PatatasFritas

Hi forum,

I am thinking about leasing a '16 Z06 for 24 months, 10k miles per year.

Any ideas what lease rates have been and what sort of payments people are getting?

Thank you

PatatasFritas

I guess leasing is rare on this car?

TA

https://www.corvetteforum.com/forums...rchid=54481703

UmCanesZ06

I was looking into it as well. In a word, the rates suck. The payments are like $1300 a month. Might as well buy it

PLRX

PatatasFritas

That's unfortunate. I'll see what Kerbeck has to offer in terms of lease. I have no intention of spending more than $800/month on a lease....

UmCanesZ06

unfortunately, that's not going to happen. Individual dealers don't make up the residuals and money factors(interest rates). The bank does. Every dealer is gonna tell you the same thing.

jaden61

I was hoping to lease to avoid the upfront sales tax as I may not keep the car. But the 8k in taxes seem to be less of a ream job than the lease rate. So I put half down and financed the balance at exactly $800 month

Z0Sick6

I've always had good luck with leases if the monthly payment = the first 3 numbers of the MSRP. No money out of pocket except for 1st months payment, and 12K miles per year when I've done this.

So if you have an $85K Z06, it should lease out roughly at 850 a month give or take a couple dollars. Unfortunately because of the MF and residual that is not how it works for corvettes, z06 or stingray

davepl

I'd say a 2-year lease is a sucker's deal. I don't mean the OP is a sucker. What I mean is you're basically eating the very worst years of depreciation, and at the end you've got nothing to show for it except the option to buy the car out.

Sports cars and luxury cars depreciate like mad in the first year, so short term leases (or buying and trading for that matter) are a seriously expensive way to buy cars.

My grandfather (back in the 60s) used to get a new car every 12-18 months, and I have no idea if depreciation and prices were different back then but you'd be living a life of constantly eating the worst phase of depreciation with no letup, since you're right back into the next one.

That all said, if you're going to keep a car like this for only 2 years, a lease might be the right way to do it since your residual is now a known quantity. You just might not like that quantity!

furiousox

$800 a month is like an F8x M3 / M4, won't happen on a c7 z06 unfortunately, because I'd be in a c7z if this could happen!

PatatasFritas

I agree 100%. I will likely be relocating in 2 years and would like the option (at an obvious cost) to just let the car go vs buy it (again at a cost...) at that time without the hassle of selling.

From my research, the leases on Z06s are truly abominable and unrealistic for me ($1300 for 36 months).

I am either going to have to figure out if I want to go ahead and buy or hold off for now.

jaden61

Well, you know what your hard costs are. So the other option is when ready to move on or turn the car in, you may be able to sell for more than the residual and recoup some that way.
I have done that through Carmax luckily.

UmCanesZ06

My 2016 M4 is $849 a month for 36 months. it was pretty much the same price as a Z06. That was with nothing out of pocket by the way.

PatatasFritas

This is what I thought I'd be able to do. Wishful thinking

jaden61

That's at $70k

TRANS DAMM

What was the sticker on the car? Rates got a lot worse over the last 4 months for the Z. And the 3lt taking the most beating

UmCanesZ06

and I'm getting the Z06 for 66k after 10% msrp and 6k in positive equity on my trade and it's still 1200 a month for 2 years. it makes absolutely no sense. I've bought/leased a lot of cars and have never seen something as ridiculous as trying to lease a z06. the difference in the residual and what I'm getting the car for is about 18k or so. I told them I wanted to do a one time pay. at 18k plus tax and money factor, they said my one time pay would be 32k. that still worked out to $1200 a month. its mind boggling. Maybe the finance guys at chevy dealerships don't know how to figure a lease, I don't know.

UmCanesZ06

which car? M4 was 70k and the Z06 is 80 and change but I'm getting 10% off that and 6k in trade equity.

Doc750

you can get a zero down, ~850ish lease on a base stringray