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Chevrolet Cruze Lease Questions

kyfdxkyfdx Posts: 31,133
Ask your Cruze lease questions here!

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Prices Paid, Lease Questions, SUVs

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Comments

  • moe35moe35 Posts: 5
    Hello all,

    Is there currently any lease support on the Cruze? If so, I would appreciate Money Factor and Residual for 36 months and 12K per year.

    Thanks!
  • Hello moe35. General Motors is indeed providing lease support on the new Cruze right now. Its current program is scheduled to run through the end of today November 1st. Ally's current base lease rate and residual value for a 36 month lease of a 2011 Cruze LS with 12,000 miles per year are 1.35% and 55%, respectively.

    GM is scheduled to introduce its new November programs some time tomorrow.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • i quote from local dealer the detail about cruze yesterday,

    "$200 a month with approx.
    $3500 total due at signing (including tax, title and license)."

    The price is way too high for me ,with that i can get a 2011 camry!
    anybody have lease information want to share?
  • LTZ Lease Rate (Apx. $24k) Quoted by CA dealer:

    $2000 down (includes registration, taxes, etc.)
    15k miles/yr
    36 mo
    $353.39/mo
    2% interest rate.

    Thoughts?
  • CapeCodCapeCod Posts: 117
    Current Cruze deal for current owners...
    39 month $159 $899 down...
    How would the payments change if I took another $2000 off thru GM card ?
    Then subtracted another $2000 with a trade in ????
    What if I bumped it up to 15000 miles a year?
    In general are 39 month lease a plus or minus vs. 36 month leases?
    thanks.
  • About to accept this negotiated deal in NJ.

    24 month, 12K lease for a Chevy Cruze 1LT with Driver Convenience Package (Driver 6-way power seat adjuster with manual recliner; Rear Parking Assist; Remote vehicle starter system) and Connectivity Plus Package (Cruise control; Bluetooth for phone; USB port located in center console; Steering wheel-mounted audio controls; Leather-wrapped shift knob; Leather-wrapped steering wheel).

    MSRP: 18,995
    RV % : 67%
    RV: $12,727
    Net Cap: $17,617
    MF: .00028

    0 Down
    Total Monthly Payment (incl taxes): $229
    Inception Fee: $595 bank fee + $229 first month

    Sound about right?
  • It sounds good but I wanted to add that GM just sent a mailing out advertising 1000 off the the capitilized cost reduction amount . They also have 1ooo off for owner loyalty but you can't combine the 2. the capitilized reduction is until 2/28/11 . I don't own a Chevy so I don't know why i was chosen to receive the mailing . 1-866-944-4004 is the number to inquire. Also who is going to hold your lease Ally? I like the lease end residual value percentage your getting did you negotiate it? Since the model is new and have no resell data I wonder how they arrive at that percentage of depriciation.
  • Thanks for your inputs.

    First they quoted me a lease with GM Financial, and said that's the new company they're encouraging lease deals with. Quoted 206 per month including taxes with 595 (bank fee) + first month's down. I ran some numbers and figured this was way too good to be true. They'd need to go about $1000 below invoice to offer this deal.

    When they started processing the deal must've figured they're getting rogered. Came back and said "Just wanted to be transparent with you, GM Fiancial doesn't offer Gap protection on their leases". We recommend going with Ally (GMAC).

    Basically couldn't offer the 206 a month deal (I wasn't surprised) and bumped up to 234 a month (which, if you do the math with the numbers above is whereabouts it should've been).

    Since then, I've been able to negotiate keeping the same price (234 all inclusive a month) while getting them to deliver the color of my choice - granite black.

