We’re hoping to get another 1k on the trade in but they want to see the car first. For some reason I can’t get the same numbers using the lease calculator, but I have a written contract for this price. Thanks for the help
Boom. We’ve seen this over and over again with dealers hiding or not showing positive equity. Sell the trade separate from this deal and pocket the cash.
As for the deal, if it’s straight supplier discount, any dealer should be offering this. I’d shop around more.
Do you guys know if you usually get the price they offered you after they inspect the vehicle, or do they find stuff to lower the price? Im trading in a car thats 3 years old but only has 15k miles on it so I feel like its in excellent all around condition, which is what I reported
Back in December, before I found out about this site/forum, I got the same Traverse you’re looking at. I think the MSRP of mine was around 36k, but in any event, I picked it up for $299/month. There was no trade in. All I paid up front was first month and DMV- all other fees, taxes, etc., were rolled in. I’m pretty happy with the car and think it’s a good value for the money. If I knew about this site back then, I’d share the data points/lease calculator, but I didn’t think posting a deal from several months ago would be helpful to people right now.
You can get all of the data points from your contract.
Agreed. Traverse is OK but this is rental car spec and GMF is barely throwing any cash at these when usually they have thousands in rebates to move them. If all you’re looking for is space…dare I recommend an Odyssey?
My wife wants this suv, mainly because of the third row seating and price point. She would definitely be open to other vehicles, but was impressed by the cargo space in this. Thanks for the help with all this. She went to the dealer by herself to try and work this deal.
This was his no money down quote to her before she mentioned the trade in and they jacked up the money factor on it
Work out a new deal with a new set of dealers, with no trade involved.
Default plan to sell the current vehicle should be the highest online bidder among vroom, ALGO, Carmax etc. If the dealer with the best deal in Step 1 can match that, take the equity as a check.
IMO there are a lot more attractive options at this price point. You can look at shared deals and marketplace to get an idea. But regardless, you don’t need to go to a dealer to work out a deal.
It is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, etc.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
Read Leasing 101 (Blog | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
Pick a specific vehicle that you want to target
Gather the current MF, RV and incentives from Edmunds forums for your zip code
Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
