Had to check out some of the Chevrolet deals I have been reading about here, so test drove an Equinox and thought it would make a good around town grocery getter. I have a 2015 Chevrolet lease which is up in September, but am also coming out of a Ford C-Max lease in the next 3 weeks.
I also just signed a deal on a Toyota Highlander lease the last day of February and wanted to check if that would qualify for the $3000.00 conquest incentive towards an Equinox. The salesman pulled up my information on the computer screen and showed me the incentives that were listed under my name.
Surprisingly, there was a $50.00 test drive credit card offer, AND a Chevrolet Pull a Head Lease offer ending March 31st along with the other incentives I knew about from ads and this forum. The salesman said I should have received a mailing with those offers but I never have. He was able to use the offer code for the $50.00 test drive credit card and was also able to qualify me for the lease incentive. It pays up to 4 payments up to $2500.00 AND an additional up to $2000.00 depending on what type of car/truck you are turning in early. My Traverse which has 6 payments left would have received $1353.16 towards 4 payments, and an additional $1500.00 rebate towards the Equinox.
It really didn’t make sense even with the Lease Pull a Head monies because I would still have two payments to pay with the turn in, and I would only get $1500.00 rebate instead of the $3000.00 Toyota conquest rebate. Using the Toyota offer I could get a 24/10k lease on a $30965.00 Equinox for around $186.00 which included 7% tax, tax on a total of $6700 incentive money, and up front cost of $707.00.
The lease pull a head offer was going to be around $250.00 or so with the lesser rebate money, the same down money, but me paying the additional 2 payments of $676.58 (monthly payment is $338.29). Total incentives towards cap cost reduction on the Pull a Head offer was only $5200.00 instead of the $6700.00 using the Toyota conquest money.
I was not going to put that much money out of pocket towards a car I was turning in early with well under the miles allowed and have another car sitting in the driveway costing more insurance, an extra payment, etc for 6 more months. Even though the $186.00 was going to be knocked down to $165.00 by using GM Credit Card earnings, I didn’t need to do the deal unless I could get out of the Traverse.
My biggest piece of advice after this long winded post is to CHECK YOUR DEALER for any incentives. I have been a GM customer for over 40 years and have never received some of these offers which were showing in the computer! I am going to call GM tomorrow to find out why and make sure they have my correct information. The salesman said these were private mailings with the offers that I should have had, and they expire 3/31/2017. Not sure what other offers I may have missed out on in the past !!!