    The owner loyalty is already applied to my cap reduction - which is why they're able to sell this at below invoice. Am sure they're still making money off me otherwise they wouldn't sell me the car, but feels like its a win win. Am happy with the car and the deal. Hope to be closing tomorrow.
  • Thandamilk they are making money they are paid a fee from the leasing company and selling the car to the leasing company and making money there as well. This is the deal they claim they can give me on the flyer I received. 17920 list on the LS with automatic, by your post my $1ooo off certificate should cover tax and licsense and more, no security deposit but $899 down I conclude this must be the aqusition fee. 39 months 39000 miles all for the price of 159 a month. I don't know how they can advertise that payment, crunch those numbers. Best of luck on your transaction. I also found a a web site that sells an online lease contract and worksheet. Its at leaseguide.com and I think it was 19.95 here is what they post it contains
    Our Lease Kit includes a sample lease contract with easy to understand explanations, an itemized contract checklist, Lease Inspector calculator, and payment worksheets to help you make sure your contract is correct before you sign. If you go with it let me know if it was worth it also let me know how your transaction goes.
  • Thanks for the heads up ireland1.

    In comparison to the deal you're quoting, the car I'm looking at is a Black 1LT with Driver Convenience and Connectivity Packages installed. List is 19,190, invoice and sell price is 17,789 (with those options installed).

    I've built an excel lease calculator which is fairly accurate, and it does show their numbers to be off by about $5 a month based on what they're quoting as the RV, MF, Cap Cost and MSRP and the $235 a month figure. This is something I'll be working out with them when I go in tomorrow.
  • Hey thandmilk if I may what is your RV MF and cap cost? Does Ally charge the same bank fee you quoted earlier 595. This forum is great and so are you to share!
  • All numbers below for a 24 month lease on the Cruze 1LT with driver convenience and connectivity packages installed.

    RV: 67%
    MF: 0.00028 (for tier 1, 720+ score)
    Cap cost: 17,789

    Only fee I'm paying is 595 bank and plates.
  • do you mind sharing which dealer you are working with?
    also, when you say list price of 19,190, that's after rebate, right?
    Asking, because, this car shows 20,190 MSRP and invoice of 19,621 ..

    thanks
  • Kirstie_HKirstie_H Posts: 10,916
    A reporters seeks to interview a recent car buyer who opted for an Elantra or Cruze after considering Corolla. Please email pr@edmunds.com by Monday, February 14, 2011 with your daytime contact information and a few words about your decision.
    Thanks,
    Jeannine Fallon
    Corporate Communications
    Edmunds.com

    MODERATOR
    Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • I am dealing with 4 dealers via internet only one gave me a quote.This is on an LS which has to be manual transmission and stock as a they came in at 14990 which includes the 1000 off. My other source for pricng has been build a car on the Chevy website which I assume is national but since ISP knows where I am maybe its regional. I am in st louis. You got me intersted in the 1 LT now since you can add more features to it. Here is the run down base MSRP 18895 thats with 720 destination fee plus your options convience pkg 685 conectivity pkg 525 black paint 195 I would recommend 100 for spare tire and 80 for carpeted floor mats . Thats 20300 without my suggestions minus 1000 rebate 19300. I like your sell price which I hope to negotiate down to, hopefully. As I typed hopefully the phone rang and it was LOU FUSZ adealer here, listento this BS. I outlined my deal offered above 159 a month for 39 months for a LS AUTO . I added 9000 miles to the lease 15000 a year for total 45000 they cmae back at 18100 minus rebate 1000 discount 470 final price 16630. Now insted of 899 down they want 2650 down and 210 a month which is 3736 extra but that includes tax which is around 550. 6362884554 is cell if you want to talk
  • my question was for thandamilk as I'm in NJ and looking into LT model
  • Ireland, the numbers from my deal were with Englewood Auto Group. They're on 386 Grand Ave in Englewood, NJ. Nice bunch of people, easy to work with. Check in with Mike if you end up heading there.

    Update from my end is that the deal fell through because it turns out owner loyalty doesn't apply in my case. I have a 2011 Malibu but the lease is through my employer and GM won't honor that (justifiably). What is slightly disappointing is tha they knew about this but brought it up last minute. In all fairness to them, the sales rep who was originally tagged to me and had this information was let go / left their dealership while I was working out my deal with them over the past week and apparently this information wasn't shared with the dealership management.

    Anyhow, that leaves me with a well negotiated deal that I can't get! Not willing to pay $280 or so a month for the Cruze on a 24 month lease- which is where its at without the owner loyalty.

    Can anyone else confirm what rebates/discounts are being offered other than owner loyalty for the 2011 Cruze? Cars.com mentions a $1250 customer cash back but I haven't been able to verify that with any dealers, nor on Chevy's own website.
  • Just leased a 2011 Chevy Cruze LTZ - fully loaded - navigation, pioneer audio, sunroof, etc -
    MSRP $26,280

    Got GM Loyalty for $1,000 - Put no money down. ((did a pull ahead on 2008 Chevy Malibu Lease))

    39 month / 12,000 miles per year lease (39,000 miles)

    Paying $350/month -- would have been $328 but then dealer hit me with - do you want GAP INSURANCE -- so I added it.

    Thanks,
    ER
  • jamtracyjamtracy Posts: 74
    Gap insurance on a Lease? I've never heard of such a thing.......
  • ireland1ireland1 Posts: 5
    Consider that when you lease a car the dealer actually sells the car to the leasing company. Sometimes gap insurance is provided by the lease company others don't provide it. Gap insurance is just what it sounds like. Lets say your gets stolen in 6 months the leasing company is out the 26000 they paid for the car minus the 6 months of payments you made on itt. Your car insurance pays 20,000 for your loss gap insurance covers that gap.
  • arb1arb1 Posts: 1
    Car_man,

    Could you please provide the MF and Residual % for a Cruze ECO w/ 6 speed manual?
    24 month and 36 month leases with 15k miles.

    TIA
  • bzogbzog Posts: 1
    Car_man,

    Could you pleases tell me the MF and RV on the Cruze LS with 6-speed automatic for a 39 month lease with 18k miles? I assume they still allow you to lease a car at that high of a mileage rate. My sister drives 250 miles per week back and forth to work so she needs lots of miles.

    TIA
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi arb1. Ally's April base lease rate and residual value for a 24 month lease of a 2011 Chevrolet Cruze Eco with 15,000 miles per year are 0.15% and 60%, respectively.

    The numbers for an otherwise identical 36 month lease are 1.0% and 50%.

    When negotiating your lease on this car, make sure to take advantage of the $1,275 cash incentive on for 24 month leases of it and $1,100 on 36 month leases of it through Ally.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey bzog. Ally's April base lease rate and residual value for a 39 month lease of a 2011 Chevrolet Cruze LS with 15,000 miles per year are 47% and 47%, respectively.

    I believe that 15,000 miles per year is the highest mileage allowance that Ally publishes residual values for. If you need to drive more than that, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • tgaydoshtgaydosh Posts: 4
    Does anyone know what the current lease incentives are for the Cruze? I qualify for the USAA rebate, military pricing and GM credit card bonus?
  • nptodaronptodaro Posts: 2
    Car_man,

    Can you please tell me the residual value, money factor, and incentives for May for a 2011 Chevy Cruze ECO with an MSRP of $20, 625 for 24/36 months and 12k miles per year?

    I live in Huntington, NY (11743)

    Thank you very much,
    Nick
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey tgaydosh. GM's current cash incentive for a 36 month lease of a 2011 Chevrolet Cruze through Ally is $1,250.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings Nick. Ally's May base lease rate and residual value for a 36 month lease of a 2011 Chevrolet Cruze ECO with 12,000 miles per year are 1.08% and 51%, respectively.

    As you can see, Ally publishes lease rates instead of money factors for the vehicles that it leases. you can convert its published lease rates into approximate money factor equivalents by dividing them by 2400.

    When negotiating your deal on this car, make sure to take advantage of the $1,250 cash incentive that is currently available on 36 month leases of it through Ally.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • sheepdog1sheepdog1 Posts: 28
    Hey Carman, what are the latest lease base numbers and residuals and any lease incentives for the cruz?

    Thanks
    Todd
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