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Chevrolet Cobalt: Lease Questions

15 messages,  Last post on May 13, 2010 at 3:14 AM

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What is this discussion about? Chevrolet Cobalt, Car Leasing, Sedan

    

Messages Page 2 of 3

#3 of 15 Re: Cobalt Lease [tgp1810] by Car_man HOST

Apr 20, 2006 (4:01 am)

Replying to: tgp1810 (Apr 09, 2006 5:31 pm)
Here you go, tgp1810. If you were to lease a 2006 Chevrolet Cobalt through GMAC right now for 36 months with 15,000 miles per year, its base lease rate and residual value should be 6.0% and 52%, respectively. The lease rate for a lease of this car with only 12,000 miles per year would be the same, but the residual value would be 3% higher.
 
Car_man
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#4 of 15 Re: Cobalt Lease [Car_man] by pookie45324

May 26, 2006 (6:17 am)

Replying to: Car_man (Apr 20, 2006 4:01 am)
I have leased a Chevy Cobalt a year ago July 1st. Previously, I had a Pontiac Sunbird and hated it a month after getting it. Had many recalls, electrical difficulties, etc. I traded it for the Cobalt with more than a year to go on the lease. I'm paying $293 with 4 years and 15,000 per year. Unfortunately, I was forced to accept a job driving 80 miles per day and now with only a year on the current lease, I have 24,000 miles. I have accepted a new job 12.8 miles away. My questions are: Can I recover the value? Should I keep it to the end of the lease? Is there a good way to get out of this situation? Am I paying too much because of the early lease termination on the Pontiac?
 
I'm 60 years old and will be retiring at 66. How should I handle my car situation?

#5 of 15 Questions on leasing cobalt by asa805

May 29, 2006 (9:53 am)

I am in the market to lease a new car. Im looking at the Chevy Cobalt and the Nissan Sentra. I have a couple questions first on leasing. I was told today by the dealer that the residual price is based off the MSRP. I thought it was based off the negotiation price (cap cost). Who is right?
 
 He gave me .55 residual & 6% money factor apr. With an 800 rebate and MSRP at 14,500 (approx) and 13,750 for selling price (100 above invoice). He said the lowest payments he could give me with no money down (cept first payment and DMV fees of about 50 bucks) for 36 month lease (12k miles) is $241. I think thats a bit high. I ran it through some calculators and im getting a much lower price of between 190-205. Is the calculators way off or is this guy giving me bull?
 
oh this is for a LS with automatic and door locks/remote keyless entry.
 
Thanks
Stressed out in NY!

#6 of 15 Re: Cobalt Lease [pookie45324] by Car_man HOST

Jun 11, 2006 (6:48 am)

Replying to: pookie45324 (May 26, 2006 6:17 am)
Hi pookie45324. I am sorry to say that it is very expensive to get out of leases well before their scheduled end dates. You probably will be better off waiting until the scheduled end of your lease to get something new. The only way that you will be able to avoid paying an excess mileage charge at lease-end is to purchase your Cobalt.
 
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#7 of 15 Re: Questions on leasing cobalt [asa805] by Car_man HOST

Jun 11, 2006 (7:07 am)

Replying to: asa805 (May 29, 2006 9:53 am)
Greetings asa805. Yes, vehicle's residual values are based upon a percentage of their full MSRPs, including the destination charge. This is a good thing. The higher a vehicle's residual value is, the lower its monthly payment will be. If your vehicle's residual was based upon a percentage of its negotiated selling price, it would cause you to pay for more depreciation and your monthly payment would be higher. The 6% lease rate that you were quoted is right in line with GMAC's base lease rate for this car. This is a good thing because it means your dealer is being straightforward with you. $100 over dealer invoice is a great selling price, as long as it is before the deduction of the $800 lease cash. Let's work up a lease payment on this car to compare to the one this dealer quoted. According to my calculations, if you were to lease a 2006 Chevrolet Cobalt LS with an MSRP of $14,500 and a selling price of $13,750 through GMAC right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $215. As I mentioned though, this is before tax and does not include GMAC's $595 acquisition fee. You will either have to pay this fee at lease signing or roll it into your car's capitalized cost. Adding it to the cap cost of the aforementioned lease would increase the monthly payment to around $233. Once tax is added in, this car's payment is probably pretty close to the one that you were quoted.
 
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#8 of 15 My new Cobalt by debbiel

Jun 25, 2006 (5:15 pm)

I thought I would share my experience. I have had my Cobalt 4 days now, and so far I love it. This is my first experience with a new car, the first time I have had a cr in my name, (I am 53!), and my first experience with leasing. Phew! A lot of firsts!! I got the basic LS sedan, with a 5 speed through the "sign & drive" deal. I have a 39 month lease, 15,000 miles for $216.00 a month. i paid the tax upfront. I am pleased with the payment and should be able to swing it easily. I am hoping I like the lease program. I certainly am enjoying driving a car that has less than 100,000 miles on it, no rust,and air that works!!

#9 of 15 Re: My new Cobalt [debbiel] by Car_man HOST

Jul 02, 2006 (9:49 am)

Replying to: debbiel (Jun 25, 2006 5:15 pm)
Congratulations on your first new car, debbiel! The Cobalt is an excellent vehicle for $216 a month sign and drive. Enjoy .
 
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#10 of 15 Re: Chevrolet Cobalt: Lease Questions [Car_man] by webbe

Sep 13, 2007 (10:49 am)

Replying to: Car_man (Aug 31, 2005 3:26 am)
Hello,
New hear and have some questions. I am considering buying a 2007 Cobalt but I am interested in a lease option also. I would like to know how to go about getting some lease figures. I was told by one of the Chevy dealers that
he believed they would soon (this week) be starting new lease offer on a Cobalt. Don't want to contact that dealer again at least yet-how can I find out if there is one? I read where the bank's and other places do car leases also, are these any good? Just want to know how to go about getting the figures on one. Did check the chevy website and saw nothing about it.
 
Webbee

#11 of 15 Re: Chevrolet Cobalt: Lease Questions [webbe] by poncho167

Sep 14, 2007 (6:23 am)

Replying to: webbe (Sep 13, 2007 10:49 am)
I saw something about leases on the chevy.com website when I was looking for Cobalt rebate info. I not sure it was specific. Just remember that you want to make an offer for the car lower than the MSRP, that will help lower the lease amount that you pay.

#12 of 15 Nearing the end of the Smart Buy Contract by fourdoors

Apr 07, 2009 (8:49 am)

I was wondering if anybody knew what the credit requirements are like at the end of the Smart Buy lease when the balloon payment is due. Would I have to excellent credit to refinance the balloon payment? Is returning the vehicle a tough task? Thanks.

Messages Page 2 of 3

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