C6 lease upgrade
11-06-2007, 10:22 PM
#1
Safety Car
Thread Starter
C6 lease upgrade
Is there anybody with any experience with lease upgrades here ?
I currently lease a 2007 Malibu SS through GMAC, I am currently a little over a year into my lease and I wish to return this car early and upgrade with a new 2008 C6...... has anybody done this ?
I would think because I am "upgrading" meaning, giving them more money, they would work with me on this, but have no experience trying to turn in an early lease.
In addition, I may wish to purchase the Corvette instead of leasing....
In any regards, one way or another, I will be ordering a new C6 by week end, but it would really help me to be able to get out my Malibu lease at the same time.....
I'll be talking to the dealership I worked with on the first lease tomorrow, but if anybody can give me a heads-up on this before I go in it would be appreciated.
Thank you !!
I currently lease a 2007 Malibu SS through GMAC, I am currently a little over a year into my lease and I wish to return this car early and upgrade with a new 2008 C6...... has anybody done this ?
I would think because I am "upgrading" meaning, giving them more money, they would work with me on this, but have no experience trying to turn in an early lease.
In addition, I may wish to purchase the Corvette instead of leasing....
In any regards, one way or another, I will be ordering a new C6 by week end, but it would really help me to be able to get out my Malibu lease at the same time.....
I'll be talking to the dealership I worked with on the first lease tomorrow, but if anybody can give me a heads-up on this before I go in it would be appreciated.
Thank you !!
11-06-2007, 10:31 PM
#2
Burning Brakes
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St. Jude Donor '08
Is there anybody with any experience with lease upgrades here ?
I currently lease a 2007 Malibu SS through GMAC, I am currently a little over a year into my lease and I wish to return this car early and upgrade with a new 2008 C6...... has anybody done this ?
I would think because I am "upgrading" meaning, giving them more money, they would work with me on this, but have no experience trying to turn in an early lease.
In addition, I may wish to purchase the Corvette instead of leasing....
In any regards, one way or another, I will be ordering a new C6 by week end, but it would really help me to be able to get out my Malibu lease at the same time.....
I'll be talking to the dealership I worked with on the first lease tomorrow, but if anybody can give me a heads-up on this before I go in it would be appreciated.
Thank you !!
I currently lease a 2007 Malibu SS through GMAC, I am currently a little over a year into my lease and I wish to return this car early and upgrade with a new 2008 C6...... has anybody done this ?
I would think because I am "upgrading" meaning, giving them more money, they would work with me on this, but have no experience trying to turn in an early lease.
In addition, I may wish to purchase the Corvette instead of leasing....
In any regards, one way or another, I will be ordering a new C6 by week end, but it would really help me to be able to get out my Malibu lease at the same time.....
I'll be talking to the dealership I worked with on the first lease tomorrow, but if anybody can give me a heads-up on this before I go in it would be appreciated.
Thank you !!
Yes you are in your eyes "Upgrading" however GMAC doesnt give a crap because they dont sell the cars, the dealership does, GMAC finances your lease and they wont let you break it without paying them in full...GMAC also does not allow someone to assume your lease...
You do have an option...you can trade it into the dealership for whatever they will give you for it....if...and this is the biggest IF in the world...IF your Malibu is worth more than what you owe on it you can use that extra money towards your Vette however it is hightly unlikely it is worth more than you owe...in reality it is worth less than what you owe....so the dealership can give you what it is worth to them and then roll the negative equity into the Vette Payment...this is in my opinion throwing good money after bad....and yes, I have done this several times and pay the price to do it....but that my wallet to worry about.....in the sort of it all...you will either have to just keep the malibu and get the Vette or if that isnt possible financially you will have to drive the Malibu to lease end or until the Pull Ahead Program that works for you.....then get the Vette...
11-06-2007, 10:43 PM
#4
Team Owner
Unfortunately it isnt that simple...you signed a contract with GMAC for the term of the lease of your Malibu and they want payment...they will let you walk away from your lease however you must make the remaining payments to them and then walk away which is in my opinion very stupid as you pay the payments to them anyhow you should drive the car...
Yes you are in your eyes "Upgrading" however GMAC doesnt give a crap because they dont sell the cars, the dealership does, GMAC finances your lease and they wont let you break it without paying them in full...GMAC also does not allow someone to assume your lease...
