Residual Value?
Thread Starter
Instructor
Joined: Mar 2004
Posts: 132
Likes: 0
From: Vancouver BC
Residual Value?
Hey guys,
When I finally do place an order on my c6 I am thinking about leasing it. What type of residual value do vettes usually have? Does the residual value increase or decrease depending on how loaded your car is or is it a set rate? Thanks for the info in advance!
When I finally do place an order on my c6 I am thinking about leasing it. What type of residual value do vettes usually have? Does the residual value increase or decrease depending on how loaded your car is or is it a set rate? Thanks for the info in advance!
Burning Brakes
Joined: Jun 2004
Posts: 1,200
Likes: 14
From: Playa Vista CA
This is a guess cause C6 resid's R not out yet but based on C5 you shoyuld see 50 to 53 percent for 36 months and 45-48 percent for 48 months. If getting z06 add 1 to 3 percent. THe problem is some of them banks have MSRP caps that can go beyond the options. Ex. Bank US offer 45% for 48 months caps at 48K. MSRP can be 49-52 on loaded 04 coupes. Mind thatg i am talking about MSRP price not cap cost!!!
Team Owner
Joined: May 2004
Posts: 82,175
Likes: 1,319
From: McKinney TX
St. Jude Donor '21-'22-'23-'24
Originally Posted by Joezone914
This is a guess cause C6 resid's R not out yet but based on C5 you shoyuld see 50 to 53 percent for 36 months and 45-48 percent for 48 months. If getting z06 add 1 to 3 percent. THe problem is some of them banks have MSRP caps that can go beyond the options. Ex. Bank US offer 45% for 48 months caps at 48K. MSRP can be 49-52 on loaded 04 coupes. Mind thatg i am talking about MSRP price not cap cost!!!
Last edited by Vette_DD; Jul 12, 2004 at 04:03 PM. Reason: specify C6 coupe
Burning Brakes
Joined: Jun 2004
Posts: 1,200
Likes: 14
From: Playa Vista CA
I am anxiously awaiting Resid # on the C6's cause i might use an outside leasing company instead of going thru the dealer. I wanna play the game and see offers best resid and best money factor. By outsourcing + my dealers 7 or 8 banks I just will get more bank offers.
Team Owner
Joined: May 2004
Posts: 82,175
Likes: 1,319
From: McKinney TX
St. Jude Donor '21-'22-'23-'24
Originally Posted by clem zahrobsky
unless you can write off the payments thru a business are you not just throwing money away with a lease?
Don't forget that at the end of the lease, my residual is expected to be about 50% of the original cost of the C6.
Last edited by Vette_DD; Jul 12, 2004 at 05:35 PM. Reason: spelling
Burning Brakes
Joined: Jun 2004
Posts: 1,200
Likes: 14
From: Playa Vista CA
Originally Posted by clem zahrobsky
unless you can write off the payments thru a business are you not just throwing money away with a lease?
Instructor
Joined: Apr 2004
Posts: 242
Likes: 0
From: Toms River NJ
Originally Posted by droptopc6
Hey guys,
When I finally do place an order on my c6 I am thinking about leasing it. What type of residual value do vettes usually have? Does the residual value increase or decrease depending on how loaded your car is or is it a set rate? Thanks for the info in advance!
When I finally do place an order on my c6 I am thinking about leasing it. What type of residual value do vettes usually have? Does the residual value increase or decrease depending on how loaded your car is or is it a set rate? Thanks for the info in advance!
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Melting Slicks
Joined: Jun 2000
Posts: 2,879
Likes: 157
From: Pleasanton CA
Originally Posted by Joezone914
This is a guess cause C6 resid's R not out yet but based on C5 you shoyuld see 50 to 53 percent for 36 months and 45-48 percent for 48 months. If getting z06 add 1 to 3 percent. THe problem is some of them banks have MSRP caps that can go beyond the options. Ex. Bank US offer 45% for 48 months caps at 48K. MSRP can be 49-52 on loaded 04 coupes. Mind thatg i am talking about MSRP price not cap cost!!!
Most Vette drivers seem to drive 12k or less a year, so this is what I base my response on.
A 3 year lease residual on an 05 Vette should be in the 60-65% range. Only with the imminent arrival of the C6 have residuals for C5's dropped. In late 2000, I got a 62% residual on my 01 Vette and that was by no means the best deal I had heard about.
Take a look at leasecompare.com and you will see that even C5's, which are no longer in production, can be leased with a 54% residual.
<50% is what you could get on some car with crappy resale like an Impala.
Burning Brakes
Joined: Jun 2004
Posts: 1,200
Likes: 14
From: Playa Vista CA
I hope you are right cause that would be great. I have just been hearing a lot of nonsense of banks getting more conservative with residuals because of returned vehicles not holding the expected value. If you are right my payments will be a lot lower than i am anticapating. I would love it if the car came in around $600 per month. Also if you know of any good outside leasing sources i would greatly appreciate it. To be able to compete with the dealers banks would be helpful. i have heard of Lineback in Dallas and i am exploring numbers with them. They say they have several lenders. We'll see!
Team Owner
Joined: May 2004
Posts: 82,175
Likes: 1,319
From: McKinney TX
St. Jude Donor '21-'22-'23-'24
Originally Posted by RichieRich
Take a look at leasecompare.com and you will see that even C5's, which are no longer in production, can be leased with a 54% residual.
