Can you Lease a new vette?
10-02-2006, 10:23 PM
#5
Melting Slicks
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Originally Posted by AFR VETTE
Why wouldnt you be able to, you can lease any car. In fact mine is leased. Ill get a new one every 3 years or so.
Every 3 years I will be enjoying that new car smell
.
10-02-2006, 11:40 PM
#7
Heel & Toe
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I looked at leasecompair.com and I really like what I see. Is this the best way to go about getting a lease on line? Are there better sitess to look at for a leases on a new vette. I just might go this route in stead of buying a C5. Any help would be great thanks.
10-03-2006, 04:13 AM
#10
Le Mans Master
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Cruise-In VIII Veteran
Originally Posted by CQRT
I think yer getting yer chain yanked here guys . . . .
I call
I call
Welcome aboard, Tight Lines
10-03-2006, 08:10 AM
#11
Heel & Toe
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No chain yanking here I'm stupid for real. I just have never leasted a car before and was thinking with a sports car like a vette there may not be any advantage payment wize over buying like in the case of the mustang GT wear there was a 20.00 diffrents between a lease and buying payment. I can only handle about 750.00 a month and that looks like that could get me into a new vette. Is this accurate in the real world?
10-03-2006, 11:06 AM
#13
Race Director
Originally Posted by Tight Lines
No chain yanking here I'm stupid for real.
Originally Posted by Tight Lines
I can only handle about 750.00 a month and that looks like that could get me into a new vette. Is this accurate in the real world?
Smart Buy is similar to a "Lease" except you own the car, make a substantially lower payment than a straight buy since you're only paying on the part of car you're using, usually a 3 year term.
At the end of the SB term there's a "bubble payment" due for the remaining balance.
You can either finance the amount due through a bank of your choice or through GMAC, and/or trade-up & Chevrolet will take the car back & put you in a new one.
Great advantages to SB over lease (like higher mileage & you retain any residule value above what GM originally negotiated with you when you signed example).
Smart Buy was started for people like you who want to drive more car for less payment.
Sounds like it'd be well worth your time checking out.
10-03-2006, 11:31 AM
#14
Safety Car
Heck, you can lease any car available. Bugatti even has a special on the Veyrpn 16.4. I think it's only about 25,000 a month!
Not sure on length of lease and mileage, though.
Not sure on length of lease and mileage, though.
10-03-2006, 01:34 PM
#15
Burning Brakes
I'm looking into the same thing myself now. Here's the deal though, assuming you have good credit, a lease for a 3LT car is going to run in the neighborhood of $780-$800 for 48 months. I looked at that, and ran the numbers on a purchase, and if I up it to 72 months on the purchase, I can get payments in about $50 more than a lease. Yes, its two years more, but at the end of 4 years, I'd probably come out better on the purchase note and what I owe versus what the lease would give me. Leases sometimes just dont cut it. They say its the money factor rate along with the residual used. But, when you mulitple the payments out and account for the interest it just doesnt add up sometime.
For example: $800 lease payment x 48 months = $38400. The price of the vette negotiated was $49,000. So, in 48 month lease, I've paid all but 10,000 of the vette. Assuming about $5K of that should be interest, etc, it's just stupid at that point to consider leasing. Why? I don't understand because I think it should be: $49,000 purchase price. Residual after 48 months is 48% or roughly $26,000. That's a difference of $23,000/48 months + interest should be about a $550 payment. But, it never is. Its always $800 a month which means someone is making some money and it's not us.
For example: $800 lease payment x 48 months = $38400. The price of the vette negotiated was $49,000. So, in 48 month lease, I've paid all but 10,000 of the vette. Assuming about $5K of that should be interest, etc, it's just stupid at that point to consider leasing. Why? I don't understand because I think it should be: $49,000 purchase price. Residual after 48 months is 48% or roughly $26,000. That's a difference of $23,000/48 months + interest should be about a $550 payment. But, it never is. Its always $800 a month which means someone is making some money and it's not us.
10-03-2006, 02:34 PM
#19
Melting Slicks
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Originally Posted by BAD_TCR
I'm looking into the same thing myself now. Here's the deal though, assuming you have good credit, a lease for a 3LT car is going to run in the neighborhood of $780-$800 for 48 months. I looked at that, and ran the numbers on a purchase, and if I up it to 72 months on the purchase, I can get payments in about $50 more than a lease. Yes, its two years more, but at the end of 4 years, I'd probably come out better on the purchase note and what I owe versus what the lease would give me. Leases sometimes just dont cut it. They say its the money factor rate along with the residual used. But, when you mulitple the payments out and account for the interest it just doesnt add up sometime.
For example: $800 lease payment x 48 months = $38400. The price of the vette negotiated was $49,000. So, in 48 month lease, I've paid all but 10,000 of the vette. Assuming about $5K of that should be interest, etc, it's just stupid at that point to consider leasing. Why? I don't understand because I think it should be: $49,000 purchase price. Residual after 48 months is 48% or roughly $26,000. That's a difference of $23,000/48 months + interest should be about a $550 payment. But, it never is. Its always $800 a month which means someone is making some money and it's not us.
For example: $800 lease payment x 48 months = $38400. The price of the vette negotiated was $49,000. So, in 48 month lease, I've paid all but 10,000 of the vette. Assuming about $5K of that should be interest, etc, it's just stupid at that point to consider leasing. Why? I don't understand because I think it should be: $49,000 purchase price. Residual after 48 months is 48% or roughly $26,000. That's a difference of $23,000/48 months + interest should be about a $550 payment. But, it never is. Its always $800 a month which means someone is making some money and it's not us.
Leasing is not calculated the way your described above. I have a 3LT, A6 and factory chrome wheels and I used my GM employee discount.....and my payment is lower than what you outlined above. My term is 36mos/36Kmi with no money down.
10-03-2006, 02:58 PM
#20
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Originally Posted by Purdue
Leasing is not calculated the way your described above. I have a 3LT, A6 and factory chrome wheels and I used my GM employee discount.....and my payment is lower than what you outlined above. My term is 36mos/36Kmi with no money down.
Jim
