Lease a ZL1?

[Slowyouroll]

Does anyone no if the ZL1 will be offered for lease? If so, what would be the benefits over a direct purchase? Also, can a ZL1 be special ordered if it is a lease.

[The Stig]

I doubt it. Leasing a vehicle is never a good idea. It's financially better to buy it.

[vertcobra99]

Originally Posted by stieger

I doubt it. Leasing a vehicle is never a good idea. It's financially better to buy it.

Im sorry... I had to sign up just to point out that the above is the worst advise ever given.

Its almost always better to lease a car because a car is a depreciating asset. There are only a few times where buying a car is more advantagous then buying:

1) you own a car for 7 years or more. (most people buy or trade in a car every 3-5)
2) you drive more then 15k miles per year
3) you want to modify your car


Here is a link for your reading pleasure on buy vs leasing.

http://www.leaseguide.com/lease03.htm

Please don't give people horrible advice.

[The Stig]

Originally Posted by vertcobra99

Im sorry... I had to sign up just to point out that the above is the worst advise ever given.

Its almost always better to lease a car because a car is a depreciating asset. There are only a few times where buying a car is more advantagous then buying:

1) you own a car for 7 years or more. (most people buy or trade in a car every 3-5)
2) you drive more then 15k miles per year
3) you want to modify your car


Here is a link for your reading pleasure on buy vs leasing.

http://www.leaseguide.com/lease03.htm

Please don't give people horrible advice.

Originally Posted by the website you suggested

Just a Comment on Lease-to-Buy Plans

Some people lease with the intention of buying their vehicle at the end of the lease, or before the end of the lease. It allows them to start out with lower payments by leasing and then buy the car at lease-end with a used-car loan. This is nearly always more expensive in the long run than simply buying outright. However, you may have a good reason for this tactic.

Here's a quote from Smart Money --> LINK

Originally Posted by Smart Money

The Disadvantages

No Equity -- Similar to paying rent on an apartment, your lease payments don't go towards owning anything. Unlike traditional financing, you can't look forward to the day when the payments will stop and you can drive your own car free and clear.

Lack of Flexibility -- You pay a big penalty if you want out of the lease before the full term. Bailing out early may cost you as much as six extra months of payments, depending on your leasing company.

You May Pay Extra -- Most leases charge an extra 12 or 15 cents for each mile you drive over a certain limit. Typically the lease agreement grants 12,000 to 15,000 miles per year. (Drivers average 15,000 miles per year.) Also, you'll have to pay up for any damage to the car beyond normal wear and tear when you turn it in. One way to avoid the mileage charge is to buy more miles at a reduced rate (of around 10 cents) up front.

Insurance May Come Up Short -- If you total the car or it gets stolen, your insurance will only reimburse you for the car's market value, which might not cover what you still owe on your lease. You can buy extra "gap coverage" to protect against this, and some lease deals include it automatically.

But I do appreciate you signing up even if it was just to bash me

[vertcobra99]

Originally Posted by stieger

Here's a quote from Smart Money --> LINK


But I do appreciate you signing up even if it was just to bash me

Ya... "IN THE LONG RUN"

which means 7 years. Its too bad the average american only keeps a car for 3-5 years so they always end up losing in the long run.

Did you even read what I wrote? I specifically said that unless you plan to own car for more then 7 years...

Also for the disadvantages you listed were adressed in my three reasons you should buy. Accept the insurance part which applies to both buy and lease. they will short change you for your vehicle weather you buy or lease so I don't see how thats really a disadvantage?

[chewy8]

i would never lease makes no sense get the car of my dreams just to give it up later

[vertcobra99]

Originally Posted by chewy8

i would never lease makes no sense get the car of my dreams just to give it up later

Ya but what if the next generation ZL1 gets a power bump to compete with the GT500? Your probably going to want the newer model and thats possible with a lease.

My point is that there are times when leasing makes a lot of sense... and there are times when buying makes sense... buying is not always the better decision.

[The Stig]

Originally Posted by vertcobra99

Ya... "IN THE LONG RUN"

which means 7 years. Its too bad the average american only keeps a car for 3-5 years so they always end up losing in the long run.

Did you even read what I wrote? I specifically said that unless you plan to own car for more then 7 years...

Also for the disadvantages you listed were adressed in my three reasons you should buy. Accept the insurance part which applies to both buy and lease. they will short change you for your vehicle weather you buy or lease so I don't see how thats really a disadvantage?

See I didn't care about how long the average person keeps a car. I for one am keeping this car forever, so the idea of leasing and then buying is financially irresponsible in my book. But yes, if the OP only wants to keep his ZL1 (the fastest camaro in Chevy history) for 3 years then I can understand leasing one. That being said, good luck trying to find a dealer willing to lease you one.

[2ndCamaro79]

If your a car person and live in a two car household, to me one car should always be leased. Cars change soo much performance, safety, options, I would hate to be stuck with a old model for over seven years. That being said having two car payments and rent/house payments is too much.

[vertcobra99]

Originally Posted by stieger

See I didn't care about how long the average person keeps a car. I for one am keeping this car forever, so the idea of leasing and then buying is financially irresponsible in my book. But yes, if the OP only wants to keep his ZL1 (the fastest camaro in Chevy history) for 3 years then I can understand leasing one. That being said, good luck trying to find a dealer willing to lease you one.

Your right you might not be able to find a dealer to lease one to you... but I bet it can happen.

One of the biggest problems with leases was that you couldn't get out of them... but now with websites such as swaplease.com and leasetrader.com its really easy to get out of a lease if you need to.

Not to mention that your sales tax and yearly excise taxs will always be a lot lower with a lease. You only pay on the total amount of depreciation instead of the total purchase price of the vehicle.

That combined with your always own a car thats in warranty... it starts looking like a really good option for most people.

[snapp32e]

Meh...I'd rather drive the bag off something I own, not something GM owns and I pay rent on.

[Scarrzz]

Originally Posted by vertcobra99

There are only a few times where buying a car is more advantagous then buying:

1) you own a car for 7 years or more. (most people buy or trade in a car every 3-5)
2) you drive more then 15k miles per year
3) you want to modify your car

All three of those apply to me. The only car I haven't kept for at least ten years was the one I wrecked in college.

I kept my little pickup for 20 years and a quarter million miles, saving up for the car of my dreams.

I have an order number for said "car of my dreams" finally, and expect to keep my ZL1 until someone drives me away in a long black car.

[Blownhotrodder]

I love some of you guys thinking that, "oh im gonna keep this thing forever" lol. I said that too but the problem with that is that there is gonna be something better, faster, whatever the next year probably. Newness wears off fast for alot of people.

[The Stig]

Originally Posted by Blownhotrodder

I love some of you guys thinking that, "oh im gonna keep this thing forever" lol. I said that too but the problem with that is that there is gonna be something better, faster, whatever the next year probably. Newness wears off fast for alot of people.

Not everyone needs to have the newest thing to come out. I'm perfectly happy with what I have now. If you're always going to the next new thing, I'd say that says something about you.