Chevrolet Impala Lease Questions

kyfdx

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pgh111

Does any one know the lease specs for 2007 Impala LTZ? Items such as residual %, interest rate, rebates? Any help is appreciated.

CarMan@Edmunds

I can give you an idea of what this car's lease program is like, pgh111. This car's numbers very depending upon how long you lease it for and its mileage allowance. 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 2007 Chevrolet Impala with 15,000 miles per year are 4.0% and 52%, respectively. When negotiating your lease on this car, make sure to take the $1,250 lease cash that GM is currently providing on it into account. This cash will help you to negotiate an attractive capitalized cost.

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alfred8

Hello Car_man. I'm looking at a 2007 Impala SS with a GMS price of $28,002. Same situation as above with 36 months and 15,000 miles per year. Does the 4% lease rate, 52% residual and $1,250 lease cash still apply? Also, is a $600 acquisition fee still applicable? Thanks.

u03128007

I'm also interested in the LTZ lease specs. How about 12,000 mpy? Also, I haven't seen the $1250 lease cash listed anywhere, only the $1000 cash to customer.

pgh111

Hi all,

Just leased a 2007 Impala LT with everything, heated leather, sunroof, 6-disc bose system, red jewel tintcoat. Odd that you can build an LT identical to and LTZ, what is the point of the LTZ????
The lease program in my area (Pittsburgh) is great right now. 3 years - 10k per year, $2000 lease cash, 57% residual, 4% rate. Hopefully this helps.

u03128007

I think there might be 1 or 2 small items on the LTZ not on the LT. I'm looking for lease numbers from local dealers on the other side of the state. I got a buy price on a fully loaded LTZ MSRP $28130 which they will sell for $24305 which sounded pretty reasonable to me but I'm waiting for the lease numbers.

CarMan@Edmunds

Hello alfred8. The lease rate and residual value for this car are still the same, but you are in luck because GM raised its cash incentives on it to $2,000 lease cash plus $500 bonus cash ($2,500 total) this month. GMAC's lease acquisition fee is still $595.

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CarMan@Edmunds

Hi u03128007. Please see my previous post for information on this car's lease program. General Motors incentives for this car are the same, regardless of trim level.

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pgh111

Dear host, I leased my 3LT on Saturday 10/21, I only received $2000 lease cash. I am in Pittsburgh, PA, should I have received $2500 in lease cash? If so, I am guessing I have no recourse do I?

CarMan@Edmunds

Hi pgh111. I wouldn't say that you were ripped off. GMAC is currently only providing $2,000 lease cash on this car. GM is providing an additional $500 bonus cash on it that one should be able to use to their advantage when negotiating its selling price. What was the MSRP and selling price of your car? If you let me know I will be happy to tell you what I think of the deal that you got on it.

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pgh111

Dear host,

I leased an Impala 3LT with an MSRP of $28,055. The purchase price of the car was $27,218. The residual for 3 yrs/10k per year was 57% and the rate was 4.0%. I had a coupon that bumped my GM points up by $1000, so I had a total of $2500 in GM Points. I suspect that the $500 bonus couldn't be used in conjunction with the extra $1000 the offered me. So in total my cap. cost was reduced by $4500 with the lease cash and gm points. I suspect I could have done a little better with the purchase price, by my estimate, about $500. What are your thoughts on this deal?

u03128007

LTZ MSRP 28130 Sale Price 27032 Lease csh 2500 Net 24532
I WAS QUOTED 359/month for 36 month 12K mpy with 1290.80 due at start for 1st month, taxes, tags. If I use your 52% residual and 4% interest the calculation comes close to the 359. I am in Pennsylvania but dealing in Delaware. I'm not sure how the tax works. Delaware has no sales tax but PA is 6% and there might be an additional 3% on leased vehicles. Also might it be better to pay the tax up-front and use it as income tax deduction rather than spread it over the 3 years?

alfred8

Hello Car_man. Thanks for the reply. The 5 dealers in Metro Detroit I checked with are only offering $1880. lease cash with no bonus cash. GM says on their web page that they have $500. bonus cash on the Grand Prix but not the Impala in regards to leasing for GMS pricing. In your opinion are they holding out on me? Thanks again.

bheist

Took possession of an 07 LTZ fully loaded including pin stripes & door edge guards, Imperial blue, gray interior, on 11/3. MSRP $28130 + the stripes & guards. $27031 + 595 acquisition, + transfer & doc fees. 3yr/12k a year 54% residual, 4% finance, $2000 lease cash + $2000 in GM points, + $4000 for a trade. After initial quotes of $330+ a month it came down to about $196. Might have been able to push it down a small amout more but am happy with the experience. The manager told me the cash back number is zip code dependent.

