GM getting out of leasing

[Murminator]

GM is getting out of leasing as of Aug 1 they are raising the rates to 12%



Keep watching there is about 3 or 4 stories about it

 

[rknight111]

If you listen to the report after, Chrysler has allready done this. GM are the BIG players in the auto industry. Now most likely all the other manufactures will follow suite.

 

[Summitric]

SUUURE... GM HAS TO COPY FARGO!!! CAN'T THINK OF ANYTHING ON THEIR OWN. LOL :d

 

[northstar23]

that will send the price of used truck up

 

[shiznitt100]

ya i hope the used market goes up as i am trying to sell my 05 dodge 1500 quad cab,
gm interest rate right now is 0% up to 72 months, they also offer a program like leasing but a BALLON payment at the end of your 60 month or so you choose payments end. so you would refinance this chunk at the end..

you wonder why they are all doing this as at the end of your lease the vehicles are paper weights and not worth the monies left owing on them

 

[northstar23]

ya i hope the used market goes up as i am trying to sell my 05 dodge 1500 quad cab,
gm interest rate right now is 0% up to 72 months, they also offer a program like leasing but a BALLON payment at the end of your 60 month or so you choose payments end. so you would refinance this chunk at the end..

you wonder why they are all doing this as at the end of your lease the vehicles are paper weights and not worth the monies left owing on them

I jumped all over the 0% 72 month and even got a big discount on the purchase price:d

 

[jeremy]

here is the deal, from a gm dealer, it is true, GMAC, not GM, GMAC has suspended leasing. as well as Chrysler credit and I am sure more to follow.

The company that owns 51% of GMAC, (GM owns the other 49%) is also the same company that owns Chrysler Credit. What is the worse brand for depreciation, Chrysler products. take that, add in higher fuel prices, what happens to your used market, it drops. so you set a residual, which affects the payments, the guy returns it, the finance company sends it to auction and they loose their shirt. Combine this with GMAC's involvement in real estate lending down south, and offering a alternative form of financing where you take back the vehicle for a sweet wild ass guess of what it is going to be worth a few years later equals losing $$$$.

What GM and Gmac have done is offer so much 0% and rebates, and lease loyalty, and cash backs, that it is almost cheaper to finance to own, then to lease. I have been playing around with these new incentives, and it is retarded how much money you save financing at 0% due to no interest charges, and how low the payment.

There is a side effect, used values are in the tank. why buy a used when you can buy a new for less payment with warranty up until 160,000, you know where it has been since day one, etc.

 

[shiznitt100]

what kind of a discount did you get? i got 3% over cost (so they say) then with all the tax and bs was almost back to retail. but i guess i did save 7000 ish. i bought 2500 extended cab duramax, so far milage is lower then i expected..
i am roughly getting 20 mpg @100-110km/hr high way, city i see 12-17 depends on stop lights and traffic conditions. on average it stays at 17mpg. towing 4000lbs boat i am getting a horrible 12.5-13 mpg at 100kmph no hills.
i have been told it will improve slightly, also use additives to get better milage as there is not enough sulfur in our suplies here.

hope this helps some one looking for info as i was before the purchase

but on the plus side you dont know you are towing it has so much power and feels empty yet. i like it

 

[northstar23]

I got the 3% over cost so they say deal as well ....how can you trust a car sales men...any way happy with what I got.

 

[JoHNI_T]

I got the 3% over cost so they say deal as well ....how can you trust a car sales men...any way happy with what I got.

trust a car salesman? hmmmmmm.... Jeremy we getting beat down here,
better question can ya trust my Service Department?
the cost of every vehicle is easy to find on the net, ask Jeremy the cost? I could have also helped ya out Shiznitt but ya didnt call... Saturn Saab = GM:d I can build the cost of any product on the market less some high end units with our software its all there, 3% is a fair price IMO, but we have a guy up North we send and buy all our full size trucks from and he gives us $500 dead cost...:d

dont worry be happy ya done good.

 

[jeremy]

you know what the worst part is, the buyers are the lyers!!!!!

We dealers have to disclose everything, and customers not so much.

as far as the 3% over cost, there is lots of different programs where that could be a good deal or a bad deal, and the programs and incentives change all the time, so it depends when you bought it.

you could send me the info and i could check it out for wou.

p.s
do not tell a dealership that you can buy it at the nest place for x amount unless you can, we all talk, we all have access to everyones inventory, and same goes for your trade. don't worry about the values of the price or the trade, worry about the difference, that is the only number that matters!!

and another thing, do not compare a brand new 08 canadian truck, with 0%, full warranty, and able to register in canada, and already here, with a USED truck that is in the states that needs shipping etc etc etc, and teh other thing is, a used us vehicle is worth less then a canadian one when it comes to a trade in. (the vehiles history is almost impossible to track= katrina cars, write offs, etc etc) have one in for out of province as it is US, no warranty as GM found out it was written off due to flood damage, why should they replace a bcm when it has been submerged??

sorry for the rant!

