- Feb 7, 2012
- 425
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I have never considered leasing a car in my life .... I usually buy a car used with 20-50k miles, drive it to +170k and move on... but not this time!
My wife was driving a Lexus IS350 we wanted to replace because of the miles, we did so with a 2016 Chevy Malibu we leased for $72/mo. 24 month lease, 15k miles a year.... no cost maintenance for the first year either.
MSRP - $24,660
I got the dealer to knock 8% off before incentives - $22,660
I was able to stack the following incentives
* GM Financial CCR - $2750
* Incremental Bonus cash - $575
* Bonus Tag Bonus Cash - $1000
* Volt owner loyalty cash - $2500
TOTAL - $6825 in incentives
Dealer hits it with $600 in an "acquisition fee"
New "net" total is $16,435
Residual after 24 mo / 30k miles is $15,042..... a difference from my net total of $1392. That number over 24 months + money factor + tax is $71.76
At signing I had to pay for tax on incentives I got (5.5% of $6825) + DMV fees + first months payment. So driving off I was in for ~$500.
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Two year cost of ownership is looking to be $2208. $1728 in payments + $420 in DMV fees / taxes + two oil changes in my 2nd year (assume $30/each)
My wife was driving a Lexus IS350 we wanted to replace because of the miles, we did so with a 2016 Chevy Malibu we leased for $72/mo. 24 month lease, 15k miles a year.... no cost maintenance for the first year either.
MSRP - $24,660
I got the dealer to knock 8% off before incentives - $22,660
I was able to stack the following incentives
* GM Financial CCR - $2750
* Incremental Bonus cash - $575
* Bonus Tag Bonus Cash - $1000
* Volt owner loyalty cash - $2500
TOTAL - $6825 in incentives
Dealer hits it with $600 in an "acquisition fee"
New "net" total is $16,435
Residual after 24 mo / 30k miles is $15,042..... a difference from my net total of $1392. That number over 24 months + money factor + tax is $71.76
At signing I had to pay for tax on incentives I got (5.5% of $6825) + DMV fees + first months payment. So driving off I was in for ~$500.
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Two year cost of ownership is looking to be $2208. $1728 in payments + $420 in DMV fees / taxes + two oil changes in my 2nd year (assume $30/each)