2008 Saturn Aura XE

[TaHoE]

Hello all those in the know,

My girlfriend is looking at a 2008 Saturn AURA XE. It is Red with a Sunroof and tan leather. The car costs roughly $25,500. They quoted her a lease with $5,000 down (her dad insists, don't ask, ) it would be $350 per month. Does this seem like a reasonable deal? This is a 2008 I would expect they could give her a better deal than this since the 09 Auras should be out. What do you all think? Thanks again for your help!

[Buick61]

Originally Posted by TaHoE

Hello all those in the know,

My girlfriend is looking at a 2008 Saturn AURA XE. It is Red with a Sunroof and tan leather. The car costs roughly $25,500. They quoted her a lease with $5,000 down (her dad insists, don't ask, ) it would be $350 per month. Does this seem like a reasonable deal? This is a 2008 I would expect they could give her a better deal than this since the 09 Auras should be out. What do you all think? Thanks again for your help!

I don't know too much in this area, but I do know this: the further along in the model year you are, the more expensive leases are. The residual values of the cars drop as you get closer to the next model year. Obviously it's because, 3 years from now, and '09 is worth more than an '08.

So, I don't know if that seems high, but an decontented (thanks GM) '09 may be cheaper.

[PsychoBueller]

Why on earth would anyone put $5,000 down on a lease? Her Dad is feeding her really bad advice. She would stand to lose the entire amount if something happened to the car, since she has no equity stake in it. Better to have a higher monthly payment, and put that money in an interest-bearing account and use it to make the monthlies. Give it to the bank and it's gone forever. Bad move IMO.

[HoosierRon]

I went to Chevrolet's web site and plugged in the numbers for a Malibu. A 48 month SmartLease comes to $305/month. You can buy it for $349 for 72 months.

[caddycruiser]

With $5000 down, she could be financing for a payment like that.

Another thing to remember is GM's lease rates went up across the board considerably as of August 1st, because of so much money lost on them in the past.

To really evaluate this deal, need to know what discounting the dealer is doing from sticker, what Saturn/GM cash is being applied, and also the terms of the lease. Otherwise, it's hard to tell from just the MSRP and a random payment.

[TaHoE]

Well we just got back from shopping and we are going to be leasing a Red '08 Chevy Malibu LTZ fully loaded for 450 per month. with zero down.

[caddycruiser]

Originally Posted by TaHoE

Well we just got back from shopping and we are going to be leasing a Red '08 Chevy Malibu LTZ fully loaded for 450 per month. with zero down.

Perfect, and 0 down

Don't know the terms, but from others I know with new Malibu leases and having checked into a few myself while car shopping, that seems like a spot on number.

And now she's probably grinning ear to ear! What a choice!

[PsychoBueller]

Originally Posted by TaHoE

Well we just got back from shopping and we are going to be leasing a Red '08 Chevy Malibu LTZ fully loaded for 450 per month. with zero down.

Very good move! Never tie up your cash on a lease.

We leased my Town & Country 2 days before Chrysler stopped leasing. Only 1st payment out of pocket, our payment is $421 on a 36 month, 15K lease. The van was $34,000 sticker and the dealer went deep on it. Also, the monthly includes a Maximum Care warranty which is bumer to bumper for the term of the lease. I am pretty happy with the deal.