[BumbleBee]

Hey Everyone,

As you know GM announced that it was getting out of the Leasing business here in Canada. My wife and I have been putting off getting a new car until the 95 Saturn died on us, but when GM announced that it was getting out of the leasing business we thought we would buy now.

So we were doing our homework last night and were pricing out the Chevy Malibu LTZ 4 cylinder vs the Honda Accord EX-L 4 cylinder. Both were similarly equipped with very little to choose between the two. To my surprise the Monthly payment, including everything for the two was:

Malibu LTZ 4 cylinder: $526 per month (Canadian)
Accord EX-L 4 cylinder: $507 per month (Canadian)

Even when I applied the GM Car Heaven Rebate the payment was still higher at $511 per month (Canadian).

My wife and I were both shocked. How can the Malibu LTZ 4 cylinder be that much more expensive than a Honda Accord?

Since we know someone at a Honda dealership and my wife prefers the Honda, I was hoping that the lower monthly payments from Chevy would help me win the argument and we would get the Malibu. As I saw last night, I'm surprised and don't have much of an argument.

Any thoughts???

 

[BGH]

I supposed because the Honda has the higher residual value that its lease would be cheaper. Even if GM subsidizes its lease rates Honda residuals are just so much better than almost any other car brand out there.

I don't know what kind of deal you got on the two from your dealers. But if your going to go after the Accord you may want to wait.

 

[BumbleBee]

BGH, why do you say:

"But if your going to go after the Accord you may want to wait."

Why do you think that? Any info on this?

 

[fp115]

Odd. I wonder what else the dealer is doing that he should. I just priced one out, fully loaded and it comes up to $480 a month for 48 months with Car Heaven coming up to $1000. You also get a 20 cent 2500L gas card. You may qualify for additional rebates as well.

How many months were you going to lease for and at what rate? I tried it with 2.9% and 48 months.

 

[smokyn454]

How is it that much more expensive? Even at $526 vs. $507, that is less than $1000 over 4 years of leasing. I bet the MSRP differs more than that. Add is some residual value for the Honda ( because everyone knows they are better anyways ) and there is your difference.

 

[HoosierRon]

My wife and I were both shocked. How can the Malibu LTZ 4 cylinder be that much more expensive than a Honda Accord?

$511 vs. $507. That would be 0.7% more expensive. Shocking.

By the way, the Malibu gets better mileage, and isn't butt ugly. Rather than pretending that you have a "say" in the matter, just tell your wife to buy whatever car she wants, and every time she spends $4 on something that is not necessary, express your shock at her.

 

[BumbleBee]

Hi fp115

I have not gone to any dealers yet, the pricing I got is off of the two comapnies websites. I've not factored in the gas cards from either company as Honda offers $1000 gas card as well.

The lease reate for the Malibu was 2.1% and the rate for the Accord was 3.9% since it was the EX-L.

Does the $480 you have include taxes?

Thanks.

 

[PMC the 1st]

Yet another man enslaved by his wife.
There's no doubt the dog in the family 'yaps' rather than 'barks', all physical activity such as the lifting of weights is prohibited with exception to walking the aforementioned dog according to a rigorous dog-walking schedule (which cannot conflict with the wife's work schedule), and the consumption of food must be done in a restaurant at least once a week and at a specific restaurant at a particular locale.
Slavery of this type has gotta suck!

 

[steelerfan n GA]

I'm surprised and don't have much of an argument.

Any thoughts???

The price is about the same. Why don't you tell your wife that you prefer American cars? And since you live in America...

EDIT: Sorry you may not live in America, but you are our neighbor!!

 

[BGH]

BGH, why do you say:

"But if your going to go after the Accord you may want to wait."

Why do you think that? Any info on this?

Accord is pretty hot right now. And i know Honda dealers have no problem going to invoice or below if sales are a little slow. They also have no problem adding markup on any car when sales are hot. I don't think the Accord has those but I bet the civic does.

Also with Toyota recently dropping their prices in Canada a second time, Honda will probably follow. Add to this that the Accord may actually get some changes for the next model year (V6 power is going up in the sedan) and they'll want to get rid of the 08s.