CarMan@Edmunds

Hi pgh111. There isn't much of a margin between this car's MSRP and dealer invoice price, only about $1,300 on the car that you described. As a result, the $837 dealer discount that you received really is not as bad as you think it is. It amounts to around $500 over invoice or so. This lease rate that you were quoted for this car is right in line with GMAC's base rate for this model. As long as you received all of the available cash incentives on it, you indicated that you did, I would say that this is a good deal. Enjoy your new ride.

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CarMan@Edmunds

Hello u03128007. The selling price that you were quoted on this car looks reasonable to me. The lease cash that the dealer told you about looks right as well. This looks like a good deal to me. Unfortunately,m as a Pennsylvania resident you cannot avoid paying sales tax on this car by purchasing it in Delaware. You will eventually get billed for PA tax on this car when you go to register it in your home state. I normally roll sales tax into my vehicle's lease payments. I don't know what your specific tax situation is like so it is difficult for me to say whether it would be to your advantage to pay all of this car's tax at lease signing and use it as a deduction.

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CarMan@Edmunds

Hi alfred8. I believe that General Motors is offering $2,000 lease cash on the '07 Impala in all of its regions. It's difficult to say why you were quoted such an odd number, $1,880. It's only a $120 difference, perhaps the dealers in your area are using part of the cash to pay a local ad fee, or something like that.

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CarMan@Edmunds

Congratulations on your new car, bheist. Thanks for taking the time to share the details of your deal with everyone. Enjoy your new ride!

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lisa765

Car_man,

Can you provide some details on the current 2007 Chevy Impala leases?

I am looking at the following:

2007 Impala LS
36 month / 10K miles per year
MSRP: 21,860
Negotiated price (GMS): 20,183.68

I've been told the residual is 57%

I would like to know the lease rate AND
the current lease cash

Can you help me out?
Thanks,
Lisa

CarMan@Edmunds

Hi Lisa. GMAC's current base lease rate and residual value for a 36 month lease of a 2007 Chevrolet Impala LS with 10,000 miles per year are 3.0% and 57%, respectively. When negotiating the capitalized cost for your lease, make sure to take the $1,000 lease cash that General Motors is currently providing on this model into account. Let me know if you have any other questions.

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lisa765

Thanks Car_man, that was exactly the information I was looking for

Lisa

CarMan@Edmunds

You;re very welcome, Lisa.

Car_man
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lisa765

Car_man,

I am looking for an Impala lease again and was hoping you could help me with some information.

I am interested in a 2008 Chevy Impala LS lease for 36 months/36,000 miles. I will be leasing in Nevada if that matters.

Could you tell me the residual?
Base lease rate/buy rate?
Any lease cash available?

Thanks for all your help,
Lisa

CarMan@Edmunds

Hey Lisa. GMAC's current base lease rate and residual value for a 36 month lease of a 2008 Chevrolet Impala with 12,000 miles per year are 2.35% and 55%, respectively. General Motors is currently providing $300 lease cash and $1,000 bonus cash on this model.

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lisa765

Car_man,

Thanks again for your help.

Lisa

CarMan@Edmunds

You're very welcome, Lisa.

Car_man
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lewielew

what should i expect to pay for a new 08 and what should i expect my payments to be w/15k miles a year for 48 mo. 2000 cash back as down payment?

also a 60 mo?

thank you
lew

CarMan@Edmunds

Hi lew. This car's lease payment will vary depending upon what its MSRP and selling price are. You never mentioned what either of these prices are in your post, so I will have to make some assumptions in the sample lease payment that I work up for you. For now I will assume that you are interested in 2008 Chevrolet Impala SS that has an MSRP of $31,215 and a selling price of $29,874 ($500 over invoice). GM is providing lease cash on this car in certain parts of the country, but since you never mentioned where you are I will leave it out for now. According to my calculations, if you were to lease this car through GMAC right now for 48 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $406. You definitely don't want to lease this car for 60 months. GMAC is not providing any support on 5 year leases of it. The $2,000 customer cash incentive that you referenced in your post is not compatible with GMAC's special lease program.

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chris_pa_chevy

Question for Car_man on Lease restrictions.... How restricted are you to altering a leased vehicle? I would like to have stainless steel tips wielded on my leased 07 Impala.

sylviae

How do I OR can I somehow lease a 2008 Impala Ruby Red w/ Sun Roof and 6 CD Prem Sound package--believe it is an LT2??? How do I lease for 36 months for under $330 ??? Is it possible---with no down ???? I am dreaming--right???? Oh yes==I have a 2006 Trailblazer to turn in and my miles are up but lease not until Oct 2008.

CarMan@Edmunds

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@Edmunds

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.

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matt1203

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?

thekraut

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.

howiem2

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@Edmunds

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.

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c99camaro

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@Edmunds

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.

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sunnyh

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.

kyfdx

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..

sunnyh

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_H

Please continue in our 2014 Chevrolet Impala Lease Questions discussion.