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Comments
I'm sorry to say but you are half wrong on that statement.
If a dealership is approaching the end of the month and has not made their sales quota, they will be more willing to deal on their inventory.
Now if the dealership has been hot then they will not have much incentive to deal on their vehicles. In this case, you are right. It will not depend on what day of the month it is to buy. Jfritsch covered this in post 459. He mentioned that if a dealer was popular, you could beat your head against a wall and only get a free oil change. Something to that effect anyway.
Sorry but I have never heard a car salesman tell me that at the beginning of the next month it will go up so I really don't get your mirage scenario.
1500 ext cab, 2wd, with california pkg MSRP 29315
i paid 26480, so about 10% off MSRP and i took the 0% financing
they also gave me a fair deal on my trade-in.
from my experience, the internet quotes i was getting were 5-6% below msrp, and I could get a few of them to 8-9% after a little negotiating, but they were insulting me with what they wanted to give up for the trade-in. my biggest asset was the research i've done and the posts i've read on edmunds to see what everyone else is paying. having the knowledge of a what a good deal would be, as well as having a few dealers competing for my business gave me the advantage in the negotiating process and it was actually very quick and painless.
True, a good deal can be had any day of the month, but the "best" deals will be had the last couple days of the month. Why you ask? Because at the beginning of each month, dealers are optimistic about hitting their numbers and believe that they have 31 days to achieve their goals.
Example: Customer comes in on the 2nd and gets quoted $250 over (sounds decent, right?). Besides, dealer has 29 days to haggle with him, or move on to customer B, so the desperation of a sale is not prevalent yet.
Now, the same customer waits 'til the 30th and that $250 over quote drops to $1250 below. That's a $1500 swing and a subtantial savings - certainly worth waiting a few weeks for.
You have to remember though, prices are affected in so many different ways - color, engine, tranny, options, length of time in inventory, etc.
Get Dealer Pricing
Restrictions $2000 Customer Cash may not be combined with 3.9% - 6.9% APR.
Comments Dealer participation may vary. Incentives and Rebates are provided subject to the terms of our Visitor Agreement.
$1000 Cash to Customer start: 05/22/2008 end: 06/02/2008
Restrictions GM Memorial Day Event Bonus Cash is good towards the purchase or lease of select vehicles.
$1500 Cash to Customer start: 05/22/2008 end: 06/02/2008
Restrictions GM Memorial Day Overage Bonus Cash is good towards the purchase or lease of select vehicles. Vehicles must have a price effective date on or before January 22, 2008 to qualify.
WHAT does this last sentence mean?
--jjf
So traded in the GMC plus $2,950 and have a new truck. Upgrades were cd, bed liner and HD suspension over the GMC. Plus I had three gallons in the GMC 33 in the Chevy. Thats $120 buck incentive right there. 7% better fuel economy with 7% more horse power. And XM radio. The GMC had 12,500 miles. The deal is out the door.
With the better options, better 5.3 the deal is right there with the trade I made last August for the GMC trading a 2006 bare bones 5.3/Air LB Silverado WT with 32k miles plus $2,150 for same 2007 GMC. GM is letting me always drive a new 5.3 LB for under $250 a month. The no trade in cost on the truck cash after tax would have been under $13,700. I paid $14,200 for my SB 5.2 Dakota Sport with less options 14 years ago. Needless to say, I'm a fan of the GM Card.
Where did you find out about the $1000 GM card bonus rebate? I haven't seen it or gotten any information on it.
As far as what it is worth 12 months later... who cares? A vehicle isn't an investment, it's a tool you need to live.
So they sent me a private offer and additionally sent me the $1000 GM card bonus. When I saw the Memorial Day incentives and realized the base price had gone up $435 on newer arriving ones as of late, figured pulling the trigger now would be a lot cheaper than trying to upgrade a bit later.
Chevy isn't this bad, (their msrp is slightly more realistic) but with a 38000 vehicle wholesaling for 14000 off msrp or so after 12 months, don't get carried away with a big 7500 discount with conquest rebate, military rebate, student discount,loyalty discount, trade in bonus,dealer discount, gm card, gm card bonus, x-plan, wack dealer's ex-wife discount, etc... 7500 off is an average deal, and they are hardly giving it away at that price.
Good luck
--jjf
GM dealers can only go so low off the sticker price.(unless you expect them to lose money) They are generally regulated my GM on what they can sell trucks and cars for. So to expect 10K off sticker is pretty unlikely, since GMS pricing is usually about 10% off. So if you get 10% off plus rebates you are doing pretty good.
As far as what it is worth 12 months later... who cares? A vehicle isn't an investment, it's a tool you need to live.
About 8000 off msrp has been an average deal off a new vehicle like this in july for the last few years, that was before the gas prices made the value of these vehicles really fall. About 3500 miles on a demo at 30 cents a mile or so would put you at 9000 off msrp for an average or slightly better deal a year or two ago. Definitely nothing to write home about for an 08 now unless a significant amount of dealer add-ons.
Its not a really bad deal either, just don't base the purchase on the assumption you're getting a great deal. The deal with 0% for 36 or 60 months would be much better.
If you look up the wholesale trade in value of a used 07 like the 08 you're looking at (what your 08 will be worth in 12 months) on kbb.com or nada.com you will see it probably wholesales for about 15000 off msrp. This is probably optimistic as the value of 20 mpg trucks are falling as we speak and the books are high.
Good luck
--jjf
No,my mistake ,it is off the MSRP,which is 34,620.00 ,which would come to 25,620.00 plus TTL. ,still a deal????
Be sure to check out our other Silverado forums here:
Chevy Silverado
regards,
kyfdx
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Good luck
--jjf
I haven't had mine very long, but it seems like 15 around town and 18-21 average on the highway would be normal. But if you have a heavy foot, and drive at 80mph on the highway, I bet all you would get is 13-15mpg.
You say the truck was the Ext. Cab All-Star Edition 2WD and had a sticker price of $30,110. GMS price would at best be $28,000. You also said you got $5,000 in rebates. So, that would mean cap cost of $23,000 NOT EVEN INCLUDING ACQUISITION FEE, minus a GENEROUS? 57% residual of $17,162.70 = $5,837.30 divided by 39 = $149.67. Rent Charge at 4.75% would be $79.49 which would make your pre-tax payment $229.16 per month. Add even 7% sales tax and you are at $245.20
$245.20 a month would be the best case scenario. Add in acquistion fee and lower residual for the 39 month, even though it was the 10,000 miles, and actual GMS price closer to $29K and you are over $250 easy.
If you put down money just say you did. I don't get why people come on here and lie about their deals.
As I tell everyone who lies about their lease payment...POST YOUR LEASE CONTRACT NUMBERS LINE BY LINE. IF YOU ARE LYING, THE NUMBERS WILL TELL THE TALE.
7000 off msrp was an ok deal the last few july's. Nothing to write home about. With these machines in freefall, and many dealers not taking them in trade, a true 9000 off deal, generous residual and 2% instead of 4.75% subsidized rate off a new lease is not inconcieveable, especially if the dealer needs to make a sale to meet a target for the month. Or in a heavy truck region. I would have thought he left off the down payment too in previous years but for 20mpg trucks (especially domestic with probably a 1million+ truck overcapacity) it wouldn't surprise me now.
Good luck
--jjf
That monthly payment is simply not possible. I'm not completely sure of the current residual and money factor but going off the May numbers here's what I come up with:
You say the truck was the Ext. Cab All-Star Edition 2WD and had a sticker price of $30,110. GMS price would at best be $28,000. You also said you got $5,000 in rebates. So, that would mean cap cost of $23,000 NOT EVEN INCLUDING ACQUISITION FEE, minus a GENEROUS? 57% residual of $17,162.70 = $5,837.30 divided by 39 = $149.67. Rent Charge at 4.75% would be $79.49 which would make your pre-tax payment $229.16 per month. Add even 7% sales tax and you are at $245.20
$245.20 a month would be the best case scenario. Add in acquistion fee and lower residual for the 39 month, even though it was the 10,000 miles, and actual GMS price closer to $29K and you are over $250 easy.
If you put down money just say you did. I don't get why people come on here and lie about their deals.
As I tell everyone who lies about their lease payment...POST YOUR LEASE CONTRACT NUMBERS LINE BY LINE. IF YOU ARE LYING, THE NUMBERS WILL TELL THE TALE.
I paid my security deposit, lisence plate fee, tire warrenty, doc fee and first months payment up front for about $889 (had to buy a new plate$$). If you knew a little about math, you would find that you give money away if you put money down on a lease.
So here's your line by line striaght off my contract.
a. Gross cap cost..........27577.23
b. cap cost reduction.....$4200 (3000 loyalty cash plus 1200 all star edition cash)
c. adjusted cap cost......$23377.23
d. residual value.........$19567.20
e. depreciation etc.......$3810.03
f. rent charge...............$3118.17
g. total base of monthlypayments .....$6928.20
h. lease payments .................36 (sorry, i think I said 39 initially)
i. base payment....................$192.45
j. tax.....................................$11.55
Total........................................$204
You have to remeber that right now the LT1 with the power pack and the all star pack have extra discounts.
This site is to help folks out about cars and trucks. I got a lot of info off here before I leased this, which I am greatful for. It is just really sad that some folks try to pump thier egos up by trying to make someone look bad, when in this case, this guy didn't get all the info, and now needs to say he is sorry to me... Next time buddy, just ask nicely to fill in all the gaps. As you can see, I am more than happy to show you how I got my payment.
1. You said initially that your MSRP was $30,110 with GMS Price of $26,708 with
some additional undocumented $2,000 rebate phantomly applied. It doesn't
make any sense.
2. You said you put "OUT THE DOOR NO MONEY DOWN" when in fact you now
claim to have paid at least $889. Nothing down indicates to most people
SIGN AND DRIVE. ZERO OUT OF POCKET.
3. Someone asked what SELLING PRICE was and you said...
"I'm not really sure, didn't look at it that close. I get GMS and there are $5000
in rebates. So it must have been around 22K." Now you are claiming $6,200 in
rebates. What?
4. You claimed initially that you leased for 39 months now claim 36 months. How
could you not at least get this right? Don't tell me you don't know 36 from 39.
5. Your residual is around what 65%? On a 2wd 36 month? That is suspect.
Plus your money factor seemed low to what others were getting. Again, I'm not
privy to the newest info. Just saying.
If these numbers ARE correct, post them right the first time. Don't guess "around $22K" and expect anyone to believe you. I still don't think that GMS price on a $30,110 MSRP is $26,708 and I don't think the residual would even be within 10% of 65%. When I looked at GM Family First website it was not even close to that. However, that was not knowing your options on the truck. I would ask you what options you have but I would probably get 3 different answers so it just isn't worth my time.
Time to move on...
Thanks,
kyfdx
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So to clearify for everyone. I have the invoice in my hand right now, and the GMS price really is $26708. If I could post PDF's I would be more than happy to post it here. You want me to email it to you, I will. GMS is usually about 10%(at least off the last two cars I have bought). So to help you out, 10% of 30K, is 3000. So GMS should be about 27K. So how is 26708 that far off from the 27K estimate? That would be $292 to help you out with the math...(Maybe you are confusing GMS with invoice price?? GMS is less than invoice, the invoice price was $28017) As far as the rebates, I just looked online on what GM was offering, and it seemed it was 5k.
As far as flip flopping posts.... I did say I wasn't sure on the numbers, then I went and got you the line by line. I'm missing the flip flop here... AGAIN, the dealer gave me the bottom line, and I said I'll take it. At $204 per month, I don't really care how they get there. When you buy with GMS, it isn't going to get any cheaper...
You also have to figure that my deals here in SE Michigan, for a family member of a GM employee, might be a little different than other parts of the world. Our lease rates might be a little better.
i just wish you woulld cool it a little. All you have to do is ask and I will look into it for you. there is no real reason to be a prick about it. Why would I lie about something llike a lease payment? I posted it to let folks know that great deals are out there if you want to lease. If you do your home work, you would know that dealers add onto the base lease payment to make more money. You can use this info as a barganing point, since you will get two different lease rates for the same truck from different dealers....
As far as options. It is a LT1, has the LT1 con. pack, All star edition and a ez lift gate, 3.73 rear.
Would say its a great deal, but if a used 07 like it with 15000 miles has a trade in value of 19000, that may really mean about 17 and change if that. You see where I'm going here. You don't know where the bottom is unless you get competitive bids to find out.
Deals like this should get some of the folks to calm down about low lease payments as these trucks are moving like mud. They've made the GM, Ford and other domestic manufacturers viable, with their high markups. They say they are going to concentrate on making higher mileage vehicles profitable, but they've said that for years.
Good luck
--jjf
Live here in Arlington,Texas ,am looking at 2008 CrewCab 1500,with a 5.3L engine,2wd, with LT1 convenience package and the Texas Edition,cloth seats. On the paperwork the salesman gave me it has 32,900.00MSRP,,,,invoice amount,,,,,30,649.00,,,GMS amount,,,29,120.85. Now they are offering to sell me this vehicle for 30,424 plus 2000.00 rebate ,plus 3,000.00 GM loyality dicount ,which brings to sale price to 25,524.00. Would this be a good deal or do I need to try to get this price down more yet??? Don't forget this is 60 month no interest rite now also. Thanks for any help
Again, I am in SE Michigan (car country) and most people buy 4x4 trucks, so it doesn't surprise me that they are giving great deals on 2wd trucks around here.
Plus, you drive around and look at the dealers around here, and all they have on the lot is trucks! They have to give them away now!
I was in a position where I needed a truck, to use as a truck. So I just wanted the best lease deal since it won't be my daily driver. I shopped around, and this is the deal I got. I never asked how or why, because I don't care about anything but the payment. I wasn't really surprised, at the price, but I am used to living in a GM area. My mom drives a $33K trail blazer for like $215 per month, my dad paid $7k under sticker for a basic Impala last year, I paid $21,xxx for a $28K monte SS 6 years ago, our malibu maxx was $17xxx for a $23xxx last year. It's just the deals we get around here.