Author Topic: Advice on buying/leasing a new 2009 Vibe  (Read 3966 times)

Offline infinitime

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Advice on buying/leasing a new 2009 Vibe
« on: May 16, 2008, 12:35:34 pm »
My girlfriend is in the market for a new car, and we have been looking at various economy cars.  The main criteria are that it must be an automatic-transmissioned four door hatchback. 

So far, we have looked at the Vibe, Astra, Matrix, City Golf, SX4, Mazda3 wagon, and Impreza.   We are partial to either the Astra or Vibe, given that my girlfriend has about $1,500 worth of unused GM points (of which $700 can be used on the Astra and $1,000 on the Vibe).  I am partial to the Vibe as I own the first generation model, and have found it to be more than satisfactory.  That plus the fact that the current model offers the 2.4L engine for only $750 over the base price, this Vibe is a great deal!

However, we were alarmed to discover that unlike the other GM products, the lease rate on the Vibe is at an astronomical 7.4%(!!!) and at 5.4% for financing.  On a 48 month lease, this translates to nearly $4,000 in interest over four years! 

The Astra is more favorable in this regard, with a rate of only about 2.9% on a 48 month lease. 

I have done my homework and obtained a factory invoice quote through CarCosts, but I am still wondering if anyone has experience dealing with GMAC, in trying to negotiate down the lease/finance rate.  My girlfriend and I both have very good credit ratings, so the only issue is whether these rates are negotiable. 

Also, it would be great if some GMinsider can share information as to when these rates are adjusted?  I suspect that given it is a 2009 model, and the fact that this is essentially a Toyota, it may be awhile before GM decided to lower rates on these cars?

On an unrelated note, I found the Astra to be a great drive, but the lack of headroom does create for a somewhat claustaphobic feel.  Having done my homework, it also appears as if the automatic transmission on this car was an afterthought.   If you pour through the literature, you'll see that the same 1.8L engine is rated to 175 N.m for torque (according to the spec sheet for the UK model with the same engine), but the Aisin Warner 4-speed automatic is rated to handle only a maximum of 170N.m for torque??? Seems like a recipe for premature transmission failure.   It is also interesting to note that sales have been very slow for these cars, as the dealer I visited commented on how they were "flying off the lot"... at a rate of about 3 cars per month.  Given its European origins and the low sales volume, this does not bode well for long-term parts availability or affordability.  That is actually one of the main reasons why the Vibe prevailed in the selection process. 

However, that ridiculous lease rate on the Vibe does create cause for concern!


Offline mwqa

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Re: Advice on buying/leasing a new 2009 Vibe
« Reply #1 on: May 16, 2008, 12:41:43 pm »
So far, we have looked at the Vibe, Astra, Matrix, City Golf, SX4, Mazda3 wagon, and Impreza. 

What did you think of the other cars you've test driven?

Offline sirAQUAMAN64

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Re: Advice on buying/leasing a new 2009 Vibe
« Reply #2 on: May 16, 2008, 12:46:06 pm »
Did you see many Astras on the lot? The sales are currently artificially low due to availability issues, but should soon rise.

I think you will soon see better rates or some sort of carrot on the Vibe 2.4. Give it a few weeks. The 2.4 option on the base car provides good value (despite the fuel economy hit, think I'd opt for it), and is a key advantage over the Matrix.



« Last Edit: May 16, 2008, 12:48:48 pm by sirAQUAMAN64 »
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Offline infinitime

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Re: Advice on buying/leasing a new 2009 Vibe
« Reply #3 on: May 16, 2008, 01:24:38 pm »
So far, we have looked at the Vibe, Astra, Matrix, City Golf, SX4, Mazda3 wagon, and Impreza. 

What did you think of the other cars you've test driven?

The other cars were all decent, and each had their strengths and weakenesses... the Astra was underpowered, but was more stable than any of the other cars tested at highway speeds, including the City Golf.   The problem with that car is really the questionable 4-speed auto.

The City Golf felt snug, but that is to be expected given that it is nearly a 10 year old design.  VW has done an incredible job of updating the car, but I don't know if the 6-speed automatic was an improvement, given that it shifts much too frequently in city driving.  While this will enhance fuel economy, it also makes for too many noticable shifts.  The other problem with the current City Golf is that they have decontentized much of the small interior bits.  The plastic quality is not as good as the earlier Golf, and little things like grab-handle dampeners (which used to allow for the handle to gently return to its original position) are now gone.  You let go of the grab handle, and it snaps back in place with a decidedly cheap feeling click.  The new dash LOOKS nicer, but plastic is reminescent of my early 1990s Golf in feel.  I am a big VW fan, but many of these issues weaken its competitiveness against more modern competitors.  The legroom and headroom of the back seats were also the worse of all the cars tested.

