Firstly, please bear with me as I am new to hackr forum. But our family is expanding and I’m looking to lease a Yukon Denali. We’re not new to leasing, but I wanted to do ample research as to what would be considered a good deal. We’re in Louisiana I wanted a ballpark monthly payment of anywhere from $700-$850 with 0 down. I realize that denalis aren’t the most lease-friendly vehicles. But is that price doable? I wanted to go into the dealership with a ballpark idea and neither demand something outlandish nor be had. Thanks for all of the help!
It’s possible but there are a lot of variables - how many months, miles, model/MSRP, location, etc.
I suggest going to Edmunds to get the correct MF, Residual, and incentives for your area and then use the Hackr calculator to figure out the amount of discount you would need to get to your preferred monthly payment. People here can then give you better guidance in the level of discount you can expect to get once you have all the numbers.
I checked on Edmunds and they gave me an MF of .00239 and RV of 55%, and no lease incentives for my zip code. A local dealership website has a 2019 Yukon Denali with an MSRP of $75,125 and a list price for $67,625.
I plugged all of this into the leashackr calculator (with nothing down) and came out with a monthly payment of $1113 for 36/15k and $1073 for 36/12k
I know that we have Tier 1 credit, so should I simply attempt to negotiate down on the sales price? I played around with the calculator and it seems that I need to bring the sales price down to about 61,000 to bring my monthly below $900. Does that seem feasible?
Thank you so much for responding, by the way! I really appreciate it!
Yes, at this point sale price is the only variable to get you within your budget. You don’t have much going for you as the residual is bad, MF is terrible (5.7%) and there are no incentives.
Highly unlikely a dealer is going to give you 20%+ off a popular 2019 car so probably start looking at alternatives. Sometimes there is no possibility of a deal based on numbers set by the manufacturer.
Careful. I just got burned thinking the prices shown on websites will be lease friendly. Multiple dealers jacked the prices up on me once they found out I wanted to lease.
