2013 and earlier Chevrolet Equinox Lease Questions

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  • manelson79manelson79 Member Posts: 1
    Hi Carman,

    Do you happen to have the money factors and residuals on these two models?

    2012 Equinox LS FWD with 12,000 Miles - 39 Months
    2012 Equinox LT1 FWD with 12,000 Miles - 39 Months

    A followup question regarding money factors. Is this number dependent on credit score? I was told to qualify for the Tier 1 credit I must have a credit score over 800. My reasoning for these questions is I was trying to make a deal on the current Nationally advertised lease on the Equinox LS but I have a feeling I am being taken advantage of but I cannot be sure.

    Thanks in advance for your help!
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    I certainly do, manelson79. The banks that General Motors runs its leases through actually use lease rates instead of money factors to calculate vehicle's payments. You can convert these lease rates into approximate money factor equivalents by dividing them by 2400.

    Ally's January base lease rate and residual value for a 39-month lease of a 2012 Chevrolet Equinox LS FWD with 12,000 miles per year are 2.1% and 51%, respectively.

    The lease rate for a '12 Equinox LT1 FWD would be the same, but the residual value would be 49%.

    Most banks are much more strict than Ally in terms of who they allow to qualify for their top rates. you definitely don't need a credit score of 800 to get the best rates on a GM lease.

    Car_man
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  • awurstaawursta Member Posts: 3
    Car_Man did the rates for the '12 Equinox 1LT change for February or are they still 2.1% and 49% residual?
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hey awursta. The lease numbers for this truck are exactly the same in February as they were in January.

    GM increased the cash incentive on 36-month leases of '12 Chevrolet Equniox V6 models to $1,725, but the cash on leases of the 4-cylinder remains $750.

    Car_man
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  • fldave0513fldave0513 Member Posts: 2
    I was at the dealer today and man what a waste of time. A young kid who used to be a bartender was my salesperson and admittedly did not know a lot about leasing. I knew a lot more and I know NOTHING!!

    I have the following information and looking for advice:

    Invoice says $27208 and lease will be for $27K even.

    Residual value for a 36/15K lease is 48% (?)

    Was told that the money factor was 2.960 (%)? -- I see that the Edmunds.com lease calculator is giving my zip code a default of .0029 as a default. I have a feeling that this is the interest rate already converted by dividing by 2400...Any input?

    According to the above, the lease payment will be $547 plus the 6% FL tax. This seems outrageous.

    Please advise.

    Thanks, Dave
  • longschlng22longschlng22 Member Posts: 6
    edited March 2012
    Hi carman... I was wondering what the money factor, residual on 36 months was for the 12 equinox fwd LS with msrp 24,555.

    what bonus cash is available for leases as well?...i was wondering what the difference was between the conquest for 1000, us ally for 500, us bank for 500, and us financial for 1000 and 1500.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi longschlng22. Ally's current base lease rate and residual value for a 36-month lease of a 2012 Chevrolet Equinox LS FWD with 15,000 miles per year are 1.2% and 50%, respectively.

    As you can see, Ally publishes lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400.

    General Motors is currently providing a $1,825 cash incentive on 36-month leases of this version of the Equinox through Ally. There's an additional $500 available on top of that on the LS trim level. If you are a current lessee of a non-GM vehicle, you can get another $1,000 on top of that.

    Car_man
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    Car_man
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  • neelmneelm Member Posts: 1
    Quote : General Motors is currently providing a $1,825 cash incentive on 36-month leases of this version of the Equinox through Ally. There's an additional $500 available on top of that on the LS trim level. If you are a current lessee of a non-GM vehicle, you can get another $1,000 on top of that.

    How does this work ? Is it reduced from the negotiated price or from total lease cost over the lease period ?
  • jmangajmanga Member Posts: 9
    Does anyone know what the current Ally rates are for an Equinox 2LT AWD in the NYC region?

    I think there is still 1850 lease cash from ally,

    Thanks
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    You can use the cash incentives to negotiate a low capitalized cost for the vehicle that you want to lease.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi jmanga. Ally's current base lease rate and residual value for a 36-month lease of a 2012 Chevrolet Equinox 2LT AWD with 15,000 miles per year are 1.2% and 48%.

    The lease cash is $1,825 for 4-cylinder Equinox models. It was increased for V6 models.

    Car_man
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  • 62vette62vette Member Posts: 17
    Hey CarMan-

    How does the lease cash work? If they have advertised leases with 1800 down (just throwing it out there) would lease cash potentially wipe out the down?

