2013 and Earlier Chevrolet Malibu Lease Questions

CarMan@Edmunds

Hey ddelise. Congratulations on getting your new Malibu. How do you like it? Thanks for taking the time to share the details of your lease with everyone. Make sure to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others. Thanks again and enjoy your new ride!

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi localcelebrity. If you want the lowest monthly payment then you definitely want to go with a lease. Unfortunately, I am not sure if GMAC will approve you to lease a new vehicle if you do not have a steady job. They might if you can find someone to co-sign your lease. When you visit the dealer, explain your situation to them but do not let it have an impact upon your deal. If they say that you can lease a new Malibu, negotiate as low a selling price as possible on the car that you want and then have the dealer calculate your monthly payment using GMAC's 2.3% base lease rate.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

ddelise

Thanks Car_Man for all the info. I will go ahead and complete the dealer review.

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

CarMan@Edmunds

No problem, ddelise. I'm glad that you like the Malibu so much.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

jao6304

Car_man,

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.

g6leaser

Right at 50% for 39 months....36 months probably very close as well.

g6leaser

Just leased a 08 Malibu for 39 months - was 53%....12k year

g6leaser

08 Malibu 2LT - MSRP 25,015 - paid supplier price of 23,982.
3.15 APR - First month down of 376 - 376/month - 39months - 39,000 miles...

Fair?

40yearfan

Looks great to me. Hope you enjoy yours as much as we are enjoying ours.

g6leaser

Please see above and let me know if you think it was a good deal...
Thanks,
er

kinneyrhs

Hello All:

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!!

40yearfan

Hey kinneyrhs:

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.

kinneyrhs

Thanks for the info. I believe I have read your thread on your lease, but would you mind telling me again all the specs you got on your lease?

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?

40yearfan

Depends on the length of the lease, the residual and the interest rate. I'm not sure whether GMAC is offering any kind of incentives on the Malibu right now. Check out www.chevrolet.com to see what kind of incentives, if any, they are offering in your part of the country.">link title

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?

packer3

I live in NJ right now the GMAC lease rate is 7%.
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.

jaxs1

Those are kind of made up out of the air payments for the Malibu.
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?

packer3

That's why people like you steer other people in the wrong direction, these are facts, I have both cars a week now so it's not old news, you could also go on the Paramus Chevy nj web site and see for your self. As they say facts dont lie, liars do. I also have been leasing Chevys (GM) since 1990, if I would have gotten the same deal from Chevy as I did for the Honda, a new Malibu would be sitting in my drive way along with a new Equniox.

jaxs1

I am not steering anyone anywhere. I asked for someone to post official GMAC lease numbers, not and ad from a NJ dealer's website.

It looks strange when someone posts information that's the opposite of what most people in the Honda Accord lease forum here are saying.

packer3

First of all the number I posted was from GMAC, the add I refrered to just spelled out the deal for a new 2008 Malibu not the rate, and why are you asking a Hoda pool for a GM rate, Honda has it's own seperate finance arm. Please read my articles more closely half the questions are asking are already answered, like if you read my first article I out lined all that info about miles, down payments, and monthly cost, which by the way is the most important part your monthly cost. if your budgeting to spend say $150 a month with $500 down on a leased car who cares what the rate is you wont own it at the end anyway.

jaxs1

This is the Chevy forum and I'm asking for the GM rate here, not in the Honda forum.

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.)

40yearfan

If all you are worried about is dollars, I'm sure you can find a better deal than a Malibu right now as it is one of the hottest cars in the market and the dealers are selling them as fast as they can get them. If you want something new and exciting, something that everyone will stop and stare at and ask questions about, a Honda Accord is not going to cut it. That's why I got the Malibu and paid a little more for it.

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.

CarMan@Edmunds

Here you go, jao6304. GMAC's current base lease rate and residual value for a 36 month lease of a 2008 Chevrolet Malibu with 15,000 miles per year are 3.15% and 51%, respectively.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi g6leaser. General Motors' supplier purchase program provides pretty good deals, so you probably did fine on your Malibu, price-wise. Also, the lease rate that you were quoted is right in line with GMAC's base rate for this model. This looks like a good deal to me. Enjoy your new car.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi kinneyrhs. You are going to get a great deal on this car if you can lease it at the GMS price. You never mentioned how long you want to lease this car for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. GMAC's current base lease rate and residual value for a 36 month lease of a 2008 Chevrolet Malibu with 15,000 miles per year are 3.15% and 51%, respectively.

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
Host
Prices Paid: Buying & Leasing Experiences Forum

g6leaser

After watching this forum and doing a ton of research on true market value's and what other people have paid for the vehicle - I did fairly well - maybe could have knocked 5 to 10 bucks off my lease price - but to put so little down (only first month payment) and to pay 370 bucks a month is fine by me for this hot new ride - so many compliments and it's fun to drive - my G6 was fun to drive, but this actually provides more enjoyment than my G6 - and that was a V6, I only have the 4 in my 2LT Malibu....

