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2013 and Earlier Chevrolet Malibu Lease Questions
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Car_man
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Car_man
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As for the Malibu, I love it. I have owned a couple of Acura's (Integra GS-R, CL 3.0), a Volvo S60, and a Malibu Maxx. This is by far the best car of all of them. So far, so good!
Damon
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Can you post the current lease rates and residuals for a 2008 Malibu from GMAC? I'm looking at a 36 month lease, 15k miles/year.
Thanks.
3.15 APR - First month down of 376 - 376/month - 39months - 39,000 miles...
Fair?
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Thanks,
er
I am in the market to lease a sedan (approx 22k gross) and these two are right up my alley. I should note that I get the GMS pricing on them, which is why i selected these two. Based on similar models such as Saturn Aura V6 and Malibu V6 (base models) has anyone driven both and can tell me pros/cons/preference for either car?
Also, as I am looking to lease (w/ $0 down) does anyone know what kind of specials are going on with the two cars right now? What is the GMAC base lease rate for both (and how do you qualify for that)?
Thanks in advance for the help on my first lease!!
I don't know about the Aura, but if you want the V6 on the Malibu, you won't be able to get it on the base model. It's only available on the LT2 with the engine package option or is standard on the top of the line LTZ. I have an LT2 with the engine package and am really pleased with it. I drive pretty hard with a lot of city driving and am averaging better than 21 MPG with the air conditioner running (I live in the Phoenix, Az. area). The sticker price on my car was around $25,000 with the engine package option.
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Also, assuming I can get the GMS price on a car (22k MSRP would be about 20k I guess), should I be able to get a lease payment for under $300/mo. incl taxes, fees, etc with $0 down?
Hopefully Car_Man will check this thread out and give you the info you need to figure your lease costs.
How long a lease are you looking for?
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I turned in my leased Equinox and just leased a 2008 PontiacTorrent AWD 39 months 12,000 miles per year. Cost of the SUV was $24,600. $1,000 out of my pocket only I had $600.00 in GM Credit Card dollar points, and there was $2,500 in rebates from GM/Dealer Total of $4,100 down payment. My monthly payment is $315.00 a month.
I just turned in my leased Malibu, however due to the high lease cost on the new Malibu starting with the base model, I leased a 2008 Honda Accord LXP 36 month 12,000 miles per year the cost of the car was $21,500. $1,000 out of my pocket only, $300.00 dealer incentive Total of $1,300 down. My monthly payment is $260.00 per month. The car is awesome first Japanese car I ever had.
I just saw an ad in todays paper from a local Chevy Auto Mall on RTE 17 in Paramus NJ and they are showing the 2008 Malibu LS 4cyl 39 months 10,000 miles per year cost for the car is $20,075, lease cost per month is $199.00 plus tax $1,500 in GM/Dealer incentives included in the deal, $3089 due at inception. This doesn't include taxes which will bring up the cost on the monthly price of $199.00, plus you have to include reg. documentation fee cost on top of the $3,089.
My guess is that if you put nothing down on this car it will proably run you between $375 to $425 a month
Also I priced out the new Vibe base model and Saturn Astra also all automitics, the Vibe was $2300 down 39 mths 10,000 miles $325.00 per month, the Astra was $2,300 down $375 per month, thats why the Honda came into play.
The only way to know what the payments would be is to know the exact money factor, length of term and mileage, residual and capitalized cost.
I see many people posting in the Honda Accord lease forum that the 2008 Accord's lease deals are not very good and there are no lease incentives and other vehicles are recommended if you want great lease deal.
There were supposed to be at least mild lease incentives on the Malibu that would make the lease money factor rate lower than 7%.
Can someone post the official GMAC April lease numbers (money factor, residual for 12K and 15K miles, bank fee and security deposit (if any)) on the 2008 Malibu?
It looks strange when someone posts information that's the opposite of what most people in the Honda Accord lease forum here are saying.
I only mentioned the Honda forum because you said you got such a great lease deal on an Accord when others are posting so-so deals and are telling people to go look at Acura TLs and TSXs if they want a bargain lease.
I have also heard that there was some lease support on the Malibu, but your info doesn't show that.
The rate and everything that goes with it matters because they're all connected. The payments are calculated based on a formula that needs all the information. Payments and down payments do not just appear out of the air.
Your information doesn't make sense.
I'm looking for someone such as Car_Man to post all the information needed to calculate the payment and total cost on a Malibu lease this month (money factor, residuals, security deposit, bank fee etc.)
While I was washing my Malibu in the driveway this afternoon, every person that walked past stopped by to look at it and that happens every weekend. It's nice to drive a car that a lot of people desire.
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Car_man
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Car_man
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When you figure out exactly what the MSRP and selling price of the car that you want are, you can plug them and the above lease program into the formula that is outlined in the following article to see what your lease payment will be Calculate Your Own Lease Payment.
Car_man
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The residual was 53% for 39 months - which seems poor to me, the car should retain more of its value in my opinion...
When the 04 came out it was touted in the same way, however as you will see over time probably within the first 6 months to a year you will find the gas mileage will not match the sticker city mpg numbers and it wont get better as the car breaks in the city stop and go, rattles window, control arm squeaks, center arm rest and dash board clicking and squeaks that no dealer ever seems to find except your self. To most Bu owners keep a pocket recorder handy in the car you will need it. Mileage in the 04 I was getting 14 to 16 mpg sticker stated 23 mpg and the highway stated 32 however, I was getting up to 37mpg on a straight run that is almost better than any 4cyl on the market.You also probably haven't noticed it yet but the steering is kind of numb in reaction time that is.
Well Good luck with the new BU it is an outstanding looking car in and out and if it weren't for the past issues and gas mileage I would have loved to have gotten another one, I was just dissapointed and the leasing cost didn't help.
It does matter if you are buying it out right because you wouldn't want to be paying a hefty finance charge that will cost you more than the car is actually worth.
And here is a tip to any one if you do buy a car buy do it with with a home equity loan (if you can) you can claim the finance charge points on your taxes.
Of course demand is still much better than last year's plain-Jane model, but it isn't that incredible of a demand as people would like to say.
link title
Sales of the Malibu were up 17% in March while sales for all GM products were down by 19%. And this is in a very bad auto market where all auto manufacturers posted sales losses.
Considering the market conditions, I'd say the demand for the Malibu is pretty good.
EDIT: Just found another interesting article about the Malibu and how GM is doing with it:
link title
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You see less Malibu's sitting on the lots than Camrys because they are building alot less Malibu's, not because they are selling more Malibus than Toyota sells Camrys.
It's obvious that GM is trying to overcome it's old perception and that they have come up with a vehicle at least as good as if not better than anything the foreign manufactures have.
A lot of us Americans take great pride in our accomplishments and are willing to spend the extra few bucks it takes to make sure we keep jobs here in America and that the money we spend goes to American firms who pay taxes here and create jobs here.
So in answer to your question, I really don't care what Toyota or Honda does. If I want to read about them, I'll go to the appropriate site in this forum to discuss them.
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However, I ultimately purchased an Altima, for 2 reasons...1- the Malibu simply didn't offer the options I wanted (ie., on-screen NAV system, Bluetooth, etc.), and 2- I also have tried to buy American when possible, but I have been "snake-bit" so many times by GM products and dealer services in the past that I decided to look elsewhere. This time my decision was made easy, simply due to the "options" availability.
You bring up an excellent point, however...Just what is American nowadays?
I traded an 05 Aveo (Korean made) for a Nissan Altima (made in Mississippi, I think). Hondas are made in Ohio, BMW's in South Carolina, and many traditional US cars are substantially, if not entirely made in Canada, Australia (Holden) and Mexico.
Not to mention that all dealers and service employees are American, regardless of brand...
Very confusing, don't you think???
You are entitled to your opinion. I disagree with you.
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American companies pay taxes on their profits in America. Foreign companies pay a small import fee for their vehicles.
America has a huge imbalance of imports compared to exports and it is a serious drain on our economy.
Now one guy buying an American made car instead of a foreign car isn't going to solve this problem, but it's a start.
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If I understand your posting correctly (and I appologize up-front if I am mistaken), are you saying that the USA would benefit if all of GM's, Ford's and Chrysler's cars were made in China and sold here?
How does the American worker benefit if profits are kept here in the USA or sent over-seas? Does it affect him/her if Nissan/BMW/Honda/etc. records the profit here or in their home country?
Bob Lutz may get an addition to his bonus each time an Aveo is sold, but I fail to see how that helps the American worker, UAW, or anyone else except the dealership that sold it, and its specific employees.
While it may help America GDP figures to record profits here, its really a non-issue in the trade deficit picture. Its where the jobs are...ask anyone familiar with Wal-Mart...
For example, BMW has just announced a huge expansion in its South Carolina plant, so it can take advantage of the huge disparity between the dollar and the euro. They are not alone...all the car companies, including Ford, GM and Chrysler take advantage of the currency evaluations.
To be honest, I can't understand why VW hasn't started manufacturing in the USA. Maybe they feel that their Brazil/Mexico plants are able to take sufficient advantage of the dollar's devaluation .vs. the euro.
Again, if I misunderstood your posting, then please excuse me, but buying a GM product that is manufactured somewhere else and thinking I am buying American and helping our economy is simply wishful thinking...All I am doing is adding a few pennies to some corporate manager's bonus check.
It's really hard now days to find American made goods even in places like Walmart (who sold mostly American goods when Sam Walton was still alive).
I am not an isolationist or someone who is against a global economic outlook. I just think we owe it to ourselves to keep some good paying jobs available for our neighbors rather than watching them all disappear overseas.
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The problem is, we don't really have that as an available option in most cases.
GM, Ford and Chrysler all push the "buy American" theme, but feel no obligation to manufacture here...for example, I see GM is importing the new Pontiac G8GT from its Australian Holden subsidiary.
Since this appears to be the case, I see no difference between buying a Nissan made in Mississippi or a Malibu made in Detroit (or wherever its made). Both provide American jobs. What I fail to understand is how foreign companies can make a profit making and selling autos here, but the "domestic" manufacturers can't. Yes, some of it is due to the unions, but they have become the whipping boy for all that is wrong with American industry...right or wrong.
I find it confusing when I turn the TV on the Discovery Channel and they have a program on high-tech manufacturing, but the factories are all either foreign owned or in other countries. Even the American Passports are now being made in Thailand. What's up with that???
In my opinion, American auto manufacturers sowed the seeds of their own destruction. For years, they were happy to increase wages and benefits with no ties to increased productivity because it gave them a reason to raise car prices (and increase profits). At the same time, quality fell through the floor.
The sole reason that GM is making a car the caliber of the new Malibu is because of the Japanese, German and more recently Korean competition. And, the most amazing thing to me is that they still don't seem to "get it". Malibu competes with the Accord, Altima, Camry, etc., but ranks last in option availibility (no NAV, bluetooth, etc).
Personally, I think its a complete failure of management and leadership. You can never get ahead by just trying to catch up. Unfortunately, I think America's automobile manufacturing industry is on the wane and will continue the decline.
Believe me, nothing would make me happier than to re-read these comments in 20 years and realize how utterly wrong I was when I made them, but I don't see that happening.
America didn't lose its automotive leadership...it threw it away.
Yes we did have the lead in auto manufacturing once upon a time and squandered it away and the Asian countries have since shown us the meaning of intense competition.
Americans have always been able to rise up and take over whenever a situation has threatened their existance or livelihood. I wonder if we still have it in us to answer this challenge. I hope so and I plan to do my small part to try and make that happen.
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The good news...
Cobolt 80% US/Canadian
Malibu 85% US/Canadian
Impala 82% US/Canadian
The bad news....
Equinox 55% US/Canadian
HHR 40% US/Canadian
Aveo 5% US/Canadian
The US lost dominance in semi-conductor manufacturing when it decided that memory chips were not profitable and moved manufacturing to Asia.
Last week, I read an article that stated GM is exploring the possibility of "outsourcing"its body panel manufacturing needs, as that function is not profitable and can be done cheaper by a 3rd party (read China). Is there a common thread here? I hope not!
OK, I'll shut up about this issue now.
One last thought, however...I spent a few minutes in and around the Malibu, and I must admit it is a fine looking automobile. If someone was looking for a functional mid-size auto made primarily in North America, this would probably be the car of choice.
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Car_man
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Car_man
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what is the residual values for 24 36 months with 12k and 15k per year
What is the money factor
As you can see, GMAC publishes lease rates instead of money factors for vehicles. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400.
Car_man
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i.e 3.15/2400
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