2013 and earlier Chevrolet Tahoe Lease Questions

spiketudor · September 2006

Car_man,
Please tell me what you think of this deal.
2007 Chevy Tahoe LTZ
Nav,Entrtnmt sys, etc...

MSRP $53,700
Sale Price $49,300
This Cincinnati Ohio dealership will lease me this truck for $679 a month (tax included) for 39 months with $0 down at 10,000 miles per year.
They will also do a 39 month lease with $0 down at 12,000 miles per year for $709 a month.
This seems a little high.
Your thoughts?

CarMan@Edmunds · September 2006

Hi scooter650. I don't believe that GM's lease program for the Tahoe changed much for the month of September. Are you interested in a 2006 or a 2007 model? General Motors is no longer providing lease support on the 2006 Tahoe. You never mentioned how long you want to lease for or what sort of mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. 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 6.3% and 60%, respectively. Let me know if you need any other info.

Car_man
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CarMan@Edmunds · September 2006

Hello spiketudor. The 2007 Chevrolet Tahoe that you described has at least a $5,200 spread between its full MSRP and dealer invoice price, probably a few hundred more. The $4,400 discount that you were quoted for this truck looks very reasonable to me, but you may want to stop by the following discussion to compare the price that you were quoted to what other community members have paid for similar trucks lately: "Chevy Tahoe: Prices Paid & Buying Experiences". Using the prices that you mentioned in your post, an MSRP of $53,700 and a selling price of $49,300, I estimate that this truck would have a 39 month, 10,000 mile per year, zero down, pre-tax monthly payment of around $603. With 12,000 miles per year, the payment for an otherwise identical lease would increase to around $628. As you thought, the payments that you were quoted seem a little high to me as well.

Car_man
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hooops · September 2006

Hi Car_man,

Can you please provide the lease numbers for the 2006 Suburban LS 1500 4dr SUV 4WD and the 2006 Tahoe LS 4dr SUV 4WD for 24 and 36 months each with 15k miles per year.

Thanks a lot

hooops · September 2006

Hi Car_man,

Sorry to post again, but I'm in desperate need for the numbers (mf and resid) on a 2006 4x4 Suburban LS 1500 (w LT Equip Pkg) and a Tahoe LS (with LT Equip Pkg) for 24&36 months with 15k miles/yr. I've gotten a few quotes and want to make sure I have all the info before proceeding. I know there's a $6k incentive, but are there any other incentives or restrictions?

Thanks

hooops · October 2006

Car_man,

My pilot lease is up on 11/1 and I'm looking to lease larger suv. My understanding is that there is no lease support on 2006 Chevy Tahoes and Suburbans. With that being said, can you please provide me with the mf and resid for 2007 Suburban LS 4x4 1500 and Tahoe LS 4x4 for 24&36 months with 15k miles/yr. I'm also considering the Sequoia SR5 4x4 so if you could provide the numbers (same term as above) for that SUV as well, I would much appreciate it.

Thank you very much

CarMan@Edmunds · October 2006

Hey hooops. Unfortunately, General Motors is no longer providing lease support on 2006 models. If you really want to lease a 2006 Suburban, you would have to do so through an independent bank if you could find one that was willing to lease it to you. You are probably going to be better off financing or paying cash for a 2006 Suburban or Tahoe at this point. If I was in the market for one, I personally would finance it at 0% for 72 months.

Car_man
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CarMan@Edmunds · October 2006

Here's the info for the 2007 models that you're interested in, hooops. GMAC's current base lease rate and residual value for a 24 month lease of a 2007 Chevrolet Suburban LS 4WD with 15,000 miles per year are 6.3% and 67%, respectively. The numbers for an otherwise identical 36 month lease are 6.3% and 60%. The numbers for the 2007 Tahoe are exactly the same. When negotiating your lease on either of these trucks, keep in mind that General Motors is providing $1,000 bonus cash on them nationwide this month. It is providing additional bonus cash on them in select regions. I would be happy to tell you if there is any additional bonus cash available in your area if you tell me what state you are in.

Car_man
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hooops · October 2006

Thanks as always for the information. I'm from NJ - can you please let me know if additional bonus cash is available there? Do you expect any changes in terms of resid/mf or bonus cash availability in early November on the Suburban?

