2019 Chevy Traverse High Country

Ask the Hackrs
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1

Hi All-

First time poster to the forum. Thanks for the help in advance. I am looking at leasing a 2019 Traverse (Either Redline or High Country). I need the lease to be 15K miles per year. My sales tax is 7.5% in my country. I plugged in the numbers in the calculator, but still not sure if this a good / bad deal. If it is bad, where should I negotiate it down?

MSRP: $55,575
Selling Price: $51459
Rebate $2250
Govt Fees: $222.50
Proc/Doc Fee: $75
Capitalized Taxes: $1,638.04
Gross Cap Cost: $53,747.04
Adjusted Cap Cost: $51,479.04
Paid By Customer: $1,104.33

$0 down 1st payment + DMV at Signing
36 months @ 15K miles = 724
3.82% MF
Residual is 55%

2

That is absolutely terrible, you can lease a BMW X5 with that payment.

3

$724/mo? No thank you, you need 10% off before incentives, I’m pretty sure GM uses money factors, double check that on edmunds.

That’s a very pricey Chevy, you might want to shop the other GM variants and see if they lease better(Buick, GMC)

4

This is terrible

5

The money factor is actually: .001592
I don’t have a lot of options as I need captains chairs and bench seat that fits 3 in rear.

6

Thank you. I appreciate the feedback, my history has always been purchasing and that is a little easier for me to navigate.

7

A nice atlas will save you money
Volvo XC90 is less expensive and much nicer
Highlander xle is half the price

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8

You forgot MDX, you should know this :smile:

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9

Yeah ditto on the highlander, that’s the deal right now. Take a nice vacation every year with the cash you’ll save

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10

Atlas seems to have two distinct seats in the back and so does the Volvo, but I like the Volvo a lot. Highlander - I will need to check it out.

BTW - This forum is great and the advice and time people give can save a lot of headaches and expense down the road.

11

This vehicle is basically unleasable: You’re not going to get more than 10-12% off on a GM, there are almost no rebates and MF is high.

GM also varies rebates/MF/RV by trim level. If you’re set on GM, you need to find out the rebates/MF/residual for every single Traverse and Acadia trim.

12

Is a money factor of .001592 high or is that respectable? I thought anything around the .0015 would be reasonable.

13

Because you’re conflating MF and rent charge with APR, these are two different things. Unlike APR on a loan, the rent charge on a lease is constant and does not decrease with principal.

The rent charge is (net cap + residual) * MF, so $130/mo just in “financing” or $4702 over the life of the lease.

IMO, .001592 is very high for a GM product where they routinely offer 0% financing on new or 1.9% on CPO. I would guess that the MF is far less than that on different Traverse trims. You need to go to edmunds to confirm or ask your local dealer. Like I said, this is Step #1 in GM lease hacking - rebates, RV, MF for every single trim level. You may find that a loaded up LT or Premier is far less expensive to lease than a High Country.

Not that I would EVER recommend purchasing a GM product, but on a top trim Traverse with these crappy lease numbers it makes way more sense to buy CPO.

https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=519421097&zip=48114&referrer=%2Fcars-for-sale%2Fsearchresults.xhtml%3Fzip%3D48114%26listingTypes%3DCERTIFIED%26sortBy%3Drelevance%26incremental%3Dall%26firstRecord%3D0%26marketExtension%3Don%26modelCodeList%3DTRAVERSE%26makeCodeList%3DCHEV%26searchRadius%3D500%26trimCodeList%3DTRAVERSE%257CHigh%2BCountry&listingTypes=CERTIFIED&numRecords=25&firstRecord=0&modelCodeList=TRAVERSE&makeCodeList=CHEV&searchRadius=500&clickType=spotlight

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14

Consider the Hyundai Palisade as it has close to the same cargo space behind the third row and seats three back there. Though the lease deal may not be any better.

I’m new also; please confirm the lease deal I was offered is no good, as I believe to be true:

Chevy Traverse 1LT with driver confidence Package II
MF.00190, 10/24 , Residual 67% , $515/mo, $1000 down
MF.00141, 10/36, Residual 60%, $606/mo, $1000 down

I didn’t qualify for discounts besides Costco. Doc fee was $299, acquisition $650. NJ taxes.

15

Checkout a one pay option, will reduce the rent charge substantially. If you’re set on GM with a high MF, it’s the only way to get to an attractive payment. Obviously, drawback is the fact it’s all due upfront.

16

Yes, but kind of defeats the point of leasing no?

17

If It’s in the budget, just another way to save money on what would otherwise be a very expensive lease. Best (to save $) would be to go where the programs and rv’s are most competitive - Toyota, BMW…

18

Don’t lease a traverse.i own one and after 24 months it’s garbage.