Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Did you get a great deal? Let us know in the Values & Prices Paid section!
Meet your fellow owners in our Owners Clubs

Requesting money factor and residual on Chevy Cruze and Malibu

sdhan_85sdhan_85 Posts: 8
edited February 5 in Chevrolet
Hello All,

I'm planning to lease a Chevy on the last weekend of this December in Maryland (20852) and get a great deal.

A )
I'm considering the following options (pretty much any of the inventory that will be available now) -

a) 2017 Chevy Cruze Hatchback LT (Automatic)
b) 2017 Chevy Cruze Hatchback Premier (Automatic)

c) 2017 Chevy Cruze Sedan LT (Automatic)
d) 2017 Chevy Cruze Sedan Premier (Automatic)

e) 2017 Chevy Malibu LT Sedan (Automatic)
f) 2017 Chevy Malibu LT Hybrid Sedan (Automatic)

Lease term will be 36 months.

Can you please share the money factor and residual for each of the above year+model+trim options?


B )
Also, I'd appreciate your insight on how to go about the order for negotiation - I plan to negotiate the selling price, then work out the lease payments (ensure that the money factor is not marked up, pay the first tax payment and DMV fees upfront and include everything else in the cap cost) and then discuss the trade-in value of my current car. Would you consider this a good approach? Or should I do one before the other? Any tips on trade-ins on the last two days of the month and of the year?

Many thanks for your help and advice.

-Sandi

Comments

  • kyfdxkyfdx Posts: 116,380
    sdhan_85 said:

    Hello All,

    I'm planning to lease a Chevy on the last weekend of this December in Maryland (20852) and get a great deal.

    A )
    I'm considering the following options (pretty much any of the inventory that will be available now) -

    a) 2017 Chevy Cruze Hatchback LT (Automatic)
    b) 2017 Chevy Cruze Hatchback Premier (Automatic)

    c) 2017 Chevy Cruze Sedan LT (Automatic)
    d) 2017 Chevy Cruze Sedan Premier (Automatic)

    e) 2017 Chevy Malibu LT Sedan (Automatic)
    f) 2017 Chevy Malibu LT Hybrid Sedan (Automatic)

    Lease term will be 36 months.

    Can you please share the money factor and residual for each of the above year+model+trim options?


    B )
    Also, I'd appreciate your insight on how to go about the order for negotiation - I plan to negotiate the selling price, then work out the lease payments (ensure that the money factor is not marked up, pay the first tax payment and DMV fees upfront and include everything else in the cap cost) and then discuss the trade-in value of my current car. Would you consider this a good approach? Or should I do one before the other? Any tips on trade-ins on the last two days of the month and of the year?

    Many thanks for your help and advice.

    -Sandi

    Cruze: .00080 MF and 50% residual for 36/15. All trims/styles
    Malibu: .00097 MF and 52% residual for 36/15. All trims/styles

    First.. make sure any dealer you approach actually has the vehicle you are interested in on their lot. No point in going through everything, only to end up with them trying to sell you something you don't want.

    Second.. before negotiating, get them to appraise your trade. No point in getting a killer deal, only to find out they are low-balling your trade to make up for it.

    Have a Carmax franchise, nearby? They will give you a bid for your car, that is good for seven days. That way, you have an independent offer for your current vehicle that you can compare.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • sdhan_85sdhan_85 Posts: 8
    edited December 2017
    kyfdx said:

    sdhan_85 said:

    Hello All,

    I'm planning to lease a Chevy on the last weekend of this December in Maryland (20852) and get a great deal.

    A )
    I'm considering the following options (pretty much any of the inventory that will be available now) -

    a) 2017 Chevy Cruze Hatchback LT (Automatic)
    b) 2017 Chevy Cruze Hatchback Premier (Automatic)

    c) 2017 Chevy Cruze Sedan LT (Automatic)
    d) 2017 Chevy Cruze Sedan Premier (Automatic)

    e) 2017 Chevy Malibu LT Sedan (Automatic)
    f) 2017 Chevy Malibu LT Hybrid Sedan (Automatic)

    Lease term will be 36 months.

    Can you please share the money factor and residual for each of the above year+model+trim options?


    B )
    Also, I'd appreciate your insight on how to go about the order for negotiation - I plan to negotiate the selling price, then work out the lease payments (ensure that the money factor is not marked up, pay the first tax payment and DMV fees upfront and include everything else in the cap cost) and then discuss the trade-in value of my current car. Would you consider this a good approach? Or should I do one before the other? Any tips on trade-ins on the last two days of the month and of the year?

    Many thanks for your help and advice.

    -Sandi

    Cruze: .00080 MF and 50% residual for 36/15. All trims/styles
    Malibu: .00097 MF and 52% residual for 36/15. All trims/styles

    First.. make sure any dealer you approach actually has the vehicle you are interested in on their lot. No point in going through everything, only to end up with them trying to sell you something you don't want.

