GM Inside News Forum banner

Ed's New Car Lease; 2017 Kinetic Blue Cruze RS

7K views 76 replies 25 participants last post by  tripowergto Jan2003 
#1 · (Edited)
After a lengthy exchange, (Tues, Weds, Thurs, Fri) I brought it home today, Brand-Spanking-NEW; with a whopping 30 miles on the odometer.

Guess the recent interest initially started with the Cruze Hatch, and all it's claimed rear cargo room, (if you find it let me know) anyway lets just say I was disappointed in the Hatchback, no bigger than our Volt, a little more room-height-wise, but way shorter than the sedan. It seems like a foot, but per the specification sheet, 8.5".

Then a couple weeks back Caveman in his never-ending new-car search mentioned the Cruze.

Last Sunday, killing some time before my daughters Birthday Party, I'm reading some of the car ads, $47, $69, $79 with varying amounts down; from ZERO - $999, so I say, OK what is this all about? :confused:

Base LT's (what all the cars in the ads are for) not much to write home about, but with the Convenience Package you get keyless, remote start and heated power seats, many which are critical must-haves for me, add in the RS Package, which gives it a little jazz; larger front grille (and RS badge), fog lamps, body-kit (rockers) and rear spoiler. Now passes as acceptable, in the looks and content categories.

Now for the "deals" to be real, you've got to find one with those packages, which add about $35 to the entry price of the adverts, but you also need to find one that is out-of-favor with the "Bonus Tag".

After going back-and-forth with the dealer for the better part of 4 days, (1st she didn't know anything about the $750 GM Card top-up, then the one we were looking at, didn't have the tag). Once we got those things cleared up, we came to a $121/month No, No, No........... Sign..... Drive. OK, great now what!? I need 4 cars like a hole in the head!

The original plan for today was just to measure it up against the Volt and have the wife take it for a spin, and get them to firm-up the price.

So sales gal suggest they take a look at the Volt; still have 7 payments of $179.5 ($1,256.50). Buyout price of the lease is $21K and change, used cars said $12K; yeah that isn't gonna work.

After a bit of back-and-forth, we basically split the remaining payments, I put $600 into the deal up-front, they'll payout the Volt and keep make the lease payment an even $120/month.

Seemed like a fair place to meet, on the plus side for me, the $600 down replaces this month's $179.50 payment ($420.50 more than normal) but then the next 6 payments, I'll only be paying $120/month, instead of $179.50 (a total of $357 less than normal) which washes-out all but $63 of the up-front money-down. :yup:

The incentives/discount were insane: $1,770 Employee, $500 Base Rebate, $500 Bonus Tag, $2,000 Chevy Lease Loyalty, $1,225 Cap Cost Reduction, $750 GM Card Top-up (I had $756.56) = $6,751.56 - Plus however you value the Volt payoff/buyout funds.

It was dark by the time I got out of the Dealer, but this was a picture I took when I brought it home, to compare.

 
See less See more
1
#2 ·
What no Ford focus was available hahaha j/k. We test drove a hatch earlier in the week. Still trying to decide. Nice color good choice.
 
#3 · (Edited)
You know most of guys that dog me for being a Ford fanboi drive Toyota's, Nissan's, Fiat's or 20 year-old Oldsmobile's right?

I was actually eyeing the new Civic, but the wouldn't do anything with Volt lease, so that would have had to wait until at least June or July, and the EX-T I wanted was ~$300/month I can't justify that for a 3rd car, Focus was North of $200 and again, no help with the Volt buyout.

I'm not sure this Cruze is going to be worth 65% of MSRP in 2 years, especially when I could have bought it for about 67% of MSRP yesterday; but that's not my problem, it's GMF's.


Sent from AutoGuide.com Free App
 
#10 · (Edited)
Thanks, yeah I think I did alright! :001_rolleyes:

Wife was initially OK, with the 4-car overlap, but then when things started getting serious, she was starting to freak. I actually was trying to do the math; basically the $750 GM Card Money, a big reason I was considering doing something now, would get eaten-up in the "waste" of the fourth car, insurance/payments. Greasing the Volt's exit, made all that mute.

