Latest Deals

Epic Leftovers, Part 2: Lease The Lame Duck Chevy Cruze For $37/Month, $0 Down (Yes, Really) - Updated for December!

December 21, 2015 UPDATE: Current Cruze deal on the leaderboard: $29.40 per month, including PA sales tax, $0 drive-off, and Costco cash card of $700 in the mail. Net cost of the lease over two years is -$23.80. (Source: GM-Volt and Slickdeals)

December 5, 2015 UPDATE: The same incentives and lease program apply for the month of December. Many of our readers reported leasing a Cruze in November; the best deal reported was $175 for the entire cost of a 24-month lease (net $7.29/month). (Source: GM-Volt)


Welcome to the second of a monthlong series in which we explore deals on automotive lame ducks—i.e., outgoing car models that will soon be replaced with all-new designs. Today, we'll shine a light on the Chevrolet Cruze Limited, which is on its way out but LOVELY nonetheless.

Check out Part 1 to learn why you should lease a leftover Prius.

2016 Chevrolet Cruze Limited. Source:

2016 Chevrolet Cruze Limited. Source:

We'll try to keep this one short and sweet. It's Thanksgiving after all.

First things first: to qualify for this deal, you must be a current lessee of a non-GM vehicle and a Costco member. If not, then the total cost of the lease will rise by $1,500 and $700 respectively.

The car in question, the 2016 Chevrolet Cruze Limited 1LT Automatic, has an MSRP of $21,080. Aim for a selling price of $19,280, or $1,800 off MSRP, before incentives. There are a number of dealers on popular car buying sites promising that discount in Southern California.

This deal is great because you're amortizing huge discounts over a relatively short period of time—24 months. The 36-month lease, which is what most people go far, is actually much more expensive. Here are the incentives from GM:

2016 Cruze Limited Incentives
GM Financial Lease Cash $1,700
Incremental Bonus Customer Cash (most regions) $1,075
Chevrolet Bonus Cash (Bonus Tag cars only) $1,000
GM Competitive Lessee Conquest Cash $1,500
Total Incentives $5,275

On top of those incentives, there's also an ongoing promotion from Costco. Purchase or lease an eligible GM vehicle (Cruze included), and you'll receive a $700 Costco Cash Card. You must be a Costco Executive member, so upgrade if you haven't already ($55 annually). You'll also need to register with the Costco Auto Program prior to leasing the car. This deal assumes you will front the $700 as a capitalized cost reduction (aka, "down payment").

After the $5,275 in incentives and $700 capitalized cost reduction, plus the unavoidable $595 acquisition fee, the net capitalized cost drops from $19,280 to $13,900.

GM Financial estimates that a Cruze 1LT will be worth 63% of MSRP ($13,280) after 24 months of use at 10,000 miles per year. Therefore, the total depreciation expense is $620, or about $26 per month.

The money factor for the Cruze is .00040 (0.96% APR), which will result in a monthly finance charge of about $11 per month. The total lease payment? $37 per month.

Here's what you should expect when all is said and done. We've added in Los Angeles County sales tax (9%), license/registration, and fees.

Total Drive-Off
First month's payment (after 9% tax) $40
DMV license/registration $226
Dealer document fee ($80 max. in CA) $80
Capitalized cost reduction $700*
Sales tax on incentives and capitalized cost reduction $538

*You get this back in the form of a $700 Costco Cash Card.

Leasehackr Score: 47.9 years

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