This is my experience in the GTA, I'm sure other parts of the country are different. In my old city the Honda dealer prices were MSRP and largely non negotiable.

But since you haven't talked to your wife's friend yet. Everything that I said could be useless. Maybe he/she will give you below invoice right away.

 

[psece]

Yet another man enslaved by his wife.
There's no doubt the dog in the family 'yaps' rather than 'barks', all physical activity such as the lifting of weights is prohibited with exception to walking the aforementioned dog according to a rigorous dog-walking schedule (which cannot conflict with the wife's work schedule), and the consumption of food must be done in a restaurant at least once a week and at a specific restaurant at a particular locale.
Slavery of this type has gotta suck!

What kind of car does your wife drive?

 

[fp115]

I suggest you see a dealer or even call one to see what other rebates you qualify for. I have found that websites are usually tricky and prices can vary by about $50 and sometimes more.

The price I saw I don't think had taxes (I don't remember), but did include destination charges. But really the best thing you can do is see a dealer. As you already know the Honda dealer, there may be no need to go in to see him, but go see a Chevy Salesman and see what he can offer you. If it isn't a price you like, mention some of your findings and see what he can do for you, but I suggest you say you would rather the Malibu over the Accord.

Also when comparing rates, keep in mind the amount of months. Just to compare I had a look at Honda's site and an EX-L with no options I managed to price it out to $530 a month at 4.9% and a $800 payment on delivery.

*EDIT*
I just called a dealer and he said he has a Malibu with the 4 cylinder. SmartLease is running at $450 before taxes and an MSRP of $33,010. He said depending on the area you may qualify for additional rebates.

 

[eurohazard]

What kind of car does your wife drive?

LOL

:lmao:

 

[CanadianGMGuy]

Bumblebee where abouts in ontario are u?

You should give member K_Dawg_one a email or PM because he is a sales guy in windsor ontario, and he just got me into my new truck. He is a great guy to work with and will dig to get you all the rebates you are eligible for. I met him on this website, and drove 250 KM to his dealership to get the deal done.

If you want his email just give me a pm, or look up his username.

 

[AMERICA 123]

How is it that much more expensive? Even at $526 vs. $507, that is less than $1000 over 4 years of leasing. I bet the MSRP differs more than that. Add is some residual value for the Honda ( because everyone knows they are better anyways ) and there is your difference.

Well, maybe , maybe not.

The current Honda incentive programs here in the US do include the 4 cylinder Accords - and the Odyssey just as much as the Ridgeline etc - and the new Pilot - which appears to be literally piling up on Dealer lots - along with 4 cylinder Accords.

Late add - actually, its more than that.

Last weeks national offers only (USA )

National Offers
Accord Coupe
2008 Accord Coupes (4-cyl & V6) and Sedan (4-cyl) Special AHFC A.P.R. Financing
1.9% APR for 24-36 months or 3.9% APR for 37-60 months
For well-qualified buyers..........


Special AHFC A.P.R. financing available on all new 2008 Accord Coupes (4-cyl & V6) and Sedan (4-cyl) models. 1.9% APR financing for 24-36 months or 3.9% APR financing for 37-60 months available to customers who qualify for the AHFC Super Preferred credit tier.......

Offer valid for 7/25/2008 through 9/2/2008, on new and unregistered 2008 Accord Coupes (4-cyl & V6) and Sedan (4-cyl) ........


Accord Coupe
2008 Accord Special AHFC A.P.R. Financing
1.9% APR for 24-36 months or 3.9% APR for 37-60 months
For well-qualified buyers...........

Here is the biggie tho.

Special AHFC A.P.R. financing available on all new 2008 Accord models. 1.9% APR financing for 24-36 months or 3.9% APR financing for 37-60 months available to customers who qualify for the AHFC Super Preferred credit tier.

Example for a 2008 Accord: 1.9% for 36 months financing at $28.60 a month for every $1,000.00 financed. Dealers set actual vehicle sales prices. See participating dealers for details.

For well qualified buyers. Not all buyers may qualify. Higher rates apply for buyers with lower credit ratings.

Offer valid for 7/8/2008 through 9/2/2008, on new and unregistered 2008 Accord Models and only on approved credit by Honda Financial Services through participating dealers.