    Second.. before negotiating, get them to appraise your trade. No point in getting a killer deal, only to find out they are low-balling your trade to make up for it.

    Have a Carmax franchise, nearby? They will give you a bid for your car, that is good for seven days. That way, you have an independent offer for your current vehicle that you can compare.

    Thanks so much for the advice.

    -I should have mentioned - I did get a quote from CarMax (a month and a half ago though) and have a number. Should I get one again for a more recent eval or should the earlier one be enough for reference/leverage?

    -Are the above MF values applicable to everyone? Or does one need to be in a specific credit score range to be eligible/be able to demand this? I'm in the 700s (decent range), but wanted to get an idea of how to leverage that, if applicable.

    -Are the mileage limits standard across dealerships? Or are determined by the dealer? Or will I be able to choose what I want? Are there any pointers on how the MF should adjust for different mileage limits - say if I am offered/choose 10k or 12k mile limit, instead of 15k limit for each year?

    Many thanks,
    Sandi
  • kyfdxkyfdx Posts: 116,380
    sdhan_85 said:

    kyfdx said:

    sdhan_85 said:

    Hello All,

    I'm planning to lease a Chevy on the last weekend of this December in Maryland (20852) and get a great deal.

    A )
    I'm considering the following options (pretty much any of the inventory that will be available now) -

    a) 2017 Chevy Cruze Hatchback LT (Automatic)
    b) 2017 Chevy Cruze Hatchback Premier (Automatic)

    c) 2017 Chevy Cruze Sedan LT (Automatic)
    d) 2017 Chevy Cruze Sedan Premier (Automatic)

    e) 2017 Chevy Malibu LT Sedan (Automatic)
    f) 2017 Chevy Malibu LT Hybrid Sedan (Automatic)

    Lease term will be 36 months.

    Can you please share the money factor and residual for each of the above year+model+trim options?


    B )
    Also, I'd appreciate your insight on how to go about the order for negotiation - I plan to negotiate the selling price, then work out the lease payments (ensure that the money factor is not marked up, pay the first tax payment and DMV fees upfront and include everything else in the cap cost) and then discuss the trade-in value of my current car. Would you consider this a good approach? Or should I do one before the other? Any tips on trade-ins on the last two days of the month and of the year?

    Many thanks for your help and advice.

    -Sandi

    Cruze: .00080 MF and 50% residual for 36/15. All trims/styles
    Malibu: .00097 MF and 52% residual for 36/15. All trims/styles

    First.. make sure any dealer you approach actually has the vehicle you are interested in on their lot. No point in going through everything, only to end up with them trying to sell you something you don't want.

    Second.. before negotiating, get them to appraise your trade. No point in getting a killer deal, only to find out they are low-balling your trade to make up for it.

    Have a Carmax franchise, nearby? They will give you a bid for your car, that is good for seven days. That way, you have an independent offer for your current vehicle that you can compare.

    Thanks so much for the advice.

    -I should have mentioned - I did get a quote from CarMax (a month and a half ago though) and have a number. Should I get one again for a more recent eval or should the earlier one be enough for reference/leverage?

    -Are the above MF values applicable to everyone? Or does one need to be in a specific credit score range to be eligible/be able to demand this? I'm in the 700s (decent range), but wanted to get an idea of how to leverage that, if applicable.

    -Are the mileage limits standard across dealerships? Or are determined by the dealer? Or will I be able to choose what I want? Are there any pointers on how the MF should adjust for different mileage limits - say if I am offered/choose 10k or 12k mile limit, instead of 15k limit for each year?

    Many thanks,
    Sandi
    You should get a current quote from Carmax

    These are the top tier money factors. If you don't qualify, your rate will be higher.

    Residuals are set by GM Financial. Dealer cannot alter them.
    Money factors don't change for different mileage allowances. Only the residuals
    For 36 months, add 3% or 2% to the 15K/yr residual for 10K/12K/yr

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • nixternixter Posts: 11
    Need a little help. Looking for the money factor and residual on 2018 Cruze LT with 10,000 miles at 24, 36 and 39 months.

    Thanks!
  • MichaellMichaell ColoradoPosts: 107,333
    nixter said:

    Need a little help. Looking for the money factor and residual on 2018 Cruze LT with 10,000 miles at 24, 36 and 39 months.

    Thanks!

    To get the most accurate information, what ZIP is this?

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • nixternixter Posts: 11
    Zip is 50021. Thanks!
  • kyfdxkyfdx Posts: 116,380
    nixter said:

    Need a little help. Looking for the money factor and residual on 2018 Cruze LT with 10,000 miles at 24, 36 and 39 months.

    Thanks!

    nixter said:

    Zip is 50021. Thanks!

