I see theres lots of good Chevy deals. I’m having a hard time finding out the incentives on a traverse. You can use the private offer or lease offer for $1500 off. Then there’s a $750 GM Financial Support and another $750 offer, I think the incremental bonus cash offer.
So $3000 in incentives.
I’m not sure if there are any VIN specific discounts or other CCRs.
Last do you know the residuals on a 24/36/39 and MF?
2016 Traverse actually looks to be a solid lease…
10,000 miles/year, 1LT, FWD or AWD
24 mo: 68%, .00055 MF
36 mo: 61%, .00065 MF
48 mo: 51%, .00045 MF
$600 CCR lease cash (all)
$750 incremental bonus cash (regional)
$1,500 conquest lease, $1,500 private offer, or $2,500 Volt loyalty (targeted)
$1,000 Bonus Tag (specific VIN)
With an MSRP of $32,100, a selling price of $30,000, acquisition fee of $595, and incentives of $3,850 (assumes $1,500 private offer), that’s $232/month for a 24-month lease or $229/month for a 36-month lease on a Bonus Tag Traverse. Assumes $0 down, 10K/year, and tax not included.
This is probably the least expensive 8-passenger vehicle to lease right now.
Is the $600 CCR the GM Financial Support CCR? A dealer told me there is a $750 GM Financial Support CCR. Or is it some markets $750 vs $600?
The $600 GM Financial CCR lease cash is nationwide.
Perhaps your dealer is referring to a $750 GM incentive that is only available for purchasing, not leasing.
What about the Equinox? I live in Orange County and I have a private offer coupon. Could you help me estimate a payment? I am having an hard time finding the money factor. Also I don’t understand if the 2250 $ total cash allowance shown on the website is applicable to leases. Thanks!!!
Hi there,
The Equinox is an excellent vehicle to lease as well:
2016 Equinox LT
24 mo: 69%, .00070 MF
36 mo: 60%, .00075 MF
$1,300 GM Financial Lease Cash (nationwide)
$1,500 Bonus Tag (specific cars with Bonus Tag only)
$750 Incremental Bonus Customer Cash (regional; available in CA)
Targeted incentive: $1,000 Private Offer, $2,500 Chevrolet Volt Loyalty, OR $1,500 Competitive Lessee Conquest Cash
With an MSRP of $27,345, a selling price of $25,345, and incentives of $4,550 (assumes $1,000 private offer), that’s $130/month for a 24-month lease on a Bonus Tag Equinox. Assumes $0 down, 10K/year, and tax not included.
Drive-off numbers assuming 8% sales tax:
First month’s payment: $140
DMV/registration fees: $265
Document fee: $80
Taxes on incentives, doc fee: $370
TOTAL: $855
This calculation assumes you mark up the MF by .00055 in order to waive the $595 acquisition fee. SUVs like the RAV4 and CR-V will likely cost at least 50% more to lease.
Keep us posted!
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Cool! I’ll try today! How do I mark up the MF to avoid the acquisition fee,do I just ask the finance dept? Thanks!
Yup. It makes no difference to the dealer in terms of profit.
Acquisition Fee Waiver Fee (Optional): $595 customer acquisition fee may be waived
by increasing the money factor fifty five (55) factor points.
Money factor rate + .00055
Example: .00070 + .00055 = .00125
Any regional offers for the Chevy Equinox or GMC Terrain in Texas?
Also, how can I become eligible for the $1000 Private Offer? I currently don’t have a Volt or a competitive lease.
The same rates, residuals, and incentives apply in Texas as in California, with one exception: there’s an additional $1,000 Incremental Bonus Consumer Cash on top of the $750.
That should help to offset some of the tax penalty of leasing a car in Texas, where sales tax is applied on the entire price of the car, rather than just the lease portion.
Folks have reported success getting the $1,000 Private Offer by browsing the Chevrolet.com website (don’t use any pop-up blockers). A reader was able to get it on cars.com as well:
Malibu (Best Case Scenario) Advice Needed
Just came back from my local dealer. No success.
I did not like the experience, even though I made clear that I was looking to get all the rebates we talked about their total never added up…they only offered 2250$ in incentives.
I left saying to get back to me only if they can make it to those 4550$ we talked about.
I did not like the experience they also were not clear about what MF I was getting.
All they came up with is 3000$ cash + 199$ per month for a 2016 Equinox LS with a bonus tag.
Off to the next dealership tomorrow…
The Incremental Bonus Customer Cash in Texas is $1750? Is this true just for the Equinox or the Malibu and Cruze as well?
To anybody interested:
no luck so far in SoCal trying to get a good deal on the Equinox. Dealers seem to pretend that these incentives cannot be stacked up OR they offer 0 dealer discount form MSRP. This is getting frustrating …if you have any contact at Chevrolet who wants to work with me let me know. I’m trying to get an Equinox LS or LT combining the current incentives with my private offer.
I had a couple dealers telling me that the bonus tag for a lease is 500$ NOT 1500$. What do you think about that guys?
Can you tell me what the residual and MF is on 2016 Traverse for 24 months 15,0000 miles per year?
I wish GM incentives were more transparent. I’m seeing Equinox Bonus Tags of either $1,500 or $500 from various websites.
What appears to be the case is that GM is assigning different Bonus Tag amounts depending on whether you lease or buy. It’s $1,500 on cash purchases and $500 on leases. This is different from the Malibu or Cruze Bonus Tags, which do not differentiate between purchases and leases.
We’ll update the article accordingly. Thanks for bringing this to our attention! Lease hacking is difficult because of the information asymmetry between dealers and consumers. Reader contributions help us all tremendously.
See post #2 in this thread.
For a 24-month lease, subtract 2% to go from 10K to 15K. It’s 67%.
For a 36-month lease, subtract 3% to go from 10K to 15K. It’s 57%.
MF and incentives are the same regardless of annual mileage.
In Texas, the Incremental Bonus Cash for Cruze is $700 as opposed to the $1,075 in most states.
In Texas, the Incremental Bonus Cash for Malibu is $900 as opposed to the $575 in most states.
You’re welcome Michael…also Chevy dealers seem to be not the most transparent…at least where I live. So far no luck getting anything costing less than 6000$ over 2 years…not really a sweet deal. I’ll keep trying and keep you posted.
This is the reason most people hate car dealers. They play games. They may or not be lying to you in order to keep some of the incentives. You have to find a real high volume dealer that will be ok making a small margin.