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2013 and earlier GMC Acadia Lease Questions
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Comments
The lease rate for an otherwise identical lease of an Acadia SLT-2 FWD is the same, but its residual value is 1% lower.
When negotiating your deal, make sure to take advantage of the $2,900 cash incentive that is currently available on leases of this truck through GMAC.
Car_man
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Please see my previous post for information on this truck's April lease program.
Car_man
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Can you please help me better understand $2,900 cash incentive for leases on 2010 Acadias? I'm searching all over the Internet and the only deal that keeps coming up is $2,000 cash back or 0% financing. Where are you seeing the $2,900 cash incentive for leases? It seems like an odd number, is it a combination of two incentives? Also, do you know if GM is offering any additional loyalty incentive (i.e., current GM lessee) toward leases?
Thanks for all your posts!!
Can you please provide the money factor and lease residuals for the following scenarios:
AWD SLT1 - 39/48 months - 15,000 miles per year
AWD SLE - 39/48 months - 15,000 miles per year
I appreciate all your help.
The numbers for an otherwise identical 39 month lease are 0.95% and 38%.
When negotiating your deal on this truck, make sure to take the $2,900 cash incentive that is currently available on leases of it through GMAC into account.
Car_man
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Car_man
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The numbers for an otherwise identical 39 month lease are 0.95% and 40%. This truck's 48 month / 15k numbers are 1.85% and 34%.
If you were to lease one with only 12,000 miles per year, its residual values would be 2% higher.
As I mentioned in previous posts, when negotiating your deal, make sure to take advantage of the $2,900 cash incentive that is currently available on leases of this truck through GMAC.
Car_man
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Car_man
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i got this from a northern NJ dealer. i think it's overpriced and believe i can do alot better. the dealer says good luck.
SLT-1 AWD with no additional options including no nav or rear entertainment
12K miles per yer
$0 cap cost reduction
taxes included
36 mos
$1,000 Down (includes 1st month payment and MV fees)
payment is $645
Residual is 46%
Money Factor is .00040
MSRP is $42,785
Invoice price is $41,196
Your price is $41,696.
thanks alot!
Car_man
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GMAC's May base lease rate and residual value for a 39 month lease of a 2010 GMC Acadia SLE AWD with 15,000 miles per year are 1.55% and 39%, respectively.
The numbers for an otherwise identical 48 month lease are 2.45% and 35%.
Car_man
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GMAC's current base lease rate and residual value for a 36 month lease of a 2010 GMC Acadia SLT1 AWD with 15,000 miles per year are 1.55% and 42%, respectively.
The lease rate for an otherwise identical lease of a '10 Acadia SLT2 AWD is the same, but its residual value is 39%.
Increase the above residual values by 2% for leases with only 12,000 miles per year.
When negotiating your deal, make sure to take advantage of the $3,300 cash incentive that General Motors is currently providing on leases of this truck through GMAC.
Car_man
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39 months, 12k miles. $2500 out of pocket. $643.46 per month
Residual vale 40%, Money factor 1.55% he thinks. I did my math on a lease calculator and I get $608.57. In addition, why is the vehicle valued so low at 40% residual? When the number on here reflect higher? ( I assumed it would be around 42-44%)
Total MSRP = $46,650
Negotiated Price = $40,650
No money down, 36 mo., 12k lease, before tax = $607.81
I'm not sure why dealers would push the US Bank lease over the GMAC lease. Perhaps the US Bank lease results in a slightly better monthly payment.
I'm sure that dealers will try to pocket anything that they can, I certainly would if I was in their situation. The fact that you know about the $3,300 cash incentive on leases puts you in a much stronger bargaining position.
Car_man
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Looking to add the rear set DVD player (drop down, not the headrest version) after the fact.
Is this a good deal?
Thank you so much for any input. My '08 Acadia was just totaled last week and I need to make a quick decision on a replacement vehicle.
36 month
12k miles
MSRP - $48,540
$45,427 (including DMV, deposit, destination)
$43,967 (including destination)
The lease rate for the AWD version of this truck is the same, but the residual value is 1% higher.
I believe that GMAC's residual values for leases with 12,000 miles per year are 2% higher than its 15k residuals.
The $3,300 cash incentive is still available on leases of this model through GMAC, but don't just assume that the dealer will automatically deduct it from your negotiated selling price. Make sure that they take it into account.
Car_man
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There is probably a gap of around $2,600 between its full MSRP and its dealer invoice price. Add the $3,300 cash incentive that General Motors is currently providing on leases of this truck to that and there is a total of around $5,900 to play with during negotiations.
That puts the selling price that you were quoted at around $1,350 over invoice. If I was in the market for an Acadia right now, I personally would shoot for $500 to $1,000 over invoice. It would be in your best interest to comparison shop a little.
Car_man
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Car_man
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We were looking for a 3yr/36k lease for a 2010 SLT-1 AWD black with nav and they said they can't find them but they have them for 2011, but no finance info.
Any info would be great...thanks.
Please feel free to check back with me in a day or two and I will be happy to fill you in on the details of the new program.
Car_man
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Do you have any info on 2011 Acadia programs. I was at the dealer today and he told me that a 2011 Acadia SLT-1 with NAV, RES and Sunroof (MSRP $45,740) would have a residual of 49% and a MF of .00045 on a 39 month/ 12k lease. However, he quoted me $1262 down and $676 a month for the vehicle including all TTL. What do you think? Are there any incentives on the 2011 or holdbacks I should know about? Does the MF and residual sound right to you?
Based on his #'s and a 7.4% sales tax in NJ (MSRP is over 45K) the monthly payment numbers work out to exactly MSRP! Am I missing something? Any help would be appreciated.
Thanks for your help!
Does this deal sound reasonable?
2011 - GMC Acadia SLT-2
MSRP - 49,750
Purchase Price - 47,410 I am told this is invoice
Residual - 48%
Money Factor - .00045
Term - 39 Months/12K miles per year
Sales Tax - 7%
Payment - $684.10
Total Due at Signing - 2019
I appreciate the help.
The dealer I stopped at over the weekend quoted me:
2010 - 40%, .00020, plus $3000 rebate
2011 - 48%, .00045, plus $1000 rebate
Can anyone confirm these are the rates/incentives for July?
I was quoted $484 a month with $2600 first payment/due at signing from two different dealers. The MSRP is $38015 and we have 8% sales tax (on full price not just lease payments). The dealers did not quote me the cap cost, the residual, or the rate/mf yet so I am having a hard time evaluating the deal and knowing how much room I have to negotiate and where.
Thanks
So, the leases I have been quoted are US bank leases with a residual of 44% (actually just a touch under) and a money factor QUOTED to be .00095 for 48 months, 12K miles per year. When I back out the payments (I am a finance professional who is not going to accept their numbers as face) I find that the dealer is jacking up the interest on the lease by about 1.0% to a money factor of .00138. Cute! So, in addition to the few hundred over "invoice" they are also getting a holdback from GM and another $1000+ hidden into the financing. Two different dealers are playing exactly the same game. It seems like they probably have a pretty good idea what the local competition is offering for Internet quotes.
For a GMAC lease on the same car, they are quoting a residual of 41% and a APR interest rate of 4.5% (mf of .00188). Again this is what they are telling me the rate is, not what the rate really is. I did not get a payment quote for the GMAC lease, but I would be surprised if they were not adding the extra $1000 into that one as well. Is the GMAC lease worth the extra money, or is US bank that bad that I should avoid them?
FWIW, both leases include a $1000 GM incentive on 2011's. It seems like they are trying to keep that for themselves by jacking up the interest rate. The 2010's have a larger "cash back" incentive, but the residuals are lower so the payments come out to about the same if you can even find a 2010 you are happy with. It does not seem to make any sense to pay the same amount for a 2010 as a 2011, unless you plan on buying it out at the lower residual in 4 years, and in that case you should think about whether a lease makes sense for your situation.
Just wanted to post this info so others new what to expect and what traps to look out for. I will let you know how successful I am at negotiating the rate back down to .00095 and or getting the purchase price down.
I don't mean to be a wise guy buy when you make a statement like...
"When I back out the payments (I am a finance professional who is not going to accept their numbers as face) I find that the dealer is jacking up the interest on the lease by about 1.0% to a money factor of .00138."
It suggests to me that you might not understand how leases are structured or how payments are calculated. It is extremely unlikely that the dealer would disclose a 0.00095 money factor and then jack it up to 0.00138. That's a real stretch. The part that's especially troubling is the beginning part of your statement...
"When I back out the payments..."
This doesn't make sense. In order to confirm the money factor, one needs to know the payment, adjusted cap, residual value, and the term.
Also, GMAC leases are different than bank leases primarily for two reasons...
(1) GMAC SmartLease uses an interest rate in lieu of a money factor and
(2) GMAC discounts the residual one month nearer to the present causing the payment to inflate slightly. See post #242 at
http://townhall-talk.edmunds.com/direct/view/.f134cca/241#MSG242
if you're interested.
You also stated...
"FWIW, both leases include a $1000 GM incentive on 2011's. It seems like they are trying to keep that for themselves by jacking up the interest rate."
Anyone that knows how to structure leases and compute payments, with spot-on accuracy, would be able to determine this in a heartbeat because they can account for every single penny in a lease. In fact, if you give them a blank lease contract (e.g., GMAC, US Bank), they can easily complete it themselves.
Car shopping can actually be an enjoyable experience provided consumers understand the process and how the financing mechanisms (e.g., leasing) work.
John
So with my Acadia, I had the MF, Residual, and Capitalized Cost, but still could not get my figures to be close to theirs...finnaly, after demanding an explanation, they disclosed a $895 inception fee that was being added to my lease contract as additional capitalized cost! This angered me as from the beginning I explained that I wanted to pay all fees up front.
Now for the icing on the cake...I was trying to get a payment between $550-575 for a basic AWD SLT1, no other options, they have one with the sunroof so the payments are coming in over $600...they came back with a payment under $600, but with an increased upfront cost...they added a capital cost reduction to bring my monthly payment down...hello...?
They also told me the $1000 consumer cash is not avaialble on leases and I believe they are using US Bank to finance the car, not GMAC as my figures match the posts above.
So...does anyone know what the inception fee is for a US bank lease compared to GMAC?
Does anyone know if you CAN use the $1000 cash to consumer that was available if you lease and if you lease from US Bank?
I wan't going to do this all no as i have till 10/15 on my existing Murano lease and I still have plenty of miles...but they were pushing me for month end..well it came and went and now maybe I'll just wait?
General Motors is currently providing a $3,600 cash incentive on leases of the '10 Acadia through GMAC.
Car_man
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You never mentioned the selling price that the dealer is charging you for this truck. That is a very important number to know. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is more difficult to tell how large a dealer discount you are being given. Find out what the selling price is and let us know. I'm sure that either myself or another knowledgeable community member will let you know what they think.
Car_man
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The best safeguard against being taken by dealer BS is to educate yourself about leasing. Learn the vocabulary, learn how to compute payments, learn how to compute sales tax in your state, and understand what happens on both the front-end and back-end of a lease.
A HUGE factor that is often overlooked in lease transactions is the sales tax calculation. On October 1, 2005, New Jersey joined a 22 state coalition and bought into the Streamlined Sales and Use Tax Law. The key points governing sales tax treatment given to motor vehicle leases in New Jersey, under this law, are briefly summarized in the following document
http://www.state.nj.us/treasury/taxation/streamfaqs.shtml
This document describes the two methods for computing sales tax in NJ:
(1) tax rate x manufacturer’s invoice price (Item 7) and;
(2) tax rate x total taxable lease payments; otherwise, known as the total payment
method (Item 8)
Either way, you can roll the tax (finance) into the lease (see below). More than likely, you’ll want to opt for (2- total payment method) as it is usually the cheaper of the two methods.
The best way to illustrate the sales tax calculation methodology and, subsequent lease payment calculation, is to use a concrete example. Because the first method is straight forward, I’ll describe the second using a hypothetical example. What follows is somewhat long-winded, so please hang-in. Consider a lease, originating in NJ, with the following data
Adjusted MSRP . 22,800
Sell Price (S)... . ... 20,000 (negotiated)
Acq. Fee (A) . .. 650 (Acq Fees are taxable in NJ)
Trade Equity (Q)... .. 500 (we’ll assume financed negative equity- NOT taxable in NJ)
Cap reduction (D) ... 600 (assume $600 cash down- taxable in NJ)
Cap reduction: trade credit (T).. 1,000 (assumed trade-in allowance- NOT taxable in NJ)
Money factor (F) . 0.00020 (assumed)
Residual Factor . 0.68 (assumed)
Residual Value (R) . 15,504 (Residual Factor x Adj. MSRP)
Term (N months).... . 36
NJ Sales Tax Rate (t) 7.00% (assumed)
NJ Sales Tax (X)................... _____ (to be computed... see below)
Note that the entire trade-in value of $1,000 is non-taxable in NJ; regardless of the fact that a $1,500 loan balance remains outstanding producing negative equity in the amount of $500.
Taxable Payment = F x (C + R) + (C – R) / 36
For purposes of computing the taxable payment, the adjusted cap cost is...
C = S + A - T - D
= 20,000 + 650 - 1,000 - 600
= 19,050
Taxable Payment = 0.00020 x (19,050 + 15,504) + (19,050 – 15,504) / 36
= 105.41
NJ Sales Tax Payment Liability = X = Total Payment Tax
= (t x N x Taxable Payment)
= (0.07 x 36 x 105.41)
= 265.63
This tax, of course, is due and payable at lease inception. However, if you wish to capitalize it in the lease, the dealer simply adds it as an amount financed and remits the tax to NJ.
