[CarFlow1]

Hi everyone, I'm new here so to keep things brief:

I've been looking to get into a ZL1, preferably a lease. Many of the dealerships that I have came across had the vehicle listed but was in fact spoken for. No sign of any available ZL1's in Michigan and trust me I've tried just about every dealership here.

Yesterday, I was notified of a ZL1 that is out of state and is available for leasing. Here's a quick and dirty look at the numbers: 4k down, $830 per month/36 month term/12k miles.

residual after 36 months - $39k (Financing through US BANK)

What are your thoughts on this deal?

[Zack46]

An $830 car payment? YIKES!

What is your money factor that you are getting?

Do you have a trade-in value?

Do you have money carrying over that will be tacked on to this car payment?

If I was you, SAVE more money for a bigger down payment........

[Michigan1LTRS]

On a lease I would put down as little money as possible. That money will be gone and is only serving to lower your monthly payment. Now, having said that, I have no idea if that's a good deal, but some smarter people than me I'm sure will chime in to help you.

[67Builder]

That's roughly in line with what the national lease deal is from Chevy.
If that's the out the door price with all taxes and fees, and you're happy with that term and 12k miles. It's not a bad deal. Just a high payment. If you can make that payment, get down with your ZL1. If you don't need 12k miles go for 10k and save a few dollars. Money down on a lease is hard to justify because it's essentially pre paying payments. You're out that money if your car is wrecked or stolen. Again, it's all up to your ability to pay a high dollar amount and your comfort with risking 4k of your hard earned dollars. It's not my money, so I say you should go for it!

[unavailablezl1]

I cannot justify leasing, that's just me.

[BooSSted]

Originally Posted by Michigan1LTRS

On a lease I would put down as little money as possible. That money will be gone and is only serving to lower your monthly payment. Now, having said that, I have no idea if that's a good deal, but some smarter people than me I'm sure will chime in to help you.

What he said, that is a horrible plan.

Worst case scenario you wreck that car, your 4K down is gone. I'd never recommend to put money down on a lease when you never own, its solely to lower the payment.

[IneedAZ]

what is sticker out the door price on the car? Based off your posted numbers you are paying 72k.

With tax, mine is close to that. I have no trade(keeping my 2012) and plan to finance 60k over 60 months. Intent is to double up on my payments so its paid by the end of 3 years. Reason of the 5 year note, same interest rate as 3 years and if something happens i won't be strapped or committed to the higher payment. For your lease, i would need to know what the car price is vs what you are paying.

[CarFlow1]

Originally Posted by IneedAZ

what is sticker out the door price on the car? Based off your posted numbers you are paying 72k.

With tax, mine is close to that. I have no trade(keeping my 2012) and plan to finance 60k over 60 months. Intent is to double up on my payments so its paid by the end of 3 years. Reason of the 5 year note, same interest rate as 3 years and if something happens i won't be strapped or committed to the higher payment. For your lease, i would need to know what the car price is vs what you are paying.

The MSRP on the vehicle is: $67,795
Transaction price: $66,365
Giving me a discount of: $1,430
Doc fee: $80
Tax: $310

Looks like the first months payment and doc fee is factored into the money down.

[IneedAZ]

What about sales tax? You are paying 72k on 66k car.

[CarFlow1]

Originally Posted by IneedAZ

What about sales tax? You are paying 72k on 66k car.

Wow, the sales tax is 6%

[CarFlow1]

Originally Posted by IneedAZ

What about sales tax? You are paying 72k on 66k car.

And how did you factor that? Like how did you conclude that I'd be paying 72k on a 66k car? Because I could use this for ammunition with the dealer.

[Faster12]

So unless some of you are putting 20k+ down, I don't understand how $830 is a lot for a monthly note on a $65k car. What's the significant benefit of a large down payment as opposed to that same money in a high-yield CD or a solid savings account over the same 5 year period? I'm just asking because if I had $20k or more in cash I would definitely not put it on a depreciating asset. It's just $20k gone. I much prefer liquidity and 60-72 month loan for a car won't kill me.

OP....I'm not so sure I would want to lease a ZL1. I say buy, but its ultimately your choice.

[IneedAZ]

I just did ur 830x36 months plus ur 4k down plus the 39k residual. If you don't plan to keep the car it won't matter.

[IneedAZ]

Did you reach out to Becky at Rodgers Chevrolet?