Lease Help!!!!!
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Joined: Jan 2006
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Lease Help!!!!!
here is the whole situation, i just need to know if i am taking it in the rear on this deal.
looking to lease 2006 vy 2lt package.
trade ins-
97 coupe- i owe 14, trade in is "16500"
2005 pontiac g6- i owe 20, trade in "14500"
sales manager offered me.
60 month lease
38% residual
1500 down
payment 657/month?
is this a fair deal? am i getting killed. i dont know enough about how leases work, and i know this is the place to find out......
PLEASE HELP!
looking to lease 2006 vy 2lt package.
trade ins-
97 coupe- i owe 14, trade in is "16500"
2005 pontiac g6- i owe 20, trade in "14500"
sales manager offered me.
60 month lease
38% residual
1500 down
payment 657/month?
is this a fair deal? am i getting killed. i dont know enough about how leases work, and i know this is the place to find out......
PLEASE HELP!
Melting Slicks
Joined: Mar 2005
Posts: 3,335
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From: Buckeye Country OH
CI 6-7-8-9-10 Veteran
St. Jude Donor '05-'06-'07-'08
Originally Posted by VetteRack74
here is the whole situation, i just need to know if i am taking it in the rear on this deal.
looking to lease 2006 vy 2lt package.
trade ins-
97 coupe- i owe 14, trade in is "16500"
2005 pontiac g6- i owe 20, trade in "14500"
sales manager offered me.
60 month lease
38% residual
1500 down
payment 657/month?
is this a fair deal? am i getting killed. i dont know enough about how leases work, and i know this is the place to find out......
PLEASE HELP!
looking to lease 2006 vy 2lt package.
trade ins-
97 coupe- i owe 14, trade in is "16500"
2005 pontiac g6- i owe 20, trade in "14500"
sales manager offered me.
60 month lease
38% residual
1500 down
payment 657/month?
is this a fair deal? am i getting killed. i dont know enough about how leases work, and i know this is the place to find out......
PLEASE HELP!
I only buy, not a fan of leasing. I also would never lease for terms out of warranty.
That's my .02
Good Luck
Le Mans Master
Joined: Jan 2003
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From: AKA Harvey Mushman-I know just enough to be dangerous "Those who sacrifice liberty for safety deserve neither"- B. Franklin
Senior Member
Cruise-In V Veteran
I'm sorry to say it but you need to stop driving new cars that are putting you further and further backwards. Five years from now you'll have spent $41,000 plus whatever you've got into your current two cars and will be walking.
Race Director
Joined: Oct 2005
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From: I speak the truth. Harsh but accurate. The Woodlands Texas
St. Jude Donor '09-'10
You would be better off pounding slat than to take that offer. I would look at a 72 month purchase before I would lease.
Your 97- sell it on the forum or on the nett
You Pontiac- Take it to car max and see what they will give you for it.
You will be too far upside down to make it work.
Remember lease = Poo punched
Your 97- sell it on the forum or on the nett
You Pontiac- Take it to car max and see what they will give you for it.
You will be too far upside down to make it work.
Remember lease = Poo punched
Thread Starter
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Originally Posted by Armadillo
A little hard to tell. What's the total capitalized cost of the '06? Interest rate?
i got the corvette bug. i love this car!
Drifting
Joined: Sep 2004
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Rans98
700 a month can BUY you a C6 at 72 months, or very very close to it, sell yours private party on autotrader.com. You would be surprised how fast cars move on that site. I feel you would be much better off
I only buy, not a fan of leasing. I also would never lease for terms out of warranty
700 a month can BUY you a C6 at 72 months, or very very close to it, sell yours private party on autotrader.com. You would be surprised how fast cars move on that site. I feel you would be much better off
I only buy, not a fan of leasing. I also would never lease for terms out of warranty
NO LEASE!!! NO WAY!!!......... NOT FOR ME! I don't want to end up with nothing but a shoe box of receipts.
Safety Car
Joined: Jan 2004
Posts: 4,776
Likes: 142
From: North of Atlanta GA
St. Jude Donor '05
Originally Posted by madeouttaglass
I'm sorry to say it but you need to stop driving new cars that are putting you further and further backwards. Five years from now you'll have spent $41,000 plus whatever you've got into your current two cars and will be walking.
listen carefully. . .DO NOT LEASE!!!