Thanks again

wiggles3 · October 2006

CARMAN,
I am an avid reader of your forum and now need your opinion on a lease for a 2007 Tahoe. The details:

2007 Tahoe LT 3 (sunroof, leather, loaded)
48 months @ 12k miles per year

MSRP $40,510
Selling Price $ 36,185
Residual 62 %
Interest reate 6.3%
$ 2k down plus tax, tag and dealer fee ($598)
Dealer is throwing in free bug shield($110...really needed in Florida) and lease end warranty protection ($595 value)

Monthly $407 plus tax

I have shopped the local market and this is the best numbers I have been able to find here in central Florida, Your thoughts?

wiggles3

ps. Thanks for all your good work in educating the consumer.

fsudavid · October 2006

I'm in a similar situation as wiggles3. I live in the Tampa Bay area and am looking for the best lease deal on a '07 Tahoe in the $40k MSRP range. One of the local dealers has been running an ad every weekend offering the following:

2007 Tahoe
$219/month + tax
$2500 down + (dealer fee, title, etc)
27 month term
10k miles

When I called about the ad, the finance manager said I could get the same vehicle (LS w/no options) w/out the $2500 down for around $419/month plus tax. This option does not sound as good. I understand that putting money down on a lease is not wise, but in this instance it seems to make a huge difference in payment. Is the dealer just artificially inflating the payment in the no cap cost reduction option? What are your thoughts? Do you see any more aggressive rebates other than the current $1k in the near future? Thanks in advance!

CarMan@Edmunds · November 2006

You're welcome, hooops. Through October 31st, General Motors was providing $1,000 bonus cash on the 2007 Chevrolet Tahoe. This program has expired though. The Tahoe's lease rates and residual values are scheduled to run through the end of the year. I will try to find out today if GM has any new bonus cash on this truck. Let me know if you're interested in finding out what the new program is like.

Car_man
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CarMan@Edmunds · November 2006

Thanks wiggles3. I'm glad that you enjoy these discussions so much. I believe that the dealer invoice price of the truck that you described is around $37,025. Plus, GM was providing $1,000 bonus cash on it in October. This take us down to $36,025. As you can see, the selling price that you were quoted, $36,185, is very close to this. That means that you are being given a very good deal. Furthermore, the lease rate that you were quoted is right in line with GMAC's current buy rate for this model. This is always a good thing. I'd say that this is a very good deal. If you like the truck, go for it.

Car_man
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CarMan@Edmunds · November 2006

Greetings fsudavid. I would be happy to calculate what this truck's lease payment should be without any sort of down payment. In order for me to do so through, I need you to provide me with its full MSRP and selling price. Let me know what these numbers are, they might even be included in the fine print of the ad, and I'll crunch some numbers for you.

Car_man
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spiketudor · November 2006

Car_Man,
Will there be more incentives on the Tahoe after say Thanksgiving? I am wondering if it pays to wait on leasing my 2007 LTZ.
Thanks! :confuse:

scrump9154 · November 2006

Any word on what GM is going to do for incentives? I am looking at a 07 Tahoe LT-3. I am looking at doing a smart buy depending on the deal offered. I have been told that there is a 3k rebate right now and that Tahoes have a 2500-3500 markup depending on the model. Is this information true?

wiggles3 · November 2006

CAR MAN,

Thanks...took the deal on the TAHOE...

Regards,

Wiggles 3

bigragu2 · November 2006

Looking for any incentives from GM. Researching 07 Tahoe LT-2 or LT-3 lease. Just started looking in MA. Any advice or direction would be helpful. Also, I am in a lease now with Jeep for another 6 months. Is that new GM lease buyout up to 2 grand worth it? Or should I buy out the jeep and work the trade to cut down on the sales tax??

dogs835 · November 2006

I have been in touch with a local chevy dealer in Florida who gave me a quote of $30,037 for a base tahoe - the msrp was $33390 minus their discount and also a $2000 rebate.

When I asked about leasing, he told me that the sale price was $32037 because the rebates do not apply to lease vehicles. He also quoted me a lease rate of 8.9% which almost knocked me off my chair. He said there was a little bit of room for excellent credit. Does anyone know what the Chevy money factor is for Novemeber for the SouthEast region?