    24: .00102 MF and 59% residual
    36/39: .00148 MF and 52%/50% residual

    $500 lease cash
    +$1000 customer incentive

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • rnb1001rnb1001 Posts: 9
    What is the residual value and mf for a 2018 Chevy Cruze Premier trim for zip code 94939 for 36 months at 10000 and 12000 miles. Is this for GM captive leases, ie leased thru GM? Can you also indicate what the “lease cash” promo is and what the customer incentive is and what is the difference between them? Thanks.
  • MichaellMichaell ColoradoPosts: 107,333
    rnb1001 said:

    What is the residual value and mf for a 2018 Chevy Cruze Premier trim for zip code 94939 for 36 months at 10000 and 12000 miles. Is this for GM captive leases, ie leased thru GM? Can you also indicate what the “lease cash” promo is and what the customer incentive is and what is the difference between them? Thanks.

    .00148 and 52% / 51%
    $500 lease cash
    $750 regional incentive

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • rnb1001rnb1001 Posts: 9
    Why are the regional incentives 1K lower in N. CA than in the northeast and Michigan?
  • MichaellMichaell ColoradoPosts: 107,333
    rnb1001 said:

    Why are the regional incentives 1K lower in N. CA than in the northeast and Michigan?

    Can't answer that, but likely that GM thinks they can move more inventory with the higher incentives.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • rnb1001rnb1001 Posts: 9
    this question deals w/what is reasonable or possible in negotiating the market price that will be used for lease calculations. I ordered the car through a dealership and it has been built by GM and is en route to the SF Bay Area. It's a Cruze Premier with an MSRP. Tru Value says that the average selling price before any incentives is about 26,000.00. Car Gurus says that 26K is a fair price and 25K is a good price and anything south of that is a great deal. I have the residual value, money, factor etc. 25K is about 10% off MSRP. Any thoughts on a negotiating strategy. How much leverage, if any, do you have when you order a car?
  • kyfdxkyfdx Posts: 116,380
    rnb1001 said:

    this question deals w/what is reasonable or possible in negotiating the market price that will be used for lease calculations. I ordered the car through a dealership and it has been built by GM and is en route to the SF Bay Area. It's a Cruze Premier with an MSRP. Tru Value says that the average selling price before any incentives is about 26,000.00. Car Gurus says that 26K is a fair price and 25K is a good price and anything south of that is a great deal. I have the residual value, money, factor etc. 25K is about 10% off MSRP. Any thoughts on a negotiating strategy. How much leverage, if any, do you have when you order a car?

    We don't track pricing. But, when "your" car shows up, and you haven't negotiated the price before ordering, I'd think your leverage goes way down. I would have recommended negotiating the price before ordering.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • rnb1001rnb1001 Posts: 9
    How often do residual value percentages and the money factor change? Curious where you get the information?
  • MichaellMichaell ColoradoPosts: 107,333
    rnb1001 said:

    How often do residual value percentages and the money factor change? Curious where you get the information?

    Generally, every month for GM.

    Sources are confidential....

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • rnb1001rnb1001 Posts: 9
    2018 Chevy Cruze Premier trim for zip code 94939 for a 10K and 12K lease

    Have the numbers below changed? Might they be different on Sunday July 1st, the day I am supposed to buy the car (since we will be into a new month.) I'm our of town now. I know the incentive dollars themselves are good until July 2nd.

    Thanks.

    .00148 and 52% / 51%
    $500 lease cash
    $750 regional incentive

  • MichaellMichaell ColoradoPosts: 107,333
    rnb1001 said:

    2018 Chevy Cruze Premier trim for zip code 94939 for a 10K and 12K lease

    Have the numbers below changed? Might they be different on Sunday July 1st, the day I am supposed to buy the car (since we will be into a new month.) I'm our of town now. I know the incentive dollars themselves are good until July 2nd.

    Thanks.

    .00148 and 52% / 51%
    $500 lease cash
    $750 regional incentive

    What lease term?

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • rnb1001rnb1001 Posts: 9
    36 months.
  • kyfdxkyfdx Posts: 116,380
    rnb1001 said:

    36 months.

    No changes..

    Program runs through Monday

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • rnb1001rnb1001 Posts: 9
    Thanks.
  • KLAMARGROUPKLAMARGROUP 80528Posts: 1
    I am thinking to lease a very low mileage used 2017 malibu hybrid for 36 months. What would be the money factor and residual ( in 2022 ). My zip code is 80528. Thanks
  • kyfdxkyfdx Posts: 116,380

    I am thinking to lease a very low mileage used 2017 malibu hybrid for 36 months. What would be the money factor and residual ( in 2022 ). My zip code is 80528. Thanks

    We don't have any information on used car leases.

    Generally, you can get a better payment on a new car.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

Sign In or Register to comment.