Camaro Lease Price

313RS · 01-25-2017, 08:25 PM

Hello everyone! I am new on this forum and looking to lease a 2017 camaro this summer. I'm 19, this will be my first time buying/leasing a car on my own.

Anyway, I was experimenting with the car builder for the camaro and challenger and found that the challenger lease price was much cheaper, even with a much more expensive vehicle price. Sorry if I sound ignorant but what am I missing here?

Challenger GT: Net price: $36,776 Lease for 36 months 10,000 miles 10% down payment= $304 per month.

Camaro 1LT: Net price: $31,980 Lease for 36 months 10,000 miles 10% down payment= $382 per month.

What's the big idea?? I want a camaro but the challenger is tempting with the lower prices.

00 Trans Ram · 01-25-2017, 08:45 PM

Got a lot to type, and I'm on my phone. Subbing, so I'll remember to answer tomorrow.

313RS · 01-25-2017, 08:54 PM

Quote:

Originally Posted by 00 Trans Ram

Got a lot to type, and I'm on my phone. Subbing, so I'll remember to answer tomorrow.

Thanks!

MPScan · 01-25-2017, 08:58 PM

There are two major potential reasons for lease differences like this:

1. Chrysler is subsidizing the Challenger lease more than GM on the Camaro, to boost sales and/or get rid of excess inventory.

2. All leases are based on an agreed upon residual value at lease end. The Challenger keeps more of its value (or Chrysler is increasing the residual value artificially) so its lease monthly payment is lower.

It could be one or both of the above.

SuperSound · 01-25-2017, 08:59 PM

Short answer...don't lease a Camaro. Advice....if you don't know anything about leasing don't lease. Being 19 I can almost assure you it is not in your best financial interest. Do a search for some of the leasing threads in the Ordering sub forum. Lots of good info. I'll try and link some of them later.

Sent from my SAMSUNG-SM-G920A using Tapatalk

CamaroBody · 01-25-2017, 09:15 PM

I remember looking at 04 Mazda RX-8 lease deals in the newspaper every Sunday. Eventually they dropped to $289 with little down so I scooped one up. Forgot the msrp but I think mid 30's.

313RS · 01-25-2017, 09:21 PM

Quote:

Originally Posted by SuperSound

Short answer...don't lease a Camaro. Advice....if you don't know anything about leasing don't lease. Being 19 I can almost assure you it is not in your best financial interest. Do a search for some of the leasing threads in the Ordering sub forum. Lots of good info. I'll try and link some of them later.

Sent from my SAMSUNG-SM-G920A using Tapatalk

Makes sense.. I just love the camaro so much! I'll do more research about it!

313RS · 01-25-2017, 09:22 PM

Quote:

Originally Posted by MPScan

There are two major potential reasons for lease differences like this:

1. Chrysler is subsidizing the Challenger lease more than GM on the Camaro, to boost sales and/or get rid of excess inventory.

2. All leases are based on an agreed upon residual value at lease end. The Challenger keeps more of its value (or Chrysler is increasing the residual value artificially) so its lease monthly payment is lower.

It could be one or both of the above.

Ahh OK. Thanks for your time!

enzia35 · 01-25-2017, 09:32 PM

You already have a 2015 Malibu. How much of a hit are you gonna take on this flease?

313RS · 01-25-2017, 09:38 PM

Quote:

Originally Posted by enzia35

You already have a 2015 Malibu. How much of a hit are you gonna take on this flease?

My parents helped pay for that car, got an amazing deal for it too. I've been working and saving money for around five years now, and also do not have tuition to worry about (scholarship). Money is not a huge issue but I am a money saver by nature and want to get the best deal possible. I would prefer to lease my car as well for several reasons.

enzia35 · 01-25-2017, 09:45 PM

Sounds good. I'm no expert on leases, hope trans ram can help you out! Also, just get the Camaro. Forget about looking at anything else!!!

313RS · 01-25-2017, 09:49 PM

Quote:

Originally Posted by enzia35

Sounds good. I'm no expert on leases, hope trans ram can help you out! Also, just get the Camaro. Forget about looking at anything else!!!

