2018 Chevrolet Equinox FWD LT $180 24months x 10k (MSRP 28K)

Ask the Hackrs
1

Last week, I started a thread on the 2018 Buick Encore. Got some good numbers on it and thanks to the regular members, learned about Equinox LT deal (thanks to @Fausterion, @Mort, and @adamcar, @ElectricEliminator) and since it’s a new vehicle making this new thread and I’m about to close the deal

Got this offer over the email:

2018 Equinox FWD LT
MSRP $27895.00
flex cash $1500
Conquest $2500
supplier educator discount $378.21
Residual $18689.65
money factor 0.001980
DOC fee $399
Bank fee $650
DMV $349.00
Security registration $485
Approx tax $705
Sign and drive for 24 months is 23 payments of $187.25 - Deal A

This deal is TU’d by both Chevy experts here @ChevyPhil and @chevysalesgirl (thank you!) and late in the day, instead of $187 (msrp 27895, rebate 4371, my 0.001980), I got a $180 monthly (msrp 27910, sale price: 19800, rebates 6250, mf 0.00122) (calling it Deal B) which I’ll be signing tomorrow pending no storm here. Have it on paper so it’s all good to go.

Both deals are true 0 sign and drive, 24months x 10k miles. Not a penny out of pocket with 180 or 187.

My only confusion is why MF is different at the two dealerships and if it is typical play, then how much more room do I have to play with the MF.

This deal is in NJ (sales tax 6.625), I have non gm lease and an educator.

Let me know what do you guys think and if you want replicate the deal or got a better deal.

I’ll try to get these numbers in LH CALCULATOR to see the LH score but if someone wants to take a stab, feel free!

2

I roughed it out on the LH Calculator, 12 yrs or so. Looks very good. BTW - we have a :snowman:️ snowday! here in North Jersey, so u may be able to run down and lock it in before the snow sticks.

3

The base MF is .00123 for 24 months and .00107 for 36 months.
They marking it up.
Have them run it with the $650 lease fee waived and add .00075 to the MF, might be cheaper, especially if they stop marking it up in the first place.

4

Thank you @adamcar! So it looks like the Deal B is giving me the accurate MF

5

Is the sale price (dealer price) $26,050? What else is in the $6,250 rebate? I qualify for conquest and my total rebate was $4,7450. See below for deal I received from dealership. MF was marked up but I told them I had excellent credit. With excellent credit, they said that would save me an additional $25. Monthly payment under $300 but not close to your deal. Is the only difference between our deals higher MSRP and higher rebate? LMK if I am missing something.

_The Equinox LT with the confidence and convenience package would lease for $319.00 for 24 months and $291.00 for 36 months.(including tax). This with just fees down and 15,000 miles per year with the conquest rebate and discount. _
The rebate on the Equinox is $4,750.00, selling price is $27,998.00, money factor is .00223 for 24 months and .00207 for 36 months. Residual value is $19,331.00 for 24 months and $16,654.40 for 36 months. This is based on an MSRP of $29,740.00.

1 Like
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Clearly, these numbers are way off. I got educator discount but having worked with a few dealers, its only about $300-$700 - every dealer has given me a different educator discount.

I posted all the numbers, I got so I guess you can try working out on the lh calculator and do the math to get to the sale price.

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Did u create an account and build a similar vehicle? That tells you the educator discount. (Suggested) not all dealers participate
https://www.gmeducatordiscount.com/

8

I did but even without my creating, the dealer offered …$387.21 seems to be the standard educator discount.

All they ask is the valid ID proof showing you are an educator.

9

Trishia (ChevySalesGirl) gives a discount of $500 for any of military/educator/supplier/college. They basically all get the same.

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Did you sign?
Care to PM the name of the $187 and $180 dealer? I would appreciate it as I am looking to lock this deal in before the weekend and that way I know who is willing to play ball. I am in North Jersey with a non GM lease ending in two weeks. I have been hunting around for rock bottom lease on a basic people mover for 24mo and this fit the bill. Android/Apple, HID lights in the LT trim are nice touches.

My wife is an educator, would that work or would the car have to be in her name?

Didn’t think I’d end up with a Chevy but the way these deals come and go, you just never know what you’ll be leasing next.

When you work this backward to try to get at the monthly without fees/docs rolled in, does it get close to the advertised $84 per month price I see on weekly circulars from a bunch of Paramus area dealers?

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You might also want to look into a GMC terrain. It’s the same exact vehicle with some slight upgrades and a couple less mpg.

A socal dealer has a special on those for $160 sign and drive.

12

Thanks for replying.

I am nowhere near SoCal, the home of great lease deals. NJ here.
I do like the look of the Terrain better but that vehicle has much higher MSRP, by that logic I wasn’t even going to bother seeing as how the rebates for both were somewhat comparable.

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Behold! $129/month, 0 down. Jersey appears to have better GM leases than us over in socal for once.

Buick/GMC has better incentives right now than Chevy, just make sure the dealer isn’t pulling a bait and switch.:wink:

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$650 due at signing and possibly other fees

15

Yeah, but it’s a fairly well equipped $36k msrp model, I have no idea how they’re not losing money on this.

Terrain appears to have $6k of incentives vs $3k for equinox, even with its higher price the deals are better.

16

So here is the breakdown of my numbers. You can create your own worksheet based on the following. My only hunch is the MF, dealer doc, DMV fee and the security registration.

Even without touching the MF (which is high!) if dealer makes the dealer doc to 80, which is pretty standard also, 0 the sec. registration (I’ve not seen it at several places), DMV fee is $118 officially, I will be looking at $140 per month!

My question is do I have room to push the dealer to alter these components?

A MSRP 27895
B Educator Discount 387.21
C Discount off MSRP 7.31% 2037.800045
D Capitalized Cost (A-B-C) 25469.98995
E Rebates 6250
F Vehicle Price (Net Capital Cost) (D-E) 19219.98995
G RV (67% off #A: MSRP) 67.00% 18689.65
H Monthly Depreciation (F-G)/24 22.09749811
I Money Factor 0.00198
J Monthly Fin. Charge (F+G)*MF 75.06108711
K Total Lease Charge (H+J) 97.15858522
L Total Lease Charge w Taxes 1.06625 103.5953415
M Dealer Doc 399
N Acquisition 650
O DMV 349
P Security Registration 485
Q Tax, Tags, Title, Sec.R (M+N+O+P) 1883
R #Q Taxed (over 24months) 1.06625 2007.74875
S #Q Taxed per month (#R/24) 83.65619792
T TOTAL LEASE MONTHLY (L + S) 187.25

Can you pl weigh in for if I do have a room for negotiating the dealer doc, dmv and sec. registration fees?

Thanks!

17

This GMC Terrain ad implies you can combine the $3,000 conquest and $1,500 competitive lease - does anyone know if this is true? Typically these type of programs are one or the other.

18

Think the taxes are wrong. FYI my wifes E300 NJ Tax was $1190.44 on $16,8 in payments

19

DMV should be higher. Was about $200 on our 2016 Equinox lease that was 24 months. $252 on our 2018 for 36 months. The $118 you are quoting doesn’t include the $85 NJ title fee

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It’s one or the other