[tripowergto]

Quick facts:

Garnet Red Metallic 2016 1LT RS Camaro 6-speed
MSRP: $30,535.

GM Card earnings + $750 bonus: $2250(I had a bit more accrued but they wouldn't let me use them)

Chevy Private offer: $1000 but they used this incentive toward honoring the $2500 Volt Loyalty(with dealer discount)

GM Financial supported 24/mo lease with 20k total miles.

$0 out of pocket down(includes 1st payment)

23 payments of $250.87 = TOTAL lease costs of $5770 for a BRAND NEW 2016 RS Camaro, WOO HOO!!

Residual is $21,750.85, Adjusted cap costs is $25,681

[Eric SS]

Looks pretty good. What was the money factor though?

[tripowergto]

Originally Posted by Eric SS

Looks pretty good. What was the money factor though?

It's not on my paperwork anywhere but I was told .00140. I wasn't really concerned about the MF as I have tier 1 credit, reached my threshold cost and am ecstatic over this offer.

[VQ35DE]

Nearly as good as back in the free GTO days huh ?

[tripowergto]

Originally Posted by VQ35DE

Nearly as good as back in the free GTO days huh ?

Not quite, but the "free" 2004 GTO was the best new car deal EVER!! Gotta love the GM Card.

[VQ35DE]

Ditto !

[cellsafemode]

So how much was your buyout option for that car if you wanted to buy at the end of the lease?

I want to keep mine but i'd rather not spend 7k up front out of pocket (my trade-in is a 2001 z28 so i dont expect to get more than a grand or 2). I figure I could lease now for 3-4 years and financing the buy out at that time will be less of an impact on the bank account.

My ideal is a 4cyl turbo 1lt RS that i plan to heavily modify so there is no intent on turning it in once the lease is up.

Edit: is that the residual?

[tripowergto]

Yes, the residual of $21,750.85 is the buy-out price after 2years and 20,000 miles.

This car is an ABSOLUTE steal for $250 month!!

[cellsafemode]

Originally Posted by tripowergto

Yes, the residual of $21,750.85 is the buy-out price after 2years and 20,000 miles.

This car is an ABSOLUTE steal for $250 month!!

So the car's residual is 21.7k, that's like 10k less than the msrp. You're only paying 5.7k + the 1.75k incentive.

Yea it seems like a much better idea to go this route and then get a used car loan to finance the 21.7k.

[tripowergto]

Originally Posted by cellsafemode

So the car's residual is 21.7k, that's like 10k less than the msrp. You're only paying 5.7k + the 1.75k incentive.

Yea it seems like a much better idea to go this route and then get a used car loan to finance the 21.7k.

To be clear, my incentives were higher then that. $2250 GM Card earnings + $1000 Chevy Private offer + over $1500 in additional dealer discounts.

[SuperSound]

$21k residual value, that's what like 70% for 2 years? That's extremely good.

[cellsafemode]

You

Originally Posted by tripowergto

To be clear, my incentives were higher then that. $2250 GM Card earnings + $1000 Chevy Private offer + over $1500 in additional dealer discounts.

I thought it was 750 total and the 2250 was what you had but weren't able to use due to the restrictions on incentives.

In any case.. I'm still on the fence on buying vs leasing. I'm keeping the car long term so it looks like buying is the smart solution.

[tripowergto]

Originally Posted by SuperSound

$21k residual value, that's what like 70% for 2 years? That's extremely good.

Yup, it's 71% @ 2 years but drops to 59% at 3 years. I highly doubt it will be worth buying out though, probably just lease another one as long as I can arrange a similar deal or perhaps I'll outright purchase a leftover 17 model.

[SuperSound]

Originally Posted by tripowergto

Yup, it's 71% @ 2 years but drops to 59% at 3 years. I highly doubt it will be worth buying out though, probably just lease another one as long as I can arrange a similar deal.

Agreed and that gives me reason to think about a 2 yr lease now.

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