C7 lease residule
Le Mans Master
Joined: Sep 2007
Posts: 5,526
Likes: 16
From: Mechanicsburg Pennsylvania
C7 lease residule
OK - here's a couple tips for your future lease inquires . .
The future value of a vehicle in terms of percentage of depreciation of its initial value, is called "residual' not residule
Examining your options is to "weigh' them, not way them
OK - here's a couple tips for your future lease inquires . .
The future value of a vehicle in terms of percentage of depreciation of its initial value, is called "residual' not residule
Examining your options is to "weigh' them, not way them
Melting Slicks
Joined: May 2006
Posts: 2,936
Likes: 260
From: Westchester County New York
Race Director
Joined: Jun 2001
Posts: 10,084
Likes: 3,056
From: CA
Race Director
Joined: Sep 2013
Posts: 11,825
Likes: 2,476
From: Ft Lauderdale
Tech Contributor
Believe it or not, reesiduals are baselined off a company called ALG - not GM...
https://www.alg.com/products/residual-values/
and if they they do lease, it usually happens about the time of release...If GM pegs it wrong, they stand to lose a lot of money. Remember the residual is the guess that GM is making on what the car is worth in 3 years, and above. If they miss, they lose zillions at the auctions.Nissan missed their residuals about 15 years ago and almost went under. They had a portfolio "under water", just like many homeowners.
So it'll be a bit before it's determined. Also because GM stall really owns the car when they lease, and they know they can retail and actually sell every one of these vettes, and be done with it, they may no offer a lease at all....
https://www.alg.com/products/residual-values/
and if they they do lease, it usually happens about the time of release...If GM pegs it wrong, they stand to lose a lot of money. Remember the residual is the guess that GM is making on what the car is worth in 3 years, and above. If they miss, they lose zillions at the auctions.Nissan missed their residuals about 15 years ago and almost went under. They had a portfolio "under water", just like many homeowners.
So it'll be a bit before it's determined. Also because GM stall really owns the car when they lease, and they know they can retail and actually sell every one of these vettes, and be done with it, they may no offer a lease at all....
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Melting Slicks
Joined: May 2006
Posts: 2,936
Likes: 260
From: Westchester County New York
Believe it or not, reesiduals are baselined off a company called ALG - not GM...
https://www.alg.com/products/residual-values/
and if they they do lease, it usually happens about the time of release...If GM pegs it wrong, they stand to lose a lot of money. Remember the residual is the guess that GM is making on what the car is worth in 3 years, and above. If they miss, they lose zillions at the auctions.Nissan missed their residuals about 15 years ago and almost went under. They had a portfolio "under water", just like many homeowners.
So it'll be a bit before it's determined. Also because GM stall really owns the car when they lease, and they know they can retail and actually sell every one of these vettes, and be done with it, they may no offer a lease at all....
https://www.alg.com/products/residual-values/
and if they they do lease, it usually happens about the time of release...If GM pegs it wrong, they stand to lose a lot of money. Remember the residual is the guess that GM is making on what the car is worth in 3 years, and above. If they miss, they lose zillions at the auctions.Nissan missed their residuals about 15 years ago and almost went under. They had a portfolio "under water", just like many homeowners.
So it'll be a bit before it's determined. Also because GM stall really owns the car when they lease, and they know they can retail and actually sell every one of these vettes, and be done with it, they may no offer a lease at all....
You can lease a car through companies like ACS where you get approval for a lease and establish a max price for the car...you then go into a dealer and buy the car at the best price that you can and the leasing company pays the dealer for the car and your lease is based on what the car actually cost etc...
I have used them before and contacted them today, they will get back to me when they have the residuals...I will keep everyone posted...
Race Director
Joined: Sep 2013
Posts: 11,825
Likes: 2,476
From: Ft Lauderdale
Tech Contributor
GM doesn't own the car, the bank doing the leasing does...