    I am considering one of these but would prefer lower down. Is there an advertised "special" on a 36 month lease that includes payment? I see the 24 month 229 a month offer. I like the payment but not the down payment on that one.
  • 62vette62vette Member Posts: 17
    I was at the dealership on Tues, drove the car. Talked for a while etc. I have a 2003 Silverado I can sell to the dealership and 2 other chevys. They talked about loyalty programs, incentives and all sorts of great stuff.

    They had the standard Ally offer mentioned above. The MSRP was about 24350, the base model.

    I would like a 36 month lease. They called today and offered me a 39 month lease with 740 down and 299 a month. I looks to be a couple bucks a month more than the offered lease. I would expect less depreciation the last 15 months to make it cheaper.

    The offered by Ally is 7395 for 24 months (308 a month avg). This offer was 12102 (310 a month avg) for 39 so almost 5k depreciation the last year/15 months? How does this look to everyone else? I don't want a 39 month lease for starters and my goal was lower down. I thought they would come back with a lower down and the same payment.

    They the sam car on the lot for sale for $21,980. But said sale prices on cars do not effect the lease prices. I can see where that comes from but still expected better. maybe someone can help me I am off base.

    Thanks!
  • mrsswordmrssword Member Posts: 1
    So we are looking at leasing a smaller suv & the equinox is one of the options. This is the current deal on the table. Located in eastern, CT.
    36 month lease at 12K miles
    Going with the AWD LTZ 4 cylinder MSRP 30,970.
    + with additional options totaling 2,920. = 33,890.
    The military pricing they gave us on this was $32,100. Net selling price
    Lease cash 1,250.
    Acq fee 0
    Down payment 0
    We have a net trade in of 3,700.
    Ancillary/other 1,580.
    Dispo waiver fee 200.
    Net cap 28,930 (I'm calculating 28,400)
    Money factor is 0.00139 or 3.34% w/ Tier 1 credit
    Residual 17,623 at 52%
    Showing a payment of 378.80 w/o taxes (I'm calculating a 363. Payment by these numbers but I'm new to this)

    I feel like this money factor is high for tier 1 credit. Anyone have any thoughts on the money factor & this deal in particular. Thanks
  • steverstever Guest Posts: 52,457
    Are you an active duty member of the U.S. military in the process of shopping for a new or used car? A news reporter is interested in talking with you. Please contact [email protected] by June 30, 2012.
  • dps06dps06 Member Posts: 89
    Carman,

    Do you have the lease rate and lease cash for the Equinox LS and 1LT AWD for 24 months with 15k miles per year?

    I understand that the LS model has $500 lease bonus cash?

    Thanks
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hey dps06. Ally's current base lease rate and residual value for a 24-month lease of a 2012 Chevrolet Equinox LS AWD with 15,000 miles per year are 1.0% and 58%, respectively.

    The numbers for an otherwise identical lease of a 2012 Equinox 1LT AWD are 1.0% and 56%.

    GM is currently providing a $2,400 cash incentive on 24-month leases of 4-cylinder Equinox models and $2,900 on V6 Equinox models through Ally.

    You're right, there is an additional $500 on LS models.

    Car_man
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  • fuelcellguyfuelcellguy Member Posts: 28
    Carman,
    I was wondering if you could let me know who has the best lease numbers, Ally, US Bank or GM Financial for a 2012 Equinox LS AWD 4Cyl 36 or 39 months 15k miles/year in Rochester, NY? I see what you have been posting for Ally, but not for the others. I have a dealership that is telling me GM Financial is the best, but wanted to make sure.
    It looks like there is a lot of bonus cash available...ie, $500 for LS models, $1000 for lease conquest and I was told another $500 for people with high Tier credit. Are all of these available from each of these banks? Hopefully I am not looking for too much info, I just wish there was a place to get this info rather than having to bother you.
  • padegttljrpadegttljr Member Posts: 1
    Hi, can anyone help with the July 2012 lease numbers on an LS and LT w/ 12k miles?

