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?
Selling Price: $51459
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
Residual is 55%
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.
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.