New car lease

[Joey777]

My 94 year old mother wants a new car. She settled on a 2024 Chevy Trail Blazer with a sticker price of 32k. She recognizes her driving days are limited so she has decided to lease. She can lease the car for 3 years with an upfront payment of 12k and her trade-in 2011 Equinox with 113k miles. I’ve never leased a vehicle so know nothing about the process. Is there any downside to this deal? TIA.

[Big bob]

That does not sound like any kind of deal. Just punched this up.


The 2024 Chevrolet Trailblazer is a compact SUV that features Pedestrian Detection, In-Car WiFi, and Forward Collision Warning. Leasing the Chevrolet Trailblazer can be a good option through a variety of lease deals, options, and packages. The average lease payment for the Chevrolet Trailblazer is $365/mo with $2,000 due at signing for a 36-month term with 12,000 annual mileage limit. Average monthly lease payments for the same deal but with 24-month or 48-month term lengths are $441/mo and $366/mo respectively.

[Bill]

That sounds like a horrific deal. That trade should at least bring $ 4K in a private sale. So $ 12K + $ 4K = $ 16K down on a $ 32K MSRP car that, according to a quick perusal of Autotrader, is discounted by multiple dealers. AND she'll presumably be making 3 years of lease payments.

Would run from that 'deal.'

[Bill]

https://www.edmunds.com/chevrolet-trailblazer-lease-deals/

Most of these listed 'deals' indicate $ 2,500 down, not, say, $ 15K down.

[Joey777]

The deal is she pays 1 upfront payment of $12,200 plus her trade-in(2k) and she gets the new Trail Blazer for 3 years then turns it in and walks away. No other monthly payments.

[TheHammer]

Does she have anything good to sell?

[Joey777]

Does she have anything good to sell?
How about a 2011 Equinox with 120,000 miles and rust holes you could throw a cat thru? Interested?

[Bill]

How about a 2011 Equinox with 120,000 miles and rust holes you could throw a cat thru? Interested?

I can send her a cat if she needs to test that out. COD only, please.

[Joey777]

:DI can send her a cat if she needs to test that out. COD only, please.

[Joey777]

That does not sound like any kind of deal. Just punched this up.


The 2024 Chevrolet Trailblazer is a compact SUV that features Pedestrian Detection, In-Car WiFi, and Forward Collision Warning. Leasing the Chevrolet Trailblazer can be a good option through a variety of lease deals, options, and packages. The average lease payment for the Chevrolet Trailblazer is $365/mo with $2,000 due at signing for a 36-month term with 12,000 annual mileage limit. Average monthly lease payments for the same deal but with 24-month or 48-month term lengths are $441/mo and $366/mo respectively.

Seems to me she is getting a better than average deal according to this info.

[Louie Detroit]

At her advanced age why doesn’t she just take a cab instead?

[Bill]

Seems to me she is getting a better than average deal according to this info.

Her deal works out to be about $ 325/mo, but prepaid if we compare to the $ 2,500 down payments listed, so what's that discount work out to compared to paying it out over time? I don't know what car loans are going for these days.

We also have to know the list prices of the comparables so we're comparing apples to apples.

[Joey777]

At her advanced age why doesn’t she just take a cab instead?

Rural area with no cabs readily available.

[IB4TL]

94 and still driving
She anticipates driving until she's 97
🤯

I would never lease a vehicle. YMMV

[Yadkin]

The problem with leasing a vehicle is that if your lifestyle changes where you need something different, you need to drive less miles or more, they've got you over a barrel. At age 94, the chances of something changing are rather large.

Just buy the car using the old one as a down payment.

[LATB]

The problem with leasing a vehicle is that if your lifestyle changes where you need something different, you need to drive less miles or more, they've got you over a barrel. At age 94, the chances of something changing are rather large.

Just buy the car using the old one as a down payment.

If they buy the car it will cost her 30K out of pocket along with the 2K trade.
The lease will cost her 12K out of pocket.

I would do the lease and keep the cash.

[A/E]

I don't need some Saleshole pitching me a Lease at my Age . . .

102557

I pay Ca$h for my Buicks

[Frankie the Fink]

The problem with leasing a vehicle is that if your lifestyle changes where you need something different, you need to drive less miles or more, they've got you over a barrel. At age 94, the chances of something changing are rather large.

Just buy the car using the old one as a down payment.

My Dad was in the car biz when leases first took off and I've never been a fan; the fine print is a killer. The are prob OK for some small segment of people.

Personally, I would sell her trade in and give her the cash (I've done it for relatives) and then broker a deal for her (lease or buy)...

[lrobe22]

As I understand, prepaying on a lease is always a bad move. I’d bet her best option is to buy, and sell down the road in what will likely be pristine condition for a premium.

[Yadkin]

My Dad was in the car biz when leases first took off and I've never been a fan; the fine print is a killer. The are prob OK for some small segment of people.

Personally, I would sell her trade in and give her the cash (I've done it for relatives) and then broker a deal for her (lease or buy)...

I had a job where a three year leased vehicle in my name was supplement to my income. After two years I quit the job and then had to make the payments myself. My new self employment resulted in a lot more travel so I had to pay for the extra mileage when I turned it in.

[Frankie the Fink]

I had a job where a three year leased vehicle in my name was supplement to my income. After two years I quit the job and then had to make the payments myself. My new self employment resulted in a lot more travel so I had to pay for the extra mileage when I turned it in.

And that's the "fine print"; exceed the agreed upon mileage and the upcharge can be crippling... Not a fan of the practice. I did buy a couple of lease turn ins from Carmax over the years with less than 12,000 miles on them. Well maintained, great condition and put several hundred thousand miles on them...

[Joey777]

At this point she isn’t putting many miles on a car. Church and the grocery store are about it so the mileage restriction won’t be a factor. What other items should we look out for in the fine print?

[Yadkin]

At this point she isn’t putting many miles on a car. Church and the grocery store are about it so the mileage restriction won’t be a factor. What other items should we look out for in the fine print?

Figure her annual mileage and add ten percent and negotiate a low payment based on that. Also the length of the lease, and what the buyout is if her health declines and she can no longer drive. Can the lease be terminated early without penalty?

[Louie Detroit]

At this point she isn’t putting many miles on a car. Church and the grocery store are about it so the mileage restriction won’t be a factor. What other items should we look out for in the fine print?

I'm not trying to beat a dead horse here, but have you explored finding someone from her Church to help her out?