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Race Director
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From: I speak the truth. Harsh but accurate. The Woodlands Texas
St. Jude Donor '09-'10
Originally Posted by VetteRack74
i got the corvette bug. i love this car!
In 5 years you will have SQUAT! You have to give it back. You are looking at paying 49K for NOTHING. YOU WILL NOT HAVE A RIDE AND WILL BE WALKING.
Leases are bad anyway you look at it. If you want to throw money away then perhaps a lease is a good thing. Any way you cut it you will loose in a lease, that is why the stealership loves them.
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You are in a no win situation with a dealership. They will make the loan work for them not for you. You will find you have picked up 5k+ from the other cars loaded on this loan. In a few months that same car you have the hots for will be 5-10k less due to the 07 models coming out. Get the cars sold privately and come clean to the dealership. Leasing is renting a car, what good is that. If you have to rent a car like a vette it's going to be a lot and you have nothing to show for it. There are plenty of c6's on the forums for sale as well and always remember the dealership isn't going to help you out other than sell you up the creek. You will never break the cycle with the cars if you move to that vette purchase, you will find yourself in the hole so deep and pray that you never get in a wreck as you will be paying a loan off for a car you used to have.
GL
GL
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Originally Posted by Green Jungle Boot
You need to chill and think about this. IF the dealer is letting it go at Invoice (it really means you are geting screwed on you trade) you will pay for it one way or another. Do you want to pay 657X60 months= $39420 you will pay plus tires and maint plus you will more than likely have to have additional insurance (some leases require it). Do not forget the mileage limitation and you can not perform any mods.....
In 5 years you will have SQUAT! You have to give it back. You are looking at paying 49K for NOTHING. YOU WILL NOT HAVE A RIDE AND WILL BE WALKING.
Leases are bad anyway you look at it. If you want to throw money away then perhaps a lease is a good thing. Any way you cut it you will loose in a lease, that is why the stealership loves them.
In 5 years you will have SQUAT! You have to give it back. You are looking at paying 49K for NOTHING. YOU WILL NOT HAVE A RIDE AND WILL BE WALKING.
Leases are bad anyway you look at it. If you want to throw money away then perhaps a lease is a good thing. Any way you cut it you will loose in a lease, that is why the stealership loves them.here is my take on this lease....i drive the car for 5 years. yes, i pay them 39K, i understand all of that. the payoff at the end is 18K. if i dont want it, i give it back, i didnt get NOTHING. i got to drive the car for 5 years. if the vette is worth more than the 18K residual ( which i am assuming it will be, i will sell it, payoff the bank what is owed, and take in the profit.
i agree leasing can be a bad idea on cars that dont hold their value too well. my take on it is that these cars hold their value incredibly well. ?
Melting Slicks
Joined: Mar 2005
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From: Buckeye Country OH
CI 6-7-8-9-10 Veteran
St. Jude Donor '05-'06-'07-'08
OK, Here is a very simple way to put it, I'm sure you know this, but here ya go;
The Dealer will sell you at RETAIL on theirs and give you WHOLESALE for yours. Simply put....NOT MONEY SMART. Sell yourself at retail.
I know you have the "fever" but don't let it get the best of you and your wallet.
The Dealer will sell you at RETAIL on theirs and give you WHOLESALE for yours. Simply put....NOT MONEY SMART. Sell yourself at retail.
I know you have the "fever" but don't let it get the best of you and your wallet.
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Originally Posted by Rans98
OK, Here is a very simple way to put it, I'm sure you know this, but here ya go;
The Dealer will sell you at RETAIL on theirs and give you WHOLESALE for yours. Simply put....NOT MONEY SMART. Sell yourself at retail.
I know you have the "fever" but don't let it get the best of you and your wallet.
The Dealer will sell you at RETAIL on theirs and give you WHOLESALE for yours. Simply put....NOT MONEY SMART. Sell yourself at retail.
I know you have the "fever" but don't let it get the best of you and your wallet.
the g6...i wasnt aware pontiac was going to be giving them away when i bought it....the resale value is friggin horrible.
either way i am paying 650 a month for 2 cars.....which i can absolutely afford, my take is if i am going to be paying 650, why not be in something that perfect.....
i owe 20 on the g6- i couldnt get more than 17 for it from a private seller, so i am losing 4K?
Melting Slicks
Joined: Mar 2005
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From: Buckeye Country OH
CI 6-7-8-9-10 Veteran
St. Jude Donor '05-'06-'07-'08
Originally Posted by VetteRack74
i owe 20 on the g6- i couldnt get more than 17 for it from a private seller, so i am losing 4K?