Volt made it almost 3 years; we got it in May 2014 with 3,500 miles (only 500 EV) turned it in with ~25,500 and ~19,000 EV.


I need to bring you with me when I lease my next truck. :p

Congrats on the new whip, playa.
That is what my dad & buddies always say; speaking of buddy at work, his Silverado is due soon, and he is already over on miles. :zippy:


Nice lookin' Cruze, brotha man.
Too bad ya got the slow one... :p:
Yeah, and you got the stinky-one...... ;)


Congrats and the new Cruze.

That is the same one I would buy.

Keep us updated on the MPG/driving cost difference between the Volt and Cruze.
My electric bill better go down at least $40! :bio::
 
#5 ·
I need to bring you with me when I lease my next truck. :p

Congrats on the new whip, playa.
 
  • Like
Reactions: Ed753
#28 ·
I need to bring you with me when I lease my next truck. :p
*Looks at watch* Which should be Tuesday about 5 o'clock? :lmao:

Many states if you have been a farm bureau member for 30 days, would have been another $500 off.
Around my area, FB advertises a $500 discount....on a Ford. :eek:

We don't have Farm Bureau, but past experience, most of the "affiliate rebates" don't coordinate with most other rebates.
Just another reminder to read the fine print.
 
#11 ·
Farm Bureau isn't stackable though. I remember when they offered the USAA discount I had to pick one or the other.
 
  • Like
Reactions: Ed753
#14 ·
Nice lookin caah there, podnah. I like that blue. I've recently been eyeballing an Optima EX in that same hue.
 
#15 ·
The incentives/discount were insane: $1,770 Employee, $500 Base Rebate, $500 Bonus Tag, $2,000 Chevy Lease Loyalty, $1,225 Cap Cost Reduction, $750 GM Card Top-up (I had $756.56) = $6,751.56 - Plus however you value the Volt payoff/buyout funds.
I think that's about $4500 more than I qualify for, congrats!

Classic Ford fanboy move...leasing a Chevy. ;) ;) ;)
 
#34 ·
I get the Gen I thing, it had it's own unique character which really grew on me too, the new one is "one of the boyz", I find it almost unacceptable without the RS Appearance package.

We took it to the cabin and back today, the tires don't look impressive at all, but I am impressed with its overall ride quality; smooth, quite, handling & stability, overall far better than the Volt was, you should take one for an extended test-drive.


Congrats! The look of the gen 2 cruze is really growing on me, pretty sharp looking cars.
Thanks!
 
#40 ·
Nice work, Ed. My Challenger lease is through Ally, or Axis as I like to call them. They're a bunch of Richards and I'm glad you put it to them.
 
#44 · (Edited)
Nice work, Ed. My Challenger lease is through Ally, or Axis as I like to call them. They're a bunch of Richards and I'm glad you put it to them.
Not really necessarily so.

The beyond ridiculous assumption is that the Trade In Value of 12K was a maxed out / 'fair market' 'trade in offer'.

Notice, no mention of moving from say as a typical example, from a 7k appraisal to 12k.

Whacking a trade like this one back by 5 / 10 k to start ain't no big thing......

In otherwords, that 12k was / is likely at least somewhat light - or a whole bunch more.

It is also not known just exactly how much the Lessor ( Ally ) was subsidized by GM @ Lease inception.

And no, it's not an automatic that they pass all of that on to the Leasee - far from it.

Also, Fee Income / Fee Income net of certain Costs must be considered....



And then......well.... there is another, highly significant 'Back End' behind the Back End to all this that would have to be assessed for full completeness.

Ally likely is not suffering anywhere near what has been suggested here - if @ all in fact...... although they may be below nominal 'expectation'.

Which even if true does not preclude being or likely being still within the expected Risk Adjusted Pricing 'provided' Range of Values and 'Performance' .

You need all the Internal numbers from Ally to really even estimate very well short of full disposal of the Leased Vehicle.

Makes the story read better for the usual Perception Agenda though.....

But I do appreciate your Thought & Sentiment.
 
#42 ·
MSRP was ~$36,000 the tax credit was $7,500, total lease; payments & money down was about $7,300 current wholesale value ~$12,000.

I don't know if the tax credit comes off the front of the deal (Cap Cost Reduction) , or the back of the deal (propping-up the residual), but I know it doesn't come off of both ends of the deal.........

$36,000 - $7,500 - $7,300 - $12,000 = $9,200 (excess depreciation) which was split between whatever GM discounted it, and whatever Ally had for breakfast this morning.
 
#43 ·
CONGRATS on the new wheels, Ed.

We also joined the Kinetic Blue Crew on NYE, but stayed with the Volt.

Here's my deal as posted elsewhere:

After much research and serious legwork I FINALLY secured an acceptable lease arrangement in PA for 39mos, 12k miles/yr and absolute zero down on a $35,795 MSRP 2017 Volt. Negotiated to $280/mo on a bonus tag vehicle($500) with $500 lease loyalty and $4610 GM Financial lease cash(tax credit). After using $1145. in GM Card Earnings our payments are $247.28 for 38mos(dealer made first payment for absolute zero down) Residual value buy-out cost is $17181.60.

We're quite pleased with this arrangement and brought the car home on NYE. It will be our daughter's first new car. She recently graduated from college and has typical college debt thus absolute bottom dollar pricing was imperative. She can charge her Volt overnight at no cost at her apartment complex thus we felt it was worth the added cost of a Volt over a Cruze.

 
#56 ·
Viva la Hyundaiiiiiiii!!!! :drive:

I could have bought it, but in doing the math........... why?

$120.78/months gets you a $7,000 loan (at 1.99% for 60 months) ~ Why drive a $7,000 car that would offer less, and certainly have additional costs in maintenance & repairs, when I can drive a brand-new fuel efficient $24K car?

What do you drive again?
Probably Schwinn. Or Colombia. Or whatever the Walrus World brand is these days. :fall:
 
  • Like
Reactions: Ed753
#50 ·
It should be noted that GM Financial leases only share $4610 of the tax credit in non-CARB states and $6610 in CARB states on 2017 Volts. Ally and US Bank are taking a beating on old lease returns having shared the entire $7500.

I might buy out my 2014 lease as US Bank is aggressively discounting it.
 
  • Like
Reactions: Ed753
#51 ·
And then......well.... there is another, highly significant 'Back End' behind the Back End to all this that would have to be assessed for full completeness.

Ally likely is not suffering anywhere near what has been suggested here - if @ all in fact...... although they may be below nominal 'expectation'.

Which even if true does not preclude being or likely being still within the expected Risk Adjusted Pricing 'provided' Range of Values and 'Performance' .

You need all the Internal numbers from Ally to really even estimate very well short of full disposal of the Leased Vehicle.

Makes the story read better for the usual Perception Agenda though.....

But I do appreciate your Thought & Sentiment.
And you will Substitute your own numbers!

Front end, Back end, it doesn't matter. a $36000, GM Car ($9000 over priced to begin with), -$7500 Tax Credit, is $28500. $7500 in payments (Interest and depreciation) Leaves $21000 owing on a $12000 W.S. $16000 Retail Vehicle.

Where does the "Back End Car Fairy" come into play? Where doe Ally make any Interest holding $36000 payed to GM 3 years ago?
 
#55 ·
I can only say this regarding Ally, or as I call them "Axis," that after the de-leasing procedure which is almost complete now, I cannot recall dealing with a corporation more screwed up. They rival the IRS, certain military units I've been acquainted with over the years, the state taxing authority in Columbus, and the hundreds of utter morons, idiots, and imbeciles I've had to deal with over the decades.

How in Lord's name Axis stays in business is either a bidness miracle, or they're bribing someone (more likely by far).
 
#53 ·
I could have bought it, but in doing the math........... why?

$120.78/months gets you a $7,000 loan (at 1.99% for 60 months) ~ Why drive a $7,000 car that would offer less, and certainly have additional costs in maintenance & repairs, when I can drive a brand-new fuel efficient $24K car?

What do you drive again?
 
