Year, Make, Model, and Trim: 2017 Chevrolet Traverse AWD 2LT
MSRP: $44,815
Selling Price: $42,608
Rebates: $4,650
Trade-in: [$0]
Months: 39
Annual Mileage: [12,000]
MF: .00087
Residual: $24,200 (54%)
Security Deposit: [$0]
Total Due At Signing: $490
Monthly Payment (incl. tax): $490
Zip Code: 44685
Sales Tax Rate: 6.5%
Is this a good deal? I have a 2012 Ford Edge I am trading in and I owe around $16,700 and they said they were giving me $16,000 for the trade. The numbers seem to add up and make sense but I am brand new to the forum and trying to make sure I didn’t miss something.
Anything over 1% of MSRP in monthly payment is generally regarded as not a deal. .7-.8% is pretty common. That being said some vehicles lease better than others. Make sure the 39mo lease option carries the best payment. Researd incentives and get multiple dealers to compete.
In September 2014 when I leased my 2015 Traverse 2LT, they tried getting me into a 39 month lease. The residual was actually better for the 36 month lease, PLUS I was under factory warranty for the full term of the lease. Although if you go with the 39 months you will only have 3 months of no bumper to bumper coverage, but things do happen.
I also want to say that my R/V was in the 60’s? I just checked my paperwork, and the R/V was 62% I also didn’t go with an AWD but don’t know how much of a difference that made in the value. I did have the leather, navigation, and the extra charge paint color
If you went the 39 months, you would pay $1470.00 just for those extra 3 months more! I bet the 36 isn’t going to cost anywhere near that and like I said, my payment was actually a few dollars less on 36 months.
Check with CarMax and see what your car is worth to them. The Ford lease I did I had the Ford dealer come up with his offer on my Edge after getting a higher value from CarMax. You don’t have to buy anything from CarMax, they buy cars and trucks as part of their business model.
I also had positive equity in my Edge, and I had the Ford dealer keep the deal separate from the lease. I had them cut me a check for the Edge over and above the payoff.
This kept the lease as one transaction, and them buying the Edge as another transaction. Nothing to get lost in figures or payments!
Doesn’t look that good, especially for 39 months. I think you can do much better on the selling price. Also, you should do more research on selling your own vehicle on your own. Take it to Carmax for a quote. Might be a waste of time but it’s an SUV so maybe they will offer more than a Chevy dealer.
We live in NJ. Is a '17 Traverse LS lease for 24 months for $220 including all taxes and fees a good deal? This is our first American car although we usually lease through Toyota.
What is the MSRP of the vehicle? Off the bat, if it is $0 down and no drive-off at all (true sign and drive) $220/mo is a great deal. The Traverse is probably at least $30-32k MSRP (not sure what an LS trim is)
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32k for msrp. the LS is the base model but has what we need. Our only hesitation is we still have our RAV4 for another five months before we turn it in and it’s waaaaay over mileage which Toyota has usually made gone away when we re-lease. If we don’t get another car, I’m afraid of all the charges.
Excess miles on a RAV is $0.15 so $150 for 1,000 miles. It’s not too bad. So it’s either $150/mo on top of your payment or $220/mo for this one (and a little bit of insurance for 5 months) on top of your payment. You can probably turn the RAV in early but you will still owe the payments
Just do the math for yours situation but the Traverse at $220/mo is a great deal. I’m sure a lot of people will ask you for the dealer and where you are at 
