FWIW: Toyota’s money factors and buy rates on leases increased at the beginning of the month due to the fact that they know they have America by the balls. There’s no competition besides Honda.
They own 49% and we remind them of that daily. But Cerberus wants to buy that part as well so we will see what happens.
SmartBuys hurt but not as bad as the loses on Smartleases.
We are still leasing Cadillacs and Saabs, but yes we have ended them for the most part.
Toyota’s 0% offers are twisting the knife in GM’s side right now. People are buying Matrix rather than Vibes because the financing is better, when it was the complete opposite 6 months ago.
I’m hearing from first hand experience that Cadillac leases are outrageous. $600/month for a CTS? $700+/month for an STS? You have got to be shitting me.
Ron, do you have any idea what GM is going to try next as far as incentives go?
They’ve done 0% for 72 months, Employee pricing for everyone, and BIG ASS rebates for everyone. There really isn’t anything else they can do, short of giving people cars for free.
Yeah when you price a lease so that you don’t lose money on the residual, they cost that much.
Other banks are now trying it but last I heard 5/3 bank is pulling out of GM leasing as well.
Employee pricing for everyone worked last month. Look at the numbers. If I had to guess, 0% for 72 is not coming anytime soon. They will continue to pile the cash on the hood.