Looking to get into a 2023 Tahoe (RST or Z71) or Yukon (SLT or AT4) in February or March. For background, I have a 2020 Buick Enclave Essence ST (all black) that is under mileage (25k/30k) and lease is due 4/15/23. I have an employee discount and have been able to get 13-14% off MSRP on my last two GM leases with mo payment around 1% of MSRP. Current payment is $485/mo with first mo payment due at signing (MSRP was $50,645). In October, I went to my dealership after they called me and told me they wanted my car and could get me in the same car (2022 model year with same package MSRP $51,555) for a similar payment, but when I went in the guy ghosted me and they told me my new payment would be $897/mo with employee discount and $2,500 lease loyalty!!! Iām in finance and understand how leases work, but walked out of there scratching my head. Residual was unchanged from my last lease (62%) and I saw a discount of $5,600 so the only other thing they could have been doing is messing with the MF or maybe they put in a hidden markup? Guy told me he couldnāt sell it under $750/mo without losing money so I just walked out of there pissed off after an hour and half of waiting around.
I know February incentives are probably just about to come out and have heard that best incentives are usually at month-end or quarter-end. I also know that inventory is not great on Tahoe/Yukon but seems to be getting better. Iām in west Chicago suburbs but am originally from Detroit and have family there so would be willing to make the drive if deals and inventory are better there.
Iām targeting under $72k MSRP price point and looking for leather, moonroof and second row captain chairs. Black/White/Grey preferred color. With the employee discount, is it possible to get better than 10% off MSRP under current market conditions? GM family first is showing 9% discount from MSRP and there is a dealership in Detroit that is marketing 9% discounts for employee/family program without haggling. I know the Chicago market will be more difficult given tighter inventory. What can I expect for a lease payment? I know with interest rates where they are, getting 1% of MSRP mo payment is not feasible but is it possible to get below $900/mo with first mo payment due at signing? Or am I dreaming? I have a feeling they are going to tell me $1,200/ mo or something which in that case I would be better off buying. We donāt put a lot of miles on our vehicles so 10k/yr lease is all we need and prefer not to purchase. Any help from the community would be greatly appreciated!!!
If it matters to you, believe the Tahoe and Yukon are due for a mid cycle refresh for MY2024. I can also say with a degree of certainty (because I looked at them in January) that itās difficult to find Z71 and AT4 inventory, especially with the 6.2L V8 - it blows my mind that people buy these trims with the 5.3L.
GM refreshes their garbage about as frequently as many on here cycle through vehicles.
Iād be willing to bet that a fair majority of owners have no idea what they have for an engine. They just know theyāre driving their fancy new Tahoe/Yukon.
Is this dealer discount, or inclusive of dealer discount and any available incentives? What are the current incentives?
How are they handling the sales tax, doc fee, etc. (rolling in or collecting upfront)? What is buy rate on the MF?
Might help get better feedback if you post a calculator link to the deal as itās been offered. Otherwise everyoneās just guessing at some critical details.
Kind of irrelevant since this was back in October and on a 2022 Enclave but there was a $2,500 lease loyalty at the time and I have employee discount. Probably some other smaller incentives available at the time but the total discount was $5,600. Residual was 62%. Did not disclose MF. Yes, they roll in all taxes and fees into monthly payment. Same as my last lease in 2020 that was $485 for the same Enclave with same 62% residual. Iām looking for a Tahoe or Yukon currently. Not another Enclave. Just provided for context that I donāt have a good feeling negotiating with dealerships right now. No transparency or trust which is unfortunate considering I got my last two leases from them.
Whatās wrong with the 5.3L? Is it just considered underpowered relative to vehicle size? 6.2L requires premium which is at least another $30 per fill up. Maybe some people are okay with the 5.3L if driving a lot of miles and filling up often? As long as the 5.3L tows well I donāt see the need for the 6.2L other than the flashy exhaust, unless you are lookin to race your Tahoe/Yukon or something lol!
TDLR; Catastrophic lifter problems and continued issues w/ active fuel management (AFM) nonsense. (they had to rename it to DFM because AFM is so bad).
This engine does nothing well, it does everything āunremarkable.ā The 6.2 or the 3.0 diesel are both superior engine options in almost every way, except cost. Donāt understand the point of spending $70K+ ā but not spending another $1000 to $2000 on a superior engine.
If you are in āfinanceā why arenāt you reverse engineering the deal they are offering into a calculator link to make sense of it and to see what is āhighā and what you might be able to negotiate? MFs are pretty high on Edmunds.
Also you must know you are effectively being taxed twice rolling taxes into a lease in IL as a function of the monthly payment.
I did āreverse engineerā their offer when I got home and they used at .00506 MF (12.14%) to get a $897 mo payment on a $51,500 vehicle. Leasehackrās calculator is showing me .00208 MF (4.99%) for a $642 mo payment which I would have been fine with, but they were no where near that. Not sure I understand double tax rolling into mo payment on a lease in IL? What are buyers options to avoid that? Any way, Iām not looking to get into another Enclave. Looking into leases on a Tahoe or Yukon and what that market might look like currently.
Well, look at Edmunds lease forum too for MFāsā¦also, maybe they arenāt passing along the savings to MSRP you think they areā¦and Iām sure they are marking up the base MF as much as they canā¦or maybe they are even using an external bank with higher rates and bigger payoffs to themā¦
I just saw you said they rolled taxes and fees into the leaseā¦if you roll any taxes (say on cap reduction) into the lease you will paying ātwiceā since the lease payment itself is being taxed. Basically you will be paying interest and tax on top of any tax rolled into the payment.
