2013 and earlier GMC Acadia Lease Questions
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Term: 36 months, 15K mi/yr
Price: $40,844($500 over invoice)
Residual: $23,201
GMAC Rate: 8.05%
Drive-off Due: $1,454
Monthly Lease Payment: 785(including insurance)
Is this a good deal? Pls advise. Thank You
I am looking at an 07 MDX (Base Model) on a 42 month lease w 12k miles per year and $1995 CapCostReduction. The price is $449/month. Security payment, destination fee, tax all due at signing.
Is this a good deal?
What could I expect to get off on this deal?"
anything I should know about extra fees?
Thx, Dave
The MDX sounds like good deal and a lot more of a quality vehicle.
On what basis are you making such a statement? The MSRP on an MDX is roughly $7k higher (including rebates) and actual transaction costs probably widen that margin. I've seen posts here claiming Acadia purchases at $300 over invoice--find me an Acura dealer who will match that price on an MDX ANYWHERE IN THE US and I'll buy it today.
As to "quality", again you're assuming facts not in evidence. Both vehicles are new models. As such, they have no history of quality. Although they may share some parts with old models and their respective manufacturers have differing quality history, that doesn't necessarily translate to the durability of either of these new vehicles. You probably know that the old Acura MDX's recall history isn't spotless--bad transmissions plagued several model years.
I happen to be a big fan of the MDX and most recenlty owned a 2005 model. But that doesn't mean I'll blindly assume that the new MDX is of higher quality than the new Acadia--especially relative to purchase price.
That said: the lease deal quoted is insane. One could easily buy the car for less than that.
Honda Finance offers some lease rates that are probably one of the best in the industry. Good residual values, extremely low money factors which means excellent lease rates. Paying the rates offered above is like having the dealer telling the costumer "This is a stick up".
Some dealers are just down right scoundrels. Pick and choose a good reputable dealer. The ones that charges for ridiculous extras I avoid.
Can you tell me what the current money factor and residual % is on a 36 month lease at 12,000 mi/yr for an Acadia? I was quoted a lease and I want to see if the numbers are correct. Here is what I got:
MSRP: $34,449.00
GM Employee Price: $31,361.33
Money at Signing: $753.41
Payment According to Dealer: $502.26/mo
Does that sound about right?
According to my GMC dealer here their numbers on the Acadia are:
57% residual on a 36 month lease at 12,000 miles per year.
The interest percent is 8.05% (Money Factor~.00335).
The Outlook may be different as Saturn's lease offer this month for a 36 month lease on a FWD Outlook XR states "MSRP of $30,290.00, a capitalized cost of $29,307.00 and a residual value of $18,477.00".
$18,447/$30,290 ~ %60.9 which they will say is 61%.
I don't know the lease rate/money factor on the Outlook.
Your deale ris about 1 month behind.
Still not where I would like to see it as the MF could be better.
SmartLease Agreement
36 Month Lease (12,000 mile)
Capitalized Cost 39,206.86 (MSRP 42,500)
Adjusted Cap. - lease loyalty/Pres. Day $ = 37,206.86
Residual Value 26,992.35
Rent Charge 7288.70
Monthly Payment 515.37 (including tax)
GMS Pricing (President Day cash)
Is this OK, did I get screwed?
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In Central/Northern NJ dealers are quoting the following:
Rates
-36 month, 15k miles/yr....60% residual and 7.2% rate
-48 month, 15k miles/yr....52% residual and 7.2% rate
Fees:
-Bank Acquisition: $695
-Tags and Title: $400
-Documentation: $299
-Tire (NJ specific): 1.50 /tire X 5 tires = $7.50
-Gap Insurance: assuming is tucked away in one of the fees above, since wasn't quoted directly...will need to confirm
Taxes:
-7%: NJ charges as percent of all monthly pymnts upfront at closing
Would be interesting to know what others have been quoted or have paid....
-is required per GMAC
-no interest is paid on balance...represents $183 of lost interest income at 7.2% over 48 month lease
-can get rid of it in one of two ways:
1. increase base lease rate by 0.5% (7.7% instead of 7.2%) or
2. buy lease insurance from them (covers $1,500 of stuff like excessive wear and tear when returned)
Anyone else have similar experience?
The MSRP comes to $44,965.00. The supplier Price right under it is $42,047.03. When you click on the Window Sticker, a lower supplier price $40,092.90 shows up. At what price can I get the car?
One dealer tells me that I have to pay the 42K number because it includes advertising fees, etc for the dealership. Is this true?
Is this a good deal? What is the residual and money factor appled here? Unfortunately, the manager was not giving all the numbers during my visit. Can anyone back out these important numbers?
Thanks.
Have the lease rates changed with GMAC?? I was discussing a deal on an Acadia with a dealer yesterday and he was quoting me 8.2%. Do I need to just let him know that I'm aware the current rate is 7.2% and call him on that?? Not sure the best way to handle that.
Thanks!
Am I right or should I start shopping for a cheaper truck?
How does it work when you deal with an "internet fleet manager"??
I just spent 5 minutes on GM Buypower.com and looked at inventory at 5 GM dealers in Memphis. If I put in a couple of other zip codes, I could check the dealerships between Nashville, Little Rock, Jackson Mississippi and even St Louis...plus smaller dealerships in the area. Contact info is available there and if I found one I wanted, I could give them a call and start trying to work up a deal.
It sounds as if you really don't have a 'relationship' with a dealership or this website...whatever you feel confortable with. I have tried working with dealers in the past on locating one that was not in stock in Memphis, but never really had any luck or felt comfortable with the process.
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The selling price that you were quoted on the Acadia that you are interested in looks very attractive to me. Just make sure that the dealer that you are working with uses GMAC's base lease rate of 7.2% (for this model) to calculate your truck's monthly payment and you're in business.
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PREFERRED PACKAGE,AM/FM STEREO W/6 CD & MP3 (REPLACES STD/OPT RADIO) BOSE SPEAKERS WITH SUB-WOOFER TRI-ZONE CLIMATE CONTROL, XM SATELLITE RADIO 8 PASS SEATING. I want to lease for 36 months at 12,000 miles per year with $3000 out of pocket. I qualify for the $1,000 conquest cash rebate. Please respond ASAP i will be visting the dealer tomorrow to get thier numbers.I want to be prepared. Please help!!! :confuse:
Initial email requests for information to several dealerships *all* went silent after I specifically indicated that I was interested in a lease. They didn't even try to flip me to a different program. Amazing.
A phone call inquiry to a salesman at one dealer in particular resulted in the statement, "GMAC doesn't do leases in Texas any more." Thank you, I'll be shopping elsewhere.
A phone call to a salesman at a leasing company (non-dealer) resulted in absolutely ridiculous fees and high monthly prices with the explanation being I was "building equity" in my vehicle so I could flip out of it early if I wanted to - or even get money back at the end. Plus the residuals the leasing company was offering were > 10% lower than GMAC's.
I eventually ended up at a dealership where the salesman *only* negotiated vehicle price - and even that wasn't a negotiation. He just offered it at invoice. I agreed and it was off to financing. That's where things got sticky again. After doing some research on the GMAC SmartBuy versus the SmartLease program I had a hard time seeing any appreciable difference between the two. I'm not using the vehicle for work so I don't need to write it off on my taxes. So mentally I was prepared to accept the SmartBuy pitch. But I had the finance guy walk through a comparison of lease vs. smartbuy and he was willing to do it.
He obviously pitched SmartBuy as the best choice and told me all the negatives about leasing. We eventually reached an agreement on financing and price and I'm now the happy owner of an Acadia but there's one thing that still bothers me...
On GMAC's "payment estimator" they list two SmartBuy programs w/ apr's of 8.2 and 9.12 respectively. When I sat down with finance he told me the SmartBuy rate would be 9.2. I pulled out the printout I had and asked why it was different. He basically said, "I don't know what that is... I have these papers here that tell me what to charge... the lease rate is 8.2 and I have to add 1 pt. to that for smartbuy."
He eventually lowered the apr from 9.2, but I called the GMAC # to ask what the deal was and they told me, "Those numbers are estimates only. Only the dealer can tell you what the actual rate should be." So why on earth put them on the website? Seems a little disingenuous.