Leasing a Vette
Thread Starter
Instructor
Joined: May 2006
Posts: 160
Likes: 0
From: Virginia Beach VA
Leasing a Vette
Anyone have any experience leasing a Corvette? I am leasing this time around but am still considering doing some small upgrades, i.e. exhaust, maybe headers, tune, etc.
Is this a problem as far as would I have to return the car back to stock form when I trade it in? Or would it increase the value of the trade in?
Is this a problem as far as would I have to return the car back to stock form when I trade it in? Or would it increase the value of the trade in?
Melting Slicks
Joined: Jun 2005
Posts: 2,858
Likes: 1
From: Burlington County NJ
it will not increase the value. in my experience, as long as a modification is profesionally done, you can return the car with it. But i would still check with your dealer.
i cant help but wonder why you are leasing and doing mods to a leased car, but im sure u have ur reasons.
if u do a search, you will find that leasing a vette has been discussed before...
good luck
i cant help but wonder why you are leasing and doing mods to a leased car, but im sure u have ur reasons.
if u do a search, you will find that leasing a vette has been discussed before...
good luck
Anyone have any experience leasing a Corvette? I am leasing this time around but am still considering doing some small upgrades, i.e. exhaust, maybe headers, tune, etc.
Is this a problem as far as would I have to return the car back to stock form when I trade it in? Or would it increase the value of the trade in?
Is this a problem as far as would I have to return the car back to stock form when I trade it in? Or would it increase the value of the trade in?
Pro
Joined: Feb 2006
Posts: 632
Likes: 0
From: KINGS PARK NY
Anyone have any experience leasing a Corvette? I am leasing this time around but am still considering doing some small upgrades, i.e. exhaust, maybe headers, tune, etc.
Is this a problem as far as would I have to return the car back to stock form when I trade it in? Or would it increase the value of the trade in?
Is this a problem as far as would I have to return the car back to stock form when I trade it in? Or would it increase the value of the trade in?
This one I am planning on buying .........I put a supercharger on it
Leasing is the only way to go for me.....tax write off and God forbid it gets wrecked like the ZR-1, I can always just give it back............................great piece of mind
Le Mans Master
Joined: Oct 2005
Posts: 5,046
Likes: 884
From: Tampa Florida
Anyone have any experience leasing a Corvette? I am leasing this time around but am still considering doing some small upgrades, i.e. exhaust, maybe headers, tune, etc.
Is this a problem as far as would I have to return the car back to stock form when I trade it in? Or would it increase the value of the trade in?
Is this a problem as far as would I have to return the car back to stock form when I trade it in? Or would it increase the value of the trade in?
Thread Starter
Instructor
Joined: May 2006
Posts: 160
Likes: 0
From: Virginia Beach VA
Leasing for me turned out for the following reasons:
1. A little cheaper than buying outright.
2. I always trade my cars in after about 1 to 2 years, hardly anymore than that.
Leasing can increase your buying power, depending on several factors of course.
I know it sounds funny to want to lease and mod the car, but to be honest with myself, I'll never keep the car longer than 2 years as it is
Thanks for the input folks. I'll speak to my dealer, but nice to know most ppl here had no trouble with it.
1. A little cheaper than buying outright.
2. I always trade my cars in after about 1 to 2 years, hardly anymore than that.
Leasing can increase your buying power, depending on several factors of course.
I know it sounds funny to want to lease and mod the car, but to be honest with myself, I'll never keep the car longer than 2 years as it is
Thanks for the input folks. I'll speak to my dealer, but nice to know most ppl here had no trouble with it.
Thread Starter
Instructor
Joined: May 2006
Posts: 160
Likes: 0
From: Virginia Beach VA
Burning Brakes
Joined: Aug 2006
Posts: 877
Likes: 0
From: Helotes Texas
I leased one Vette in my life, I found myself neglecting the car. Buying for me keeps me intrested.
As for mooding, as you can read there seems to be a difference in opinions.
Talk to your dealer/service adviser at purchase time.
As for mooding, as you can read there seems to be a difference in opinions.
