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#1 (permalink) |
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3.8 Liter V6
Join Date: Aug 2007
Location: Windsor, ON, Canada
Drives: 1995 Jimmy 2wd 4door (Envoy-fronted, Caddy-tail'd)
Posts: 434
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No more leases...for GM too???
I dont have anything online that I can cite from, but, was just informed by a sales manager who just got finished watching an IDL brodcast that as of July 31, GM is done leasing (just like Chrsyler LLC).
Well, I should say, that there will no longer be any lease 'Programs' (ie, 0.9%, 1.9%, ect.) If you want to lease, expect to be paying upwards of 10-14% interests rates. Most every other vehicle will now have 0% financing for 72 months... Dont know how this is gonna play out for you US customers though. As a point of interest, Chrsyler LLC pulled its low interest programs on its products here in Canada on July 1 and supllimented them with 10-14% rates (and now, they are totally out of the leasing game come Aug 1 it seems) |
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#4 (permalink) | |
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6.0 Liter LS2 V8
Join Date: Sep 2003
Location: Midwest
Drives: 07' Monte Carlo SS
Posts: 4,122
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Re: No more leases...for GM too???
Quote:
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07' SS Monte |
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#5 (permalink) |
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3.8 Liter V6
Join Date: Feb 2007
Location: Golden, CO - Home of Coors
Drives: Jeep Cherokee; 3.5" Lift
Posts: 364
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Re: No more leases...for GM too???
If any of these rumors are true, it would be GMAC that is done with leasing. Wells Fargo, in addition to leasing companies, still offer programs. Still big news but leasing isn't going away.
Last edited by BryceStrong : 07-28-2008 at 01:29 PM. |
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#6 (permalink) |
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6.0 Liter Vortec V8
Join Date: May 2005
Location: Flint MI
Drives: 08 Enclave
Posts: 1,884
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Re: No more leases...for GM too???
story now is that your 5 yr buy pyt is your 3 yr lease pyt. confirmation later today. how much more stupid stuff and Red Ink do we need to see before RIR is thrown out?
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Buickman Founder www.GeneralWatch.com It's not sunk, but's its definitely sinking. We don't need a Volt, we need a Revolt! Aristotle "A is A" Wagoner "BK is OK" |
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#8 (permalink) |
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5.3 Liter Vortec V8
Join Date: Jan 2003
Location: Pensacola, Florida
Drives: '07 Corvette Z51
Posts: 1,472
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Re: No more leases...for GM too???
This will have the effect of just another hurdle to selling cars in the US. I know people who ONLY lease.
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GM better hope the Volt is a runaway success, because all the eggs are in that basket!
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#11 (permalink) |
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3.8 Liter V6
Join Date: Aug 2007
Location: Windsor, ON, Canada
Drives: 1995 Jimmy 2wd 4door (Envoy-fronted, Caddy-tail'd)
Posts: 434
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Re: No more leases...for GM too???
You are correct, it is GMAC that is done leasing...you can still go bank lease rates, but, they are not very competitive at all (around 12% here in Canada)...
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#13 (permalink) |
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3.8 Liter V6
Join Date: Aug 2007
Location: Windsor, ON, Canada
Drives: 1995 Jimmy 2wd 4door (Envoy-fronted, Caddy-tail'd)
Posts: 434
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Re: No more leases...for GM too???
Yeah, I just this moment lost a GM Employee Order.
I was gonna order order him a 2009 G5 SE 1SB in expectation that when the car came at the end-to-mid September that programs would be comparable to now (maybe a point increase interest or a point or two drop in residual, but, generally, close to now). At that point, we could use the $2600 CAW incentive that goes into effect Sept 16 ontop of Employee Order. And now, he can order today and be price/rate protected, but, unable to use the CAW incentive (aka BUZZ) in September as it was not available under todays programs (which increases his payment about $50/mo over what I quoted). OR... He can order now and use the BUZZ in September, but, would have to use the NEW programs which means like 14% rates which means his payments go up alsmot $150/mo! |
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#14 (permalink) |
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6.0 Liter Vortec V8
Join Date: Oct 2006
Location: Montreal,PQ - 2006 Saturn Vue V6 !
Posts: 1,907
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Re: No more leases...for GM too???
I currently lease a GM vehicle but if I can't lease another one I will look at another brand. I know what I can pay on a lease per month and am not willing to own a GM. GM is gonna lose big time on this one.
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__________________
'87 Merc Tracer '88 Toyota Tercel '89 VW Golf '94 Saturn SL '97 Pontiac Grand Am '00 Olds Silhouette '02 Dodge Intrepid '04 Chev Malibu '06 Saturn Vue |
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#15 (permalink) |
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6.2 Liter Vortec V8
Join Date: Apr 2003
Location: Daytona Beach, FL and Upstate NY
Drives: 2008 Saturn Vue Redline
Posts: 2,628
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Re: No more leases...for GM too???
Unless, of course, this will eventually trickle down to all other auto companies. I have always purchased, not leased, so I don't know all the ins and outs of the program...but if you can only lease a GM or Chyrsler vehicle through outside programs from now on (banks) and if the rates go up 10%....I dont' think Honda and Toyota and Ford are going to stand around and see money left on the table by keeping their lease rates the same. If it is going to cost you 10% more to go to outside sources to lease a GM or Chrysler vehicle...I'd be willing to bet that most other auto manufacturers will increase their lease rates 5-8% at least.
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