Lease Help Please I don't make much and need help

So read all the advice in there rolled up there like I knew what I was doing and think I got eaten alive. Need help on these numbers. I barely drive (less than 4k a year so lease is perfect for me). I can’t afford unexpected car payment, since I’m the only worker in my household. I live in Michigan and can get gm family discount.

I have been emailing them about the cheapest possible lease since I don’t drive much, went in today for test drives and numbers after a couple hours with the sales manager this is what we came up with. Said they can’t negotiate sales price due to gm family discount pricing

Equinox base no options 3 year 10kmile
Lease payment: 259
60% residual
26,004 sale price
Lease payment: 259
Residual value 16,800
Acq fee 650
Rebates 1780
Turn in fee 395

2019 Trax LS no options 3 year 10k mile, this one I asked less questions but they gave me the sheet on so I’ll include everything they did.
Payment 216
Sale price 20995
Acq fee 650
Rebates 2500
Net cap cost 19189
Document fee 220
Government fees 48
Gross capitalized cost 22339.58

I don’t have any idea how to analyze this. They let me take the Trax home for the weekend and they told me the lease payment includes everything no surprises. Both vehicles only 650$ up front. I like the equinox alot more but not sure if it’s worth the extra $. Any advice is super helpful thanks!!

Are you currently leasing a GM vehicle? Looks like there’s a lease loyalty rebate. If not, are there any current cars you own?

General strategy is to email as many dealers in your area as possible and get quotes.

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Nope I own a 2000 Cadillac sls with 64k miles I plan to sell privately. I’ll try emailing other dealerships

As suggested don’t go into the dealership, do everything via email and don’t show your inexperience in leasing, dealers will just try to take advantage of you. Get all the details, including selling price, money factor, rebates and any extra fees added on. Get these additional quotes and post them here.

I disagree that a lease is perfect for you. You are paying for at minimum 10k miles per year of depreciation and not even using half of them.

Financing a reliable used car is perfect for you. A lease is a total waste. You could also buy a brand new Trax or Cruze for less than $15k easily. GM has some pretty strong purchase incentives right now. PM me if you need a good contact in SE MI for Buick/GMC. Even if you want to do a lease she can beat that Equinox price on an Encore or Terrain easily. You should be under 200/mo on a base Encore and under 250/mo on a base Terrain first month DAS.


Totally agree with the above. A lease is a waste for you. Get a new car with a 10 yr warranty.

But imagine the OP’s emotional scars and PTSD from owning a 2000 Caddy SLS with a Northstar

I’ve only ever purchased Honda products so my mentality is a little different :rofl:

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Over 2000$ into it this year alone, so yes, with how much I make poor budgeting the unexpected repairs can bankrupt me.

A $15,000 car financed over 60 months is about $250/month. Might be a better idea than leasing a new car every few years. There are many affordable and reliable cars out there for about $15K with new car warranties.

Your particular vehicle is a really bad mix of unreliable and expensive parts. I don’t blame you.