23 Chevy Traverse

Ask the Hackrs
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1

I have received two deals for a 23 Chevy traverse. Given the rate hike, the prices are much higher than when I leased my last car in 20 ($374 / month). Looking for guidance on negotiating. Handing in previous lease / 4k miles under

Option 1: 3LT = $47,785 = $587 / month (1LT cloth + leather = $553 (36 months), 1LT cloth = $490 (36 months))

  • Rate = 5.16
  • Residual = 55%
  • 39 month / 12k miles / $2k down
  • MF = .0025
  • $3,500 in cash rebates

Option 2: 1LT cloth = $517 / month

  • Rate = 6.53%
  • Residual = 58%
  • 39 month / 12k / 2k down
  • MF = .00272
  • $3,500 in cash rebates
2

Do you have any equity in your lease return?

You need to look at MSRP vs selling price. I see one price listed for each.

3

The equity is $2k on the return.

They ran these numbers based on the $47k sale price that includes $3795 in options, which I’m asking them to remove. The MSRP is $42,740.

4

Is the $2k what the dealer is willing to give you? Is that the actual amount of equity?

What are the $3,795 in “options”?

5

Please post your best attempt at a calculator.

Is the $3800 in options dealer add ons? Are they not giving you any discount off of MSRP prior to the rebates? And is the $2K “down” cap cost reduction or DAS?

What car are you turning in?

7

There’s almost certainly more going on here than a higher money factor.

For example :point_down:

If my instincts are correct, there’s probably no purpose in wasting any more time with this dealer.

(And we’re relieved that you came by to ask first!! :slight_smile: )

1 Like
8

I suspect this will be the case, as well…

9

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