[stmbtwilli]

Anyone have the numbers for a 36 or 39 month lease at 12,000 miles per year. My dealer is at 57% and .00130.
It is for a 2SS in zip 13090.

[MotorCityATX]

http://forums.edmunds.com/discussion...ease-questions

Edmunds has a lot of dealers and insider that share numbers....

[angelbones]

Thanks for the Edmunds thread. However, I'm also interested in this very question. I'm looking a little less traditional. 24 months/10k or 30 months/10k? Also, does anyone have info on any changes up or down with residuals for 2017 model year?

[Richard0nee]

I got MF .00150 with the dealer's here. 60% residual since I have a daily driver.

Dealer also saI'd the banks set the final residual :/

[mjw930]

If all you are looking for is the lower payments a lease offers and don't have tax benefits to consider AND don't mind being responsible to sell or trade the car at term then check out PenFed's (www.penfed.org) payment saver loan. It's structured like a lease without the downside of mileage restrictions and you own the car.

Their "money factor" for a 24 or 36 month loan is .000725 (1.74%). Residuals are right around 57% for 36 months.

[megaphone]

Originally Posted by mjw930

If all you are looking for is the lower payments a lease offers and don't have tax benefits to consider AND don't mind being responsible to sell or trade the car at term then check out PenFed's (www.penfed.org) payment saver loan. It's structured like a lease without the downside of mileage restrictions and you own the car.

Their "money factor" for a 24 or 36 month loan is .000725 (1.74%). Residuals are right around 57% for 36 months.

Thanks for shining some light on this for me. Do you have any experience with this program? Thinking of buying a used 2016 and using this in the coming months.

[mjw930]

Originally Posted by megaphone

Thanks for shining some light on this for me. Do you have any experience with this program? Thinking of buying a used 2016 and using this in the coming months.

I have used the payment saver loan many times, it's a great program for those who aren't long term owners but there is always the option to refinance the balloon payment at the end if it turns out the car is a keeper.

It's not like a lease where the residual is calculated off the cap cost or the actual MSRP. Their calculator has pre-defined MSRP values for new cars based on VIN + options so the ballon or residual is based on that, not on what you are actually paying. For the most part their calculator has higher numbers than what's on the window sticker, probably to accommodate minor options they don't track.

I've never used it for a used car so I don't know how that calculator works. On used cars the interest rates are 0.5 higher than new but it's still a great used car rate.

You have to be a member but their new member page shows you what you need to qualify. If you aren't a government employee or military you can join a non profit veterans service agency for $25 and qualify, that's what did. You need decent credit to qualify for these loans, typically a FICO score over 700 gets you in. They used an older FICO model so it's not the same number you see on myfico.com. If you have good credit it shouldn't be a problem.

One caveat, their application process is fully automated so you can apply, get a decision and have a check in the mail the same day. However, the loan starts the day the check is cut, not the day you deliver the check to the dealer. To make sure you don't end up with a check 30 days before you need it just leave out the vehicle VIN on your app. That will get you your approval but require a call from you to complete the loan.

Their calculator will give you all the numbers so I won't go into detail on my loans but most of the time the sweet spot for payment vs. total cost is 36 months. Run the total cost before you decide, taking into account the balloon payment, don't just focus on the payment. Remember, you don't own the car at the end of term so factor that in. Also be aware since you are only paying down the difference between the loan and the residual you may remain upside down on the loan longer than a traditional loan.

[bballr4567]

That is a great program from penfed. Thanks for that info!

[megaphone]

Thanks for spending the time to type all of that out, a lot of useful information in your post. My father has used Penfed for 90% of his car loans and has nothing but great things to say about them, their rates always make time at the dealer shorter when they ask about financing as they just can't come anywhere close to what Penfed has to offer.

Yeah I see a used car has a higher APR but when the time comes to pull the trigger I'll compare the two, I am looking at getting a 2ss so if I can find one a good amount of the original MSRP I believe I will never be "underwater" on the car for the duration of the payments especially if their residual is around 57%.

Thats also great news on the FICO score, I was under the impression you needed something north of 760 to even be considered at Penfed!

[SuperSound]

Anyone got a quote for the PenFed saver program for a 2SS? What would the payments and final balloon payment like?

Edit: Nevermind found their calculator

Monthly Payment
$545.70
Final Payment
$17,870.70

On MSRP
$46,380.00
Residual Value
$17,325.00

[stmbtwilli]

Geez and I still didn't find anyone to answer my original question. All I was hoping for was two simple numbers.

[SuperSound]

Originally Posted by stmbtwilli

Anyone have the numbers for a 36 or 39 month lease at 12,000 miles per year. My dealer is at 57% and .00130.

That MF is better than what I've seen online for top tier credit. This should help:

Residual Values (10,000 mi/year)
Trim 24 months* 27 months* 36 months** 39 months**
2016 Camaro LT 71% 68% 60% 59%
2016 Camaro SS 71% 68% 60% 59%
*Subtract 1% from residual for 12,000 mi/year. Subtract 2% from residual for 15,000 mi/year.
**Subtract 1% from residual for 12,000 mi/year. Subtract 3% from residual for 15,000 mi/year.

http://leasehackr.com/blog/2016/1/23...9-month-0-down

[bballr4567]

Originally Posted by stmbtwilli

Geez and I still didn't find anyone to answer my original question. All I was hoping for was two simple numbers.

The first post with the Edmunds link in it has your answers.

Plus, you didn't say what trim you are looking for. Verts are getting hit hard with residual so far.

[mjw930]

Originally Posted by stmbtwilli

Geez and I still didn't find anyone to answer my original question. All I was hoping for was two simple numbers.

Sorry dude, just showing you an option with half the MF you were being quoted.