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Hello Hackers
I’m in Chicago, IL
I have been shopping a suburban and would love some advice.
This seems to be my best quote so far
2021 Suburban RST 4x4 with Luxury package
39M/15K with $1000 due plus new plate
Payment after tax $1,002.00
0.00151 MF
70050 MSRP
residual 55%
Sale price 66469.65 Supplier discount
If you’re in Chicago proper, the tax situation makes leasing a non-starter in my opinion. I wouldn’t even bother.
I’m in the suburbs but still sucks.
From a business/tax perspective leasing makes sense for my line of work.
I definitely know these lease terribly. I need the space as well. Even a Tahoe doesn’t work for my family.
The taxes on a lease in Chicago proper are twice what they are in the suburbs around Chicago.
Look into the Ford Expedition Max and also maybe the Chevy Traverse and VW atlas
Obviously I am not your accountant and you’d need to talk to them but I have found Depreciation and Interest gets me the same benefit for taxes (and sometimes better) than leasing does. Probably worth a conversation with your accountant/tax preparer before jumping.
Hey Hackers
Got some final numbers on this 2021 Suburban RST. I have attached the Net sheet.
The initial offer required I pay the taxes upfront due to being an out of state purchase. I had them then role in the taxes to avoid paying any fees upfront.
I will be paying first month upfront. That is all I am coming to the table with.
Looks like payment will be $1,002 for 15k miles on a 39 month lease.
What I don’t understand is the additional Cap items. I know there are fees but $2,799 in fees seems like a lot.
Any guidance on this?
This is the net sheet with the taxes ($2,899) rolled into the additional cap costs.
You need to ask the dealer what that includes as it’s impossible to tell from this sheet.
Just seems like a heavy payment for a chevy. I am waiting on a fully loaded x5 coming and my MSRP is higher and payment is lower. I know cars/trucks all lease different but still.
The quote sheet says “total add ons” of $1,085… have they broken down what the add ons and fees are? Briefly looking at the laws for Illinois it looks like they can charge about $150 each for title and registration and about $300 for the doc fee. There’s also the acquisition fee which should be $695 if memory serves me correctly. Add those up and you’re pretty close to the numbers you are seeing with the other add ons included.
Need? No one needs a giant truck…remember, the Griswalds got a sweet Family Truckster and took the entire clan including a dead Aunt across the country!
Just speculating here but it looks like; $2799 (Taxes) + $695 (Acquisition fee) + $192 (Plates/Dealer fee) +$1002.29 (First Payment) + $1000 (True Down Payment) = $5688.29. Pass on the true down payment — eliminate any risk of loss. Negotiate that out.
This is about as good as it gets for a Suburban. I’m holding at 5k over in SoCal.
Then you would be insane to ever consider leasing a car, no matter what the brand/model. ~20% tax makes it a non-starter.
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