First off, this site rocks! I have learned alot in a matter of minutes! I’d love some proffessional feedback on the deals below. If any pertinant info is missing I will get it ASAP.
Thanks!!
Mark
Currently leasing a '17 GMC Acadia SLT-2 w/ Roof and NAV. We have 10 payments left on a 36 Month / 10K mile lease and we have about 26,000 miles on it and counting rapidly. That’s why I am investigating my options just so I have something to contemplate. Additionally some of the deals/rebates I have seen for GMC’s seemed pretty good right now.
Buyout is about $27,500 and we have 10 payments left @ $415/month
We will definitely be leasing another Acadia (My WIFE LOVES it) and her work travel will be reducing each of the next few years so we’re comfortable with another 36 month / 10K lease.
Are these decent deals? Horrible deals? Am I crazy to considering wrapping any “inequity”? This is 1st pencil, haven’t negotiated anything as of yet
2018 GMC Acadia SLT-2 w/ Roof & NAV
3.62% Base interest rate, $47560 MSRP
Carrying $4164.70 inequity
36 Months, 10K Miles
$687/month w/ $1039 Due Additional Info from the sales manager: -$395 Doc fee included -$650 ac fee included -$1200 below invoice (he wouldn’t/didn’t give me the actual price) -59% residual
2018 GMC Acadia Denali (Demo with 3K Miles)
4.34% Base interest rate, $52,285 MSRP
Carrying $4164.70 inequity
36 Months, 10K Miles
$622/month w/ $948 Due Additional Info from the sales manager: -$395 Doc fee included -$650 ac fee included -$1200 below invoice (he wouldn’t/didn’t give me the actual price) -61% residual
What’s your mileage overcharge for 6000 miles over (about what you are tracking to) - $1200 @0.20/mile? I think I it would be foolish to wrap all that negative equity in a deal for the same model vehicle.
Great way to look at it…
It’s .25 cents a mile. Wow…that cost is way less then what I thought haha! I didn’t even contemplate this easy solution.
Honestly, my wife LOVES the Acadia and wants another for sure. We feel we got a great deal on it but is has the grey/brown interior and she wants a black interior and agreed if we get another one she’ll keep it for 10-plus years. Her work travel will be dropping by about half so miles won’t be a problem and presumably will maintain a little more value then this one due to that. So those are among the reasons I am even investigating options at this point.
Thanks!
Mark
What is selling price, RV and incentives for each one?
AFAIK the Denali and SLT-2 have different MF. You should confirm this on Edmunds. Usually Denali trims have a higher MF and higher RV.
GM demo’s are typically a waste of time because you lose the miles that are already on it. So if you do a 36mo/10k, you only get 27k miles. Very rarely have I seen a GM demo deal that discounts sufficiently to make the $/mi cost cheaper than a new example.
Why are you doing another 10k/yr lease when you drive more than 10k? The residual hit for 12k is only -1% and 15k is -3%.
*Added additional info he just sent me in bold in original post above
My wife travels in the vehicle for work, and probably 80% of that is in the summer months. Her travel schedule is going to be reducing each of the next few years so we’re comfortable with another 10K lease.
Thanks!
Mark
“$1200 below invoice” means literally nothing, unless he’s going to divulge his holdback and floorplan incentives from GM. You need to get the selling price or ‘agreed upon value of vehicle’ which will be on the lease contract so idk why he’s acting like it’s some big secret.
You also need to find the incentives for each model and confirm MF on Edmunds.
Hey Guys, love the site. I want to learn more about the finite mathematical details of leasing. I have struggled with math my whole but I really want to master leasing and need to kill it on my next lease.
Thanks for all help and feedback.
*My situation is we are about to go over mileage on my wifes 2017 AWD GMC Acadia SLT-2 lease. After the payment goes through tomorrow we owe 6 payments ($416.47/month) for $2498.82 total. I want to research month to month what my best case scenario is in getting into another Acadia, an AWD 2019 model, starting with October.
Overage for miles is .25/mile for the record. I also learned yesterday that by trading in early on another GMC I won’t owe the dispo fee and they waive up to $500 of damages.
My question(s):
-Below are the October 2019 rates and incentives on the 2 models we are considering. Which lease is the “best” ie. the cheapest monthly payment (assuming we negotiate buy rate and a fair discount off MSRP before incentives)?
-What discount does GMC usually max out off MSRP these days?
-What will GMC typically discount off Demos?