You do have an option...you can trade it into the dealership for whatever they will give you for it....if...and this is the biggest IF in the world...IF your Malibu is worth more than what you owe on it you can use that extra money towards your Vette however it is hightly unlikely it is worth more than you owe...in reality it is worth less than what you owe....so the dealership can give you what it is worth to them and then roll the negative equity into the Vette Payment...this is in my opinion throwing good money after bad....and yes, I have done this several times and pay the price to do it....but that my wallet to worry about.....in the sort of it all...you will either have to just keep the malibu and get the Vette or if that isnt possible financially you will have to drive the Malibu to lease end or until the Pull Ahead Program that works for you.....then get the Vette...
Yes you are in your eyes "Upgrading" however GMAC doesnt give a crap because they dont sell the cars, the dealership does, GMAC finances your lease and they wont let you break it without paying them in full...GMAC also does not allow someone to assume your lease...
You do have an option...you can trade it into the dealership for whatever they will give you for it....if...and this is the biggest IF in the world...IF your Malibu is worth more than what you owe on it you can use that extra money towards your Vette however it is hightly unlikely it is worth more than you owe...in reality it is worth less than what you owe....so the dealership can give you what it is worth to them and then roll the negative equity into the Vette Payment...this is in my opinion throwing good money after bad....and yes, I have done this several times and pay the price to do it....but that my wallet to worry about.....in the sort of it all...you will either have to just keep the malibu and get the Vette or if that isnt possible financially you will have to drive the Malibu to lease end or until the Pull Ahead Program that works for you.....then get the Vette...
11-06-2007, 10:47 PM
#5
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Is there anybody with any experience with lease upgrades here ?
I currently lease a 2007 Malibu SS through GMAC, I am currently a little over a year into my lease and I wish to return this car early and upgrade with a new 2008 C6...... has anybody done this ?
I would think because I am "upgrading" meaning, giving them more money, they would work with me on this, but have no experience trying to turn in an early lease.
In addition, I may wish to purchase the Corvette instead of leasing....
In any regards, one way or another, I will be ordering a new C6 by week end, but it would really help me to be able to get out my Malibu lease at the same time.....
I'll be talking to the dealership I worked with on the first lease tomorrow, but if anybody can give me a heads-up on this before I go in it would be appreciated.
Thank you !!
I currently lease a 2007 Malibu SS through GMAC, I am currently a little over a year into my lease and I wish to return this car early and upgrade with a new 2008 C6...... has anybody done this ?
I would think because I am "upgrading" meaning, giving them more money, they would work with me on this, but have no experience trying to turn in an early lease.
In addition, I may wish to purchase the Corvette instead of leasing....
In any regards, one way or another, I will be ordering a new C6 by week end, but it would really help me to be able to get out my Malibu lease at the same time.....
I'll be talking to the dealership I worked with on the first lease tomorrow, but if anybody can give me a heads-up on this before I go in it would be appreciated.
Thank you !!
Whatever you do, just don't give back the car on a trade in or any other kind of swap as gmac will report to the credit agencies a VOLUNTARY REPOSSESSION and it is tantamount to breaking a contract and your credit rating will into the dumper. Don't let any hump salesman tell you otherwise.
11-06-2007, 10:48 PM
#6
Burning Brakes
All above is true but one last possible option is swapalease.com. If you have a low payment and plenty of milage left you could try to post it there and someone else can assume your current lease. The key is milage and payment because you are competing against everyone else that wants to get rid of there malibu or whatever car their. You could also pick up your vette their if you wanted.
Joe
Joe
11-06-2007, 10:49 PM
#7
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St. Jude Donor '08
All above is true but one last possible option is swapalease.com. If you have a low payment and plenty of milage left you could try to post it there and someone else can assume your current lease. The key is milage and payment because you are competing against everyone else that wants to get rid of there malibu or whatever car their. You could also pick up your vette their if you wanted.
Joe
Joe
11-06-2007, 10:52 PM
#8
Burning Brakes
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St. Jude Donor '08
Whatever you do, just don't give back the car on a trade in or any other kind of swap as gmac will report to the credit agencies a VOLUNTARY REPOSSESSION and it is tantamount to breaking a contract and your credit rating will into the dumper. Don't let any hump salesman tell you otherwise.
11-06-2007, 10:54 PM
#9
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St. Jude Donor '08
11-06-2007, 10:55 PM
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St. Jude Donor '08
I have traded in leased vehicles many times and this does not happen...it is not a Voluntary Reposession...what the bank sees is that your leased vehicle is now purchased from them and the books are closed on it...if it was a Voluntary reposession it would be on my credit report and they arent...they show up as paid off accounts
- When you swap the car in the dealership pays the balance of the lease off . Its a purchase , not a lease break 
11-06-2007, 10:56 PM
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St. Jude Donor '08
11-06-2007, 10:59 PM
#13
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St. Jude Donor '08
Why not license the SS so that Toyota can come out with an Echo SS?
