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Chevrolet Malibu Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey cdcruizer05. Lease rates can always be converted into money factor equivalents by dividing them by 2400. Only GMAC and Ford Credit use lease rates though. Most other banks used money factors to calculate the interest portion of lease payments. Conversely, you can convert banks' money factors into approximate interest rate equivalents to see how attractive they are by multiplying them by 2400.

    Car_man
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  • Hello Car_man,

    What are the lease rates for the 2008 & 2009 Malibu over 24/36 months at 12,000 miles for August? Out of curiosity, what are the lease rates for the Malibu Hybrid 2008 & 2009 if it's offered at all by GMAC.

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello skoil1357. GMAC's current base lease rate and residual value for a 24 month lease of a 2008 Chevrolet Malibu with 12,000 miles per year are 5.15% and 64%, respectively. The numbers for an otherwise identical 36 month lease are 5.15% and 54%. The 24 month numbers for an '09 Malibu are 7.6% and 64% and its 36 month numbers are 7.6% and 54%.

    These numbers are all for non-Hybrid Malibus. Not surprisingly, GM is not currently providing any lease support on the Malibu Hybrid.

    Car_man
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  • th83th83 Posts: 164
    Hey, Car man.

    How are the lease rates for the Malibu looking for this month?
  • Hey th83. Unfortunately, for both them and you, General Motors' liquidity issues have forced it to pull the plug on both its special financing and lease programs. If you want to lease a Malibu, or even to finance one, in November you will have to do so through an independent bank. Without any manufacturer support, the lease programs that are available on the Malibu probably are not very attractive. If you are set on leasing, you will probably be better off going with a different model.

    Car_man
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  • Is there info available on lease rates/residuals for Iowa for Feb-Mar 2009? Thanks
  • Hi wdmirish. General Motors' financial problems have forced it to stop leasing vehicles. You still might be able to lease a Malibu, but in order to do so you would have to go through a bank other than GMAC. You probably would bee better off financing the car that you want through GMAC at 0% for up to 5 years or 1.9% for 6 years. That's what I would do if I was in the market for a new Malibu.

    Car_man
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  • bvdj84bvdj84 Posts: 1,721
    So, I should consider myself lucky to have an 08 GM lease? My salesmen told me that I am lucky to have such a cheap lease and that I have one right now. The worst case scenario is that I keep the car the whole lease. I can walk away.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yep, bvdj84, if you really want to lease a General Motors product like the Malibu you are lucky that you did so when it was still leasing vehicles.

    Car_man
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  • vanman1vanman1 Posts: 1,397
    Agreed.

    That said, a friend leased a CTS last month through a 3rd party. He took the cash deal and the lease payments aren't too bad though obviously not as good as the old 0.9% leases.

    I feel lucky also. I got 0% for 72 months in September through GMAC on my 08 Malibu. They killed the deal 3 days after I took delivery my sales rep told me.

    I suspect 3rd party lease companies will finance a Malibu because it is a good car that will likely hold it's value better than most GM cars.
  • kpgemkpgem Posts: 1
    I am trying to guess what my lease payments will be before I go to dealer. I do have some catches.
    My current lease is up next month.
    My payment is due on the 22nd of this month. (369)
    I am OVER mileage by 10,000 x.25 - so I know I owe $2,500

    1. Is there anyway to negotiate the excess mileage (given 8 year relationship with chevy - 4th car lease, etc?)
    2. I get a supplier discount and have priced out the following for a malibu.

    Total MSRP $27,445
    Supplier Price $26,482
    Current Offer $2,000
    Net Price - $24,482

    I have a total of $2,000 I can put down/cover tax, title fees (this is what i did last time on my trailblazer and got a $369 payment).

    The dealership said that if I have good credit they could roll in my overmileage into the lease - so can someone calculate based on a 36/39 vs. 48 month lease with the above criteria? The reason why I need to lease is I need lower car payments and need to buy another car-used. Thanks!!!
  • Car man,

    I am trying to obtain some figures on a Malibu, 6 cylinder and I am still trying to determine my trim level. more than likely it will be a LT2, but it depends on what i can get the best deal on.

    What are the current offers in the Ohio region and what are the current residuals on a 48 month 15,000 miles per year. I would also be open to a 39 month @ 15,000 per year as well. If I could get the vehicle in the $ 26,000 range, what would the monthly payment damage be.

