579/mo includes Nassau County 8.625% tax. No cash to dealer@signing effective payment $563/mo.
36mo/15k miles Traverse RS, 4k incentives (chevy $2k, loyalty $1.5k, educator $500). Lease Equity of $5,256. Calculator link below, couldn’t get it to do sign and drive but i did not pay the dealer anything @ delivery, just $579/mo for 35 payments giving effective $563 for 35 months. Far from an amazing deal but was able to reserve the car about a week ago and it landed this past friday, $1k markup and decent offer on the old 2019 traverse 3LT $35k for a car with an accident on carfax and 35k miles on it.
You actually paid $5,276 down for an effective payment of $708/month.
Why not finance the Traverse? A 72 month loan on $40,000 ($49,000 MSRP- $5,000 equity- $4,000 rebates) would have been ~$600 month and would have given you a ton of flexibility.
that’s an ok way to look at it, don’t want to own a car, market over next few years unpredictable and tend to have a few accidents on my leases which can really bang up resale price. Any other semi-local chevy dealer was at 32.5k and with no 3rd party buyouts i took it, add that i was quoted between $3k & $5k over msrp at several of the local dealers as well. Extension of the old lease would have taken me to $545/mo, now i’m at $563/mo with better equipment, a new car, and live to fight another day if market stays hot for another 3 yrs can try again.
And if the market doesn’t stay hot, when you go to get out of this Traverse, you’ll likely be very underwater. It is too late now, so I guess just enjoy the vehicle. I can’t accept putting nearly $5,300 down to still pay $563, which is actually not your effective payment. You just signed up to pay over $700/mo for a sub-$50k vehicle, which was also marked up $1,000 nonetheless.
Not to harsh your mellow but a month ago i got a quote on a RS Traverse and was looking at 485/mo with only 1st month at signing, had you come and asked us before singing, you would’ve been better off but no matter what enjoy the car!