The residual was 53% for 39 months - which seems poor to me, the car should retain more of its value in my opinion...

jaxs1

Thanks. I didn't think 7% sounded even close to correct.

packer3

I guess I didn't pull that $370 a month range I quoted with no money down number out of my hat. Don't get me wrong as I said I have been leasing nothing but Chevys since 1990, and the car 2004 LS Malibu V6 great engine by the way real smooth good power and pretty quiet, I turned it in for the Accord EXP with a $1,000 down @$260.00 36 mth, 12,000 miles a year one of the main reasons was the lease cost, and some quality issues. But Paying $370 for a Malibu 4cyl no way, I would have rather put down $3,000 for a BMW, or a Caddy for that kind of monthly cost.
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.

packer3

Again when you are leasing who cares about rates, if you can lease a car with hardly any thing down and get real low monthly payments you have met your objective who wants to pay apartment rent money for a car, your not buying the car car.
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.

jaxs1

The Malibu looks nice and you don't see them around much yet because of the level of sales. There is a shortage because of a production limitations, not demand. The demand is nowhere near the demand for Camrys or Accords or the dealers would never have any on their lots with the slow rate of current deliveries.

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.

40yearfan

GM's truck and SUV sales were down 22 percent in March while its car sales fell 14 percent. New vehicles like the Chevrolet Malibu were a bright spot, with sales up 17 percent, but sales of Chevrolet pickups were down 25 percent while sales of GM's gas-guzzling Hummer brand were down 29 percent. GM's sales were down 11 percent for the first quarter.

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

jaxs1

Yes, sales are better than the old Malibu by 17%, but it isn't going to overtake the Camry for best selling car in the US anytime soon. Can they even sell 50% of the Camry's volume?
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.

40yearfan

How did this degenerate into Toyotas and Hondas versus Malibus? The last time I looked, this was a forum to discuss the Malibu. Doesn't Edmunds also have forums to discuss these other models?

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.

jaxs1

The point is about the Malibu and the fact that sales are not as spectacular as the poster was trying to say. Any shortage is a direct result of low levels of production and shipping, not some massive volume of sales.

busiris

You know, I really like the new Malibu, especially the dash layout.

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???

40yearfan

There isn't a car maker out there who wouldn't give their eye teeth to have a 17% increase in sales today. Most of they have a double digit negative in sales. If Gm didn't have that increase in sales, Malibus would be available and at a cheaper rate.

You are entitled to your opinion. I disagree with you.

40yearfan

Not really confusing. American car companies with their headquarters in the US keep their profits in this country. Foreign companies such as BMW, Nissan, Honda, etc. send their profits back to their countries of origin.

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.

busiris

To me, it really isn't about where the profit is recognized or kept. And, I would suspect that the American worker could care less about that as well...after all, isn't it about the jobs?

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.

40yearfan

You got it totally backwards busiris. I am saying Americans should buy cars made in America by American workers working for American companies who will use their profits creating more American jobs.

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.

busiris

That we can certainly both agree on!

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.

40yearfan

I can't argue with a thing you have in your post. In my management position, I've dealt with unions for many years and have no problems with them. They are the reason we have a middle class in this country.

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.

busiris

One last note...I visited the local Chevy dealer today and examined some window stickers to determine where the car was built. Of the cars I examined....

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.

40yearfan

link title

mykids05

when to a Chevy dealer to get quote on a malibu LT. I want to trade a 2005 toyota sienna with 26 month left on lease. They gave me a quote :surprise: of 440.00 for 36 month. Need your help to make a wise decision.

CarMan@Edmunds

You're very welcome, g6leaser. Enjoy your new Malibu.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi everyone. While the buy American discussion is interesting, this really isn't the place for it. This particular discussion was created for consumers to discuss leasing the Chevrolet Malibu. Let's try to keep things on-topic. Thanks .

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

frankb036

Car man
what is the residual values for 24 36 months with 12k and 15k per year
What is the money factor

CarMan@Edmunds

Hi frankb036. GMAC's current base lease rate and residual value for a 24 month lease of a 2008 Chevrolet Malibu with 15,000 miles per year are 3.15% and 63%, respectively. The numbers for an otherwise identical 36 month lease are 3.15% and 51%. If you were to lease this car with only 12,000 miles per year, its 24 month resid would be 1% higher and its 36 month residual value would be 3% higher.

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
Host
Prices Paid: Buying & Leasing Experiences Forum

frankb036

thanks Car_man

cdcruizer05

Car Man is that formula to calculate money factor used for any automaker?

i.e 3.15/2400

CarMan@Edmunds

No problem, frankb036.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum