Buick Enclave Lease Questions
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Does anyoen have any idea of what I coudl expect for the Residual or the money factor?
Car_man
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Bob
I've found that leases are often poor deals unless the manufacturer has a special. Any specials on the Enclave?
Thanks.
What is GMS pricing?
Benefits of the program are usually getting pretty low if not rock bottom pricing without having to deal real hard. Sometimes you also don't have to pay a DOC fee to the dealer.
Hmmm, Human Resource dept eh?. Ooops, I'm a self emolyed Contractor.
I'm all the resource I've got in that dept.
Still looking for anyone that has hooked up their Acadia, Enclave, Outlook to a boat that is 4k lbs. And how did it do..
The supplier pricing has a different designation (which escapes me at the moment).
I know.. counter-intuitive, but there you have it..
regards,
kyfdx
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What are your thoughts on this quote I received from a dealer...
2008 Buick Enclave, CXL, AWD, Power Sunroof with 2nd row skylight, Driver Conf Pkg, Luxury Pkg, 19" chrome wheels, entertain pkg #4, trailering pkg, wheel content credit, cargo net, cargo shade, $735 destination charge, cocoa metallic exterior, cashmere interior.
Info from dealer quote:
MSRP = $45,465.00
Vehicle Cost = 42,404.63
Profit = $1,352.14
Sell price = $43,756.77
Lease Aquisition fee = $595.00
Cap Cost = $44,351.77
Fees = $177.50
Money due at inception = $1079.00 (1st pmt $901.50+177.50)
Payment Info = $827.06 base + 74.44 tax = $901.50
Retention Rate = 7.70000
Reserve Rate = 0.00000
Disclosed Rate = 7.70000
Odometer = 800 miles
Term = 24 months
Mileage = 15,000 per year
Residual = 67%
Residual = $30,381.55
Some of my thoughts:
- My calculation of invoice price(using Edmunds) = $41668. So I am not sure where he is getting his 42,404.63 cost figure. Seems to be high by $736. At first I thought that was Dest.Chg., but then I verified that was already included in by Invoice Price calc. Are there advertsing fees maybe?
- I had another (more detailed) quote from a dealer and it showed $450 for LAM Dealer Contribution and $225 LAM Group Contribution. Are they advertsing fees?
- Even if his cost figure was right, $1352 over invoice seems high to me, even for a new vehicle. Am I right or am I expectign too much, at this time?
- $1,000 Conquest Cash should apply to me, so his $1352 actually becomes $2352 profit, right?
- does the rate and monthly pmt seem right to you? Is he saying that the rate is 7.7%
- 800 miles seems like it has been used as dealer demo. Should I expect a better price for a "new" vehicle that already has 800 miles on it?
Overall, I do want to get an Enclave, and I do want to get one in the next 2 weeks- to be able to take advantage of the $1,000 Conquest - since it is basically free money.
I am willing for the dealer to earn a reasonable profit - maybe $500 over invoice or so, plus his holdback and stuff. But I get the feeling of beeing taken to the cleaners on this offer. What do you think?
Thanks for your time, and your thoughts.
When I was shopping at the end of last month, at least 3 local (MD) dealers were willing to sell me a nearly identical Enclave as yours at invoice price. The 7.7% sounds a little high (if your credit score is below 700 they may be raising the rate above 7.2% I was quote).
Also, the dealers I dealt with were quoting a 36 month residual of 63%, so the 67% sounds a bit low. Using the Edmunds Lease calculator (http://www.edmunds.com/apps/calc/CalculatorController?pmtcalAction=lease_calc) I came up to a payment of $727.17 before taxes. The deal you have been shown seems high. For the equipment you specified, I came to an invoice of $41679. Given that it already as 800 miles on it, I would start at a price below invoice. Even at invoice, you should get a price of about $40679 (invoice less the conquest rebate).
They seem to be gauging you in several ways, first the price, then the lease payment. Negotiate the price first,and then get a lease quote from a leasing company.
Now that you can go on GMBuyPower.com to see what OTHER dealers have the exact car you want. I would recommend shopping around until you find the car you want. I recall seeing several in the Cocoa/Cashmere combination, so if you are near a metro area, you sould be able to find one quickly. With the end of the month approaching, I would shop around as there will be several willing to make deals.
I did all of my shopping via the phone and Email. I found the internet managers at most dealers were more willing to negotiate as well.
Thanks for the thoughts. My credit score is 790 - should I should qualify the best rate, I beleive.
I am located near Pittsburgh, PA. I have looked at inventory on buick.com previously, and the GMBuyPower site that you recommended. There seem to be a few that are close, but the problem seems to be the Trailering Pkg. This seems to be the only dealer that has one with the Trailering Pkg - which I do want.
Like you suggested, I will first focus on the sell price. I would be willing to go up to $500 over invoice, plus the Conquest Rebate, which would then get me to $500 under invoice. I would be happy with that deal. But, of course, I am not willing to do $2300 over invoice, which is what he seems to be offering.
If he can agree to that, then I can turn to negotiating the lease payment. Car_man previously stated about 2 weeks ago that 24-month lease residual would be 67%, and rate of 7.2%.
Can you explain how I turn the rate into calculating the lease pmt amount?
Thanks.
Nevermind this question. The Lease Payment Calculator shows the info.
www.gmfamilyfirst.com looks to be the GM employee site. Interesting that a GM employee can get up to 6 authorizations per year in 2007. Looks as if they can give an authorization to a friend to allow the Supplier Pricing.
What is the GM Supplier Discount for Friends?
Individuals who receive GM Supplier Discount for Friends pricing authorization numbers can enjoy the same preferred pricing that GM suppliers enjoy.
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Who is eligible to share the GM Supplier Discount for Friends pricing?
GM active and retired employees.
I did hear a month or so ago that one of the $1000 incentives was NOT allowed under the Supplier Discount on maybe the Acadia so some folks were getting near supplier pricing plus the discount for a better deal.
We purchased under the Supplier Discount program in 2004 but I think the program has changed a little since then. But it is really a good way (if you are eligible) to get to rock bottom pricing without having to really wheel and deal to get there. In 2004 on benefit was that they could not charge a DOC fee so since that was preprinted on the form they lowered the price that amount so it would offset that.
I have been looking at the Enclave for over a month. My wife and I decided to lease one when our present lease on a 2005 Terraza expires in January 2008. We wanted the Enclave in Red Tint, with only 2 options...no one had it (looking at over 25 dealers in the NY Metro area). Finally, we decided to order one. As it was explained to us, Buick MAY (and MAY is a gamble) have some sort of "rebates" available when our car comes in (in about 8 to 10 weeks). My point is, that we will have the car we want, with the options and color we want. True, we may be paying slightly more than we had wanted to, but considering that we will be leasing it for 39 months, it may (there's that word again) not really be any more.
Good luck in your search.
The Sales Mgr is holding firm at $1300 over invoice price for the Enclave that I was looking at. Since it is a demo model, with 800 miles already on it, and too much over invoice, I walked away. Too bad, it would have been a great vehicle.
Another dealer located one for me, same options except it has entertainment pkg #3 instead of #4. If he will sell for anything up to $500 over invoice, I will take the deal.
I hope to get one on the next week, to take advantage of Conquest Cash.
- $450 for LAM Dealer Contribution
- $450 for LAM Group Contribution
Are these Advertising Fees? Should I expect to include this amount in any calculations for dealer invoice price?
Thanks in advance.
Now I have to turn my attention to the lease figures. They originally quoted me 7.7% for the lease rate. I have a 790 credit score - so I should be able to get the best rate available. Car_man reported a few weeks ago that GMAC was offering 7.2% on a 24-month lease.
My questions are:
1) is 7.2% pretty much the best rate I should expect?
2) should I insist they use GMAC, or does anyone recommend any others?
3) what is a reasonable lease aqusition fee to pay? They had quoted $495, but it has been a long time since I leased, so I am not sure what is a good or bad deal.
As always, thanks in advance.
MSRP = $45,465.00
Vehicle Cost = 42,604.63
Sell price = $42,604 (Invoice plus $200)
Lease Aquisition fee = $495.00
Fees = $177.50
Sales Tax (assuming 7% in Pittsburgh)
Customer Cash Rebate: $1000 (Conquest Rebate)
Cash Down Payment: $0
My Trade-In Value: $0
Lease Term (months): 24
Lease Residual Value: $30381
Money Factor: .003 or 7.2%
Miles Driven per Year: 15000
Acquisition Fee: $495
Security Deposit: $0
Total Amount to be Financed: $42,521
Monthly Payment (tax included): $775.25
Your up front $ should only be the first month's payment and the $177 fees. With your credit scores close to 800, they should give you the best lease rate GM offers. Also, shop around with banks or credit unions you do business with, and ask for their lease rates before you go back to this dealer. FYI, when I was negotiating, they told me that I did not need to place a security deposit, since my credit scores were above 700. Also, with at 750 credit score, I was quote 7.2% lease rate. This statement came from 4 different Buick dealers. I would also advise that since it is the day before month end, you call and inform them you will take delivery tomorrow, ONLY if they meet your price. If they try to hit you up for any more $ then quoted above, then walk. GM will have more deals in the coming summer months.
I have seen GMAC Lase Rates of 7.2% for 24-month lease, assuming excellent credit score.
Would that same rate apply for a 39-month lease?
I just got my Enclave. CXL, AWD, Cocoa Metallic, Luxury Package, Drivers Convenience Package, Entertainment Package #4, Trailering Package, and Dual Moonroof.
It was a dealer demo, with about 800 miles on it. I agreed to $200 over invoice, minus $1000 Conquest Cash Rebate, equals $800 under dealer invoice. I got a SmartLease from GMAC, 39-month lease, with 59% residual.
It was a dealer demo, with 800 miles on it. I wished I could have got one with zero miles on it, but there were absoletely no Enclaves in inventory in the Greater Pittsburgh, PA area, that had the Trailering package. I found a few similarly configured ones withotu the Trailering package, but I wanted the hitch. I could have ordered, but the Conquest rebate was ending, so I took the deal. Dealer was nice (Budd Baer, Washington, PA). They originally offered $1300 over invoice, and 7.7% lease rate. When then came down to $200 over invoice and 7.2% lease rate, I agreed.
They had no explanation for it. They could not show him why his numbers were different from theirs. We are wondering if they have hidden fees? Has anyone come across this?
Thanks!
I payed cash for a Cocoa Metallic, Cashmere leather, Luxury Package, Chrome wheels. Sunroof, Ent. pkg #1, and Driver Confidence pkg. The only bad thing is that I have to wait 8 weeks for the car.
If you mean that their "dealer invoice" numbers are higher, that could be the advertising fees. There was about $650 of advertising fees on the actual dealer invoice for my new Enclave, which did not appear as a line item when I looked p proces on edmunds.com.
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I think a 9% lease rate sucks for a GM car. For that same payment I can lease a 5 series BMW with a navigation system.
What's going on here?
Problem is not too many Buick dealers in my area. Sent e-mails to others with my requirements. Since this was such a bad experience, don't want to waste my time at the dealership.
Can't believe GMC doesn't offer better incentives on Enclave. No wonder they struggle
Thanks.
There seems to be a lot of confusion on lease terms for the Enclave. Can you post the Residual Value and Money Factor for the following lease terms?
36 month lease/12,000 mi yr, 36 mos lease/15,000 mi yr
39 month lease/12,000 mi yr, 39 mos lease/15,000 mi yr
I know GM has a 39 mo term that's pretty close to 36 mo and since the Enclave has a longer warranty, it might make the monthly payment in IL much more attractive since you can spread the IL taxes put into the lease over an add'l 3 mos!
Unless GM is pricing (lease conditions) the Enclave more competitively, it is hard for me to see too many concious (=aware) buyers taking an Enclave over a R class or Q7.
vtraudt
Has anybody compared the lease offers for the Enclave with the GMC Arcadia?
Just curious. Same car.
They have no intention of keeping the 3rd shift unless demand remains strong -- they do not want to overbuild and have Enclaves sitting on lots. Right now, this vehicle has the shortest time of any in inventory across the country -- less than 5 days on average. In many cases, they're sold before the wheels ever hit the ground and I have heard of many instances where several folks bid against one another and have paid upwards of $3K over MSRP.
Car_Man, can you please answer my request up above for current August Lease Terms for the Enclave. Dealers are being non-committal about the MF -- I'd really like to know what it is -- instead of taking the dealer's word.
Thanks
Car_man
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