When I looked into the GM Suppliers program, I got a quote of just under $30k with a $2500 rebate.

First question: does the Chevy/GM rebate program typically extend to lease vehicles?

Second Question: Has anyone one the forum had any experience with the GM suppliers program - good or bad?

Thanks.

carman77471 · November 2006

What is the total down and lease pymt quoted?

dogs835 · November 2006

62% residual, 8.9% finance and just under $1500 for inception charges.

No money down and the lease was $490.

I saw an ad on TV yesterday for an 07 Tahoe for $399 month for 48 months, but missed the fine print....

sethandstac · November 2006

I have a GMS discount to use. I contacted 2 dealers and they both gave me about the same info on a 3LT Tahoe that I would be building from scratch.

MSRP of 40,700 and the GMS price around 36,200. They both said they couldn't find out what the finance charge was-sd the computer generates it.

Residual of 62% on 39 month with a payment of 525.00. I have great credit-at least 730. I live in northern Indiana.

How do I get these guys to stop jerking me around because I'm a girl! Finance charges were about 650.00 for one place and the other didn't tell me.

borderman01 · November 2006

Went to a NJ dealership in WNY and was quoted the following;

MSRP $44369 Tahoe 2007 2LT
Selling Price $40569
Lease rate 6%
Residual value 49% (I think this may be low)

Does this sound fair and what would I be looking at monthly?

Thnx.

tatung70 · November 2006

I just bought a 2007 Tahow LTZ with a few extra's. REtail was 49999. I paid 38.500 and then put money down, etc.

Is this a good price or did I leave money on the table?

dubbsy01 · November 2006

I am looking to lease an 07 Tahoe lt3 in Boston Ma (sales tax 5%). Is 60% residual at 7.5% the same anywhere in the US? is there anywhere I can go on the web to stick these numbers in along with an asking price and calculate a monthly payment on a lease? or do I have deal with pushy salesmen?

dogs835 · November 2006

In FLA they are advertising a 2007 LS for $25,898 (3 at that price) and another dealer same truck for $26,999 (5 at that price).

I am not sure of the same incentives apply to an LT, but they are dicounting between $7000 and $8000 below MSRP for an LS.

I was told by the dealer 62% and 8.9% with a little "wiggle room" for excellent credit. I think the inception charges were quoted at about $1300 or $1400...

borderman01 · November 2006

Went to another dealership in jersey city. This is what they offered;

Tahoe 2007 LT3 Some options, leather seats, dvd, 20" rims.
MSRP $47320
Selling Price $41099 (Supposedly)
Lease rate 6%
Residual Value 57%
36/39 mnths
$659.00 + Tax.

I definitely walked away from this deal. I don't know where they came up with this offer. When I told him that I did my own calculations, I came up with approx $458 + $40(tax). He says that I didn't do the cal right. For this type of money you can get the new audi truck.

allison5 · November 2006

I really want the 07 Tahoe but I think I am in a bind with current 04 GMC Yukon. I have 45,000 miles on my yukon and the dealer would only give me 18,000, this isn't surprising since that is about what Kelly BLue book says. Anyway the problem is that my pay off is 27,000. The dealer out here in California says the best deal to do is lease but that I would have to pay the difference of 9,000 and then of course that does not include the down payment of new vehicle. I realize I am completly upside down but if I wait a year or two won't it be worse with more miles, depreciated more etc. I guess another option is to sell it on my own and heopfully be able to get more than that. Amy ideas???

rockman59 · November 2006

allison5 said: I realize I am completly upside down
____________________________________________________________
You just said it all....your only way out is to come up with the $$$ to pay off the loan or just continue to drive the '04 until the end of the contract. By keeping the vehicle the payoff will go down faster than the vehicle will depreciate and you will get back to having some equity. You could sell the '04 on your own but that would still leave you a sizeable payoff, less than $9K, but probably still around $6K to $7K.

marcusc · November 2006

Car-Man, Im also in FL and am very interested in leasing a 2007 Tahoe LT Z71. What should the residual and money factor be in FL through the end of the year? Also, are those figures set by the dealership or are both figures set by the bank (GMAC). Secondly do you anticipate those figures improving in the first quarter of 07 or am i better off leasing before the end of year?
Thanks for your help...

