Lease Deal Check - 2020 GMC Canyon 36/12

, , ,

At end of current lease ('17 39/10 Canyon for ~415/month), came to terms with a out of state dealer for the following:
2020 Canyon SLT AWD Diesel, Crew/Short. 449/month $3500 out the door. 36/12.
Thoughts? This is my second lease, am overall happy with the deal.

Please update your title to be more useful and reflect which vehicle is being discussed.

So ordered. Updated with Y/Mk/Md

An effective payment of $550/mo for a $45K truck is not that great. But if it’s what you wanted, don’t obsess over the deal, just enjoy it.

1 Like

Did you sign it already?

Yeah, you could get 2 Tundras for that money, but you’d spend much more in gas, especially than the diesel Canyon.

1 Like

@MaClel it is not signed, but am planning on signing shortly.
@z0lt3c Using this an an opportunity to learn for the next time of things I may have missed/could have done better with. Any thoughts?
@cheapdad00 I enjoy the current diesel canyon I have, and am looking forward to this one. High 20’s mixed mileage is great. Have been a GM family since day 1, and work for a GM Supplier.

The other dealers in my local area have been quoting 550+ monthly payment for same truck with same lease terms. It certainly didnt beat my current lease which came to be as I was neighbors with the dealership owners at the time.

The diesel model is selling for a premium, which is part of the problem about getting best value out of this lease. If this is really what you want, you may have to live with the fact that it doesn’t lease well.

However, as a reference, I’ve worked on some leases terms for a loaded Caynon Denali, which has a similar $45K MSRP and have been able to get it down to $450/mo with only first month due at signing. Best terms this month appear to be with US Bank.

It looks like you are only getting about $1000 discount from MSRP pre-incentive. This is a pretty meager discount, I would like to see closer to 10% which, granted, maybe hard on a diesel.

Otherwise the fees look reasonable and the rebate is decent. I am assuming the MF is buy rate. It’s unclear what bank is being used, this maybe something to ask.

Getting them from MSRP of 46980 to the 44800 (which was lower than GM Supplier price) was the best they could (would) do. The US Bank comment, that is entirely on their side correct? Something I’d have to ask them to check on?