Chevy Traverse 3LT with Premium Package

First time leasing a car, I typically buy, so I am a complete novice.

I was at the Dealership for Chevy Traverse 3LT with Premium Package 10k miles / 36 months. I am thinking it is a bad deal with a lease calculator score below 8. My my wife is trying to get me to move quick.

MSRP: $49,015
Invoice: $47,349
Selling Price: $43,182

I have GM Supplier Discount apparently included in this price as I have the discount from my work.

Trade in allowance of $3k down

Monthly payment of $552.

They are using a Money Factor of .00156

RV Factor he said that they are applying is 58% and I am in NJ with Tax of 6.625%

Is there any wiggle room with RV & MF? What else should I be trying to do?


Confirm the MF and RV with Edmunds as well as incentives. Last month the 36/10k were 00048 and 58% so I would be surprised if the MF increased that much month over month. It sounds marked up. Does that selling price include incentives?

The Selling Price includes the incentives the dealer said, but he didn’t provide the breakdown of incentives, just lumped it all together and said $5,833.40 is the Supplier Discount with the Incentives. In the Order Sheet I do see the Supplier Price at $46,931.60.

I went to Edmunds and built the same car, but not sure how I find out that MF that you had quoted. I feel like the MF is too high as well but he noted on the sheet that it is “Based on 800+ Credit Score”. Not sure if this is just want they always do.

Having current, accurate information for residual value, money factor, and incentives is important in understanding you deal. As such, going directly to a source that has access to that data from the captive banks is your best option. The forums at Edmunds are where we go to get that information, as they have direct access to it from the captive banks. You’ll want to post of the model specific thread for the vehicle you’re interested in and request the most current numbers for your zip code. It is often easiest to find that thread by searching Google for “Edmunds lease” followed by the model of vehicle you’re interested in.

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You can ask on the forums at this link. Specify the drive train and trim you want as well as your zip code:

I suspect the money factor is marked up and the selling price is really nothing special if it includes rebates. Keep your trade out of the discussion for the time being. Do you have a lease in the household? There appears to be $2,000 in lease cash and an additional $2,250 if you qualify for lease conquest or $1,500 for GM loyalty. When you add all that up with the supplier discount it doesn’t really sound like they are discounting the car much at all on their own but you would need a breakdown of the incentives being applied. Definitely shop around and get a dealer to quote you the base money factor once you find out what it is.

Appreciate the advice. Just posted in edmunds to see about the MF. Definitely feel like that is high. I figured with the supplier discount through my company that there is less wiggle room in the negotiation. Any levers I can pull or push them other than MF?

Definitely going to shop around, but wife is excited to get $13k for her trade in haha

Most cars do not lease well. This is truer now than it has ever been.

So unless you are willing to push this boulder uphill, you need to look at other makes/models that lease better and offer more value per dollar.

Check out the “Share a Deal” and “Marketplace” sections of LH forums to see what’s leasing well and narrow down your search.

Check with Vroom, Carvana, ALGo and places like that online to see what they will offer for the trade in before you do anything with it. They may offer you more money and it might be worth keeping it out of this deal altogether. More often than not adding a trade in into the deal is just one more shell for the dealer to play with and move around to make things look more attractive than they really are. Plus that $3,000 “trade in allowance” will be lost for good if something happens to the new car and it is totaled.

Your biggest variables would be money factor and the selling price before any incentives. That’s really all that’s within your control, up to a point. The base money factor from GM Financial is a low as it will get and you should insist on it if your credit score qualifies for it. With a supplier code you should shop around and try to find someone who will give you 10% off before the manufacturer incentives, along with the base money factor.

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What car are you looking to trade? Is it owned or leased? Do you have a lease in the household?

Owned 2015 nissan murano with about 68.5k miles. No lease in the household, first time we are leasing a car.

Unfortunately my wife wants the traverse as it meets the need for our 2nd kid on the way and our 80lb dog. Captain seats, good trunk space, and 360 camera are her musts.

Saw that toyota highlander leases a lot better but she thought it was too small. Seems like we are settled on the traverse, just trying not to get taken to the cleaners on our first lease.

I’d keep the trade out of the equation and shop around for someone who will do that for about 500 a month with nothing out of pocket, assuming that Edmunds comes back with a base money factor of 00048. They are basically just giving you regular supplier pricing, which is only about $1,000 out of their pocket and they are possibly marking up the money factor too which negates the supplier discount. In your current quote it just sounds like they are using the trade to cover taxes and inceptions.


This is exactly the person said the MF is and RV is, so seems like they are trying to gouge me on the MF by tripling it!

Don’t fall for that trap. We all understand additional kids change life priorities, but don’t get stuck in a long term, high payment lease due to panic. You have help on here to make a good decision.

Just for reference, I leased a $49k Buick Enclave in Dec for $371/mo with $644 down. Obviously different incentives at the time, but maybe look at Buick or other brands for better lease programs.

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They have the right to mark up the money factor, it sounds like it’s marked up to the maximum allowed amount too. You also have the right to shop around and find a dealer who will give you the base money factor as long as your credit score qualifies you (Usually 700+ does the trick). In some instances you can justify paying markup, for example a BMW dealer giving a very large discount in exchange for it. That doesn’t really happen with GM dealers so I would never pay markup on a GM product.

It might be worth cross shopping the Enclave, the Acadia to a lesser extent since it is a little smaller.

With the Enclave, the Nissan you own would also qualify you for $3,000 in Conquest incentives plus an additional $1,250 in lease cash. You would have to check the numbers on Edmunds for this month but last month’s leasing programs look very similar to the Traverse. GM seems to have held the line for the most part from Jan to Feb.

The Acadia seems to have a higher MF and similar residual, but would qualify for $5,000 in total incentives.

Also, keep in mind that on the Traverse you should be getting $3,750 in total incentives too. There’s $2,000 in lease cash and OWNING a 2007 or newer Non GM vehicle qualifies you for another $1,750.

Honda Pilot?

I’d be curious what an EXL AWD would look like with 0 DAS and Tax included. For this particular Traverse, using the Supplier Code, $2,000 lease cash and the $1750 conquest incentive I think OP should shoot for something like this:

Again, I’m leaving the trade out of the equation. Either have the dealer cut you a check or sell it through Carvana, Vroom, AL Go, Carmax or a private party. Just do it after you sign the contract so you don’t have any issues qualifying for the conquest offer.