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Currently Lease A Japanese Car? Here Are Some Sub-$100/Month Deals (Trax: $53/Month, $0 Down)

Program valid through March 31, 2017.

Source: www.chevrolet.com

Source: www.chevrolet.com

This month, Chevrolet released new incentives and programs for their lineup of vehicles. In particular, there's a $3,000 Competitive Lease Cash incentive for current lessees of Toyota, Honda, Hyundai, Mitsubishi, Mazda, Nissan, Subaru, or Kia vehicles, which when combined with strong residual values and reasonable rates, can result in sub-$100/month leases.

Sub-$100/month vehicles include Chevrolet Cruze, Trax, Equinox, and, if all the stars are aligned, Malibu. Today, we'll focus on we'll focus on Trax, Chevrolet's sub-compact SUV. 

Chevrolet Trax Lease Program

The cost of leasing a particular car is determined by its lease program, which is set by the manufacturer, and the selling price, which is set by the dealer. Here is GM Financial's lease program for 2017 Trax through the end of March 2017:

2017 Trax Residual Values
Term 10,000 Miles/Year 12,000 Miles/Year 15,000 Miles/Year
24 Months 67% 66% 65%
36 Months 59% 57% 56%
2017 Trax Money Factor
Term Tier A1 Credit Tier A2 Credit Tier A3 Credit
24 Months .00087 (2.09% APR) .00195 (4.68% APR) .00293 (7.03% APR)
36 Months .00054 (1.3% APR) .00162 (3.9% APR) .00260 (6.2% APR)
2017 Trax Incentives
Incentive Availability Amount
GM Financial Lease Cash ("CCR") All $1,075
GM Financial Incremental Bonus Cash Most Regions $1,500
Bonus Tag Cash Select VINs $1,500
Competitive Lessee Cash (Japanese or Korean) Targeted $3,000
Competitive Lessee Cash (all non-GM) Targeted $1,500
GM Lease Loyalty Targeted $500
Farm Bureau Incentive Targeted $500

Selling Price

A 2017 Chevrolet Trax LS has an MSRP of $21,895. According to a third-party car shopping website, the average selling price of that model is $20,889 before incentives (Southern California zip code). We would target a selling price of $20,500, which is consistent with the best dealer ads. 

Putting It Together ($53/Month, $0 Down)

Use the lease calculator below to customize your own inputs. Here's a sample 24-month lease of a 2017 Trax LS assuming a selling price of $20,500, excellent credit, 10,000 miles per year, California residency, and use of the $3,000 Competitive Lessee incentive and acquisition fee waiver. (If you were a Farm Bureau member and found a Trax with a Bonus Tag, you could be looking at a free one-pay lease! The incentives would cover the entire cost of the lease.)

% off MSRP
I want to pay my acquisition fee upfront.
%
Residual (%) at miles/yr
APR: %
Enroll in Mercedes-Benz Autopay to lower the MF by 0.00010
GM One-pay Lease: I want to lower the MF by 0.00073 by paying everything upfront.
GM Acquisition Waiver: waive the acquisition fee by raising the MF by 0.00055.
APR: %
%
Tax is levied on the monthly lease payment (most states).
Tax is levied on the sales price upfront (e.g. VA, TX, GA).
Tax is levied on the total lease payment upfront (e.g. NY, MN, OH).
First month's payment incl. tax:
Total one-pay lease payment:
Down payment:
Total MSD payment:
Registration and doc fee:
Tax on cap cost reduction and fees:
Acquisition fee:
Tax on the total lease payment:
Tax on the sales price:
$350

Recently leased a Trax? Share your deal below or on Leasehackr Forum!