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-tr...r-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]

Originally Posted by TheHammer

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]

Originally Posted by Joey777

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]

Originally Posted by Bill

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

[Joey777]

Originally Posted by 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.

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]

Originally Posted by Joey777

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]

Originally Posted by Louie Detroit

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]

Originally Posted by 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.

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 . . .



I pay Ca$h for my Buicks

[Frankie the Fink]

Originally Posted by 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.

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]

Originally Posted by Frankie the Fink

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.