The Impreza was nice, but definitely not as hard-core as the last generation.  It felt like a more well-built Corolla with AWD, but was otherwise not that special.  It also suffered from a wierd vagueness in its steering, which reminded me of the 1985 Pony I once had.  The lower centre of gravity of the boxster engine was nice though, as it felt very well planted in the turn.  A good choice, but also one of the pricier options for us.

The SX4 looked great on paper, but just didn't feel right behind the wheel.  Its steering was not linear, with a big dead-spot in the centre, but too abrupt on the extremes of the turn.  It was also much smaller than I expected, though still larger than a City Golf in overall feel.  Though I am surely going against the trend on this one, I liked the used Aerio I tested at the same time better.

The Vibe is by no means perfect, but it strikes a nice balance of all the attributes that we are looking for.  ONe thing I have noticed though, is that it is seriously decontentized compared to the first generation model, which came standards with A/C, a roof rack, fog lamps, a fold-flat front passenger seat, and a split hatch.  most of these are now options, and the split-hatch is no longer available.  However, it has gained ABS, 4-wheel discs, ESC, and six-airbags, all standard.  The fabric and plastic on the new model (contrary to what many reviewers have posted) is a decidedly lower quality.  There is also less headroom in the backseat, and there is a "lip" on the base of the hatch, unlike the completely flat opening on the old model, which made it possible for me to slide heavy objects into the trunk without lifting.  Apparently, this is a safety improvement to give more support to the rear hatch in a serious rear-end collision.

Offline tortoise

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Re: Advice on buying/leasing a new 2009 Vibe
« Reply #4 on: May 16, 2008, 02:04:03 pm »
Though I haven't driven one, a concern for your GF if she's short might be rear visibility in the Vibe.  The rear glass is ridiculously small and should lead to some large blind spots.
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Re: Advice on buying/leasing a new 2009 Vibe
« Reply #5 on: May 16, 2008, 02:15:21 pm »
Though I haven't driven one, a concern for your GF if she's short might be rear visibility in the Vibe.  The rear glass is ridiculously small and should lead to some large blind spots.

That why there is mirrors

hoodlum

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Re: Advice on buying/leasing a new 2009 Vibe
« Reply #6 on: May 16, 2008, 02:33:19 pm »
So far, we have looked at the Vibe, Astra, Matrix, City Golf, SX4, Mazda3 wagon, and Impreza.   

What did you think of the Mazda3 sport? 

The new 2008.5 GX sport with the comfort package looks nice.  And the 0%/60mth or 1.9%/84 month purchase financing is the best available right now.  You will also be able to get a dealer discount on the Mazda similar to your GM discount.  The GX w/Comfort would work out to $310/mth with no money down (incl. taxes, Freight/PDI, etc).  I suspect the monthly lease rates on the Astra/Vibe would be the same or higher.

http://www.canadiandriver.com/testdrives/2008-mazda3-sport-gx.htm

Offline infinitime

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Re: Advice on buying/leasing a new 2009 Vibe
« Reply #7 on: May 16, 2008, 02:35:53 pm »
So far, we have looked at the Vibe, Astra, Matrix, City Golf, SX4, Mazda3 wagon, and Impreza.   

What did you think of the Mazda3 sport? 

The new 2008.5 GX sport with the comfort package looks nice.  And the 0%/60mth or 1.9%/84 month purchase financing is the best available right now.  You will also be able to get a dealer discount on the Mazda similar to your GM discount.  The GX w/Comfort would work out to $310/mth with no money down (incl. taxes, Freight/PDI, etc).  I suspect the monthly lease rates on the Astra/Vibe would be the same or higher.

http://www.canadiandriver.com/testdrives/2008-mazda3-sport-gx.htm

Thanks for the tip!  I test drove the Mazda3, but since it is essentially the same model as the one I test drove 4 years ago when I got my Vibe, we didn't give it any serious consideration.  Having said that, it drove quite well.  Guess it is time for me to use another one of my CarCosts credits to figure out how much the Mazda3 is after negotiations and incentives...:)

hoodlum

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Re: Advice on buying/leasing a new 2009 Vibe
« Reply #8 on: May 16, 2008, 02:50:44 pm »
So far, we have looked at the Vibe, Astra, Matrix, City Golf, SX4, Mazda3 wagon, and Impreza.   

