Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
2013 and earlier Chevrolet Equinox Lease Questions
Ask your Chevy Equinox lease questions here!!
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
0
This discussion has been closed.
Comments
I can't find any GM lease deals on the web...don't they lease or are the residuals so low leasing isn't attractive?
Thanks for the reply...
Car_man
Host
Smart Shopper / Prices Paid Forums
Car_man
Host
Smart Shopper / Prices Paid Forums
"LS" FWD with 16" ALUMINUM wheels & head curtain side impact air bags (sandstone metallic)
27 month lease with no money down $266 per month do to great promotions from CHEVY.
Does Chevy change programs monthly?
Are there featured money factors and lease periods?
The incentives page speaks about customer cash, which would reduce capital cost, but are there some GM products with programs that are more favorable than others?
I would probably be looking for 30 or 36 months and 15,000 per mile. Might consider 12,000 but would need to know the over mileage penalty.
Thanks Carman and, now, Kfdx. You were both helpful with my last lease and I am happy you are still a resource.
Car_man
Host
Smart Shopper / Prices Paid Forums
2006 Chevy Equinox LS
MSRP: $22,385
Selling price: $19,193.20
Term: 36 or 48 months.
Thanks!!!
Car_man
Host
Prices Paid Forums
Based on your last response, I think my lease deal is "in-line" with what it should be...just thought I'd throw this out there for your review:
Equinox LT FWD
Sticker: $23,114.37
Cost Reduction: $4,014.67
Red Cap Cost: $19,099.70
Zero down, 39 month lease at 10K miles per year
Montly payment: $256.36 (including tax)
Signed lease on July 4th.
I was told the rate was 7.25% (I thought this was high but I didn't run a credit check before, so I don't know what my current score is).
Thanks!
In your post you mentioned this truck's sticker price and a "cost reduction". Is the "cost reduction" that you mentioned a dealer discount or is it a down payment that you are making? I ask because you need to make sure that you are getting a discount on this truck. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them.
Car_man
Host
Prices Paid Forums
We did not make a down payment, so what is listed as "cost reduction" was comming from the dealer.
I specifically asked the finance guy about the 7.25 and he responded that he can't control the number (rate) that GMAC is offering. I know that as of last year (because we took out a home equity loan), my score was around 700. There was no mention of the rate when we signed the agreement...it was only after I looked it over the next day and called the dealer, did he say the rate wat 7.25. I know, I should have asked at the time we signed...but I also should have found a sitter for my kids!!!
The other interesting factor (although I don't know how this affects the rate, if at all) was that I had a trade, which we owed nothing on, and they gave us $10K for it (check). I didn't use this as a down payment, I wanted the cash because we planned on leasing from the start.
Shouldn't having enough "cash on hand" to pay for the entire lease, at the time of the agreement, help me in the rate I qualify for?
I guess it's all moot now, right?
Thanks for your help.
Car_man
Host
Prices Paid Forum
Thanks!
I just got home from the dealer with my '06 2LT AWD. The MSRP was $27510. They were actually trying to get $24,500. for it when I talked about straight financing. Then through much discussion I found out that the GMAC SmartBuy has different incentives than Leasing or just buying. The total incentives to use SmartBuy were $4650! Now SmartBuy is not a very attractive program the way they intend for you to use it, but I picked up on one thing: there is no penalty for early payoff. As soon as I get the first payment of SmartBuy I'm paying it off in full from my local bank. I still have that little part of me that wonders how easy this will be to pull off, but I made it quite clear to the dealer what I intended to do and they agreed that I can do it. Also I found the places on the document that said about no penalty before I signed. I'll write back after everything clears next month.
I would like to lease an '07 Equinox LT with the following equipment added to the standard items: sunroof, am/fm 6 cd in-dash changer, Pioneer premium 7 speaker system, and a remote starter. When I build that car with those items added, I get a MSRP of $25,115 and an invoice price of $23,281. My question is: approximately what would my lease payments be if I put no money down and rolled the tax and other charges (not DMV, of course) in as well. I don't want any out-of-pocket expense except the first month and the DMV charges.
I was in a Chevy dealership today and they gave me a rough quote of over $400 which seems ridiculously high to me. The salesman said I could have gotten an '06 LAST month for around $275 -$300, which is about what I'd like to pay. However he says since the '07's just came out, there are no attractive lease options.
Is this true? And if so, how long is it usually before the new attractive lease options will come out? He said to try back (or he would contact me) in a month or two, but my GMAC lease is up in October. I don't know if I should extend my present lease for a month or two, or go get a Ford Escape which I should be able to get out around $300 - $330. I do like the Equinox better.
