leasing a C8
Melting Slicks
Joined: Jun 2013
Posts: 2,599
Likes: 1,593
Finance is a decision.... we always lease a new BMW Convertible for my wife.... we want a new car with a warranty, BMW finance offers very attractive lease terms (e.g. high residual)...and believe me, an old BMW with no warranty is a curse...
Now GM Finance deals with people who have mediocre to poor credit... their finance rates are high, and residuals are low, and 3rd party lease firms will screw you.... if you have an 800 credit score always buy.... Corvettes typically out-perform most cars on resale value... its just the smart play.
Now GM Finance deals with people who have mediocre to poor credit... their finance rates are high, and residuals are low, and 3rd party lease firms will screw you.... if you have an 800 credit score always buy.... Corvettes typically out-perform most cars on resale value... its just the smart play.
Burning Brakes
Joined: Oct 2019
Posts: 776
Likes: 432
From: Florida
I just walked away from a Jeep Cherokee lease 13 months early as the lease buyout (residual + remaining payments) = the ACV. On a C8 if you tried to walk away early it could be ugly. Say the car is $70,000 and it has a 63% 36 month residual. So you want to try and flip it three months in. If your residual is $44,100 and you have $1,000 a month payments (36-3=33), to sell the car to someone else you would have a lease buyout of $77,100 ($44,100 + $33,000). If selling prices are still way over MSRP you may get out with your skin, but you're in pretty deep water too since nobody knows how long it will last, plus you just gave away $7,100 of your flip profit.