The taxable payment is NOT the "lease payment". It's only purpose is to compute tax liability and is, therefore, an intermediate calculation. A CASH down payment of $600 made UPFRONT also triggers an additional sales tax liability in the amount of 0.07 x 600 or $42.
Now, let's compute the LEASE PAYMENT...
The new adj. cap cost is C* = S + A + Q - D + X
= 20,000 + 650 + 500 - 600 + 265.63
= 20,815.63
Lease Payment = 0.00020 x (20,815.63 + 15,504) + (20,815.63 – 15,504) / 36
= 154.81
Observe that I rolled the acquisition fee (A), negative equity (Q), and taxes (X) into the lease payment calculation. Of course, you can elect to pay these upfront if you like. Also, note that the only role that the trade-in value plays, in this example, is to compute the taxable payment. Beyond that, it's irrelevant and is not used to compute the lease payment. This is triggered by the fact that money is still owed (which the dealer pays) on the trade.
Your intitial costs, payable at lease inception, are assumed to be the the 1st payment of $154.81, plus $600 down, plus the $42 tax on the $600 down, plus any required security deposit, plus DMV fees and dealer doc fees. These upfront charges can also be capitalized in the lease as well. Whatever you choose to do, you should be able to account for every fee charged; capped or otherwise. And, all calculations must be spot-on!
You can use the above and apply it to your own situation. For instance, if you don't have a trade or, equity in a trade, simply replace the assigned values above with zero. If you're not putting any cash down, then replace 600 with zero.
The most important items in any lease transaction are the money factor/interest rate and selling price. You should always try to get the buy rate (money factor with 0% dealer profit- reserved only for those with the very best credit) and negotiate the lowest possible sell price. Check Edmunds for invoice price information and scan the posts to see what others are paying in terms of sell price. Also, check overstock at zag.com for competitive sell price information in your area.
The GMAC SmartLease acq fee is $795. Not sure what US Bank's fee is. Unless I'm mistaken, the $1,000 cash incentive applies to a purchase only and must be financed through GMAC. GMAC also uses an interest rate where US Bank uses a money factor. I don't know the current residuals used by either but, more than likely, US Bank uses an ALG residual. What I do know is that, apparently, a number of complaints have been levied against US Bank. To wit...
http://www.consumeraffairs.com/finance/us_bank.html
Questions? Please let me know.
John
PS: Never put money down on a car as it's a depreciating asset. If the car is totaled or stolen and, never recovered, you risk losing a portion or all of your down payment. Down payment means cap reduction and nothing else.
In my case, I knew the cap cost, MSRP, MF and Residual and therefore could figure the payment. Where we were off with the dealer was they hid a $895 aquisition fee into my capitalized cost so their monthly lease payments were higher.
The mistake I made again was letting them quote me on a monthly payment. They gave me the payment I wanted but hid some of the costs to get there.
So, one last question for you...I know NEVER to put down any cap cost reduction out of pocket because of the reasons you stated above, but what about the other costs...Doc Fee, Aquisition Fee, Tire Tax, DMV fees, Tax...should they be added to the capitalized cost too, for the same reason? and then you only pay your first payment when you drive off? The lease I am doing has a MF of .00045 (1.08%) since the intrest is so low might I be better off keeping my cash and paying a higher monthly payment?
The best way to safeguard yourself from hidden fees is to request the dealer's LEASE WORKSHEET. This is a computer generated document that captures all pertinent data including money factor, residual rate, fees (acq fee, doc fee, DMV, etc), taxes, etc. This helps to eliminate confusion or misunderstanding and is a great tool to help you create a one-page lease proposal.
I always capitalize everything in a lease including first payment and security deposit (if one is required). The DMV fee is the only fee I pay upfront. Because of the narrow margin between savings rates and borrowing rates, it seems that the prudent thing to do is conserve your cash by folding the fees into the lease.
Financed fees, of course, increase the lease balance and, therefore, increases the GAP between the lease balance and the ACV (actual cash value) of the vehicle. Because GAP coverage "protects" this GAP in the event the vehicle is totaled or stolen, financing the fees is even more attractive given the narrow spread between borrowing rates and savings rates.
John
Car_man
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GMAC's August base lease rate and residual value for a 39 month lease of a 2010 GMC Acadia SLT1 AWFD with 15,000 miles per year are 2.0% and 40%, respectively with a $3,600 cash incentive.
The numbers for an otherwise identical lease of a 2011 model are 3.0%, 46%, and $1,100.
As you can see, GMAC 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.
Car_man
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When negotiating your deal on this truck, make sure to take advantage of the $1,100 cash incentive that is currently available on leases of it.
Car_man
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