[Chartley2013]

Currently in the market to pickup up a 2017 redhot 1le. im going to end up doing a lease on it. Low mileage 10k per year but the three dealerships I have got a hold off gave me a monthly lease price of 700+ a month to lease the vehicle. Using GM money factor and residual should make the payment be at 420$Ish Before taxes and other fees. So either they have some stupid high "other fees" or these cars are a hot commodity. Anyone else have an issue with a crazy high lease payment?? Their price on the vehicle is 40k

[Eric SS]

That is a lot. I think March MF is currently .00119 and 58% residual for 36/10 so where you think it should be sounds about right with no cap cost down for a smoking deal. Not sure where the $700 plus is coming from. Upside down in trade? Bad credit so higher MF? I bet they quoted you a much higher MF than Gm's current lowest. Dealers make money off of the MF if they raise it above the base

[nate.the.great]

it's probably because the lease isn't through GM. i'm guessing GM won't lease a 1LE just like ford won't lease a Focus RS. the lease is through an independent bank with a much higher money factor.

[Chartley2013]

Originally Posted by Eric SS

That is a lot. I think March MF is currently .00119 and 58% residual for 36/10 so where you think it should be sounds about right with no cap cost down for a smoking deal. Not sure where the $700 plus is coming from. Upside down in trade? Bad credit so higher MF? I bet they quoted you a much higher MF than Gm's current lowest. Dealers make money off of the MF if they raise it above the base

I'm not trading anything in. Just wanting a weekend warrior. Credit score is 730 so I doubt that had anything to do with it. I'm going to take a wild stab and go with your last statement. I guess they are a business and want to make the most money possible. But it sure as hell gets annoying and frustrating. Hoping I can get one in the next few weeks but for 700$ I'll pass. Lol.

[Chartley2013]

Originally Posted by nate.the.great

it's probably because the lease isn't through GM. i'm guessing GM won't lease a 1LE just like ford won't lease a Focus RS. the lease is through an independent bank with a much higher money factor.

Why would they offer a lease option on their website when you build out the car.

[keon718nyc]

Through GM i am paying in the higher $6's on my 36 month lease but could of had it down to the mid to lower $5's if i didn't trade in my car 5 months early and got hit with the added $ on the payments ect. I took the 10,000 miles a year lease. Also i just put down basic leasing fees which came to about $1900 or so. My credit was in the higher range at that time as well. This was back in December 2015 and the sticker price was $49,950 on my 2SS.

[Richard0nee]

Originally Posted by keon718nyc

Through GM i am paying in the higher $6's on my 36 month lease but could of had it down to the mid to lower $5's if i didn't trade in my car 5 months early and got hit with the added $ on the payments ect. I took the 10,000 miles a year lease. Also i just put down basic leasing fees which came to about $1900 or so. My credit was in the higher range at that time as well. This was back in December 2015 and the sticker price was $49,950 on my 2SS.

You buying your car out after the lease?

[cpnslow]

Yeah that's nuts... I'm leasing for 36 months and 15k miles a year, $2k down at delivery plus lease wear care, and I'm paying $630/month. And this is through GM Financial, they will lease 1LEs no question, unlike Ford Performance cars.

[maraging]

$630 sounds nuts to me. 25 grand in three years to rent a car is crazy!

[gippy87]

i leased a loaded 2ss for 414 a month so yea im thinking their numbers are a bit off..

[backhill]

Originally Posted by maraging

$630 sounds nuts to me. 25 grand in three years to rent a car is crazy!

You're paying the same in depreciation when owning the car over the first three years. You have the risk (read: certainty) of being upside down, assuming 60 or 72 month financing, if you want to get out of the car any sooner than 30 months into ownership. Full freight on a SS 1LE is 45.7k, plus taxes and a 72 month financing at 2% is $714/mo. Most can can drop it down to $40k with other rebates and incentives, it still puts you at $625/mo.

Explain the difference.



OP, what are the lease terms? Residual, money factor? It's easy to know where the dealer is sticking you if you can do lease math. Give Becky a call and she will take care of you.

FWIW, I'm paying $550.00 on a 39mo/15k lease.
56% residual on $45.7k 1LE
.00119 MF
I think final price was $40,020.xx after incentives and discounts.

I put a little down to pay off the remainder on my turn-in lease or else it would have been $573/mo. GM employee discount and lease loyalty also applied. $630 sounds about right without employee discount.

[Michigan1LTRS]

$700 a month to rent a car. That's just nutso! Some of these dealers crack me up.

[silkrckt]

Originally Posted by backhill

You're paying the same in depreciation when owning the car over the first three years. You have the risk (read: certainty) of being upside down, assuming 60 or 72 month financing, if you want to get out of the car any sooner than 30 months into ownership. Full freight on a SS 1LE is 45.7k, plus taxes and a 72 month financing at 2% is $714/mo. Most can can drop it down to $40k with other rebates and incentives, it still puts you at $625/mo.

Explain the difference.

I agree it's the same. I purchased a 2014 2SS @72 months and put 6500 down. 36 months in, I'm looking to replace with a 2017 1LE. The difference from payoff and trade value is almost $400 more than my initial down payment. Since I'm getting my down payment back, its just like leasing the car. I pay $461 a month for the 2014.

I get the positive of being able to drive as much as I want and modify as I wish. I will do the same with the 1LE.

[mcsoul]

Accords and Jetta's are the only things I'd lease, and it has to be some sort of end of year crazy inventory reduction sale.