anyone know an idea how much its to lease a new silverado ext cab? Im thinkin about buying a new truck and with how much $ ive been loosein im thinkin about looking into a lease... thanks
lease truck
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C
CuzzinOlaf
Active member
I have heard that even the interest rates on a lease have gone up. Did you check into payments?
hmmm.... have to figure this out...
GMAC doesn't lease anymore.
buy used...pay cash 
It'll save you a ton 'o money in the long run.
Seriously, rarely have I seen an autombobile lease be a good deal...
BroT
It'll save you a ton 'o money in the long run.Seriously, rarely have I seen an autombobile lease be a good deal...
BroT
GMAC quit leasing trucks a couple of months ago. All of the incentives are based on purchase financing over the long term with little or no money down and zero or near zero percentage rates. If you're paying cash for HD trucks, there are retail delivery credits (in Canada) of up to $11,000.00 on Diesels. THere are still companies that will lease a GM vehicle. Rates are going up though. The biggest single reason why GMAC is getting out of it is the hit that they are taking on the residual values of the trucks when they come back. If you leased a 50 thousand dollar truck for 2 years at 24000 KM a year and it comes back 2 years later with the correct milage, there is a huge difference between what GMAC "forecasted" the residual to be and the actual market value in today's uncertain times. GMAC has to guarantee the residual value. The customer could purchase the same used truck cheaper on the open market so they turn the truck in. GMAC gets the truck picked up, taken to one of their auction sites and it gets sold for what the market will bear. If they thought that the truck was worth $28,000.00 and the auction raises $18000.00, GMAC loses the $10,000.00 difference. FOrd and Dodge are also in the same boat.
buy used...pay cash
Seriously, rarely have I seen an autombobile lease be a good deal...
BroT
Leases can be a good deal if you are absolutely honest with yourself when it comes to the mileage. If you drive 30K a year and you're payment driven so you take a 20K a year lease, you're paying at the end.
A lease is simply the orderly repayment of depreciation on the truck. In order to have a valid opinion of that value, they need to set the mileage parameters and length of the lease in order to calculate the residual value. In Canada, you only pay the sales taxes on the payment. Some customers likes the idea of not having to cut an extra $5500.00 on a $50,000.00 truck just for the tax man. If you have a company and you can write it off, 100% of your lease payment comes off of your taxable earnings. If you purchased the truck , the first year's capital cost allowance is good. The next year it's OK, after that it's almost nothing. CHeck with your accountant about leasing versus purchasing if you use the truck for business.
i dont know what to do... im thinkin holding out and hopefully stealing one after the economy continues taking a toll or everything... New from the dealer found one at $21,500... private partys selling them at 32,000.....
A
Abominable
Well-known member
Hang on just a little longer, NADA is lobbying hard to get congress to appropriate some of the 700b bailout money to subsidize auto loans on American made autos at 0% for 60 months. If it passes hat would mean you would still get all of the manufacturer's rebates AND 0% financing, that would beat a lease deal anyday.
Why are you looking at leasing vs. purchase?
I said screw it and bought an 08 today... Got a pretty decent deal i think.. buy a 98 with a ton of miles for 1/4 the price of an 08 new..... now i dont have to worry about replaceing the tranny or fuel pump. etc....