 

[shiznitt100]

oh yes i agree 100% with both you salesmen lol, yes i think i get a fair deal on the truck very happy with the dealership and the salesman (was not the first buying experience with him) very fair, friendly and such. i know how all the dealership stuff works i am a grunt in the back, yes service can and will screw a guy too.
you can not expect stuff for free everyone has to eat, boat and sled lol or they should try.

 

[shiznitt100]

hey germy what kind of milaige are you getting from your truck after it broke in ? how long did it take? i have been kinda asking around and i get alot of different miliage readings from lots of others. i have been told programers will void warr. aswell, hyundai does not care why should gm lol

 

[Haggis]

ya i hope the used market goes up as i am trying to sell my 05 dodge 1500 quad cab,
gm interest rate right now is 0% up to 72 months, they also offer a program like leasing but a BALLON payment at the end of your 60 month or so you choose payments end. so you would refinance this chunk at the end..

you wonder why they are all doing this as at the end of your lease the vehicles are paper weights and not worth the monies left owing on them

What are you pricing the dodge at? I have the same truck - just curious. Seems to me 15K is probably optimistic - have you seen the deals on a brand new Dodge 1500 slt 4x4 quad hemi - very cheap. Makes used hard to sell.

 

[JoHNI_T]

What are you pricing the dodge at? I have the same truck - just curious. Seems to me 15K is probably optimistic - have you seen the deals on a brand new Dodge 1500 slt 4x4 quad hemi - very cheap. Makes used hard to sell.

shiznitts truck is the HEMI sport with 20"wheels and the ground effects package, and yes used trucks have dropped hard. hopefully he can sell it soon, I think you will see demand ramp up a bit here in sept Oct, trucks have been going up again the last few weeks at auction.

try Kijiji its free and I just sold my personal truck on there 2 weeks back, I had more action there then my big add in autotrader for 2 weeks.

 

[shiznitt100]

i gave up on selling it i gave it to my parents, well they took over the payments. i lost huge on it but ohwell atleast they are the ones who have it i feel better about that lol. i am also trying to sell a yamaha r6 2005 13000km new front tire aprox 40 % on rear. black and red colours, bike is mint, never downed, never stunted, 2 small scratches and one on the exhaust, mint mint. please sell i would like 7000$ but any reasonable price around that area would be ok too. have had it sold 2 times but deal always falls apart (loosers)

 

[jeremy]

hey germy what kind of milaige are you getting from your truck after it broke in ? how long did it take? i have been kinda asking around and i get alot of different miliage readings from lots of others. i have been told programers will void warr. aswell, hyundai does not care why should gm lol

well i put about 12,000 worth of stuff, gm performance intake, gm performance exhaust, door sills, truxedo, wheels, etc etc, and a programmer. I bought one at raven on yellowhead from greg. If this programmer causes a problem, they will fight gm or cover it themselves.
it made a huge difference!!! not really in mileage, but it shifts better and quicker which makes it launch better.
actually to be honest, when it comes to mileage, i don't really pay much attention. my thinking has been if i can afford a truck that sells for 54,000 with 12,000 worth of stuff on it, and sleds, muscle cars, boat, etc, if i once dare complain about the cost of fuel, my wife will biotch slap me and tell me to quit buying all this crap.so i just never let her know what i spend on fuel, cost of having fun.

 

[wilkie64]

I am looking for a new chev truck 1 ton long box crew cab with every thing chev puts in them. I was in Medicine Hat at Murry chev the sales man told me $74000 on 0%, and $63000 on bank finance. So how 0% be 0% when it is $11000 Cheaper to not use it. Now I did not run all the numbers, but bank said 7.5 to 8 % from them. I would go with five years, because it is a work truck and need replaced long before seven.:

 

[jeremy]

I am looking for a new chev truck 1 ton long box crew cab with every thing chev puts in them. I was in Medicine Hat at Murry chev the sales man told me $74000 on 0%, and $63000 on bank finance. So how 0% be 0% when it is $11000 Cheaper to not use it. Now I did not run all the numbers, but bank said 7.5 to 8 % from them. I would go with five years, because it is a work truck and need replaced long before seven.:

i will beat that price by thousands. easily. 74,000 is msrp, and then there is a 11,000 rebate. the 11,000 was to deter people from buying in the states, as there is no 0% when cross border shopping. and then there is the 0% for the finance shopper.

my opinion, finance it, yeah you pay more, but you are risking someone elses money. unless you have the cash in a low return investment and want to spend it.

Just come see me, my name is jeremy dally, and i am the new car manager at stedelbauer or call me at 780-476-6221, and i'll make you a stupid deal as I want to unload my 08's with the 09's coming!!!! and we'll email a picture to the dealer that quoted you msrp with you infront of the new truck giving him the royal salute!!!!!

 

[Summitric]

HMMMM, BEING A MEMBER HAS ITS BENEFITS.... GOOD ON YA JEREMY. TAKE A DODGE 3500 DIESEL WITH LOTSA TOYS AND 40000KMS ON TRADE?