taxdr1965

Anyone have any info on lease rates? Looking to lease rather then buy, but I know in the past vettes have not leased well. Maybe it will change with the new model?

Ozzy12

Past Vettes have leased well if you bought them right. Quote on a 2013 1SA 427 with a 78k MSRP with 0 down..$799 a month/39mos/10k per year.

I just hope C7's follow that pattern and offer dealers enough margin to be able to make those deals.

SD1

As a reference point, I leased my C5 for fees down 36/12k for $750 mo

taxdr1965

Those numbers are not bad at all

427Z0SX

I bought my C6 Z06, but leased a 2002 C5 Z06. Terms for the C5Z was $850/month for 12,000 miles a year, for 3 years. Down payment was something less than $2000. I did this in Oct 2001.

Dave@Ciocca

Yes but that is with a discount of $12,000 to $14,000. If you sold that 427 at MSRP it would be another $400 per month!

Dave

LS6GXP

400.00 seems like a lot for only 12-14k more???

Never-Enough

Ozzy12

Understood, although I think full msrp is closer to $280 more, and that's why I'm saying I hope GM doesn't revise the margins on these cars. You know more than anyone that in order to not pass on higher Msrps (which would be a pr problem) a lot of Chevys newer products are getting higher invoice prices resulting in less holdback and higher transaction prices (no one except dealers truly see that side). I just hope the Vette does not follow that pattern and that the days of the 10k+ discount aren't a thing of the past. The joy there too is that that 10k is a complete cap reduction with the residual still figured off of msrp.

rbartick

$31,161 to rent the car for 3.25 years? That does not sound like a good deal to me.

Dave@Ciocca

Average movement on a lease payment is $30 per $1, 000 movement in price. $14,000 is probably over $400 more especially when you add tax on that.

Ozzy12

You are one of those guys huh? Just kidding with ya, but In all seriousness though, here's the way I see it:

I'm 28 months into my 2011 C6 Coupe that I got a 10k discount on. If I went to trade it today best I could make is the balance of my loan plus about $1,500. So I would have lost $21,000. Eleven months from now that number will probably be worse. Leasing just locks in your loss and says it can't be worse than X. Them at the end of its worth more than the residual, you can buy it outright: if not walk away.

rbartick

Yes, and I don't agree with your assessment. I guess you can justify it if you have to have a new Vette every 3 years, you don't mind taking a big loss each time, and you cannot sell it privately.

Ozzy12

Exactly, and if you decide that you want to keep it, than you just buy it out at the end. At that point you aren't going to wind up paying more money than what you would have if you'd financed it from the beginning, and you got to keep more money in your pocket for the first three years why you decided if you want to keep the car. Easily saves you $200-300 a month in payments. And let's face it most luxury/sports car buyers switch cars every 1-3 years: this buyer is typically after the biggest, best, fastest thing they can justify to have, and that changes daily with marketplace innovation, so the itch usually comes back within at least six months of a new acquisition.

Apart from just personal choice, there have been plenty of cars that I have bought thinking I would keep them forever only to turn around and part ways with them a year to two years down the road because they had frequent issues or something was starting to go. With the bumper to bumper warranty ending at 3 years, it really is the ideal time to part ways. My current car, if I had leased it, I would have probably bought it at the end, but that would be the first one that I'd hold onto; and who knows something could go wrong with it tomorrow and I possibly wouldn't want it any more: I love the car today but tomorrow you never know.

Yes you loose money, but if the loss is worth it to you, well then, you can't take it with you, so you might as well enjoy the fruits of your labor. If you cannot stomach the loss and want to drive the same car for at a minimum of five years, then yes buying is the best option for you. Its kind of like modding your car, you'll be lucky to get $0.05 on every dollar you spend; doesn't mean you should not mod, it's just you've got to accept the financial risk of it and it has to be worth it to you, you aren't improving an investment, you are truly just spending money for your own pleasure. I would say 99% of the things Corvette owners do related to their car is steeped less in financial planning and more in passion and love of the cars. Leasing is under the exact same train of thought.

I would also argue that leasing can insulate you from loss and even provide a means for equity. Leasing a car in 2008 for example was great come 2010 because you had gotten a highly subsidized lease and GMAC was stuck with the loss on the inflated residuals. On the other hand, if you drive a car a minimal amount and the car is worth more than the buyout at the end of the term you can trade it into a dealer and pocket the difference: I've personally seen folks benefit 10-20k from this, especially on Porsche or Audi. You also aren't stuck with the car for three years, you can trade it in at anytime just as if you were financing it. Typically if done around the 12-18 month mark you can come out with only about a 500-1000 negative. And, lets not forget that whether you lose money because you expense a lease, or you acquire an asset with cash even and depreciate it, you are still loosing money; it's just two different ways of showing it. Your net balance sheet implications are identical.

Leasing isn't for everyone, I just think it's one of those subjects that everyone has to hear all the pros and cons and then make their own decision on. There are some folks who I strongly advise against it, others I think its the way that makes sense.

rbartick

I disagree.

I've owned mine since 2002.