2018 GMC Terrain SLE $3600 one-pay 24mo/10k (and help needed)

Signed Deals & Tips
1

Need a new car as soon as possible so go to this Terrain or Encore deal. I got a lot of help from @mohbh and @mani_is_kool, want to say big thanks to both of them.

Most of my local dealers are not lease friendly. They only reply emails with something like $300/month with 1500 down payment. They never give any details. At last I found a dealer within two hours drive, who can discuss details like selling price and rebates, and make a deal with them. Maybe not the best deal in this forum, but I am very happy with it as it saved me a lot of time than driving a few hours to St. Louis dealers.

2018 GMC Terrain SLE: With convenient package

MSRP: $30705
Selling Price: $27822
Monthly Payment: $170
Down Payment: $0
Incentives: 8150 (I am not sure about this breakdown, my estimation: 2650 Lease cash+3000 Conquest+750 Selected Market+500 GM supplier+ Some Flex Cash)

Months: 24
Annual Mileage: 10K
MF: 0.00135
Residual: 19651

Leasehackr Score: 25 Years
Pre-filled Calculator link: leasehackr.com/calculator?make=GMC&msrp=30705&sales_price=27822&months=24&mf=.00135&dp=0&doc_fee=698&acq_fee=650&taxed_inc=8150&untaxed_inc=0&rebate=0&resP=64&reg_fee=188&sales_tax=9.25&memo=&monthlyTax_radio=true&miles=10000&msd=0

This is totally $170/month, only the first month due at drive off.
The calculator is for $170 monthly payment, I tried my best to make it close to the numbers from dealer. The dealer have $698 administration fee. I added it in the “document fee” in calculator. I am not sure if it can be negotiated to waive.

At last I decided to do one pay, and dealer told me about $3600 in total, no other information provided. I am not sure about the details but as it is significant lower than 170*24=4080, I did the one pay and got my car back home.

Here is what I need for help:
After getting back to home, I found that the dealer seems didn’t lower money factor for one pay lease. They were still using 0.00135. Here is the numbers from contract and my calculation:
Gross Capitalized Cost: 27822
Capitalized Cost Reduction: 8150
Adjusted Capitalized Cost: 19672
Residual: 19651
Deprecation: 21
Rent Charge: 1273
1273 is the number on contract, my calculation is (19672+19651) * 0.00135 * 24=1275, that’s why I think they didn’t lower my money factor for one pay. The correct amount should be (19672+19651) * 0.00093 * 24=877)

As the lease was signed and I drove my vehicle back home yesterday, Is there anything I can do now? I suppose the dealer are required to lower money factor for one pay lease, but it seems that they didn’t do it for my case. Did them break the lease rule or it is an allowed method to let them make more money?

I am happy for deal overall. Just curious and want to know if I can get my money back (if dealer broke the rules for lease). Thanks for any comments!

2

Dealers are allowed to mark up the mf for profits, if he gave u lesse cash he has to make it back some how. Im glad I could help. Enjoy !

3

When you click the zero drive off box on your calc, you get to within $4 dollars of the original quoted payment.

So you kind of proved the mf did go down because your one pay was lower than 170*24=$4,080 by about $400. That is the amount I get in my excel spreadsheet. I think your are missing something that made the original payment $170.

4

Yes. It is my first time lease so I am happy with it. I got a lot of information from this forum and appreciated the help from you and all other forum members.

5

My original deal is $170 * 24 months. I think zero drive in the calculator is $174 * 23 months. Similar amount, and the calculator amount is not exactly the same as original $170/month deal.

Yes, I didn’t know how the total amount was reduced from 4080 to 3600+ (as they didn’t tell me everything for $170 deal). But these numbers are from my one pay contract. The only way I can get 1273 rent charge is 0.00135 money factor.
Gross Capitalized Cost: 27822
Capitalized Cost Reduction: 8150
Adjusted Capitalized Cost: 19672
Residual: 19651
Deprecation: 21
Rent Charge: 1273

Also, if you click “one pay” in the calculator, the total amount is 3400+. Still less than 3600+.

I guess they have done some markups in the $170/month deal, but removed these markups in the one pay, as they can earn more money from (Not reduced) money factor.

6

Can you let me know which dealer did you get it with ? I am near st Louis

Regards

7

Thats what we are all here for :slight_smile: as a community

8

Glad i could help! Enjoy the car

9

Sure. The dealer is in TN. Will PM you.

10

I am in STL too and struggled with all dealers except Laura Buick/GMC. They were pretty easy to work with and were around 12-13% off MSRP as their first offer. Only issue is they wanted to mark up the MF to .00235 and were loathed to do a one pay lease for Missouri.

Still had a decent deal without any negotiation, 227 a month sign and drive on a FWD SLT MSRP $33,300. I just went over today to finally drive a Terrain and decided I can’t deal with the aggressive and narrow seat bolstering. Way uncomfortable and I’m not really an overly wide guy.

Bummer as I assume they’d be able to get down around what OP got pretty easily.

11

@zzlovezt can you share the name of dealer with me?
I am in Florida and it is hard to find a GM/Buick Dealer .

12

I think you mean SLE not SLT, as SLT ismore expensive and 227/month is very good.
It is not easy to find this local dealer. I send emails to at least 10 dealers and spend a few days to discuss with them. Most of them are not lease deal friendly, as mentioned in my original post.

I think dealer still makes some money in Terrain deal as most part of discount is from GMC rebates (in my deal, dealer got dealer administration fee, Higher MF, commission from GMC, I will think at least $1000). So I will think it is a win-win for both us and dealer to make this Terrain deal, and everyone should be able to find a local dealer to do this deal. You may need more patient to find a good dealer.

13

No, it was a base SLT FWD, MSRP is 33,300 I believe.

Rebates aren’t taxed in MO so that saves us some monthly payment. It was a good deal which is why I’m sad that the front seats are so uncomfortable for me.

14

That’s good deal when considering the 2000 difference in MSRP.
I wish the SLT had adaptive cruise control option then I’d go for a full loaded SLT.

15

how much for a SLT?..

16

The forum doesn’t work like this. You’ve posted comments like this many times and gotten no responses yet you still haven’t learned. There is enough detail here for you to get a good estimate on how much an SLT should be. Don’t be lazy and expect others to spoonfeed information to you.