Leased Sept 2020. Lease ending - no dealer would offer anything decent for a newer truck and the buyout interest sucked. I’m at 25,000 miles so bought it out. No reason to deal with a payment or haggle with another dealership when I can just pay in full. So, now I own her
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Congrats! I added NY as a placeholder tag; please edit to tag your state.
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What a beautiful truck, hope you are enjoying it!
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I am looking leasing GM truck.
If you wouldn’t mind, what was the interest that ‘sucked’ ? Was it higher than you expected? How did your residual stack up against market value? Also, what engine? Any issues?
Thanks.
Even with a damn near perfect credit score, GM financial wanted 6.9%. Other route was a credit union at 5.5%. Couldn’t justify paying that high of a rate. Residual was $36k. This one is a a 5.3 - have no intention on ever towing. Just hit 25k miles on Thanksgiving. Runs well and the ride is great.
This guy just jinxed himself and his Vortec fuel injectors.
Okay, I appreciate it, but what was the value versus the residual? i.e. did you not end up with equity that would have helped with the higher rate? Also, what was the residual as a percentage of your MSRP?
I am looking at leasing a Sierra but I am just curious how they are performing (expected depreciation vs reality).
I appreciate the date and input you have already given me, it is helping me and my decisions.
I wouldn’t go into a lease expecting to have equity at any point right now. Also you definitely cant compare to the depreciation progression of a truck from 2020 considering how much MSRP’s, availability, and interest rates have changed. The strength of the deal is also a big factor that can play into the equation as well.
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