Found a 2019 GMC Sierra that’s holding to a dealer price comparable to 2020 units; so in hopes of getting a solid MSRP discount in requesting a lease, they tell me “GMC no longer leases 2019s”
This a standard practice? BS? Looking for rationale and just learn from it if anyone has intel to share.
Dealers don’t determine lease support for previous model years. GM Financial does. And they are correct. 2019’s are no longer being leased through GM Financial. However, you can have them check with either US Bank or Ally.
Appreciate that quick insight, and good reminder its the leasing entity and not the dealer.
For other leasing institutions, can i inquire or is that something a buyer usually asks the dealer to explore?
You can research ally bank residuals via their website. But they don’t post their rates. Your best bet is to inquire with the dealership about leasing through those banks and research what incentives you qualify for.
The likelihood an ally/usbank lease would be worth it at this point on a GM 2019 anything is slim to none, assuming either of these 2 banks are even leasing it. GMs don’t hold value well, so it would not be smart business for them to lease a 1 model year old car at this point. If they did, expect a rather low RV and higher MF to hedge their bets, and make the lease look awful in comparison to a 20.
Look at the 2020s at this point if you want to lease or buy the 19 at a discount.
Likewise, the dealership you are working with would have to have a relationship with either of these 2 banks, which is not an automatic given.
If i consider a purchase on a 2019 model, what range of disocunt should i be shooting for? Pre-incentives?
Vehicle in question is currently listed 6% off the MSRP
GM is going to be tough. There is not much padding between MSRP and invoice, so many of them aren’t willing to dip far. If they started at 6% off though, they’re not likely to come down far enough to make it worth your time. I’d move on.
Not surprising, I was looking at a Cadillac at one point last year and the dealer told me in November for the same model year that lease support had ended.
Yeah, GM seemed to extend it a month or so longer than usual this year. IIRC, some lease support on GMs actually started ending at the end of Sept last year…definitely October with some stragglers carrying into November.
You can go deeper than 6% on discount. Are you looking at a Denali? Residuals are strong for 2020 1500 Denali and the money factor dropped this month. It all lies on finding a dealer with motivation to move units.
Looking at the AT4 trim, which unfortunately doesnt have as strong an incentive package…
With their 0% apr for 72, I mean if it’s free money to borrow also considering purchasing the 2019.
Decisions decisions…