Need help. New to leasing and came by a dealership my buddy is working at. It is for a 2026 Chevrolet Silverado 1500 ZR2. I’m trading in a vehicle to get rid of its negative equity. Is this deal any good? Anything more I can do? Any suggestions help.
Treat it as 2 transactions
Is your current car worth 22,500? Get quotes from several other outlets first to find out if that is right.
Then ask them for the MF they are charging you. Last you should poke around signed deals to see if a 4% discount on this truck is right. (I’m not shopping them so not 100% sure - just feels light to me off the cuff)
Lastly, $1193 over 36 months is $43,200. Feels like a lot for a Silverado (I know its an 80k truck) What are you getting out of? why? What are you going to do at the end of 36 months? (Rhetorical questions - only you can answer)
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I’m going to guess they are getting out of a Dodge Durango R/T or maybe Volvo. Wait no Volvo since I’m stereotyping Texas… Ram 2500.
When a dealership buddy gets involved 99% that will be a bad deal.
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Getting out of a 2023 Kia Sportage. It was my fiancée’s and despite doing biweekly payments, we saw KBB and Carfax value at less than what she owes on it. Worth around $20,000 now and she still owes $24,000 also getting rid of a car (2016 Hyundai Veloster) just sitting in my driveway I don’t have use for and has 111,xxx mileage. It’s paid off and they’d give me $2,000 for it despite it also going on KBB, Carfax Value and Carmax offer of $1,600. So the trade in aspect seems pretty decent. Just the numbers on the truck seem kind of off. Wanted a second opinion.
There was a 55k Silverado lease in CT - granted that was a 55k MSRP vs your 78k.
Discount was 10.9% and rebates (GM card/loyalty/Costco) were another $5500 or 10%.
You were quoted $3500 discount (4.4%) on a much more expensive truck. Push for 10% and see if you qualify for any rebates and keep the discount vs rebate number separate. Rebates are what they are. Discount can be changed…
Seems like a typical first offer from a dealer.
Not in Texas. If the tax benefit brings it to or close what an outside offer is, it’s worth it to include it.
Why are you trading in a vehcile to just get rid of its negative equity? Is your girl friend going to drive the $80K truck instead of a Kia Sportage? You are going to have negative equity in the new truck until the day the lease is paid off, so don;t plan on getting out early.
That said, I think you should push for a higher discount of MSRP to make this deal worthwhile.
I travel for work so we’re going down to one vehicle. Her car started having some sort of electrical issue or something with the starter and it wouldn’t start sometimes. Took it to the dealership and they found nothing wrong with it. So that’s another reason. We’re going to share this vehicle. My job gives me a rental while I’m out for work. Will strictly be for my personal use and for her to drive while I’m gone. We live together. Dealership say they can’t do more discount than offered since it’s a lease and I don’t qualify for any rebates.
what’s the real reason why you’re getting rid of a ‘23 kia for a ZR2 pickup? none of this is adding up. if you want a zr2 just admit it instead of trying to do mental gymnastics to justify it. i would think a 2 year old kia would still have some level of warranty on it so keep taking it back to the dealer?
that being said, i wouldn’t expect a ton of discounts on these because the dealerships “know what they got”. i’d look more at a trail boss, probably 12-15% discount on those easily before rebates.
Yes, simply put, I wanted a ZR2.
Ofc it’s a horrible deal. How is this even a question? Who looks at a Silverado and thinks it’s a $1100 truck? Why on earth would anyone pay $1,193 x 35 =$41,755.00 to rent this and then return it?
This is the most unhacked quote on here in a long time. When the vehicle you want isn’t hackable, you have two choices: buy/finance the vehicle you really want, or lease a hackable vehicle.
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is there a website to browse for these “hackable” deals any recommendations? Or is it strictly this website?
Check this. Even with shipping might be worth it.
Bro you’re on a site called leasehackr lol .. jokes aside, check the marketplace, signed section, and signed posts to get a sense of what’s leasing well vs not
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Just to clarify, you are selling/trading 2 cars to the dealership?
I’ve decided to back out based on general feedback from here. Found this deal from another local dealer looks more appealing. Any input?
Dealer/national ads are usually very poor. What is your effective monthly, after you add in all the things in the fine print.
Another poster has already recommended a course of action. I would suggest you consider taking their advice.
You know your stuff
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Yep, know how to use the LH calc and put together a target payment/DAS for the vehicle you want.