03-11-2017, 10:11 PM | #29 |
Drives: In Process of buying Join Date: Feb 2017
Location: Indianapolis
Posts: 38
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03-12-2017, 08:27 AM | #30 |
I need Teepee!
Drives: 2019 Camaro SS 1LE Join Date: Oct 2016
Location: Highland, TX
Posts: 181
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Yeah they are probably hesitant because they know it will expose where they are trying to go in dry.
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03-12-2017, 02:15 PM | #31 | |
Drives: 17 SS 1LE Join Date: Jun 2014
Location: Orange County CA
Posts: 116
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Then an adjusted cap cost with another 3K off? Is that a down payment? What about bank fees? Sometimes dealers try to sneak destination charge in there as well without quoting it as part of the sale price of the car. I mean, there is no way you are going to lease a 1LE for $3xx per month without a big down payment. Certainly not with a residual of 54%. Looking at Ally's rates they have the residual at 60% for a 1SS with 15k miles for 36 months. You might want to see if the dealer will do an Ally lease. The MF might be higher, but I'm not sure. |
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03-12-2017, 03:06 PM | #32 | |
Drives: In Process of buying Join Date: Feb 2017
Location: Indianapolis
Posts: 38
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Quote:
I'm thinking of payment around 400-450 honestly which is a doable number in my opinion with the GM lease numbers that I have been seeing. If I do the build your own tool on chevy.com and put a down payment of 7,400 which gets me down to 37k it makes my payment at 371 before taxes and other fees. Which my tax rate is 7%. And fees I cant imagine being more than 2500$ but I'm not sure. So my payment goal of 400-450 is not an imaganiry number. If it is please tell me. |
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03-12-2017, 04:57 PM | #33 | |
Drives: 17 SS 1LE Join Date: Jun 2014
Location: Orange County CA
Posts: 116
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Quote:
The sale price of the car and the MF and residual from the bank. If the residual is 54% and the MF is .00119 (2.856% apr) then those numbers are set. I would imagine the sale price of the car should be a couple grand under MSRP at least. So let's say the MSRP is 45700 and you had a sale price on the car of 43700. Let's assume there is a bank fee of 595 which is pretty typical. That means the adjusted cap cost is 43700 + 595 = 44295. Residual value is 45700 * .54 = 24678 So with nothing down other than first month payment and dmv fees you should be looking at 670.88 with sales tax of 7% included. It looks to me like they are trying to sell the car to you at MSRP which would put the payment at $732. With 7400 down on that deal you should be closer to $500 per month. My advice would be to aim for a sales price of 2-3 thousand under MSRP, then with nothing down other than first months payment and drive offs you should be closer to the high 6s. If you want to put money down you can, but I would advise against it. If you total the car you will lose that money you put down. I actually go for zero drive offs meaning everything is rolled into the loan. I generally don't pay a dollar until the 2nd months payment is due. A lot of times they do this through cash incentives etc. Again, I would ask what the sale price of the car is and ask if they will do a lease through Ally bank and a breakdown of all the numbers. Many times the dealers try to inflate the money factor and hide costs in the leases. |
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03-12-2017, 05:07 PM | #34 | |
Drives: In Process of buying Join Date: Feb 2017
Location: Indianapolis
Posts: 38
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Thanks in advance. You've been great help. |
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03-12-2017, 05:14 PM | #35 |
Drives: White 1LE Join Date: Dec 2016
Location: Chicago
Posts: 216
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Good god I thought mine was rough.. glad I bought instead
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03-12-2017, 05:15 PM | #36 | |
#becauseracecar
Drives: 2016 SS Sedan, 2016 Camaro SS Join Date: May 2015
Location: Phoenix
Posts: 2,959
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I would never put money down in a lease. All it does is lower your payment. It does nothing to the actual residual. Say you put $10k down on a lease, drive the car off the lot, and get into an accident and the car becomes a total loss. Your $10k is gone. You're better off putting that in a bank and just taking out the monthly difference to put towards your payment. I generally even roll my acquisition fee into the lease. |
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03-12-2017, 05:26 PM | #37 | |
Drives: 17 SS 1LE Join Date: Jun 2014
Location: Orange County CA
Posts: 116
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I would recommend asking for a quote from Becky here on the forum from Rodgers Chevrolet. She'll give you a no frills quote and will be able to take your GM rewards in to account. |
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03-12-2017, 05:38 PM | #38 |
Drives: In Process of buying Join Date: Feb 2017
Location: Indianapolis
Posts: 38
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HMMMM I've talked to Becky and here number was high. It was like 600$. Like I said earlier. I'm in no rush to get the car. It's a secondary. I have a budget and if it can't fit it than I'll move on and not get one. I guess I'm just confused on why leasing a car is as much a financing it. Lol. Makes no sense.
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03-12-2017, 05:50 PM | #39 | |
#becauseracecar
Drives: 2016 SS Sedan, 2016 Camaro SS Join Date: May 2015
Location: Phoenix
Posts: 2,959
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03-12-2017, 06:18 PM | #40 | |
I need Teepee!
Drives: 2019 Camaro SS 1LE Join Date: Oct 2016
Location: Highland, TX
Posts: 181
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03-13-2017, 07:42 AM | #41 | |
マスタング = 遅い
Drives: 2017 Chevrolet Camaro SS 1LE Join Date: Aug 2015
Location: Florida
Posts: 7,061
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03-14-2017, 09:04 PM | #42 |
Drives: In Process of buying Join Date: Feb 2017
Location: Indianapolis
Posts: 38
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THANKS FOR EVERYONES HELP ON THIS ONE. DIDN'T GET MY DREAM PRICE BUT CLOSE ENOUGH. 500$/MONTH OUT THE DOOR.
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