    I am a current GMAC lease holder and know there is a pull head available to me, just want to be as informed as I can be.

    Thanks in advance for helping, you provide a great service.
  • Hi bil2rich. Let's take a look at the lease program for the car that you are interested in. According to the latest information that I have seen, if you were to lease a 2010 Chevrolet Malibu V6 LT2 through GMAC right now for 39 months with 15,000 miles per year, its base lease rate and residual value would be 0.75% and 41%, respectively.

    The numbers for an otherwise identical 48 month lease are 0.90% and 34%. Ouch, 34% is a pretty bad residual value. With a resid that low, you're almost better off just financing this car through GMAC at 0% for 5 years instead of leasing it.

    If you decide to go with a lease, make sure to take advantage of the special $2,200 cash incentive that General Motors is currently providing on leases of this car through GMAC. There is also an additional $1,000 loyalty cash on this model.

    Car_man
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  • Car_man,

    I am looking at the '10 Malibu LTZ for a 36m lease. I have family at GM, so I am looking to take advantage of the Preferred Pricing(~800 savings) and EVA (1000) in addition to the cash rebates(2000) advertised on chevy's website.

    However when I went to a dealer here in Northern New Jersey, they told me if I were to lease through GMAC I couldn't use any of the above mentioned discounts (~3800 worth). I would have to lease through US Bank if I wanted to use the rebates & family discounts. They gave me a interest rate of 5.52% or 0.0023!!! Thats nowhere near to the <1% you mentioned from GMAC. My payments were nearly twice that of the rates you listed in January.

    Are these really inillegable through GMAC , is it something specific for my region, or is total bull from the dealer?

    If it is bull can you let me know the February 36m/15k mi lease rates ($factor and resid) of an LTZ through GMAC, and if they are offering any rebates in addition to what I listed above.

    Thanks a lot, you're an amazing help in the muddy waters of car dealerships.
  • Hey Car Man,
    I'm looking for the current numbers for an LTZ in the Detroit Metro area for 36/15k. I'm wondering if the lease and bonus cash are still available.

    Thanks!!
  • Hi jbofctu. The information that the dealer provided you with is definitely not right. It's true that General Motors is running two special lease programs on the Malibu right now, one through GMAC and the other through US Bank, but the interest rates associated with both of those programs are less than one percent - 0.75% for GMAC and 0.72% for US Bank.

    What you were told about General Motors' normal consumer cash not being compatible with leases is correct...however GM is currently providing an even larger $2,950 cash incentive on leases through GMAC and three grand on leases through US Bank.

    It doesn't sound like this dealer is being very straightforward with you. If I was in your situation, I'd personally find a different dealer to work with.

    Car_man
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  • Hi travis08. Here's the information that you're looking for. GMAC's current base lease rate and residual value for a 36 month lease of a 2010 Chevrolet Malibu LTZ with 15,000 miles per year are 0.75% and 45%, respectively.

    General Motors is currently providing a $2,950 cash incentive on leases of this car plus an additional $1,000 bonus cash for a total of nearly four grand.

    Car_man
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  • Hi everyone. I am getting close to pulling the trigger on a 2010 Malibu LTZ with 6 Cyl. There appears to be 3,000 incentive to buy (plus 1,000 additional for current Toyota owners).

    I am more interested in leasing if the terms are good. Car_Man; could you tell me the lease terms for this car? I am interested in 15K miles/yr at either 24 or 36 months. I would love to know all the cash incentives as well as the resid and money factors. Also, can you do a one-pay? multiple security deposits?

    Thanks so much. I know that I've asked alot of questions.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to help you out, bookman05. Don't worry about asking too many questions. That's why the forums are here.

    General Motors is not currently providing support on 24 month leases. GMAC's current base lease rate and residual value for a 36 month lease of a 2010 Malibu LTZ 6-cylinder with 15,000 miles per year are 0.75% and 46%, respectively.

    General Motors is currently providing a $2,680 cash incentive on leases of this car through GMAC.

    A lot has changed at GMAC over the past year. I'm not sure if it currently offers one-pay leases of multiple security deposits. I would guess that the answer is no, but again I'm not certain.

    Car_man
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  • Thanks so much Car_Man. Just one additional question -- Do you know how much of the rebates remain if I switch from purchase to lease mode?
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