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Chevrolet Impala Lease Questions

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Comments

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Chris. Most banks do place at least some restrictions upon the modifications that can be made to leased vehicles. The change that you want to make does not sound drastic enough to be a big deal, but it probably wouldn't hurt to place a call directly to GMAC, or whichever bank you are leasing your truck through to find out if you are allowed to do it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi sylviae. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your Trailblazer lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle. Just try to limit your driving.

    If you really have to get a new car, make sure to negotiate as low a selling price as possible on it. The selling prices of leased vehicles are negotiable, just as if you were to pay cash for or finance it.

    Car_man
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  • matt1203matt1203 Posts: 1
    I was quoted $1000 down/$429 a month (including taxes) for a 48 month 12k mile/yr lease for an 08 Impala SS with a sticker of $31670. I am in Central Florida. I am eligible for $750 loyalty cash. Sales tax rate in my area of Fl. is 7.5%

    Good numbers? What are the Lease Rates and residual values?

    I have talked to a number of dealers in Central Florida and they are all coming in with similar numbers which to me, don't seem that fantastic. Basically, they are offering sticker less any incentives. The only other offer I got from a dealer was that he would waive all front and back end costs for the same numbers - to get my business from the dealer who made the offer above.

    Thoughts?
  • thekrautthekraut Posts: 7
    Go to DaveRamsey.com and read his opinion of a car "FLEECE". My CPA said a lease was not a good decision for me, even as a business expense.
  • howiem2howiem2 Posts: 4
    The sample lease example on the site has a $20,000 invoice price (technically, the "net capitalized cost," actually).
    It comes up with a 36-month deal with lease payments of $313.90, which makes sense to me.

    But when I try the calculations for a Chevy Impala, a pretty basic model at $22,000 minus $2,000 incentive (so $20,000), they have me at a screwy $414 a month.

    How can the numbers be so far off?

    Isn't a $20,000 invoice-price car going to be around $300 and change if you make a good deal, even assuming no trade-in?

    I got a new 2003 Jeep Cherokee for $269 a month for 39 months, with no trade-in.

    Yet the dealer is trying to get $380 a month from me for an Impala at this $20,000 invoice-price level?
    What gives?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi matt1203. GMAC's current base lease rate and residual value for a 48 month lease of any 2008 Chevrolet Impala with 12,000 miles per year are 3.15% and 45%, respectively.

    Car_man
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  • c99camaroc99camaro Posts: 1
    Carman. Looking to see if you can give me some information. Can you provide me with the current lease rate and residuals on an 08 Impala LT2 for 36 and 48 months with 12k/yr. Also does GMAC have any lease cash available?

    Thanks for the info
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, c99camaro. GMAC's current base lease rate and residual value for a 36 month lease of any 2008 Chevrolet Impala with 12,000 miles per year are 3.15% and 55%, respectively. The numbers for an otherwise identical 48 month lease are 3.15% and 45%. GM is providing $750 lease cash on this model in certain regions.

    Car_man
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  • sunnyhsunnyh Posts: 3
    What's the best way to find someone to assume a lease? My mom passed away and I need to get someone to take over her lease as I can't afford the turn in fee which will be abut $3000. I've tried advertising it, craigs list and flyers. Are there any reputable forums to list in? The car was barely driven and has another 34,000 miles to go. Payments are $350 month.
  • kyfdxkyfdx Posts: 31,103
    Try Swapalease.. They have the most listings and transfers, which is what you want.. You need as many people as possible to see your listing..

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  • sunnyhsunnyh Posts: 3
    I'd been looking at them earlier, but was not sure how legit they are, or how successful. Plus they seem to have mostly luxury car's. My mom's Impala is not a luxury car, but it is almost brand new and does have 34,000 miles still to go.

    Would I be throwing my money away? Nothing on their site tells me how much, if any traffic they get.
  • Kirstie_HKirstie_H Posts: 10,913

    Please continue in our 2014 Chevrolet Impala Lease Questions discussion.

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