Now that the car can be found at msrp or less, why cant you lease it, I Know a lady that just leased a new 08 gt convertible, fully loaded, 39k sticker and she put 4k down and her payment was 311 a month. I know some have asked this question before but that was when the cars were way over the msrp. Has anyone leased one lately and how much down did you have and whats the payment like? ( if you dont mind me asking) Iam looking at a new ls3 c6 or gt500 for my next car. I know someone who just leased a new o8 vette for 500 a month with 4k down. Which is less than the payment I have now. Btw that ls3 vette is stock and trapping 117.8 with 2000 miles on it, Its a hell of ride but I like the gt 500 as well.
Lease a gt500?
- Thread starter redsap05
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i have been told by several wealthy individuals never lease a car, even in a write off situation. the main reason is that leases do not fall under the disclosures regulations like regular loans do. or hidden fees and other tricks do not have do not have to disclosed at time of signing.
the other big reason is that dealers will make more money on a leased vehicle than that of a straight financed sale. i was training salesman at dealership and they tell you straight up. sell the used cars first, then lease, then new car sales. profit for the dealer(and salesman) are highest for used car sales. and lowest for new car sales. leases are in the middle as far as profit for dealers. if they are making more money, the buyer is spending more money on the purchase/payments(even if its hidden in the loan/payment program).
my biggest dislike of the lease is that its a hassle to get rid of it early. loss of job or another family emergency that will need cash fast, and your stuck with a lease payment you cant get out of?
the other big reason is that dealers will make more money on a leased vehicle than that of a straight financed sale. i was training salesman at dealership and they tell you straight up. sell the used cars first, then lease, then new car sales. profit for the dealer(and salesman) are highest for used car sales. and lowest for new car sales. leases are in the middle as far as profit for dealers. if they are making more money, the buyer is spending more money on the purchase/payments(even if its hidden in the loan/payment program).
my biggest dislike of the lease is that its a hassle to get rid of it early. loss of job or another family emergency that will need cash fast, and your stuck with a lease payment you cant get out of?
well put:thumbsup:
Leasing Muscle cars is just wrong. :bored:
U lease BMW's, Lexus, and other HIGH end foreign luxury cars, since when u buy them they are worth about 80k. Three years later they are worth 20k and the parts still cost the same as they were new.
Best example: the old 1991 BMW 880csi.
New price around 128,000.
4-5 years later price was 30k. OUCH. Imagine trying to get outta from under that loan. (Yes peeps that buy this stuff for that much pay cash, but still)
U lease BMW's, Lexus, and other HIGH end foreign luxury cars, since when u buy them they are worth about 80k. Three years later they are worth 20k and the parts still cost the same as they were new.
Best example: the old 1991 BMW 880csi.
New price around 128,000.
4-5 years later price was 30k. OUCH. Imagine trying to get outta from under that loan. (Yes peeps that buy this stuff for that much pay cash, but still)
Yea I have a friend who leased a 07 Z06 for $1400 a mth no money down for 36 mths @10,500 miles per yr. The dumbest shit I have ever heard, why didn't he just buy the car most people don't look at the final figure on the payments he is gonna have to pay $50,400 for that Z06 over 3years and he doesn't even own it
Reread what you just typed. He is paying $50400 for a Z06?!?!? Sounds like a deal to me, then after that he can turn it in and lease another one for another 3 years and pay far less than retail.
ok.
oke:buy a brand new z06 for 70k today. keep it for three years and sell it for 50k(based on todays 3 year old 06 z06 prices).
70-50 ~ 20k loss
spending 20k for a new z06 is a lot better than spending 50k!
NO!! You RE-READ what you just typed. with "all due respect" Get a clue.:bash:
ok.
buy a brand new z06 for 70k today. keep it for three years and sell it for 50k(based on todays 3 year old 06 z06 prices).
70-50 ~ 20k loss
spending 20k for a new z06 is a lot better than spending 50k!
You forgot to add in the car payments that he made over the last three years!
oke:
You forgot to add in the car payments that he made over the last three years!
not if he pays cash poke?
oke: 0% interest rate was also available for a time on the z06's.
Leasing is good for people who can take advantage of the tax benefits of a lease. If you buy a car and the only way you can afford the car without getting the tax benefits of the lease is just wrong. Another issue of a lease as is the case of buying as well, is the details of the lease. A lot of times leases are subsidized with a very high residual but a high money factor (interest rate) as well making the payment very low. However, if you ever want out of the lease early there will be no equity in the vehicle and you will probably be upside down.
My 997S I leased it has a terrible residual of 42% but a great money factor .0021(equivlent to 5.0%) meaning at the end of my lease there will actually be quite a bit of equity in the car and my payment is quite a bit less than if I bought it and I get the full tax credit due to my tax status.
Now as far as the OP...leasing a GT500 actually depends on your situation. If you can get a great money factor with a low residual (making the payment a tad higher) you would actually be in good shape if you can take advantage of the tax benefits. If not..leasing never is a good idea..
Dave
My 997S I leased it has a terrible residual of 42% but a great money factor .0021(equivlent to 5.0%) meaning at the end of my lease there will actually be quite a bit of equity in the car and my payment is quite a bit less than if I bought it and I get the full tax credit due to my tax status.
Now as far as the OP...leasing a GT500 actually depends on your situation. If you can get a great money factor with a low residual (making the payment a tad higher) you would actually be in good shape if you can take advantage of the tax benefits. If not..leasing never is a good idea..
Dave
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