Thanks for the vote of confidence - I can use it right now. Still struggling with the whole "pay for something you don't own at the end" that is leasing. Probably why I'm just a working class dog in the end...
2015 Malibu: Going to lease one tomorrow
- Thread starter stevejones
- Start date
- Status
Originally Posted By: stevejones
Originally Posted By: Quattro Pete
A lot of different conditions need to be met for start/stop to engage... Engine fully warmed up, ac not running particularly high, etc.
Good to know. So it's automatic?
Not sure about your particular car, but in ours it first needs to be enabled manually, but once enabled it is automatic. On a hot sunny day, it'll almost never engage because HVAC is trying hard to keep the cabin cool.
Originally Posted By: Quattro Pete
A lot of different conditions need to be met for start/stop to engage... Engine fully warmed up, ac not running particularly high, etc.
Good to know. So it's automatic?
Not sure about your particular car, but in ours it first needs to be enabled manually, but once enabled it is automatic. On a hot sunny day, it'll almost never engage because HVAC is trying hard to keep the cabin cool.
Only because you keep bringing it up...
Originally Posted By: stevejones
Still struggling with the whole "pay for something you don't own at the end" that is leasing.
Eh...I personally think that life's too short to dwell on decisions like this. Maybe it was a good one, maybe not. Here's what I'd do, though. If you can, I'd make what you feel is a reasonable "car payment" every month to yourself. $135/month goes to GM, and maybe $265 goes to your savings account. After the 24 months is up, you'll have over $6,000 in that account.
And, after the 24 months is up, you could buy the Malibu if you like it, or look for something else. You'll also have a better idea by then if you like leasing or if you prefer purchasing. Your $6,350 would make a lot of lease payments on the next lease or it'd be a healthy down payment on something else (or on the Malibu if you like it).
Originally Posted By: stevejones
Still struggling with the whole "pay for something you don't own at the end" that is leasing.
Eh...I personally think that life's too short to dwell on decisions like this. Maybe it was a good one, maybe not. Here's what I'd do, though. If you can, I'd make what you feel is a reasonable "car payment" every month to yourself. $135/month goes to GM, and maybe $265 goes to your savings account. After the 24 months is up, you'll have over $6,000 in that account.
And, after the 24 months is up, you could buy the Malibu if you like it, or look for something else. You'll also have a better idea by then if you like leasing or if you prefer purchasing. Your $6,350 would make a lot of lease payments on the next lease or it'd be a healthy down payment on something else (or on the Malibu if you like it).
^^^There ya go. Kind of like an extended test drive.
If the Malibu performs well and has good repair history it might be worth keeping...
If the Malibu performs well and has good repair history it might be worth keeping...
$135 a month for a new midsize car for 2 years is a decent deal. If anything breaks bring it back to the dealer.
Originally Posted By: Skillet1
Just got rid of a 2015 Malibu after only 6000 miles. The stop/start set up was not confidence inspiring. I had one instance when the car started missing real bad after a start/stop event. They found a 0P300 code (random misfire). Could not find anything else wrong. Cleared the code and sent me on my way. A few weeks later after a start/stop event the car would not go at all. Push on the gas pedal and it sat there. Finally moved. The Ecotec 2.5 is a great motor, just need the electronics to tell it when to go. Went out and bought another car the next day. Not GM either. GM let me down on this one.
Until GM figures out how to make a start/stop with Prius reliability, Leasing might be the future of "owning" GM cars.
Just got rid of a 2015 Malibu after only 6000 miles. The stop/start set up was not confidence inspiring. I had one instance when the car started missing real bad after a start/stop event. They found a 0P300 code (random misfire). Could not find anything else wrong. Cleared the code and sent me on my way. A few weeks later after a start/stop event the car would not go at all. Push on the gas pedal and it sat there. Finally moved. The Ecotec 2.5 is a great motor, just need the electronics to tell it when to go. Went out and bought another car the next day. Not GM either. GM let me down on this one.
Until GM figures out how to make a start/stop with Prius reliability, Leasing might be the future of "owning" GM cars.
Originally Posted By: Hokiefyd
Only because you keep bringing it up...
Dang, man - it's only been a day or so! Let me have some slack to get thru buyers remorse!
So we got the whole start/stop thing figured out: gotta put the AC button on green vs amber; at least during the summer. Took it into town & the feature activated at a couple of redlights. Just like a golfcart, hit the gas & took rite off. Pretty seamless, in my opinion.
As for the long term, just looked at the contract & the residual is $16.7K. If it performs well I may try to buy it two years - I really like this machine at this point. But I won't pay that for it - maybe $15K. I gotta believe there's wriggle-room when buying a lease - I'm sure they'd rather sell it to the current lessee than deal with putting it back on the market.
Only because you keep bringing it up...
Dang, man - it's only been a day or so! Let me have some slack to get thru buyers remorse!
So we got the whole start/stop thing figured out: gotta put the AC button on green vs amber; at least during the summer. Took it into town & the feature activated at a couple of redlights. Just like a golfcart, hit the gas & took rite off. Pretty seamless, in my opinion.
As for the long term, just looked at the contract & the residual is $16.7K. If it performs well I may try to buy it two years - I really like this machine at this point. But I won't pay that for it - maybe $15K. I gotta believe there's wriggle-room when buying a lease - I'm sure they'd rather sell it to the current lessee than deal with putting it back on the market.
Originally Posted By: stevejones
As for the long term, just looked at the contract & the residual is $16.7K. If it performs well I may try to buy it two years - I really like this machine at this point. But I won't pay that for it - maybe $15K. I gotta believe there's wriggle-room when buying a lease - I'm sure they'd rather sell it to the current lessee than deal with putting it back on the market.
$135/month * 24 = $3,240...+ $16,700 = $19,940.
That's probably not a terrible price for a Malibu, which Chevrolet advertises as starting at $22,465.
You may be right about negotiation at the end. They probably know as well as you do that they won't get much more than $14-15k for it if they put it out to market, so if you showed up with that amount at lease-end, you may be able to score it.
In the end, if you buy it for $15,000 after leasing it for $3,240, you'll have $18,240 in a car that stickers for at least $4,000 higher than that.
Probably not a bad deal...
As for the long term, just looked at the contract & the residual is $16.7K. If it performs well I may try to buy it two years - I really like this machine at this point. But I won't pay that for it - maybe $15K. I gotta believe there's wriggle-room when buying a lease - I'm sure they'd rather sell it to the current lessee than deal with putting it back on the market.
$135/month * 24 = $3,240...+ $16,700 = $19,940.
That's probably not a terrible price for a Malibu, which Chevrolet advertises as starting at $22,465.
You may be right about negotiation at the end. They probably know as well as you do that they won't get much more than $14-15k for it if they put it out to market, so if you showed up with that amount at lease-end, you may be able to score it.
In the end, if you buy it for $15,000 after leasing it for $3,240, you'll have $18,240 in a car that stickers for at least $4,000 higher than that.
Probably not a bad deal...
Thanks. The car stickered at $26.1K, including destination. $23.7 for the LT base, plus $1.6 for the Power Convenience Package...
Originally Posted By: stevejones
Originally Posted By: spasm3
nice price, is that a no money down price?
Not counting trading in my old truck, correct.
I am still not getting it. Did you trade in your truck or not? If you did, then obviously, that is already factored in the calculations unless you got bank check from the dealer for your trade in amount. It will be a cold day in hades for that to happen.
Am I too stupid to understand leases? Please don't answer that!
Originally Posted By: spasm3
nice price, is that a no money down price?
Not counting trading in my old truck, correct.
I am still not getting it. Did you trade in your truck or not? If you did, then obviously, that is already factored in the calculations unless you got bank check from the dealer for your trade in amount. It will be a cold day in hades for that to happen.
Am I too stupid to understand leases? Please don't answer that!
I traded in my truck. One thousand dollars (value of truck) was then applied as a down payment on the lease.
Last edited:
OK, so that needs to be added to your calculations! I understand that it was peanuts but I still do not understand why that was not taken in to account in the previous replies.
May be you did and the price dropped from $167/mo to $137/mo because of the trade-in? That would make sense!
May be you did and the price dropped from $167/mo to $137/mo because of the trade-in? That would make sense!
Last edited:
Wow could have sold the silverado for a LOT more than $1000 around here! And the silverado just runs...
He described his trade as a...
Quote:
rotted out '99 Sonoma
1,000 bucks for a rotted S-10 clone is a great deal in my opinion.
Given all of the information in this thread, I think OP made out pretty good in this deal.
Quote:
rotted out '99 Sonoma
1,000 bucks for a rotted S-10 clone is a great deal in my opinion.
Given all of the information in this thread, I think OP made out pretty good in this deal.
Ok though he said silverado
Originally Posted By: Vikas
He said 99 Sonoma; I have no idea if the trade-in was fair or not but all that matters is OP decided that it was good enough.
Correct, Sonoma (or GMC S10). And yes, the $1K was more than fair. Reg cab shortbox 2WD 4 cylinder 5 speed. It had AC, cruise, tilt, and a CD player. I bought it new in July '99 for $8800 OTD, not a dime out of my pocket. Rebates & my $3K GM card earnings really brought the price down from the $15K sticker. GM was selling full-sized trucks hand over first & pushed the 4-cylinders for CAFE.
Drove it to nearly 193K. It still ran (and stopped), but was rusting very badly. Rockers, cab corners, box, brake lines, etc. It was time for it to go.
And yes, the trade-in is what dropped the payment to $136. Plus I had around $200 on my current GM card.
He said 99 Sonoma; I have no idea if the trade-in was fair or not but all that matters is OP decided that it was good enough.
Correct, Sonoma (or GMC S10). And yes, the $1K was more than fair. Reg cab shortbox 2WD 4 cylinder 5 speed. It had AC, cruise, tilt, and a CD player. I bought it new in July '99 for $8800 OTD, not a dime out of my pocket. Rebates & my $3K GM card earnings really brought the price down from the $15K sticker. GM was selling full-sized trucks hand over first & pushed the 4-cylinders for CAFE.
Drove it to nearly 193K. It still ran (and stopped), but was rusting very badly. Rockers, cab corners, box, brake lines, etc. It was time for it to go.
And yes, the trade-in is what dropped the payment to $136. Plus I had around $200 on my current GM card.
Last edited:
By the way, assuming you had made $200+$1000 as the down payment, the drop from $167 should have been larger than what you ended up; your payment should be $117!
But I am sure they came up with extra stuff on the bottomline. Besides, you were ready at $167; so at $136 you were too thrilled to even check the numbers any further
But I am sure they came up with extra stuff on the bottomline. Besides, you were ready at $167; so at $136 you were too thrilled to even check the numbers any further
You pretty much summed up how I felt. I was OTD for $136 & my old truck was gone with the stroke of a pen. Probably an element of laziness & wanting to get on with the rest of my day made it seem fair.
You people get reaaaaaal interested in the numbers when it comes to lease deals around here.
- Status
