02-11-2020, 10:47 AM | #1 |
Drives: '20 ZL1 M6 Join Date: Apr 2017
Location: FT. Lauderdale, FL
Posts: 717
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This is why I HATE the new new car buying/leasing process
So, I'm considering trading my 2017 SS 1LE for a ZL1 with M6, no options. The car should sell for $60-62K max. My 2017 1LE has good miles, 24K, so should be a desirable vehicle for a Chevy dealer, considering there aren't many 1LE's around.
I used a lease calculator with a $62K price, $3K equity in my car in the deal, an "average" residual value (per the app, $38K) with a very reasonable money factor of .00166. I get a lease payment of $744. The dealer is over $200 higher, and he used the same $62K price for the car! They were cagey about the residual and money factor. WTF is with these guys? Am I missing something here? Anyone know a dealer in Florida (or elsewhere) that does good deals on ZL1's? I know I've heard of Becky at a dealer up north. Thanks guys.
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Mal
Ft. Lauderdale, FL '20 Camaro ZL1 M6 '22 Kawasaki ZX-14R |
02-11-2020, 10:51 AM | #2 |
Drives: 2017 ZL1 A10 & 2021 BMW M340i x Dr Join Date: Mar 2009
Location: Tampa
Posts: 5,110
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Stingray Chevy in Plant City. They also honor friends and family discount if you can get one.
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Sold 2012 2LT RS 12.3@112 old setup
Sold 1967 Camaro Pro Street. Ran 10's mild BB on NOS. 2017 HyperBlue ZL1 A10 ** Born 3/17/17**Delivered 4/08/17 2020 Build: Mag2650, BTR Stage2, NW103, BG, 14% lower, 90mm upper, ARH 2" Long system w/no cats, SW Legend mufflers. **807hp/762tq on 93 gas** and **848hp/792tq on e47** Sold 2018 (Go Mango) Dodge Charger Daytona 392 Daily Driver Daily Driver 2021 BMW M340i Xdrive |
02-11-2020, 10:56 AM | #3 | |
Drives: 2018 ZL-1 Join Date: Jan 2018
Location: Albuquerque
Posts: 948
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I hate car dealers too. Lying and concealing is their main strategy against the people who walk in to try to buy a car. Shameful. |
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02-11-2020, 11:49 AM | #4 |
Drives: '20 ZL1 M6 Join Date: Apr 2017
Location: FT. Lauderdale, FL
Posts: 717
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I would have bought the car on the spot if they did a fair deal. Dumb asses.
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Mal
Ft. Lauderdale, FL '20 Camaro ZL1 M6 '22 Kawasaki ZX-14R |
02-11-2020, 12:13 PM | #5 |
Drives: 2018 Hyper Blue ZL1 1LE Join Date: Dec 2018
Location: CA
Posts: 1,360
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If they provide the residual, it becomes a simple equation right? You're at a dealer used to selling muscle cars to suckers (young men mostly) who don't understand all the factors involved. They make a lot of money selling the muscle car fantasy, based on payment they believe they can handle, to people in a big hurry to get behind the wheel of their dream. They end up ripped off for thousands of dollars. Reminds me of Russell Westbrook Dodge in Van Nuys CA near me, fleecing dudes on Challengers/Chargers all day. Other dealers don't specialize in this, find one of those.
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02-11-2020, 12:44 PM | #6 |
Taz
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I am not nor do I work at a car dealer, but remember, businesses are there to make a profit. They hire local people and support families thru out this great country we live in, the car business has turned into a negotiated sale due to local competitive dealers and pressure by the manufacturers on dealers to grow sales and take share. Those hot items help dealers offset the lower margins on competitive categories. Stick to your guns, if you have a price in mind, then you just tell them they are to high, walk away. Then you will find out if the dealer wants the business, they will counter still higher then what you are willing to pay. It’s just a process. My last ZL1 purchased took 4 days to complete, we went back and forth via text till they came down to a number I was comfortable with. I understand it can be frustrating to get it over quickly, be patient, if they are unwilling to come down, then you keep shopping, you are in the drivers seat. My 2 cents.
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02-11-2020, 12:52 PM | #7 | |
Drives: '20 ZL1 M6 Join Date: Apr 2017
Location: FT. Lauderdale, FL
Posts: 717
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Quote:
Your $.02 is appreciated.