    Thanks!
  • rugratncrugratnc Member Posts: 10
    I'm getting ready to do a lease on a LTZ for 12,000 miles and 36 months. The residual is 58% and the money factor is .00180 or 4.32%. I know the residuals will probably be different on the LS and LT. Right now the monthly rate for me will be $412 with no money down.
  • allamsieallamsie Member Posts: 1
    Greetings,

    I have recently started a data gather on leasing a 2012 Chevy Equinox and am glad I found this forum! Good stuff here :)

    Here is the deal:

    2012 Equinox AWD LS
    2.4L, 4CYL W/ VVT
    Trans 6 SPD AUTO, AWD HD

    Standard Equipment

    Interior (I am told it has a little more than the bare bones model)
    seat adjuster
    lumbar
    pwr windows
    bluetooth
    c. control
    am/fm, cd/mp3

    MSRP- 26,105.00
    SVP- 25,280
    TVP- 26,105

    Here is the 1st deal on the table:

    1995 down, 36mo term, 10k per year== $295 per month
    1995 down, 39mo term, 10k per year== $287 per month

    I am not really in a rush to do the deal, but would like to see what folks think about this as its the 1st deal collected.

    With thanks and kind regards,

    Al
  • skornskorn Member Posts: 4
    Hi, can you please give me the money factor and residual on a 2013 Equinox 4 cylinder, AWD 2LT. 36 months, 12,000 miles? Thanks!
  • skornskorn Member Posts: 4
    Scratch the above, can you please give me the money factor and residual on a 2013 Equinox 6 cylinder, AWD 2LT. 36 months, 12,000 miles? Thanks!

    I mistakenly put 4 cylinder, but am looking for the 6 cylinder numbers. Thank you.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Certainly skorn. Ally's October base lease rate and residual value for a 36-month lease of any 2013 Chevrolet Equinox with 12,000 miles per year are 2.41% and 60%.

    When negotiating your deal on this truck, make sure to take advantage of the $550 cash incentive that is currently available on 36-month leases of it through Ally.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Whew...good thing they're all the same ;) .

    Car_man
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  • dylrexdylrex Member Posts: 80
    Hello Car_man.

    Can you please provide me with Ally's December base lease rate and residual value for a 36-month lease of a 2013 Chevrolet Equinox LS with 15k miles a year?

    Are there currently any incentives on this vehicle?

    Thank you!

    Tim
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Here's the information that you're looking for, Tim. Ally's December base lease rate and residual value for a 36-month lease of a 2013 Chevrolet Equinox LS 4WD with 15,000 miles per year are 1.58% and 58%.

    There is a $500 cash incentive on leases of this truck through Ally.

    Car_man
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  • eagajanyaneagajanyan Member Posts: 12
    Negotiating a lease MSRP 28.5K on 2013 Equinox 1LT w/ v6. 36 months lease 1K drive-off, 10k/yr with 1k nonGM lease incentive, monthly payment 233 tax included. what you think. Thank you.
  • mdr4mdr4 Member Posts: 2
    Can you tell me the lease rates on a 2013 chevy equinox ltz.
    Msrp. 33175
    Fwd. 2.4l engine. Includes nav, cargo mats.
    Deal I have is 0 down. 0 drive offs. 392 + tax month.
    Not sure if this is any good.

    Please let me know
  • mdr4mdr4 Member Posts: 2
    This would be for a 36 month lease... forgot to mention that in the previous post.

    thanks
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi mdr4. Ally's January base lease rate and residual value for a 36-month lease of a 2013 Equinox LTZ AWD with 15,000 miles per year are 1.58% and 58%.

    There is a paltry $150 cash incentive on leases of this truck through Ally. It's better than nothing.

    Car_man
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  • equinoxgequinoxg Member Posts: 8
    edited February 2013
    Hi Carman,
    can you please give me the money factor and residual on a 2013 Equinox 4 cylinder, FWD 1LT. 36 months, 12,000 miles? I am in GA.
    Thanks!
  • equinoxgequinoxg Member Posts: 8
    I think this is a great deal. Can you share if you have any trade-in, your cap cost? Where is the dealer? Thanks.
  • dylrexdylrex Member Posts: 80
    Hi Car_man.
    Can you please provide February's base lease rate and residual value for a 36 and 39-month lease of a 2013 Equinox LS FWD with 12k per year?
    Thank you!!

    Tim
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Here's the information that you're looking for equinoxg. Ally's February base lease rate and residual value for a 36-month lease of a 2013 Equinox 4-cylinder FWD with 12,000 miles per year are 1.58% and 60%.

    There is a $150 cash incentive on leases of this truck through Ally right now. It's not much, but I guess that it's better than nothing.