Honda Financial Services' standard credit criteria apply. Example for a 2008 Accord: 1.9% for 36 months financing at $28.60 a month for every $1,000.00 financed. See dealer for details. Dealers set actual prices. Limited time only.

2008 Accord Coupe LX-S Featured Special Lease
$249.00 per month for 36 months. $2,699.00 total due at signing.
Includes down payment with no security deposit. Excludes taxes, titles and fees. For well-qualified buyers.

FEATURED SPECIAL LEASE: Closed-end lease for 2008 Accord Coupe LX Sport Automatic Transmission (Model CS1238EW) for $249.00 per month for 36 months with a $1,855.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier........

Subject to limited availability. 07/08/2008 through 09/02/2008, to approved lessees by American Honda Finance Corp. Closed end lease for 2008 Accord Coupe LX Sport Automatic Transmission vehicles (Model CS1238EW), for well qualified lessees......... Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $23,330.00 (includes destination) less the capitalized cost reduction resulting in actual net capitalized cost $20,030.42. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $8,964.00. Option to purchase at lease end $13,298.10. Lessee responsible for maintenance, excessive wear/tear and 15 cents/mi. over 12,000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20 cents/mi. over 12,000 miles/year. See dealer for complete details.


Accord Coupe
2008 Accord Coupe LX-S Featured Special Lease
$249.00 per month for 36 months. $2,699.00 total due at signing.
Includes down payment with no security deposit. Excludes taxes, titles and fees. For well-qualified buyers...............

Obviously, at this point, in the states anyway, the Accord or large numbers of possible configurations are becoming distressed sale merchandise - the Chevrolet Malibu is not - especially a 4 banger LTZ with the 6 speed AT.

Probably as much or more about incentives from Honda than anything else.

 

[BumbleBee]

Guys,

I think that you are missing my point the $4 dollar difference is not shocking nor unbearable financially. What is shocking is that the value proposition of GM is not what I expected. I expected them to be around $50 cheaper than the Accord much in the same way a similarly equipped Hyundai Sonata is $60 cheaper than both. If GM wants to get customers in their door and buy their products, at present time they shouldn't be at a premium to the Honda Accord. I know the Malibu is a great car but it does not have the same cache as the Honda Accord. Again, not from my perspective but people cross shopping the vehicle.

As for the comments regarding just doing what my wife wants and she has control over me or enslaved me I think you guys are off base. My wife and I make decisions together and all that I stated is that her preference from a looks perspective, interior perspective is the Honda Accord. Myself I prefer the looks of the Malibu but I'll be honest I'm not crazy about the two-tone interior in either the Black/Red or the Cocoa/Brown, give me the Insignia interior and thats a different question all together.
I like the Malibu a lot but do I like it that much more than the Accord, not really. My thought was that I would support our local economy and by the Bu, but if we can get a deal on the Honda Accord through my wife's contact where he can make the payment $30- $40 cheaper per month than the Malibu, its a tough decision.

My wife has a 1995 Saturn SL1 and has no problems with domestics, as her family are all large supporters of them. My father-in-law will drive nothing but Cadillac. My parents both drive domestics, my dad a Silverado and my mom is Cadillac as well. After speaking to both a Honda dealer, my wife's friend, and a Chevy Dealer today, the price difference for both is about $35 per month.

 

[psece]

Guys,

I think that you are missing my point the $4 dollar difference is not shocking nor unbearable financially. What is shocking is that the value proposition of GM is not what I expected. I expected them to be around $50 cheaper than the Accord much in the same way a similarly equipped Hyundai Sonata is $60 cheaper than both. If GM wants to get customers in their door and buy their products, at present time they shouldn't be at a premium to the Honda Accord. I know the Malibu is a great car but it does not have the same cache as the Honda Accord. Again, not from my perspective but people cross shopping the vehicle.

As for the comments regarding just doing what my wife wants and she has control over me or enslaved me I think you guys are off base. My wife and I make decisions together and all that I stated is that her preference from a looks perspective, interior perspective is the Honda Accord. Myself I prefer the looks of the Malibu but I'll be honest I'm not crazy about the two-tone interior in either the Black/Red or the Cocoa/Brown, give me the Insignia interior and thats a different question all together.
I like the Malibu a lot but do I like it that much more than the Accord, not really. My thought was that I would support our local economy and by the Bu, but if we can get a deal on the Honda Accord through my wife's contact where he can make the payment $30- $40 cheaper per month than the Malibu, its a tough decision.