You can lease a car through companies like ACS where you get approval for a lease and establish a max price for the car...you then go into a dealer and buy the car at the best price that you can and the leasing company pays the dealer for the car and your lease is based on what the car actually cost etc...
I have used them before and contacted them today, they will get back to me when they have the residuals...I will keep everyone posted...
You can lease a car through companies like ACS where you get approval for a lease and establish a max price for the car...you then go into a dealer and buy the car at the best price that you can and the leasing company pays the dealer for the car and your lease is based on what the car actually cost etc...
I have used them before and contacted them today, they will get back to me when they have the residuals...I will keep everyone posted...
Last edited by Glen e; Sep 13, 2013 at 03:28 PM.
Burning Brakes
Joined: Mar 2013
Posts: 1,033
Likes: 343
It can be anywhere from 45-56% of the msrp of the car. Just ask your dealer what it is for a 2013 and you can safely add 2-4% above that. I know some will say I have no idea but it will fall in to that bracket. My guess is that the resid. for a 3-36K will be mid 50's.
Using 55% resid and .00231 mf you are looking at 1200 before tax.
Using 55% resid and .00231 mf you are looking at 1200 before tax.
Burning Brakes
Joined: Mar 2013
Posts: 1,033
Likes: 343
BTW if you dont know how to calculate a lease, here is the formula
Purchase price - residual value / lease term
+
Purchase price + residual value x money factor
= Pre tax payment
The purchase price is the negotiated price of the car, the residual is based on the MSRP, NOT the negotiated price.
Purchase price - residual value / lease term
+
Purchase price + residual value x money factor
= Pre tax payment
The purchase price is the negotiated price of the car, the residual is based on the MSRP, NOT the negotiated price.
Melting Slicks
Joined: May 2006
Posts: 2,936
Likes: 260
From: Westchester County New York
I hope they peg the residual sooner rather than later, wouldn't they use the 2013 and their experiences with C6 values as a guideline?
Race Director
Joined: Sep 2013
Posts: 11,825
Likes: 2,476
From: Ft Lauderdale
Tech Contributor
Burning Brakes
Joined: Mar 2002
Posts: 994
Likes: 81
From: Lake Havasu, AZ.
I am waiting to see what Pen Fed prices the C7 at using their " money saver"
purchase with a balloon payment at the end....
Works like lease payment, in the sense that it is about 1/3 less than outright purchase, but is a purchase with a interest rate currently of 2.49 %, no lease money factor (used to calculate interest cost) is going to beat that....
purchase with a balloon payment at the end....
Works like lease payment, in the sense that it is about 1/3 less than outright purchase, but is a purchase with a interest rate currently of 2.49 %, no lease money factor (used to calculate interest cost) is going to beat that....
Intermediate
Joined: Sep 2013
Posts: 34
Likes: 0
From: Chicago IL
It wouldn't be smart to lease a new model Vette. Often the residual is very low at the start. around 50~%. The Vettes will hold their values within the 1st few yrs. Unless of course you plan on leasing past 24mos.
On a side note: I think Porsche Financial has the best residual leases! Usually 74~% on a 24/mo lease.
On a side note: I think Porsche Financial has the best residual leases! Usually 74~% on a 24/mo lease.
Melting Slicks
Joined: May 2006
Posts: 2,936
Likes: 260
From: Westchester County New York
I am waiting to see what Pen Fed prices the C7 at using their " money saver"
purchase with a balloon payment at the end....
Works like lease payment, in the sense that it is about 1/3 less than outright purchase, but is a purchase with a interest rate currently of 2.49 %, no lease money factor (used to calculate interest cost) is going to beat that....
purchase with a balloon payment at the end....
Works like lease payment, in the sense that it is about 1/3 less than outright purchase, but is a purchase with a interest rate currently of 2.49 %, no lease money factor (used to calculate interest cost) is going to beat that....
Is that a credit union that needs to be joined? Do they do business in all 50 states?
