Can’t seem to find many recent comparable for this vehicle. Hoping to hear any feedback from LHers that are familiar with the market for these, and hopefully can provide some insight to how this stacks with the rest.
2021 Chevy Suburban
$66K MSRP (no discount, no markup, being sold at full msrp)
.00153 MF, 56% residual
$2K of rebates, Northern NJ registration
$1070 p/m, $0 out of pocket drive offs
$1k+ for a 66k car just does not seem right. Am wondering if these trucks typically lease crappily.
These are the #s the dealer is offering me, I had to toy around with the dealer fees section to get everything to match up.
One thought experiment worth conducting these days is to assume this is the new normal. Banks are fully aware of just how much consumers are willing to pay to lease cars. Now that that cat is out of the bag, it’s not going back any time soon.
So compare the total cost of:
(A) doing 2 of these leases over the next 6 years. That’s ~$77K.
Versus
(B) buying the car and extending the warranty to 6 years.
I think that’s an excellent pt about the cat being out of the bag.
My thinking here is that most 2019 suburban’s with 36k miles on them are selling for around $50kish.
There is no way this car is going to be worth $37k once the lease is over. Market value might just allow me to justify buying it out.
That being said I’m a bit surprised how there are pretty much no comps for this vehicle on LH, and pretty much none of the brokers have any deal on this either.
We have a few Chevy / GM dealers represented on here and rarely do they mention Suburban / Yukon, etc…mostly b/c of limited inventory, no reason to discount and many reasons to mark up the price. We do occasionally see people come on here asking if their is any way to make a Suburban lease any more economical than it is…almost always the answer is no or maybe use Costco this quarter and hope their is no market adjustment on the sales price. It’ll still be expensive.
Most LH’ers will find a 3 row vehicle that does 90% of what a Suburban / Yukon XL does at 70% of the cost. Obviously value is in the eye of the beholder. It’s a great vehicle and you’ll be riding in style and looking good…it’ll just cost $1000+ per month to do.
Everything above and more. There are other options besides Suburbans/Yukons/Tahoes that are as (if not more) functional and much better value for $, but the minute someone mentions “minivan”, LHers are called sexist, mysogynists, stereotyping male chauvinists (search posts for ‘Karen’)
Frankly, I’d get a minivan right now if I could find one at a price I’d pay
Tahoes, Suburbans, Yukons, Escalades… have always been high demand vehicles, even before the pandemic. They typically do not lease well but also usually outperform the RV, so you wind up with positive equity in the vehicle pretty fast. Honestly you are lucky to find one that isn’t market adjusted above MSRP or with a padded MF.
The reason there are so few GM brokers is there isn’t much extra savings for a broker to extract. The formula here is Supplier Discount + Qualified Rebates – most can achieve this on their own. Also you look at the TCO and not just the upfront costs.
IMO, your deal is already above average for the current market… but even so, looking at the numbers, it would make more sense to finance, if this the vehicle you must have.
Chiming in here. Just bought a 21 suburban last month, and the car is great. If you’re looking for size - this definitely has it. Much nicer then the older models. Only thing I would recommend is trying to get the 360 cam package. Trying to park and move this thing around is tough. I was able to get it at msrp with the additional Costco discount. I decided to purchase as gm is doing 2.49%. I did this while also getting an Infiniti dealer to pay the last 4 payments on my lease. Considering everything this was the way to go.
As you already noted, no brokers here have anything to offer. Most people here also love minivans.
No love for vans here, but $1K/month on a $66k suburban (of all things, forgive me for not residing with the sheep) is absurd. There’s no other way to slice it.
Just piling on the minivan train. Purchased a '21 Sienna Platinum back in July (unfortunately for full MSRP, but we basically had to steal one off the delivery truck to get what we wanted). Best family car we’ve ever owned. I would def consider a suburban for a second car if you need the space.
(search posts for ‘Karen’)