Haha good advice! It is just too good looking to pass up and there is barely any in my area. Hope I can make it happen. I guess it should help that I personally know a leasing consultant at my local dealership.

SuperSound · 01-25-2017, 10:21 PM

Quote:

Originally Posted by MPScan

There are two major potential reasons for lease differences like this:

1. Chrysler is subsidizing the Challenger lease more than GM on the Camaro, to boost sales and/or get rid of excess inventory.

2. All leases are based on an agreed upon residual value at lease end. (or Chrysler is increasing the residual value artificially) so its lease monthly payment is lower.

It could be one or both of the above.

It's both. FCA knows these cars have terrible resale value, so they have to encourage people with only money for a used car to pick up a new one instead. BMW does the same thing. It makes leasing a great option for them but destroys their value in the long run.

Quote:

Originally Posted by 313RS

My parents helped pay for that car, got an amazing deal for it too. I've been working and saving money for around five years now, and also do not have tuition to worry about (scholarship). Money is not a huge issue but I am a money saver by nature and want to get the best deal possible. I would prefer to lease my car as well for several reasons.

So good you won't have one huge bill over your head but how is your credit? Most lease deals require AAA credit ratings to get the advertised payment (+ money down...which is unwise when leasing). There are also various fees associated with leasing and turn in that many people leave out for the total cost of the car. So keep that in mind. What are your reasons for wanting to lease?

gippy87 · 01-26-2017, 12:58 AM

its probably already been said in here but to answer your question there are a few things that factor into the cost of a lease.
1 is what they call a money factor. when it comes to leasing this is basically the interest rate. each leasing company will have their own money factors based off a variety of things.

2 is residual value. its not about how much a car cost its how well it holds its value by lease end.

Quick example of how a more exspensive car can cost less monthly than a cheaper car assuming both are for a 3 year lease agreement.

if you buy a 80,000 dollar BMW that has a residual value of 70,000 at the end of your 3 year lease than you're only responsible for paying for 10,000 plus interest and tax over the 3 years.
80,000 - 70,000 = 10,000
3 years multiplied by 12 months = 36 months of payments
10,000/36 = 277.78 (not including tax + interest)

If you buy a 40,000 Jeep that has a residual value of 27,000 after the 3 years you're responsible for paying 13,000 dollars over the 3 years.
40,000 - 27,000 = 13,000
13,000/36 = 361.11 (not including tax + interest)

Variables that will alter your monthly payment:
Yearly mileage - the less miles you agree to put on it the higher they will make the residual value which will lower your payment.
Down payment - the more you put down the less you will pay monthly. Though in most cases people avoid making large down payments on leases this is supposedly due to the fact that you could drop 10k down drive off the lot, total it and that money is gone.. I personally dont see how its any different than a non leased vehicle but im not a professional.

01-25-2017, 08:25 PM	#1
313RS Drives: 2015 Chevy Malibu 2LT Join Date: Jan 2017 Location: Michigan Posts: 14	Camaro Lease Price Hello everyone! I am new on this forum and looking to lease a 2017 camaro this summer. I'm 19, this will be my first time buying/leasing a car on my own. Anyway, I was experimenting with the car builder for the camaro and challenger and found that the challenger lease price was much cheaper, even with a much more expensive vehicle price. Sorry if I sound ignorant but what am I missing here? Challenger GT: Net price: $36,776 Lease for 36 months 10,000 miles 10% down payment= $304 per month. Camaro 1LT: Net price: $31,980 Lease for 36 months 10,000 miles 10% down payment= $382 per month. What's the big idea?? I want a camaro but the challenger is tempting with the lower prices.

01-25-2017, 08:59 PM	#5
SuperSound Drives: '17 Camaro 2SS A8 Join Date: Jan 2015 Location: Eastern NC Posts: 5,063 View My Garage	Short answer...don't lease a Camaro. Advice....if you don't know anything about leasing don't lease. Being 19 I can almost assure you it is not in your best financial interest. Do a search for some of the leasing threads in the Ordering sub forum. Lots of good info. I'll try and link some of them later. Sent from my SAMSUNG-SM-G920A using Tapatalk __________________ Current: '17 2SS Hyper Blue, A8, MRC, NPP Past: '99 SS Camaro A4, '73 Camaro 383 A3 "Voices in your head are not considered insider information." 3800 Status - 6/16/16 (Built!) 6000 status - 6/29/16 (Delivered!)