Talk to your dealer/service adviser at purchase time.
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Instructor
Joined: Jan 2006
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From: el sobrante ca
lease
i leased my 06 c6 z51 coupe (sticker about 50k) for 48 mths, only $1000 up front and including warantee extention to 48 mths for $750 /mth.
in my analysis this is almost exactly the same total cost as buying and selling in 48 mths. but the lease is easier for my tax write off & i don't have to worry about how much my HPDE activities will depreciate the car. and of course, the cash flow is dramatically better.
2nd Gear
Joined: Mar 2007
Posts: 2
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i leased my 06 c6 z51 coupe (sticker about 50k) for 48 mths, only $1000 up front and including warantee extention to 48 mths for $750 /mth.
in my analysis this is almost exactly the same total cost as buying and selling in 48 mths. but the lease is easier for my tax write off & i don't have to worry about how much my HPDE activities will depreciate the car. and of course, the cash flow is dramatically better.
in my analysis this is almost exactly the same total cost as buying and selling in 48 mths. but the lease is easier for my tax write off & i don't have to worry about how much my HPDE activities will depreciate the car. and of course, the cash flow is dramatically better.
Melting Slicks
Joined: Jun 2005
Posts: 2,858
Likes: 1
From: Burlington County NJ
Intermediate
Joined: Dec 2003
Posts: 38
Likes: 0
From: stanford ca
in my analysis this is almost exactly the same total cost as buying and selling in 48 mths. but the lease is easier for my tax write off & i don't have to worry about how much my HPDE activities will depreciate the car. and of course, the cash flow is dramatically better.
I'm confused, please explain the tax writeoff advantage I get with leasing over buying? Do you own your own businesses and are using that to write if off or this is something everyone benefits from?
Highflyer notes the total cost is about the same as if you lease, or buy and sell in the same period. Yes this is true, but that is the purpose of a lease as I understand it - leasing might not be cheaper over a 3, 4 year period if we're talking about say buying a 3 year old car which has an extended warranty to 7 years. Then the additional depreciation really starts to hurt.
Point I'm debating with myself is whether to upgrade to leasing a new Z06 or get an '03 or '04 Viper that still has 4 years of warranty left. Will probably end up saving a lot of money if the Viper depreciates less...
Advanced
Joined: Dec 2006
Posts: 61
Likes: 0
From: Ocean County NJ
I have been leasing for many years. Negotiating with the dealer is essential. Started with 300ZXs' and went to a 1998 C5, a 2003 C5 and now a 2007 C6. It took me 3 hours to wrap up a good deal on the 2003. The simple mods I made on the 2003 were welcomed by the dealer. Always do your homework and walk into a showroom armed with data on your current vehicle and the new one. Low mileage and pristine vehicle condition are key elements for a good deal. Before I look at a vehicle, I make sure that the lease buyout is less than true market value. I always managed to get a grand or more for my old car, against the new one. Then, I put down a deposit as well. The amount depends on what monthly payment is in the budget. I never answer the sales question...how much do you want to pay per month? I start with sticker price and how much off. The 2007 was red tagged and was already about $5K off the sticker. We all know these basics and the wily sales reps. Being in control and not being controlled by the dealer, drives them nuts :-)
Le Mans Master
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From: LONG ISLAND
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Le Mans Master
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From: Currently somewhere in IL,IN,KY,TN,MO,AR,MS,AL, or FL
Le Mans Master
Joined: Nov 2001
Posts: 8,701
Likes: 1,893
From: LONG ISLAND
2025 C3 ('68-'73) of the Year Finalist - Unmodified
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2023 C3 of the Year Finalist - Unmodified
It has nothing to do with the dealer, or "PLACE" as you put it the bank owns the car, not the dealer.
GMAC is GMAC & same rules apply all over to every lease turn in !!
FACT !!!
Burning Brakes
Joined: Oct 2001
Posts: 1,004
Likes: 102
From: Buffalo Grove IL
St. Jude Donor '11
WRONG AGAIN, NOOOOB WITHOUT A PROFILE:
