2018 Chevy Equinox for my Parents - Please Help a Learning Newbie :)

Ask the Hackrs
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Hi all! I’ve been lurking around the board for a little while, but this is my first post. I am trying to help my parents lease a car. I am new to this, but I have learned a lot by reading the board.

Based on my parents’ budget, I have been focusing on the 2018 Chevy Equinox LT 1.5L Turbo AWD. I was hoping that some of you pros would be willing to help guide me in the right direction.

From Edmunds, I found that the MF / RV for a 24 month / 10K miles lease based in NJ is 0.00100 and 70%, respectively. The 24 month lease works out better than the 36 month and 39 month leases.

The MSRP of the Equinox I am interested in is approximately $31,610, but my mother is a teacher, so she should qualify for the Educator Discount, which would bring the price to $30,190.15. The invoice on this equinox is $30,603 and the holdback is 3% of the base MSRP, or $919.95. Invoice minus holdback is $29,683.05. So, I think that the Educator Discount is pretty good. If you could please let me know if you disagree, it would be very much appreciated!

Also, Autobytel.com showed the following incentives:

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My sister currently leases a Chevy Equinox and lives in the same house as my parents. So I think my parents will qualify for the loyalty rebate. My parents have a Mazda, so I think that they will also qualify for the conquest rebate. Are these rebates stackable? Do all of the other rebates apply to leases? Are they stackable? I saw reference to DBC coupons elsewhere, what are they?

Any guidance that you could provide, particularly with the rebates (which are pretty unclear in my opinion), would be very much appreciated. I would really like to help my parents as much as possible with this process.

I will be happy to keep everyone posted on how this process goes. Hopefully this will be helpful to others as well!

Tagging some of the Chevy pros:
@chevysalesgirl
@ChevyPhil
@Randy_Haddox1

Thanks everyone,
Rolanam

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Great job with your research, your on point on your analysis of the sales price mf and residual.
Rebates for purchase and lease are completely different and the loyalty/competitive lease rebates arn’t stack-able. Your next step is to get a detailed quote.

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Thanks @ChevyPhil! Much appreciated. Just a quick few additional questions - hope you don’t mind:

  1. There are a number of rebates in the above chart that reference the Loyalty program. There is a $1,000 Chevy Loyalty Program, a $500 GM Loyalty Program, and a $1,500 GM Loyalty Purchase Program. Would my parents only be able to get $1,000 for the Chevy Loyalty, or would they qualify for both the $1,000 Chevy Loyalty and $500 for GM Loyalty ($1,500 in total - not sure if you can combine these). I am assuming that the $1,500 GM Loyalty Purchase Program is only applicable if they are going to buy a car, is that correct? Just to summarize my question, I am trying to figure out how much of a Loyalty Rebate we should be asking for.

  2. Not counting the Loyalty, my understanding is that I should be asking for $5,000 in Rebates ($750 bonus cash + $1,000 GM Incremental CCR + $750 Chevy Select Market CCR + $2,000 Chevy Bonus Cash Program + $500 Consumer Cash Program). Is this correct?

  3. Are there any coupons that I should be asking for? I remember reading about DBC coupons and “IVC” or something along those lines. I’m not sure what these are or how they work.

  4. Is it possible to do better than the Educator discount (prior to rebates) or should I be pretty satisfied at that discount level?

Thanks very much Phil. Really appreciate your help! Wish we were close to your dealership and I would definitely direct my parents to you!

Rolanam

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you shouldn’t need to ask for rebates, they’ll ask you what you qualify for. not giving you rebates you qualify for is the least likley way for them to make money. the things to check on are MF and sales price/ You did a lot of research but now your doing too much. someone will need to sell you a car and they’ll provide you with quote. Or hopefully multiple locations. From them you can check on their quotes but you don’t have enough info yet. Contact a few dealerships if possible. then get back to us with what your offered.

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Thanks @ChevyPhil! I will try to call / email a few dealerships tomorrow and I will report back with what I find out. Really appreciate your help.

Rolanam

1 Like
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Ask @BoardWalkNJ for Chevy dealer recommendations

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Did you read what I wrote in chevy bonus tag leases. I already pretty much did all the ground work for you with sale price . Same car. AWD 1LT with confidence package… They give supplier pricing and spell out Rebates. And I spell out pricing. Any questions ask. Don’t bother boardwalk nj. I already went to Princeton chevy for a quote. Waste of time… I’d be curious who you already contacted and what price you received and rebates. Competitive rebate is higher. Also some people have private offers. Can’t stack competitive or loyalty. Also some of that cash is purchase. Not lease… Please read chevy thread. Unfortunately autobytel.com is not clear on what is what and these chevy folks can’t explain either because the site probably has different region cash… I’ve asked all three a few times.

1 Like
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Here are details

Bob Johnson chevy Rochester. Deal sounds almost too good to be true. 31985 MSRP 28521 sell price. 3250 Rebates 24 months 12k. Everything rolled in 246 a month with 8.375% tax rate. Equinox 1Lt AWD Cajun red. Some how they are not charging me documentation and other fees. Just first Payment drive off. It would be nice to team up with someone to get deal. @coolryans is looking for the same car
3 of us should be able to add some leverage to a deal. I’m looking to sign within 2 weeks as well. I am also going to follow up with a dealership I spoke to management about on Saturday. Salesman had to take off past few days for emergency. If we bring 3 deals to him/ manager maybe they can do it for all of us.

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Did you happen to get some numbers to compare for the rest of us looking?

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is there any non-GM leases in the household? That rebate is larger than loyalty.

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Thanks for the heads up @max_g! I will reach out to @BoardWalkNJ

Rolanam

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Thanks for the info @doomtoall8! It would be great if the three of us could leverage a deal. I will keep you posted on the offers I receive. I’m pretty tied up today, but I will defintely reach out to dealers tomorrow. My parents want to get the car this weekend.

Rolanam

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Hi @chevysalesgirl! My parents currently have a Mazda - so I will definitely try to get the conquest rebate. The rebate info provided on autobytely.com is extremely confusing (see the chart inincluded above). The chart makes it seem as though the loyalty rebate is with more. Why does it show multiple loyalty rebates all at different dollar values? Do you have any specific insight into the particular rebates that are offered in NJ? Trying to make sure that I maximize rebates.

Thanks,
Rolanam

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as long as your parents mazda lease registration matches the same household address of the person who is getting the lease, or they cosign, then you get the competitive lessee rebate.

it is not stackable with loyalty.

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Rolanam,

I seem to maybe have found a salesman who is going to try to come close to the top offer or beat it from Brooklyn. He is going to get back to me. don’t bother with princeton chevy or richard lucas chevy.

Princeton chevy was giving amazing deals in March. I contacted them and their deal is lukewarm.

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Rolanam did you get any quotes?

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Are you guys doing a group buy? I got some quotes from MA and VT for 24/10. The rebates in my area are only $2500 though for conquest and CCR.

Going to talk to Quirk to see if they will actually honor the 4.5k dealer discount which is about 15% off.

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What does that mean? You mean the $2500 conquest is used as CCR?

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$1500 conquest + 1k lease cash

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In NY it’s 1500 conquest. 1000 + 750 market ccr. 3250… Add 1000 for bonus tags but since we are at month end not too many tags left… Most dealers are out…I’m looking 24/12 1lt awd confidence and Cajun RED. Most of the dealerships don’t want to negotiate past supplier price. I gave the details above of the one that did…2 dealers left for me to follow-up with. Wish they would just come back with reasonable counter in the middle. This car is new so they are standing tough for now. Gm cards have bonus on it for this month and next. One dealership ran out of bonus coupons. Ugh…