I’m admittedly a novice when it comes to leasing and car buying (I lived in NYC for 12 years so I didn’t need a car). Does this sound like a good deal on a new 2017 Chevy Malibu Premier? It comes with Driver Confidence 1 package. My dealer located one at a partner dealership and I put a $500 deposit on it.
Zero dollars down but a $1,900 fee which includes the first month. My salesman says it includes “sales tax, registration fee, bank fees, dealer fees, etc, but not local property tax.”
Price after incentives: $27,182
Residual Value: $18,526.75
Term: 36 months, 12k miles/yr
Monthly lease: $348
Would appreciate any feedback. Thank you in advance!
at first glance it seems very high
need more details:
sell price before incentives
driveoff of 1900 breakdown
Thank you Tony, just emailed my dealer for that information and will post here when I receive them.
Doesn’t meet 1% rule when you can easily get a sedan that does. Deposit is probably nonrefundable so you might be SOL
Yeah that was dumb of me to pay the security deposit before deciding on a lease payment. I got sucked into “You need to provide now or we could lose the car you want” since it was coming from another dealership. Rookie move on my part.
How did you provide the deposit?
Used a credit card for the deposit.
I’ve done similar things in the past and I was told that it was refundable. You just asked them to hold the car essentially, you didn’t sign a formal contract. You should still be able to negotiate. Just don’t leave without getting the deposit back if you can’t make a suitable deal. Flip the script.
Malibu premier hasn’t leased that great. You’d be better off looking at an Infiniti Q50
Essentially ~ $400 for a Malibu. Not a good deal at all.