Looking to lease 2017 Sierra Denali

Ianwelch001 · January 9, 2017

Been looking to lease a Sierra Denali because the rates are very good right now and the residual is very high.

Best deal I've gotten is $559 a month with just first month payment due to drive off. Msrp is 64,105

Thoughts??

Thank you

cbrsilv15 · January 9, 2017

Money - you got it, spend it how you like.

Barbarrino · January 9, 2017

That is better than my deal, I am at 599 a month. Great Truck though. Just don't drive an Eco boost or you might want one.

diyer2 · January 9, 2017

You asked.

Do you rent a place to live also?

Your money.

Ianwelch001 · January 9, 2017

Only ecoboost I'd want is the raptor lol. I love the rumble of the 6,2. Dealership also had a white Denali demo with brown interior and silver 22" wheels msrp was 65,400 and since it was a demo they said $529 a month with just first month due

dirtfan21 · January 9, 2017

Let me get this straight, $0 down payment with first payment due at signing, and the lease is only $599 a month on a $65k truck? What are the lease terms, years and miles? What is the residual and money factor?

I almost leased a new truck a few months back and made a spreadsheet to understand the numbers better. I'll be honest, I change trucks like I change my underwear so I figured I'd look into leasing, since everyone said it was perfect for me. What drove me away, for the time being anyway, was that in a 39 month lease, at $500 a month, I'm spending $19,500 to rent a vehicle. I just couldn't stomach that only to drive a truck I couldn't afford to buy new or used.

Some people don't have a problem with that, just like renting an apartment instead of buying a house. If you are comfortable with the renting and not gaining equity, I say do it. Hell, we only live once and if you can afford it, I say go for it.

Ianwelch001 · January 9, 2017

I own my house motorcycle and boat. Could I afford to buy it? Yes. I get very bored driving the same thing for to long. Is 19k a lot to rent a truck for 3 years? Yes but because the residual is so high on denalis it's cheaper to lease than it is to buy and only keep it for 3 or 4 years and trade it in. The residual for 39 months is 67%. If I were to buy it and decided to trade it in in 3 years I would have to hope to get at least $43,550 for it which realistically isn't going to happen. Gmc has the residuals so high on the denalis it's cheaper for someone like me who likes to get into something new every 3 years by leasing it than buying it and trading it in.

Edit: money factor is 1.42% or .00057 and the residual for 12k is 69% for 36 months

Silverado Steve · January 10, 2017

The problem with leasing is everyone uses the MSRP as a starting point as overall value. In this instance $64,105; reality says you can easily purchase this truck for $55K. After 3 years the real valye of your truck minding you taking care of it is say $41K or a loss of $14K in value vs the $19K you will spend onlease payments. The question you have to ask is it worth $5K for the convenience of having a mileage restriction and the limitation of modding a leased truck? Since you acknowledge trading in more than you change your underwear, leasing does warrant looking into, but keep in mind, you never come out ahead financially leasing. You're much better off buying a vehicle that retains its value vs leasing; however only you can answer what your comfortable with financially. Good luck.

RHStansbury · January 10, 2017

If you prefer a lease, you won't find a much better deal than Denalis. GMC has inflated the residual a good bit, and if you aren't planning on buying at the end you'll probably do pretty well. Truth be told, I would have probably gone that route had MD taxes not been ridiculous on leases. I was going to just pull the equity from my old Tahoe and put it to work for me elsewhere for a few years while I drove the leased truck.

Edmunds.com has a specific 2017 Sierra lease topic in their buying/selling forums that is full of information. Post up your info there, and they'll tell you if there's any more room. Just need to know length of lease and miles per year. From your post, I'm assuming you're looking at 39/15K.

Jerry's Denali · January 10, 2017

Real world math:

I purchased a 2015 Sierra Denali (MSRP$64108), paid $53111 and drove it 19 months/18000 miles.

Sold it for $50800 the first day the ad was on Autotrader.

$2311 to drive it 19 months.

Mike84 · January 10, 2017

You don't make out financially purchasing either

Sent from my iPhone using Tapatalk

Dnt · January 10, 2017

Been looking to lease a Sierra Denali because the rates are very good right now and the residual is very high.

Best deal I've gotten is $559 a month with just first month payment due to drive off. Msrp is 64,105

Thoughts??

Thank you

You mentioned earlier that you had your house paid for well chit man go get yourself a HELOC at sub 4% interest and go work a wholesale deal on a truck and drive it until you get bored and then go do another one when ready why lock yourself in with a nest of thieves on a lease contract? Believe me they know the game a lot better than you and the gambling house always wins in the long run

Doobs41378 · January 10, 2017

You mentioned earlier that you had your house paid for well chit man go get yourself a HELOC at sub 4% interest and go work a wholesale deal on a truck and drive it until you get bored and then go do another one when ready why lock yourself in with a nest of thieves on a lease contract? Believe me they know the game a lot better than you and the gambling house always wins in the long run

Why not just go to the credit union and get a loan for sub 2% ( around here ) and not tie it into the house, just in case something happens you would hate to lose the house because you couldn't pay that HELOC back. Just my thoughts.

CRApex · January 10, 2017

You don't make out financially purchasing either

Sent from my iPhone using Tapatalk

Clearly...but i think the debate is more what is the better route to lose the least amount? Leasing or buying?

Donstar · January 10, 2017

Been looking to lease a Sierra Denali because the rates are very good right now and the residual is very high.

Best deal I've gotten is $559 a month with just first month payment due to drive off. Msrp is 64,105

Thoughts??

Thank

I own my house motorcycle and boat. Could I afford to buy it? Yes. I get very bored driving the same thing for to long. Is 19k a lot to rent a truck for 3 years? Yes but because the residual is so high on denalis it's cheaper to lease than it is to buy and only keep it for 3 or 4 years and trade it in. The residual for 39 months is 67%. If I were to buy it and decided to trade it in in 3 years I would have to hope to get at least $43,550 for it which realistically isn't going to happen. Gmc has the residuals so high on the denalis it's cheaper for someone like me who likes to get into something new every 3 years by leasing it than buying it and trading it in.

Edit: money factor is 1.42% or .00057 and the residual for 12k is 69% for 36 months

In the big picture, not a serious problem! It's entirely up to you and what makes you the happiest. On my last purchase I was faced with the problem of borrowing/leasing a Denali or owning an SLE. (Again, not a big problem) I opted for the SLE. For me, the pride of ownership and no monthly payments beat sharing a more luxurious vehicle with a lender.