Since my 2016 Buick Encore lease is expiring in 2 weeks I needed to replace it. I went with an online ad from Suburban Buick (Costa Mesa Calif). The deal for a Buick 2018 Encore Preferred was 24-months at $99/month plus drive-offs which includes a $650 “acquisition fee”. I paid another $23 plus tax to up the mileage to 15k/year. My payment with taxes is $132.
I had a rebate credit from my GM credit card of $410 plus they gave me a top-up certificate on the credit card rebates for another $500. The plus-up certificate expires at the end of February which is why I did the deal this weekend. I turned in my 2016 and got the 2018. It was a pretty easy deal.
The monthly payment is $132 [15k miles/year]
The total drive-off to me was $710 [$1620 less my $910 ($410 GM card rebate + $500 certificate)]. The drive offs consisted of ~$300 registration, ~$400 sales tax (on $5200 of rebates), $650 acquisition fee, $132 first month payment, $80 doc fee, $29 electronic transmittal fee, plus a $8.25 tire charge.
My all-in cost/month then is $161/month ( I divide the net drive-offs by the 24 month lease term and add that to my monthly payment).
I know considerably better deals on 2017 Encores have been made. I decided to go forward with this deal before my $500 certificate expired. Plus I was looking at having to pay the $495 deposition fee on my 2016 sans a new GM lease. So the way looked at it was that $500 + $495 would be like $40 a month towards a lease.
This is my third Buick Encore lease. The wife and I think these little SUVs are great runabouts and commuter cars. And the cheap lease deals make it all the sweeter.I drive 24k miles per year, the wife drive ~5k/year. So by switching cars yearly the 15k leases over 2 years works great.
Looks like a solid deal. Congrats. In figuring your net monthly, the first month payment shouldn’t be factored in since you only have 23 payments left.
what is the $495 deposition fee? dont they waive that when you lease another gm car?
it seem like the deal just werent as good as last year. i hope it gets better when im rdy to turn it next year. i think i will get another encore too, such a great car. did you try getting simpson to match? costa mesa is pretty far.
oh and gratz on ur new encore
Yes they do waive the disposition fee if you lease or buy another GM vehicle. Had I turned in my 2016 Encore and then waited for a screamin’ deal like they had in 2017 then I’d have to pay it. So like I posted should I have not leased the new Encore and just returned the old one I’d be out $495 plus I’d have lost the $500 plus up certificate. Those two things are (kind of) like paying $40 less on your next GM lease.
That’s the issue with leasing. When the old lease is up you need something else to drive. When the old lease is up you do the best you can with the deals that are available at that time. Extending the old lease wasn’t a viable option for me because of all the miles I need.
regarding Simpson Buick, I leased my other two previous Encore’s through them. At that time they had the best deals around especially a year ago. I spoke with their floor manager and the best he could do was around $25 more a month. beyond that he wouldn’t budge even though I showed him the other deal. I gave them first chance to earn my business.
The other issue that many on this forum may not be aware of is that GM just may pull out of Korea (where the Encore is built) this year. Perhaps it’s better to jump on a deal that’s good but maybe not as good as the deals have been. Regarding the Korea thing, the reason Encores are so reasonable to lease is that GM Korea must keep those factories humming. GM looks at everything and decides to offer lowball leases to move the metal rather than pay Korean unions not to work. GM just closed one plant in Korea. Gm has said that if the “stakeholders” can’t offer a viable and profitable business then GM may pull out of Korea.
I don’t think I could pull the color off personally, but I appreciate the bold choice! Enjoy! Part of what was driving me nuts trying to find a new ride was narrowing things down and having to filter out all the black and white ones. I had a white CRV and it bored me to death in more ways than one.
Color is a very personal thing. Both the wife and I think this particular color is super. For what it’s worth the sales guy tells me that the darker colors sell much better than any of the lighter ones.
Don’t get me wrong, I think it’s cool. It’s kind of like when I see a guy wearing a pink shirt… It looks nice on them, but a schlub like me it wouldn’t work.
i love that color!! they didnt have it in stock when i did my lease.
i read the new about gm closing their factory in Korea, seem like they plan to close them all, but the factory worker and all supply chain would be too much to give up for the Korean government i think.
Yeah GM used to be able to sell many of these Korean units in Europe before they dumped their GM Opal division. I suppose that GM got tired of losing money decade after decade on Opal. The Encore is really just an Opal Mokka model slightly restyled and trimmed out for US preferences. But now without Opal GM doesn’t have the European market it once did for small vehicles hence the struggled of their Korean division. GM seems to be making big strategic moves lately and because of that just maybe the Korean thing might not work out. But stay tuned, GM and the unions and the Korean government are in high level talks as we speak.
regarding the color - thanks for your comments. We like it too. Also for what it’s worth, I got the last unit in current stock with that color. I would have been happy with pretty much any color though. The main thing was the deal and the cost per month.
Flexibility on color is important. This week Honcker had an SLE1 Acadia I could have jumped on for around 318 a month all in with my negative equity rolled in, but I really didn’t want black, and I realized that I had it in the budget to move up a little bit. If it was anything but white or black I probably would have jumped on it and saved a few bucks though.
well, after all we are hacking for deals not color i usually go for the best deal even if i have to take a bright red one. so its nice to end up with a good deal while getting the color you want
I know… I know… I was coming out of a White CRV that bored the heck out of me. I wanted something that wasn’t boring color wise since I needed to accept a boring 3 row SUV anyway. At some point I’m only willing to make so many compromises. All in all I was pretty open minded. I would have taken anything that wasn’t black or white. Still leaves a lot of colors to choose from.
I just got an E-mail from the General Manager at Simpson Buick (Buena Park California)telling me that since I’m eligible for GM employee (GMS) pricing that he would do a GMS sign and drive (nothing down $0 drive offs) lease on an encore for $129 a month. That deal wouldn’t even use my GM credit card rebate or certificate. With sales tax in my city it came to $139 a month with tax.
It wasn’t clear from the E-mail if that was for a 10k/year lease or a 15k/year lease which I needed. Buut if it was for 15k miles I could’ve save ~22/month. If it was for 10k miles/year it would have been about the same deal as I got once you bump the miles.
I sent him a nice thanks for the offer reply email but I wasn’t in the market anymore.
because i believe incentives are much better this month. GMC dealer just emailed me too that lease conquest is 3000 this month so the numbers will be much better.
Well maybe I could’ve waited and got a better deal. I’ll be watching just to torture myself. The problem is that you just don’t know what incentives will be next month. For me I had a plus up certificate that was expiring that motivated me.
I certainly was aware that better deal were had on 2017 Encores but needed something to drive now. The deal I got is acceptable to me. The Encore is a pretty nice car to drive lots of miles for only $161/month.
I knew it! Anyone know what the time frame is after you turn in to still qualify? It’s a long shot, but maybe I’d still qualify for another one if it’s within a certain amount of days? Or once it’s done it’s done?
i usually go for the best deal even if i have to take a bright red one. so its nice to end up with a good deal while getting the color you want