From Edmunds, I am in Northern Colorado fwiw:
2019 Acadia SLT
24: .00196 MF and 64% residual
36/39: .00149 MF and 57%/53% residual
2019 Acadia Denali
24: .00215 MF and 66% residual
36/39: .00180 MF and 59%/55% residual
$500 customer incentive - either trim
*I am a Costco Executive member which is $700
Please keep all of your related posts in one topic. I believe several of your questions have already been answered.
You don’t need to be a math whiz to type the numbers that you’ve presented into the LH calculator. However you are missing the biggest piece of the puzzle which is incentives.
I think that you’re over thinking this. Just type ‘Acadia’ into the search bar, read every thread, and then go get quotes.
I have contacted 5 dealers so far and have received their 1st pencils on a 36/12 lease on an SLT model (Per Edmunds .00149 MF and 57% residual).
*There is $1500 lease loyalty and $500 customer cash available
*Costco gift card ($300 Gold Star, $700 Executive)
The discounts from these dealers offered before incentives range from 1/2% to 5.5%. The dealer at 5.5% “seemed” to be the most forthcoming with telling me he’s at buy rate right off the bat and he’s at his max discount and won’t come down on it. Three of the others said they’ll come nowhere near 10% before incentives. Fwiw each and every one of them pushed for something as a down payment despite me very clearly requesting quotes with a true zero down.
I am ready and willing to pull the trigger today if any of them agree to 10% off before incentives and buy rate.
Thoughts on moving forward? Just politely ask for 10% and move on if they say no? Should I accept that I won’t get 10% and aim for something less?
Thanks for all feedback. Once I reply and get their counter offers and/or if one of them agree to my terms I’ll post the sheet(s).
10% before incentives is a reasonable request. Email or call them all with that proposal, I’d imagine that someone will take it.
Also those incentives are downright terrible for Acadia. In Michigan they’ve consistently been $4k-6k for the last several months. Did you check if SLE has better incentives?
Thanks for the reply.
I will go ahead and ask for the 10% before incentives and see what happens.
The incentives are the same on SLE’s. MF and residuals are different:
2019 Acadia SLE
24: .00145 MF and 63% residual
36: .00115 MF and 56% residual
39: .00115 MF and 52% residual
I can definitely save some $$ monthly with an SLE, which I’m not opposed to. It’s my wife’s car and she would highly prefer leather (since we have a toddler) but with the right savings and if SOMEONE will give us the 10% discount I would very seriously consider an SLE now that I am playing with that MF.
Honestly the incentives are so bad for you that I would just hold off on this and check on incentives each month, hoping they’ll get better. You have time left on your current lease.
10% pre incentives isn’t going to happen on a non loaner/demo. That being said, there are some pretty significant rebates on both (at least in NorthEast). Shoot for 7-8% on the new one and 10%+ on the demo
I’ll take that as a compliment then We are one of the most desirable areas to live supposedly.
Anyway, basically radio silence since I reached out to all 5 dealers lowering my ask to 8% before incentives. One replied said they were at 8% but in reality they were at about 7.5% including the $2000 rebates.
Just to show you guys what I’m dealing with here in CO:
Here is what I’m dealing with here in the area…everyone is balking at 8% as well. Below is the answer from a LARGE GMC dealer with LOTS of 2019 inventory when I asked for 8% off before incentives:
“Talking with my new car manager, what you are asking for is us to lose money to lease you a car. They may do that with the end of the month closing in but you would have to come in and make a offer. They just won’t let me make a losing offer over emails.”
Wow that’s rough. Did you try calling? Sometimes a 5min chat works wonders to lubricate the process. Just make it clear that you’re reaching out to every dealer in your area, and the first one that agrees to it gets your business.
I have done all my communication with 5 local dealerships via email. All the correspondence has been directly with a Desk or Sales Manager. I made it crystal clear that I will buy from any dealer that meets these terms within 7 days and that I have cast a wide net looking for the same deal. I used 7 days simply because this month myself and my wife are both on separate works trips throughout the month so I wanted to make sure we could both be home to do the deal.
I haven’t made any phone calls as I’m hearing impaired and with finite details and #'s being negotiated I don’t feel entirely comfortable calling and discussing #'s over the phone.
I haven’t ruled out waiting until November and trying again. The incentives aren’t great now but it’s hard to gamble on what next month will bring. We’ll definitely hit 30K miles by the end of November. For what it’s worth a few of the dealers have said (take it as you may) that GMC is having major shortages in overall production and that they don’t forsee any major incentives happening on 2019’s moving forward as there is very little inventory left. Some of the dealers I have reached out to literally have 5-7 2019 Acadia’s left in stock.
Thanks!
We are one of the most desirable areas to live supposedly.