If you haven’t seen the new Chevy Malibu, it’s a great time to check one out. The new models have almost no similarity, either superficially or mechanically, to the rather drab Malibus of the late-90s to late-2000s. The current models of Malibu are sleek, stylish and, depending on options, extremely fast.
The interior is also considerably revamped from prior generations of the car. The interior features considerably more space than older models and the driver’s and passenger seats face one of the most sophisticated and aesthetically pleasing dashboards of any car on the road today. This is a car that looks and feels like something that costs three times as much.
The Malibu comes with a 160 horsepower, 1.5 liter engine. By producing so much power out of such a small-displacement engine, the car gets up to 36 miles per gallon on the highway and an incredible 27 miles per gallon in the city. It can go from zero to 60 in 8 seconds, a stunning time for such a tiny engine.
But one of the things that is most impressive about the Malibu is its interior styling. This is where you will notice the most striking differences between newer Malibus and those those from the late-90s to late-2000s. The cabin has been completely redesigned. It features a large touchscreen display, which uses Ford’s Sync 3 infotainment technology. The driver looks directly at large, easy-to-read analogue gauges. There are tasteful chrome accents throughout the interior. The Mailbu also has available leather seats, which can add significantly to the upscale feel of the car.
But even without leather, the new Malibu completely eliminates the cheap feel of older models. Everything about the car feels top-quality, from the knobs to the steering wheel and the seat controls, like what you’d expect in a car costing tens of thousands more. This is a car you almost have to test drive to believe how far it has come in the last decade.
Many people view leasing, rather than owning, as something they would never consider. The biggest reason is the inability to own the car, making monthly payments with essentially no way to recoup any of that investment back by selling the vehicle. However, for most people who have no experience in car sales, this is often faulty reasoning.
Cars are some of the most steeply depreciating assets that exist. The typical new car will lose 10 percent of its value, the second it drives off the lot. This means that the typical car buyer can easily end up building less equity in the vehicle than the amount of depreciation, that it, they can end up underwater on their car, owing more than it’s worth.
Another issue is that most people have only the vaguest understanding of the process of selling a car. In fact, the majority of car owners end up trading in their old cars for a new one, at a dealership. This is generally a terrible deal for the owners. They would have been better off leasing.
A typical lease on a new Malibu costs just $200 per month. By contrast, a bank loan on the same car may have monthly payments as high as $700 per month. A lease also entails only a couple hundred dollars in drive-off expenses, whereas a bank loan may require thousands of dollars as a down payment.
For the money-conscious consumer, leasing a new Chevy Malibu will often be a far superior option than buying one.