We bought 2018 Buick Encore Preferred 24 months 24K miles - its an exec demo with under 5K miles on it - never-titled/New, Full manufacturer warranty, and the standard 2-free services still applicable. We chose to do Full-Pay of $2449 (instead of approximate total of $2800 divided into 24 equal monthly payments; OnePay reduced Money Factor by some, saved about $250 on interest/rent-cost)
If you decide to go with high miles, 15K miles/year – Encore is one of the best ones to lease. Residual drops only by 1% (from 0.63 to 0.62); adds approximately $10 a month. We don’t drive much our second/third cars, so we chose 12K miles/year option (guess 10K/year is a bit too close for our comfort level)
We were told GAP insurance is included/built-in to the Buick leases, that is the good part.
Caution with OnePay/FullPay with GM/Buick: From what we were advised - Buick/GM’s financial may eat any remainder of OnePay amounts if there is a vehicle Total incident. Most of the other luxury car-makers return prorated amount based on remaining months upon such events., NOT thus so with GM/Buick – you ought to take chances. Given that our amount is such a small amount, good/defensive/safe driving, we chose to accept this minimal calculated risk, especially considering our great Insurance carrier/coverage.
If we went with non-exec demo, we expect to pay an additional $1250 more (guessing)
The following Lease Calculator numbers are slightly nudged to reflect as close to actual numbers.
Year, Make, Model, and Trim: [2018 Buick Encore preferred front drive, MSRP]
MSRP: [$25,395]
Selling Price: [$22,920] (about 10% discount) <-- we qualified for GM Supplier discount, you be surprised how many companies are eligible;
Rebates: $8000 [do not recall all rebates, we could definitely see about 5 of those discounts applied, no college/recent-grad discount though]
Trade-in: [$0]
Months: [24]
Annual Mileage: [12,000]
MF: .00098 <-- ball-park number to meet leasecalc (actual is 0.00079 believe), this came down from 0.00131 (?) due to OnePay
Residual: [.63] <-- if we were to chose 15K miles/year, its only 0.62 residual, not much drop – would add about $10/month …
Security Deposit: [$0] <-- we did OnePay
Drive-off: [$2449.00]
Monthly Payment (incl. tax): [$0] Onepay <-- OnePay drive-off $449.00
Sales Tax Rate: [6.25] <-- on Cap cost minus $8K rebates: $922
Leasehackr Score: [19 years] (based on zero drive off/monthly expected payments of $102/month; but we chose to do one-pay option instead, hence $2449)
Total Lease Cost: [$2449] (plus any Future disposition fees at the end)
This is at renowned family dealerships near Dallas Love Field airport. Great team of folks to work with including Ms. Vivian.
One word of wisdom - Do definitely check-out GM supplier discount program, many large companies, and most auto related companies should be eligible (may be your spouse, may be your School-district, may be some of the banks/credit-unions you may be member of). This saved about $400 total, about $18/month, not a great amount as such, but hey - when is the last time any of your buds paid your $400 party bill or two !?
In TX, the sales tax applies on adjusted Cap-Cost (ie: cap-cost minus rebates). this need to be paid in-full. GM doesn’t have enough Sales Tax credits to give away in TX, those Credits are saved for pushing the pricier Cadillacs! Worse yet, many of other luxury manufacturers waive Sales-Tax, if you go with OnePay lease. Also, Lexus cuts money-factors to near-zero (0.00001 or something), further reducing Total-Owed compared to the usual monthly payments lease. Buick/GM only reduced money factor some, I suppose 0.00050 reduction, but not-all-the-way-down to MF of 0.00001 like Lexus does (in-addition to Sales Tax credits/waiver by Lexus FS, seeet!)
FYI - for detail oriented folks: when we’ve take out Taxes/Fees and Interest/Rent-charges, only $538 was depreciation+lease costs on this 2 year 24K lease.
