Leasing a GMC Sierra or Silverado

Hello Friends,

Please help. Im in Denver, CO. I am a current GMC lessee with 790 Credit.

I just saw an ad for a 2020 Sierra 1500 for $320/ mo for a 47k MSRP(10k/year/ 36mos/ $0 down) http://www.realcartips.com/gm-incentives/
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The Sierra 1500 I want is the diesel model with a $57k Msrp- Crew Cab Elevation Black on Black on Black. Based on ad, I contend payment should be around $400/ mo. I am laughed at. And while I don’t expect to get that great of a deal, it is a starting point for my negotiations.

After over a month of going back and forth, what I really want to know is if $605/ mo for 36 mos and 10k miles on a $57,295 MSRP Sierra 1500 Elevation is a reasonable deal? Based on the 10% rule that I learned here–$570/mo is the highest I’d want to pay for what I want-- 24mo/12k milles.

Let alone this monstrosity of an offer for a Silverado that I attached… How would you even respond to this?

But, simultaneously, I wrestle with the fact that I may be completely out of touch with my expectations. My knowledge/ experience with leasing 50k+ autos is ZERO. Hence why I am so thrilled to have found this site and hopeful folks will share their knowledge and wisdom.

I want to finalize this week and if they would do 24mos/ 12k miles on the aforementioned Diesel for $605/mo, Id definitely sign. Am I an idiot?

Do I need a broker?

Gratefully,
Evan in Denver

What you need to do more than anything is step away from talking to dealers and spend some time researching. Get all the info from Edmunds for RV/MF/incentives and look through as many comparable deals here as you can to determine a target pre-incentive discount. You need to figure out what the truck should lease for before you even consider talking to a dealer.

Dealer ads are notoriously inaccurate to base a price off of as they generally leave out a ton of fees and taxes and include incentives you don’t qualify for. Also, going off the “1% rule” is a very poor way to determine what something should lease for.

Dealers in Colorado aren’t discounting silverados like they were a couple months ago due to the fact the supply is low. I would wait as paying MSRP for a Silverado is insane. In a few months things should normalize and the dealer will stop treating their mass made cars like Bugatti’s

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I’d wait it out and extend your current lease if need be.

Thanks for the info guys.

I feel like I have done a fair amnt of research to arrive at an asking price to dealer’s. I can give them all the facts that determine how I got there, but they don’t care. They’re gonna get what they can get and as a business owner myself, I have to respect that.

For example, this guy’s deal-

2020 GMC Sierra Elevation Crew cab 53k sticker 36/15k $438- month deal check

My holy grail right now.

Any opinions on this one?

Thanks again.

@APFam Have you thought about shopping outside of Denver u may have more luck?