Currently Lease A Japanese Car? Here Are Some Sub-$100/Month Deals (Trax: $53/Month, $0 Down) (Expired)
Program valid through March 31, 2017.
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.)
(11/13/17: Have issues with the calculator loading? Refresh the page. We are working on a fix.)
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:
Recently leased a Trax? Share your deal below or on Leasehackr Forum!