CarMan@Edmunds · November 2006

Hello spiketudor. General Motors did not introduce any additional consumer incentives on the 2007 Chevrolet Tahoe for Thanksgiving. It did introduce some dealer cash on this truck a couple of weeks ago. On November 18th, GM dealers were provided with a pool of dealer cash that they can use to help them sell vehicles. Dealers can use up $1,500 dealer cash on the '07 Tahoe, though most dealers will probably use much less than that. It is difficult to tell how much of this dealer cash dealers are using on specific models, but it is good to know about when negotiating.

Car_man
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CarMan@Edmunds · November 2006

Hi scrump9154. General Motors has a total of $2,000 to $3,000 in customer cash incentives on the 2007 Chevrolet Tahoe right now. The exact amount varies by region. Having said this, this cash is not compatible with leases through GMAC. I am not sure about GMAC's SmartBuy program, but I suspect that it is not compatible with it either. It is difficult for me to say for certain because I personally do not keep tabs on the details of manufacturers' balloon note programs. You can find out the exact spread between this model's MSRP and dealer invoice price by looking it up in the following section of this site: Edmunds.com - New Vehicle Pricing.

Car_man
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CarMan@Edmunds · November 2006

You're very welcome, wiggles3. Congratulations on your new truck!

Car_man
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CarMan@Edmunds · November 2006

Hello bigragu2. General Motors does have some customer cash incentives on the 2007 Chevrolet Tahoe right now. Unfortunately, they are not available on leases. As far as getting out of your current lease goes, GM is running an early lease termination program right now however it is only available to current lessees of GM products. Have you seen a different program out there that offers to get current lessees of competitive products out of their deals early if they purchase or lease a new GM product? It is possible that GM sent out some sort of direct mail piece with an offer like this.

Car_man
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CarMan@Edmunds · November 2006

Hi dogs835. What you were told about the customer cash not being available on Tahoes that are leased through GMAC is correct. While GMAC's base lease rate for the 207 Chevrolet Tahoe is bad, it's not as bad as the rate that you were quoted. It is currently 6.9%, and I doubt that you need "excellent" credit to qualify for it. It sounds to me as though the dealer that you are working with is attempting to mark GMAC's base lease rate for this model up to add additional hidden back-end profit to your deal.

General Motors' supplier purchase program enables consumers who qualify for it to purchase GM products for a set price, which is fairly attractive. If you qualify for GM's supplier purchase program there is a good chance that you will get a better price on the Tahoe that you want than you would be able to negotiate on your own.

Car_man
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CarMan@Edmunds · November 2006

Hi sethandstac. The fact that you can get the GMS price on the truck that you are interested in is great because it guarantees that you will get it for an attractive price. Now just make sure that the dealer you get your truck from uses GMAC's base lease rate of 6.9% to calculate your vehicle's monthly payment and you're in business.

Car_man
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CarMan@Edmunds · November 2006

Hi borderman01. This looks like a very fair deal to me. I would be happy to estimate what this truck's lease payment should be for you, but you never mentioned how long you want to lease it for or what mileage allowance you need. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Using the prices that you mentioned in your post, an MSRP of $44,369 and a selling price of $40,459, I estimate that this 2007 Chevrolet Tahoe's 36 month, 15,000 mile per year, zero down, pre-tax monthly payment should be around $578.

Car_man
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CarMan@Edmunds · November 2006

Hi tatung70. This particular discussion is for consumers to discuss leasing the Chevrolet Tahoe. You may have better luck getting feedback on the price that you were quoted to purchase this truck by visiting the following discussion: "Chevy Tahoe: Prices Paid & Buying Experiences".

Having said this' let's take a look at your deal. Are you saying that you received a $11,500 discount on your 2007 Chevrolet Tahoe?!? If so, you got an amazing deal, but I don't see how this is possible.

Car_man
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CarMan@Edmunds · November 2006

Hi dubbsy01. You never mentioned how long this lease is or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. 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. I would be happy to estimate what the monthly payment should be on the exact truck that you are interested in if you provide me with its MSRP and selling price.

