Cobalt SS SC for 234CAD/mo.

[Caprice SS]

looking on the AutoTrader website I happened to come across a 2005 Cobalt SS SC lease takeover for only $234 per month. I was astonished as I didn't expect a car this nice for anything less than $350 per month, even when leased.

I am not worried about the requirement for 91+ octane because I found out that instead of creating a price war by selling cheaper gas, some stations sell 90, 92 and 94 for the prices of 87, 89 and 91 respectively.

My budget is pretty tight right now, so I will need a part-time job to pay for it. However, I do have quite a bit of free time.

I have one simple question for you guys: Should I go for it?

[Sixty8panther]

Wow, that is a steal. I'd jump on that deal if it was

offered to me and I hate FWD. The Cobalt SS/SC

is a great car and at this price is a bargain.

[Northstar]

If that's what you want, it seems like a good deal to me.

[Guest YellowJacket894]

Wait; this is a lease, right? Because if it's a buy payment, make sure they don't put the terms on more than five years. Eight years on a car loan is plain balls-out stupid if you ask me.

[Caprice SS]

It's a (three year) lease takeover so I assume it only has about two years left.

The great thing about this is I shouldn't need to make a down payment.

[Guest YellowJacket894]

Well, go for it then.

[pow]

Wow, that's a great deal. Have you checked insurance costs? Mileage restrictions?

Edited May 30, 2006 by empowah

[Northstar]

You have to pay a $695 lease assumption fee if it's GMAC. I was looking at GTO lease takeovers but decided they weren't so great of deals ($199 a month was one, one was $205) when they only had 10 months left and the $695 fee made them like $270 a month.

Over two years though the $695 will only set you back about $30 a month.

[Sixty8panther]

Three years ago the SS/SC Cobalt was just a twinkle

in Chevrolet's eye...

[CARBIZ]

Last time I looked, the GMAC fee was $495 in Canada. You may be able to negotiate with the lessee and get them to cover the fee.

$234 is a steal, especially on a 36 month lease. Just make sure you are okay with the balance of the lease mileage, and you should have the car checked out to make sure it wasn't abused because YOU will be on the hook when you return it.

The guy must have put a lot of money down!

[Caprice SS]

Insurance will be about $150, I was hoping for a bit less but If everything works out I should be able to afford it. Mileage shouldn't be a problem because I'll probably cover it for part of the winter and use my Topaz as a winter beater.

[the_yellow_dart]

Insurance will be about $150, I was hoping for a bit less but If everything works out I should be able to afford it.  Mileage shouldn't be a problem because I'll probably cover it for part of the winter and use my Topaz as a winter beater.

damn you....

I just found a quote for $300/mo, which is an INCREDIBLE deal considering what I've been paying...

[ToniCipriani]

Damn... that's even less than my base Cavalier!

[ocnblu]

Watch yourself. We've had two "Certified" used Cobalt SS/SCs in our shop shortly after being purchased by their second owners. Both cars showed definite signs of previous collision repair. Both had low mileage. This is always a concern for me if I am ever in the market for a used car. Of course, if this possibility does not bother you, go for it.

[76ChevyTrucker]

I dunno, something about assuming a lease just never sounds 100% right to me. If I'm going to get another ride, its going to either be a new lease, or a new or used purchase, assuming a lease brings up too much worry in my mind.

[daves87rs]

I'd take a good look at it....

[ShadowDog]

Eh, get a loan and buy it out. Of course, this is coming from a person who absolutely HATES leasing for personal vehicles due to having too many restrictions and not enough value at the end of the lease.

At the same time, if I wanted a Cobalt, I'd really consider jumping all over that deal just to buy it out.

[daves87rs]

Eh, get a loan and buy it out.  Of course, this is coming from a person who absolutely HATES leasing for personal vehicles due to having too many restrictions and not enough value at the end of the lease.

At the same time, if I wanted a Cobalt, I'd really consider jumping all over that deal just to buy it out.

I wonder if he should lease then buy...