11-06-2007, 10:59 PM
#14
Safety Car
Thread Starter
Thanks for the input guys 
.... even though you're not telling me what I want to hear 
..... I'll try to work something out with the dealer, even if I have to take it a little bit on the kisser.... but I really am not looking to lease the new C6, I wish to purchase instead and use it as my business car....
Maui, yes, in 07 they had several SS models, including the Malibu SS.... its actually a pretty decent car with an upgraded bigger V6 with 240 HP, nice rims and upgraded body.....I use it for my business car, put a lot of miles on it.... garners attention from many customers.
Here is a link.....
http://www.gmcanada.com/gm/english/v...malibu/model02
.... even though you're not telling me what I want to hear ..... I'll try to work something out with the dealer, even if I have to take it a little bit on the kisser.... but I really am not looking to lease the new C6, I wish to purchase instead and use it as my business car....Maui, yes, in 07 they had several SS models, including the Malibu SS.... its actually a pretty decent car with an upgraded bigger V6 with 240 HP, nice rims and upgraded body.....I use it for my business car, put a lot of miles on it.... garners attention from many customers.
Here is a link.....
http://www.gmcanada.com/gm/english/v...malibu/model02
11-06-2007, 11:03 PM
#15
Safety Car
Thread Starter
quite frankly, it handles as good if not better than my C4....
11-06-2007, 11:03 PM
#16
Burning Brakes
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St. Jude Donor '08
when i wanted to get out of my GMAC lease last spring I wasnt allowed to as GMAC doesnt allow someone else to assume your lease...so I traded it in instead. maybe their policy has changed...call 1-800-200-GMAC to find out if they will allow someone to assume your lease...pleas post their reply for clarification
11-06-2007, 11:06 PM
#17
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St. Jude Donor '08
Thanks for the input guys .... even though you're not telling me what I want to hear ..... I'll try to work something out with the dealer, even if I have to take it a little bit on the kisser.... but I really am not looking to lease the new C6, I wish to purchase instead and use it as my business car....
Maui, yes, in 07 they had several SS models, including the Malibu SS.... its actually a pretty decent car with an upgraded bigger V6 with 240 HP, nice rims and upgraded body.....I use it for my business car, put a lot of miles on it.... garners attention from many customers.
Here is a link.....
http://www.gmcanada.com/gm/english/v...malibu/model02
.... even though you're not telling me what I want to hear ..... I'll try to work something out with the dealer, even if I have to take it a little bit on the kisser.... but I really am not looking to lease the new C6, I wish to purchase instead and use it as my business car....Maui, yes, in 07 they had several SS models, including the Malibu SS.... its actually a pretty decent car with an upgraded bigger V6 with 240 HP, nice rims and upgraded body.....I use it for my business car, put a lot of miles on it.... garners attention from many customers.
Here is a link.....
http://www.gmcanada.com/gm/english/v...malibu/model02
11-06-2007, 11:12 PM
#18
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St. Jude Donor '08
Thanks for the input guys .... even though you're not telling me what I want to hear ..... I'll try to work something out with the dealer, even if I have to take it a little bit on the kisser.... but I really am not looking to lease the new C6, I wish to purchase instead and use it as my business car....
Maui, yes, in 07 they had several SS models, including the Malibu SS.... its actually a pretty decent car with an upgraded bigger V6 with 240 HP, nice rims and upgraded body.....I use it for my business car, put a lot of miles on it.... garners attention from many customers.
Here is a link.....
http://www.gmcanada.com/gm/english/v...malibu/model02
.... even though you're not telling me what I want to hear ..... I'll try to work something out with the dealer, even if I have to take it a little bit on the kisser.... but I really am not looking to lease the new C6, I wish to purchase instead and use it as my business car....Maui, yes, in 07 they had several SS models, including the Malibu SS.... its actually a pretty decent car with an upgraded bigger V6 with 240 HP, nice rims and upgraded body.....I use it for my business car, put a lot of miles on it.... garners attention from many customers.
Here is a link.....
http://www.gmcanada.com/gm/english/v...malibu/model02
11-06-2007, 11:15 PM
#19
Burning Brakes
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St. Jude Donor '08
11-06-2007, 11:17 PM
#20
Team Owner
All above is true but one last possible option is swapalease.com. If you have a low payment and plenty of milage left you could try to post it there and someone else can assume your current lease. The key is milage and payment because you are competing against everyone else that wants to get rid of there malibu or whatever car their. You could also pick up your vette their if you wanted.
Joe
Joe