Car_man
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CarMan@Edmunds · November 2006

Hi allison5. Are you financing or leasing your Yukon. If you are leasing it, all you have to do is wait until the scheduled end of your lease and walk away from your truck, only having to pay a penalty for any excess mileage that it has. It sounds like you are financing your truck, not leasing it though. Generally speaking, the longer you want to get a new vehicle, the less upside down you will be on your current one. New vehicles experience their highest rate of depreciation during the first year of ownership. By waiting a year or two to get something new, you should be able to catch up to your truck's pay off price, perhaps not completely but you'll be much closer than you are right now. If I was in your situation, I personally would wait another year or two to get a new vehicle. Heck by then, the deals on the redesigned Tahoe may be even better than they are right now.

Car_man
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CarMan@Edmunds · November 2006

Greetings marcusc. You never mentioned how long you want to lease this truck for how what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Through January 2nd, 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. Vehicles' residual values are set by banks and individual dealers do not have the authority to alter them. Dealers cannot lower vehicles' lease rates or money factors, but they often are allowed to mark them up to add additional hidden back-end profit to deals. That is why it is important to check to make sure that your vehicle's base rate is being used to calculate its monthly payment. It is difficult to say what GM's lease program will be like for this truck when its first quarter program is announced. Its new lease program probably won't be any worse than its current one is, but it is difficult to say for certain.

Car_man
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dubbsy01 · November 2006

I was looking for a 36 month lease w/ 12,000 mi/year. msrp 47,175 selling price of 40,000. I recently put these numbers in a matrix at leasecompare.com and got a residual value of 22,540 and a money factor of 0.00241 monthly payment of 633 w/1,000 down... ca u calculate a monthly payment for me..?
Thank again,
Dubbsy01

I'm just about to give up, love the truck but can't swing these payments.

p.s. does gm do a lease w/ say 10,000 miles a year if so how much would it effect a monthly payment?

allison5 · November 2006

Unfortunatly I am not leasing my Yukon, I financed it. As I think I said the pay off on it is still around 27,000 and it is a 2004. Considering I can only get around 20,000 + (I have 45,000 miles on it)I agree that I would be so upside down. Another concern is that if I wait a year or so it will have more miles and worth less right? I pretty much decided that I do NOT want to go to a minivan as I think I really would feel more comfortable having the AWD in the winter months since we go to Lake Tahoe so much.

borderman01 · December 2006

What if I wanted to do $10K miles. I know you said and I believe as you do to put no money down since you won't get it back, but assume I put down $2500. Thnx.

dubbsy01 · December 2006

I have a question about how to calculate residual values? when you say gm is currently leaseing at 60% residual value and 6.9 % respectively for a 36 month lease w/ 12k per year. Does that mean 60% of the sale price? of msrp? or some value in the middle?

blkcat1 · December 2006

Hello Im so happy I came upon this site it has been very helpful. Im in negotiations to lease a Tahoe LT3 ,leather sunroof, 20" polished rims as options. I got a price of 39,700
the invoice being 39,100. Im quoted 1000 down 15k miles per year for four year lease @ $640 per month. When i put this in a calculator it dosent compute I have no idea what Im doing. Does this sound right? What if I put 3K down what will my lease payment be? Id like to be in the 500 dollar range. Thanks for you time;)

kyfdx · December 2006

MSRP including destination charge..

dubbsy01 · December 2006

thanks kyfdx,
so you take that dollar ammount: say $52,580
my lease loan would be for 40% of that minus whatever discount I'd get on a sale price, of course plus financing charge 6.9% apr? does that sound about right?
dubbs

kyfdx · December 2006

Monthly depreciation + finance charges = Monthly payment..

Plus taxes, of course...

So.. in essence.. you are correct.

dubbsy01 · December 2006

Thanks again,
I feel that the educated consumer gets treated more fairly in the car buying field. It's unfortunate that more people fail and/or neglect to do the proper research prior to making such a large purchase. Edmunds has been a great tool for me in his endevour ....forums like this tremendously effect the consumer's ability to negotiate the best possible price on a vehicle.
dubbs

2013 and earlier Chevrolet Tahoe Lease Questions

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