Greg00Coupe

Car is in route time to round up some money for next week......

Below is a lease quote from my dealer. Not a GM lease he claims they are not released yet...... I still plan to buy but wanted to look at leasing.

I ran a US Bank lease with $1,246 out of pocket and our selling price of $59,485. A 12,000 mi yr lease for 36 mos is about $905 a month. I was pleasantly surprised by that payment frankly.



Money factor is .00234. Residual is 59%.

DRLC5

Wow I got a better deal on my 2012 CTS V with a MSRP around 72k? This was back in 2012.

BIg Wash AZ

Leasing or buying, the art of the deal is the same. Lessors will be more or less flexible on terms. Work it just like a standard purchase checking multiple leasing sources. A better deal is out there.

a63vette

Thanks for posting, considering its a brand new car with no incentives that's not awful. .00234 equates to an interest rate of about 5.6%. Most great leases have money factors that equate to an interest rate of less than 1 percent combined with incentives reducing the capital cost. Id assume this deal is based on MSRP so save a dealer willing to take a discount,
I can't see this deal getting much better anytime soon.

tcbrazil2012

Lol hell my $75k M3 was $15k more than your MSRP and my lease payment is $650 (only $3k down, 61% residual, 36 months)

c5vette73

Does the $905 include sales tax?

cbboarder

One might be able to buy down the money factor by putting down the max security deposits. Security deposits are refundable at the end of the lease. Some manufacturers allow up to 12, not sure what GM allows.

Joezone914

The residual of 59% is really good for 36/36,000 especially since it's an outside bank and not subsidized buy manufacturer. The APR at 5.6% is a little high and affecting the payment. I usually hope to get .00165-.0019 or 3.96-4.56% Not sure what your final price was so can't comment on the payment.

DRLC5 response is correct as well as I leased a CTSV Black diamond in 2011, but that is because MSRP was 72K but we got the car for 60K. The residual from cadillac was lower but the money factor was a little better(.0019).

Word to the wise is never ever lease through Ally if there is a chance you will want to trade out early. Financing is fine but never lease from them. They actually have two buy outs. I actually learned this a month ago. Went to trade the CTSV on new 991 lease. We were offered $2500 more than our buyout from porsche, but when they called Ally for the buyout, the buyout was $8k more than we were quoted. We then tried selling the car to carmax and same issue. Carmax verified that Ally and Audi financial both do this on leases with low milage trades as they want the car rather than dealer getting it.

Luckily porsche guaranteed the buy of the caddy and we took home the 991 that day and I wired my own money to ally, got the title and a week later porsche paid me for the CTS they took.

Screw ALLY aka GM financial.

Also, if you are gonna finance, look into becoming a member of Penfed.org. .99% up to 48 months and 1.99% up to 60 months. I have used them on autos and was happy with them.

c5vette73

Not possible.

Anyway, it's a BMW. No comparison to a vette!

DRLC5

Really, Ally treated me all right two years ago with a early buy out/trade. Maybe they have changed? I am currently with Ally again and I was going to trade out a few months early. I hope they don't play this BS.

Nyvetteguy007

I'm hearing more and more good things about PenFed....

lve2xlr8

Is there a GM lease program forthcoming or is this the best we get? A little disappointed with these numbers.

Sin City

Doesn't sound that great to me. Will the car depreciate 40 grand in 3 years? I sure hope not.

Joezone914

It depends how early you are trying to get out and current milage. We got out at 24 on a 36/36,000. When you ask for buyout they just give it to you. When dealer asks they request current mileage to evaluate price. The car had 13k miles at 24 months so they gave dealer a $8k higher buyout. Since in a lease they actually own the car they can do what they want. I learned Audi does this as well. It's not as big a deal a few months before but if mileage is low on your car they want the car turned in to them so they can sell it. But with low miles and a few months out they might also let you turn it in early and forgo the payments. Also if you step into another ally lease that might help as well. In this case we ditched GM/Ally for the P car. Lets just say the wife was pissed and the ctsv was the last gm product for her at least for a while. I'm toying with the idea of 991 turbo but I have had nothing but vettes since 94 and currently love the zr1 so not sure yet.

Gr8ful

Navy Fed. Credit Union.

$65k for 72 months at 1.99. Payment $9xx.
Best money I could find.
Applied last online, check ready this morning.
Problem: My C7 is only at 3400

markmatthews

Purchased 5 cars through them, would recommend them to anybody

Greg00Coupe

Thanks you guys are great. I have been out of leasing for many years and was not sure. This I do know........ I want to dump this car in 2 or 3 years...... retire and get another C7 or whatever.

Based on financing alternatives, the trade etc. A payment would be $725.

I don't know if the 905 included tax. I don't need 12 K miles unless they will pay me for underusage....... LOL so at 10K at 10K a year I can probably get to $900 with tax.

To answer the sticker question the car was 61,985. I got 2,500 off thus the 59,485.

Man I don't know out of pocket for 36 months is basically a cash wash. If I lease I walk out with 33K for my trade...... a $900 a month lease on a new C7..... Take a hit if I come back to buy but for $900 just do it again.

DocHolliday

May I ask how you managed 2500 off? Good for you.

cbboarder

I mentioned this earlier but your best bet would be to buy down your money factor. As someone mentioned, your interest rate is approximately 5.6%. Let's assume you're able to put down 10 security deposits or $9000.00 (each security deposits equal your payment) the interest rate will drop to 3.9%. Basically your money factor reduces by .0007 for each security deposit. The reduced interest rate would save you approximately $70.00 a month or $2500.00 over the life of the lease. Last I checked, making over 25% on your money in pretty damn good.

I believe the lending company sets the max security deposits so you need to inquire with them. Also if it wasn't clear, security deposits are fully refundable.

Man, I hope my math is right.

Greg00Coupe

So my review of this opportunity ends like this........ slice it anyway you want....... it's still a 5.6% interest rate in this economy which is crazy. I bought another car last month used and got 1.5% from a bank. Plus I called around and it appears there are only 2 sources of leases these day...... US Bank or the manufactuers. GM will not have any better rates.

I sure would like to walk away from the car in a few years but will haggle a deal. Not fun but not that big a deal.

Doc re the discount.... long but interesting story. Short version someone on the Forum recommended a dealer who pushes 10 cars a year, I called him he offered the discount. Got lucky plain and simple.