2016 Malibu Limited LT lease how did i do?

I just got finished leasing a vehicle for the first time. I leased a 2016 Malibu Limited LT with convenience package and sunroof. I want to know how i did. If it was not for this site, i would of had no clue about the deals currently going on. I traded my 2012 volt.

MSRP 27425

Selling price 25650

incentives 7585 (with volt owner loyalty)

12k miles/24 months

0 down with doc fee, acquisition fee, registration, 1st month lease paymen tand any taxes rolled into lease payment

23 payments of 111

These are all off the top of my head as the paperwork has not been mailed to me yet.

So how did i do?

Also if anyone is interested, the 10k mile price was 99.85. In addition, i could of leased a base LT without any packages for 75 with 10k miles but to me the extra 25 was worth it.

3 Likes

Where are you located?

I am located in Tennessee.

You did great! I just got one 3 days ago also and I am quite surprised. I got it as a 2nd car for the heck of it at this price but seem to be driving it more than my Acura TLX.

here’s how mine went if you would like to compare. I did not have a Volt.

MSRP: $26,255

		Discount Vehicle Price before incentives: $23,200 

		Direct Incentives: $6,585 ($500 bonus tag, $500 auto show cash ILLINOIS, $4085 lease cash, $1500   lease conquest)

		Residual: 62%

		24 months, 10K year.

		MF .00095 (raised from .00040 to waive acquisition fee)

		Doc Fee: $168

		Tags,Title, Lic$ 221

		Sales Tax 9.5%

		Total due at drive off: $1,047 and $47.60 month for 23 months.
3 Likes

I am really wondering how my numbers are so far off and more expensive for a cruze already (I see you had 1,500 more than I could get but even if I add the $62 to my payment it is still lower than the $128 I was offered for a cruze LT

what are your numbers?

Lease, your first task is to bring the selling price down (forget the rebates at this point and make sure the dealer knows your not interested in the price with rebates, you’re interested in the price without rebates). I usually go online, and email 5-6 dealers in my area. 2 or 3 of them begin to “wheel” & “Deal” and at that point I just polity and transparently pit them against each other, all from the comfort of my office chair. Finally after one dealer seems to be more ethical and has a low price, you give them a call to their manager and say "we are $XXX off from making a deal, give me that discount and I will leave a deposit now and come in and sign for it today. Works every time! As you can see I was able to score about $3K off the MSRP before any incentives. If I had a volt the chevy would have almost been free !

1 Like

Does it include leather seats? If not, does anyone know how much extra. thanks

They have half leather, half cloth seats, check out some pictures on the dealer sites.

I attached their sheet from ADP

Selling price was $19,408 (for Cruze LT with tech & convenience package)

Incentives are just lease cash and $1,000 for competitive owners.

http://imgur.com/ZTuFVlN

Goto Chevy.com and look for a Red Tag Vehicle under inventory in your zip. Instead of a price there will be a gold color Tag. Those are additional incentives you can use. and I have never seen a $699 doc fee, wow.

My other lease ends in August. Hoping to turn that in and get the Malibu since it’s the best bang for the buck. Do you think it’s worth it to get one now or will the prices drop as we approach summer?

I would wait until your lease is about to end. 6 months of payment will probably cancel out whatever you can save to lease now, even if the price does go up. Plus, there might be other deals available by then.

Yeah dealer fees here are crazy. Have not seen any with bonus tag in my area + 100 miles. Only one had the tag but came to $21k with it, so not much sense for me.

I just do not get how the lease calculation here and with my own calc is so far off from theirs

What dealer did you go to and which rep did you speak to as I’m also looking for one in the Chicago area.

Thanks

Let them know Simon sent you:

		Manny Reyes


		Sales & Leasing Consultant


		Castle Chevrolet  


		400 E Roosevelt Rd


		Villa Park, IL 60181


		C:773-677-5450


		O:630-279-5552


		F:630-279-2126


		mreyes@castleguy.com

I didn’t want to make another thread for the malibu so I thought Id ask here. I have been looking around the forum and was able to find the limited malibu LT residual and mf, but can’t find it for the LTZ. @michael can you please give me the mf and residual for the LTZ for 10k/24 and 12k/36. Thanks.

2016 Malibu Limited LT and LTZ have the same residuals, MF rates, and incentives.

Lease, I’m with ya! I can’t get anything close to the phenomenal rates here on Leasehackr. I can’t even break $150/month.

In this thread CAi3Driver gave me some advice which I’ve put to the test.

Great advice, and highly accurate. Even so, I’ll be damned if I can get across the finish line. As CAi3Driver stated, all they want to talk about is payments, to which I reply “I’m interested in the total cost of ownership.” (And then I try to hack away at the sales price, before applying incentives/discounts). Eventually though, they still come back to monthly payment. I have tried various ways to deal with this, stating that I’ve seen some great monthly payments with current dealer incentives. When pressed, I tell them I’d like something below $100/month on a 24 or 27 month lease, and that I understand leasing to be good way to lower monthly payments. Regardless, it’s just not happening for me. A salesman told me anything below $200/month for a $20K vehicle is a pipe dream.

Also, the whole idea of a security deposit meets with great resistance. They want a down payment, period. I get the feeling that leases aren’t well-understood by many salesmen. I get very different stories depending who I speak with, and which dealership I go to. I’ve negotiated hard and soft, but either way, no dice.

I actually found a Cruze with a bonus tag and final price of $16,500, and a Malibu for $18,900, after all incentives, which is in the ball park of what Senwia paid, but the payments were still 3X-4X what he got. This will drive me to drink…WTF?

Did you exclude (or add back) sales incentives? Lot’s of these dealers include incentives that most ppl won’t be able to combine, but of course the price they can advertise looks great.
Either way, I have heard the same when I tell them below $100 (+of course what is needed upfront). I got one to work with the selling price the way it was and the incentives that apply, but then for some reason I came to a higher monthly payment than I had calculated.

Once you get to replicate one of these deals it of course is great, but at regular pricing for me makes no sense in comparison to purchase.

Good luck I will keep trying a few more times.