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Epic Leftovers, Part 3: Lease The Lame Duck Chevy Malibu For $88/Month, $0 Down ($46/Month If You Have A Volt)

Welcome to the third article of our 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 Malibu Limited, which is on its way out but a perfectly usable midsize family sedan nonetheless.

Check out Part 2 to learn why you should lease a leftover Cruze.

2016 Chevrolet Malibu Limited. Source:

2016 Chevrolet Malibu Limited. Source:

Current lease program valid through January 4, 2016.

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

The car in question, the 2016 Chevrolet Malibu Limited 1LT Automatic, has an MSRP of $24,660. Aim for a selling price of $22,560, or $2,100 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 Malibu Limited 1LT Incentives
GM Financial CCR $2,750
Incremental Bonus Customer Cash $575
Bonus Tag Bonus Cash* $1,000
GM Competitive Lessee Conquest Cash $1,500
Total Incentives $5,825

*Only available to specific VINs with a Bonus Tag.

After the $5,825 in incentives, plus the unavoidable $595 acquisition fee, the net capitalized cost drops from $22,560 to $17,330.

GM Financial estimates that a Malibu Limited 1LT will be worth 63% of MSRP ($15,536) after 24 months of use at 10,000 miles per year. Therefore, the total depreciation expense is $1,794, or about $75 per month.

The money factor for the Malibu is .00040 (0.96% APR), which will result in a monthly finance charge of about $13 per month. The total lease payment? $88 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) $96
DMV license/registration $248
Dealer document fee ($80 max. in CA) $80
Capitalized cost reduction $0
Sales tax on incentives and capitalized cost reduction $531

If you're currently a Volt lessee or owner, you can use the $2,500 Chevrolet Volt Loyalty incentive in lieu of the $1,500 Competitive Lessee Conquest Cash. This will lower the lease payment from $88/month to $46/month. 

If you qualify for neither of those incentives, be on the lookout for $1,000 Private Offer certificates on the Chevrolet website. These certificates literally pop up from time to time when you browse the Chevrolet website.

Did you recently lease a Chevy Malibu? Share your deal below.

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% off MSRP
e.g., cash-back offers, loyalty cash, bonus cash. Most states treat customer cash rebates as a capitalized cost reduction, which is subject to sales tax.
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I want to pay my acquisition fee upfront.
Acquisition fee, a.k.a. "Bank Fee," is set by the leasing company. Some dealers mark up this fee to make additional profit for themselves. You can negotiate the fee back to its original that we are showing here.
( miles/yr)
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APR: %
Enroll in Mercedes-Benz Autopay to lower the MF by 0.00010
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The number of years it would take for the accumulated monthly payments to exceed the MSRP. The higher the number, the better it is to lease as opposed to buy.
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