(I know this is a Volt/GM plug-in forum, but a lot of us still need a 2nd car/family hauler to compliment the Volt, so putting this out there)
Quite a few of us (including myself) took advantage of the Great Cruze Giveaway last year, aided by ridiculously cheap lease rates along with the even more ridiculous $2,500 Volt loyalty incentive. People ended up getting Cruze leases for $37 bucks a month, and in some cases MADE money due to the Costco gift card offer.
While there is no Cruze giveaway going on this year, the Equinox is in a very similar situation to the Cruze Limited of last year. The next Gen 2018 Equinox has been announced, and thus the current Equinox is more or less a lame duck at the moment. Accordingly, GM is running some pretty aggressive lease incentives on the '17 Equinox right now.
Here's the breakdown for a 2017 Equinox LS @ MSRP $25,420. People have already reported scoring $30k LTs for about $150/month (in FL), and I believe it is possible to get a barebones LS for ~$100/month if someone qualifies for every incentive.
2017 Equinox LS, MSRP $25,420
Lease term: 24 months/10k miles a year
Money Factor: .0007 / 1.68%. If you have the dealer waive the $595 lease acquisition fee for .00055 MF bump, MF becomes .00125
Residual: 66%
***Dealer discount: at least $3k (this is a hurdle. People have confirmed of receiving at least $3k off, but some dealers will not go that low, so you may need to hunt)
Incentives:
Capital Cost Reduction (base lease cash): $1,700
Select market incremental CCR: $750 (AZ, MD, FL regions have been confirmed. TX qualifies for $1k)
Bonus tag: $750 (find bonus tags via Chevy.com inventory search by plugging in zip codes of local dealers)
***Chevy lease loyalty/competitive lease conquest: $1,500 (this is the big one. Any current Chevy lease holder or competing brand lease holder qualifies. A Buick/GMC/Caddy lease holder only qualifies for $500)
Total possible incentives: $5,200 ($1,700 + $750 + $1,500 + $750 + $500)
ALSO, for anyone that was a Costco member as of 30 September, you will also qualify for a $700 Costco gift card (just need to upgrade to an executive membership if you aren't already. Costs $55 or less if you are near renewal time). For people who were members as of 30 Sep, that's another $700 in your pocket.
So doing the math, this is the final tally for an MD dealer I confirmed will honor the above (MD taxes the entire purchase price on a lease....bastards)
$0 down (GM Financial covers first month's payment)
Doc fee: $300
Reg/title fees: $299
Tax: ~$1,400
Final monthly payment: $154 x 23 payments (in a state that has 6% tax that only taxes the monthly lease payments + incentives, it comes out to around $115/month)
Factor the $700 Costco card, and the effective monthly payment becomes $129/month (or $86/month in a state that taxes the monthly such as FL)
For a state that taxes ONLY the monthly lease payments and incentives, an effective sub-$100/month, $0 down lease is entirely possible on a barebones LS.
See https://forum.leasehackr.com/t/2017...deals-for-ls-model-available-florida/4582/104 for more details. Happy hunting!
Quite a few of us (including myself) took advantage of the Great Cruze Giveaway last year, aided by ridiculously cheap lease rates along with the even more ridiculous $2,500 Volt loyalty incentive. People ended up getting Cruze leases for $37 bucks a month, and in some cases MADE money due to the Costco gift card offer.
While there is no Cruze giveaway going on this year, the Equinox is in a very similar situation to the Cruze Limited of last year. The next Gen 2018 Equinox has been announced, and thus the current Equinox is more or less a lame duck at the moment. Accordingly, GM is running some pretty aggressive lease incentives on the '17 Equinox right now.
Here's the breakdown for a 2017 Equinox LS @ MSRP $25,420. People have already reported scoring $30k LTs for about $150/month (in FL), and I believe it is possible to get a barebones LS for ~$100/month if someone qualifies for every incentive.
2017 Equinox LS, MSRP $25,420
Lease term: 24 months/10k miles a year
Money Factor: .0007 / 1.68%. If you have the dealer waive the $595 lease acquisition fee for .00055 MF bump, MF becomes .00125
Residual: 66%
***Dealer discount: at least $3k (this is a hurdle. People have confirmed of receiving at least $3k off, but some dealers will not go that low, so you may need to hunt)
Incentives:
Capital Cost Reduction (base lease cash): $1,700
Select market incremental CCR: $750 (AZ, MD, FL regions have been confirmed. TX qualifies for $1k)
Bonus tag: $750 (find bonus tags via Chevy.com inventory search by plugging in zip codes of local dealers)
***Chevy lease loyalty/competitive lease conquest: $1,500 (this is the big one. Any current Chevy lease holder or competing brand lease holder qualifies. A Buick/GMC/Caddy lease holder only qualifies for $500)
Total possible incentives: $5,200 ($1,700 + $750 + $1,500 + $750 + $500)
ALSO, for anyone that was a Costco member as of 30 September, you will also qualify for a $700 Costco gift card (just need to upgrade to an executive membership if you aren't already. Costs $55 or less if you are near renewal time). For people who were members as of 30 Sep, that's another $700 in your pocket.
So doing the math, this is the final tally for an MD dealer I confirmed will honor the above (MD taxes the entire purchase price on a lease....bastards)
$0 down (GM Financial covers first month's payment)
Doc fee: $300
Reg/title fees: $299
Tax: ~$1,400
Final monthly payment: $154 x 23 payments (in a state that has 6% tax that only taxes the monthly lease payments + incentives, it comes out to around $115/month)
Factor the $700 Costco card, and the effective monthly payment becomes $129/month (or $86/month in a state that taxes the monthly such as FL)
For a state that taxes ONLY the monthly lease payments and incentives, an effective sub-$100/month, $0 down lease is entirely possible on a barebones LS.
See https://forum.leasehackr.com/t/2017...deals-for-ls-model-available-florida/4582/104 for more details. Happy hunting!
