I was told a 2 weeks ago that it was 8% here in Southern Calif. On a fully loaded SLT2 AWD it was less than 1k down and $752 a month for 15k miles a year for a 36 month term. 62% residual. I any case, I ran out and never looked back!!!! hno:
Thanks for the info. GM is certainly in need of some competitive lease rates. I've shopped leases from Ford, Nissan and Honda. They've all had considerably lower lease rates. If my lease math is correct, going from 8% to 4%, for example, would save roughly $100/mo on a $40k vehicle with 60% residual over 36 months. Pretty significant difference, and has us re-thinking our next vehicle choice.
You're right they don't have to, but as Rhinowino demonstrated they will lose potentional customers because of it. We were also looking at a Tahoe lease in February and that had a 7.2% lease rate. From what I've read, the Tahoe/Suburban models are far from hot sellers right now.