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Mal
Ft. Lauderdale, FL '20 Camaro ZL1 M6 '22 Kawasaki ZX-14R |
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02-11-2020, 01:02 PM | #8 |
Drives: ‘18 ZL1 1LE Join Date: Mar 2019
Location: Texas
Posts: 155
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You will always have to haggle for a fair trade in value but if you can wait a little March is right around the corner. If it’s anything like last year there will be some really good deals. I know it’s not in Florida but check out Donohoo in Alabama. Might be worth the drive.
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02-11-2020, 01:06 PM | #9 | |
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They have treated me right 3 times so far. I will continue to buy from them. (I have no affiliation with them, they are just great to deal with )
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2020 Range Rover Sport HSE P525 Supercharged 5.0 - Firenze Red - 9012 wheels
SOLD 2019 Camaro SS -Wrapped in Matte Magnectic Black - Anderson Carbon Hood and Rear Spoiler – Ikon front spoiler – OEM ZL1 Side Rockers - ZL1 Addons Diffuser - BMR 1.0” Lowering Springs - MRR 228 Wheels 20x10 and 20x11 RIP 2016 Camaro SS https://www.camaro6.com/forums/showthread.php?t=565453 SOLD 2010 Camaro SS Featured in GM High Tech Performance and Camaro Now Magazines - http://www.superchevy.com/features/g...of-perfection/ |
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02-11-2020, 01:12 PM | #10 | |
Drives: 2019 Camaro Z-28 Join Date: Jul 2010
Location: Dallas
Posts: 1,483
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leasing wont work here
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This all really started years ago when BMW was taking an absolute ass beating on their cheap leases they were offering on their 3 and 5 series cars. Over a period of time they took millions of dollars in losses when the cars that were coming back from lease were as much as 10K over valued. All of the other manufacturers took note of this as well hence the reason why residual values are MUCH lower jacking up of course the lease rates. On a Camaro you would be much better off NOT leasing the car but purchasing it outright. The lease argument that leasing is cheaper DOES NOT apply HERE at all unfortunately.
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2019 SS 1LE BIG NA A10 Eagles Canyon Raceway 2.7 CCW Below https://youtu.be/c9M5UHDftcA 4-15-23 at SCCA TT U1 Class MEGA Thread on THIS car: https://www.camaro6.com/forums/showthread.php?t=602092 Retired Cars BELOW: 1973 Camaro, 1969 Camaro, 1969 Camaro SS RS 2010 Camaro SS with 1000HP F1R, 2019 ZL1 1LE A10 |
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02-11-2020, 01:49 PM | #11 |
Who Needs to KNOW?
Drives: 18 ZLE Join Date: May 2018
Location: Left Side of the Moon
Posts: 1,770
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Get rid of current car private party, carvana, etc and remove variables from equation.
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ing for grip.
Are you in the NY/NJ/PA/CT region? Join us for autox fun at MetLife Stadium. HUGE lots, tons of runs. http://www.motorsportsne.com/ |
02-11-2020, 07:25 PM | #12 |
Drives: 2019 Camaro ZL1 M6 Join Date: Nov 2018
Location: Fort Lauderdale, FL
Posts: 87
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$10 says it’s Phil Smith Chevrolet eh?
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02-11-2020, 07:52 PM | #13 |
Drives: 2018 ZL1 Garnet Red A10 Join Date: Mar 2015
Location: Nashville, Tennessee
Posts: 137
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Don’t forget to include sales tax. But that still would not be $200 a month.
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2018 ZL1 Red Hot A10 (SOLD 1/21)
2001 Corvette Z06 Quicksilver Heads/Cam/Longtubes 443rwhp (SOLD 5/23) 2018 ZL1 Garnet Red A10 (BOUGHT 2/23) |
02-11-2020, 07:55 PM | #14 | |
Drives: 2018 ZLE (M6/hyper blue) Join Date: Nov 2015
Location: Lithia, FL
Posts: 762
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Quote:
I used to say their shop was a bit slow, but ok, but then I discovered they don't know crap about their own cars. Unfortunately the only other close options are the same or worse for Chevy dealerships. |
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