Chevy Sonic Gets No (Leasing) Respect; Worst Value In Study

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Thread: Chevy Sonic Gets No (Leasing) Respect; Worst Value In Study

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    News Contributor Premium Member Perian's Avatar
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    Chevy Sonic Gets No (Leasing) Respect; Worst Value In Study

    carsdirect.com
    May 10, 2019



    The Worst Lease In May Is For A Car You Probably Didn't Expect

    Shopping for a lease isn't always easy when a low monthly payment can easily be outweighed by the amount due at signing. We analyzed over 300 leases ahead of Memorial Day and found that America's worst lease is actually one of the smallest and most unassuming cars on the market.

    With an MSRP of $20,295, the 2019 Sonic LT Hatchback is advertised on Chevy's website at $299 for 39 months with $3,069 due at signing. It comes with an allowance of 10,000 miles per year and equates to an effective cost of $378/month. That's $1 more than a $28,000 Honda CR-V, about the cost of a taco.
    Chevrolet National Lease Offers

    Ultra Low-Mileage Lease for Qualified Lessees.

    $299/month for 39 months.

    $3,069 due at signing (after all offers).

    Tax, title, license, and dealer fees extra. $0 security deposit.
    Mileage charge of $0.25 /mile over 32,500 miles at participating dealers.
    Expires 5-31-2019
    Example based on survey. Each dealer sets own price. Your payments may vary. Payments are for a 2019 CHEVROLET Sonic 5-door LT with an MSRP of $19,420. 39 monthly payments total $11,661. Option to purchase at lease end for an amount to be determined at lease signing. Lessor must approve lease. Take delivery by 05-31-2019. Lessee pays for maintenance, repair, excess wear and disposition fee of $395 or less at end of lease. Payments may be higher in some states. Not available with other offers. See dealer for details.











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    News Contributor Premium Member Perian's Avatar
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    Re: Chevy Sonic Gets No (Leasing) Respect; Worst Value In Study

    We analyzed over 300 leases ahead of Memorial Day and found that America's worst lease is actually one of the smallest and most unassuming cars on the market.
    I drove a 1.4L Sonic turbo with a manual transmission a few years ago - fun car I must say. However, it's painfully obvious that GM is not making a profit moving this vehicle, even with an almost $20,000 sticker.

    That is a shame.



    April Sales - Chevy Cars:
    Cruze 8100 -25%
    Impala 4600 -23%
    Malibu 11900 16%
    Sonic 1550 -21%
    Spark 2200 51%













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    Thats more expensive than some versions of the 3 Series.
    But it means smoking deals for used versions.

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    Re: Chevy Sonic Gets No (Leasing) Respect; Worst Value In Study

    Fuel economy is what is killing the Sonic, for the price of that penalty box on wheels, you can scoop up a full grown midsize sedan in the Altima/Accord/Fusion/Camry/Optima on a lease and get just as good FE, if not better.
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    Re: Chevy Sonic Gets No (Leasing) Respect; Worst Value In Study

    They seem to have same $299 whether there’s big MSRP deals or not. Not sure what that’s about (I’ve never leased a car).

    Having just seen the competition at the NYAS, IMO the Sonic is still competitive...even if it really needs an update. Only version I would buy is stick, rated a decent 38MPG hwy. Not sure why auto is so much lower. Of course more-expensive hybrids offer better MPG—where’s Voltec when you need it on Sonic Trax Encore?
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    Re: Chevy Sonic Gets No (Leasing) Respect; Worst Value In Study

    Quote Originally Posted by mbukukanyau View Post
    Thats more expensive than some versions of the 3 Series.
    But it means smoking deals for used versions.
    Last fall I thought about trading in my Sonic, I was offered a paltry $4500 from a dealer for a 2015 base Sonic stick with 35K in very good if not excellent condition. A better equipped auto would be worth more, but anyway I passed on the offer.

    I’m keeping the Sonic until we see if/when there’s an updated version. I would absolutely trade in for an updated version, I really like the car. If not, I’ll check out Honda/Hyundai/etc for my next car.

    As you say, there should be some very good used deals out there...
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    Next ride: Maybe a 2020 2.0T CT4, weekend car, keep the Sonic as DD

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    Re: Chevy Sonic Gets No (Leasing) Respect; Worst Value In Study

    Quote Originally Posted by dannyg View Post
    They seem to have same $299 whether there’s big MSRP deals or not. Not sure what that’s about (I’ve never leased a car).

    Having just seen the competition at the NYAS, IMO the Sonic is still competitive...even if it really needs an update. Only version I would buy is stick, rated a decent 38MPG hwy. Not sure why auto is so much lower. Of course more-expensive hybrids offer better MPG—where’s Voltec when you need it on Sonic Trax Encore?
    Problem is that they're not "more expensive hybrids" we're talking just the basic 4cyl powertrains of the midsize sedans...Hell the base Malibu gets just as good FE as the Sonic, something really isn't right there.
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    Re: Chevy Sonic Gets No (Leasing) Respect; Worst Value In Study

    I'm sure they just want to de-incentivize leases on a vehicle with poor residuals. We are going to see increasingly less attractive lease rates moving forward from many companies that have to tighten their belts once again.

    I would assume Sonic is on its way out anyway.

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    Re: Chevy Sonic Gets No (Leasing) Respect; Worst Value In Study

    Quote Originally Posted by BORG View Post
    I'm sure they just want to de-incentivize leases on a vehicle with poor residuals. We are going to see increasingly less attractive lease rates moving forward from many companies that have to tighten their belts once again.

    I would assume Sonic is on its way out anyway.
    The Sonic will soldier on until GM finds another vehicle to replace it on the assembly line alongside the Bolt. Gotta keep one full shift working somehow.
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    Re: Chevy Sonic Gets No (Leasing) Respect; Worst Value In Study

    Quote Originally Posted by Perian View Post
    I drove a 1.4L Sonic turbo with a manual transmission a few years ago - fun car I must say. However, it's painfully obvious that GM is not making a profit moving this vehicle, even with an almost $20,000 sticker.

    That is a shame.



    April Sales - Chevy Cars:
    Cruze 8100 -25%
    Impala 4600 -23%
    Malibu 11900 16%
    Sonic 1550 -21%
    Spark 2200 51%













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    Funny that you say that as GM has stated that they do make a profit on the Chevy Sonic so what is your source?.

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    Re: Chevy Sonic Gets No (Leasing) Respect; Worst Value In Study

    Quote Originally Posted by roadkillz View Post
    Funny that you say that as GM has stated that they do make a profit on the Chevy Sonic so what is your source?.
    I don't think there is a source, however, with such a high lease rate it is clear GM is not going out of its way to get people into a Sonic. I'd have to agree that GM isn't making money with a lower & competitive rate. If GM could make money at $199 or cheaper, they'd be pricing it as such.

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    Re: Chevy Sonic Gets No (Leasing) Respect; Worst Value In Study

    I'm leasing my Cadillac XT5 for essentially the same price in CAD$.

    Big issue for this and many other small cars is low residuals. Not many shoppers for 39 month old Sonics.

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    Re: Chevy Sonic Gets No (Leasing) Respect; Worst Value In Study

    Even it's a much older car, the Corsa, Opels counterpart to the Sonic, is still the best-seller in their portfolio. Seems Sonic is in the wrong market.


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    Re: Chevy Sonic Gets No (Leasing) Respect; Worst Value In Study

    Quote Originally Posted by BlackGTP View Post
    I don't think there is a source, however, with such a high lease rate it is clear GM is not going out of its way to get people into a Sonic. I'd have to agree that GM isn't making money with a lower & competitive rate. If GM could make money at $199 or cheaper, they'd be pricing it as such.
    I don't think that cars in that segment have high lease rates, also I don't think pushing Sonic sales are a huge priority at the moment so the meaning of this is going to come down to more then just they aren't making money on the Sonic.

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    Re: Chevy Sonic Gets No (Leasing) Respect; Worst Value In Study

    Quote Originally Posted by BlackGTP View Post
    I don't think there is a source, however, with such a high lease rate it is clear GM is not going out of its way to get people into a Sonic. I'd have to agree that GM isn't making money with a lower & competitive rate. If GM could make money at $199 or cheaper, they'd be pricing it as such.
    With AWD LS Trax offered to lease $169/mo at the Chevy site, my guess is they’re leasing very very few Sonics. Any way to find out sales vs lease for Sonic vs Trax?
    Current ride: 2015 Chevy Sonic 1.8L 5sp manual sedan
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