Please help evaluate this 2018 GMC Terrain Lease

Hello, first time posting an evaluation request. Please forgive me for missing/incomplete data. Be gentle on this noob!

2018 GMC Terrain SE AWD
MSRP: $32,370
Sale Price: $31,046.75 [4% off] (this is what they told me they could do as part of the GM Supplier for Friends program; they said that was better than GM Employee discount which I qualified for thru father-in-law.)
MF: .00135 [3.24%] (We have excellent credit)
Acquisition Fee: $650
Document Fee: $187.50
Rebates/Incentives: $6,800
24 month/12,000 mile with a 65% residual
I believe 8% Sales tax in NY (for my county).

Payment: $294.xx with $550 at signing (which includes first payment)

Thoughts? Am I missing anything? Ok deal? Bad deal? Great deal?

that’s quite a “friend” at 4% off…it’s not even worth discussing

Does the $6,800 include bonus cash from the auto show?

Also, 4% off is paltry. Admittedly we’ve just started the new fiscal year, but I would think a minimum of 7% off would be what you should shoot for, regardless of supplier discount.

@DRodes I’m not sure what it all entails. I’m admittedly pretty bad at negotiating as it is a new art to me, so I don’t always know the right questions to ask. I also am not very bold, so it’s difficult for me to try and counteract a salesman’s act. The payment they came up with for me is ~30 less than what we have now and they told me it’s their best deal, but I certainly don’t expect them to tell me it isn’t their best. I had already told him it sounds good to me and I want the car but I haven’t signed the paperwork yet. Do I just go back and tell them I want 7%? I don’t have much leverage as I’m sure they’ll tell me they can’t.

Also, the salesman has repeatedly told me that with the GM Supplier Discount or Employee discount, the programs are there so that you don’t have to/need to negotiate and do all that crap. I don’t know enough about this to know if that is true or not, so I definitely need help!

Again, sorry to all the pro’s here, but give this beginner some slack!

this is a big trap many people fall into. In other words “as long as it’s cheaper than what we currently have it’s pretty good”. I don’t blame you for thinking like that but also a 4% discount is laughable. Good car negotiations are somewhat of an art, a lot of work and a lot of headache in the car leasing space. There’s a lot of threads on this forum on how to reach out to dealers and negotiate. In the alternative you can hire a broker here who will save you all this headache. @nyclife is a reputable broker in your area if you decide you want to use one.

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With pretty rare exceptions 10% off MSRP before rebates should be your minimum starting point on any Buick/GMC/Chevy. The true cost on one of these after you subtract holdback and all that other good stuff is probably around 29k, so don’t let them tell you that they are losing money knocking 10% off. At worst it’s a break even that they will make up for on the back end with their bonus (assuming it is hit, so bigger dealers can be better targets sometimes), as well as banging the next jamoke who comes through the door twice as hard to make up the difference. You need to shop around and get multiple quotes. Find out the selling price before rebates and counter with what you want.

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Yeah shop around. Not that great. The rebates are what they are regardless of where you go in the state. It’s the price of the vehicle that matters. Those GM supplier and Employee deals aren’t always the best. They’re good and they do eliminate THAT portion of the deal haggling for most people but then there is trade (if any), MF or rate, down payment, term… there are a lot of variables.
I’d say:
I’m willing to sign a deal with you right now for the following:
10% off MSRP (not the dealer posted price, but FACTORY MSRP)
Minus all applicable rebates and please itemize (ID) each one and the value of each
Not being too pushy or greedy seeking that.
Listen, they will have literally hundreds of people if not thousands to attempt to make bank off. It doesn’t have to be you.

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Also, to add what @305Hackr has said, take a look at the other threads from last month on that same model. I believe there are 4 or more threads. That should give you an idea of what price others have paid. Use those examples to give you an idea of what your payment should be. It might not be exact, as the incentives and rebates vary and also the state of residence vary but it should still be way less that the first quote you have received.
Also, have you punched in the numbers that you posted on the LH calculator? Try it out, and then play with the sale price to see how much of a difference and then target the dealer with that sales price or closer.

Thanks! I’ve read at least a couple threads there about them. I have used the calculator and it isn’t coming up with the payment I was told, so not sure what I’m doing wrong, sadly.

Here’s what I punched it, which is close:

P.S. did they quote you for 12 months, 24,000 miles or is that a typo? (I used 24 months/12k miles for the link.)

Edit: wrong link.

Garbage you can do better

I’ve backed out of this deal and will try for a better one equipped with some of the points you all have made. Thanks!