Help!
Magooley
Car_man
Host
Prices Paid Forum
Can you please tell me what the current residual and money factor is on a 2007 Equinox LT1 AWD - also is there any lease assistance from Chevy?
Thanks Quinto
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
2014 Buick Enclave Premium Edition
Can you help me with lease rates and residuals, and perhaps leasing cash, on 2008 Equinox.
Looking at 36-39 months I would guess and 12,000 per year.
I basically just want to go into the dealer and say, "If you can give me the car for $XXX per month including taxes, consider it done." And if not, I'll walk out the door. I just need to figure out how much $XXX should be.
BTW, I can get a family discount b/c someone in my immediate family worked for GM for 30+ years. Plus, I have a GM Card with a flyer stating that I can get $3000 earnings top-off (I have $2800 earnings) off select vehicles (Equinox is on the list) in January. How can I figure out what the best monthly payment is based on all of this?
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
I understand one can get a vehicle for quite a bit under invoice if one knows what to say and knows the right numbers. I just want to be as informed a consumer as possible rather than waste our money needlessly.
Thanks for your help, car man. I really appreciate it.
I can give you an even more accurate estimate of these trucks' lease payments if you let me know that their actual selling prices are.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Thanks~!!
Background
My lease ends in March 2008 on my 2005 Chevy Equinox. Mileage allowance for the lease term is 36K and currently there are 34K. The agreed upon value of the vehicle was $24,169.50 and I put $3K down. The residual value is $15217.90 and in March I will have paid a total of $11,192.90 to drive the vehicle the last 3 years.
Currently
I am looking at either financing or leasing a new 2008 Equinox LTZ. My father (co-lessee) on my 2005 Equinox is very interested in purchasing it at the end of my lease to drive back and forth to work as he drives 82 miles round trip a day and lives in the mountains west of Denver and let's just say the AWD Equinox rocks in the snow!
Confusion
GMAC is saying that in March we can purchase the vehicle for $17,130.32. How is this possible? The blue book value of the car in excellent condition is $14,500 and if you look in the paper there are a number of 2005 Equinox's for sale with less miles than mine and they are priced anywhere between $13,500 - $14500,
Question
How is it that if I purchase it at the end of the lease it will cost $17,130? They won't sell it as a used car for that much. So what drop it off at a dealership and return it and then what turn around and tell the dealership that I want to buy it back, it seems to me that way would be cheaper than purchasing it at the price stated on my lease agreement.
Is the purchase price at the time of the lease negotiable?
Sorry if this is confusing my hopes are that the more information I provide the better someone will be able to help me understand what my options are at the end of my lease next month.
Thanks in advance-
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
If you determine that this is an attractive selling price, then turn your attention to how you will pay for it. If you want to finance, pay attention to the interest rate that you are being charged, not the monthly payment. The lower the interest rate is, the lower your payment will be. It's usually a good idea to get pre-approved to finance any vehicle that you want to purchase prior to discussing financing with dealers. Doing so serves two purposes. It gives you an idea of what sort of interest rate you qualify for and it often motivates dealers to try to beat the rate that you are pre-approved at.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
The US Bank program has $280 lease cash available through it, but there is no lease cash available on GMAC leases.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
What is "Lease Cash"? And do you happen to know if the governments tax credit on new cars purchased in 2009 applies to leased vehicles?
That's a good question about the tax credit. It might apply to leased vehicles, but they technically are in the bank's name not yours. Hmmmm, I think that an accountant would be more qualified than myself to answer that one. The FAQ section for this program (link) on the IRS site doesn't even address this issue.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
There is an article on GM getting back into leasing dated Aug 10th or 11th byTim Higins of the Detroit Free Press. The 2010 Equinox was listed amoung the models.
I test drove a 2010 4cyl AWD LT1 and think they have a real winner if it holds up in reliability and quality. I have GM Card money that I would like to apply to an Equinox lease if it is attractive. The 2010 Equinox competes against the Honda CR-V and Toyota Rav-4 which have attractive leases recently. If GM puts out an attractiive lease I think they can convert the Honda and Toyota customers if the Equinox is as good as it appears.
Don Mc
The last time that I checked, GMAC added 3% to its 15,000 mile per year residual values for leases with only 12,000 miles per year.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Can you please give me the lease pricing on a 2010 equinox LT1 with AWD msrp $26500, gms pricing of $24500 with 0 down, 39m at 12k miles please? Thank you so much!
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum