Thoughts on this Malibu 1LT lease deal please

Not going to bore you too much with my offer of selling price, etc., but it was 10% off MSRP, plus 1500 rebates, minus dealer fee. It was pretty close to this counter from Chevy (maybe 4 bucks lower than this per month). Thoughts before pulling trigger?

MSRP - $28,185 (leather/tech/bose)

$1200 down, 12K/36mo. $259/month
First payment $259, Tax $561.60, tag $200 and fees $178.40

Thanks guys

It looks like they’re only giving you $1000 off MSRP? Nowhere close to your 10% offer, which would have brought it down to $208.

Plug this in to the lease calculator and it comes to your quoted $259/mo:

MSRP: 28185
Sales Price: 27185
4% off MSRP
Taxed Incentives : 1510
Untaxed Incentives : 0
Down Payment: 1200
Post-Sale Rebate : 0
Acquisition Fee: 595
Miles/yr: 12,000
Residual: 58 %
Months: 36
Money Factor: .00040
APR: 0.96%

If you were to do zero down and get them to take 15% off, you’d be at $202. Or zero down and 10% off would put you at $241.

Maybe i’m doing something wrong with the calculator.

This is how i’m getting there.

-$2818 (10%)

= $25,367

  • $1510 - Rebate

$23,857 + tax & tag

.00040 & 58%

When i run that through the lease calculator i’m getting $256/month.

Are you factoring in tax too ?

Only thing that seems wrong is that i’m paying too much tax in the down payment. Calculator saying $106, his offer is saying like $556

I don’t see your down payment in there and either way I have no clue how you’re getting to $256.

No, I didn’t include tax because it depends on how your state taxes leases. From your first post, I assumed you are in one of the states where the total cost of the lease is taxed upfront.

The leasehackr calculator uses 9% tax by default and there are options to calculate based on how it’s done in your state.

Think i found the issue, he’s adding tax on back end, when my offer of $260 had it included. Calculator below shows this.

Monthly Payment (Excl. Tax): $245
Monthly Payment (incl. tax): $260

This is what is making up my down payment of $1200. “First payment $259, Tax $561.60, tag $200 and fees $178.40” That equals $1200.

Ahh. Ok that is not a down payment. That is your drive-off amount.


Can you look it over again and offer your thoughts knowing this now ?

I think it looks pretty solid, but would definitely ask around to other dealers to see if they can do better. You might find a dealer willing to give more of a discount since it’s the end of the month.

I got the quickest responses by calling dealerships, telling the salesperson what I wanted to know, and asked them to email me their quote.

MF, residual, and lease cash are good through Monday.

Perfect, will do. Thanks so much for the help.

What state is this deal in?

Deal is in Florida …

Deal closed, just got home. Thx for all of the help.

$28,185 - MSRP

$238/month plus tax, tag, fees.

Got a better deal on 1st of the month than the 31st.

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btw, the end of the selling month for July was actually yesterday, so 1 Aug was technically the last selling day in July. Manufacturers never end a selling month on a weekend. Probably explains why you got a better deal!