I went to two dealerships yesterday to negotiate a $199 lease for NEW design 2016 Malibu 1LT with Conv & Tech package.(MSRP $26,790) Lease is 24 month/12K miles, paying only DMV and 1st payment at signing in NY. At both dealerships, lease cash and rebates totaled $4,125..($2,125 + $500 + $1,500 conquest). Residual 66% and MF .00050. 1st dealership started at $309, and after an hour eventually came down to $269 and didnt budge after that. I never got the sell price from him, only I was told it was $700 below invoice. Not happy with this dealership price, I went to another. 2nd dealership started at $249 and after long negotiating and trying to leave dealership two times, I was able to get my $199 per month. They didn’t have car color (Silver Ice), and are doing a ‘locate’, which will take a couple days I was told. I left a $500 deposit. I’ll post sell price/net cap cost etc..numbers after I pick up vehicle, but message to all, it pays to shop around. Royals
Try again Just picked up car. 2016 Malibu 1LT w Conv & Tech package 12K 24 months MSRP $26,790 Sell Price $25,060 Rebates $4,625 Residual = 65% = $17,413 Taxes $780.65 rolled into payment They waived the bank fee..ZERO bank fee... Monthly payment =$199 At signing I paid 1st and DMV totaling $501.... Royals
Hey Royals_1969, so $199 a month including NY Tax? Nothing out of pocket?. I remember you were also looking at VW's on the other forums. Might consider this car if its leasing this low.
Yes, I paid $501 (DMV & 1st payment) at signing, and yes $780 NY tax is included in $199 payment. I always prefer the 24month 12K lease...never worry about tire wear etc... I was making zero headway with VW, so I gave up on them. I was then visiting/negotiating several Chevy dealerships when Atlantic Chevy in Bayshore became my prime focus. Rebates were $4,625..( $2,125, $500, $500, $1,500) The $1500 was conquest not sure what all the other were. good luck. Royals
Sounds like a sweet deal Royals Would you mind sharing the initials of the salesman at that dealership?
Atlantic Chevy Bayshore Long Island email/internet salesman who I 1st contacted was Paul W, I worked with Paul thru emails for several days, and when i went to dealership to meet Paul, he then put me with salesman Ahmed E. who i worked the deal thru and signed with. Good Luck Royals
Sounds like a sweet deal Royals Would you mind sharing the initials of the salesman at that dealership?
Atlantic Chevy Bayshore Long Island email/internet salesman who I 1st contacted was Paul W, I worked with Paul thru emails for several days, and when i went to dealership to meet Paul, he then put me with salesman Ahmed E. who i worked the deal thru and signed with. Good Luck Royals
This is awesome, thank you. I am looking at the same car with same terms. One last thing, what bank did you sign the lease with? GMC, US Bank or Ally? I know Chevy/GM uses different banks. Also, was there a disposition fee? Hope you're enjoying your new Malibu.
These numbers are pretty compelling. Are there any manufacturers that offer lease terms under 24mos?
I've seen residuals for 12 months from VW and Porsche, but that's about it. Not sure that the numbers on those short terms would work in your favor, however.
I am considering a 24 month lease on a 2016 Malibu Limited, LT in the Nashville, Tennessee area with 12/15 K/yr. Can you help with MF, residual and lease cash?
Dealers seem to be offering an additional $1000 bonus tag offer on some inventory. I also have a bonus offer of $3000 from the GM card that I understand can be used as an 'additional' down payment on top of my actual GM Card earnings. I am unsure how this affects the formula.
I am considering a 24 month lease on a 2016 Malibu Limited, LT in the Nashville, Tennessee area with 12/15 K/yr. Can you help with MF, residual and lease cash?
Dealers seem to be offering an additional $1000 bonus tag offer on some inventory. I also have a bonus offer of $3000 from the GM card that I understand can be used as an 'additional' down payment on top of my actual GM Card earnings. I am unsure how this affects the formula.
24/15 numbers on Malibu Limited LT - .00040 and 60%. $4085 lease cash. Add 1% for 12K
Check your GM card - the bonus "top off" expired on 2/29. At least, mine did.
Thanks for the info. Have local dealer trying to run MF .00123 with the correct 60%.
They are trying to use my GM Bonus as an additional Rebate and not as Cash Down. Mine expires 3/31 and they have sent a second mailer this week.
While can figure on high Tennessee Doc Fee of $399 and the Disposition Fee of $395, they are also trying to add a field of 'Total Add. Cap. Costs' of $599 that they are trying to say GM charges for doing the 'paperwork' on starting up the lease.
Thanks for the info. Have local dealer trying to run MF .00123 with the correct 60%.
They are trying to use my GM Bonus as an additional Rebate and not as Cash Down. Mine expires 3/31 and they have sent a second mailer this week.
While can figure on high Tennessee Doc Fee of $399 and the Disposition Fee of $395, they are also trying to add a field of 'Total Add. Cap. Costs' of $599 that they are trying to say GM charges for doing the 'paperwork' on starting up the lease.
The $599 is likely a dealer doc fee - try to negotiate that out with a lower selling price.
Looking to buy a 2016 Malibu (not limited). Have already got the selling price (the 1,510 lease cash was taken off the negotiated price).. This is the total cap reduction I think.
Residual is .59 or 59% (not sure how its expressed).
.00050 MF.
Now here's my dilemma. Originally the dealer had the MF at .00123 (2.96%).......After I called him out on it, he reduced it to 2.02.
.00050 is 1.32 %.
He tells me that he raised it to WAIVE the security deposit? HUH? There was never any mention of a security deposit (just an acquisition fee that was figured into the total lease payment).
He said if he made it 1.32 i'd have to pay a 595 security deposit.......Anything ABOVE that would waive the security deposit. So, how did he come up with 2.02? its definately not based off credit, because my score is 810. They used gm financial.
Any of this true? I have read no mention of any security deposit anywhere.
I know a dealer can RAISE the money factor for the sake of money in their pocket, but I'm a litle leary of this, and won't proceed.
1.32 to 2.02 in my scenario is only $15 a month, but 15 x 36 months is $540.
Looking to buy a 2016 Malibu (not limited). Have already got the selling price (the 1,510 lease cash was taken off the negotiated price).. This is the total cap reduction I think.
Residual is .59 or 59% (not sure how its expressed).
.00050 MF.
Now here's my dilemma. Originally the dealer had the MF at .00123 (2.96%).......After I called him out on it, he reduced it to 2.02.
.00050 is 1.32 %.
He tells me that he raised it to WAIVE the security deposit? HUH? There was never any mention of a security deposit (just an acquisition fee that was figured into the total lease payment).
He said if he made it 1.32 i'd have to pay a 595 security deposit.......Anything ABOVE that would waive the security deposit. So, how did he come up with 2.02? its definately not based off credit, because my score is 810. They used gm financial.
Any of this true? I have read no mention of any security deposit anywhere.
I know a dealer can RAISE the money factor for the sake of money in their pocket, but I'm a litle leary of this, and won't proceed.
1.32 to 2.02 in my scenario is only $15 a month, but 15 x 36 months is $540.
What are your thoughts?
There is always a security deposit on a lease; to waive it, the MF is indeed increased to compensate.
So, pay the $595 security deposit up front (or add it to the cap cost), or pay the $540 for the marked up MF.
Thanks for the responses. Well, I there was an INCEPTION FEE, but there was no SECURITY DEPOSIT, because credit score was 775 dealer said. It appeared be my lucky day, because the dealer was advertising a $199 lease on an LT (new body). Money factor ended up being .00040 (0.96%) Residual 59% I did a ONE PAY lease for 36 months. Freeland Chevy in Nashville was pretty well up front with everything
Thanks for the responses. Well, I there was an INCEPTION FEE, but there was no SECURITY DEPOSIT, because credit score was 775 dealer said. It appeared be my lucky day, because the dealer was advertising a $199 lease on an LT (new body). Money factor ended up being .00040 (0.96%) Residual 59% I did a ONE PAY lease for 36 months. Freeland Chevy in Nashville was pretty well up front with everything
I went in looking for a ONE-PAY. they had the deal setup on payments. After they recalculated it on a one pay, it was a difference of $576, So, it had to be savings on the lease fee and some taxes, so there is an advantage if you have the cash.
What are the numbers on a 24M/12K lease on a Malibu 1LT in NY. Also, can you confirm dealer cash and any other cash like conquest, loyalty, etc? Thanks in advance !
What are the numbers on a 24M/12K lease on a Malibu 1LT in NY. Also, can you confirm dealer cash and any other cash like conquest, loyalty, etc? Thanks in advance !
Can you help me out with some lease numbers (money factor / residual) for a Malibu Premier in Florida? I'd like 15000 miles per year and the most cost effective duration of the lease.
If you can send me any incentives as well, that would be awesome.
Can you help me out with some lease numbers (money factor / residual) for a Malibu Premier in Florida? I'd like 15000 miles per year and the most cost effective duration of the lease.
If you can send me any incentives as well, that would be awesome.
Comments
Just picked up car.
2016 Malibu 1LT w Conv & Tech package
12K 24 months
MSRP $26,790
Sell Price $25,060
Rebates $4,625
Residual = 65% = $17,413
Taxes $780.65 rolled into payment
They waived the bank fee..ZERO bank fee...
Monthly payment =$199
At signing I paid 1st and DMV totaling $501....
Royals
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I always prefer the 24month 12K lease...never worry about tire wear etc...
I was making zero headway with VW, so I gave up on them. I was then visiting/negotiating several
Chevy dealerships when Atlantic Chevy in Bayshore became my prime focus.
Rebates were $4,625..( $2,125, $500, $500, $1,500) The $1500 was conquest not sure what all the other were.
good luck.
Royals
email/internet salesman who I 1st contacted was Paul W, I worked with Paul thru emails for several days, and when i went to dealership to meet Paul, he then put me with salesman Ahmed E. who i worked the deal thru and signed with.
Good Luck
Royals
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Dealers seem to be offering an additional $1000 bonus tag offer on some inventory. I also have a bonus offer of $3000 from the GM card that I understand can be used as an 'additional' down payment on top of my actual GM Card earnings. I am unsure how this affects the formula.
Check your GM card - the bonus "top off" expired on 2/29. At least, mine did.
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They are trying to use my GM Bonus as an additional Rebate and not as Cash Down. Mine expires 3/31 and they have sent a second mailer this week.
While can figure on high Tennessee Doc Fee of $399 and the Disposition Fee of $395, they are also trying to add a field of 'Total Add. Cap. Costs' of $599 that they are trying to say GM charges for doing the 'paperwork' on starting up the lease.
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Is there lease cash higher on the 2LT?
Thank you very much.
24 and 27 month MF is .00050; 36 month MF is .00040
24/12 residual is 65%; 27/12 residual is 63%; 36/12 residual is 58%
$1765 lease cash.
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36/12 .00040 and 58%
$1765 lease cash
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2016 Malibu Premier, 24/27 12k.
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Residual is .59 or 59% (not sure how its expressed).
.00050 MF.
Now here's my dilemma. Originally the dealer had the MF at .00123 (2.96%).......After I called him out on it, he reduced it to 2.02.
.00050 is 1.32 %.
He tells me that he raised it to WAIVE the security deposit? HUH? There was never any mention of a security deposit (just an acquisition fee that was figured into the total lease payment).
He said if he made it 1.32 i'd have to pay a 595 security deposit.......Anything ABOVE that would waive the security deposit. So, how did he come up with 2.02? its definately not based off credit, because my score is 810. They used gm financial.
Any of this true? I have read no mention of any security deposit anywhere.
I know a dealer can RAISE the money factor for the sake of money in their pocket, but I'm a litle leary of this, and won't proceed.
1.32 to 2.02 in my scenario is only $15 a month, but 15 x 36 months is $540.
What are your thoughts?
So, pay the $595 security deposit up front (or add it to the cap cost), or pay the $540 for the marked up MF.
No deception.
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It appeared be my lucky day, because the dealer was advertising a $199 lease on an LT (new body).
Money factor ended up being .00040 (0.96%)
Residual 59%
I did a ONE PAY lease for 36 months.
Freeland Chevy in Nashville was pretty well up front with everything
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27/10 - .00050 and 64%
36/10 - .00040 and 59%
$1510 lease cash
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36/12 - .00040 and 58%
$1510 lease cash.
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Can you help me out with some lease numbers (money factor / residual) for a Malibu Premier in Florida? I'd like 15000 miles per year and the most cost effective duration of the lease.
If you can send me any incentives as well, that would be awesome.
Thanks!
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