01-25-2017, 09:15 PM	#6
CamaroBody Drives: Hyper Blue 2SS Join Date: Jun 2013 Location: CA Posts: 1,163	I remember looking at 04 Mazda RX-8 lease deals in the newspaper every Sunday. Eventually they dropped to $289 with little down so I scooped one up. Forgot the msrp but I think mid 30's. __________________ 2SS, Hyper Blue, 8-Speed Automatic, NPP Exhaust, Magnetic Ride Control, Sunroof, Navigation, 5-Spoke Low-Gloss Black Wheels, Black Bowtie Emblems, Cargo Mat/Net Mods: XPEL - Hood, Bumper, Headlights, & Side Mirrors JWM - Side Markers ZL1 Addons - Deluxe Rock Guards & Red Lift Pads GM - Dark Tail Lamps MRR - Gloss Black M017s

01-25-2017, 09:32 PM	#9
enzia35 Drives: '16 Garnet Red 1SS Join Date: Mar 2014 Location: College Station, TX Posts: 3,449	You already have a 2015 Malibu. How much of a hit are you gonna take on this flease? __________________ '16 Camaro 1SS '18 Miata GT Gone: '01 Camaro, '14 Camaro, '90 Miata

01-25-2017, 09:45 PM	#11
enzia35 Drives: '16 Garnet Red 1SS Join Date: Mar 2014 Location: College Station, TX Posts: 3,449	Sounds good. I'm no expert on leases, hope trans ram can help you out! Also, just get the Camaro. Forget about looking at anything else!!! __________________ '16 Camaro 1SS '18 Miata GT Gone: '01 Camaro, '14 Camaro, '90 Miata

01-25-2017, 08:45 PM	#2
00 Trans Ram Drives: 2017 2SS Join Date: Jun 2014 Location: United States Posts: 636	Got a lot to type, and I'm on my phone. Subbing, so I'll remember to answer tomorrow.

01-25-2017, 08:58 PM	#4
MPScan Drives: 2017 FIFTY VERT MANUAL 2SS Join Date: Dec 2016 Location: Boston, MA Posts: 73	There are two major potential reasons for lease differences like this: 1. Chrysler is subsidizing the Challenger lease more than GM on the Camaro, to boost sales and/or get rid of excess inventory. 2. All leases are based on an agreed upon residual value at lease end. The Challenger keeps more of its value (or Chrysler is increasing the residual value artificially) so its lease monthly payment is lower. It could be one or both of the above.

01-26-2017, 12:58 AM	#14
gippy87 Drives: 2016 2ss Join Date: Aug 2016 Location: RI Posts: 179	its probably already been said in here but to answer your question there are a few things that factor into the cost of a lease. 1 is what they call a money factor. when it comes to leasing this is basically the interest rate. each leasing company will have their own money factors based off a variety of things. 2 is residual value. its not about how much a car cost its how well it holds its value by lease end. Quick example of how a more exspensive car can cost less monthly than a cheaper car assuming both are for a 3 year lease agreement. if you buy a 80,000 dollar BMW that has a residual value of 70,000 at the end of your 3 year lease than you're only responsible for paying for 10,000 plus interest and tax over the 3 years. 80,000 - 70,000 = 10,000 3 years multiplied by 12 months = 36 months of payments 10,000/36 = 277.78 (not including tax + interest) If you buy a 40,000 Jeep that has a residual value of 27,000 after the 3 years you're responsible for paying 13,000 dollars over the 3 years. 40,000 - 27,000 = 13,000 13,000/36 = 361.11 (not including tax + interest) Variables that will alter your monthly payment: Yearly mileage - the less miles you agree to put on it the higher they will make the residual value which will lower your payment. Down payment - the more you put down the less you will pay monthly. Though in most cases people avoid making large down payments on leases this is supposedly due to the fact that you could drop 10k down drive off the lot, total it and that money is gone.. I personally dont see how its any different than a non leased vehicle but im not a professional.

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