[1CEBITN]

Just realize that money spent on the lease is interest and depreciation. A large amount of interest that you won't make up investing the money elsewhere. Leases anywhere right now are not really a sound financial decision unless all you care about is monthly payment and you have to have that car. If that's the case then nothing wrong with it but just call it what it is - a want that you can afford. Enjoy the car!

[s346k]

dont leases carry mileage limits?

[18LTLoveIt]

Hold off on lease, except if you want to upgrade what you can purchase for. But a decent down payment could lower the payments. Keep milage under 12K yr because when the 7th generation come out you might want one of those.

[JCunningham]

ill never buy a used car that requires high octane fuel. i was just at the pumps and a guy with a racing sled was putting gas in it. the station was out of everything but 87. I asked him your pump has 93?. he said no he was putting 87 in it. I asked him doesnt that require 93? he said ya thats what your supposed to put in it but its fast enough with 87. I aksed him if it also had a 87 tune in it he siad he didnt know so I told him I had a 17 Camaro ss that requires 93. he said he had a 18 SS and he puts 87 in that too.

[jfearh]

Post before me, sorry dude i accidentally deleted your message, not sure how it happened! lol my bad!

its actually coming out in a few years, at least 2 more years. I sold my motorcycle (ZX-10R) so i could replace the thrill (somewhat) in a V8 Camaro and be alot safer (life style changes). For those asking about the mileage, it will be 10k miles but i currently have a Equinox as a daily driver and i put about 8.5 k in one year so i should be good.

Once again, guys the reason why i am going for the lease is with the intention of purchasing it eventually and i have compared the cost and with leasing and purchasing it in the end, it will still be cheaper than financing it up front.

[matt fe2o3]

Originally Posted by Martinjlm

I’ve had good experiences with leases. Over the years we’ve done about a dozen leases. My favorites were

• 24-month 12,000 mile per year lease on a 2014 Chevy Cruze. Somewhere around $800 down, $85/month for 24 months. Turned it in pretty much on target mileage wise, no muss, no fuss. Then picked up a....
• 24 month 10,000 mile/yr lease on a 2016 Chevrolet Cruze for $63/mo. Turned it in about 2,000 miles over mileage (one of my kids drove it more than I did). Got hit for $0.08 cents per mile, so something under $200 extra. No biggie. Also got hit for wear and tear where the same kid “rubbed” it against the garage opening. Can’t remember what that cost me, but when you consider I paid about $2,500 to use the car for two years ($1,000 down, $63/mo) I think I still came out far ahead.

That's using your head. Low cost transportation. That type of deal I really think is great. At that point it's a 3 dollar a day rental. Hard to beat that.

[JCunningham]

you should check out Chevydude on youtube he explains how all the dealer stuff works + the scams. https://www.youtube.com/channel/UCzi...LWc8bp02Pc5azg

[Bill3rdletter]

Have you tried a pre qualification through capitol one financing (yes the credit card company) online. I got prequalified and used their search tools and found a dealer near me that had my brand new 2018 1ss manual. I brought the prequalification in on purchase day and there was no problems in n out dealer under 2 hours payment is 500 a month 72 months which is exactly what capitol one said it would be. Soft inquiry doesnt affect your credit score and the offer is good for about 40 days so you can keep searching for the right car. Used and new inventory listed on there

[Blueclyde]

This sounds like a decent lease arrangement. You’d have to drop some money down the get a purchase option payment to be similar. The cool thing about a lease, especially a good one, is your turn it back at the end if you don’t want to buy.

I didn’t think that GM did 2 year leases anymore. I just came out of a 3 year lease on a 2SS. They did not have a 2 year lease back in 16 when I got mine. The lease for me worked out as I daily drove the car for two years.

[Martinjlm]

Originally Posted by Blueclyde

This sounds like a decent lease arrangement. You’d have to drop some money down the get a purchase option payment to be similar. The cool thing about a lease, especially a good one, is your turn it back at the end if you don’t want to buy.

I didn’t think that GM did 2 year leases anymore. I just came out of a 3 year lease on a 2SS. They did not have a 2 year lease back in 16 when I got mine. The lease for me worked out as I daily drove the car for two years.

Lease terms vary based on lease provider (GM uses GM Financial and Ally. Maybe others) and what Marketing wants to do with the car. I’ve done two year and three year leases and still see some of both offered in the reams of offers I get in the mail from GM, GM Financial, and Ally, now that we have a car about to come off lease.

[jfearh]

Originally Posted by Blueclyde

This sounds like a decent lease arrangement. You’d have to drop some money down the get a purchase option payment to be similar. The cool thing about a lease, especially a good one, is your turn it back at the end if you don’t want to buy.

I didn’t think that GM did 2 year leases anymore. I just came out of a 3 year lease on a 2SS. They did not have a 2 year lease back in 16 when I got mine. The lease for me worked out as I daily drove the car for two years.

how much was your payment (monthly & out the door on paper)? did you buy the car?

[Blueclyde]

Originally Posted by jfearh

how much was your payment (monthly & out the door on paper)? did you buy the car?

I leased it in 2016 and back then there were no incentives on the car and quite frankly the lease deals were not that good. Payment was 610 with normal upfronts. I did not buy it and just gave it back. It was my DD for two full years. I wanted the car so the deal and the payment weren’t really an issue.

[camaroguy236]

I never understood the argument with these cars that leasing is a bad financial decision. Buying a heavily depreciating high performance car is a bad financial decision no matter how you go about it. But that’s why we work so we don’t have to make the best financial decision every time. I lease my 2SS now and have had no issues. Sure I could have bought it outright but I could have also bought a used Prius if I was really that concerned about making a good financial move.

[Martinjlm]

Originally Posted by camaroguy236

I never understood the argument with these cars that leasing is a bad financial decision. Buying a heavily depreciating high performance car is a bad financial decision no matter how you go about it. But that’s why we work so we don’t have to make the best financial decision every time. I lease my 2SS now and have had no issues. Sure I could have bought it outright but I could have also bought a used Prius if I was really that concerned about making a good financial move.

Exactly. And sometimes leasing makes the MOST financial sense, depending on your needs. Typically, if you want the MOST car you can get for your money, leasing is the better path. Leasing is based on the Residual. The residual is what the leasing partner estimates the car will be worth at the time that it gets turned back in. Quite often, higher priced cars carry higher residuals, which translates to LOWER relative payments. Leasing economy cars typically makes little sense, since the residuals are typically not that high. Exceptions would be in situations where the automaker needs to move more high fuel economy cars to improve their CAFE position. This is exactly why I was able to lease 2014 and 2016 Cruze at $85 and $63/month respectively. In those cases, it would have made ZERO sense for me to purchase instead of lease. I paid more for gas in a month for those vehicles than I did for the vehicles themselves and then turned them in.

For my Camaro, since I knew I would be keeping it, I looked at lease + purchase at end of lease, purchasing outright, or financing at low-rate. Since I was able to get the dealer to lower my purchase price and get me a 2% 6-year rate so that it was equivalent to purchasing at my GM discount price at 0%, I went that route. I have no problem with using other people’s money at 2% while my money that I would have spent makes 4+%.

Every situation is different. You can’t just say “leasing is bad” or “paying cash is always best”. You have to do the math. That high school algebra that many people say they’ll never need in real life.