What did you think of the Mazda3 sport? 

The new 2008.5 GX sport with the comfort package looks nice.  And the 0%/60mth or 1.9%/84 month purchase financing is the best available right now.  You will also be able to get a dealer discount on the Mazda similar to your GM discount.  The GX w/Comfort would work out to $310/mth with no money down (incl. taxes, Freight/PDI, etc).  I suspect the monthly lease rates on the Astra/Vibe would be the same or higher.

http://www.canadiandriver.com/testdrives/2008-mazda3-sport-gx.htm

Thanks for the tip!  I test drove the Mazda3, but since it is essentially the same model as the one I test drove 4 years ago when I got my Vibe, we didn't give it any serious consideration.  Having said that, it drove quite well.  Guess it is time for me to use another one of my CarCosts credits to figure out how much the Mazda3 is after negotiations and incentives...:)


When comparing prices with the Vibe, just remember the 0% Mazda financing will save you ~ $3000 - $4000 in financing cost vs the Vibe's.

Offline tortoise

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Re: Advice on buying/leasing a new 2009 Vibe
« Reply #9 on: May 16, 2008, 03:18:38 pm »

That is why there are mirrors

I guess.  Still, for someone who is short having to always use only the side mirrors would get pretty annoying.  Especially since the majority of drivers aren't very adept at parallel parking or backing up when they do have good visibility out the back.

dorin

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Re: Advice on buying/leasing a new 2009 Vibe
« Reply #10 on: May 16, 2008, 03:24:56 pm »
Is your girlfriend planning to buy the car out after the lease?  If she isn't then why would parts availability be a concern for the Astra?

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Re: Advice on buying/leasing a new 2009 Vibe
« Reply #11 on: May 16, 2008, 03:38:00 pm »

That is why there are mirrors

I guess.  Still, for someone who is short having to always use only the side mirrors would get pretty annoying.  Especially since the majority of drivers aren't very adept at parallel parking or backing up when they do have good visibility out the back.

If you can not park it, dont drive it ;D

Offline infinitime

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Re: Advice on buying/leasing a new 2009 Vibe
« Reply #12 on: May 16, 2008, 05:08:42 pm »
Is your girlfriend planning to buy the car out after the lease?  If she isn't then why would parts availability be a concern for the Astra?

She is on the fence, provided that the car does not turn into a major lemon, and that it was not involved in any major accidents during the term of the lease, there is a good chance of a buy-out at the end of the lease.

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Re: Advice on buying/leasing a new 2009 Vibe
« Reply #13 on: May 16, 2008, 05:36:48 pm »
Vibe and Matrix are getting mixed reviews.

If you can hang in a few more months I would wait to check out new Elantra Touring wagon coming out this fall. The interior is beautiful and is much more grown up than the Vibe. Matches Vibe for cargo capacity. Has a sport shift automatic as well. Looks promising.

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Re: Advice on buying/leasing a new 2009 Vibe
« Reply #14 on: May 17, 2008, 02:43:40 am »
Hmmm an Elantra Wagon GT might be a competitor worth waiting for instead of the Vibe!

Those rates are ridiculous.  But I believe if someone can't pay cash for a purchase then one should wait until one can.  I pay cash for my cars (and for my house). Practicing responsible personal finance is the best thing anyone can do for oneself, especially if one aspires to retire at a reasonable age with financial comfort.

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Re: Advice on buying/leasing a new 2009 Vibe
« Reply #15 on: May 17, 2008, 08:24:39 am »
Hmmm an Elantra Wagon GT might be a competitor worth waiting for instead of the Vibe!

Those rates are ridiculous.  But I believe if someone can't pay cash for a purchase then one should wait until one can.  I pay cash for my cars (and for my house). Practicing responsible personal finance is the best thing anyone can do for oneself, especially if one aspires to retire at a reasonable age with financial comfort.

Lucky you. So your special and you were fortunate enough to be in that position.

Now for the rest of the world who are not so fortunate - things matter. Infinitime, new cars rarely have low interest rates - demand thing, so wait a few months and you will see lots of rates coming down. August, Sept and October are usually good months to buy.