#57 · (Edited)
You car RENTERS and your fuzzy math....................

I guess You FORGOT about the down payment of some sort , the fees, acquisition fee
turn in fee, etc, etc.
Then you renters are posting and whining 2 years down the road you had to pay over
mileage fees, buy new tires, and pay body shop and prep frees to repair damage.
But most of you forget to mention those.................

2017 Chevrolet Cruze LT Stock#: B17100219 MSRP: $22,325 Model code: 1BT69 All Lease options and Special APR offers are with approved credit through GM Financial. Security deposit waived for qualified buyers. $1999 down plus 1st pmt taxes and fees due at signing Acquisition fee of $595 included in cap cost. 10K allowable miles per year. $0.25 p/mile penalty for overage.Lessee responsible for excess wear and tear, and maintenance. $395 disposition fee. Lease offers include $2000 competitive lease cash. Excludes prior sales. 0 down lease includes 8% taxes and fees
 
#59 ·
That is "somewhat" rational talk, but unless you drive your cars into the ground, 10-15 years, you too have to pay, either in repairs or sale price if you've got excessive miles and wear, no?

When you buy a car, you still have to pay when the tire wear out, right? Brakes?

I haven't bought tires in over 20 years, 3 brake jobs, all of which I owned and kept a little longer than my typical lease.

Oh, and FWIW; My Cruze was $24,825 - I paid $600 at delivery - $120.78 was the first payment (or $179.50 was the Volt payment I didn't make a week later) the other ~$400 was down-money.


All things considered I've done very-well on all of my leases; it is not a cut-and-dry choice, I hope I helped you understand that. :yup:

I had a co-worker that bought a new truck about the same time I did, I did my normal frequent refreshes, he drove his into the ground, it was within 1 or 2 thousand of spending what I did.

I had more "depreciation" payments, but he had way more "repair" payments.
 
#60 ·
Yes. Understand we can. :fall:
 
#63 ·
Hi Ed, congrats on the new Cruze. I'm currently in a GMC Canyon lease with GM Financial (2015, 48 months; 24 months left). I'm considering getting out of it for a 2017 Cruze Premier RS in Kinetic Blue Metallic. Torn between the sedan and hatch; logic dictates I'll need a bigger trunk so go with the sedan but I don't want to regret not getting the hatchback. Can you share your insights on both the sedan and the hatchback? The sedan is what got me interested in the Cruze, thought the versatility of the hatch caught my interest.
 
#64 ·
I recommend you check both out side-by-side, I love hatches, but I don't get the design of the Cruze Hatch, you gain a bit of height, but lose 8" in length, which aesthetically makes the car look like the back-end was chopped off. The trunk on the Sedan balance out the look, and provides very good size, trunk space. IMHO the 15 cu. ft. of the sedan is better than the 22 cu. ft. of the hatch, unless you are hauling 3' tall tomato plants.

If you plan on always having rear seats down, and only front-seat passengers, maybe, but the look is still unbalanced.

Completely satisfied, more pleased than I expected, the only thing(s) I miss (from the Volt it replaced) is auto-dim rear-view mirror, express-up windows and back-ups sensors.
(it has a camera, but not the sensors, this is the first car in 10 years that doesn't have those, takes a little getting use to)

---------------------

A couple other things of note, now that I am one month in:

Fuel Economy; The car is rated at 30/40-34 - If I drive my normal city/suburb mix, I get mid to high 20's; which is perplexing (and disappointing) since it is rated at 30 city; I'm hoping that goes up as it breaks in, weather breaks and winter-blend fuel ends. Now on the other end of the spectrum, a recent highway trip I easily got 45, which is significantly higher than the rating, odd.

Also had an "experience" with the Start/Stop, or should I say; Start/Stop/Stall as in, apparently as I approached an intersection, with a car coming the other way, I kind of slowed/stopped in an irregular way, the car just cut off, but since it wasn't a normal "stall" the car just sat there, no dash warnings, nothing! :eek: And of course wouldn't re-start until I put it into park, might have been a little un-nerving had it happened on a busy road.
 
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top