Again, Good Luck, I hope it works in your favor
Team Owner
Joined: Jun 2003
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St. Jude Donor '06-'07-'08-'09
Originally Posted by VetteRack74
either way i am paying 650 a month for 2 cars.....which i can absolutely afford, my take is if i am going to be paying 650, why not be in something that perfect.....
with the lease you will own nothing.
Race Director
Joined: Jul 2005
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From: The Beautiful Greater Bay Area California
Originally Posted by Rans98
OK, Here is a very simple way to put it, I'm sure you know this, but here ya go;
The Dealer will sell you at RETAIL on theirs and give you WHOLESALE for yours. Simply put....NOT MONEY SMART. Sell yourself at retail.
I know you have the "fever" but don't let it get the best of you and your wallet.
The Dealer will sell you at RETAIL on theirs and give you WHOLESALE for yours. Simply put....NOT MONEY SMART. Sell yourself at retail.
I know you have the "fever" but don't let it get the best of you and your wallet.
Some sage advice already presented above. Bottom line: Do not take this Stealership deal for it IS NOT in your favor. Period! Good luck to you. 
Racer
Joined: Mar 2001
Posts: 463
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From: Parkville Missouri
Originally Posted by VetteRack74
i got the corvette bug. i love this car!
You need to SLOW DOWN! We all have the bug.....but you don't want to get bit now becuase as everyone else has stated its going to hurt in the long run.
Its your money and your choice but I would suggest you sell your two cars first outright. The Vette will definitely sell fast...I'm sure you could find plenty of buyers tonight for $500 more then the trade in offer.
The Vette will be there tomorrow and another one will be there next week.
Listen to what we are all saying...'07's hitting the lots....GM sales are down, Ford and others are offering 0% and rebates. GM will have to react and we GM owners need to learn for the past. They will discount the Corvettes in a month or two.
In my opinion one of the best parts about owing a Corvette is the fun you have during researching and buying it.
My .02
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Originally Posted by microday
You need to SLOW DOWN! We all have the bug.....but you don't want to get bit now becuase as everyone else has stated its going to hurt in the long run.
Its your money and your choice but I would suggest you sell your two cars first outright. The Vette will definitely sell fast...I'm sure you could find plenty of buyers tonight for $500 more then the trade in offer.
The Vette will be there tomorrow and another one will be there next week.
thank you for your reply and not making me sound like a damn moron. if i was a moron, i would have bought the car tonight without breaking things down in my head.
where i am sitting is this...the damn g6 is a lease that is 1.5 years old, so when its over i am not going to get crap for it anyway.....i could sell the vette privately, but then i have to pay the taxes on it, so doesnt it even out?
it wasnt my brightest idea to lease the g6, but i am in a way better place financially then i was a year ago, and can afford 650 in payments.
i love this car....the color, everything about it.......the residual on will be 18k when the lease is up...
my options are...
sell it to pay off the buyout
give it back
assuming it will be worth more than 18k in 5 years, i would make money just the same as if i would have bought it? granted, not as much money...but something back. i have no ambition to pay a car off and keep it forever. plus i am getting rid of a lease that is not going to pay off either way.
i think i might try and get the guy to erase the 1500 down. see how bad he really wants to sell the car.
Listen to what we are all saying...'07's hitting the lots....GM sales are down, Ford and others are offering 0% and rebates. GM will have to react and we GM owners need to learn for the past. They will discount the Corvettes in a month or two.
In my opinion one of the best parts about owing a Corvette is the fun you have during researching and buying it.
My .02
where i am sitting is this...the damn g6 is a lease that is 1.5 years old, so when its over i am not going to get crap for it anyway.....i could sell the vette privately, but then i have to pay the taxes on it, so doesnt it even out?
it wasnt my brightest idea to lease the g6, but i am in a way better place financially then i was a year ago, and can afford 650 in payments.
i love this car....the color, everything about it.......the residual on will be 18k when the lease is up...
my options are...
sell it to pay off the buyout
give it back
assuming it will be worth more than 18k in 5 years, i would make money just the same as if i would have bought it? granted, not as much money...but something back. i have no ambition to pay a car off and keep it forever. plus i am getting rid of a lease that is not going to pay off either way.
i think i might try and get the guy to erase the 1500 down. see how bad he really wants to sell the car