Sierra 1500 Crew Cab SLE 2WD with 15,000 miles per year are 7.75% and 70%, respectively. the numbers for an otherwise identical 36 month lease are 7.75% and 61%.

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gatersaw

Car_man,
I greatly appreciate your info.
I'm looking at purchasing or leasing a new 07 Sierra. It seems we'll be seeing big discounts on cars again soon ie. 10k off sticker prices on Ford and GM pickups and more than 10k off full sized SUV's. Is it possible to negotiate 10k off sticker on a Sierra and then negotiate a lease? The lease would be very small because the depreciation would be negotiated out of the deal.
Do you have experience with this?

The recent rate cut by the US FED will boost retail sales in the near term but the end of this year will see economic consolidation and car manuafacturers will feel the pinch again.

caddyman9160

Hello car_man,
I am getting 2 different opinions regarding the impending purchase of a new 2007 sierra 1500 crewcab. I want to take advantage of the 0% , 60 months financing. Using the pull ahead option for my 04 escalade w/ 68K miles, one dealer said i am entitled to sales tax savings using a book value for my 04 escalade , the other dealer said I am not entitled to any sales tax credit when i pull ahead, only when i trade in. Neither dealer want my vehicle as a trade in. I am currently in a smart buy, 3 months left, 16K miles over. I live in Central NY, unable to get ANY advice from GM, or GMAC. Can you advise or point me in the right direction?

Thank You,
Craig caddyman9160

ltrejo

Hello,

I'm looking for the current lease programs for an 08 Sierra Crew Cab, SLE, 36 months, 15k miles.

Thanks!

CarMan@Edmunds

Here you go, ltrejo. GMAC's current base lease rate and residual value for a 36 month lease of any 2008 GMC Sierra Crew Cab with 15,000 miles per year are 7.75% and 61%, respectively. When negotiating your lease on this truck, make sure to take advantage of the $1,000 lease cash that is available on it.

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babacuz

hello,

I am at a crossroads with my 2003 2500 HD Duramax 4x4 Sierra truck.

I am at the end of my lease in three months and I am debating whether or not to purchase the vehicle at the end of the lease term.
Wells Fargo said that they will sell it to me for $17,204.95 plus tax they say I am pre approved, no money down and no pre-pay penalties, it is at a rate of %11.36 .

I am leery of buying it if the offer is not good, because the truck has ongoing injector issues (fixed under warantee twice but can be very expensive), but I also have a limit on my lease to my mileage of 75,000 total and I have gone seriously over (total miles 137,000 and change) and I know I cannot just get out of the lease without getting fleeced at 17 cents per mile.

So my question is should I purchase with the rate offered and will the miles matter? Or should I take the next three months and find someone to buy it for a good deal and get out scott free?
And will most dealers rip me off on a trade- siince I was told I have positive equity since the truck is worth about 21,000 on Kelly blue book.

Thanks for your help!!

CarMan@Edmunds

Greetings babacuz. I personally would never purchase a truck that has been having problems at the end of a lease. One of the great things about leasing is that one can walk away from a problem vehicle without having to pay a dime. Having said this, you are in a pickle with your excess mileage. It would be almost unbearable to have pay a $0.17 per mile penalty on 62,000 excess miles :surprise:. So you may be stuck buying your truck.

Perhaps your best option is to purchase your vehicle at lease-end and trade it in or sell it privately. If you can find someone who is willing to pay more than $17,000 for a 2003 Sierra that has over 130,000 miles on it you could get out of your truck essentially for free, which would be ideal. You may have trouble finding any takers at that price, but your loss would almost certainly be less than what your excess mileage penalty will be.

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thothtp

I was wondering if anyone could tell me the current lease rates on a Sierra 1500 4x4 with the 5.3L V8. this would be 12k miles, in the upstate NY area. As far as options, if it changes anything I am looking for a typically equipped regular or extended cab, not crew.

Thanks for the help,
-Tyler

CarMan@Edmunds

Welcome Tyler. Here's the information that you're looking for. GMAC's current base lease rate and residual value for a 36 month lease of any 2008 GMC Sierra 1500 Crew Cab with 12,000 miles per year would be 7.75% and 64%, respectively. The numbers for an otherwise identical lease of a 2008 Sierra 1500 Extended Cab are 4.75% and 60%. The numbers for an otherwise identical lease of a 2008 Sierra 1500 Regular Cab are 8.2% and 49%. When negotiating your lease on this truck, make sure to take the $1,000 bonus cash that is currently available on it into account.

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glevitt

Hello all,

Anyone know what the current GMAC lease details are on Sierra 1500 crew cab and extended cab. I have heard 61% for 3yr/36mi but can't button down a money factor or interest rate. I am in Colorado.

Thank you very much for the help!

Greg in Denver

CarMan@Edmunds

Hello Greg. GMAC's current base lease rate and residual value for a 36 month lease of a 2008 GMC Sierra 1500 Crew Cab 4WD with 12,000 miles per year are 7.75% and 64%, respectively. The numbers for an otherwise identical lease of an '08 GMC Sierra Extended Cab 4WD are 4.75% and 60%.

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speedracerr

Hey Carman,

Was just offered the following deal for a 2008 GMC Sierra 1500 Ext. Cab w/ SLE2 with tow package. I think the dealer's padding the invoice price by a few hundred also. Does this seem like the best deal i can get? I reside in NV. The figures are based on 48 mos/ 12k mile

MSRP: $33,565
Invoice: $31059
Residual Amt/ Pct: .51%
Money Factor: 5.75%
Gross Cap Cost: $28,559
Net Cap Cost: $28,461.50

I'm hoping to get the payments below $370. Is this possible? Thanks a lot for your help!!!

CarMan@Edmunds

Hi speedracerr. The market for large pickups like the Sierra is absolutely dead right now. If you are in an area that has a decent level of competition, you should be able to easily get this truck for the invoice price that is listed right here at Edmunds.com, New Vehicle Pricing, minus any available cash incentives.

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thothtp

Car_man,

I was wondering if you had the updated lease rates for Sierra 1500's for July? I am interested in an extended cab Sierra 1500 4x4 with SLE1 and 5.3l, 12,000 miles, likely 36 months but that is flexible based on whatever is the best rate.

Also, does the $5000 rebate apply to leases? If not, what if any rebates do apply? I am planning to pull the trigger this month and want to know all the info before I go in.

Thanks so much,
-Tyler

CarMan@Edmunds

Hi Tyler . Here's the information that you're looking for. GMAC's current base lease rate and residual value for a 36 month lease of a 2008 GMC Sierra Extended Cab 4WD with 12,000 miles per year are 4.75% and 60%. GM is currently providing $2,000 bonus cash on this truck that can be used in conjunction with this lease program.

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Karen_S

A reporter would like to talk with someone who bought a new GMC truck in the past six months. Please respond to jfallon@edmunds.com today, Thursday, April 16, 2009 with your daytime contact information.