Hi all, glad to have found this forum! I have a specific question on GM’s lease loyalty incentive qualifications. Does having anyone with a current lease registered as living at the address the new lease will be at qualify or do you need to be related or married?
Could one with a current lease, temporarily change their address prior to the new lessee applying for the incentive, then change back after approval?
The scenario is basically this, a friend has an extremely high mileage car that he owns outright, its facing a potential 3-4k repair. A dealer local to us has a couple stupidly low priced lease deals on some former loaner cars. They require a GM employee discount(which he is eligible for) and the loyalty incentive. I currently have a lease on a 2023 Sierra. To help him out, could “move in with him”, change my address to his until after he gets his approval, then switch back?
He’s basically thinking if he can get a lease with a monthly cheaper then what he would for buying, then he will do that for now, in hopes that loan rates drop over the next couple years.
He’s not interested in buying the lease out when hes done. He’s just looking for something to get him by till interest rates go down. Then buy whatever he wants when the lease is over.
The deal was a 2024 Terrain SLE, former loaner, for 99/mo with 1995 down. The other was a 2023 Acadia SLE, 1995 down, and the last was a former loaner 2024 Sierra double cab, 199/mo, 0 down. Those prices required gm employee discount, lease loyalty, and the gm card. I thought he was full of it with those prices, but he showed me the ad. Was from Ed Rinke GMC.
All prices and payments include GM rebates. Pictures may not represent actual vehicle. Pricing subject to change per GM incentives. Prices and payments are inclusive of active GM employee discount (unless otherwise stated. All leases are 10,000 miles per year with approved A+ Tier Credit. Must have lease loyalty vehicle in household. Prices any payments are plus tax, title, plate, doc fee, refundable security deposit required on certain vehicles – to be determined by lender. Certain restrictions may apply, see dealer for complete details**
He’s just looking for something to get him by till interest rates go down. Then buy whatever he wants when the lease is over.
Who says interest rates will go down? There are vehicles out there with 1.9 or 0% interest rates on a purchase (Ford, some others), maybe look into those?
No where does it say that. It does say GM Employee Discount, and Loyalty on Certain models, but no mention of the other 1, it does mention the usual +TTL fine print.
That is a good point and one i did mention to him that there isnt really a guarantee rates will go down much in 2 years. And he’s strictly a GM guy for whatever reason. Don’t think hes ever owned anything else.
Thats the ad he sent me a screenshot off. If you look in the blue section under the phone numbers it mentions it there. I also now notice it expires tomorrow. Not sure if he knows that, but that makes this post moot as i couldn’t help him in that time frame even if it were possible.
True, and ah the old ‘certain models’ list. (Still doesn’t say GM Card)
Honestly I would expect them to pull the old Bait And Switch but as it expires, owells you can’t get all the deals, especially with a minor amount of fraud.
