GMC/Buick: Need to lease pull-ahead 9 months, what to expect?

eddieman · June 4, 2018, 6:30pm

Also, rep told me that pull ahead from Dealers are usually 3 months before maturity. If there’s any truth to that, maybe negotiate to only pay 6 mos and Dealer can cover the rest?

max_g · June 4, 2018, 6:31pm

If you can, wait til toward the end of the month. 6/30 is not only month but also quarter end

eddieman · June 4, 2018, 6:34pm

This is what I am planning on doing so I am sending out emails starting today to a few dealers in my area.

mp11477 · June 4, 2018, 8:49pm

What “rep” told you this? Gm has a list called the manifest list which determines if you get a pull ahead or not. A dealer can look it up, but has no authority with regard to doing a pull ahead program without you being on it, since GM eats the payments, not the dealer.

I have never heard of gm doing pull ahead this way. My info has come from GM Corp as well as a few dealers.

The rest of your info I agree with, as it comes straight from GM financial.

mp11477 · June 4, 2018, 8:51pm

For being quarter end, the lease programs on 3 cars I was looking at stayed the same or got worse than in May. I expected better.

eddieman · June 4, 2018, 8:59pm

I’m just a messenger. I called once and chatted 3 times and received the same answer and/or response. Reached out to two Chevy dealers in my area re pull ahead and was told to ask GM? I don’t really know who to believe.

mp11477 · June 4, 2018, 9:03pm

They can look up your name or current VIN on the manifest list. Ask a dealer to do that instead.

With that said, if you have 8 months remaining, you’re not going to qualify regardless. You have to have 2-4 months remaining depending on what pull ahead you would qualify for.

eddieman · June 4, 2018, 9:20pm

Thank you for the information. I’m not in a rush and can wait. My payments are relatively low and I’m way under the allowed mileage.

Chi_Ahrens · June 13, 2018, 3:36pm

mp11477:

Well, you won’t write it this week. Here’s what will happen if you return/ground your car early:

Whatever GM dealer you drop the car off at will have first crack at buying it. If they do, you’d owe your remaining $1,800 in payments.

If they decide not to buy it, dealers will have the opportunity to buy your car at a predetermined price GMF sets. If a dealer buys it, you owe the remaining $1,800 in payments. They give them like a week (and this is all dealers across the country). The idea is that they’re trying to avoid sending the car to auction.

If no dealer buys the car, they’ll send it to auction. Depending on what they get for the car at auction, you could owe less, but no more than the 1800 you still owe. Ex: Say they sell the car at 15,000 and you owe 16,000 on the residual. You’d only owe 1,000. However, if they sell the car at 15,000 and you owe 18,000 on the residual, despite the fact there is a 3,000 gap there, you’d still only owe the max 1,800 in remaining payments.

You’ll receive a final bill somewhere between 30-60 days after you ground the car. That’s when you’d pay (providing any of the above items don’t happen).

Wow! Thank you so much for that explanation. I got a letter from GM saying something about that they’re going to sell the car at the auction, and I thought that they were going to bill me for the difference. I got the letter yesterday, and I couldn’t sleep because I was worried about paying $5000 on an EV with crap resale value. The residual on my 2015 Spark was around $14k, but I see them selling for like $10k by used car dealerships.