Deal or No Deal?

[Cyphix]

Hi Guys, new to the boards. I have been in the market for a LS Tahoe for a couple months now, and with their quarter soon coming to an end they reached out to me to offer their 'best deal'. Being new to owning a Chevy and that I have been out of the lease game for quite some time (owned current car for 8 years) I wanted to get some input on their offer from someone else. Here are the specifics...

Lease: 48 months
Down Payment: $1,000
Lease Rate: 3%
Price: $34,695
MSRP: $40,075
Residual: 47%

Monthly Payment: $432.80

I'm a little held up on them only offering a 3 year bumper to bumper on a 4 year lease even though it does come with a 5 yr 100,000 mile powertrain. So if anyone has any experiance with that as well, your input would be greatly appreciated.

Thanks in advance for the support.

-Cyphix

 

[blairian]

Hi Guys, new to the boards. I have been in the market for a LS Tahoe for a couple months now, and with their quarter soon coming to an end they reached out to me to offer their 'best deal'. Being new to owning a Chevy and that I have been out of the lease game for quite some time (owned current car for 8 years) I wanted to get some input on their offer from someone else. Here are the specifics...

Lease: 48 months
Down Payment: $1,000
Lease Rate: 3%
Price: $34,695
MSRP: $40,075
Residual: 47%

Monthly Payment: $432.80

I'm a little held up on them only offering a 3 year bumper to bumper on a 4 year lease even though it does come with a 5 yr 100,000 mile powertrain. So if anyone has any experiance with that as well, your input would be greatly appreciated.

Thanks in advance for the support.

-Cyphix

That seems like a really great deal to me. I would jump all over that myself, as long as you are comfortable with the payments and mileage restrictions. I wouldn't worry about the warranty too much - it seems like these are pretty bulletproof, and on top of that, it's a lease! If anything goes wrong with it after the 3 years, you'll almost be out of the lease anyways.

I can't help but ask - for that price that they are offering, why would you not look at purchasing? If you had a similar interest rate for 72 months your payments would be near to that same price - and you'd be owning it...

 

[Cyphix]

Thanks for the reply, turned out to be a bait and switch.

I arrived promptly to the dealer the same day they called, they tried to upsell me into a different model car, then tried to put me in a color I didn't want. After that it turned into a 'you have to come back tomorrow for credit check since our financial officer is no longer here'. I returned the next day and they upped my rate where my payments went from $430 to $470 due to my credit. I went home to think about it and to give them a chance to lower it, but when that didn't work I went back in the next day after swallowing my pride and willing to pay the increase. Then I was told that the quarter had ended that day and new rates are out and my payment now is $520/month (which is what I was normally quoted when I went there 4 months ago).

I stormed out of there, went to a local Chevy used car lot, and bought a 2011 LS w/ convienence package and am very pleased.

I will post pictures in a new threat in the coming days!

-Cyphix

 

[blairian]

Thanks for the reply, turned out to be a bait and switch.

I arrived promptly to the dealer the same day they called, they tried to upsell me into a different model car, then tried to put me in a color I didn't want. After that it turned into a 'you have to come back tomorrow for credit check since our financial officer is no longer here'. I returned the next day and they upped my rate where my payments went from $430 to $470 due to my credit. I went home to think about it and to give them a chance to lower it, but when that didn't work I went back in the next day after swallowing my pride and willing to pay the increase. Then I was told that the quarter had ended that day and new rates are out and my payment now is $520/month (which is what I was normally quoted when I went there 4 months ago).

I stormed out of there, went to a local Chevy used car lot, and bought a 2011 LS w/ convienence package and am very pleased.

I will post pictures in a new threat in the coming days!

-Cyphix

Not a problem. I'm sorry to hear that they were jerking you around like that. I would have walked as soon as I heard any type of wavering in what they told me over the phone. I feel like if you can't stand by your words and what you tell me, then I don't want to have anything to do with you - especially business wise.

You can't help the credit jumps, but it is what it is. I have never really understood that theory anyways. Let's charge someone who doesn't really have the history or proof that he can pay for it even more for the same product and see what happens. High risk is usually only high reward on investments if you ask me.

Congratulations on the purchase! How many miles are on it? Look forward to seeing some pictures of it!