IwantmyC5

This is mostly for our supporting dealers, but everyone please chime in if you've had experience w/this. As some already know, I'm waiting on a decent chunk of money from an auto accident last year. Unfortunately, I don't know exactly how much I am looking at. I have 2 options...

1) Purchase used 98-01 C5 for cash.
2) Lease a new 04 while all these great deals are going on.

Here's the catch. I have horrible credit, and can tell any dealer right now that I would never qualify even for a cavalier...lol. So, is it possible to pay up front for a lease? Example : If I lease an '04 coupe or Z06 for the deals going on right now, can I pay cash upfront? In other words, if a 5 year lease would cost me roughly 30k, can I pay it all in advance and take possession of it regardless of credit, or am I poopie outta luck?

Thnx in advance to dealers, and anyone who's dealt w/stuff like this in the past.

speedy1

A lot of times even with bad credit, I've seen people put enough money down to still finance a car. But, it might take about $5000-$7000. Good Luck!
:flag

repo

I did a pre paid lease on an Expedition. Paid like 12k up front and drove it for 3 years.

It is possible for you to do, even with bad credit. The risk to the finance company would be if you are a skip risk, or maybe not carry ins. the whole way through. Give it a shot,,,nothing to lose. :thumbs:

IwantmyC5

ttt for the dealers to pay attentions..... :D

talwell_home

As the lease companies are technically selling you the car to use for a period of time they are still in a position of liability to you. All lease companies require credit approval regardless of the amount you put down. The funds you put down makes the decision different for them but unless you are paying 100% of the car cost, tags, title and all fees to buy it they are extending you a line of credit to cover the difference. I hate to say but you have no chance but to buy a used one for cash.

repo

not true,,,if he is a "slow pay", but will pay the entire lease upfront,,,has the same job and residence for x amount of years. He has a good chance of getting approved.

BuckyThreadkiller

If I had 30k cash laying around to spend on a car I'd be in a used C5 so fast it'd make your head spin. You can find a 2000 or 01 for that kind of money all day long.

That way at the end of 3 years you have paid the 30k but you still have an asset worth $12- 18,000. With the lease you have nada.

SDLong329

<<That way at the end of 3 years you have paid the 30k but you still have an asset worth $12- 18,000. With the lease you have nada.>>

---Just don't forget the difference in value between the 00 and 04 in a few years.

---Curious ... have any supporting vendors contacted IWantMyC5???

IwantmyC5

Not One. I guess they figure I'm S.O.L. too. Kinda disappointing though. Figured I'd at least get a bite from one. Oh well, just means my money will end up going to a used C5 from a fellow forum member, and not a used one on a dealer's lot..... :skep:

speedy1

Sometimes dealers (salesmen) dont want to do any work , they just want a lay down. Good luck. :flag

IwantmyC5

Thnx All. Looks like I don't have to worry bout any dealers not contacting me, at least for now anyway. My insurance is still refusing to pay out, and my lawyer is wanting to continue with a lawsuit. Grrr.... So, I have a feeling I will be left dreaming for at least several more months. :cry

Karl Johanson

What you are asking is not necessarily out of the question. A lot depends on the relationship between the dealer and the lender. What you are referring to is similar to a smart Lease Plus where the entire lease is paid up front. That is not the issue the way I read your post. An insurance settlement is the most difficult part as you have just realized in your latest post. There are many times that individuals think that they are fixing to get an insurance settlement that never comes through. My advice would be to get your settlement in hand and then if you would like for someone to try and assist you, I would be happy to do so. Until the money is available to you, you will be spinning your wheels. Or should I say that you will not have any wheels to spin. Anyway, I am sure there are plenty of dealers that would be happy to try to assist you. The big issue is the fact that the lender still has a liability when you lease the vehicle but as most have said CASH does indeed talk. Whether you chose to buy or lease, I am sure there is a lender that would be willing to take a chance with that much equity in the vehicle.

Just my two cents.




[Modified by Karl Johanson, 6:59 PM 4/1/2004]