My wife has a 1995 Saturn LS300 and has no problems with domestics, as her family are all large supporters of them. My father-in-law will drive nothing but Cadillac. My parents both drive domestics, my dad a Silverado and my mom is Cadillac as well. After speaking to both a Honda dealer, my wife's friend, and a Chevy Dealer today, the price difference for both is about $35 per month.

The value proposition isn't what GM is trying to sell anymore. GM is trying to sell on the merit of the product, saying "Our car is better than the Accord or Camry so you will pay the same price or more." Problem is that the perception(and resale value) is still behind regardless of the subjective argument of which one is better.

As far as saying you guys are off base, I think it was only one guy!

 

[CBECK]

Hey Everyone,

As you know GM announced that it was getting out of the Leasing business here in Canada. My wife and I have been putting off getting a new car until the 95 Saturn died on us, but when GM announced that it was getting out of the leasing business we thought we would buy now.

So we were doing our homework last night and were pricing out the Chevy Malibu LTZ 4 cylinder vs the Honda Accord EX-L 4 cylinder. Both were similarly equipped with very little to choose between the two. To my surprise the Monthly payment, including everything for the two was:

Malibu LTZ 4 cylinder: $526 per month (Canadian)
Accord EX-L 4 cylinder: $507 per month (Canadian)

Even when I applied the GM Car Heaven Rebate the payment was still higher at $511 per month (Canadian).

My wife and I were both shocked. How can the Malibu LTZ 4 cylinder be that much more expensive than a Honda Accord?

Since we know someone at a Honda dealership and my wife prefers the Honda, I was hoping that the lower monthly payments from Chevy would help me win the argument and we would get the Malibu. As I saw last night, I'm surprised and don't have much of an argument.

Any thoughts???

I think that Onstar, 6 speed transmission and remote start is worth $4 a month buddy!!!!

 

[CBECK]

Guys,

I think that you are missing my point the $4 dollar difference is not shocking nor unbearable financially. What is shocking is that the value proposition of GM is not what I expected. I expected them to be around $50 cheaper than the Accord much in the same way a similarly equipped Hyundai Sonata is $60 cheaper than both. If GM wants to get customers in their door and buy their products, at present time they shouldn't be at a premium to the Honda Accord. I know the Malibu is a great car but it does not have the same cache as the Honda Accord. Again, not from my perspective but people cross shopping the vehicle.

As for the comments regarding just doing what my wife wants and she has control over me or enslaved me I think you guys are off base. My wife and I make decisions together and all that I stated is that her preference from a looks perspective, interior perspective is the Honda Accord. Myself I prefer the looks of the Malibu but I'll be honest I'm not crazy about the two-tone interior in either the Black/Red or the Cocoa/Brown, give me the Insignia interior and thats a different question all together.
I like the Malibu a lot but do I like it that much more than the Accord, not really. My thought was that I would support our local economy and by the Bu, but if we can get a deal on the Honda Accord through my wife's contact where he can make the payment $30- $40 cheaper per month than the Malibu, its a tough decision.

My wife has a 1995 Saturn LS300 and has no problems with domestics, as her family are all large supporters of them. My father-in-law will drive nothing but Cadillac. My parents both drive domestics, my dad a Silverado and my mom is Cadillac as well. After speaking to both a Honda dealer, my wife's friend, and a Chevy Dealer today, the price difference for both is about $35 per month.

I'm willing to bet that between insurance and fuel per month you will make up that huge $35 difference.

 

[GreenGreySS]

Yet another man enslaved by his wife.
There's no doubt the dog in the family 'yaps' rather than 'barks', all physical activity such as the lifting of weights is prohibited with exception to walking the aforementioned dog according to a rigorous dog-walking schedule (which cannot conflict with the wife's work schedule), and the consumption of food must be done in a restaurant at least once a week and at a specific restaurant at a particular locale.
Slavery of this type has gotta suck!

HAPPY WIFE, HAPPY LIFE!!!!!