vette_guy_2020

Hello - I'm trying to figure out how much c7's are leasing for and was hoping I could get some feedback from you guys.

Specifically, I'm considering a 36 or 39 month lease on a base automatic with 15k miles/yr, only paying ttl up front?

0WildVettes

I don't see dealers doing leases for a while. My dealer wasn't.

2013s were $750 and are now $599. My guess would be AT LEAST $800, probably closer to $1000.

Glen e

no residuals set yet....

vette_guy_2020

really? I've never seen an automaker *not* offer a lease option for their vehicle? Is anyone else here finding this to be the case?

I won't need to place my order until the 2015 model comes out so maybe dealers will be leasing at that point?

runutzzzzz

You can lease ANY car either with the MFG or a Bank. I'm sure there's some bank out there that has rates. I'm sure they will not be competitive at first because of the initial demand of the C7, I'd expect a res around 50-55% 36 m 12k with MF of .002-.004. All just a guess.

Glen e

As long as they are in a sold out position (less than 30-45 days supply) GM will not lease, offer incentive or throw a good retail rate on this car for a long time. They don't have to. They will sell everyone of these for at least a year with you getting your own money and giving it to them (the dealer). Right now they are selling waterfront property.

0WildVettes

Have you ever ordered a new Corvette launch model with a 6-9 month backlog of customers wanting to buy them?

On the config section of GM's website there is no "lease estimator" option. Check the other models and you will see the difference.

SCM_Crash

I'd imagine with a backlog like this, leases would make sense because the cars would come back ready for more customers.

vette_guy_2020

hmm - Sounds like new vette models may be tough to lease during their first model year.

I'm guessing that the 2015 MY will start getting produced around June of next year? Seems like GM should start offering leases for the 2015 MY?

Can anyone speak from experience on this based on the intro of the C6 vette?

Glen e

again, you can't look at history...GM will only offer leases/incentives when the days supply is more than 45-60 days - meaning all the sold customer orders are filled, and dealers have them on the lots...that may be next year or later on...just watch dealer stock. When they are lined up, they'll be leasing....

vette_guy_2020

Thanks for the insight, Glenn. I think people are willing to pay a high price for the stingray right now, because it's a brand new model. High price includes being willing to buy instead of lease, since so many people have become accustomed to leasing these days.

However, I'm guessing that by MY15, GM may start running out of buyers who are willing to shell out $50-60k to outright own a stingray. And, of course, 6 months from now, GM should be cranking out a steady stream of new stingrays, so there should be more availability.

Does this seem like a reasonable assessment, or do you predict that GM won't be leasing stingrays by MY15?

Glen e

that's reasonable...but the price of the C7 for what you get is pretty amazing, it may stay sold out for a while - if the QC holds and proves it's a good buy and reliable car...like I said, watch dealer stock for the answer...

Michael A

This is not great news. I wanted to do a lease this time for business purposes. I expect the C7 to be on allocation for quite some time. I remember when I got my C5 in 2000, they were still on allocation, on the fourth model year!

What's the chance of ordering one, as if you are doing a purchase, and then having a bank or independent leasing company do the lease?

Michael

runutzzzzz

There's no reason GM wouldn't do a lease, they just won't be subsidized.

Money is money, whether with outright financing or leasing they make interest on the money. They will have a high MF on the leases and collect more interest as well as a lower residual.

Even IF GM didn't offer leasing, there are plenty of other banks that will offer to lease it. I don't think a lot of people know that the MFG is not the only source of leasing.

I can guarantee that you will be able to lease the C7 immediately.

GE-Moe

So I ran a 24/mo lease using some data that's an educated guess.

Car MSRP: $63k
Agreed Sale Price: $63k
Net Capitalized Cost: $63k
Down payment: 0$
Term: 24month
Residual: 60% (residual value at end of lease is $37,800)
Money Factor: .00240 or ~5.76%

Monthly Payment: $1291
Tax, title & reg not included in payment

Other Residual value options:
If 65% than monthly payment is $1163
if 70% than monthly payment is $1044

I'm hoping other dealers can chime in a bit. Not sure what GM's standard MF is on non incentives leases and what the usual Residual is.

Glen e

Of course GM COULD lease...but the implied is a subsidized lease that they want no part of with the current market condition...others will lease but it will start with the leasing company paying the dealer at least MSRP for the car...work your numbers from there.....