    Car_man
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  • jpjankojpjanko Member Posts: 3
    I just put money down for the dealer to locate an Equinox lt1 awd. Its a 0 drive off. Now I've seen that sometimes there's a $395 lease end fee. Does gm usually charge this fee. Honda and Ford never did.
  • jpjankojpjanko Member Posts: 3
    Also the dealer claimed that my $1000 gm earnings don't apply $1 for $1 on a lease. So they knocked $15 off the rate. On as 39 month lease shouldn't it be a little over $25 off per month?
  • granulargranular Member Posts: 1
    closing in on a 2013 equinox LT1. $27200 msrp , zero otd, 10k/yr mileage, 36 mos lease $249 tax included.

    trading in 2010 Corolla LE - 5 payments left on a TMCC lease, $11500 payoff
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi jpjanko. Ally runs its leases through a number of different banks. Ally does not charge a disposition aka termination fee on leases.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hey jpjanko. Your GM Card earnings would be used to lower the selling price or capitalized cost of the vehicle that you want to lease. The exact impact upon your payment will depend upon what the other aspects of your lease are. It's not just as simple as dividing $1,000 by 39.

    Car_man
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  • jpjankojpjanko Member Posts: 3
    Ok thanks For the info. The dealer ended up giving another $10/mon off. So they basically gave $25/month off. Also they confirmed no lease end fee.
  • buster6buster6 Member Posts: 132
    edited February 2013
    I wanted to say a big thank you to Car_Man for helping me with several different vehicles this month. I decided on an Equinox and got the following deal.

    LTZ V6 with nav, moon roof and chrome wheels

    MSRP = $36,100

    belonging to a credit union I got the supplier price of $34,803.73

    It also capped my doc fee to $75.00 and credited my first months payment

    2 year lease -12k per year = 72% residual and 3.75 apr

    Rebates total $3918.44 and included

    $2,000 gm card top off (expires tomorrow)
    $1,000 lease conquest
    $600 lease cash
    $318.44 first payment waiver (part of belonging to a credit union)

    all of the above was reduced directly from the cap cost to make the adjusted cap cost

    I paid $1400 up front to include all doc, license plate, lease acc fee and first payment

    adjusted cap cost was $30869.10

    23 additional payments of $291.34 plus $37.10 tax totals $318.44

    lease end value is $26,020

    I also traded my old leased vehicle in and received a generous allowance for it (but kept is all in a separate part of the transaction).

    I feel like a low 300 payment for a $36,000 2 year lease was very fair and love the truck so far.

    GM Financial is the leasing company

    Gm has also done away will all termination charges (the 2500 early fee and disposition fees).

    there was a 3 year option with a much lower interest rate, but the monthly payment was only about 20.00 lower with that so I opted for a 2 year deal. Hope this helps someone out there with their deal.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    You're welcome jpjanko. I'm glad that I was able to help you out. Enjoy your new Equinox.

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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    You're very welcome buster6. Thanks for stopping back to let us know how everything turned out. Wow, it sounds like you got a great deal. $300 per month on 2-year lease of an Equinox is pretty darn attractive. Enjoy your new ride :shades: !

    Car_man
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  • go2snogo2sno Member Posts: 6
    Carman,

    Thanks for the info on the Lacrosse. My wife is also interested in the Equinox LTZ so I am trying to run some numbers on that as well. Same paramaters 36 mos. 15,000 miles.
    Rate & Residual? Any incentives? We are in Mid-Michigan 48603.
  • greg_nygreg_ny Member Posts: 8
    edited March 2013
    Seems like you know a lot on the subject and maybe can help me.
    I'm looking to get 36 months lease from my local (NYC) GM dealer on 6 cyl. 2013 Equinox 1LT
    MSRP $27500 10 or 12K/year
    Can you provide money factor & residual ?
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    You're welcome go2sno. Ally's current base lease rate and residual value for a 36-month lease of a 2013 Chevrolet Equinox LTZ AWD with 15,000 miles per year are 2.14% and 58%.

    General Motors is currently providing a $925 cash incentive on 36-month leases of this truck. It's waiving the first monthly payment as well.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Thanks greg_ny. The numbers are the same for all Equinox trim levels. Please see my previous post for the information that you're looking for.

    The residual values for a lease with 12,000 miles per year are 2% higher. The 10k residuals are 3% higher.

    Car_man
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  • greg_nygreg_ny Member Posts: 8
    thanks car_man
  • go2snogo2sno Member Posts: 6
    Thanks Car_man this is extremely helpful. I have two final questions.

    1. I'm eligible for GM employee discount pricing (my father is a retiree) so it appears that I may be eligible for the $1,000 EVA. Would the $1,000 be in lieu of the $925 cash incentive from Ally or in addition to it?

    2. Also there is $500 fuel economy bonus cash available. Does that apply only to a buy or would it be applicable on the 36/15,000 lease to reduce cap cost?
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